The Chart of the Day is an understatement.
Treasury bonds have become the bubble to end all bubbles, with current yields at all-time lows- below the Civil War, WWI, Great Depression, WWII, fall of the Soviet Union, and even the 2008 financial crisis.
Bernanke may try to push yields NEGATIVE with negative interest rates, but with bond prices at all-time highs, there is only one direction (long term) that bonds can go: DOWN. [Read more...]
The irony. Apparently CNBC’s ratings have fallen so far off the cliff (due to alternative financial blogs such as Zerohedge and SD) that they have been forced to resort to truthful financial reporting.
The Central Banker/ sell-side propaganda arm known as CNBC has released an article warning investors that fiat currencies are headed for a collapse due to continued and escalating devaluation.
Shockingly, CNBC even points out in the article that “Every single fiat currency in history has collapsed, this time will be no different.”
With the typically MOPE-filled CNBC releasing articles discussing the inevitability of the collapse of global fiat currencies and a re-linking to gold, can the final devaluation of the dollar and its fiat cousins be far off? [Read more...]
WHOLESALE quoted prices for gold bullion fell below $1620 an ounce during Monday morning’s London session – slightly below last week’s close – while stocks gained and US Treasuries fell, with markets focused on key monetary policy decisions due later in the week.
Silver bullion hovered around $27.70 an ounce – in line with Friday’s close – while other commodities were also broadly flat.
German 2-Year government bond yields hit a new record low this morning, falling further below zero to -0.096% ahead of an auction of Italian 10-Year debt.
German bund yields then climbed higher, although remained in negative territory, after Italy successfully sold just under €5.5 billion of 10-Year bonds at an average yield of 5.96% – down from 6.19% at a similar auction last month.
Last week, benchmark 10-Year yields on Italian bonds rose as high as 6.7%, while Spanish 10-Year yields set a new Euro-era high at 7.75%. German 10-year debt this morning was trading at a yield of less than 1.4%. [Read more...]
*Breaking* ‘Batman’ Shooter’s Father Was Scheduled to Testify As Whistle-Blower to Senate Over LIBOR Scandal
Shocking details have emerged over the weekend regarding the alleged Colorado Batman shooter James Holmes.
Holmes’ father, Robert Holmes, reportedly is a senior lead analyst with FICO, and was scheduled to testify as a whistle-blower in the coming weeks regarding the LIBOR scandal, was was reportedly ready to NAME BIG NAMES involved in the massive global fraud as well as provide evidence to the Senate Banking Committee linking the high level executives to their crimes! [Read more...]
Silver has just exploded out of its overnight range of $27.50-$27.70, popping .60 vertically to $28.28.
While it is extremely encouraging to see silver finally take out $28, which clearly has significance from a technical level, we’d like to see consecutive closes above $28-$28.50.
Please also remember that the Fed’s August FOMC statement will be released at 2:15pm EST on Wednesday afternoon. While today’s strength COULD be the banks buying leaked/inside info that the Fed will announce a major new stimulus program on Wednesday, its also a strong possibility the cartel will let the metals run today and tomorrow ahead of the announcement as the market expects major easing, then drop the hammer on gold and silver Wednesday afternoon when the Bernanke dissapoints. [Read more...]
BrotherJohnF’s latest Silver Update:
The Last Bubble [Read more...]
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Gold held steady above $1,620/oz on Monday, as investors wait for the central banks from Europe and the US to give definite signs on their plans for more QE. QE3 would be bullish for gold and increase the inflation outlook which would benefit gold as a hedge against the rising prices. The public is now interested in the yellow metal again, with investors adding to their physical positions. Market watchers will take their clues from the data out this week. More investors are trading euro gold than ever before and using euro gold as the barometer of internal health of the gold market right now, says analyst Edel Tully of UBS. Euro gold is up 9% this year versus US dollar gold’s +3% performance. The markets await the Fed’s move. Certainly some form of QE3 is inevitable whether it is announced this week or at the next FOMC meeting scheduled in early September [Read more...]