Archive - 2012 - Blog entry

Gold fell $3.10 or 0.18% in New York yesterday and closed at $1,693.60/oz. Silver climbed to $33.24 then slid to $32.51, but finished after an afternoon rally with a loss of 0.33%.

Gold inched down on Thursday, near the monthly low reached in the prior session under pressure from a stronger greenback as players await the European Central Bank rate decision at 1245 GMT and US Initial Jobless Claims at 1330 GMT.

Physical buying of gold bullion has increased on the dip, particularly in Asia, and many are seeing these levels as a floor for prices.

It would appear that many are lookng at the Greek serial default debacle as a muppet wearing Goldman-tinted gold colored glasses. Here's a more realistic view, complete with the math to back it up!

Any legacy that Obama might have had will have been converted into something like Herbert Hoover’s.

Why does the Big Media other than WSJ refuse to report on the TAG subsidy grab by the largest banks?  

A consolidative tone threatening to emerging in the foreign exchange market, as prices churn awaiting not only today's press conference following the ECB meeting, but also tomorrow's US employment data and prospects for an expansion of QE3+ at next week's FOMC meeting. 

Five major central banks were to meet this week, with only the Reserve Bank of Australia poised to act.  They did cut rates, but the accompanying statement did not tip the hand of the next move.  The market took advantage of the jobs data's favorable optics to reduce the likelihood of a follow up cut in February to about 50/50.  

The details of the employment report were really weaker than it appeared.  The 13.9k increase in jobs is misleading as it was driven exclusively by part-time jobs.  Full time work actually fell 4.2k, the first decline in four months.  The unexpected decline in the unemployment rate to 5.2% from 5.4% in Sept and Oct was a function of a decline in the participation rate.  The Australian dollar has traded now (barely) on both sides of yesterday's range.  Offers in the $1.05 area continue to slow the Aussie's ascent.

Insider traders and penny stock hucksters beware...

While real wages dropped 1.4%

All the government subsidies in the world will not revive the construction industry - only demand from increasing wealth will.  The guest commentary below offers a vivid picture of the economic and regulatory factors weighing on homebuilders these days. The author is Wayne Siggard, who builds mansions for the super-rich.  A UCLA law graduate, Wayne worked for Bechtel Financing Services and was self-employed as an investment banker doing private placements in oil and gas and alternative energy project financing.  When oil hit $10/bbl in 1985, he went into the homebuilding business, turning an avocation into an occupation. His real estate operations, including land development, have primarily been in California and Utah.  Wayne lived for several years in Italy and Switzerland and speaks many languages.

Now that it's nearly impossible for naysayers to downplay or refute the most contrarian research of the decade, what's next? #MARGINCOMPRESSION!

More Spying On Citizens than in Stasi East Germany

Wondering what Christmas gift to give that special someone in your life that has taken the Red Pill?

I’m going to lay out everything you need to know about the fiscal cliff negotiations. After reading this, you can ignore all of the media’s coverage of this topic as well as various politicians’ announcements pertaining to this subject.

After extending recent losses in Asia, the US dollar stabilized in the European morning.