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| RATIOS & INDEXES |
| Gold / Silver | 63.39 |
| Gold / Oil | 13.88 |
| Dowjones / Gold | 11.26 |
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 | Articles related to China |  |
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 | Chris Powell - GATA |
| Embry notes media clamor against gold, switch by bullion banks, Chinese demand |
| Sprott Asset Management's John Embry tells King World News today that financial media reporting against gold has increased enormously but is unlikely to defeat the repositioning of the bullion banks to the long side and continued huge demand for real metal from China. An excerpt from the interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/19_Ba...Wednesday, June 19, 2013 |
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 | 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 |
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 | Marin Katusa - Casey Research |
 The Global Race for Shale Development Is On  |
| Guess who the US Energy Information Agency (EIA) says has 430% more proven gas reserves than the US?
Guess who has twice as much as the US in shale gas technically recoverable?
Guess who has over twice as much proven oil reserves as the US?
The EIA recently published a 730-page report which assesses the shale formations of 41 countries. The global race for shale development has started. Countries that are not now known for their oil and gas production are showing much shale oil and gas proWednesday, June 19, 2013 |
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| 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 |
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 | Stewart Thomson - Graceland Update |
| Gold Bull Mkt VS Gold Bull Era |
| Graceland Updates 1.I'm getting a lot of emails to do more macro analysis of the gold market, and the time is ripe to do so.2."We need to continue to push for long-term capital inflows and therefore the FDI policy has to undergo a revamp..We need to move in this direction quickly and it needs to be a paradigm shift in how we look at FDI." - Arvind Mayaram, Economic Affairs Secretary of India, June 17, 2013, Bloomberg News.3.FDI refers to "foreign direct investment in India".The Indian governmentTuesday, June 18, 2013 |
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 | 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 |
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| Mish - Global Economic Analysis |
| Epic Glut of Graduates Depresses Wages; Fake Job Offers Taint Hiring Statistics |
| In response to Pettis on China, Europe, Japan: Bad News for Those Looking for Growth reader "BC" passed on a series of articles about jobs and wages, and matching up graduates with the skills companies seek.
The articles are all in regards to China. Change the names and faces, and the stories sound to me like things you could easily read here.
The problems are universal: too many graduates, trained in fields where there are no jobs or few openings.
Job Prospects for China's Grads Bleak
BusTuesday, June 18, 2013 |
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| Ben Traynor - Bullion Vault |
| Gold, Silver Drift Lower, Gold Market "Has Seen Paradigm Shift in Investor Attitudes" Since April |
| London Gold Market ReportGOLD drifted to a one-week low below $1380 an ounce Tuesday morning, as silver dipped below $21.80 an ounce, with stocks and commodities broadly flat on the day ahead of tomorrow's US Federal Reserve decision, with analysts speculating on whether the Fed will give details of when and how it might slow down its quantitative easing program."The outlook for the gold price remains negative from a technical perspective," says Karen Jones, head of FICC technical analysis at CoTuesday, June 18, 2013 |
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 | Jeffrey Nichols - Nichols on Gold |
 Suffering Gold |
| Gold continues to suffer under a cloud of bearish expectations. Its price has been trending lower for some 20 months now - and, at recent lows, it is off some 30 percent from the September 2011 all-time high of $1924.
A growing number of investors, analysts, and journalists are already writing obituaries for the decade-long bull market and foresee only a grim future for the yellow metal. These naysayers, most prominently economist Nouriel Roubini who gained some renown for predicting the finanTuesday, June 18, 2013 |
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 | 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 |
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| Mish - Global Economic Analysis |
| Pettis on China, Europe, Japan: Bad News for Those Looking for Growth |
| Via email here is another update from Michael Pettis at China Financial Markets. What follows is from Michael Pettis.
Special points
Europe is attempting to resolve domestic imbalances by forcing them onto their trade partners. This will end badly, especially for Germany.
China’s new lending, exports, investment, housing starts and GDP growth all continued to slow in May. Many of the numbers came in well below market expectations.
This is par for the course. Although we may from time to timeTuesday, June 18, 2013 |
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| Oilprice.com - oilprice.com |
| India's Energy Ties with Iran Unsettle Washington |
| India's relentless search for hydrocarbons to fuel its booming economy has
managed the rather neat diplomatic trick of annoying Washington, delighting
Tehran and intriguing Baghdad, all the while leaving the Indian Treasury fretting
about how to pay for its oil imports, given tightening sanctions on fiscal
dealings with Iran.
On 7 June the US State Department reluctantly announced that it was
renewing India's six-month waivers for implementing sanctions against
Iran, along with sMonday, June 17, 2013 |
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 | James Howard Kunstler |
 Paths of Folly |
| Societies periodically go insane. Fallacious memes sweep through a frightened and confused populace and bad things happen, bad choices get made. Two bad ideas in particular infect the American thought-o-sphere these days: 1) that non-cheap oil can keep all the rackets of consumerism going; 2) that we can offset all the quandaries of non-cheap oil with accounting fraud and debt creation.Monday, June 17, 2013 |
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| Ben Traynor - Bullion Vault |
| FOMC "The Big Driver for Precious metals this Week", Wall Street Betting Against Silver Price |
| London Gold Market ReportTHE U.S. DOLLAR gold price drifted back below $1390 an ounce Monday morning in London, but remained well within its trading range of the last few weeks, as European stock markets edged higher, with analysts citing Wednesday's Federal Open Market Committee decision on US monetary policy as "the big driver" for this week."On the whole, the market hopes for insightful comments in the course of the next Fed policy meeting...which will affect gold's further development as welMonday, June 17, 2013 |
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 | Julian D. W. Phillips - Gold Forecaster |
| Gold & Silver Market Morning |
| Gold Today -New York closed at $1,386.00 on Friday. Asia held the price at that level as did London, where it was Fixed at $1,386.00 and at up $6.25 and in the euro at ?1,035.537 down ?3.50 while the euro was slightly stronger against the dollar at ?1: $1.3345. Ahead of New York's opening gold stood at $1,381.00 and in the euro at ?1,035.58. Silver Today - Silver closed at $21.75, up 2 cents in New York on Friday. Ahead of New York's opening silver stood higher at $21.75.Gold (very short-term)WeMonday, June 17, 2013 |
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 | 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 |
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 | Mac Slavo - ShtfPlan |
Gold Buying Panic In China: 10,000 People Wait In Line For Their Chance to Own Precious  |
| One day in the near future Americans will finally realize that their money is being devalued at a rapid pace. For the time being the price increases are somewhat muted by official announcements of inflation being under control at around 2% and purported economic recovery on the horizon. The Federal Reserve and the US government are doing everything in their power to maintain a perception of stability.
But what happens when all the machinations are proven to be fruitless during the next stock marMonday, June 17, 2013 |
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 | Jeffrey Lewis |
The Long Silver Ranger  |
| Could China be the big silver long? Who else has deep enough pockets to endure the recent price weakness and the increased margin requirements that typically follow?Nevertheless, the Chinese willingness to accept fungible dollars instead of precious metal seems to be waning. They are quietly accumulating metals..Perhaps this explains why the silver open interest has remained stubbornly high throughout the most egregious washouts the silver market has seen in years.Normally this has the effect ofMonday, June 17, 2013 |
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| 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 |
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