Friday, June 29, 2012

Gerald Celente on Old-Man Europe, Romney & Sons, and a Golden Summer

Germany and Greece faced off today in the Eurocup 2012 with German newspapers pushing headlines like "bye Greeks, we can't save you today." But can anyone in Europe save the monetary union from itself? Mario Monti, Italy's technocrat prime minister says there is only one week left to do it, but looking back at older headlines, it appears there have been many times Europe had only "one week left," or "ten days left." What's up with that?

And while we are on the topic of déjà vu...more ratings downgrades were issued yesterday. This time, it was Moody's downgrading 15 of the largest global banks, and its become a bit like white noise. We get it, worries are widespread, so the question is where is the safest place tohide from the tale risk of a worst-case scenario? Will we see another credit crunch, or is the best case just more "muddling through?"

Sunday, June 24, 2012

QE to infinity

"There is only one tool that can be effective in a liquidity crisis now and that is QE to infinity. For that reason it is coming. The longer it takes to come the greater it must be."

- Jim Sinclair

Friday, June 8, 2012

Reeving up the Printing Presses

"Fortress Paper Ltd. announces that its wholly-owned subsidiary, Landqart AG, a leading manufacturer of banknote and security papers, has had a material banknote order reinstated. This order was unexpectedly suspended in the fourth quarter of 2011 which negatively impacted the financial results of Landqart's operations in the first half of 2012."

- Read the full article at ZeroHedge, here:

Wednesday, June 6, 2012

Chinese Gold Imports Spike to Staggering Record Level

“Today the Chinese had record imports (of gold, roughly 104 tons) from Hong Kong. The point is the Chinese are pretty smart about this and they are buying gold in record amounts.

If you have a race to the bottom with all paper currencies, who is going to win? Is it any accident that the BIS, who define the rules for banks, are actually considering making gold a Tier-1 asset? That could imply a re-pricing of the gold market. I mean massive re-pricing because all of a sudden (gold) is, de facto, backing up some of these currencies.

I think that’s where we’re headed. I don’t see how you avoid it. Gold is taking center stage.”

- Stephen Leeb, via a recent King World News interview:

Monday, June 4, 2012

China Purchases A Record 100 Tons Of Gold In April

A month ago we were delighted to counterpoint Charlie Munger's prior remarks about the level of "civilization" of a given consumer based on their sentiment vis-a-vis gold, by demonstrating that Chinese purchases of gold from Hong Kong rose to a record. To wit: "Imports from Hong Kong were 135,529 kilograms (135.53 metric tons) between January and March, from 19,729 kilograms in the year-earlier period, according to data from the Census and Statistics Department of the Hong Kong government. Shipments in March rose 59 percent from February, yesterday's data showed." We have just gotten the April update, and, lo and behold, the country which is now the biggest buyer of gold, having surpassed India, just set a new record: "Gold imports by mainland China from Hong Kong climbed 65 percent to a record in April, advancing for a third straight month as investors sought a hedge against financial-market turmoil and an economic slowdown.Shipments totaled 103,644.5 kilograms (103.6 metric tons) in the month from 62,913 kilograms in March, according to export data from the Census and Statistics Department of the Hong Kong government today. In the first four months, imports were 239,174 kilograms from 27,114 kilograms a year earlier, according to Bloomberg calculations. China doesn’t publish such figures." In other words: in the first four months of 2012 Chinese purchases have increased by an unprecedented 782% over 2011.

- Source, Zero Hedge: