|
|
|
|
|
|
|
|
|
|
|
|
| RATIOS & INDEXES |
| Gold / Silver | 63.34 |
| Gold / Oil | 13.79 |
| Dowjones / Gold | 11.22 |
|
|
|
|
|
|
|
|
|
 | Articles related to Central Bank |  |
| |
 | Tim Iacono - Iacono Research |
| How’s this for an Image? |
| It should be an interesting day today as Federal Reserve Chairman Ben Bernanke weighs in on the health of the U.S. economy, the falling inflation rate, nascent asset bubbles, and increasingly volatile financial markets, all of which are influenced to varying degrees by central bank actions, both in the U.S. and abroad. From this Wall Street Journal story yesterday comes the image below depicting the worst case scenario for some investors.
We are off to Yellowstone for the day and, as such, won’Wednesday, June 19, 2013 |
|
 | Mark O'Byrne - gold.ie |
| U.S. Mint Sales of Silver Coins Reach Record in 2013 First Half |
| Today’s AM fix was USD 1,366.00, EUR 1,019.86 and GBP 874.91 per ounce.
Yesterday’s AM fix was USD 1,378.50, EUR 1,030.35 and GBP 880.32 per ounce.
Gold fell $16.60 or 1.2% yesterday and closed at $1,367.10/oz. Silver finished down 1.01%.
Gold’s weakness continues and gold is now near the lowest level in four weeks, as a liquidity driven rally in stocks and investor caution over the Federal Reserve’s monetary policy is contributing to a nervous gold market.
Silver in USD, 3 Year – (GoldCore)Wednesday, June 19, 2013 |
|
 | Mish - Global Economic Analysis |
| Cash Squeeze in China, Interest Rate Swaps Rise Most in 22 Months; China's Credit Bubble About to Po |
| Bloomberg reports China Swaps Surge as Cash Squeeze Sees Demand Wane at Debt Sale.
China’s one-year interest-rate swap rose by the most in 22 months as the central bank refrained from adding funds to the financial system to ease a cash squeeze, causing demand to fall at a government debt auction.
“The cash shortage may get even worse before the quarter-end because banks will have to hoard cash to meet loan-to-deposit ratio requirements,” said Chen Qi, a strategist at UBS Securities Co. in ShaWednesday, June 19, 2013 |
|
 | Chris Powell - GATA |
| Fed's doubletalk losing effectiveness, Turk tells King World News |
| The Federal Reserve thinks it can control markets by talking out of both sides of its mouth but its denial of inflation isn't convincing people anymore and markets are starting to spin out of the central bank's control, GoldMoney founder and GATA consultant tells King World News today. An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/18_Tu...Wednesday, June 19, 2013 |
|
| Mish - Global Economic Analysis |
| Brazilian Currency Touches Four-Year Low Prompting Intervention; Currency Intervention Madness Displ |
| Bloomberg reports Brazilian Currency Touches Four-Year Low, Prompting Intervention
Brazil’s real touched a four-year low, prompting the central bank to intervene for a second straight day as a report showed higher-than-forecast inflation.
“If there’s more currency devaluation, there will be more inflation,” Jankiel Santos, the chief economist at Banco Espirito Santo de Investimento in Sao Paulo, said in a telephone interview. “On top of that, the IGP-M shows that wholesale prices are under pWednesday, June 19, 2013 |
|
 | Ranting Andy - Miles Franklin |
| Black Market |
| Read the Monday Afternoon Wrap-Up for 6/17/2013 and the Tuesday Morning Commentary for 6/18/2013
Last week, I saw the below article about how Europe’s “black market” is booming…
Europe’s Black Market Economy is Booming
…in other words, the “off the books” movement to avoid onerous taxes in a socialist – bordering communist – society gone BERSERK…
Soaring tax rates feeding Europe’s booming black markets, study says
…which is EXACTLY where America is heading…
Record Number of Households on Food StWednesday, June 19, 2013 |
|
 | Jesse - Le Café Américain |
| SHIBOR Signaling Stress in the Financial System - Liquidity Crunch |
| Here is some interesting data out of China. The story is by Matt Phillips.
The inter-bank liquidity crunch is a classic banking problem for which the central bank as lender and regulator was created.
It would be nice if the bankers could get in front of these problems as they develop, and not merely throw the public's money at them after the fact when bad bank management, official corruption, and excessive greed have made the system vulnerable.
LIBOR itself is quiet, which suggests that thisTuesday, June 18, 2013 |
|
 | Chris Ciovacco - Ciovacco Capital Management |
| Navigating A Fed-Dependent Market |
| Experienced traders and investors respect and understand the concept of "Don't
fight the Fed". The basic rationale behind the expression is that when the
Fed is printing money, the odds are tilted in the bulls' favor. Conversely,
when the Fed is tightening policy, bearish odds begin to pick up.
What Fight Are We Trying To Avoid?
One of the most frustrating aspects of investing during Ben Bernanke's watch
is the constant stream of conflicting messages being delivered by members of
thTuesday, June 18, 2013 |
|
 | Charleston Voice |
| Gold is being supplied by western governments |
| 2013-JUN-16
There has been considerable throughput of gold in western capital markets, with substantial buying from all round the world following the April price crash. The supply can only have come from two sources: the general public, or one or more governments. It really is that simple.
Two months later the gold price has only partially recovered, so physical supplies have continued to be made available. Physical demand cannot have been entirely satisfied by ETF liquidations, confirmiTuesday, June 18, 2013 |
|
 | Michael Pento - Delta Global Advisors |
| Market Calls Fed's Bluff |
| The Fed has recently expressed a desire to begin winding down its Quantitative
Easing program in the next few months. This would be the first step towards
the eventual raising of interest rates. Mr. Bernanke and the other members
of our central bank believe the normalization of interest rates would occur
within the context of robust markets and rising GDP growth.
However, it seems the Fed has only succeeded in duping some perennial bulls
(and possibly even trying to convince itself) inMonday, June 17, 2013 |
|
| Jesse - Le Café Américain |
| Gold Premiums in Vietnam Hit $217 Over Spot In Heavy Demand |
| I think you have had to experienced a collapsing currency first hand in order to truly appreciate the fundamentals, and how these things can take on what seems almost like a force of nature.
I was doing business in Moscow during 1990's, and saw the slow motion collapse of the rouble. Or at least it seemed like a slow motion collapse at first, until it gained quite a bit of momentum, despite the measures they took to maintain 'official rates.' It was an enlightening episode.
I guess they had aMonday, June 17, 2013 |
|
 | Keith Weiner - Keth Weiner |
| Theory of Interest and Prices in Paper Currency Part III (Credit) |
| In the gold standard, credit comes into existence when one party lends and another borrows. The lender is a saver who prefers earning interest to hoarding his gold. The borrower is an arbitrager who sees an opportunity to earn a net profit greater than the rate of interest.Monday, June 17, 2013 |
|
| Tim Iacono - Iacono Research |
| Gold Up, Stocks Down: Will It Continue? |
| [Some excerpts from the latest issue of the Weekend Update at Iacono Research.]
Following another wicked sell-off on Friday, June 7th, gold and silver rebounded last week and they did so as the price of most other asset classes declined. Fresh safe haven demand as a result of rising geopolitical tensions in the Middle East were no doubt a factor as was a weaker U.S. dollar.
Though gold ETF outflows reached their slowest pace in four months and futures market positioning has improved considMonday, June 17, 2013 |
|
| Mark O'Byrne - gold.ie |
| Gold Demand Extraordinary In Vietnam – Paying $217 Premium Over Spot |
| The Vietnamese Central Bank sold another 25,700 taels (37.5 grams, 1.2 troy ounces) at a gold bar auction on Friday in order to try and satiate the massive public demand for gold in Vietnam.
The Central Bank hopes that the sale of gold into the market will reduce the very high premiums paid by gold buyers in Vietnam, the largest buyer of gold in Southeast Asia after Thailand and one of the largest physical buyers of gold per capita in the world.Monday, June 17, 2013 |
|
 | The Gold Report |
| George Soros Joins Michael Ballanger on the Goldbug Side of the Market |
| The Gold Report: A news story in mid-May reported that billionaire hedge fund manager George Soros had almost $240 million ($240M) in gold-related positions. Moreover, on May 16 he had purchased $25M in call options on the Market Vectors Junior Gold Miners ETF (GDXJ). What are your thoughts on that move?
Michael Ballanger: All one needs to look at is the historical relationship between gold and gold shares to see the logic behind such a move. With every market on every continent now surging toMonday, June 17, 2013 |
|
| Charleston Voice |
 Global Times - Hard lessons from China's silver standard  |
| History will repeat, but this time around America will not be able to coin silver Trade Dollars to conduct trade with Asia. Oops. Oh, where O where did my empire go?
Source: Caijing.com.cn
[08:30 July 15 2009]
Chinese macroeconomic historian Ray Huang used to say the Qing Dynasty never understood monetary and fiscal policy, and therefore was unable to compete against the West. In those days, monetary policy in China was essentially tied to silver, the national money standard since tMonday, June 17, 2013 |
|
 | Alasdair Macleod - Finance and Eco. |
Gold is being supplied by western governments  |
| There has been considerable throughput of gold in western capital markets, with substantial buying from all round the world following the April price crash. The supply can only have come from two sources: the general public, or one or more governments. It really is that simple. Two months later the gold price has only partially recovered, so physical supplies have continued to be made available. Physical demand cannot have been entirely satisfied by ETF liquidations, confirming governments are iMonday, June 17, 2013 |
|
 | Deepcaster |
| Prepare! ? Three MEGAS Coming & What to Do |
| "The implicit assumption behind that siren call must be that the inflation rate can be manipulated to reach economic objectives. Up today, maybe a little more tomorrow and then pulled back on command. Good luck with that. All experience demonstrates that inflation, when fairly and deliberately started, is hard to control and reverse." Paul Volcker, Former Fed Chairman, June, 2013Indeed! The St. Louis Fed's adjusted Monetary base shot up from $800 Billion in 2009 to $3.2 Trillion in June 2013.".TMonday, June 17, 2013 |
|
 | JW Jones - Options Trading Signal |
| While the Fed Parties, Gold and Oil Have Left the Building |
| Risk assets and financial markets around the world have been supported by
central bank action for several years. Performing financial alchemy on a scale
larger than has been seen in the history of mankind, central banks have hijacked
global financial markets. Mountains of liquidity, artificially low interest
rates, and the creation of future asset bubbles has been their calling card
for the past few years.
Unfortunately, time is starting to run out and these great Keynesian minds
areSaturday, June 15, 2013 |
|
| Chris Powell - GATA |
| Three disastrously false but enduring premises about gold |
| Commentary about gold suffers from a few disastrously false but enduring premises.
One, perpetrated famously two years ago by Federal Reserve Chairman Ben Bernanke, is that central banks hold gold not because it's money but because it is just an "asset" and "tradition":
http://www.youtube.com/watch?v=2Dj9v9s9buk
Bernanke must dearly wish that it were so. But the Bank for International Settlements confirms otherwise, that gold is "a financial instrument":
http://www.gata.org/node/11502
Another diSaturday, June 15, 2013 |
|
|
|
|
|
|
|