Best Of The Best Share Discussion Threads

[traderabc] 29/1/2010 14:46

Davos 2010: George Soros warns gold is now the ‘ultimate bubble’


Edmund Conway
London Telegraph
Friday, January 29th, 2010

Gold is now “the ultimate bubble”, billionaire investor George Soros has declared, sparking fears that prices for the precious metal may soon suffer a tumble.

Mr Soros, arguably the most famous hedge fund manager in history, warned that with interest rates low around the world, policymakers were risking generating new bubbles which could cause crashes in the future. In comments delivered on the fringe of the World Economic Forum, Mr Soros said: “When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.”

[traderabc] 29/1/2010 14:34

Secret Banking Cabal Emerges From AIG Shadows:

David Reilly Share Business Exchange


Commentary by David Reilly


Jan. 29 (Bloomberg) -- The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.

Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials.

We’re talking about the Federal Reserve Bank of New York, whose role as the most influential part of the federal-reserve system -- apart from the matter of AIG’s bailout -- deserves further congressional scrutiny.

[traderabc] 28/1/2010 22:16

Davos 2010: Bank bonus payments 'wrong' says Soros

Billionaire investor George Soros has told the BBC that although the banking sector needs a radical overhaul, there is no rush as the situation in 2008 is unlikely to repeat itself for at least 50 years.

He told the BBC's Robert Peston that the payment of bonuses by banks from 2009 profits is wrong, as the profits have been built on a 'gift' - government bail-outs.

[traderabc] 28/1/2010 20:39

C2i,

I'm still holding Platinum, I reckon it broke out, this consolidation is to be expected. I'm concerned about 'God-damn' Sachs, but not totally intimidated...yet.

I'm hoping Gold will find some support near $1K and rally strongly towards the end of the year, seasonally the start of the new year is weak period.

[traderabc] 28/1/2010 20:22

This has an important interview with Liz Warren. A chairwoman of the TARP bail out oversight commission. Interview starts a bit after half way through.


The Daily Show Jan 26

[selfservice] 28/1/2010 20:07

new Edison Gold report

[contrarian2investor] 28/1/2010 20:06

traderabc,

Thanks for your reply re: the above article.

It appears that commodities are staring into a short-term fall. The next week of trading is going to be very interesting indeed. Where do you see current gold support?

I hope you don't mind as I am going to post your 1135 quote on the TR32 & MACR thread.

Have you done anything with your PHPD holding?

c2i

[traderabc] 28/1/2010 17:33

Theft! Were the US & UK central banks complicit in robbing the middle classes?

by Albert Edwards, Societe Generale

Mr Bernanke’s in-house Fed economists have found that the Fed wasn’t responsible for the boom which subsequently turned into the biggest bust since the 1930s. Are those the same Fed staffers whose research led Mr Bernanke to assert in Oct. 2005 that “there was no housing bubble to go bust”? The reasons for the US and the UK central banks inflating the bubble range from incompetence and negligence to just plain spinelessness. Let me propose an alternative thesis. Did the US and UK central banks collude with the politicians to ‘steal’ their nations’ income growth from the middle classes and hand it to the very rich?

[traderabc] 28/1/2010 16:43

Keiser Report – Markets! Finance! Scandal!

[traderabc] 27/1/2010 23:41

Ron Paul,USA is Bankrupt,Quit Buying Bombs,Fix America with our Not Unlimited Credit or We're Done

[traderabc] 27/1/2010 21:18

January 27, 2010
MA Dem Chews Out Geithner: "Stinks To High Heaven"

[traderabc] 27/1/2010 20:17

Why me?

Richard Russell snippet
Dow Theory Letters
posted Jan 27, 2010

January 26, 2010 -- It's eleven PM at night. I wake up, and I start to think. Why me? I'll be 86 years old in July. How did it happen? Most of my friends and old school mates have died. I'm living with a different generation. My wife, Faye, is 32 years younger than I am. I was born in 1924. Why me? Why am I still alive. I could have died in World War II. One minor adjustment by a German 88 anti-aircraft gunner, and I could have been blown out of the nose of my B-25. Why did I live through the War when many of my buddies didn't make it? I had two heart attacks, but I lived through them. Then I had a stroke over a year ago.

I came out of the stroke in good shape mentally. My balance is no good, and I have trouble walking any considerable distance. After 100 yards my hip joints hurt. I live with it. On the one hand I hate being old (ahem, older). But I'm thinking tonight that I've lived through and seen sights that not many living people have seen.

[traderabc] 27/1/2010 15:04

Tuesday, January 26, 2010
Jim Rogers responds to Jim Chanos over China Bubble


Jan. 25 (Bloomberg) -- Jim Chanos, founder of Kynikos Associates Ltd., talks with Bloomberg's Margaret Brennan about China's real estate market and investment strategy for the region. Chanos, speaking from London, also discusses regulatory proposals for hedge funds. (Source: Bloomberg)

[traderabc] 27/1/2010 12:54

C2I

Sounds a bit too good to be true, I've heard this kind of thing about Silver for years and years, $17- tells me it hasn't happened yet.
These is little doubt that if the present course continues, fiat currency is doomed, but these processes usually take decades of incremental moves in either direction while the primary trend unfolds.
J Willie is making a bold and somewhat wild prediction, an imminent LBMA blow up implies fast 100s of % updraft in Gold, he could be right,but it is unlikely. Nickel blew up at the LME a few years ago, these things will happen occasionally but I won't be holding my breath.

I'm suspecting a touch near 1k and 1600, within a year.... if we are lucky.

[traderabc] 27/1/2010 12:53

"The biggest single gift was the AIG rescue. No one has ever provided a good argument for why we did it other than we were bailing out Goldman Sachs."
-Joseph E. Stiglitz Nobel Economics Prize Winner

[traderabc] 27/1/2010 00:03

Keiser Report – Markets! Finance! Scandal! – with Nomi Prins

[contrarian2investor] 26/1/2010 19:29

Hi traderabc,

I found this on the GOLD thread. I would appreciate your viewpoint on the claims. Thanks in advance.

c2i
--------------------------------

yikyak - 26 Jan'10 - 13:21 - 77746 of 77765


During the trend decline or the counter rally for the USDollar, a constant event persists. The London metal inventory is being totally depleted of gold bullion. Fast approaching is the event of GAME OVER for London, a condition that has already reached critical level according to a key reliable source of information with London connections and direct experience there. The paper gold market and the physical gold bullion market have finally separated in a practical manner, meaning actual gold has almost no role anymore in London paper contract settlement.

The absence of gold in London requires extraordinary tactics to settle contracts and to obtain gold bullion. Intimidation and bribes accompany gold delivery demands. They have almost zero gold, its supply having been drained in high volumes since early December, a process currently in acceleration. The opportunity to convert fiat money into precious metal weight is closing, at least at prices considered reasonable. The London gold banker said, "There is going on a lot more than meets the eye. The physical system is actually consolidating bigtime and is organizing itself with lightning speed, totally hidden from pretty much anyone, even the so-called insiders. The paper precious metal market and the physical precious metal market have defacto disconnected. The paper and physical gold markets currently operate in parallel universes. The outflow of physical metal from bank vaults is happening at a mind bending pace." The true gold price might very soon become unknown, an extremely positive development. Gold market disruption leads to chaos, followed by much greater clarity. Like a bankruptcy process, the event is sudden but the cleanup takes weeks as dust settles. Right now, we see strong attempts using naked gold short contracts at the London metals exchange (LBMA) and the COMEX in the United States to drive down the gold price. It is all illegal and permitted. Margin calls have hit, forcing further selling of paper contracts. Before long, no gold metal will be available until clarity and prosecutions

Jim Willie
Hat Trick Letter

[traderabc] 26/1/2010 14:41

Jim Rogers Bloomberg Interview 25 January



Or here

[traderabc] 26/1/2010 14:38

Economic Black Hole:



20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover
Author: Contributing Author
- January 24th, 2010



This article has been contributed by The Economic Collapse blog for your reading pleasure.

Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly. But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover.

The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here.

And it is going to be painful.

The following are 20 reasons why the U.S. economy is dying and is simply not going to recover….

[traderabc] 25/1/2010 18:32

When you come to a fork in the road take it

Bob Moriarty
Archives
Jan 26, 2010

I'd love to say I made that up but I didn't. Yogi Berra came up with it.

I've read financial analysis from others for years. One technique that is pretty common and I resent a lot is the writer's tendency to talk out of both sides of his mouth. A report will say that something will go up unless it goes down. That's simply brilliant but there really is no other alternative. Everything goes up, stays the same or goes down. Most of the time it's pretty useless to say it's going up unless it goes down.

So I'll say it. We are at a fork in the road. My call for a top in gold and a bottom in the dollar back in November was pretty close. I missed the top in gold by three days but hit the bottom in the dollar. My gut feeling is that the gold decline is pretty much over and it may be safe to go back in the water. Gold shares are still at record lows in historical perspective.

[traderabc] 25/1/2010 18:29

We Are All Speculators Now

Craig Harris
earthblognews
Jan 25, 2010

n·vest (n-vst)
v.in·vest·ed, in·vest·ing, in·vests
v.tr.1. To commit (money or capital) in order to gain a financial return

When the Keynesian fractional reserve fiat banking model was sold to the public, the idea was that the citizens would accumulate wealth and prosper, furthering wealth and prosperity among the many and building the nation from the ground up. Using hindsight, we now know it was all a fraud.

[traderabc] 23/1/2010 16:16

Counting the Cost - China's impact on the global economy

[selfservice] 23/1/2010 16:07

Jim Rogers - Commodities in a Bubble??? Are you crazy???



JP Morgan behind last weeks precious metals sell off?

[traderabc] 23/1/2010 16:06

Jim Rogers On CNBC January 14, 2010

Sun, Jan 17, 2010

Interviews, Video Interviews

Really the first television appearance this decade, Jim Rogers continues to be bullish on commodities. Jim is not doing nothing with oil, but still expects the black gold to go higher over the next decade due to declining reserves around the world. In addition, he still believes in ag commodities but states sugar has gone up rather quickly but yet still about 70% from all time highs. As always, Jim Rogers believes in buying the commodities themselves instead of commodity stocks. Finally, Jim continues to hold gold but would not buy at current levels. One precious metal he would buy is silver or palladium.