by Turd Ferguson
TF Metals Report
My buddy Dan Ameduri at Future Money Trends just sent out this great new video. Short and to the point, you need to watch it and then consider linking it out to your contact lists.
Too many Americans (and citizens of other, supposedly “free” countries) are trapped in a mindset that government is benevolent and the great keeper of all things good. Nothing could be further from the truth, of course, and Dan’s new video drives the point home in just over six minutes. The information about the Post Office and student loans should be required watching for all Americans.
Continue Reading at TFMetalsReport.com…
from King World News
On a wild day of trading where stock markets took a dive and gold surged $25, today London metals trader Andrew Maguire spoke with King World News about a historic event that is going to mark the death knell of the LBMA system. He also discussed where the large commercial short-stops are located in the gold market. Below is what Maguire had to say in Part II of a powerful series of interviews that have been released today.
Eric King: “Andrew, I know you have some big news about a new physical market that is coming into being. Can you talk about that?”
Andrew Maguire: “Eric, in the next two weeks you are going to hear a lot of noise as a fully-functioning, 23-hour a day global physical exchange is made mainstream….
Continue Reading at KingWorldNews.com…
by Gainesville Coins” Content Team
Overview: This week was marked by a pullback in precious metals that erased some of gold’s considerable gains to start 2015. U.S. stocks swung back and forth while Treasury yields continued to nosedive. All eyes are on Europe as it attempts to sort out the mess with Greece while keeping the European Union intact.
Continue Reading at OutsiderClub.com…
Catching problems before they arise
by Anne Tergesen
Last weekend, The Wall Street Journal published a column by Jason Zweig about Edith Berwald Steierman, an octogenarian who racked up $65,000 in margin debt in her brokerage account over the past 27 years — without realizing it.
It’s a column you should read if you have a relative who lacks financial sophistication, as Steierman admits, or who suffers congnitive impairment.
While Steierman, a New Yorker, had received monthly account statements from her brokerage firm for years showing “she owed a relentlessly escalating pile of margin debt,” Zweig’s column reports that she wasn’t aware of the debt until recently.
Continue Reading at MarketWatch.com…
by Michael Noonan
Mention is often made that one should wait for confirmation of a particular move in futures before making a commitment, either way. Last week, it appeared evidence was mounting that November could be a possible low for the correction since late 2011. Then, we run across this graph from goldchartsrus.com which shows an inordinate build-up of short positions in silver by what we would call “smart money,” “insiders.”
These large traders do not make such overtly strong commitments to the short side without expectations that things will go their way. If anything can be said about the market manipulators, mostly the elite’s central bankers/Wall Street/Fed, it does not really matter as to accurate identity, for they hide their source[s] very well. What matters is the outcome from the effort, and to date, there has been a lot of “smashing” success in taking both silver and gold lower, at will, and with no opposition.
Continue Reading at MarketOracle.co.uk…
by Wolf Richter
The oil industry is dead-serious when it talks about slashing operating costs and capital expenditures. It has to. Preserving cash is suddenly a priority, after years when money was growing on trees.
In the US, the cost cutting has reached frenetic levels. One place where it shows up on a weekly basis is the number of rigs actively drilling for oil. And that rig count dropped by 94 to 1,223 in the latest week, as Baker Hughes reported today. A phenomenal plunge, by far the worst ever. In January, the rig count crashed by 276, the most ever for a calendar month. That’s 18.4%! the rig count is now down 386 from its peak on October 10, by nearly a quarter!
Continue Reading at WolfStreet.com…