Archive - Sep 25, 2012 - Blog entry

“European leaders” and “responsibilities”: a can of worms

Today's Zero Hedge Articles in Audio Summary. "Americans don't struggle. North Koreans struggle." Everyday 8-9pm @ New York Time.

SNB bond-buying is "exacerbating" the gap between borrowing costs for stable countries like Germany and the rest of the 17-nation euro zone.

and a flying moron.

Must-See Pictures

So… the Fed has engaged in record intervention in the market and economy. Despite this, the US “recovery” has in fact been a total dud: we’re officially back in a recession. And inflation is hitting lift off. This means the US, like China and Europe, is no longer an engine for global growth. Combined these three regions account for 55% of global GDP.

Liquidity, Fund Flows and Technicals matter now. Fundamentals, Dow Theory and the real economy, not so much. 

Today’s AM fix was USD 1,766.75, EUR 1,369.36, GBP 1,088.37 per ounce.
Yesterday’s AM fix was USD 1,758.50, EUR 1,361.91 and GBP 1,084.96 per ounce.

Gold fell $8.60 or 0.49% in New York yesterday and closed at $1,764.50. Silver slipped to a low of $33.594 then rebounded in New York, but it still finished with a loss of 1.62%.

Gold Seasonality Chart - Heatmap

Another fairly uninspiring day.

In absence of hard data, subject to rumours and sentiment, as well as sudden “squeezes” or “sell-offs”, albeit in very tight ranges.

Mood maybe less rainy then yesterday, but, call me a bear, it doesn’t feel very convincing out there.

Get out your magnifying glasses boys and girls...

Health Tip for Paper Money Users

As the media distorts the truth and the facts, I fight back with the Anti RDFun (Reality Distortion Field Ultimate Nullifier). Apple is outgunned in the data space, its maps product is simply the first in a long string of mishaps as it tries to transform from hardware to data, like Google.