http://www.keyt.com/sports/howland-to-be-honored-by-court-of-champions/26201556
Friday, May 30, 2014
U.S. Gasoline Consumption Plummets By Nearly 75%
http://www.bullionbullscanada.com/us-commentary/26530-us-gasoline-consumption-plummets-by-nearly-75
When we look at the EIA’s “gasoline consumption” numbers, and when we see the St. Louis Fed’s chart of the U.S. velocity of money (heartbeat of the U.S. economy); we don’t see an economy which is dying. We see an economy which is already dead.
Labels:
EIA,
gasoline consumption,
Plummets,
U.S.
Thursday, May 29, 2014
US Economy Shrank By 1% In The First Quarter: First Contraction Since 2011
Gee, what a surprise. Revisions of GDP data are always downward. It must be due to the weather.
http://www.zerohedge.com/news/2014-05-29/us-economy-shrank-1-first-quarter-first-contraction-2011
http://www.zerohedge.com/news/2014-05-29/us-economy-shrank-1-first-quarter-first-contraction-2011
Labels:
First Contraction,
First Quarter,
Shrank,
Since 2011,
US economy
Wednesday, May 28, 2014
The Malinvestment Boom In Coders
The echo boom in tech is about to bust.
http://www.zerohedge.com/news/2014-05-28/malinvestment-boom-coders
http://www.zerohedge.com/news/2014-05-28/malinvestment-boom-coders
Labels:
boom,
Coders,
malinvestment
Putin Says Russia, China Need To Ensure Security Of Their Gold Reserves
Here's some background on the comment about China officially announcing their gold reserves (see article link below). Previous to 2009, China's central bank officially only had a few hundred tons of gold reserves. After accelerating their buying programs, they announced they had accumulated 1054 tons in 2009. This was one of the reasons why gold prices surged even higher into 2011 to an all-time high of $1923/oz.
Since that official announcement, the Chinese have been methodically adding to their reserves (some analysts would describe the buying as furious). Recent estimates of Chinese gold holdings from observers at Swiss refiners, COMEX and ETF vaults, and Hong Kong and Shanghai exchanges range from 4,000 - 6,000 tons. Some theorize it is not only western central banks (specifically the Fed and the Bank of England) and their bullion bank proxies suppressing the price of gold (in order to mask the debasement of the USDollar), but the Chinese are also suppressing prices in order to buy physical gold bullion at lower prices.
In essence, the western banks naked short paper gold contracts, artificially driving down spot prices, while Chinese (as well as Indian, Russian, Asian, and Middle Eastern) buyers are snapping up physical gold at discounted prices. This blowback emptying of vaults will ultimately doom the economies of the bankrupt western world, signifying the largest wealth transfer in history from the western economies to the eastern.
The take away message is if and when the Bank of China officially announces their gold reserves, the tonnage will be so high that markets will react violently and bid up the price of gold again, as it did in 2009.
http://www.zerohedge.com/news/2014-05-28/putin-says-russia-china-need-ensure-security-their-gold-reserves
Since that official announcement, the Chinese have been methodically adding to their reserves (some analysts would describe the buying as furious). Recent estimates of Chinese gold holdings from observers at Swiss refiners, COMEX and ETF vaults, and Hong Kong and Shanghai exchanges range from 4,000 - 6,000 tons. Some theorize it is not only western central banks (specifically the Fed and the Bank of England) and their bullion bank proxies suppressing the price of gold (in order to mask the debasement of the USDollar), but the Chinese are also suppressing prices in order to buy physical gold bullion at lower prices.
In essence, the western banks naked short paper gold contracts, artificially driving down spot prices, while Chinese (as well as Indian, Russian, Asian, and Middle Eastern) buyers are snapping up physical gold at discounted prices. This blowback emptying of vaults will ultimately doom the economies of the bankrupt western world, signifying the largest wealth transfer in history from the western economies to the eastern.
The take away message is if and when the Bank of China officially announces their gold reserves, the tonnage will be so high that markets will react violently and bid up the price of gold again, as it did in 2009.
http://www.zerohedge.com/news/2014-05-28/putin-says-russia-china-need-ensure-security-their-gold-reserves
Labels:
China,
Ensure Security,
gold reserves,
Putin,
Russia
Tuesday, May 27, 2014
Exxon, BP Defy White House; Extend Partnership With Russia
The largest energy companies are thumbing their nose at US economic sanctions against Russia.
http://www.zerohedge.com/news/2014-05-27/exxon-bp-defy-white-house-extend-partnership-russia
http://www.zerohedge.com/news/2014-05-27/exxon-bp-defy-white-house-extend-partnership-russia
Labels:
BP,
Defy,
Extend Partnership,
Exxon,
Russia,
White House
China Invites Top Foreign Banks to Global Gold Exchange
Shanghai wins, New York and London lose.
http://www.metal.com/newscontent/61012_china-invites-top-foreign-banks-to-global-gold-exchange
http://www.metal.com/newscontent/61012_china-invites-top-foreign-banks-to-global-gold-exchange
Labels:
China,
Global Gold Exchange,
Invites,
Shanghai,
Top Foreign Banks
How The Really "Smart" Money Wins
...or how to turn $600,000 into $6,250,000 illegally and get away with it since the feckless SEC enables fraud instead of regulating it.
http://www.zerohedge.com/news/2014-05-27/how-really-smart-money-wins
http://www.zerohedge.com/news/2014-05-27/how-really-smart-money-wins
Labels:
how,
Really Smart Money,
wins
Bad Credit No Problem as Balance-Sheet Bombs Rally 94%
http://www.bloomberg.com/news/2014-05-26/bad-credit-no-problem-as-shares-of-balance-sheet-bombs-rise-94-.html
In the U.S. equity market, the worse a company’s finances, the better it’s doing.
Stocks with the weakest balance sheets have climbed more than 8 percent in 2014 and 94 percent since the end of 2011, generating almost twice the gain in the Standard & Poor’s 500 Index (SPX) over that period, according to data compiled by Bloomberg and Goldman Sachs Group Inc.
Labels:
Bad Credit,
Balance-Sheet,
Bombs,
no problem,
rally
Monday, May 26, 2014
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