2008-10-29

Minefinders up.

Nice bounce today, high was 5.50 I believe.

A friend bring to my attention than ... Minefinders Gold's Valued at $47.2/oz - can you believe it? They are doing $700/oz at current gold prices (based on gold $747.20/oz)
My blog is up to date now :)

Readings (new one)

Fed cuts the funds rate by 50 bps to 1%
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/fed-cuts-funds-rate-by-50-bps-to-1.html
In case you want to see the statement.

Pssssst - Here's a Tip for You
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/pssssst-heres-tip-for-you.html

Countrywide Holds Record Inventory of Foreclosures for Sale
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/countrywide-holds-record-inventory-of.html
19,618 Homes Offered For Sale on Countrywide Financial's Website
Total REO Asking Price: $3,308,329,521
(As of October 17, 2008)

Important Support Level on the Monthly Gold Chart
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/significant-support-on-monthly-gold.html
Fork technical analysis ;)

White House: "Banks Need To Stop Hoarding Money"
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/435073583/white-house-banks-need-to-stop-hoarding.html

The Detroit Death March Continues
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/detroit-death-march-continues.html

The new Pickens Plan is cash
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/new-pickens-plan-is-cash.html

The Fed Starts Buying Commercial Paper
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/435076814/fed-starts-buying-commercial-paper.html

WSJ: GM may get $5 Billion Government loan
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/434030670/wsj-gm-may-get-5-billion-loan.html


EU:
Iceland vs. USA Economic Analysis
from FedUp! by Doug Eberhardt
http://youcanmakeadifference.org/fedup/archives/31

IMF to Bail Out Ukraine
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/432775974/imf-to-bail-out-ukraine.html
As long as I know Bulgaria will get some money too.

Cliff Diving: Volvo truck sales plunge 99.7%
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/432012532/cliff-diving-volvo-truck-sales-plunge.html

BofE Report: Britian Banks May Need More Capital
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/434149320/bofe-report-britian-banks-may-need-more.html

We interrupt this program to bring you... 1% interest

This time I agree with Uncle Ben. Dollar is strong, and cutting rates is good.
I also agree to the half point cut, they will have powder for next cut ;)

For the moment the Market shows no big raise, but no big decline - thats good news.

However, this more and more looks like Greenspan era - I never thought we will have under 1.75% rates soon.

From Yahoo Finance:
Fed Cuts Key Interest Rate Half-point to 1 Percent

Readings... from the weekend

This week I am too busy...
Here you are the readings from the weekend and Monday :)

However, if you check the blog regulary, read the readings, because there are some important stuff there....



Fannie, Freddie debt costs up; Mortgage rates rising
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/fannie-freddie-debt-costs-up-mortgage.html

Existing home sales rise 5.5% in September, prices fall to lowest since early 2004
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/existing-home-sales-rise-55-in.html

Just when you thought it couldn't get any worse ...
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/just-when-you-thought-it-couldnt-get.html

Charts in the Babson Style for the Week Ending 24 October 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-in-babson-style-for-week-ending_24.html

IMF may need to "print money" as crisis spreads
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3269669/IMF-may-need-to-print-money-as-crisis-spreads.html
SDR "printing"

Equity trading losses at Deutsche Bank, Citigroup, Credit Suisse
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/434243059/equity-trading-losses-at-deutsche-bank.html

Economic Crisis Around The Globe Continues
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/432957835/economic-crisis-around-globe-continues.html

GE Needs Fed Bailout To Finance Operations; Dividend At Risk
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/431959207/ge-needs-fed-bailout-to-finance.html

Australian Funds Block Withdrawals
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/430897184/australian-funds-block-withdrawals.html

Net Oil Exports - October 2008 Update
from Net Oil Exports by admin
http://netoilexports.blogspot.com/2008/10/net-oil-exports-october-2008-update.html

Another Month, Another Billion Dollars For T. Boone Pickens
from Net Oil Exports by admin
http://netoilexports.blogspot.com/2008/10/another-month-another-billion-dollars.html
T. Boone Estimates He's Down $2B From Drop in Oil, Gas Prices

Run on gold in Dubai as investors shun stocks and property
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/28/dubai-gold-souk-empty-as-investors-shun-stocks-and-property/

Gold stocks ready for a major rally
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/27/gold-stocks-ready-for-a-major-rally/

When will the US dollar rally end?
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/26/when-will-the-us-dollar-rally-end/
Marc Faber

Gold update - 20081026
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/433048981/gold-update-20081026.html
...first read this:
http://www.financialpost.com/story.html?id=906125

An E-Mail from a Worker at the Northwest Territorial Mint
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/e-mail-from-northwest-territorial-mint.html

Forex Friday
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/forex-friday_24.html
USD

The Moral Case for Tax Havens
http://www.youtube.com/watch?v=Xf14lkyH2dM

Oil to $50 ... or $150?
by Sean Brodrick
http://www.moneyandmarkets.com/oil-to-50-or-150-27801

2008-10-24

Spreads

Dear Clients,

Please, be informed that as of today, October 24, 2008, due to high market volatility and low liquidity the spreads of the currency pairs will be as follows:

EUR/RON from 50 pips to 400 pips
USD/RON from 40 pips to 400 pips
USD/RUB from 100 pips to 1000 pips
USD/ZAR from 150 pips to 450 pips

We wish you successful trading!

Deltastock Dealing Department

Readings

Oil below $65 despite OPEC decision to cut 1.5 million barrels a day amid slumping demand
http://biz.yahoo.com/ap/081024/oil_prices.html

BNN article on commodities
http://watch.bnn.ca/#clip104603
Canadian oil sands, Gold, Platinum, Platinum Group Metals (the company)

Roubini Sees Crisis Worsening
http://www.bloomberg.com/avp/avp.htm?N=av&T=Roubini%20Sees%20Crisis%20Worsening%2C%20Hurting%20Emerging%20Markets&clipSRC=mms://media2.bloomberg.com/cache/vcYqArJFMJgA.asf
...audio link directly...
mms://media2.bloomberg.com/cache/vcYqArJFMJgA.asf
Very interesting video intervies

Sentiment bearish (bullish)
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/429573378/sentiment-bearish-bullish.html
Gold, Oil, USD

S&P 500 Crash Count Compared To Nikkei Index
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/429772044/s-500-crash-count-compared-to-nikkei.html

Links by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/its-been-heck-of-day.html
Oil, Gold

Thursday Oil Market Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/thursday-oil-market-round-up_23.html

A Dollar Down Moves You In
from The Great Depression of 2006 by Jim in San Marcos
http://greatdepression2006.blogspot.com/2008/10/dollar-down-moves-you-in.html
buy CA house for $1

Greenspan Concedes to 'Flaw' in His Market Ideology
http://www.bloomberg.com/apps/news?pid=20601087&refer=&sid=ah5qh9Up4rIg
ahaaaaaaaaa :-)

Dollar Sentiment Approaches Resistance
from Trend and Value Report by Lucas Elam
http://feeds.feedburner.com/~r/trendandvalue/~3/430104563/dollar-sentiment-approaches-resistance.html

GM and Chrysler plan layoffs... again
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/23/gm-and-chrysler-plan-layoffsagain/

EU:

Russian default risk tops Iceland as crisis deepens
http://www.telegraph.co.uk/news/worldnews/europe/russia/3248672/Russian-default-risk-tops-Iceland-as-crisis-deepens-financial-crisis.html

In Bulgarian:

"Газпром" моли ОПЕК да вдигне цената на петрола
http://pazari.dnevnik.bg/show/561128/

2008-10-23

Readings

Thanks For Being With Us
from ANTI-SOPITALIST by boris
http://borisc.blogspot.com/2008/10/thanks-for-being-with-us_22.html
Interesting post from Boris...

Roubini on CNBC
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/428721825/roubini-on-cnbc.html
Several videos...

Long Term Gold Chart and a New Set of Hedged Positions
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/long-term-gold-chart.html

Asian Stocks Drop To 4-Year Low
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/429386740/asian-stocks-drop-to-4-year-low.html

US Dollar, Yen, Treasuries Soar In Risk Aversion Moves
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/428881482/us-dollar-yen-treasuries-soar-in-risk.html
Currencies

Will Warren Buffett buy gold and silver stocks?
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/22/will-warren-buffett-buy-gold-and-silver-stocks/

Quick update on gold prices
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/429051908/quick-update-on-gold-prices.html

We're Nowhere Near A Bottom in Housing
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/were-nowhere-near-bottom-in-housing_22.html

One dollar per tonne at the Gold ETF
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/one-dollar-per-tonne-at-gold-etf.html
GLD tonnage

A reason not to invest in pensions?
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/428722627/reason-not-to-invest-in-pensions.html
Cry to me Argentina :)

2008-10-22

Stockexchange swap trade

Sold all GLD. I have no GLD now.
Bought KGC for the money from GLD.

Have little cach left, will deploy it in MFN tomorrow, but only if they fall to $4.20-4.30 area.

Explanation is that gold went only 6.5 % down, but KGC - 11.5%,
hopefully KGC will be 10 % up tomorrow, and gold only 5%, which will allow me to swap back. Note this is NOT a speculation, because I like KGC as much as I like GLD, so I don't mind to keep it as well.

We will see what future will show...

Minefinders again

2008-10-16 - Panel under leach @ Dolores :-)

IMPORTANT things...

Finally Minefinders Commences Leaching -
http://biz.yahoo.com/iw/081022/0445444.html , at the same time stock price plummed to $4.50... If this is not buying opportunity, I don't know what is it.

Gold testing support now - ~$750, everything but dollar is down. US Bond (TLT) is up.

HUI is under 200.

CRB crashed:
http://bonddad.blogspot.com/2008/10/wednesday-commodities-round-up_22.html

Hungarian currency - Forint is crashed:

Forint follies ... Argentine angst ... and more on mortgages
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/forint-follies-argentine-angst-and-more.html

Detail "Hungarian" article:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aLrRRiiGyro4&refer=home

Helpful charts - Forint to EUR and Forint to USD.
http://finance.yahoo.com/q/bc?t=3m&s=EURHUF%3DX&l=on&z=m&q=l&c=USDHUF%3DX


Friend wrote:

It appears that the major government mints have conspired to prevent their citizens from obtaining gold and silver coins, despite unprecedented high demand for such. Thus at a time of financial turmoil, when the public normally turns to gold and silver as a safe haven, governments have prevented them from doing so this time. So, if one hasn't already stocked up on bullion, you aren't going to be able to do so now, except at very high prices, if you can get anyone to sell you any from their own supply.

Thus we have de facto confiscation, only the government doesn't have to call it so. They don't have to seize people's assets because not that many people have any to seize. They simply prevent the majority of people who want gold and silver from getting any. In other words, for most people, the government has "confiscated" their gold and silver by not letting them buy any. Very clever. At the same time, they're stomping on the price of gold and silver (in the U.S., anyway) to tamp down even the demand for it. The whole thing gives new meaning to "Don't Fight the Fed!" Very discouraging for those of us who have prepared otherwise. But I suppose the game isn't over yet, so we'll see how it turns out.

Silver lower? Think again

Yes, We Have No Silver
by Sean Brodrick 10-22-08
http://www.moneyandmarkets.com/yes-we-have-no-silver-2-27680

Readings

US Dollar
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/427420980/us-dollar.html

Acute panic phase easing?
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/427760388/acute-panic-phase-easing.html

San Diego home prices are "off the chart"
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/san-diego-home-prices-are-off-chart.html

World:

Argentina seizes pension funds to pay debts. Who's next?
http://blogs.telegraph.co.uk/ambrose_evans-pritchard/blog/2008/10/21/argentina_seizes_pension_funds_to_pay_debts_whos_next

Argentina Default Looms, Pension Fund Seized
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/428330435/argentina-default-looms-pension-fund.html

in Bulgarian:

Лесни “решения”
from Блогът за икономика by Георги Ангелов
http://ikonomika.org/?p=1563

2008-10-21

Readings

Gold runs out in German rush
http://www.thisislondon.co.uk/standard-business/article-23571196-details/Gold+runs+out+in+German+rush/article.do

UNG daily chart
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/426651843/ung-daily-chart.html

Potential Inverse H&S Bottom on Gold
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/potential-inverse-h-bottom-on-gold.html
I am bullish on gold too, but this is *not* H&S bottom...

The SP 500 May be in a Cascading Waterfall Decline With a Bottom around 444
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/sp-500-may-still-be-on-edge-of-abyss.html
SPX chart

Oil and Gold Charts and Monday News
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/oil-and-gold-charts-and-monday-news.html

Bonddad Bullish?
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/bonddad-bullish.html

The world according to the goldbug newsletter writer
http://incakolanews.blogspot.com/2008/10/world-according-to-goldbug-newsletter.html
Is more like a joke...

OPEC plans emergency meeting, auto industry cheers
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/20/opec-plans-emergency-meeting-auto-industry-cheers/

What Now?
from Wallstrip
http://www.wallstrip.com/2008/10/20/what-now-2/

The gold price during recessions
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/gold-price-during-recessions.html

Very oversold market
http://www.financialsense.com/editorials/swenlin/2008/1017.html

Gold/Silver/USD Market Update
by Clive Maund
http://www.safehaven.com/article-11608.htm
...and...
http://www.safehaven.com/article-11607.htm

Marco Polo Goes West
by Adrian Ash (Bullionvault.com)
http://www.safehaven.com/article-11588.htm

In Bulgarian:

МВФ може да спаси Балканите от финансовата буря
IMF can (will) save Balkans from financial storm

from e-vestnik.bg by e-vestnik.bg
http://e-vestnik.bg/4857
is not for Bulgaria

Грузия не се плаши от войната, ще пребори и финансовата криза
Georgia is not afraid from the war, will overcome the financial crisis as well
from e-vestnik.bg by e-vestnik.bg
http://e-vestnik.bg/4855

2008-10-20

Readings

Dow 4,000?
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/424815795/dow-4000.html

AP IMPACT: Mortgage firm arranged stealth campaign
http://biz.yahoo.com/ap/081020/the_influence_game_housing.html
Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.

Warren Buffett sees danger in treasury bonds
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/18/warren-buffett-dumps-treasury-bonds-buys-stocks/

Forex Friday
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/forex-friday.html

Hedge Fund Redemptions Creating Problems
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/hedge-fund-redemptions-creating.html

Google sees profit, sales increase
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/17/google-sees-profit-sales-increase/

Six Wall Street Banks to Distribute 10% of the $700 Bn Rescue as Pay and Bonuses for This Year's Performance
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/wall-street-banks-to-pay-out-10-of-700.html

Major Market Bottoms over the Last 150 Years
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/major-market-bottoms-over-last-200.html

Charts in the Babson Style for the Week Ending 17 October
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-in-babson-style-for-week-ending_17.html

Short Term Treasury Debt Issuance Goes Parabolic
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/short-term-treasury-debt-issuance-goes.html
For the moment, this is may be the most important chart of all

Oil, OPEC

Barrel of oil price
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/17/barrel-of-oil-price/

EU:

Netherlands Injects $13.4 Billion in ING
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/425963874/netherlands-injects-134-billion-in-ing.html

Funny

Capitalism is dead!
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/capitalism-is-dead.html

Funny, in Russian:

Кто может быт президента? - Я :)
Who can be the president? - Me :)

http://www.youtube.com/watch?v=8QH_Oxv07UY

Звери - До Встречи
http://www.vbox7.com/play:75079007
nice russian song, no need to know Russial to watch :-)

2008-10-17

Making history...

VIX hit another high yesterday...

Readings

Charts in the Babson Style for the Morning of 16 October
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-in-babson-style-for-morning-of.html

Fool's Mission By OPEC
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/422998246/fools-mission-by-opec.html

Ah ... So That Explains Today's Price Action in Gold
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/ah-so-that-explains-todays-price-action.html

Today's Markets
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/todays-markets_16.html

Where Are Food Prices Headed?
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/423533057/where-are-food-prices-headed.html

MISC:

Oil and gold contest - only one week left!
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/oil-and-gold-contest-entries-close-in.html

Happy Birthday to Wallstrip :)
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/16/happy-birthday-to-us/

EU:

Switzerland Bails out UBS
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/423014069/switzerland-bails-out-ubs.html

British PM Gordon Brown wants change
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/16/british-pm-gordon-brown-wants-change/

In Bulgarian:

Плоският данък е опасен за БСП
from Господин_И вер.2 by ilia.markov@gmail.com (Господин И)
http://feeds.feedburner.com/~r/gospodin-i/~3/422741505/blog-post_16.html

Оляха се
from ИВАН БЕДРОВ
http://ivanbedrov.blogspot.com/2008/10/blog-post_4350.html
Орден "Стара планина" и за Тодор Батков

Кризата идва – сега накъде?
Автор: Димитър Чобанов
http://ime.bg/bg/articles/krizata-idwa-sega-nakyde/

FUNNY, In Russian:

Абоненты бывают разные и такие тоже
http://saper.ru/?topicid=4205

2008-10-16

Net Asset Value of Certain Precious Metal Funds and Trusts

Jesse compares premiums on CEF, GLD and others:

Net Asset Value of Certain Precious Metal Funds and Trusts
http://jessescrossroadscafe.blogspot.com/2008/10/net-asset-value-of-certain-precious.html

EU leaders urged international help for crisis-hit Iceland

2008-10-16 15:05:46
BRUSSELS, Oct 16 (Reuters) - European Union leaders urged international help for crisis-hit Iceland on Thursday, but warned Reykjavik must respect its international commitments.
'The European Council expresses its solidarity with the efforts made by Iceland ... which requires the support of the international community,' a statement approved by leaders at the final session of a two-day summit said.
The crisis stemming from huge debts taken on by Iceland's main lenders has brought down the banking system and made the local currency virtually untradeable.
The EU leaders 'expect from Iceland that it respects its international commitments,' the statement said.
A diplomatic row broke out between Iceland and Britain, where thousands of account holders have been unable to withdraw their money.
As well as having to worry about foreign creditors, Icelandic banks have billions of dollars' worth of deposits in other countries that need to be repaid.
The governments of Belgium and Luxembourg will meet on Friday morning to discuss how they can help Iceland's main bank Kaupthing Bank and ensure that Belgian and Luxemburguese depositors do not lose their money, Belgian's prime minister Yves Leterme said on Thursday.
After that meeting Leterme will travel to Iceland on Friday to meet his counterpart, Geir Haarde.
'(It) is a problem for Iceland, a problem for Belgium and for Luxembourg, but ... first of all a problem for our citizens that gave their money, their savings to the Kaupthing bank,' Leterme told reporters.
'What kind of steps will be taken, we will discuss in the intercabinet discussion tomorrow,' he said.
The Belgian government is prepared to take a stake in to ensure that all Belgian savers at Iceland's biggest lender can get their money, Belgian Finance Minister Didier Reynders told financial daily De Tijd.
The government has already bailed out two Belgium-based banks -- Fortis and Dexia.
'The Belgian government is prepared to participate in a takeover of the bank. If that is the best way to give the depositors their money back, it is obvious that we think of that (option) in the first instance,' Reynders said in comments published on Thursday.
Reynders later told Reuters: 'The best solution is to go further with the bank, maybe with another partner.' He declined to confirm if that meant taking an equity stake.
Kaupthing Bank operates in Nordic countries as well as seven other European countries including Luxembourg and Belgium and was taken over by the Icelandic government last week.
Iceland was due to present a plan to the International Monetary Fund (IMF) in the coming days and is expected to seek funds. It was also looking at funding from oil-producing Russia.
Iceland's crisis is somewhat unique. The north Atlantic economy of some 300,000 people is highly developed and years of rapid growth have brought it unprecedented prosperity.
Icelandic banks in recent years embarked on a campaign of unbridled expansion, building up operations overseas but taking on huge debts. When global credit markets froze, the banks found themselves unable to meet obligations.
(Additional reporting by Antonia van de Velde; Editing by Paul Taylor) Keywords: FINANCIAL/EU ICELAND

MFN - can't see such spread every day

Stock Request > MINEFINDERS ORD (MFN)   

Stock Exchange Currency Last 10:21 Change
(AMEX) USD 4.29 -1.21 (-22.0%)


Bid size Bid Ask Ask size
1'000 4.35 5.24 100

Real time prices

Readings

HUI
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/421951681/hui.html

The Fed’s Last Hurrah
from FedUp! by Doug Eberhardt
http://youcanmakeadifference.org/fedup/archives/29

Gold, Oil, MZM, Credit and the Short Term Liquidity Contraction
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/gold-mzm-m2-bank-credit-and-current.html

Mexico (oil)
from Net Oil Exports by admin
http://netoilexports.blogspot.com/2008/10/mexicodraftoct08.html
...of if link still not work...
http://3.bp.blogspot.com/_kdcZbozWthI/SPYMZbetSOI/AAAAAAAAArM/hY34RanLHlg/s1600-h/mex2.gif

Where next for the global banking crisis?
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/16/where-next-for-the-global-banking-crisis/

EU:

UBS saved by their central bank
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/422332466/ubs-saved-by-their-central-bank.html
Credit Swiss also...

2008-10-15

Credit Crisis Explained

For those of you who have difficulty understanding the current world financial crisis and how it evolved, the following should help...


Once upon a time in a village in India, a man announced to the villagers that he would buy monkeys for $10.

The villagers seeing there were many monkeys around, went out to the forest and started catching them. The man bought thousands at $10, but, as the supply started to diminish, the villagers stopped their efforts. The man further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.

Soon the supply diminished even further and people started going back to their farms. The offer rate increased to $25 and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!

The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now act as buyer, on his behalf.

In the absence of the man, the assistant told the villagers: 'Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when he returns from the city, you can sell them back to him for $50.'

The villagers squeezed together their savings and bought all the monkeys.

Then they never saw the man or his assistant again, only monkeys everywhere!

Welcome to WALL STREET :o)

Readings

From the Afternoon:

Retail Sales Decline Sharply in September
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/421572759/retail-sales-decline-sharply-in.html

Historic bailout, huge efforts to make home loans cheaper drive mortgage rates ... UP?
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/historic-bailout-huge-efforts-to-make.html

Gold ETF (Amex: GLD) Fails To Deliver In Tough Times
from RSS Feed for Joe-Duarte.com Market Intelligence by admin@joe-duarte.com (Joe Duarte)
http://www.joe-duarte.com/saved_newsletters/2008_10/081015PR.html
Actually this is for gold, not for GLD

From the Morning:

Wild markets! Bonds crashing!
by Martin D. Weiss, Ph.D. 2008-10-14
http://www.moneyandmarkets.com/wild-markets-bonds-crashing-27495

Hank Listens Up
from Jeff Matthews Is Not Making This Up by Jeff Matthews
http://jeffmatthewsisnotmakingthisup.blogspot.com/2008/10/hank-listens-up.html

OPEC exports drop 600,000 bpd in September
from Net Oil Exports by admin
http://netoilexports.blogspot.com/2008/10/opecoct2008.html

3 Charts for Tuesday
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/3-charts-for-tuesday.html

Ron Paul on the $250 billion bank rescue
http://www.youtube.com/watch?v=rCiTykzX3ek
video

China - Oil Production
from Net Oil Exports by admin
http://netoilexports.blogspot.com/2008/10/china2008b.html
also car-sales

Global Financial Crisis
from Wallstrip » Episodes by Wallstrip.com
http://feeds.feedburner.com/~r/wallstrip/~3/420935972/
video

Wednesday Commodities Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/wednesday-commodities-round-up_15.html
CRB

The Top 10 Hints of Global Reflation
by Frank Barbera
http://www.financialsense.com/Market/barbera/2008/1014.html
nice charts

Iceland:

Iceland Stock Market Drops 77% As Trading Resumes
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/420803289/iceland-stock-market-drops-77-as.html

FUN:

Roubini's secret pleasures ;)
http://gawker.com/5063337/the-secret-pleasures-of-dr-doom

2008-10-14

Credit Crisis Over

Dow almost 1,000.00 points up !!!
Credit Crisis over !!!

Long live inflation :o)

Readings

Markets
Dow rally 11% with 900+ points to 9,387.61
SPX rally 11% as well
Gold @ $830-850
Oil back over 80's
Bulgarian Inflation for last 12 mo is ~13%

Bush to announce expanded bank bailout details
http://us.rd.yahoo.com/finance/finhome/topstories/apf;_ylt=AgKGesadaVVs1k.qmZeDhNa7YWsA/*http://biz.yahoo.com/ap/081014/financial_meltdown.html
The Bush administration plans to spend an initial $250 billion of the $700 billion bailout buying stock in private banks, greatly expanding protections for the U.S. financial system out of deep concern for the faltering economy, industry and government officials said Monday night.

Capital Injection Dollars Announced
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/420069100/capital-injection-dollars-announced.html
(clarification where those $250B go)

European Countries take more action
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/419696824/european-countries-take-more-action.html
the $1.3 Trillion injection from yesterday

Global coordinated action to ease the credit crunch
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/global-coordinated-action-to-ease.html
(clarification where those $1.3T go)

How Did Our Credit Bubble Reach Such Destructive Proportions?
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/how-did-our-credit-bubble-reach-such.html
Questionable chart ;)

R.I.P EUR
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/419993646/rip-eur.html

Doom and Gloom
from The Great Depression of 2006 by Jim in San Marcos
http://greatdepression2006.blogspot.com/2008/10/doom-and-gloom.html
The Dow goes up 1,000 points. Sounds a little steep for one day doesn’t it? I was at the supermarket today and was looking for the cottage cheese. The real cheap stuff that I buy was $2.29 a pound. It was $1.69 one month ago

Ludwig von Mises now turning in his grave
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/ludwig-von-mises-now-turning-in-his.html
European governments offer $2 trillion for banks

Ten people who predicted the financial meltdown
http://timesbusiness.typepad.com/money_weblog/2008/10/10-people-who-p.html
I may add Peter Schiff, Jim Puplava and would remove Kondratiev

Uncle Jay Explains the News - Global Economical Recession
http://www.youtube.com/watch?v=CO92HJPL5do
video

2008-10-13

Readings

Charts in the Babson Style for 13 October 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-in-babson-style-for-13-october.html

Here is the Stock Market Crash
by Michael Swanson
http://www.safehaven.com/article-11522.htm

SP Index at 400?
by Richard Shaw
http://www.safehaven.com/article-11555.htm

Ouch!
by Angelo Campione
http://www.safehaven.com/article-11531.htm
SPX

Gold and silver prices reach a major tipping point
http://www.ameinfo.com/171121.html
In an unprecedented move last week, central banks practically stopped lending gold to banks and other participants in the precious metals market.

EU:

Germans Stockpiling Gold Amid Market Panic
http://www.dw-world.de/dw/article/0,2144,3698865,00.html
German gold dealers have stopped taking new orders for the precious metal as demand has skyrocketed.

Readings

CDO explained
http://vimeo.com/1876936
video

Historic (VIX)
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/416879215/historic.html

Notes From the Rabbit Hole #3
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/418720668/notes-from-rabbit-hole-3.html
(Dow)

Is This a 'Deflationary Moment?
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/is-this-deflationary-moment.html
In short, no.

Long Term DJIA Adjusted for Inflation - Quo Vademus?
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/long-term-djia-adjusted-for-inflation.html

After 20 years of decadence, pay-back time!
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/418964645/after-20-years-of-decadence-soon-time.html

Forex Fridays
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/forex-fridays.html

The Crisis is Over???
from The Great Depression of 2006 by Jim in San Marcos
http://greatdepression2006.blogspot.com/2008/10/crisis-is-over.html

"An inflationary holocaust" - Jim Rogers
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/418469133/inflationary-holocaust-jim-rogers.html
video

Federal Reserve and other central banks announce unlimited liquidity
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/419236695/fed-federal-reserve-and-other-central.html

GM to Acquire Chrysler?
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/417402952/gm-to-acquire-chrysler.html

Volcker: We Have the Tools to Manage the Crisis
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/416785613/volcker-we-have-tools-to-manage-crisis.html

Fed Announces Unlimited Borrowing
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/419276845/fed-announces-unlimited-borrowing.html

Fannie, Freddie Commit to Waste $40 Billion a Month Taxpayer Money
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/418268892/fannie-freddie-commit-to-waste-40.html

S&P 500 Crash Count
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/416910789/s-500-crash-count.html
Elliott wave on SPX

Warren Buffett biggest loser on Wall Street
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/11/warren-buffett-biggest-loser-on-wall-street/

Gold prices getting fishier and fishier
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/gold-prices-getting-fishier-and-fishier.html

COMMODITIES:

Wheat -- Long-Term Chart
from Trend and Value Report by Lucas Elam
http://feeds.feedburner.com/~r/trendandvalue/~3/419357300/wheat-long-term-chart.html

Soybeans -- Long-Term Chart
from Trend and Value Report by Lucas Elam
http://feeds.feedburner.com/~r/trendandvalue/~3/419347671/soybeans-long-term-chart.html

EU:

Gordon Brown gets mad about oil
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/10/gordon-brown-gets-mad-about-oil/
this is little bit socialism?

U.K.: cash injections for RBS, HBOS, Lloyds TSB
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/419246473/uk-cash-injections-for-rbs-hbos-lloyds.html

$400+ Billion German Bailout Possible
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/418123970/400-billion-german-bailout-possible.html

UK to Invest in Banks on Monday
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/418031187/uk-to-invest-in-banks-on-monday.html

Report: Germany Considering Bank Recapitalization Plan
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/416900176/report-germany-considering-bank.html

Royal Bank of Scotland, HBOS Nationalized
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/419087725/royal-bank-of-scotland-hbos.html

WORLD:

Austrians in a Quiet Rush to Gold
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/central-europeans-in-quiet-rush-to-gold.html

2008-10-11

Kitco depleated

Before I published kitco inventory depleated this time for real.
What do you know... This is current list of products for sale:
[begin of list]


1. Gold Maple 1 oz (Olympic Edition) $910.46
2. Gold Bar 400 oz (Please place order by phone) $342,560.00
3. Silver Bar 1000 oz $10,490.00


[end of list]

2008-10-10

EU market update aaaaagggrrrrrrrr.......

UK - FTSE100 - minus 7%
DE - DAX - minus 9%
CH - SMI - minus 7%

Readings

Market indexes:
Oil @ 82
Dow @ 8,579.19
SPX @ 909.92 on HUGE volume

Robert McHugh was right!
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/415954446/robert-mchugh-was-right.html
...and...
http://feeds.feedburner.com/~r/Bearwatch/~3/416486719/elliot-wave-again.html
Indeed he was...

Back to Kondratieff
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/416486720/back-to-kondratieff.html
I still not buy deflation

The latest plan to save the world: Direct equity investments in banks
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/latest-plan-to-save-world-direct-equity.html
...and...
G-7 Weighs Loan Guarantee Plan
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/416592258/g-7-weighs-loan-guarantee-plan.html
...and...
US Considering Nationalizing Banks
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/us-considering-nationalizing-banks.html

Charts - 9 October 2007 - Jeudi Noir
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-9-october-2007-jeudi-noir.html

Thursday Oil Market Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/thursday-oil-market-round-up_09.html

Down the rabbit hole
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/down-rabbit-hole.html
GLD tonnage, not at high point, but almost there

GM stock down again
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/09/gm-stock-down-again/
GM' stock @ 1950's prices

AIG Borrows $70.3 Billion From Government
from TheStreet.com by twocents@thestreet.com (TSC Staff)
http://www.thestreet.com/story/10441740/1/aig-borrows-703-billion-from-government.html?puc=_tscrss

FUNNY:

National Debt Clock can’t afford another digit
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/09/national-debt-clock-cant-afford-another-digit/

UK:

Gordon Brown: Follow Our Lead
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/416245488/gordon-brown-follow-our-lead.html

A big figure
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/415587990/big-figure.html
Why UK sucks more than US

Iceland:

Iceland seizes Kaupthing, Closes Stock Exchange
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/415866348/iceland-seizes-kaupthing-closes-stock.html

Marc Faber Q&A

1:20 min audio of Marc Faber @ Bloomberg

http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vWAAmxBK4.aA.asf

...or feed directly - copy paste in Internet Explorer only,
then WinAmp or Media Player will got it)

mms://media2.bloomberg.com/cache/vWAAmxBK4.aA.asf

Kitco inventory depleated... this time for real...

Several days ago, I posted that Kitco is depleated.

Well now it is really depleated.

You can not buy 1 oz coin (except Gold Maple 1 oz Olympic Edition - whatever this is)
You can not buy 1/2 oz coins at all !!!
Only silver product you can buy is 1000 oz bar !!!

Dow under 9000

Dow is not only 4 digits, is under 9,000 level.
Now - Limbo rock - how low you will go?
8,235 is one of the targets, 7,700 - 7,800 is super strong support.

If you read this blog you will know I am actually bullish on the stockmarket - hyperinflationary bullish. We will see if I am correct.

Dow/Gold ratio = 9 now.

2008-10-09

Readings Safehaven

Weapons of Financial Mass Destruction
by Gary Dorsch
http://www.safehaven.com/article-11502.htm

Gold vs. World
by Roy Martens
http://www.safehaven.com/article-11474.htm
couple of gold charts

Dollar Death Ray #2
by Ned W. Schmidt
http://www.safehaven.com/article-11447.htm

The Financial Panic of 2008
by David Chapman
http://www.safehaven.com/article-11466.htm
cycles

UK:

UK Interest Rate Forecast 2009
by Nadeem Walayat, TheMarketOracle.co.uk
http://www.financialsense.com/fsu/editorials/walayat/2008/1008.html
questionable ;)

Gold and the Flood of Cheap Government Money
by Paul Tustain (BullionVault)
http://www.safehaven.com/article-11501.htm

Readings


Financial Crisis: Rush for gold as savers queue for bullion
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3123775/Financial-Crisis-Rush-for-gold-as-savers-queue-for-bullion.html

End of the dollar as the world's reserve currency?
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/415497369/end-of-dollar-as-worlds-reserve.html
...and...
Currency devaluation time?
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/415122563/currency-devaluation-time.html
...and...
Shhhhhh! Here is a Secret Worth Remembering.
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/shhhhhh-here-is-secret-worth.html

Gulf State Central Banks to Increase Gold Reserves
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/gulf-state-central-banks-to-increase.html

Charts in the Babson Style for Miercoles Matado 8 October 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-in-babson-style-for-mircoles.html
notice the gap @ Dow...

Want to get real funky?
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/414944085/want-to-get-real-funky.html
Dow must raly

Time for a little truth
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/414792324/time-for-little-truth.html

Treasury To Take Ownership Stake In Banks
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/415116831/trichet-offers-unlimited-cash.html
Dont missunderstood, this is for USA

Trichet Offers Unlimited Cash
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/415116831/trichet-offers-unlimited-cash.html

Rate cuts boost gold, silver, higher prices imminent
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/08/rate-cuts-boost-gold-silver-higher-prices-imminent/

Wednesday Commodities Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/wednesday-commodities-round-up_08.html
CRB

Surprise! Nouriel Roubini predicts a long recession
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/surprise-nouriel-roubini-predicts-long.html
...predicting a recession of at least two years... Hmmm, similar to my forecast for 2012

Mark Cuban is going long
from uglychart.com: a blog about stocks by Mike
http://feeds.feedburner.com/~r/uglychart/~3/415407343/

Fed Expands Loans to AIG
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/415141270/fed-expands-loans-to-aig.html

OTHERS:

Lawmaker’s son indicted in Palin e-mail hacking
from Lawinfo Weblog by admin
http://feeds.feedburner.com/~r/LawinfoWeblog/~3/414908307/

2008-10-08

A coordinated global rate cut

A coordinated global rate cut
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/coordinated-global-rate-cut.html

Thanks to Tim, here is the summery:

US: from 2.0% to 1.5%
ECB: from 4.25% to 3.75%
BOE: from 5.0% to 4.5%
Canada: from 3.0% to 2.5%
Sweden: from 4.75% to 4.25%
Switzerland: from 3.0% to 2.5%
China: from 7.2% to 6.9%


Long live inflation :)

Deflationista anyone?!?!

Second bailout in the works

in a forum:
I just received a email from my Senator Obama(not a fan)he feels we urgently need a second bailout, i let him know the first was not needed and a second was not needed. As a former Bear Stearns employee i told him let the free markets do the job. People win and lose money so be it.


If you listened to the debate tonight you may know that it was McCain who advanced a new idea to buy struggling people's existing mortgages in a 300 billion dollar bail out. I am sure the republicans who have just found this out tonight are thrilled with their maverick.

Global rate cut pushed through; Fed funds dropping 0.5%

Global rate cut pushed through; Fed funds dropping 0.5%
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/global-rate-cut-pushed-through-fed.html

Round 2 Of the Credit Crisis
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/round-2-of-credit-crisis.html

Readings

i Chart Geek
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/414017798/i-chart-geek.html
HUI chart

UK: GBP 50 Billion Recapitalisation, GBP 200 Billion Special Liquidity Schemes
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/414571559/uk-50-billion-recapitalisation-200.html

Spain Tries a TARP, UK to Announce "Dramatic Rescue Package"
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/414130509/spain-tries-tarp-uk-to-announce.html

Consumer credit plunges most in history
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/consumer-credit-plunges-most-in-history.html

Charts in the Babson Style for Mardi Sanglant 7 October 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-in-babson-style-for-mardi.html

The US Dollar Long Term Chart and Four Scenarios
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/us-dollar-long-term-chart-and-four.html

Going Nowhere for 17 Years?
by chrispycrunch
http://chrispycrunch.blogspot.com/2008/10/going-nowhere-for-17-years-in-july.html
Dow

What Bill Gross wants, Bill Gross gets
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/413844064/what-bill-gross-wants-bill-gross-gets.html

News for Today
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/news-for-today.html

We're getting less wealthy ... again
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/were-getting-less-wealthy-again.html
Retirement accounts have lost $2 trillion

Bailout 2
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/07/bailout-2-electric-boogaloo/

Marc Faber latest interview
http://www.cnbc.com/id/27063664

Bennye' speech

Bernanke: Economic Outlook "has worsened"
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/413995675/bernanke-economic-outlook-has-worsened.html

Bernanke speech focuses on economic weakness, opens door to rate cut
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/bernanke-speech-focuses-on-economic.html

The Fed Signals Rate Cut; Remains In Close Contact with Treasury as Banking Crisis Deepens
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/fed-wall-street-and-treasury-are-in.html

Real Price Of Gold Soars
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/414000951/real-price-of-gold-soars.html

Bernanke speaks
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/07/bernanke-speaks/

EU:

Iceland secures loan from Russia
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/07/iceland-secures-loan-from-russia/

in Bulgarian:

Кризата в САЩ май е нищо пред това, което иде в Русия.
Crysis in US is nothing compared to Russia
from e-vestnik.bg by e-vestnik.bg
http://e-vestnik.bg/4783

И аз съм склонна да пренебрегвам правата на човека
from Семки и бонбонки by Вени Г.
http://semkiibonbonki.blogspot.com/2008/10/blog-post_5187.html
...or...
7-годишен нахлу в зоопарк и уби с камъни 13 редки животни
http://news.ibox.bg/news/id_1218449141

2008-10-07

3 digit SPX

S&P 500 is now 996

Readings

Gold set to leap?
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/412999387/gold-set-to-leap.html

Relevant weekly charts
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/412725719/relevant-weekly-charts.html
Stocks, Gold, USD

Fed opens the liquidity spigot even further, to pay interest on reserves
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/fed-opens-liquidity-spigot-even-further.html

Charts for Bloody Monday 6 October 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-for-bloody-monday-6-october-2008.html

Will the Fed Cut Rates by 75 Basis Points? They May Already Have.
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/will-fed-cut-rates-by-75-basis-points.html

Unbridled Monetization - We're All at the Discount Window Now
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/unbridled-monetization-were-all-at.html

Unbridled Monetization - We're All at the Discount Window Now
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/unbridled-monetization-were-all-at.html

Another Monday, Another Meltdown
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/another-monday-another-meltdown.html

Monday Market Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/monday-market-round-up.html

Have you seen M3 lately?
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/have-you-seen-m3-lately.html

Gross: Cut short-term rates to one percent
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/gross-cut-short-term-rates-to-one.html

This doesn't happen very often...
from The Mess That Greenspan Made by noreply@blogger.com (Tim)
http://themessthatgreenspanmade.blogspot.com/2008/10/this-doesnt-happen-very-often.html

Oil reaches 10-month low, DOW drops below 10,000
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/06/oil-reaches-10-month-low-dow-drops-below-10000/

Possible G8 and Fed Action
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/10/possible-g8-and-fed-action.html

Germany Guarantees All Deposits
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/10/germany-guarantees-all-deposits.html

BofA Cuts Dividend in Half, Sees Further Weakening
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/10/bofa-cuts-dividend-in-half-sees-further.html

Gross to Fed: Cut Rates to 1%, Buy Commercial Paper
by CalculatedRisk
http://calculatedrisk.blogspot.com/2008/10/gross-to-fed-cut-rates-to-1-buy.html
[The Fed] must also take another bold step: outright purchases of commercial paper. They should also cut interest rates to 1%, because we are experiencing asset deflation, and the threat of headline inflation is long past.

Not With a Bang But a CPFF: Fed to Buy Unsecured Commercial Paper
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/fed-to-buy-unsecured-commercial-paper.html

Fed's stealth cut of interest rates
from Reality Lenses by pej
http://feeds.feedburner.com/~r/RealityLenses/~3/413656826/feds-stealth-cut-of-interest-rates.html

Gold May Double in Price as Paper Gold Market Collapses
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/gold-may-double-in-price-as-paper-gold.html

OTHERS:

Dangerous Fakes CPU's and Chips
http://www.businessweek.com/magazine/content/08_41/b4103034193886.htm

IN BULGARIAN:

Прага и комунизма / Prag and Communism
from трънки и блогинки by пейо
http://blog.peio.org/?p=2034

2008-10-06

Four digit Dow

Dow is under 10,000 now...
Give me next bailout...

Swap trade...

Sold KGC @ 14.47, bought PWE @ 17.30
I believe this PWE price is ridicolous cheap...
PWE now @ 16.77...

Readings

Even California could need a bailout
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/even-california-looking-for-bailout.html

Charts in the Babson Style for the Week Ending 3 October 2008
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/charts-in-babson-style-for-week-ending.html

Gold, silver to jump on US rate cut tomorrow
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/05/standby-for-an-emergency-us-rate-cut-buy-gold-and-silver/

Saturday Morning Reading
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/saturday-morning-reading.html
Misc oil news, incl from Matt Simmons

Interest Rates Will Jump to the Sky
from The Great Depression of 2006 by Jim in San Marcos
http://greatdepression2006.blogspot.com/2008/10/interest-rates-will-jump-to-sky.html
did not read it, but looks interesting...

Wells Fargo, Wachovia merge
from Wallstrip » Blog by Wallstrip
http://www.wallstrip.com/2008/10/03/wells-fargo-wachovia-merge/

US debt-to-GDP, 1940 - onwards
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/410210021/us-debt-to-gdp-1940-onwards.html

BAILOUT

Bailout bill passes the House; Market tanks anyway
from Interest Rate Roundup by Mike Larson
http://interestrateroundup.blogspot.com/2008/10/bailout-bill-passes-house.html

Vote: 263 Yes to 171 No
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/410452895/vote-263-yes-to-171-no.html

Wall Street rejects $700m bailout plan, crash coming!
from Peter J. Cooper's Weblog by peterjcooper
http://arabianmoney.net/2008/10/04/wall-street-rejects-700m-bailout-plan-crash-coming/
???

DOLLAR

The Euro and British Pound Come Down to Earth
by Jack Crooks 10-04-08
http://www.moneyandmarkets.com/Issues.aspx?NewsletterEntryId=2376

Pound and Euro Sink in European Bank Crisis
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/412494276/pound-and-euro-sink-in-european-bank.html

France To Buy 30,000 Homes. How Many Will U.S. Own?
from Mish's Global Economic Trend Analysis by Michael Shedlock
http://feeds.feedburner.com/~r/MishsGlobalEconomicTrendAnalysis/~3/411724743/france-to-buy-30000-homes-how-many-will.html

How to force the UK Government to give 100% guarantee on your deposits
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/411762549/how-to-force-uk-government-to-give-100.html

MISC

Skype Messages Monitored In China
from disclosing webtapping by pej
http://webtapping.blogspot.com/2008/10/skype-messages-monitored-in-china.html

2008-10-03

Readings

US debt outstanding, Fiscal Years 1950 - 2008
from Bearwatch by noreply@blogger.com (Sackerson)
http://feeds.feedburner.com/~r/Bearwatch/~3/409973505/us-debt-outstanding-fiscal-years-1950.html

AUY - Not a good omen
from Biiwii.com Technical Analysis & Commentary by Gary from biiwii.com
http://feeds.feedburner.com/~r/BiiwiicomNotes/~3/409605537/auy-not-good-omen.html

Fed: AIG Drawdown Rises to $61.3 Billion
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/409613942/fed-aig-drawdown-rises-to-613-billion.html

The Dollar Rally and Deflationary Imbalances in the US Dollar Holdings of Overseas Banks
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/short-term-imbalance-in-dollar-assets.html

Discount Window Lending Soars to Another Record
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/discount-window-lending-soars-to.html
409.5B

TED Spread Soars to a New Record - Symptom of the EuroDollar Squeeze?
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/ted-spread-soars-to-new-record.html

Waves of Credit Default Swaps Incoming
from Jesse's Cafe Americain by Jesse
http://jessescrossroadscafe.blogspot.com/2008/10/what-panicked-ben-and-hank-time-to.html

Assessing the U.S. Economy After Any "Bailout"
by chrispycrunch
http://chrispycrunch.blogspot.com/2008/10/assessing-u.html
informative-only article on economy, USD and GE

Marc Faber see the Fed as a drug dealer!
via peterjcooper
http://www.youtube.com/watch?v=gMejqeqwQyU
video

Wild Days for the Dollar, Oil and Gold
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/wild-days-for-dollar-oil-and-gold.html

Some Charts of Interest
from Red-Hot Resources by Sean Brodrick
http://redhotresources.blogspot.com/2008/10/some-charts-of-interest.html

Thursday Oil Market Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/thursday-oil-market-round-up.html
Oil bear

Today's Markets
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/todays-markets_02.html

Friday Forex Round-Up
from The Bonddad Blog by bonddad
http://bonddad.blogspot.com/2008/10/friday-forex-round-up.html
USD bull

Bailout Review
http://www.wallstrip.com/2008/10/02/bailout-review/
video

INTERNATIONAL:

Greece Guarantees All Deposits
from Calculated Risk by CalculatedRisk
http://feeds.feedburner.com/~r/CalculatedRisk/~3/409918966/greece-guarantees-all-deposits.html

OTHERS:

Hot Topic: The Top 10 Consumer Scams
from Lawinfo Weblog by Senior Editor
http://feeds.feedburner.com/~r/LawinfoWeblog/~3/409723629/