Frontline has released Part 2 of its MUST WATCH financial documentary focusing on MFGlobal and Jon Corzine’s $6 billion bet gone bad that took down the commodities brokerage.
The story of Jon Corzine, the former head of Goldman Sachs and political power broker, who took over MF Global in the spring of 2010 with oversize ambition and a passion for risk. But after a massive bet on European debt turned sour, the firm lay in ruins, with more than a billion dollars of customer funds missing.
Part 2: The Final Days of MFGlobal
Chris Duane of Dont-Tread-On.me has released Part 30 of The Silver Bullet/ Silver Shield video series: How Hyperinflation Happens.
For those who are interested, click here for a refresher on the Causes & Results of Hyperinflation. [Read more...]
It’s been a week since Facebook’s disastrous debut. The stock didn’t even get that initial pop that we have been so used to. Now we’ve seen shareholder lawsuits, subpoenas, not to mention a whole lot of mind-numbing news coverage in what was an overvalued IPO price.
But why did so many people miss this in the first place, even though there was plenty of evidence to suggest that this was a deal only for the biggest of muppets? Could muppetology help us figure this out? [Read more...]
All the action was in the Brink’s and Scotia vaults Thursday, as we have 4 silver inventory movements to report today, 2 each from Brink’s and Scotia.
COMEX WAREHOUSE SILVER INVENTORY UPDATE 5/25/12 [Read more...]
We’re betting your wife (or husband for our female SD readers) never seemed so smart.
Angela Merkel (German Chancellor) points to Berlin on a map during a TV interview….
Hey, maybe she misunderstood the question and thought the reporter was asking who she thought might bailout Europe?
The legendary Jim Sinclair has just sent the following email alert to subscribers stating that we are currently witnessing the death throes of all fiat currencies, and that gold seems to recognize the fact.
Sinclair states that the sentiment on the Euro is now so overcrowded to the bearish side that it might as well be one-sided, and that the US dollar’s problems will overshadow those of the Euro in the not too distant future- much to the surprise of the ‘professionals’, but not to SD readers.
From Jim Sinclair:
Majority Opinion Is Not Always Correct
One thing I am sure of is that the majority opinion on the destiny of the euro is wrong. The bear position is so crowded it may as well be one sided.
Sure, that type of trading will continue to put pressure on but it all will go splat after the fact. Yes that type of position reflects its mirror image on the dollar and could make the present bullish near term price objective real, but for a moment only. [Read more...]
A WSJ piece released Thursday discusses CFTC Commissioner Gary Gensler’s recent admission that the Obama administration is working to provide taxpayer assistance to clearinghouses in emergencies.
Hmm. Why exactly might the CFTC suddenly need to ensure taxpayers are backstopping the CRIMEX? Could the Silver Noose be tightening around the cartel and JP Morgan, or are JPM’s $100 Billion CIO losses about to take down the entire system?
Clearly, the regulators are concerned about something on the immediate horizon to suddenly take steps to ensure clearinghouses and exchanges are backed by the American taxpayers. Our money is on a derivatives melt-down, triggered by JPM’s losses, with potential imminent European defaults thrown in just for good measure.
While a physical gold trust holding 1oz American Eagles and Maples is leap years ahead of ‘owing’ the paper backed GLD, gold (and silver) only has zero counter-party risk if the physical assets are held in your own personal possession.
If you don’t hold it, you don’t own it. Just ask Germany or Mr. Celente. [Read more...]
Chris Duane talks silver with RedditSilverBugs in this interview recorded Thursday [Read more...]
For those who haven’t yet read it, Mike Krieger’s latest is a MUST READ.
Mike calls out the Fed for their game of chicken in pretending no further QE was needed in an attempt to stomp down metals prices. Unfortunately for Bennie and his boyz at the Fed, without unlimited NEW central bank cash infusions, the zombie known as the global economy is rolling over.
The Bernank blew it, is now behind the 8-ball and QE is about to GO BIG. ‘I’m not talking operation twist part deux. I mean a serious print. Potentially the BIG ONE.‘
From Mike Krieger:
Here in the U.S., I think that The Bernank’s plan was to pretend they didn’t need to print more money, get commodity prices down and then hope that the economy would respond favorably to that development. This wouldn’t have negated the need for more printing; however, it would have bought time and allowed for a potentially lesser degree of action. Instead, what has happened is that the global ponzi is completely and totally incapable of holding itself together without consistent and increasingly large infusions of Central Bank money. The debt burden is too large, the mal-investments too pervasive, the corruption too systemic. The whole house of cards that is the global economy will vanish into dust rather quickly without more and more printing. So what do you think they are going to do? [Read more...]
Central Banks are suddenly accumulating ‘tradition’ hand over fist. Retro coming back into style??
Latest figures from the IMF show that Central Banks have continued to increase their gold holdings significantly in April, after a big increase the previous month. [Read more...]
SD Bullion’s phone lines will be closed Friday 5/25 due to a personal emergency.
The Doc and Bull run can still be reached by email at email@example.com and we will respond to any inquiry’s as quickly as possible.
SD Bullion will also be closed Monday 5/28 in observance of the Memorial Day holiday.
Our phone lines will be open again Tuesday 5/29 at 9:30am EST
Breaking news: US Senator Rand Paul offers surprise amendment to rein in FDA abuses, disarm the FDA, decriminalize free speech
This is huge news for freedom and personal liberty in America if it passes.
In a stunning and completely unannounced move, US Senator Rand Paul – who many agree represents the best hope for the restoration of liberty in America — has introduced an amendment to a key FDA funding bill that seeks to sharply rein in the FDA’s power. It would disarm the FDA and make the agency stop using guns against the American people; it would halt the FDA’s armed raids on raw milk farmers; it would also stop the FDA’s outrageous and longstanding censorship of truthful health claims of dietary supplements and medicinal herbs. [Read more...]