Thar’s Goooold in them thar IRAs! New record $1462…

Benny and the Inkjets cant hold the precious down~and Sister Silver is right behind

And don’t forget WTI Crude ~  $109 baby…..demand destruction coming to a local economy near you!

(more…)

April 6, 2011. Tags: , , , , , , , , , , . Economy, Obama Administration, Politics, Popular Culture, TARP, Unemployment Statistics, Wall St. Leave a comment.

*Golden* Years ~ Shiny back above $1400 – up $18 to $1402

Shiny back above $1400 as Case Shiller reminds TPTB that we are in a double dip in housing, (more on that later). Copper hitting another high, FCX moving to a high with it… I think the USD will rise, but Gold Copper, Silver will decouple, heh, from their traditional moves and will move HIGHER WITH the USD. Yeppers, sounds crazy but that’s what I think and I am playing accordingly….commodities baby FTW!

We need a new ‘Gold’ tune….

December 28, 2010. Tags: , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, Unemployment Statistics, Wall St. Leave a comment.

Heigh Ho Silver Awaaay! Silver hits 30 yr high $30.07…

~Jamie Dimon is crying somewhere~ Silver is up 70% since August :0) Sister Gold also continues to rise- $1421 an oz baby~ Gentle Ben’s insistence they have it all ‘contained’ on 60 Mins has done nada to diminish the attraction of the shiny preccious….

December 6, 2010. Tags: , , , , , . Economy, Finance, Politics, Popular Culture, Taxes, Unemployment Statistics, Wall St. Leave a comment.

Gooooold! Shiny up $14 to $1404…

and you know what that means…let’s do it Holiday style~

Jobs data was Teh Awful, again, only added 39k jobs. (We need to add 150k a month just to keep pace with population growth).

Too bad we don’t have someone, like a leader of sorts, who could, ya know, LEAD, and get some meaningful spending/tax reform and economic plan through.

But noooooo, we had to have Mr Faculty Lounge instead. No doubt he is appointing a panel or planning a ‘summit’ to talk and talk and talk and decide…nothing.

I want a ‘decider’.

December 3, 2010. Tags: , , , , , , . Economy, Labor Department, Music, Obama Administration, Politics, Popular Culture, Unemployment Statistics, Wall St. Leave a comment.

Update: CME ups margins, precious metals pull in; Gooooold! Shiny precious hits *another* high, up $16 to $1419.60

J-J-J-Jamie and the Feds tryin to knock we retail investors outta da precious metals? ~Don’t push me cuz I’m close to da edge~ We swung $35 trading range in Gold today, TBTF are playing Calvinball again, when they lose they change da roolz~

Update: Around 2:00pm ET Preccious and sister Silver began to sell off. The culprit? The CME raised margins. Some call it a pullback (‘Fed tryin’ t’knock you out’) , I call it time to buy :0> Even SLW Silver Wheaton ‘looking good‘ and I am trying not to play in Ben’s crapped in sandbox…

ZeroHedge is all over the margin increase and JPMChase’s fingerprints~

…And if that doesn’t work, there is always confiscation.

“CME confirmed silver margins raised from $5000 to $6500 (30%) effective 11/10 settl – no other metals effected”…

Keep printing Ben. Devaluing our US Dollar. Target equities, whatevs. You cannot force us back into a fixed market. Gold!

November 9, 2010. Tags: , , , , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Unemployment Statistics, Wall St. Leave a comment.

Update: up $54 to $1391.90; Gold takes off ~ up $37.00 to $1374.80 as Bernanke admits he is targeting stock prices in QE2

Update: 4:40pm ET - Shiny Precccious ~ Gold up $54.4- to $1391.90~~~Goldy knows where the USDollar is going….Down

It’s been a while, but you know what time it is~

Heh. We saw this coming

If Ben thinks he can force retail investors back into stocks by admitting he is targeting stock prices forget it.

Not now, not after we have seen Government Sachs and it’s betting against its investors with Abacus, and now JPMChase the same (and dont forget their silver market manipulation), after the flash crash caused by High Frequency Traders, after the record high hit by stocks based on absolutely nothing, in direct contradiction in fact to the health of the economy on Main St, well he is shxt out of luck.

We peasants have embraced the shiny precious.

Meanwhile back at the ranch, GS expects QE version XXXXX through 2012

November 4, 2010. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. Leave a comment.

The Next Shoe Drops ~ The Fed launches QE2, departure at 2:15pm ET

Update : FOMC announces $600B targeted toward the ‘long end’ 5-6 yrs, if they do it all yr + the reinvestment of previous purchases per NYFRB they should hit 1 Trillion.

ElErian says it will backfire and lead to QE3, PIMCO seems pixxed.

Update 11:15am ET: Gold is getting absolutely hammered. Down $25 to $1331.70. Appears the street thinks the Fed will pull its punch and disappoint. You know what I say? Good time to buy!

Were I the Fed I would move big now before Rand Paul takes my money printing machine away. Of course I think we should end the Fed at this point, they are propping up TBTF balance sheets and killing the middle class.

_____________________________

QE2 is expected to depart the Federal Reserve steaming toward the TBTF balance sheets at a clip of $500B and further purchase announcements ‘as needed’ at 2:15 pm ET!

All Aboard for falling US Dollar and rising commodities!

I for one cannot WAIT for Ben Bernanke to face the righteous wrath of Senator Rand Paul on this monetizing and taking on worthless paper to bail out TBTF.Senator Paul will no doubt ask where Bernanke thinks he gets this authority and how it helps fulfill his dual mandate of price stability and full employment, which it does not.

Since the Dems were letting the middle class go down I say we all go down or not on our merits. Let the chips fall where they may, Damn the torpedoes! Full speed ahead! Let the TBTF frakkers fail~

As the guys on the street say, we need Potted Palms on the Trading Floor now that we are monetizing the debt a la Argentina pre collapse~

And the TERRIBLE AWFUL economic data continues to roll in. What will Team Obama do now?

November 2, 2010. Tags: , , , , , , , , , , , , . Economy, FDIC, Finance, Foreclosures, Housing, Obama Administration, Politics, TARP, Taxes, Unemployment Statistics, Wall St. Leave a comment.

Holy Crxp! The Precious on a tear, new record $1270.00!!!

*Preccccious* up an astounding $22.90 right now to ANOTHER record of $1270.00.

It’s been a while, but you know what time it is…

We all know QE2 is coming. If housing takes another 20% hit, which it will, the TBTF are insolvent, again. (IMO :0>) Especially Wells and BofA who have all those HELOCS that are worthless if those homes go into foreclosure.

JPMorgan Chase analysts lowered expectations of housing recovery in the next four years. Jon Daurio, chief executive at the distressed loan purchaser Kondaur Captial, warned that home prices could fall another 20% as well….

Freddie Mac expects 4 million new and existing home sales in the third quarter, a possible 20.7% decline from last year and 23% drop from the previous quarter….

FD- We are BofA shareholders (NOT by choice, sadly we are holding the former Merrill shares, mom is very conservative and leery of letting them go). We have many, many posts here on the BofA/Merrill merger.

So, we should be seeing QE2, an ‘all new!’ HAMP or some sort, hopefully the MorganStanley 1 pg refi for CURRENT mortgage payors is in there someplace, nice to TRY TO PRETEND to avoid moral hazard once in a while boyz…

Also consider, we all HOPE and PRAY and WORK for a GOP sweep of House and Senate in less trhan 60 days (yay!), and this will put the brakes on Obamanomics to a large extent, BUT it will also stop fiscal stimulus from the Critters leaving Gentle Ben and his fear of Turning Japanese to step in. This in addition to Obama’s EXPORT plan, which I think is sadly misplaced has the USDollar tanking and GOLD rising as a result.

Another wild card is Chuckie Cheese Schumer, post election axx kicking, trying to grab some good vibes by launching a trade war with China which UNIONS want since Summers and Timmeh cannot get any results from our largest trading partner on the yuan peg.-again GOLD as safe haven/falling USD/helicopter Ben shelter as USD falls…

Anywho the precious knows what is coming and is ready for hit. This outs even sister Silver’s awesome performance in the shade.

September 14, 2010. Tags: , , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, TARP, Taxes, Unemployment Statistics, Wall St. 2 comments.

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