Euro solution will fail!

By the time you read this e-mail, Europe’s leaders will likely have agreed to some sort of solution to its harrowing financial crisis. But whatever their proposals are, they are not likely to work. Not for long, at least.

You’ll want to know why I say that.

Naturally, you’ll also get my latest views on the key markets: Gold, silver, the dollar and the Dow Industrials.

Best wishes

Larry

P.S. Everything I study … every indicator … every trading system I monitor — tells me that 2012 will be one of the most violent, treacherous years for the financial markets, ever. But it also can be one of your most profitable years yet!

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via Euro solution will fail! | Uncommon Wisdom Daily.

US Money Supply Surges Surges 33% in 4 Months – Global Money Supply to Lead to Gold $10,000/oz?

Is it any wonder why our economy is in dire straits?  Printing money to keep the economy afloat is no substitute for real economic growth, it’s simply more smoke and mirrors that results in a wealth transfer from the poor and middle classes to the wealthy, the political class, and government.  JT

US Money Supply Surges Surges 33% in 4 Months – Global Money Supply to Lead to Gold $10,000/oz?

— Posted Friday, 21 October 2011 | Share this article | Source: GoldSeek.com

Gold is trading at USD 1,623.80, EUR 1,177.95, GBP 1,027.01, JPY 124,535.72, AUD 1587.39 and CNY 10,354/oz. Gold’s London AM fix this morning was USD 1,623.00, GBP 1,027.02 and EUR 1178.14 per ounce. Yesterday’s AM fix was USD 1,629.00, GBP 1,033.24 and EUR 1,180.17 per ounce.

U.S. M2 Money Supply: Accelerating Sharply in 2011

Gold prices are mixed today as markets remain on edge due to increasing divisions amongst European leaders on how to solve the intractable Eurozone debt crisis. There continues to be very strong demand for physical bullion globally and support is strong at the $1,600 level due to this demand.

The sharp fall of copper yesterday, by 6%, is an indication that the US, Chinese and indeed global economy is very fragile and may soon begin to contract.

Physical demand in Asia, mainly India and China, has entered the traditional peak season with Indian festivals and the increasingly important Chinese New Year.

This is reflected in premiums in Asia which remain good. There are reports of massive physical buying out of China on gold’s fall close to $1,600 yesterday. The most active Shanghai gold futures traded at a premium of more than $10 over spot prices earlier today. The contract stood at 335.22 yuan a gram, or $1,634 an ounce, at a premium of $3.

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via US Money Supply Surges Surges 33% in 4 Months – Global Money Supply to Lead to Gold $10,000/oz?.

Demands of the Mentally Deranged

Recently an Occupy Wall Street protester posted a list of demands. As I stated in my article covering the local OccupyMN movement these types of protests are composed of a great number of individuals with varying grievances. It is unfair to state any set of demands is attributed to the entire movement but alas the recently posted set of demands are being promoted by a great number of the participants so I thought it would be fun to go through the demands one by one and point out the complete failure of logic.

Admin note: This is not an official list of demands. This is a forum post submitted by a single user and hyped by irresponsible news/commentary agencies like Fox News and Mises.org.

Stating that the Mises Institute and Fox News are in any way comparable demonstrates the complete ignorance of the person posting that note. One is a news organization that panders to its neo-conservative audience while the other is one of the few sources of real scholarly economic knowledge and libertarian philosophy.

Anyways we know what level of idiocy we’re dealing with here so let’s move onto the demands:

Demand one: Restoration of the living wage. This demand can only be met by ending “Freetrade” by re-imposing trade tariffs on all imported goods entering the American market to level the playing field for domestic family farming and domestic manufacturing as most nations that are dumping cheap products onto the American market have radical wage and environmental regulation advantages.

Oh wow… at least the author presented his complete ignorance from the get go. First of all free trade isn’t the problem with our economy, government regulations are. The author stated other countries have wage and environmental regulatory advantages so the United States government needs to respond by enacting further regulations to offset the disadvantage created by their current regulations. I’m guessing if the author’s house was burning down he’d try dousing the blaze in gasoline in an attempt to improve the situation.

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via Demands of the Mentally Deranged at A Geek With Guns.

Gold Liquidations Open Thread

Gold Liquidations Open Thread | ZeroHedge.

Dow Plunges 3.5 Percent on Fears of Global Recession

Dow Plunges 3.5 Percent on Fears of Global Recession.

Dow Plunges on Fears of Global Recession

Dow Plunges on Fears of Global Recession.