dogbarker.com News

Silver Update 5/16/13 Gold Games

chrisw@dogbarker.com (Chris W) — Fri, 17 May 2013 13:18:32 +0000

Gold and Silver: Reasons to Be Positive in Perspective

chrisw@dogbarker.com (Chris W) — Fri, 17 May 2013 13:04:01 +0000

Tragic Trifecta: Initial Claims Soar, Housing Starts Plunge, CPI Below Expectations

chrisw@dogbarker.com (Chris W) — Thu, 16 May 2013 13:35:40 +0000

We didn't really need a confirmation that the economy was deteriorating and completely disconnected from the "market", but we got it nonetheless. First, Initial Claims coming at 360K, on expectations of 330K, the worst print and worst miss in six weeks, confirming that weekly data is largely noise and that there is no sustainable downward trend. The May 11 weekly print adjusted and unadjusted were 360K and 318K respectively, virtually unchanged from a year ago at 373K and 325K, showing that in one year there has been essentially no progress, and that weekly initial claims of 350K is the new normal. Of course, the last week's print was also revised higher from 323K to 328K, while initial claims also missed expectations of a round 3MM print, instead printing at 3009K. Read more @ Zerohedge.com

Silver Update 5/13/13 Difficult Questions

chrisw@dogbarker.com (Chris W) — Tue, 14 May 2013 13:19:49 +0000

BrotherJohnF

Chinese Gold Imports Soar To Monthly Record On Insatiable Demand

chrisw@dogbarker.com (Chris W) — Wed, 08 May 2013 13:59:12 +0000

In what must be an inexplicable move to momentum-chasers everywhere, as gold continued to decline in price in March, and long before its targeted smash in April, China was not backing off its gold purchases of the yellow product. Quite the contrary: as export data released by the Hong Kong Census and Statistics Departmentovernight showed, Chinese gold imports in March exploded to an all time record high of 223.5 tons. This follows 97.1 tons in February, and brings the total imports for the first quarter of 2013, or 372 tons, on par with what China imported in the entire first half. It also means that since January 2012, China has imported an absolutely stunning 1,206 tons of gold. Putting this number in context, this is 20% more than the entire reporter official gold holdings of 1054 tons, and represents roughly half of the total 2500 tons of gold mined every year. Read more @ Zerohedge.com

Busted ! CNN Anchors Fake a Satellite Interview in the Same Parking Lot ! Red Truck

chrisw@dogbarker.com (Chris W) — Wed, 08 May 2013 13:26:32 +0000

DAHBOO77

Nigel Farage: Europe Hijacked by the EU Project

chrisw@dogbarker.com (Chris W) — Wed, 08 May 2013 13:21:17 +0000

europarl

The Economic Crisis, Then and Now; Dollars and Sense Show 57

chrisw@dogbarker.com (Chris W) — Tue, 07 May 2013 22:39:15 +0000

SchoonWorks

Still Report # 81 Philly Fed Intro

chrisw@dogbarker.com (Chris W) — Mon, 06 May 2013 13:48:34 +0000

bstill3

Still Report 80 Prof. Jeffrey Sachs 2

chrisw@dogbarker.com (Chris W) — Sun, 05 May 2013 16:46:54 +0000

bstill3

Criminals control global banking system

chrisw@dogbarker.com (Chris W) — Fri, 03 May 2013 18:42:20 +0000

PressTVGlobalNews

Another Day, Another (Two) Outrages

chrisw@dogbarker.com (Chris W) — Fri, 03 May 2013 17:16:18 +0000

Karl Denninger > market-ticker.org

Why should I believe anything the government tells me?

Why should I obey the law, other than because I'm scared of the guns the government can point at me?

Why should I build or expand a business when anyone who has government favor can come steal anything -- or everything -- I build, and there isn't jack and crap I can do about it as they won't be prosecuted or punished in any way? In fact, they'll be rewarded!

If you want to know how a nation dies without being conquered by war, pestilence or famine, this is how. The good, honest, industrious people simply say "screw you" and refuse to effort to move the economy and nation forward.

We are there folks, and these two stories explain why.

First, JP Morgan:

Government investigators have found that JPMorgan Chase devised “manipulative schemes” that transformed “money-losing power plants into powerful profit centers,” and that one of its most senior executives gave “false and misleading statements” under oath.

The findings appear in a confidential government document, reviewed by The New York Times, that was sent to the bank in March, warning of a potential crackdown by the regulator of the nation’s energy markets.

The possible action comes amid showdowns with other agencies. One of the bank’s chief regulators, the Office of the Comptroller of the Currency, is weighing new enforcement actions against JPMorgan over the way the bank collected credit card debt and its possible failure to alert authorities to suspicions about Bernard L. Madoff, according to people who were not authorized to discuss the cases publicly.

A confidential government document? Why should any document of this sort be confidential when it bears on conduct that a regulated institution has taken toward the public?

There's part of your problem right there. This isn't a single incident or issue either; it claims a pattern of conduct as do the other "showdowns." Nor is this limited to JP Morgan -- there is a long litany of financial institutions coming under "scrutiny" for various illegal and unethical acts and yet what's missing is prosecutions.

It doesn't end there.

President Obama's nominee for Commerce secretary was embroiled in a massive bank failure more than a decade ago, in a collapse that cost depositors and federal insurers millions of dollars.

The 2001 collapse of Superior Bank FSB now appears likely to re-emerge, more than a decade later, as Commerce nominee Penny Pritzker prepares for a confirmation hearing and Republicans already draw attention to the bank implosion.

Tangled? Like Hell.

This was an all-on scandal and cost the FDIC over $300 million. Those who were over deposit limits were screwed out of $10 million they have yet to recover, and probably never will recover. The bank had insufficient if not outright missing risk controls with subprime auto and home lending.

Being a bad businessperson though isn't an exercise of privilege -- that's just being stupid.

But being able to cut in line before depositors is another matter, and the Prizkers did.

The FDIC "defended" their decision, but again we're back to the same problem we had with GM and Chrysler, where the rule of law is changed ex-post-facto to benefit wealthy and powerful people and screw the ordinary citizen.

Until this crap stops my entrepreneurial efforts are going to remain on the shelf, and I suspect I'm not alone in this regard.

ECB Cuts Refinancing And Marginal Lending Rates By 25 bps And 50 bps, Respectively

chrisw@dogbarker.com (Chris W) — Thu, 02 May 2013 13:25:11 +0000

While the ECB's refinancing rate cut of 25 bps was very much expected, and just took place pushing the main refi rate to a record low 0.50% (because more liquidity is just what Europe's collapsing economy needs), what was unanticipated was that the Marginal Lending Facility (which last time we checked was used by pretty much nobody) was also cut, from 1.5% to 1.0%. The deposit rate, at 0.00%, was obviously left unchanged. Zerohedge.com

Central Banks Who Lease Gold: Look Deeper

chrisw@dogbarker.com (Chris W) — Wed, 01 May 2013 15:32:17 +0000

daytradeshow

Fed Money Printing is No Longer Working: Karl Denninger Interview

chrisw@dogbarker.com (Chris W) — Wed, 01 May 2013 14:53:18 +0000

Greg Hunter

CME Chairman On Gold: “People Don’t Want Gold Certificates, They Want the Real Product”

chrisw@dogbarker.com (Chris W) — Wed, 01 May 2013 12:59:11 +0000

CME's Terry Duffy: "What’s interesting about gold, when we had that big break two weeks ago we saw all the gold stocks trade down significantly, we saw all the gold products trade down significantly, but one thing that did not trade down, was gold coins, tangible real gold. That’s going to show you, people don’t want certificates, they don’t want anything else. They want the real product. Read more @ zerohedge.com

Perth Mint Demand Highest Since Lehman Brothers, Refines Coins, Bars During Weekend

chrisw@dogbarker.com (Chris W) — Tue, 30 Apr 2013 13:27:06 +0000

Australia’s Perth Mint, the largest refinery in Australia and one of the largest in the world, said that demand has jumped to the highest level since the Lehman crisis in 2008. Demand has been robust due to currency devaluation concerns and then the 15% price fall led to a massive surge in demand as store of wealth buyers leapt at the chance to acquire physical bullion at much cheaper prices. This led to the Perth Mint which refines nearly all of the nation’s bullion, having to stay open over the weekend to meet orders. There’s been strong interest, including from the U.S., with buyers confident that the metal will rebound from the decline, Ron Currie, sales and marketing director, told Bloomberg in a phone interview from Perth. “We haven’t seen levels like this since the 2008 global financial crisis,” Currie said yesterday. “Compared to March sales, April sales have doubled or tripled,” he said. “We worked all weekend to keep the factory running to make more stock and that was only to fill orders,” Currie said from the facility founded in 1899. “We’re being inundated with people buying products.” Read more @ Zerohedge.com

Silver Update 4/28/13 Silver Austerity

chrisw@dogbarker.com (Chris W) — Mon, 29 Apr 2013 13:19:43 +0000

BrotherJohnF

SGT Report UNBOUND: MEGA Precious Metals Update

chrisw@dogbarker.com (Chris W) — Sun, 28 Apr 2013 04:39:50 +0000

SGTbull07

Still Report #79 Like A Rolling Stone

chrisw@dogbarker.com (Chris W) — Sun, 28 Apr 2013 04:36:07 +0000

bstill3