Stacy Summary: Morning! Any headlines that make sense of continuing strength in gold / weakness in dollar.
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ref. max keiser & Get 6 mo’s free storage
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Rick Ackerman-
- King World News
- Mish
- Karl Denninger – Market Ticker
- Michael Hudson
- ZeroHedge
- The Big Picture
crash banksters – Buy Silver & gold
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Most recent: 
I use technical analysis to identify trends.
My long term USD indicator has been giving BULLISH warnings for a while and I am expecting a USD rally.
My indicators can identify trend changes before they occur.
They warned me of an impending market crash back in early *2007*
The VIX continues to give bullish warnings as well.
The primary trend for stocks remains down, is the current bear market rally ending ?
@Will
The Daily Bell article re: the destruction of civil liberties
This describes exactly what I have been seeing, feeling and dreading for months.
There is an obvious mad rush to pass through massive illegitimate mandates at unprecedented speed. This is a huge Warning sign….Red Flags everywhere! The target date appears to 2010.
In addition, legislation and mandates that are written in convoluted, long legalese, which makes it difficult to impossible for the average person to sift through, is another sign that something wicked this way comes…..and soon if we don’t rise up.
I do not believe as Mother that this is in anyway a benevolent NWO to promote a world group hug or in anyway to benefit the people. This is a massive attempt at a power/ wealth grab never before seen.
PS: Hey Aunt Stacy:
Was that you walking with your back to the camera with Uncle Mad Max in the hotel in Italy in the CIA conviction video?
By the camera angle you looked a foot taller than Uncle Max in those black boots…
You are either going to have to go with flats… or we need to get Uncle Mad Max some lifts for Christmas. I know a guy, he’s whole sale…
Uncle Mad Max is solid in Gold!
Hey Uncle “Daddy Warbucks” Mad Max:
Mail me a Krugerrand for Christmas.
Love your nephew, PI.
TSGordon – Maps
Links, post links please!
Here’s one of my favorites:
http://hisz.rsoe.hu/alertmap/index2.php
Click on the little widgets for info on what’s happening.
Hurrah!
Where will they get all the $ for this?
Chanos says dump munis as distress mounts and ratings attacked
It’s not just the recession, which has reduced tax receipts. Rather, he says the poor economy “is masking real problems in municipal cost structures.” The big problem, he says, is “the platinum-plated health-care and retirement benefits” given to state and local workers. “It’s all coming home to roost” as boomers start to retire.
http://www.creditwritedowns.com/2009/11/chanos-says-dump-munis-as-distress-mounts-and-ratings-attacked.html
Cleansing Process
http://inpoints.blogspot.com/2009/11/cleansing-process.html
@max power
dustbins… classic!
Note to all GOLDMAN Employees:
With the purchase of your New $100.M. private Yacht, we will be placing 1 free Kilo of GOLD in the ballast ! …ditto those interested buying a full-priced (LOL) flat in central London, or Hong Kong!
@Will: That article about anti-democratic conditions in Europe is profound–if just because so few Americans are even aware of any potential conflict in the Main.
“(This) could end in tears, or worse.” -Like, duh, dude!
One of my favorite graphics of late is a map that shows flames in various parts of france where riots have broken out. Soon, you could paint a fairly accurate picture of Modern England by pulling plates out of Charles Dickens books, and simply adding video CAMERAS to each of the street views.
Still, as long as the NYT has a great ‘ARTS’ -section, and plenty of haute couture, who cares?
“Dollar drops against (other) currency (ies)” -that’s about all the news you are likely to see, with the UDS loosing an average of 12% over the past 45 days, in Central America. (For a year it’s been fetching about 583 Colones):
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Dollar Drops Almost ¢9 Colones Overnight
The Us dollar dropped almost ¢9 colones overnight, dropping to ¢554.38 for the buy and ¢563.23 for the sell against the Costa Rican Colon. The exchange rate on Tuesday was ¢564.39 and ¢573.03, respectively, dropping ¢8.64 colones overnight, as published by the Banco Central de Costa Rica (BCCR).
It was evident before the banks closed for business on Tuesday that a sharp drop was coming overnight, when some banks, like Scotiabank, were posting their rates at ¢554 for the buy and ¢562 for the sell.
The dollar has dropped more than ¢30 colones since the middle of September, when the buy was ¢585.87 and sell ¢595.59 on September 18.
The BCCR (Central Bank) says the changes are based on supply and demand, based on the excess or lack of dollars in the market.
Today’s exchange rate is slight above the rate on November 11, 2008, when the buy was ¢551.18 and the sell ¢560.98.
Experts say that the fall could continue as more dollars in the market place and lower demand means a drop in price. Other experts say that this could also be a sign of a permanent condition, while others say that there could be greater volatility in the coming weeks that in the past eight months.
A Rock-Solid Case for Gold Reserves
By Fabrice Taylor
The Globe and Mail, Toronto
Wednesday, November 11, 2009
http://tinyurl.com/yddvb3c
Sociopolitical pressure is building everywhere. Here are some more ominous but ignored signs from the EU (excerpts). At some point gold will reflect this by popping quickly even higher.
http://www.thedailybell.com/586/EU-Attacks-British-Civil-Liberties.html
Acts of war which are largely unnoticed right now because of all the other more amusing circuses.
http://ca.news.yahoo.com/s/afp/091111/world/mideast_conflict_israel_iran_weapons_2
http://www.cnbc.com/id/33850971
The following op-ed is from the Fiji Times online this morning. It’s a good summary argument for owning gold, which many people who don’t know anything about it need to hear. Link to entire article & excerpts below.
http://www.fijitimes.com/story.aspx?id=133347
http://online.wsj.com/article/SB10001424052748703932904574511942676683258.html#articleTabs%3Darticle
US economic statistics that cannot be counterfitted, usable as alternate ways of tracking an economy:
Families liquidated due to debt, re — mass killings + suicide
– Coupled with conditions of debt and unemployment
The special debt conditions in the US make this a very good measure, and one that can be tracked back as far as 50 years. I assume the FBI has some nationwide stats on this dating back to 1955.
I am not being unrealistic, as there are other mechanisms that have been or are used:
Sales of men’s underwear — used by Buffet and others
What people are throwing away in public dustbins, a favourite of Tojo and like Generals from the Empire of Japan during WWII.
Many trillions of them so I hear?
@stacyherbert
Maybe this is the reason for gold spike today?
Oil slides below $79 on mixed China data http://tinyurl.com/y9csfc7
@Mep
Nighty night and sweet dreams…..
@The Man from Glad
’bout: Willen Buiter
Indeed Gold has many Industrial use. In every computer there is gold for instance and in Germany you’ve got a company which profitably gets it out again. Think about the dental gold or the gold plugs for high end audio etc…
Buiter seems to be a extremist FIAT currency believer and calls the Intristique value of gold “a believe”? That’s what extremist usually do cause there “God” is always better.
I think Willem Buiter believe system has been shattered and it’s at that point people get angry and that’s good for him cause it would mean he’s on the right track of acknowledging of what’s realy going on here. He should realize that the dollar officially has been declared “Toast” and come to grip with it.
So, come on Willem get yourself together and illuminate us again with some well founded sane reasoning again. Nobody is perfect. We don’t talk about the gold anymore we’ll just buy it.
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Justice Dept. Asked For News Site’s Visitor Lists
http://www.cbsnews.com/blogs/2009/11/09/taking_liberties/entry5595506.shtml?tag=mncol;txt
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Assuming you have no sensitive internal files, most reasonably well trafficked websites should give some details of visitor origins or visitor patterns.
Websites that are already open in this way attract less suspicion as well as make people wanting to put ads on the site more aware of its utility to them overall.
Have to go to bed. Happy St. Martin’s Day to all who are lucky enough to celebrate it!
Thanks, Youri. I didn’t know if it sold yet. That Daily Show segment was hilarious.
Yawn.
Zzzzzzz.
Tell me when it is 4096 NZD.
@Mep
Prior to assuming his post with the Obama Administration, according to records Geithner and his wife purchased a five bedroom house near leafy Larchmont for $1.602 million in 2004, and in 2009 he tried to sell his home for $1.635 million after the U.S. real estate market collapse. After being on the market for months the price of the home was reduced to $1.575 million.
After further lack of interest the home was rented for $7,500 On May 21, 2009 according to Scott Stiefrater of Stiefrater Real Estate and Debbie Meiliken of Keller Williams Realty, New York.
The Jon Stewart Show recently created a segment examining the financial acumen of Timothy Geithner for actually asking more than he paid for the house in a depressed real estate market. http://en.wikipedia.org/wiki/Timothy_Geithner
@youri . yes ,that is what i like about Greece too. that Homeric guest friendship thing is really big throughout the Mediterranean and Middle East in general. you have to be very careful before complimenting someone . i have some local friends from Iraq if you say that you ‘like the watch that they are wearing ‘ ,they will simply take it off and give it to you, no matter how expensive it is, no matter how little money they earn . .the polite thing do in that case in just to say..” that it looks better on you my friend.,Thankyou.” it is disgraceful what has happened too so many people in Middle East in the name of ‘war on so called terror.’ we have much to learn from these Highly Civilized and Truly Cultured People. no matter how little money these people earn they manage to send some home every month, for years at a time . they seem to have some of the best values that we have lost.
ppsst: the CEO of AIG is threatening to quit:
http://www.huffingtonpost.com/2009/11/11/wsj-aig-ceo-robert-benmos_n_353312.html
@ Phil – You’re welcome. The whole media-being-fired thing was pretty odd, though. Wonder what that was all about?
@Mep ..Thx .. I realized that after reading the same comments.
Richmond Federal Reserve President Jeffrey Lacker told CNBC that the risk of deflation had diminished substantially, but cautioned the nation could see a growing risk of inflation over the next few years.
“As the economy proceeds, maybe not next year, we could see could see a growing risk of significant increases in inflation.”
Fed’s Lacker says U.S. in “good place” with inflation: report http://tinyurl.com/yf5vvyx
Gold is going to 1275 but in two steps most likely, unless there is an end of year meltdown in US equities. The Fed is obviously creating an asset bubble in stocks through the Wall Street banks. Sheila Bair of the FDIC expressed a similar concern yesterday, so it might not so easily be written off as a conspiracy theory. They have stuffed the banks with liquidity, provided a guaranteed payment on excess reserves, and provided Goldman Sachs the gambling bank with no loans or depositors as a role model. How anyone can believe they are achieving a near perfect trading record in a ‘free market’ is beyond me.
http://jessescrossroadscafe.blogspot.com/2009/11/long-term-gold-chart.html
@ Phil – commenters on that video said that it’s years-old news that those countries have stopped accepting dollars and were preferring euros. (flashbacks of Max’s “death of the dollar” video come to mind–especially the scene with the cabbie talking about the sick dollar.)
@doomandbloom
A) If I read the same article that Stacy mentioned about demand destruction, it mentioned that, yes, US exports HAVE increased, but imports are declining b/c people here aren’t buying.
B) We care that other countries think that we care about them.
@stacyherbert
Maybe it does Stace, we’ll see ….
@Phil
That’s why I like Greece people cause they show you their not about money but about human live. If I miss 10 cents here in Holland they led you unload your shoppery not in Greece or Turkey for that matter.
Man tries to sell $1100 one ounce gold coin for $50; no takers
http://www.youtube.com/watch?v=Gk5aRIz17fk
Speaking of Geithner, does anyone know if he sold is house yet?
questions….
a. doesnt US want a weak $…to improve exports. I read yest that exports have increased significantly from the US.
b. a strong $ is required by other countries who hold $ denominated debt…but does the US really care about other countries?
@ Stacy – Geithner had affirmed a lot. Let’s see if his actions track his words.
@ PatrickEA – It makes sense in the context of the book where people were purposely kept stupid, poor, and overworked in order to maintain the hierarchical class system.
@stacy
Quick wheres my iphone, Geithners lying, gotta zap him!!
This could be cause of gold’s morning rally
Geithner Affirms Strong Dollar Policy
http://bit.ly/3cHaI0
In a book about Napleon in Egypt (funny, recommended) I read that:
“September 2nd 1792 The crowd paraded the breast and other parts of Princesse de Lamballe on pikes through the streets of Paris”
More gory details..
http://en.wikipedia.org/wiki/Marie-Louise,_princesse_de_Lamballe
Lets see what happens to Obama and Geithner..
@Youri – perhaps the move to $1117 during Asian day signals China trying to catch up to India . . .
Being too comfortable does not make you intelligent. My own personal experience shows the opposite in fact.
@ Danny – For fun, demand destruction + disaster capitalism rolled up in one Orwell paragraph:
The essential act of war is destruction, not necessarily of human lives, but of the products of human labor. War is a way of shattering to pieces, or pouring into the stratosphere, or sinking into the depths of the sea, materials which might otherwise be used to make the masses too comfortable, and hence, in the long run, too intelligent.
Elsewhere: The primary aim of modern warfare is to use up the products of the machine without raising the general standard of living.
Gold rallies to record high as dollar slips ( Reuters) Nov. 11 http://tinyurl.com/ydsexvt
PS@Nov. 10th. …
Sounds like he says Greece, Bulgaria, Armenia … accepting only Euros from what I understand.
Nov. 10th. – **Breaking** US Dollar Not Being Accepted Overseas & MSM Shutting Down
http://www.youtube.com/watch?v=h0ZX_fKnfoI&feature=sub
Bad audio … no MSM backing AFAIK !
@Mike2liverpool – morning! what’s sterling doing this morning? i’m hoping it’s at parity with euro by mid December . . . please, please, please
“Demand destruction” has become a priority not only to mitigate Peak Oil but also to mitigate global warming. The United States, with 5% of the world’s people, consumes (wastes) 25% of the world’s energy. How do you destroy demand? You collapse the economy. Homeless, unemployed “refugees” (what a cold, depersonalizing term) don’t buy gas, take trips, fly on airplanes or buy consumer goods (made with energy and requiring energy to operate). They don’t use air conditioning because they can’t afford it. They are the embodiment of Henry Kissinger’s infamous term “useless eaters,” a phrase from the Nazi vocabulary. If energy demand destruction, as acknowledged by the Bilderbergers and the CFR, is a priority, then the only – I repeat only – beast that must be tamed is the United States.” (Mike Ruppert, 2005)
Morning Gang
Mike/Liverpool
@Danny – this past weekend on financialsense news hour they mentioned demand destruction; while demand is down in US, it’s up by even more in the developing world . . .
@y’all
Heard two terms last night, demand destruction (in relation to oil/peak oil) and disaster capitalism.
Discuss….
What did I say? Gold’s going up like crazy! 1,117!
Gold batteling for 1,115 right now!
Live Gold (JAVA): http://www.goldprice.org/live-gold-price.html
Willem Buiter (London School of Economics, advisor to the BoE) Apparently Does Not LIke Gold, and Why
“I suspect that commodities such as oil and gold are giving many western economists with official ties to government monetary committees a stomach ache these days.”
http://jessescrossroadscafe.blogspot.com/2009/11/unberable-lightness-of-thinking-like.html
@Hawkeye – thanks for that link! Everyone should watch the video as it really explains the big problem with High Frequency Trading. As Max developed the virtual specialist technology which involves market making, I will get him to address this video in Saturday’s Truth About Markets. And perhaps even here today after we record OTE.
Credit card issuer Advanta files for bankruptcy http://tinyurl.com/y9hdjbe
Timmy is talking out of his little neck hairs again by saying he supports a strong dollar while exactly the opposite is happening also in his politics naimly; not cutting any deficits by sustaining the costly stimulus and war budgets. Army effords where even increased in Afghanistan!?
You can’t have it both ways Timmy!
Geithner: wants strong dollar, will tackle deficit http://tinyurl.com/yjr8jhp
World Bank President Robert Zoellick said on Wednesday that the U.S. dollar’s role as a reserve currency was “relatively secure”, but the Chinese yuan will provide an alternative over time.
“Over the next 10-15 years, you will firstly see renminbi to be internationalised and provide an alternative,” he said at a World Bank conference in Singapore.
Zoellick also said the U.S. should not be complacent about the dollar.
World Bank: yuan to become alternative reserve currency http://tinyurl.com/ykun97q
A spokesperson of the dutch goldbank http://www.hbu.nl/ says gold will go over $1250 soon..
U.S. policymakers, therefore, must recognize that large external deficits, the dominance of the dollar, and the large capital inflows that necessarily accompany deficits and currency dominance are no longer in the United States’ national interest.
CFR forecasts declining dollar and pushes for a global currency system http://tinyurl.com/yg269pd
@ Stacy
Not had time to properly view these yet (I have a day job y’know!), but does this mean that fringes of the MSM are picking up on the dark underbelly of HTF?
http://www.ft.com/cms/4683c1ac-71fd-11de-b7e1-00144feabdc0.html
U.S. dollar depreciation orderly so far: Fed’s Fisher http://tinyurl.com/yedosy3
Gold going parabolic can only mean one thing.. Timmay has wet his pants!
China Welcomes Geithner & Obama
New stats out this AM show that China will “Bury Them.”
No apoligies to Nikita Kruchev for stealing his line.
WOAH!
.. Tim calling Ben.. “Mission success”
Only have a small silver position but I feel it in my bones that today is
SILVER’S DAY
Indy Media, a news site in US, received a grand jury subpoena from the US Justice Department to provide details of all readers of their site on a certain day.
Today in the US, tomorrow knocking on your door.
Be careful what you write
http://www.cbsnews.com/blogs/2009/11/09/taking_liberties/entry5595506.shtml?tag=mncol;txt
I have a serious question (drink your coffee first):
With the difference in price between the Comex and Hong Kong and increasing tensions in a real market for gold, will the price benchmark of the Comex break? Ebay for instance is a free market, its prices are higher, After Brent Crude will the US based standard be abandoned?
Stacy
Your HTML doesn’t work, but as gold is making new highs, just put in a new chart.
HA ! ! ! ! !
@Stacy
You post looks a bit htmly, was that your intention?
Gold doth nay rust.