Moody’s announced downgrades for 28 Spanish Banks after the close, with the downgrades ranging from 1-4 notches.
Ratings were cut by one notch for three banks, by two notches for 11 banks, by three notches for ten banks and by four notches for six banks.
Short-term ratings for 19 banks were also between one and two notches.
Full release below: [Read more...]
We have 5 silver inventory movements to report from Friday’s trading, with nearly all of the action again occurring in the Brink’s vaults.
COMEX WAREHOUSE SILVER INVENTORY UPDATE 6/25/12 [Read more...]
Jim Sinclair has released an excellent deflation rebuttal today to email subscribers.
Sinclair states that classical deflation does not have a snowball’s chance in hell of occurring now for any length of time, that the problems from 2008 are not only still here, but have grown much greater by being covered up over the past 4 years.
Sinclair reiterates that the Euro and the Dollar (in that order) will be bailed out, and that QE will Continue to Infinity!
From Jim Sinclair:
Never before in the entire period of 1968 to 1980, or 2001 to present, have I received so many copies of classical deflationist scenarios in one day. It would seem as if the God of Deflation overflew the gold guys and dropped their leaflets.
Classical deflation does not have a snowball’s chance in hell of occurring now for any length of time. To assume that you have to hold the belief that Bernanke is a mole in the present administration, placed their covertly to bury the present administration so deep that there will never be a democrat in office after 2013 anywhere. [Read more...]
LEAP/2020 has issued a RED ALERT for the Western banking system, stating that Europe’s hour of payment has arrived, and compares the next two months to the Israelites circling Jericho for 7 days prior to blasting the trumpets.
LEAP/2020′s red alert states the Western banking system’s trumpet blast will occur in September or October.
The seven blasts of the trumpets of Jericho marking the September October 2012 period will cause the “Dollar Wall’s” last sections and the walls which have protected the world as we know it since 1945 to collapse.
The shock of the autumn 2008 will seem like a small summer storm compared to what will affect planet in several months.
A new report suggests Greece has breached the troika’s bailout rules by hiring 70,000 new public workers.
Apparently the Greeks have called the troika’s bluff as the EU/ECB will provide whatever liquidity is required (likely via the Fed).
A report suggests that Greece breached the rules of its EU/IMF loan agreement by taking on some 70,000 public sector staff. [Read more...]
The AP is reporting that the Turkish Deputy PM has claimed Syria has just fired on a Turkish search and rescue plane that was searching for the downed F-4 fighter jet.
The Turkish Deputy PM claimed the search and rescue plane was ‘only inside Syrian airspace for 5 minutes‘.
If the search and rescue plane is searching for the downed fighter jet INSIDE Syrian airspace, it would appear the plane was shot down within Syrian airspace rather than over international waters as claimed by Turkey, would it not? [Read more...]
Still scanning the headlines for the cause, but gold and silver have just exploded vertically on what appears to be no news- silver up $1.00 to $27.70, and gold $20 to $1588.
As there haven’t been any official new QE announcements this morning, has all of Europe suddenly panicked into the last remaining true safe havens of gold and silver?
Jim Sinclair states that a major international auditing firm is currently involved in an emergency Wall St. project with over 900 consultants calculating valuations for a ‘suddenly devaluing portfolio of CDO’s’.
Perhaps Jamie is having trouble unwinding The Whale’s IG9 tranche? [Read more...]
While US Silver Eagles and Canadian Maples sales have declined in 2012 vs 2011′s record setting pace, the Perth Mint’s 1/2 oz Lunar series sales are up 38-fold from 2008-2009, and 4-fold from 2011!!
From the Pert Mint:
We’re witnessing an interesting new sales trend. Demand for 1/2oz silver bullion coins are increasing significantly – and we wouldn’t mind your thoughts on what’s happening.
Here’re our sales figures for 1/2oz Lunar and Koala silver bullion coins during the past five years: [Read more...]
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BrotherJohnF’s latest Silver Update: Still Stackin [Read more...]