2 articles on gold and oil

Swiss gold bug cleans out S Africa Krugerrand coin maker
http://www.thisislondon.co.uk/standard-business/article-23546821-details/Swiss+gold+bug+cleans+out+S+Africa+Krugerrand+coin+maker/article.do

My comment - who cares if gold costs $1, if you can get any? Another explanation for Krugerrands is Indian buying I posted before here:
http://jessescrossroadscafe.blogspot.com/2008/08/lower-prices-send-sales-of-physical.html

---

Russia may cut off oil flow to the West
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/29/cnrussia129.xml

My comment - I no longer believe Telegraph, however Russians may well do it.

Chat with friend from Ukraine

This is chat with friend from Ukraine, nothing is changed, these are his thughts.

---

hi.

Analysis: Is Ukraine the next domino?

http://edition.cnn.com/2008/WORLD/europe/08/28/russia.ukraine.oakley.analysis/index.html
hows the situation?

---

Situation is very unstable. Russia give a huge amount of money for our Russia-leaning politics and make effort for unstabling situation in Ukraine.

We have russian-speaking east and people in this region don't know anything about EU, NATO etc. And politicans use this lack of information and tell to this people that NATO is agressive organization and if Ukraine become member of NATO we will take part in war in Afganistan, Iraq etc.

I hate Russia.

Chineze selling...

+-----+---------+------+-------+--------+------------+

|     | Time    | Price|     Change     | Volume     |

+-----+---------+------+-------+--------+------------+

| FNM | 11:33AM | 6.94 | -1.01 | 12.70% | 48,091,852 |

| FRE | 11:33AM | 4.55 | -0.73 | 13.83% | 55,803,538 |

+-----+---------+------+-------+--------+------------+

Funny movie: Attack of the Pump

Go Back to Bed! Everything is Fine. Goldilocks is Back!

This is why they understated the inflation and GDP deflators.

Readings

General Dynamics Corporation
http://www.wallstrip.com/2008/08/29/general-dynamics-corporation-gd/

From Bearwatch:

Impending gold explosion?
According to "Jesse", India is buying physical
gold like there's no tomorrow, and they've run out of supplies of Krugerrands in
SA:
http://jessescrossroadscafe.blogspot.com/2008/08/lower-prices-send-sales-of-physical.html

...or...

Impending dollar implosion?
Mish reports a notion that
there's heavy foreign buying of US Treasuries supporting the dollar; how much
longer can it be kept up?
http://globaleconomicanalysis.blogspot.com/2008/08/is-massive-foreign-treasury-buying.html

Bank of China Reduces Fannie, Freddie Investments
from Calculated Risk by CalculatedRisk

From the Financial Times: Bank of China flees Fannie-Freddie Bank of China has
cut its portfolio of securities issued or guaranteed by troubled US mortgage
financiers Fannie Mae and Freddie Mac by a quarter since the end of June.

http://feeds.feedburner.com/~r/CalculatedRisk/~3/377583694/bank-of-china-reduces-fannie-freddie.html

Lower Prices Send Sales of Physical Gold 'Skyrocketing' in India
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/lower-prices-send-sales-of-physical.html
(We run out of Krugerrands as posted already)

Is Massive Foreign Treasury Buying Causing A US$ Rally?
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/377900090/is-massive-foreign-treasury-buying.html
Yeees, this is what I post here:
http://www.novini.net/2008/08/side-effects-why-us-treasury-bond-may.html

GDP Much Weaker Than Headline Numbers
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/377851801/gdp-much-weaker-than-headline-numbers.html

Uh-Oh ... From Russia, With Anger
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/08/uh-oh-from-russia-with-anger.html

Readings

The New World Order
from Bearwatch by noreply@blogger.com (SACKERSON)
http://feeds.feedburner.com/~r/Bearwatch/~3/377175354/new-world-order.html

Did someone say gappy?
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/377229224/did-someone-say-gappy.html
(some gaps filled, some - no)

Plunge Protection Team, Pakistan Style
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/376822406/plunge-protection-team-pakistan-style.html
(Funny, but true)

Gold and Oil Long Term Weekly Charts
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/gold-and-oil-long-term-charts.html

China picks hyperinflation (*)
from The Yellow Brick Road by Andy Bebut
http://yellowroad.wallstreetexaminer.com/blogs/2008/08/27/china-picks-hyperinflation/
...and...
http://media.bloomberg.com/bb/avfile/Economics/On_Economy/vf.E9_lI20kM.mp3
...and...
http://online.wsj.com/article/SB121977933300473727.html?mod=googlenews_wsj

Thursday Oil Market Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/08/thursday-oil-market-round-up_28.html

Bearish news on energy
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/08/bearish-news-on-energy.html

Iraq Seals the Deal with China ... Bad News for US Oil Giants
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/08/iraq-seals-deal-with-china-bad-news-for.html

Either the Global Economy Is Heading Into Recession or Commodities Are About to Surge
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/08/either-global-economy-is-heading-into.html

Odit :)

Today I had company... odit :)

FDIC may borrow money from Treasury: report

http://news.yahoo.com/s/nm/20080827/ts_nm/fdic_treasury_dc

An Era

First VW Beetle ever:
http://en.wikipedia.org/wiki/Image:Volkswagen_Type_1_black_1938.jpg

Last VW Beetle ever:
http://en.wikipedia.org/wiki/Image:Volkswagen_Bubbla_sista_bilen.jpg

Peak oil is not here (yet)

Yesterday I post that Peak oil is not here (yet) .
Check the Crude Oil Production - August Update for the discussion.

Misc articles

FDIC Increases Loss Estimate for IndyMac
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/376202882/fdic-increases-loss-estimate-for.html

The Gustav Menace, and Other Stories
http://redhotresources.blogspot.com/2008/08/i-exited-bullish-oil-position-in-red.html

China returns to net petrol exporter as stocks rise
http://www.guardian.co.uk/business/feedarticle/7752934
PetroChina will skip gasoline imports and may resume large exports in September due to high post-Olympics stockpiles, marking an end to China's brief fling as a net petrol buyer, traders said on Tuesday.

Cartoon

Stive Jobs speach @ Stanford

Must listen. Is not about Apple. Bulgarian subtitles available.

Readings

Problem bank list:

FDIC QBP: Earnings down, "problem" institutions up, charge-off rate at 17-year high and more
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/08/fdic-qbp-earnings-down-problem.html

Higher Levels of 'Troubled Banks' as Financial Earnings Plummet
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/new-levels-of-troubled-banks-as.html

FDIC Problem Bank List Increases
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/08/fdic-problem-bank-list-increases.html

U.S. Says Banks on `Problem List' Rose 30% in Quarter
http://www.bloomberg.com/apps/news?pid=20601087&sid=aOaSmPh0G3QU

Dollar and Gold:

Gold and US dollar to start rising together?
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/08/27/gold-and-us-dollar-to-start-rising-together/

Is Gold about to decouple from the € and rise with the $?
http://feeds.feedburner.com/~r/fso/~3/375631171/0826.html

Telegraph did it again...

Tada...

here comes Telegraph.co.uk :

Beijing swells dollar reserves through stealth
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/26/ccchina126.xml

First I decided not to read this crap. However, too much people got the article serious.

Article is indeed crap, however I found the comments very interesting,
half of the people think this is scam, other half that EUR/USD will go to 1.20,
small minority thinks this is normal situation and if there any effect it will be (very) short term.

Currently I am resending the article to several people to see what they think.

Readings

News You Can Use for Tuesday
http://redhotresources.blogspot.com/2008/08/news-you-can-use-for-tuesday_26.html

Gold/Silver Market Update
by Clive Maund
http://www.safehaven.com/article-11077.htm
...and...
http://www.safehaven.com/article-11076.htm

Charts Suggest Peak Dollar Occurred August 15, 2008
by Richard in Bellingham
http://www.safehaven.com/article-11078.htm
(Good but no idea why he think so)

Peak oil is not here (yet).

On Crude Oil Production - August Update,
we see May 2008 is the higher month in history.
I checked this with the blog author.
Before May 2008, was February 2008.

I am peak oil believer, but this clearly show peak oil is not here (yet).

Gold shorts - Wake-Up Call

Wake-Up Call
BY ROB KIRBY
http://www.financialsense.com/Market/wrapup.htm

Honestly I do not understand the article.

Readings

Abu Dhabi Bank Sues Morgan Stanley, Bank of NY and Ratings Agencies for Fraud
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/abu-dhabi-bank-sues-morgan-stanley-and.html

Is China's Growth Story Coming Unglued?
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/374926312/is-chinas-growth-story-coming-unglued.html
(must be seen)

Sean Brodrick
Dog Days Of Summer *AUDIO*
http://www.howestreet.com/index.php?pl=/goldradio/index.php/mediaplayer/939
(did not listen to it yet, but Sean's interviews usually are interesting)


Several cities and counties in USA declaring bankruptcy. I did not thought the problem is big, so I did not post any such messages last week. However messages like this comming every day, so I am beginning include them:

Jefferson County Alabama Considering Bankruptcy
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/374705045/jefferson-county-alabama-considering.html

U.S. Mint resumes gold coin orders on limited basis

They have gold after all...
http://www.reuters.com/article/ousiv/idUSN2539668920080825?rpc=401

Obama's Tax Plan

I am includng this video from bubblevison CNBC,
because even they do a parallel between Obama and US President Hoover.
Wall Str is scared, very scared.

http://cosmos.bcst.yahoo.com/up/player/popup/index.php?cl=9439567

Regional US Banks are Heavily Invested in Fannie and Freddie Preferreds

Regional US Banks are Heavily Invested in Fannie and Freddie Preferreds

from Jesse's Café Américain by Jesse

This may help to understand the Treasury's next moves.The banksters really do not want Fannie and Freddie to be bailed out and maintained in anything such as their current form. They want Fannie and Freddie's business, more precisely the fees from same. They also want the debt to be made whole.The big banks do not care so much about the preferred stock. In fact, they might even be in favor...

US Bank failures - statistical information

Official information is here:
http://www.fdic.gov/bank/individual/failed/banklist.html

---

Now breakdown by year:

Year        Failures
2000        2
2001        4
2002       12          <- dot com?
2003        3
2004        4
2005        0
2006        0
2007        3
2008        9          <- subprime

---

Peaks:

2002 - probably echo from dot com bubble?
2008 - subprime mess.

Note there are no bank failures in 2005 and 2006

---

Now chart:

Patrick Byrne from Overstock for naked shorts

Patrick Byrne and Don Harrold
Part 1. http://www.youtube.com/watch?v=EYuG-O0-WM0
Part 2. http://www.youtube.com/watch?v=peeufezp9ws

Valero Energy Signals More Stable Oil Sector

Valero Energy (NYSE: VLO) has quietly bottomed, suggesting that oil prices could stabilize at current levels or rally into the fall...
http://www.joe-duarte.com/saved_newsletters/2008_08/080825PR.html

Nobody seen it comming...

LA Times: FBI Saw Mortgage Fraud Threat in 2004
http://calculatedrisk.blogspot.com/2008/08/la-times-fbi-saw-mortgage-fraud-threat.html
...and...
http://www.latimes.com/business/la-fi-mortgagefraud25-2008aug25,0,6946937.story

Revolt Aurelian @ Agoracom

Aurelian Shareholder Speaks Out Against Kinross Bid
http://blog.agoracom.com/2008/08/25/guest-blog-aurelian-shareholder-speaks-out-against-kinross-bid/

However, I am on the other side, lets Kinross buy Aurelian cheap as possible :-)

Readings part II

SPX - Log & Linear views
http://biiwii.blogspot.com/2008/08/spx-log-linear-views.html

Gold Signals Gone Wild
by Chris Vermeulen
http://www.safehaven.com/article-11055.htm

Freddie's Loss is Gold's Gain
by John Lee
http://www.safehaven.com/article-11051.htm

Don Harrold Interview - Accent Radio Networks
1. http://youtube.com/?v=uAbdR2VQJu8
2. http://youtube.com/?v=V3cvhDylUxg
3. http://youtube.com/?v=b9jpWEAiyOA

Monday Charts on Gold, Oil & The Dollar -- and Plenty of News You Can Use

http://redhotresources.blogspot.com/2008/08/monday-charts-on-gold-oil-dollar-and.html

Weekend song again - Vladimir Visotskii

The Crash Course update

The Crash Course
http://www.chrismartenson.com/crashcourse

Updated/Added:
15. http://www.chrismartenson.com/bubbles
16. http://www.chrismartenson.com/fuzzy_numbers (Inflation and GDP)
17. http://www.chrismartenson.com/peak_oil

Readings part I

Inflation or Deflation? Part 1
from Commodity Watch Radio by commoditywatch
http://commoditywatch.podbean.com/2008/08/24/inflation-or-deflation-part-1/
...or MP3 direct...
http://commoditywatch.podbean.com/medias/feed/aHR0cDovL21lZGlhMS5wb2RiZWFuLmNvbS8yNTE2L3UvaW5mbGF0aW9ub3JkZWZsYXRpb25QdDEubXAz/inflationordeflationPt1.mp3

Bernanke speech makes investors happy
http://www.wallstrip.com/2008/08/22/bernanke-speech-makes-investors-happy/
(video)

Auto industry looking for a bailout, too
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/08/auto-industry-looking-for-bailout-too.html

China Expects Adequate Compensation for the Failure of Freddie and Fannie .... Or Else
http://jessescrossroadscafe.blogspot.com/2008/08/china-will-demand-adequate-compensation.html
(the most important news for the week)
...and same news from diff source...
China warns the US - 1st semi-official warning?
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/373657146/china-warns-us-1st-semi-official.html

US Dollar Weekly Charts With COT as of 19 August 2008
http://jessescrossroadscafe.blogspot.com/2008/08/us-dollar-weekly-charts-with-cot-as-of.html

Charts in the Babson Style for the Week Ending 22 August 2008
http://jessescrossroadscafe.blogspot.com/2008/08/charts-in-babson-style-for-week-ending_22.html

Bernanke's Strategy: Painting the Roses Red
http://jessescrossroadscafe.blogspot.com/2008/08/bernankes-strategy-painting-roses-red.html

The Auto Bail-Outs Are Starting
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/08/auto-bail-outs-are-starting.html
...and...
GM, Ford Seek Taxpayer Bailout
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/372878222/gm-ford-seek-taxpayer-bailout.html

US Mint stops selling Gold coins
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/372196788/us-mint-stops-selling-gold-coins.html

Lehman, Treasury, Fed Have Lost Control Of The Game
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/372083483/lehman-treasury-fed-have-lost-control.html

In Bulgarian:
Би Би Си пак стана главен враг на държавата. СЕМ ги забраниха
from e-vestnik.bg by e-vestnik.bg
http://e-vestnik.bg/4502
(BBC enemy No.1 again)

Какво още е необходимо да направим, за да ни изхвърлят от ЕС?
(What to do, so EU to kick us out of EU)
http://semkiibonbonki.blogspot.com/2008/08/blog-post_24.html
...and...
http://www.dnes.bg/article.php?cat=125&id=55626

Weekend song - Georgian Song

Chito Gvrito
The song is Georgian, on Georgian language, singer - Vakhtang Kikabidze is Georgian too. However the song is from the sountrack of the Russian movie - Mimino.

MD 82

Gold tech and Gold barometer update

Gold technicals:
Gold bounced becuase the support of the channel and / or end of 2008 low. See brown line.
However currently we are on resistance around $850 - last year high, but also April/May low.

An update of gold mania barometer:
Back when gold was ~$ 1000 , Kitco traffic measured by Alexa went to 0.075. Later when gold fell to $770 area Alexa show 0.045. Currently traffic climbs back, and currently is 0.07.

(See previous "Gold mania barometer" posts to understand what is it)

Oil market

Thursday Oil Market Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/08/thursday-oil-market-round-up_21.html

This article make me do some research. Sure Bonddad is right. I may add following:


Now the upper channel can be seen. Price is on the support.
Last 2 years, oil was there 4 times and I think line will hold.
There is a horizontal support @ 110 and one more @ 100.
The correction from $148 to $111 is 38.14% from move high from $85 to $148.

As the drop was so streight and violent, I can not estimate any upside target,
probably if oil begin to raise, it will raise to 148 at once, without any correction.

SPDR Gold Trust reports 1 pct outflow Aug. 19

Something fishy going on. GLD has 1% less "gold", while price of fisical dips more than 10-15%.
http://www.reuters.com/article/marketsNews/idINLK9831820080820?rpc=44

Movie about the airplane crash in Spain.

http://www.20minutos.tv/video/FuYzXitMef

in Spanish.

Readings

Cliff Diving: Fannie and Freddie
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/370267501/cliff-diving-fannie-and-freddie.html
FNM 4.47 -1.54 -25.62%
FRE 3.23 -0.94 -22.54%

Gold in Them Thar Hills
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/08/my-latest-moneyandmarkets.html
and
http://moneyandmarkets.com/Issues.aspx?Gold-in-the-Clouds-2108
(glass half full - a bullish picture)

Starbucks Corporation (SBUX)
http://www.wallstrip.com/2008/08/20/starbucks-corporation-sbux/

Banks' Subprime Market-Related Losses, Capital Raised: Table

Bloomberg provide nice table
http://www.bloomberg.com/apps/news?pid=20601206&sid=aSA5c5wow9mc&refer=realestate

Firm                                Writedown & Loss  Capital Raised
Citigroup Inc.*                             55.1          49.1
Merrill Lynch & Co.                         51.8          29.9
UBS AG                                      44.2          28.1
HSBC Holdings Plc                           27.4           3.9
Wachovia Corporation                        22.7          11.0
Bank of America Corp.                       21.2          20.7
IKB Deutsche Industriebank AG*              15.1          12.5
Washington Mutual Inc.                      14.8          12.1
Royal Bank of Scotland Group Plc            14.6          23.8
Morgan Stanley                              14.4           5.6
JPMorgan Chase & Co.*                       14.3           9.5
Deutsche Bank AG                            10.6           3.2
Credit Suisse Group AG                      10.4           2.7
Barclays Plc*                               10.1          18.3
Wells Fargo & Company                       10.0           4.0
Lehman Brothers Holdings Inc.                8.2          13.9
Credit Agricole S.A.                         7.9           8.7
Fortis                                       7.3           7.1
Bayerische Landesbank*                       7.1           0.0
HBOS Plc                                     7.0           7.4
ING Groep N.V.*                              6.8           4.7
Societe Generale                             6.7           9.6
Canadian Imperial Bank of Commerce*          6.3           2.8
Mizuho Financial Group Inc.                  5.9           0.0
National City Corp.                          5.4           8.9
Indymac Bancorp Inc                          4.9           0.0
Lloyds TSB Group Plc                         4.9           4.9
WestLB AG                                    4.7           7.4
Dresdner Bank AG                             4.0           0.0
BNP Paribas                                  3.9           0.0
Landesbank Baden-Wurttemberg                 3.8           0.0
Goldman Sachs Group Inc.                     3.8           0.6
E*TRADE Financial Corp.                      3.6           2.4
Nomura Holdings Inc.                         3.3           1.1
Natixis                                      3.2           6.6
Bear Stearns Companies Inc.                  3.2           0.0
HSH Nordbank AG                              2.7           1.9
Landesbank Sachsen AG                        2.6           0.0
UniCredit SpA                                2.5           0.0
Commerzbank AG                               2.3           0.0
ABN AMRO Holding NV                          2.3           0.0
Bank of China Ltd                            2.0           0.0
DZ Bank AG                                   2.0           0.0
Fifth Third Bancorp                          1.9           2.6
Bank Hapoalim B.M.                           1.7           2.4
Rabobank                                     1.6           0.0
Mitsubishi UFJ Financial Group               1.6           1.5
Royal Bank of Canada                         1.5           0.0
Marshall & Ilsley Corp.                      1.4           0.0
Alliance & Leicester Plc                     1.3           0.0
U.S. Bancorp                                 1.3           0.0
Dexia SA                                     1.2           0.0
KeyCorp                                      1.2           1.6
Groupe Caisse d'Epargne                      1.2           0.0
Hypo Real Estate Holding AG*                 1.2           0.0
Sovereign Bancorp Inc.                       1.0           1.9
Gulf International Bank                      1.0           1.0
Sumitomo Mitsui Financial Group              0.9           4.8
Sumitomo Trust and Banking Co.               0.7           1.0
DBS Group Holdings Limited                   0.2           1.1
Other European Banks*                        7.4           2.2
  (not listed above)
Other Asian Banks*                           5.5           7.8
  (not listed above)
Other US Banks                               2.9           1.9
  (not listed above)
Other Canadian Banks                         1.8           0.0
  (not listed above)
                                         ________      ________
TOTAL                                      503.8         352.5

Quite negative gold articles...

HUI - Current status
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/369928393/hui-current-status.html

A Warning from Richard Russell of the Dow Theory Letter
http://jessescrossroadscafe.blogspot.com/2008/08/warning-from-richard-russell-of-dow.html
(Sell GDX, SLV, XAU, HUI)

A Closer Look At Gold
http://bonddad.blogspot.com/2008/08/closer-look-at-gold.html
(do not agree with the analysis)

Paulson? What shall we do?

+-----+------------+-------+----------------+------------+
|     | Time       | Price | Change         | Volume     |
+-----+------------+-------+-------+--------+------------+
| FNM | 10:18AM ET | 5.03  | 0.98  | 16.31% | 40,718,613 |
| FRE | 10:18AM ET | 3.44  | 0.73  | 17.51% | 46,288,878 |
+-----+------------+-------+-------+--------+------------+

Why treasury bonds may soar

Back in 1995-1997, Bulgarian banking system were broken, and Bulgaria experienced very high inflation (~1000%+).

All banks gived huge interests on the BGL, and "normal" to "high" interests on USD and DEM.

One bank however, gived zero interest on DEM and USD, and they said - "with us your money are safe, you will receive no interest, but your money will be here when you needed".

I do not remember what this bank was and if they existing today.

Today we may see same parallel with US and US banking system:

1. US bank system is broken - fact.
2. US banks try to give customers all kind of "goodies" - For example WaMu give away "free account for live".
3. US deposits are insured up to 100,000.00 USD - fact.

Same time,

4. US inflation raise. Even official CPI is more than bond yield. This means
5. US bonds now give you ***NEGATIVE*** interest - fact. This could be change in future, but today it is proven fact.

in such situation who, except China, Arab countries and Russia may want to lose money?
However we do not see bond colapse. Nobody selling bonds. At least not at high rate.

The chart show clearly, that for last 5 years, the bonds are... flat. If we exclude the fall last mo, the volume is rising, but not that much.

I believe what is behind the raise in the bond is ... broken US banking system. People and busineses are scared to death. They do not trust their banks, and whoever have more than $100,000 already splitting them into different banks, 100,000 in each. However what you will do if you have $500,000 or $1,000,000 and you want or need to stay in cash? You can't really split betwen 10 banks.

You buy 3 mo treasury bonds. Is liquid, is safe, is ***FULLY*** insured and covered.

Buying bonds in this case is much safer than stocks or gold, because you do not know if stocks / gold will go up or down (may be stock will be down on the day you need the money).

So conclusion is people and busineses do not buy those bonds to earn interest. They don't care about the yield. They do that for safety reasons, because they do not trust the banks.

Bloomberg bonds page:
http://www.bloomberg.com/markets/rates/

Conspiracy!!! :-)

While Oil prices were lower, on CNN there was "HOT TOPIC" called "oil prices".
Now, when oil prices take off, the topic is removed.
Even if you click on "more topics" link, you still can not find anything oil related.

Current HOT TOPICS:

---

Hot Topics » Georgia Crisis • Olympics • Afghanistan • Pakistan • America votes • more topics »

---

Fannie, Freddie $223 Billion Debt Rollover Problem

Fannie, Freddie $223 Billion Debt Rollover Problem
http://globaleconomicanalysis.blogspot.com/2008/08/fannie-freddie-223-billion-debt.html

BAA and London airports

What is ... KRUGERRAND ?

THE KRUGERRAND EXPERIMENT
Good video from David Morgan
http://www.silver-investor.com/video/krugerrand_6-06/

Readings

Goldman Cuts Estimates on LEH, MER, JPM, MS
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/goldman-cuts-estimates-on-leh-mer-jpm.html

M3 Contraction - The Future Is Now
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/369220419/m3-contraction-future-is-now.html
referring the Telegraph article:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/08/19/cnusecon119.xml

PPI Comes in Hot ... But.....
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/08/ppi-comes-in-hot-but.html

Mortgage Crisis Translates Into School Budget Crisis
from Lawinfo Weblog by Lindsey
http://feeds.feedburner.com/~r/LawinfoWeblog/~3/369348124/

Don Harrold on Silver:
http://www.youtube.com/watch?v=08wVQ_3aiRo

Long live de-flation - Don Harrold funny video for Jim Crammer
http://www.youtube.com/watch?v=1uz-L67G49E

Gold and the Dollar: Putting the Relative Cart before the Relative Horse
http://www.theaureport.com/pub/na/1558

More anti-olimpic update :)

you guess it - Jon Stewart again :)

http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=179231

USD and HUI

Technical Update of the US Dollar and the AMEX Gold BUGS Index
by David Petch
http://www.safehaven.com/article-11022.htm

Includes lot of charts. I love charts.

Former IMF Economist Sees Big Bank Going Under

http://bonddad.blogspot.com/2008/08/former-imf-economist-sees-big-bank.html

This came from several sources, all linking to Bloomberg and Reuters here:
http://www.reuters.com/article/ousiv/idUSSP21695020080819

FNM is 52 week low - $5.86.

Bloomberg reported FREddie is up, but I see now they are quite underwater too -
FRE is $4.18 and 52 week low is almost there $3.95.

The crisis is once again here -
Paulson? Should we do something to bail them out?

Gold's Correcting, Not Collapsing

Lots of charts...
http://www.safehaven.com/article-11015.htm

Safehaven weekend readings...

DZZ Gold ETN - How to Short Gold by Going Long
by Chris Vermeulen
http://www.safehaven.com/article-11013.htm
(another useful ETF)

The Strong Dollar Illusion
by Peter Schiff
http://www.safehaven.com/article-10994.htm
(will not read it ;) )

Epic Gold-Stock Buying Op
by Adam Hamilton
http://www.safehaven.com/article-10996.htm

Honest Money Gold and Silver Report
by Douglas V. Gnazzo
http://www.safehaven.com/article-11003.htm

How Low Will Gold Go?
by Alex Wallenwein (goldmoney)
http://www.safehaven.com/article-11010.htm

The Dollar Has Been Allowed To Appreciate
by Chris Ciovacco
http://www.safehaven.com/article-11012.htm

Jon Stewart - Russia/Georgia War

Update 19.AUG:

The anti-olimpic update was removed from youtube, but is available here:

http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=179206

Readings...

Gold, Silver and the Great Unwind
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/366614018/gold-silver-and-great-unwind.html

US Banks reserves and borrowings update
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/366347485/us-banks-reserves-and-borrowings-update.html

Still no inventory reduction at the GLD ETF
http://themessthatgreenspanmade.blogspot.com/2008/08/still-no-inventory-reduction-at-gld-etf.html

The Financial Sector Is Still In Deep Trouble
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/08/financial-sector-is-still-in-deep.html

Gold Digg
http://adamsoptions.blogspot.com/2008/08/gold-digg.html

Jesse articles:

The Case for the Gold Bull Market
http://jessescrossroadscafe.blogspot.com/2008/08/case-for-gold-bull-market.html

US Dollar Weekly Charts
http://jessescrossroadscafe.blogspot.com/2008/08/us-dollar-weekly-charts.html

Charts in the Babson Style for the Week Ending 15 August 2008
http://jessescrossroadscafe.blogspot.com/2008/08/charts-in-babson-style-for-week-ending_15.html

Four Scenarios for the US Dollar and Equity Rallies
http://jessescrossroadscafe.blogspot.com/2008/08/three-scenarios-for-us-dollar-and.html

Overstock CEO On Short Selling

Overstock CEO On Short Selling

Silver from KITCO

IMPORTANT NEW NOTICE: Due to market volatility and higher demand in the entire industry, we are anticipating delays in supply of all bullion products. Please note that you can continue to place orders and prices will be guaranteed; however, cancellation fees will still be applicable regardless of the length of the delay. Consequently once inventory is received there may also be delays in processing and shipping by our vaults.

---

(Full) Complete silver product list:
1. Kitco Anniversary Silver Coin - limited edition
2. Silver Philharmonic 1 oz
3. Silver Maple 1 oz
4. Silver Bar 1000 oz
5. Silver Bar 100 oz

Reality Lenses: Sucker rally in the USD

Reality Lenses: Sucker rally in the USD

Readings

Gold @ 780

U.S. mint suspends gold coin sales; futures price is a fiction
http://www.gata.org/node/6489

News Alert: US Mint Suspends Sales Of Gold American Eagles
http://apmexdealer.blogspot.com/2008/08/news-alert-us-mint-suspends-sales-of.html

Implications of the Slowing Global Economy
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/365211385/implications-of-slowing-global-economy.html

More market rally
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/365113764/more-market-rally.html

Buy Silver and Gold, The dollar doesn’t matter!
by Jim Otis
http://www.financialsense.com/fsu/editorials/optimist/2008/0814.html

Credit Crunch is still ahead
from The Yellow Brick Road by Andy Bebut
http://yellowroad.wallstreetexaminer.com/blogs/2008/08/14/credit-crunch-is-still-ahead/
(audio 9 MB)
http://media.bloomberg.com/bb/avfile/Economics/On_Economy/vJKfns7Wea04.mp3

Gold and the Out of Whack Economy
by The Mogambo Guru
http://www.safehaven.com/article-10990.htm

The Bonddad Blog: Thursday Oil Market Round-Up

Thursday Oil Market Round-Up

Matt Simmons interview

Energy Crisis, A Discussion with Matt Simmons
Jun 25, 2008 Amidst skyrocketing oil prices, considerable financial activity in the oil market, and increased gas prices, producing and consuming n...

Readings

1,300 Foreclosures Per Day in California
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/364107839/1300-foreclosures-per-day-in-california.html

U.S. Miles Driven Declines 4.7% from June 2007
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/364065962/us-miles-driven-declines-47-from-june.html

Boone Pickens Loses Big On Oil, Natural Gas Bets: Wind-Farm Ads Worked Too Well
http://www.clusterstock.com/2008/8/boone-pickens-loses-big-on-oil-natural-gas-bets-wind-farm-ads-worked-too-well
(similar to what I published yesterday)

The Dollar Breaks Out, So Buy Gold
by Guy Lerner
http://www.safehaven.com/article-10985.htm
(the case for both USD and Gold going higer)

Short selling

Dear clients,

As from today, the CFDs of the following securities are available for short sales: JPM (JPMORGAN CHASE & CO), BAC (BANK OF AMERICA CORP), C (CITIGROUP INC), LEH (LEHMAN BROTHERS HOLDINGS INC), MER (MERRILL LYNCH & CO INC), MS (MORGAN STANLEY), FRE (FREDDIE MAC), FNM (FANNIE MAE).

Deltastock Team wishes you successful trading hours through our platforms!

It ain't over 'til the fat lady sings

http://www.nypost.com/seven/08132008/business/oils_slim_pickens_124275.htm

My current result is -20%. This is way better than T. Boon Pickens :)

However only end result is important.

Readings

About Russia with Love (in Bulgarian)
http://kaka-cuuka.com/412
(Article name changed - point taken :-) )

Gold & Silver – The August Lows Are Upon Us!
http://www.theaureport.com/cs/user/print/na/1541?utm_source=streamsend&utm_medium=email&utm_content=1131921&utm_campaign=The%20Gold%20Report%20%7C%20Semi-Weekly%20Update%20%20%7C%20August%2012%2C%202008

Cost-Cutting in New York, but a Boom in India
http://www.nytimes.com/2008/08/12/business/worldbusiness/12indiawall.html?_r=2&em&oref=slogin&oref=slogin

OPEC May Consider Supply Cut as Oil Stockpiles Rise, Iran Says
Oil prices are falling because of an oversupply of crude, and OPEC may consider cutting production at its September meeting to achieve a supply-demand balance while maintaining sufficient excess capacity, Iran's OPEC governor said.
http://www.bloomberg.com/apps/news?pid=20601072&sid=abOZ.RwF9uqY&refer=energy

Net Oil Exports - August 2008 Update
http://netoilexports.blogspot.com/2008/08/net-oil-exports-august-2008-update.html

JPMorgan shares tumble on widening 3Q losses
JPMorgan shares fall after bank reports widening losses related to mortgage debt in 3rd qtr
NEW YORK (AP) -- Shares of JPMorgan Chase & Co. tumbled Tuesday after the bank said it has heaped more losses in its mortgage investments so far in the third quarter than it did in the previous three-month period.
In a filing with the Securities and Exchange Commission late Monday, the bank said turbulence in the credit markets has caused it to lose about $1.5 billion, after hedges, in its mortgage-backed securities and loans to date in the July-to-September quarter.
That's more than the $1.1 billion in losses JPMorgan incurred in its investment bank's portfolio during the second quarter.
The news set off fresh concerns about the scope of the troubles in the credit markets and the overall health of the financial sector.

Dallas Fed's Fisher says current crunch worse than S&L crisis
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/08/dallas-feds-fisher-says-current-crunch.html
Finally someone spoke about S&L

Mars Bars revisited
By Nico Colchester
Back in December 16, 1983
http://specials.ft.com/nicocolchester/FT3XZDJSEIC.html
Very interesting article for Mars Chocolate Bars in UK

Half a Trillion Dollars Later
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/08/half-trillion-dollars-later.html

Wednesday Commodities Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/08/wednesday-commodities-round-up.html
CRB

And even more readings

June Trade Deficit: $56.8 billion
http://calculatedrisk.blogspot.com/2008/08/june-trade-deficit-568-billion.html

Bear Comparison: Today's Junior Resource Sector vs 2001's Nasdaq
by John Lee
http://www.safehaven.com/article-10973.htm

Some Signs that Gold Is Trying to Bottom
by Michael Swanson
http://www.safehaven.com/article-10972.htm

Airline sector news

United (Airlines) Pilots Call for CEO to Resign
http://cosmos.bcst.yahoo.com/up/finance?ch=4043681&cl=9244105&lang=

Post No.1000

That for PBR was post No.1000 in the blog.
:)

Petro Brasiliero - PBR

Petrobras profit raise 29%.
However the shares are only 1% up. - Oil up about 1% too.
Welcome to the new world...

Consumption society :-)

Alexander at the only Burger King in Bulgaria

Gold Bull 70's vs. Today

http://www.financialsense.com/editorials/king/2004/0729.html
Interesting article, but I understand their point. Too much charts :o)

More loses

JPMorgan Loses $1.5 Billion Since July
http://feeds.feedburner.com/~r/RealityLenses/~3/362773415/jpmorgan-loses-15-billion-since-july.html

UBS reports further writedowns of $5.1bn related to risky credit-related investments.
http://feeds.feedburner.com/~r/RealityLenses/~3/362773416/ubs-reports-further-writedowns-of-51bn.html

Readings...

Hank Paulson Lies
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/08/hank-paulson-lies.html
(continuation of video interview)

Long Term Gold and US Dollar Charts
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/long-term-gold-and-us-dollar-charts.html

The US$ and the Gold Sector
by Steve Saville
http://www.safehaven.com/article-10969.htm

How unusual is a "bear market" for oil?
http://themessthatgreenspanmade.blogspot.com/2008/08/how-unusual-is-bear-market-for-oil.html

Which way next for short-term rates?
http://themessthatgreenspanmade.blogspot.com/2008/08/which-way-next-for-short-term-rates.html
(will go lower to 1%)

Currency Intervention And Other Conspiracies

http://globaleconomicanalysis.blogspot.com/2008/08/currency-intervention-and-other.html
Very nice article from Mish, a retrospection of many articles trying to explain the USD rally last week. A must read.

EUR/USD - quick chart

EUR/USD - daily chart. We are on important support - ~1.50. It is also importan psychological level. Next supports @ 1.47, 1.45

Readings from the weekend - final

These are final readings/links from the weekend and today :-)

---

Two Charts for Monday
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/08/im-back-from-my-trip-to-colorado.html

UPDATE: U.S. Dollar Index
by Patrice Johnson
http://www.safehaven.com/article-10964.htm

Who is Really Printing Money?
by Boris Sobolev
http://www.safehaven.com/article-10960.htm
(unclear article)

Gold / Silver Market Update
by Clive Maund
http://www.safehaven.com/article-10955.htm
...and...
http://www.safehaven.com/article-10954.htm

For our American friends

The "X" List: The Next Big Failures
video with Martin Weiss, Ph.D. and Mike Larson

e.g. Is my bank safe

http://moneyandmarkets.stream57.com/August6/Default.aspx

Readings...

Marc Faber - Bullish On The US$, Bearish On Commodities
http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vuf.8Ud9HSYA.asf
(video, Marc Faber turn 180')

U.S. Dollar Rally Continues
http://globaleconomicanalysis.blogspot.com/2008/08/us-dollar-rally-continues.html
(USD, XAU)

Margin Calls At General Growth Properties
http://globaleconomicanalysis.blogspot.com/2008/08/margin-calls-at-general-growth.html

US Dollar Weekly Charts with Commitments of Traders as of 5 August 2008
http://jessescrossroadscafe.blogspot.com/2008/08/us-dollar-weekly-charts-with.html

Crazy Eights - Charts in the Babson Style for Week Ending 8.8.08
http://jessescrossroadscafe.blogspot.com/2008/08/crazy-eights-charts-in-babson-style-for.html

The Fog of War Descends on the Oil Rich Caucasus
http://jessescrossroadscafe.blogspot.com/2008/08/is-georgia-to-be-our-serbia-or-spain-or.html

UK: House Repossessions Hit 12-year-high
http://calculatedrisk.blogspot.com/2008/08/uk-house-repossessions-hit-12-year-high.html

Paulson Interview: No Plans to Insert Money in Fannie and Freddie
http://calculatedrisk.blogspot.com/2008/08/paulson-interview-no-plans-to-insert.html

Readings from the weekend

Thoughts on the dollar and commodities
http://interestrateroundup.blogspot.com/2008/08/thoughts-on-dollar-and-commodities.html

How to Calculate Your Own Gold Price Projection
by Jeff Clark
http://www.safehaven.com/article-10945.htm
my price is $1800, but I am in BG

Gold Bull Seasonals 3
by Adam Hamilton
http://www.safehaven.com/article-10942.htm

What Made the Gold Price Drop Through $900?
by Julian D. W. Phillips
http://www.safehaven.com/article-10941.htm

End of an Era?
by Puru Saxena
http://www.safehaven.com/article-10936.htm

The Bonddad Blog: Why is the Dollar Rallying?

The Bonddad Blog: Why is the Dollar Rallying?
New ECB policy?

Don Coxe Commentary

July 13th Commodity Massacre, courtesy of Hank and Ben
http://events.onlinebroadcasting.com/bmo_fastcast/080808/frameset.php

Commodities still well shy of the 2006 correction

http://themessthatgreenspanmade.blogspot.com/2008/08/commodities-still-well-shy-of-2006.html
Based on the CRB Index shown above, the May to October move down in 2006 - from 366 to 293 - works out to a 19.9 percent decline.

---

Same calc for gold:
730 - 542 = 188 = 25.7 %
1033 - 846 = 187 = 18.1 %

---

Same calc for Oil, but with different dates of the peaks.
80 - 51 = 29 = 36.25 %
147 - 116 = 31 = 21.08 %

What the Fed wants

What the Fed wants ... and what the Fed is getting
by Mike Larson 08-08-08
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2063

1% interest rates?

No matter what the reason of latest USD raise is, the FED now have plenty of room to cut.

Some people believe FED is out of bullets. No, FED still have 7 bulets left. Think - 2.00% rates, 0.25% increment - it makes 7 cuts until rates reach 0.25. I do not think FED will cut to 0.25, nor to 0.50 as Sir Greenspan did, but what about 1.00% ?

Why not. Is no longer impossible. USD is up, Gold is down, Oil is down.
At least kind of down :-)

Mystery Solved

Mystery Solved by James Turk,

On July 15th the US Dollar Index closed at 71.87, the lowest close since reaching its record low in April. This index was in the process of breaking down, and in fact it had actually fallen out of its uptrend channel on the following chart.

However, rather than continue lower and fall off the edge of the cliff, the Dollar Index suddenly and mysteriously reversed course. It has now risen on 12 of the 17 trading days since reaching that low, and closed today at 74.55, a 5-month high. What caused this index to suddenly pull back from the brink and then reverse course to shoot higher over the past three weeks?

The Federal Reserve did not suddenly contract the amount of dollars in circulation. Its latest H.6 report shows that both M1 and M2 expanded in recent weeks, so there was no shortage of supply.

The Federal Reserve did not raise interest rates during this period. Consequently, inflation adjusted interest rates remain negative. In other words, the annual inflation rate is higher than the amount of interest one can earn on a 1-year dollar deposit, which is highly inflationary and a major disincentive to holding dollars.

There has not been any news exceptionally favorable to the dollar. In fact, the banking problems in the United States continue to mount, while the federal government's deficit continues to soar out of control. On July 28th Reuters reported that "The Bush administration on Monday plans to project the U.S. budget deficit will soar to a new record...because of the slowing economy and an economic stimulus plan approved this year."

So what happened to cause the dollar to rally over the past three weeks? In a word, intervention. Central banks have propped up the dollar, and here's the proof.

When central banks intervene in the currency markets, they exchange their currency for dollars. Central banks then use the dollars they acquire to buy US government debt instruments so that they can earn interest on their money. The debt instruments central banks acquire are held in custody for them at the Federal Reserve, which reports this amount weekly.

On July 16, 2008 (the closest date of the weekly reports to the July 15th low in the Dollar Index), the Federal Reserve reported holding $2,349 million of US government paper in custody for central banks. In its report released today, this amount had grown over the past three weeks to $2,401 million, a 38.4% annual rate of growth. To put this phenomenally high growth rate into perspective, for the twelve months ending this past July 16th, assets in the Federal Reserve's custody account grew by 17.3%, which is less than one-half the growth rate experienced over the past three weeks.

So central banks were accumulating dollars over the past three weeks at a rate far above what one would expect as a result of the US trade deficit. The logical conclusion is that they were intervening in currency markets. They were buying dollars for the purpose of propping it up, to keep the dollar from falling off the edge of the cliff.

With this intervention, central banks have bought some time. But alas, they have not fixed the problem. Central bank intervention does not make the dollar "as good as gold", the description that once accurately described the dollar.

In the final analysis, it is fundamental factors that determine the course of markets and the process of price discovery that results from them. Central bank intervention - like fiat currency itself - is ephemeral. In contrast, gold lasts throughout the ages. So what would you rather own? A sick dollar that it requires central bank intervention to prop it up? Or gold?

Published by GoldMoney
Copyright © 2008. All rights reserved.
Edited by James Turk, alert@goldmoney.com

Pending home sales: Thats a surprice

June pending home sales jump 5.3% (minus 1% expected)

Natural Gas

Natural Gas
from Daily Options Report by Adam
http://adamsoptions.blogspot.com/2008/08/au-natural-gas.html

it's a true mystery why natural gas felt so much.

Oil and Gold and Paris Hilton, Oh My!

http://redhotresources.blogspot.com/2008/08/oil-and-gold-and-paris-hilton-oh-my.html

Note following paragraph:
But the fact that an important Turkish pipeline can blow up and oil DOESN’T jump $10 a barrel shows, I think, that the overall mood in the oil markets remains short-term bearish.

I am long oil, but agree completly.

The case against gold

The Mess That Greenspan Made: The case against gold
Read comments too...

Readings...

Gold’s Bull Remains Intact in All Major Currencies
http://news.goldseek.com/GoldSeek/1218030540.php

The Fed's Next Move is Down
by John Browne (EuroPac)
http://www.safehaven.com/article-10925.htm
Strange viewpoint - FED needs to lower the rates.
Honestly I think same thing.

Special Got Gold Report - August Silver Swoon Again
By Gene Arensberg
http://www.resourceinvestor.com/pebble.asp?relid=45097

AIG:$5.36 Billion Loss
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/357826912/aig536-billion-loss.html

Least Helpful Call of the Week
from Jeff Matthews Is Not Making This Up by Jeff Matthews
http://jeffmatthewsisnotmakingthisup.blogspot.com/2008/08/least-helpful-call-of-week.html
(AIG again)

Charts in the Babson Style for MIdweek 6 August 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/charts-in-babson-style-for-midweek-6.html

Fannie, Freddie Reality Check: The Big Bailout Is Coming
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/357975115/fannie-freddie-reality-check-big.html

Tupi Update
http://netoilexports.blogspot.com/2008/08/tupi-update.html

Crude Oil Production - August Update
http://netoilexports.blogspot.com/2008/08/test-table-smaller-font.html

• May 2008 is current the record for Crude and Condensate production.
• May 2005 is the previous high.
• August 2007 is the month with the lowest production in the interim.
• The final three columns show the changes in production between the previous month(April), those two months, and the most recent month (May).

New Buzzword for Commodities "Demand Destruction"
by Gary Dorsch
http://www.financialsense.com/fsu/editorials/dorsch/2008/0806.html
...or...
http://www.safehaven.com/article-10926.htm

Baby Boomers We Have A Problem
by Dudley Baker
http://www.financialsense.com/fsu/editorials/baker/2008/0806.html
(did not read it)

ECB rates steady.

ECB rates unchanged.

Subprime video from FT

http://www.ft.com/cms/bfba2c48-5588-11dc-b971-0000779fd2ac.html?_i_referralObject=813989397&fromSearch=n

FOMC

FED kept rates unchanged - what else they should do? :-)

EUR/USD - unchanged.
Gold, Oil, Stocks - unchanged.

Readings...

Ghost Towns Across America - No Signs Of Bottom
by Mish
http://globaleconomicanalysis.blogspot.com/2008/08/ghost-towns-across-america-no-signs-of.html

Video linsk from the article:
http://link.brightcove.com/services/player/bcpid1078591414?bctid=1699141649
http://link.brightcove.com/services/player/bcpid452319854?bctid=1705272267

US Dollar With Commitments of Traders as of 29 July 2008
by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/us-dollar-with-commitments-of-traders.html

A Review of the Gold Bull - 2 August 2008
by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/review-of-gold-bull-2-august-2008.html

Monday Is Chart Day -- Storms, Oil, Oil & More
by Sean Brodrick
http://redhotresources.blogspot.com/2008/08/monday-is-chart-day-storms-oil-oil-more.html

U.S. Natural Gas (AMEX: UNG) Fund Finds Support
by Joe Duarte
http://www.joe-duarte.com/saved_newsletters/2008_08/080804PR.html

Honest Money Gold and Silver Report: Market Wrap
by Doug Gnazzo
http://www.safehaven.com/article-10901.htm

The War for Oil
by Marin Katusa (Casey Research)
http://www.safehaven.com/article-10889.htm

Readings + SEO :)

GM: $15.5 Billion Loss
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/352604132/gm-155-billion-loss.html

From the WSJ: GM Swings to $15.5 Billion Loss Amid Write-Downs, Sales Slump General Motors Corp. recorded a stunning $15.5 billion second-quarter net loss, slammed by sinking auto sales, money lost on bad lease deals and costs tied to its North American restructuring.

First, the downgrade -- Then the awful earnings
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/08/first-downgrade-then-awful-earnings.html
(GM again)

A Theory of Great Depressions and a Confession from a London Banker
from Jesse's Café Américain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/08/theory-of-great-depressions-and.html
(Publishing because of very interesting chart there)

[will post more later]

Last mo...

Hmmm,
July was the mo with most postings ever - 110
This is more than last September :-)

Readings...

Meredith, Can Lehman Survive This?
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/352183079/meredith-can-lehman-survive-this.html
Thats funny :)

Schwarzenegger Cuts Wages of 200,000 Workers
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/351949180/schwarzenegger-cuts-wages-of-200000.html

Silver and Monetary Considerations
by David Morgan
http://www.safehaven.com/article-10879.htm
(Hyperinflation in Weimar Germany)