Update: Bernanke gets his Joe Cassano on…
Update: 4/17/11~ Question Asked, Question Answered~ (emphasis from original)
…Stunningly, today we learn that to keep long rates low, the Fed may have resorted to nothing short of the same suicidal trade that destroyed AIG FP and brought the entire system to its knees. Namely, Ben Bernanke is now quite possibly the second coming of Joe Cassano, since in order to keep rates low, Bernanke is forced to a last resort action of selling billions upon billions of Treasury puts to “pin” rates low contrary to natural supply-demand mechanics…
Video: Mark Fisher talks QE2 ~ ‘it will end badly’
Courtesy of CNBC
More~ Mark Fisher talks commodities~
Vodpod videos no longer available.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!
Gold: We’re an all time high…
GOLD hit an all time high..again….1237.90 now…let’s switch Bond theme songs…
GOLD traded overnight over 1240! yowsa! probably get a pullback soon but as insurance against devaluing dollars it is still IMO a must for 20% of your holdings, hard gold not ETFs, and a safety deposit box at the bank!
TGIF!!! Silver Springs
Don’t forget the Silver if rebalancing to a defensive position….
PPI up 1.8% – another classic smack down b/w Rick Santelli and Liesman
Vodpod videos no longer available.
US producer prices rose more than expected in November, lifted by a surge in energy costs, and recorded the first year-on-year gain since last November, according to a government report on Tuesday
…The Labor Department said the seasonally adjusted index for prices paid at the farm and factory gate jumped 1.8 percent, the largest gain in three months, following a 0.3 percent rise in October.
Analysts polled by Reuters had expected producer prices to increase by 0.8 percent last month. Compared with the same period last year, producer prices surged 2.4 percent in November, posting their first gain in a year and the largest rise since October 2008….
Empire State Index:
…The New York Fed’s “Empire State” general business conditions index fell (TO) 2.55 in December from 23.51 in November.
This was the biggest monthly decline on record and the lowest reading since July 2009 when it was at minus 0.55. The index has risen from a record low of minus 22.23 in March….
Moderate in the Middle 