What’s Next? for July 10th, 2014 – Gold Going Higher, and Fracking Facts

from Financial Survival Network Gold and silver are much higher this morning. It looks like the Black… [more]

What’s Next? for July 10th, 2014 – Gold Going Higher, and Fracking Facts What's Next? for July 10th, 2014 - Gold Going Higher, and Fracking Facts

Dr. Frackenstein – Tales From The Oil Patch

from Financial Survival Network Our weary petroleum engineer Dr. Frack returns with some interesting… [more]

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Tom Dyson – Stocks vs. Gold

from Financial Survival Network Tom Dyson publisher of the Palm Beach Letter was back on with us. As… [more]

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What’s Next? for July 9th, 2014 – Gold’s Up and Trouble In The Oil Patch

from Financial Survival Network FOMC minutes get released showing a desire to end QE in October and… [more]

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Michael Krieger – Is ISIS Really Using Bitcoin?

from Financial Survival Network Michael Krieger joined to discuss various memes taking place in society. Right… [more]

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John LeBoutillier – Time to Seal the Border and Stop the Madness

from Financial Survival Network We caught up with John LeBoutillier earlier today. There's a disaster… [more]

John LeBoutillier – Time to Seal the Border and Stop the Madness John LeBoutillier - Time to Seal the Border and Stop the Madness

John Manfreda – What’s with Gold and QE?

from Financial Survival Network We caught up with John Manfreda of Wall Street for Main Street. Something… [more]

John Manfreda – What’s with Gold and QE? John Manfreda - What's with Gold and QE?

What’s Next? for July 10th, 2014 – Gold Going Higher, and Fracking Facts

from Financial Survival Network

Gold and silver are much higher this morning. It looks like the Black Swans are circling Portugal’s and Europe’s banks, once again. The price is just about at Charles Nenner’s $1,342 peak for July, but it could still go higher. A trend in motion…

We’ve got some interesting facts about fracking, specifically about it’s possible relation to increased seismic activity in Oklahoma.

Stay tuned as live interviews from FreedomFest 2014 are coming soon.

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Tom Dyson – Stocks vs. Gold

from Financial Survival Network

Tom Dyson publisher of the Palm Beach Letter was back on with us.

As with many, he’s perplexed by the seemingly endless rise of the stock market. However, that hasn’t stopped him from searching for bargains. He likes Goodyear because it’s cheap and has an excellent brand and also because it’s in the replacement tire market, which is poised for growth.

Tom is also bullish on precious metals. He thinks they very well may have turned the corner, but isn’t totally convinced, but who is?

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Dr. Frackenstein – Tales From The Oil Patch

from Financial Survival Network

Our weary petroleum engineer Dr. Frack returns with some interesting news. Seems like the oil industry has become too fixated on quarterly results and is ignoring some troubling safety issues. Not earthquakes in Oklahoma or gas coming out of your kitchen faucet. No we’re talking about H2S gas that has the potential to kill people. Dr. Frack is fed up with them cutting corners. We’re not talking about the inherent dangers of fracking, we’re talking about risky behaviors that companies engage in to save money. There’s a big difference.

Click Here to Listen to the Audio

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George Magnus on Chinese Economy & Eswar Prasad on Possible Asian Currency War

from BoomBustRT

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Harvey Organ’s Daily Gold & Silver Report – Thursday, July 10, 2014

Slight decrease in inventory at GLD/No change in inventory at SLV/silver and gold advance/gold shares whacked indicating a possible raid tomorrow/Israel calls up 20,000 troops and thus a possible ground invasion/More trouble at the Portuguese ESI bank

by Harvey Organ
Harvey Organ’s Daily Gold & Silver Report

Gold closed up $14.90 at $1338.70 (comex to comex closing time ). Silver was up 44 cents at $21.46

In the access market tonight at 5:15 pm
gold: $1335.50
silver: $21.40

GLD: a slight decrease of .25 tonnes at the GLD (tonnage now 800.05 tonnes).

SLV : no change in silver inventory at the SLV .

Gold trading for the past 24 hours:

Gold held steady throughout the night at around the $1327.00 level and then at around 6 am, gold spurted to $1344.00 and silver from a base of $21.12 rose to $21.54. At that point, the bankers used their paper muscle and supplied massive amounts of shorted paper to drive gold down. Gold finished at $1338.50 and silver at $21.46.

Continue Reading at HarveyOrgan.Blogspot.ca…

Indentured Students

from daytradeshow

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Portugal Banking Crisis Sends Tremors Through Europe

Portugal’s regulator suspends trading of Banco Espirito Santo after its share price crashes 17pc, reviving worries about the health of Europe’s banks

from Telegraph.co.uk

A mounting crisis at one of Portugal’s biggest banks and signs of a deepening economic slowdown in Europe have sent tremors through financial markets, triggering a sharp fall on European bourses and a flight to safety across the world.

Portugal’s regulator suspended trading of Banco Espirito Santo after its share price crashed 17pc in Lisbon, reviving worries about the underlying health of Europe’s banks. The STOXX index of European lenders fell to its lowest this year following a bank run in Bulgaria and a profits shock from Austria’s Erste Bank. The index is down 11pc since early June.

Yields on Portugal’s 10-year debt surged 20 basis points on Thursday to 3.95pc, with contagion spreading to Greek, Spanish and Italian debt.

Continue Reading at Telegraph.co.uk…

The Current Repo Fails Issue Rebukes Any Notion That The Fed Is In Control

from Zero Hedge

As we have discussed at length, the issue of the surge in Treasury fails (and the Fed’s panicked “sell your bonds” response) suggests things are far less ‘stable’ than they would like the world to believe. Simply put, “Repo Matters” as Alhambra’s Jeffrey Snyder discusses below:

The current repo fails problem “directly rebukes” the idea that the Fed has “all possible scenarios covered.”

  • For the Fed to have all scenarios covered would mean that the NY Fed’s SOMA portfolio has to maintain a “broad enough inventory” to satisfy the market

Continue Reading at ZeroHedge.com…

Introducing Ghost Skyscrapers – NYC Real Estate Goes Full Retard

by Michael Krieger
Liberty Blitzkrieg

Late last month, New York Magazine published a lengthy and very important article titled: Stash Pad – Why New York Real Estate is the New Swiss Bank Account. The entire article is well worth a read, and left me shaking my head in disbelief the entire time. As someone who grew up in New York City, it’s a real shame to see the continued transformation of Manhattan into nothing more than an oligarch playground, or as I sometimes like to call it, “Disneyland for Wall Street.”

One of the most shocking and disturbing revelations from that article was the fact that:

“The Census Bureau estimates that 30 percent of all apartments in the quadrant from 49th to 70th Streets between Fifth and Park are vacant at least ten months a year.”

Continue Reading at LibertyBlitzkrieg.com…

More Bullish On Mining – FreedomFest Founder Mark Skousen

from Kitco NEWS

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Paging Dr. Robot: Please Make Your Way to the OR

Robotic-assisted surgery is on the cusp of a breakthrough… and poised to offer savvy investors outsized profits

by Chris Wood, Senior Analyst
Casey Research

They say a picture is worth a thousand words; this one could have been worth nearly $800,000.

This “picture” is a chart of Intuitive Surgical’s stock price from February 28, 2003 to May 1, 2012. Over this 9.17-year period, ISRG’s share price rose from $7.52 to $588.28, a gain of more than 7,700%. If you had invested just $10,000 in ISRG at the beginning of this period, you would have been sitting on more than $780,000 at the end. For comparison, a $10,000 investment in the S&P 500 over the same time frame would have netted only $16,700.

While the kinds of returns that ISRG provided in such relatively short order are extremely rare, the space in which the company operates still has the potential to offer savvy investors life-changing gains in the years ahead.

Here’s the story.

Continue Reading at CaseyResearch.com…

Millennial Support for Big Government Overblown by Media

from ReasonTV

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Secessionist Movements & Localized-Globalization

by Justin O’Connell
Dollar Vigilante

The winds of independence are blowing throughout the world, and nothing could be better for our future. This host of seccessionist movements, from Crimea to Venice to the US has major implications for the future of life on earth, and spells decentralization for a heretofore centralized world. But localization does not necessarily mean withdrawal from the world “out there,” just withdrawal from those institutions beyond our local communities or without our consent which have a proclivity to dominate.

One common thread between today’s governments is wanton printing of fiat currencies by central banks. Not all governments are printing to Zimbabwean levels, yet, but many are nearing that point. In any case, all have centralized monetary policies usually involving highbrow yet banal men (or now women, with Janet Yellen)… in either case they have beards and sit beady eyed in secret rooms. Part of the reason why the US crisis seems in a frozen state since the 2008 banking nadir has everything to do with the fact that other central banks are printing just as much or more of their own currencies as the Federal Reserve. What does this mean?

Continue Reading at DollarVigilante.com…

On Karen Hudes & The Real 2nd Species: Psychopathic Banksters

from SGTreport.com

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Selling Hits Gold Late In Session; Miners Hit Hard

by Dan Norcini
Trader Dan Norcini

It did not take long for the longs in the gold mining sector to start a wave of profit taking. That came in when the mining indices could not extend their early-in-the-session gains. As a matter of fact, the opening print on many issues was the high for the day, or very near the high of the day. From that point forward, the shares drifted lower most of the session until they began to accelerate lower during the last hour of trading.

The result is a SHORT-TERM sell signal on the price chart although no major damage has been done to the uptrend at this point.

Continue Reading at TraderDanNorcini.Blogspot.ca…

European Banks Insolvent. Global Financial System Malignant.

from Gregory Mannarino

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Gold Daily and Silver Weekly Charts – Watch Silver

from Jesse’s Café Américain

The precious metals had an interesting pop this morning on equity weakness, but like most light volume sleepy days in Summer that did not last.

Gold had an interesting spike up to about 1344, but I am watching silver for any clues on which way the metals are heading, and so far silver is playing rope-a-dope on any pullbacks, hanging on to 21.

There was some movement in the silver warehouses, with CNT providing the flow.

If we do get any kind of metals breakout I think it will happen after the 16th towards the latter part of the month.

Continue Reading at JessesCrossroadsCafe.Blogspot.ca…

Steve Forbes: Only A New Gold Standard Will Save The U.S. Dollar | FreedomFest 2014

from Kitco NEWS

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Escape Velocity? As Good As It Gets? Or A Dangerous Economic Extreme?

by Lee Adler
Wall Street Examiner

Initial claims for unemployment remain near bubble record levels after first reaching that extreme in September of last year. The warning signs of a distorted, maladjusted, overheated economy continue.

The headline, seasonally adjusted (not actual) number for initial unemployment claims for the week ended July 5, the 26th week of the year, was 304,000. The consensus guess of Wall Street economists was 311,000, a good guess. The actual numbers, which the Wall Street captured media ignores, continue to show claims near the levels reached at the top of the housing/credit bubble in 2006, a condition which has now persisted for 10 months. Since September 2013 when the number of claims first fell to a record low, the numbers have suggested that the central bank driven financial engineering/credit bubble has reached a dangerous juncture.

Continue Reading at WallStreetExaminer.com…

Mortgage Deals Leave Thousands Vulnerable If House Prices Fall

Number of high-value, low-deposit loans rose to post-crisis peak in June, says leading chartered surveyor

by Szu Ping Chan
Telegraph.co.uk

A “glut” of mortgage deals aimed at buyers with small deposits pushed the number of homeowners vulnerable to a slump in property prices to a post-crisis high in June, according to the UK’s biggest chartered surveyor.

The number of households that took out mortgages with deposits of 15pc or less of a property’s value rose to 10,898 in June, up from 9,750 in May and 7,166 a year ago, according to e.surv.

Continue Reading at Telegraph.co.uk…

Mortgage Bankers: ‘Unsustainable Housing Bubble Is Inflating’

by Wolf Richter
Wolf Street

Observations about a housing bubble being once again inflated in many areas in the US have transitioned from bloggers throwing around unpleasant party-pooper data to mortgage bankers.

In a survey conducted by the Professional Risk Managers’ International Association for FICO – the same company after which the infamous and ubiquitous FICO score is named – found that industry insiders directly involved in mortgage lending are now on edge. They’re seeing from the close-up viewpoint what we have seen for over a year, and what the Fed still refuses to see – while it categorically declares that it cannot be seen by anyone in the first place.

So 56% of the mortgage banker respondents fretted that “an unsustainable real estate bubble is inflating.”

Continue Reading at WolfStreet.com…

(What’s Left of) Our Economy: Why Rates Will Stay Low

by Alan Tonelson
Reality Check

The economics world is all abuzz these days about U.S. interest rates. No doubt that’s largely due to the release today of the minutes of the last (June) big Federal Reserve meeting on the state of the economy, finance, and monetary policy. But there have been some other contributors as well:

> the stock market’s unusually low levels of volatility;

>a New York Times article noting the astonishing, and surely related, rise in the price of stocks and nearly all other classes of assets recently – risky and non-risky alike;

>a new report from the Bank of International Settlements (a grouping of the world’s central banks) warning that the virtually non-existent rates and thus minimal bond returns created by unprecedented world-wide (or nearly so) central bank easing are producing a massive level of bad, unproductive investments everywhere you look;

Continue Reading at AlanTonelson.WordPress.com…

Steady Demand Driving Gold, Not Exuberance – Phillips

Plain old demand is driving up gold prices with precious little metal to go around a tight market, Julian Phillips of the Gold Forecaster argues.

by Julian Phillips
Mine Web

Johannesburg (Gold Forecaster) – Gold Today – The gold price closed at $1,327.70 up $8.00 on Wednesday in New York. In Asia, prices rose to $1,329.00 ahead of the London’ opening. London took the gold price up to $1,343.25 at the Fix up $20.75 and in the euro at €985.221 up €13.509, while the euro was stronger at $1.3634. Ahead of New York’s opening, gold was trading at $1,342.70 and in the euro at €986.19.

Silver Today – The silver price closed in New York at $21.11 up 7 cents. Ahead of New York’s opening it was trading at $21.50.

Continue Reading at MineWeb.com…

How Will Higher Inflation Impact Currency Exchange Rates?

from Arabian Money

With the Fed warning of inflation ‘noise’ and the ECB out to avoid more deflation and the Bank of Japan out printing both central banks, how will higher inflation impact currency exchange rates going forward this year?

Hamish Pepper, Forex Strategist, Asia Pacific at Barclays, expects the Fed to acknowledge a rise in US inflation in the near term and discusses how that will move markets…

Continue Reading at ArabianMoney.net…

Reason-Rupe Poll: ‘Millennials Aren’t Liberals, They’re Social Liberals and Fiscal Centrists’

from ReasonTV

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Amazon Charges Penny for Shipping Following France Ruling Shipping Cannot Be Free; “No Competition” Laws

by Mike “Mish” Shedlock
MISH’S Global Economic Trend Analysis

Under “unfair competition” laws France has decided it is far better for consumers to pay full price for goods than to receive a discount. Striking out at Amazon, France passed a law dubbed the “Anti-Amazon Law”, that banned free shipping. Amazon’s response was to charge a penny, but sadly it can no longer offer discounts on books.

The Wall Street Journal reports Amazon Shelves French Book Discounts.

Amazon.com Inc. ended all book discounts in France on Thursday, and began charging a token penny for shipping books, bowing to a new French law aimed at protecting local bookstores from what they had described as “unfair competition” from the U.S. online retailer.

The new law, which went into effect Thursday morning, essentially forbids online booksellers from applying government-regulated discounts to the cover prices of books. They can mark down shipping under the new law–often called the “Anti-Amazon” law–but they cannot offer it free.

Continue Reading at GlobalEconomicAnalysis.Blogspot.com…

Are the 12 Regional Banks of the Fed Private Entities?

Well, if you take the US Supreme Court and representatives of the Federal Reserve System at their own words, the case is pretty clear: the member banks of the Federal Reserve System are private corporations / banks.

by Lars Schall
LarsSchall.com

Related to a book that I’m writing in German, I was asking myself whether the 12 regional Federal Reserve banks are privately owned.

The US Supreme Court, I found out, said this on January 3, 1928 in the case “United States Shipping Board Emergency Fleet Corporation v. Western Union Telegraph Co.“:

Instrumentalities like the national banks or the federal reserve banks, in which there are private interests, are not departments of the government. They are private corporations in which the government has an interest. Compare Bank of the United States v. Planters’ Bank, 9 Wheat. 904, 907, 6 L. Ed. 244.

See here for yourself.

Continue Reading at LarsSchall.com…

Why The Fed Announced The End Of Bond Purchases In The Minutes

by Greg Robb
Market Watch

Having roiled financial markets in March for suggesting the first interest-rate hike could come “six months” after the end of the bond-buying program, Fed Chairwoman Janet Yellen appeared in no mood to test her luck again, analysts said.

As a result, the Fed didn’t disclose the planned timetable for wrapping up its bond-buying program until the release of the minutes of the policy meeting, three weeks after Yellen’s press conference.

“Just my guess, but it seems like Yellen [was] being extra careful after the ‘six months’ fiasco a few months back,” said Kim Fraser Chase, senior economist at BBVA Compass.

The Fed announced in the minutes released Wednesday that it generally agreed to end the bond-buying program, also known as QE3, with a final $15 billion taper in October, rather than extending it until its December meeting. The Fed has been trimming the program by $10 billion at each meeting this year and this would have left a $5 billion rump of Treasury purchases without the larger taper.

Continue Reading at MarketWatch.com…

Silver: What Stage Are We At? Mike Maloney & Ed Steer

from whygoldandsilver

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It’s Always Been About Getting Out – Not In

from Zero Hedge

Submitted by Mark St. Cyr,

An issue that has been debated more times across the financial media than the main stream media’s fixation on some celebrities bottom has been about “missing out” or “getting in” since the so-called “generational bottom” of 2009.

What has been lost on so many of the nascent “just buy the dips” crowd is they have been systematically rewarded as to forgo any objective analysis on why this market keeps rising; and like Pavlov’s dogs they’ve been rewarded every-time they’ve answered the opening bell.

Getting in to buy every dip fueled with free and easy money to spend via the Federal Reserve has taken little skill or expertise. However, who is going to be there to buy what you’re holding; when you want out? Especially in any unexpected downdraft.

Continue Reading at ZeroHedge.com…

The World Is On Fire & We Will Soon See A 2008-Style Collapse

from King World News

Today a 42-year market veteran warned King World News that the financial world is now on fire and we will soon see a 2008-style collapse. Below is what Egon von Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this extraordinary interview.

Greyerz: “Eric, the cracks in the world and the world economy are getting greater by the day, and we are soon entering a stage where these cracks will turn into black holes. One of Portugal’s largest banks is now under real financial pressure. And in Austria, the Hypo Alpe Bank is finished. Erste Bank is also under pressure due to major losses on mortgage loans in Swiss francs to Hungary and Romania….

Continue Reading at KingWorldNews.com…

Operating in a “Shadow Rate” World – Fed Funds Closer to Negative 3%

by Matthew Kerkhoff
Financial Sense

By adjusting the policy rate (the federal funds rate), the Fed alters financial conditions, which then influences the behavior of businesses and households. These changes impact a variety of decisions, including how much to consume, produce, and invest.

In December of 2008, after reducing interest rates over an ~18 month period, the Federal Reserve hit the zero bound. They decreased the federal funds rate to the 0 to 1/4 percent range where it currently sits. In response to the zero bound being hit, exotic, never before seen forms of stimulus were put into play.

When short-term rates could not be reduced any further, the Fed implemented additional measures to suppress longer-term rates, which have not hit the zero bound.

Continue Reading at FinancialSense.com…