Financial Sense

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02/17/12--10:34: Why Gold, “In Extremis?” Are We There? (chan 1868375)

Last week we informed you that Iran claims to hold 907 tonnes of in gold reserves. This week we’re informed that Iran is using gold or oil to buy food as new financial sanctions have hurt its...






02/17/12--10:34: Gallup Reports Unemployment in February Increases to 9% (chan 1868375)

The U.S. unemployment rate, as measured by Gallup without seasonal adjustment, is 9.0% in mid-February, up from 8.6% for January. The mid-month reading normally reflects what the U.S. government...






02/17/12--10:34: Do We Really Know Greece’s Default Will Be Orderly? (chan 1868375)

The equities market is acting like we know Greece's default will be orderly and no threat to financial stability. It is also acting like we know the U.S. economy can grow smartly while Europe...






02/17/12--10:34: Silver Eagles Soar (chan 1868375)

United States Mint Authorized Purchasers (AP’s) ordered 3,197,000 Bullion American Silver Eagle Coins on January 3rd, the first day they went on sale. That opening day total catapulted January...






02/17/12--10:34: The Key to Markets Performance Until November 2012 (chan 1868375)

Under “Operation Twist” the Fed bought 64% of all U.S. Treasury Securities with maturities of 8 to 10 years, and 91%! of those maturing in 20 to 30 years. All with hundreds of billions of fiat...






02/19/12--20:14: Can You Tell the Difference between Gold & the S&P 500? (chan 1868375)

When is the best time to be bullish? When everyone is bearish! Often major inflection points occur when you have capitulation, whether that is bullish or bearish capitulation. These inflection...






02/19/12--20:14: Stocks Are Fairly Valued (chan 1868375)

The P/E of the S&P 500 is currently about 15, which is in the middle of the historical P/E range of 10 (undervalued) to 20 (overvalued). By ths measure stocks are fairly valued.






02/22/12--23:55: The Rime of the Central Banker (chan 1868375)

Central bankers continue to pour monetary petrol on the raging fires of insolvency. As a result, central bank balance sheets across the developed world continue to expand in size and deteriorate...






02/22/12--23:55: Globalization: Terminal Economic Cancer (chan 1868375)

The timing could be worse. Our collective economic immune system is shot, thanks to our insane 130 plus trillion dollars worth of debt, and the ever diminishing purchasing power of “our” dollar....






02/22/12--23:55: When Will China Emerge from the Global Crisis? (chan 1868375)

In 2008 and 2009 I argued that the crisis we were undergoing would affect every major economy in the world, but not necessarily at the same pace. I suggested that the US typically is quick to...






02/22/12--23:55: No Such Thing As Dow Theory “Sell Signal” (chan 1868375)

The price action earlier this month carried the Dow Jones Industrial Average above its May closing high. This has occurred in the wake of the so-called “Dow theory sell signal” from back in August...






02/22/12--23:55: Is There an Equity Bubble Developing? (chan 1868375)

It certainly would appear as though the Federal Reserve is getting exactly what they want, higher equity prices. Could the current monetary policies of “extreme” asset purchasing by the Fed be...






02/22/12--23:55: Greece Still Unresolved but Contained; Eurozone Economy Stagnating (chan 1868375)

As another week draws to a close with the bailout of Greece still unresolved, financial markets, while still volatile, appear to be taking a more positive view of the eventual outcome and its...






02/22/12--23:55: Two Years of Fears Have Disappeared (chan 1868375)

The eurozone debt crisis produced two years of fears until central bankers stepped in. The U.S. economic recovery stumbled in the fall of 2010 and again last year. Both times the U.S. central bank...






02/22/12--23:55: Keeping America Safe from...Cigars (chan 1868375)

One of the responsibilities that must keep President Obama awake at night is to keep track of exactly who America’s enemies really are. Fortunately, he has a government agency to rely on for...






02/22/12--23:55: When Risk Is Disconnected from Consequence, the System Itself Is at Risk (chan 1868375)

As long as risk is being masked or transferred to others who don't reap the gain, they only reap the losses, then the system is doomed to self-reinforcing instability and eventual collapse.






02/22/12--23:55: The Cancer of Debt and Deficits (chan 1868375)

We are coming to the point in the United States when even the US government will no longer be able to borrow at very low long-term rates. That point is a few years off, and we have time to change...






02/22/12--23:55: Mene, Mene, Tekel, Upharsin (chan 1868375)

It can be said that unless this financial ship changes course radically and immediately on debt issues, the weight of the evidence suggests severe economic problems are coming. The signs and...






02/22/12--23:55: Inflation Held in Check by Fear (chan 1868375)

History has shown us time and again that out of control money supply expansion creates inflation. In light of the trillions of synthetic dollars that have been injected into the economy by the...






02/22/12--23:55: Former Islamic Insider Offers Warning (chan 1868375)

Last week I quoted from a book by Reza Kahlili, A Time to Betray. This week I had a chance to speak with Mr. Kahlili by phone, and ask him about the Iran crisis. As a former CIA operative who...






02/22/12--23:55: Here Is the Plain Truth About Greece (chan 1868375)

Greece cannot pay its current debts back. Ever. More money is not the answer. Greece cannot even begin to recover while still chained to the Euro and unable to devalue. Greek citizens will NOT...






02/22/12--23:55: Benjamin Graham’s Curse on Gold (chan 1868375)

It seems that the mainstream investment community only takes a break from ignoring gold to berate it: one of gold's most outspoken critics, uber-investor Warren Buffett, did so recently in his...






02/22/12--23:55: The Enduring Popularity of Gold (chan 1868375)

The World Gold Council (WGC) reaffirmed the power of the Love Trade in its 2011 Gold Demand Trends report released this week. Gold demand grew 0.4 percent in 2011 despite a 28 percent year-over-...






02/22/12--23:55: Media Headlines Will Lead You To Ruin (chan 1868375)

It's quite amazing actually. Two weeks ago Barron's ran the cover page of "Dow 15,000". Over the weekend Alan Abelson ran a column titled "Everyone In The Pool". Today, CNBC leads with"Dow 13,000...






02/22/12--23:55: The Amazing Vanishing Act (chan 1868375)

Criminologists know that accounting control fraud causes greater financial losses than all other forms of property crime – combined.  Some of the world’s best economists, George Akerlof and...






02/22/12--23:55: Will the Greek Bailout Make Gold, Silver Rise or Fall? (chan 1868375)

Some investors may feel that the Eurozone debt crisis has been resolved by the bailout from the other E.U. members. Whether it has or has not, is irrelevant to the price of gold, or is it?






02/22/12--23:55: Dangerous Ideas (chan 1868375)

We are at a key turning moment in history. The actions that we will soon decide to take will be determined by the beliefs we hold. At a time like this, holding the wrong set of beliefs can destroy...






02/22/12--23:55: Fearless Prediction: On March 20, Greece WILL Default (chan 1868375)

On March 20, Greece has to come up with €14.3 billion—or else it will be bankrupt. Of course, Greece doesn’t have €14.3 billion—that’s why the Troika of the IMF, the EC and the ECB are trying to...






02/22/12--23:55: Commodities Poised for a New Rally (chan 1868375)

The market has had an impressive run since the start of the year, but one sector that has lagged is the commodities sector. Unlike general stocks, commodities are still quite a ways away from...






02/23/12--22:35: Catch the Market Rallies and Avoid the Busts with this Chart (chan 1868375)

In the New Year's edition of MoneyWeek magazine, I gave my predictions for the year ahead, along with various other contributors. I said that I was looking for a strong first quarter - with the...






02/23/12--22:35: The Quiet Recovery (chan 1868375)

While many investors have panicked and left the market after a decade of zero gains, equities have staged a stealthy recovery since their second crash of the new millenium.






02/23/12--22:35: Europe’s New Moral Hazard - Collective Action Clauses (chan 1868375)

CAC is a new sort of moral hazard. It has the potential for damage to sovereign debt financing of all types. Essentially, the structure coming out of Europe is something like this: there will...






02/23/12--22:35: Iran-Israel Scenario Spiraling Down Rapidly (chan 1868375)

In my view Israel has all but guaranteed that they will attack Iran’s nuclear facility, and that the timing is imminent. Senior Israeli military and intelligence sources said Wednesday, Feb....






02/23/12--22:35: Greek Bailout Keeps “United States Of Europe” Dream Intact…for Now! (chan 1868375)

Underlying much of what we see and don’t see regarding the modern-day tragedy that is Greece, is all about preserving the dream of a pan European nation state, a United States of Europe if you...






02/23/12--22:35: More Good News On the Job Front (chan 1868375)

We got more good news on the jobs front today as initial unemployment claims were unchanged. Well sort of, last weeks numbers were revised up from 348,000 to 351,000, and this week we were at 361,...






02/23/12--22:35: Commodity Inflection Point (chan 1868375)

With central banks easing and global manufacturing improving, how could the commodities not do well? Intermarket analysis shows us that commodities are the last to turn in a cycle and they appear...






02/23/12--22:35: The Rise of the Petrodollar System: “Dollars for Oil” (chan 1868375)

There are circumstances surrounding the demise of this failed "dollars for gold" arrangement, with a particular emphasis on how its demise will deal a major blow to global dollar demand.






02/23/12--22:35: The Age of Kremlinology (chan 1868375)

As long time readers know, we have often compared the parsing of the statements issued by the Federal Reserve to the now defunct job of 'Kremlinology'. This was a quite similar exercise during the...






02/23/12--22:35: Herding Greek Cats from Bondage (chan 1868375)

Listen to the empty words of the last bailout for Greece. Credibility with the Jackass was lost back on the third bailout, well over a year ago, out of the six bailouts in total. Perhaps it is...






02/23/12--22:35: Eight Simple Ways to Cut $1.2 Trillion from the Budget (chan 1868375)

Number 1: Eliminate free mail to Congress. Solution: Email. Number 2: Scrap 1st class airfare upgrades for federal workers. Number 3: $3.6B to run the U.N. Number 4: Cut $200 million from the...