As I write this I am sitting om my lanai watching the sun come up....just closed out my last trade of the day. (Short AG from 17.68 to 17.57.) I trade most mornings from about 4:00 AP* time until 7 or 8. Afternoon naps become a habit, even on the links!
Life has been just great since every day turned into Saturday. I have been checking in here but not posting much, took me until this morning to figure out where everyone went.
Since it's Saturday I guess it's time for me to ride around the joint on my velocipede.
See you later,
* America's Pecker- some older maps refer to it as "Florida".
Knock that crap off before you really get old and decrepit!
Try swimming, and get a real bicycle for crying out loud, lest we hear how overweight, with high blood pressure, diabetic and suffering from dementia you are getting
Oh look, time to go work and accomplish something and the Sun hasn't even come out yet.
THAT's how you stay '29'
Cheers, S. Rex
US gold output falls
Lower Nevada mine grades were the main factor in an 8% decline in US gold production in 2014, official figures from the US Geological Survey show.
Looks like the Gold/Oil ratio is finally coming back down to earth, after hitting near 30 a few weeks ago, the ratio looks to be moving down hard very fast, now at 24.
Another shot across the bow at the Anglo-American powers. Did they just call us fascists? Huh.
"Russia and India added their voices on Monday to China's call for a new world order and endorsed Beijing's plans to mark the 70th anniversary of the end of the second world war.
The foreign ministers of the three nations met in the capital for talks just a week after US President Barack Obama made a high-profile trip to India." ......
...... "We will be celebrating the 70th anniversary of the UN and the world's victory against fascism. This provides a great opportunity for countries in the world to cherish history and look forward to the future," Wang said.
Lavrov and Indian External Affairs Minister Sushma Swaraj backed the call, with Lavrov saying the world needed to be on alert for fascism. "We must remember the tragic lesson of the events of those years," he said.
Is this just blustering that fits the script for opposition to western banking powers, or is it a legitimate threat? While I do think that there are puppet masters controlling the strings of power, I'm not sure the individual players are either aware of their strings being pulled or that they are actually knowingly aligned with the puppet masters.
Chinese 'Silk Road' Initiative to Diminish US Role in Eurasian Region
By welcoming India and Russia to participate in its "One Belt, One Road" project, Beijing dealt the final blow to Washington's idea to create a US-controlled New Silk Road in Eurasia.
S&P to pay $1.4bn to regulators in sub-prime debt case
makes you wonder where Standard and Poors got a billion or so in loose change to pay this from really ?
Oil has absolutely shot up. Now at 52 bucks from the low 40s.
It's on like Donkey Kong !
Greece's rock-star finance minister Yanis Varoufakis defies ECB's drachma threats
'I will tell Mr Schäuble that we may be a Left-wing riff-raff but he can count on our Syriza movement to clear away Greece’s cartels and oligarchies,' says Yanis Varoufakis
Yanis Varoufakis, the emerging rock-star of Europe’s anti-austerity uprising, said the European Central Bank is straying into murky waters by openly stating that it may cease to act as lender-of-last resort for the Greek financial system.
“These threats are perfectly illegitimate. They are trying to asphyxiate us with arbitrary deadlines,” he told The Telegraph during a lightning tour of EU capitals to drum up support.
A string of ECB officials have said in recent days that the institution would no longer accept Greek debt as collateral in exchange for loans after February 28, if Greece refuses to cooperate with the EU-IMF troika and walks away from its bail-out deal.
The move would cut off up to €54bn of liquidity currently keeping Greek lenders afloat. Syriza's leaders are fully aware that this would trigger a banking collapse, full-blown default and ejection from the euro within days. Greek officials grumble that the ECB is acting as a political enforcer without treaty authority. Frankfurt has full discretion over how it sets its own collateral rules and can change them at any time regardless of what the rating agencies say.
Watch where the money goes......straight out of Greece.......but at least they get their country back...........
Little Oligarch Gone Wild – Paris Hilton’s Brother Yells: “I Will F*cking Own Anyone on This Flight; They Are F*cking Peasants”
Michael Krieger | Posted Tuesday Feb 3, 2015 at 4:51 pm
“If you wanna square up to me bro, then bring it and I will f*cking fight you,” he allegedly said as well as, “I am going to f*cking kill you. I will f*cking rip through you,” and “I will f*cking own anyone on this flight; they are f*cking peasants.”
“I could get you all fired in 5 minutes,” he reportedly said while grabbing a flight attendant’s shirt at one point during the incident. “I know your boss! My father will pay this out. He has done it before. Dad paid 0k last time.”
– Conrad Hilton on an international flight
The reason I often use the terms “serfs” and “plebs” when referring to the American masses is not to insult the less fortunate; rather, it is to hammer in the fact that the oligarchs running American society see the unwashed masses as useless peasants. Naturally, they will never admit this publicly, but every now and again one of them slips up and what they really think becomes abundantly clear. Enter Conrad Hilton, Paris Hilton’s brother, and serf-master in training.
He has just been arrested for an outburst on an international flight that occurred last July. The Daily News reports the following:
Looks like daddy couldn’t save Conrad Hilton from “peasants” this time.
It makes perfect sense if you think about it: If a worker earns $7.25 an hour, which is now the national minimum wage, what proportion of that person’s income do you think ends up in the cash registers of local small businesses? Hardly any. That person is paying rent, ideally going out to get subsistence groceries at Safeway, and, if really lucky, has a bus pass. But she’s not going out to eat at restaurants. Not browsing for new clothes. Not buying flowers on Mother’s Day.
COMER vs BoC
Nomi Prins is renowned journalist, author and speaker. Before becoming a journalist, Nomi worked on Wall Street as a managing director at Goldman Sachs, ran the international analytics group as a senior managing director at Bear Stearns in London, as well working as a strategist at Lehman Brothers and an analyst at Chase Manhattan Bank. In her latest book All the Presidents' Bankers: The Hidden Alliances that Drive American Power, Prins writes about an elite group of men that has transformed the American economy and government throughout the 20th century. The books spans from the Panic of 1907 and the creation of the Federal Reserve, through two World Wars, as well as the question of whether American financial power today is in decline, which is where I want to start. Nomi, welcome to Financial Myth Busting.
PRINS: The reason I think it's going to be worse is because the Great Depression and even the financial crisis, part one, that we are still going through, were based on a clash of assets and liquidity and banking confidence and derivatives and all sorts of things that were mixed together, but what all of those things which still exist behind the scenes are having now, is this additional multi-trillion dollar subsidy program by central banks throughout the world; so $4.5 trillion from the Federal Reserve, $2.5 trillion from the European Central Bank which is Europe's version of the Fed. China has come in with reducing rates and finding ways to put money into the market. You have a coordinated effort of central banks. They really just throw fabricated money into the financial system which goes first to the largest banks and then into the market, and that we didn't have before. So you have all this extra artificial money plastering over problems that haven't been solved
The Big Lie: 5.6% Unemployment
Feb 3, 2015
Here’s something that many Americans -- including some of the smartest and most educated among us -- don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.
This country has just canceled poor people's debt
The large and unprecedented measure was endorsed by Croatia's left-wing government on January 15. Under the measure, citizens earning no more than 1,250 kuna ($184) a month, rent their property and are unable to pay off their debts will have liabilities worth up to 35,000 kuna ($5,146) wiped off. Power companies, banks, loan companies and telecom operators are included in the scheme.
Obama's 10 new taxes
Bessarabian rebels take Ukrainian patrol hostage and burn call-up papers in the village square
This Is What Gold Does In A Currency War, Australian Edition
by John Rubino on February 3, 2015 · 3 comments
Australia just fired a serious shot in the currency war by cutting its overnight lending rate to a record-low 2.25%.
With the aussie as a result tanking, local holders of bank accounts and cash are quite a bit poorer than they were at this time last year. But owners of gold are doing just fine. While the metal is falling again here in the US (which is at the moment trying to withdraw from the currency war), it’s up about 20% in the past three months in countries like Australia that are on the offensive.
Gold closed down $16.50 on the Comex today at $1259.70 moving lower as tensions in Europe subside on the shorter term. Gold saw a low today of $1255.80 and seems ready to retest the low ($1254.00) seen last Thursday.
Looking at the Gold Moving Averages is important – 50 DMA ($1223.00) – 100 DMA ($1214.00) and the 200 DMA ($1252.00). Even with today's weakness we are still trading above all 3 averages – but we are closing in on the important 200 DMA ($1252.00). Just like the test last week gold must hold above $1252.00 or we will see another round of technical selling.
So why is gold moving lower? There are a number of moving parts here but the underlying reason is that it can't gain any technical strength. Before you laugh think about it – the market has been hapless since the failure to move higher than $1300.00.