Archive - Mar 2013 - Blog entry

This is what the world's "smartest" economist is calling for.

^{Importantly, Cypriots and other Eurozone citizens who own gold saw the value of their holdings rise 2% in euro terms.}

The demise of gold and the "death of the gold bull market" is "greatly exaggerated" says Mr. O’Byrne.

^{He said that while the risk from Cyprus has abated, in the light of capital controls in EU country and the treatment of Cyprus, there are now huge question marks over the future of the European Union itself.}

This is precisely what I feared would happen: that any basic rules or laws would be tossed out the window during times of extreme crisis. This has unfortunately proven to be the case.

The IMF offered Cyprus a bailout with no specific amount or even range and no time period while in the process gutting confidence in the banking system by robbing depositors and imposing losses on bondholders. A Damn good plan if I ever heard one!!

The silver market is increasingly becoming an exercise in contradiction. On one hand, the silver spot price has disappointed thus far in 2013, falling from the low-thirties in early January down to its current level around US$29.00/oz. Given that price direction, one would be forgiven for assuming that the silver ETF's had experienced outflows over that time - but they have not.

A review of the implications of the new deal struck on Cyprus. We think three of the worst pitfalls have ultimately been avoided--small depositors protected, orthodox seniority of claims respected, and extensive capital controls averted. The political will to preserve EMU has once again triumphed over ideological purity. We review the economic calendar for the week ahead.

So you are a large corporate with local accounts in Italy or Spain, does today's solution tickle you pink? Pass the scotch tape...

Quite a few articles have been written about the importance of owning Gold and other precious metals as a means of maintaining one’s wealth in the face of rampant money printing by the world’s Central Banks.

Here is a bit of sanity for everyone on this Sunday afternoon

Given the complexity of our system just to execute a trade, is it any wonder that CNBC has been on a push with Mila Kunis and Rachael Fox to bring back the seemingly low-brow retail investor who only gets into the market once his favorite TV actress says so?

WARNING: BANZAI7 SUNDAY AM FOOD AND BEVERAGE WARNING IN EFFECT...

China’s Government knows it's on thin ice and so is doing three things to try to mollify the Chinese population:

1. Launching a very public campaign to crack down on corruption (to mollify the populace).
2. Taking steps to tame inflation (slowing financial speculation and importing massive quantities of commodities to attempt to control prices).
3. Curbing its stimulus efforts.
4.  

The clowns are the politicians and technocrats in Berlin and Brussels.

Even your data and conversations on its encrypted services that you thought were secure aren’t; at least not from 46 governments around the world.

Forget Cyprus. A much bigger story in the coming weeks and months will be in Japan, where one of the greatest economic experiments in the modern era is about to begin.