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| RATIOS & INDEXES |
| Gold / Silver | 61.58 |
| Gold / Oil | 14.43 |
| Dowjones / Gold | 11.04 |
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 | Articles related to Europe |  |
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 | Philippe Herlin - GoldBroker |
| The New Great Wall of China : Gold |
| By Philippe Herlin - Researcher in finance / Contributor to Goldbroker.com
When the crisis hit in 2008, China’s reaction was very communist-like : instead of turning to money printing in the hope that credit and investment would pick up ( which is still the dream of Western central banks), both the central power and the regional ones have launched gigantic infrastructure plans while forcing banks to lend them money. Credit, as a result, has effectively picked up : orders from Beijing! While cThursday, May 23, 2013 |
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| Bulllion Vault - Bullion Vault |
| Asian Gold Premiums Hit New Highs as Europe Urged to Start "Agressive QE" |
| London Gold Market ReportBULLION prices rose throughout Asian and early London trade on Wednesday morning, touching $1398 per ounce for the third time this week and recovering 4.4% from Monday's one-month low.Silver rose more steadily, and was capped below $22.80 as energy prices slipped and agricultural commodities held flat.Tuesday's retreat in the gold price today pushedgold barpremiums in Hong Kong to new record highs says Reuters, hitting $6 per ounce over and above international benchmark Wednesday, May 22, 2013 |
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 | Michael Pento - Delta Global Advisors |
| Why Tepper Should Fear the Taper |
| Billionaire hedge fund manager, David Tepper, made news this week when he
emphatically stated that investors have nothing at all to fear regarding the
eventual tapering off of Fed's $85 billion worth of monthly debt monetization.
His assertions were based on the fact that our annual deficit is shrinking
and would thus require less of Bernanke's money printing.
Besides the fact that the deficit for fiscal 2013 will still be about $500
billion higher than it was before the Great RecWednesday, May 22, 2013 |
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 | Mish - Global Economic Analysis |
| Abenomics in Review: Yen, Inflation, Exports, Imports |
| With the Yen collapsing vs. all other currencies, inquiring minds may be wondering how prime minister Shinzo Abe's inflation policy is working out in practice. Let's start with a look at the Yen.
Yen Daily Chart for One Year
In the last year, the Yen has fallen from 124.79 to 97.56. That is a decline of 21.82%. Recall that Abe's policy is an attempt to raise inflation and spur exports.
Japan Still in Deflation
On May 19, Reuters reported Japan's Amari: core core CPI showing signs of turnWednesday, May 22, 2013 |
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 | The Gold Report |
| How George Topping Is Profiting from Copper Price Volatility |
| The Metals Report: George, what do Doctor Copper and other indicators tell you about global economic performance over the medium term?George Topping: You can't take the value of any commodity as a true indicator of physical demand these days. For example, a fortnight ago, copper prices shot up 6% from $3 per pound ($3/lb) to $3.19/lb in a heartbeat. That resulted from financial players pushing the copper price around. It represents what the financial markets think of the world economy. The indicWednesday, May 22, 2013 |
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 | Mark O'Byrne - gold.ie |
| Silver Recoups Sharp Loss And Rises 2% On Record Volume |
| Today’s AM fix was USD 1,378.75, EUR 1,070.21 and GBP 908.39 per ounce.
Yesterday’s AM fix was USD 1,353.75, EUR 1,051.95 and GBP 890.86 per ounce.
Gold climbed $19.40 or 1.43% yesterday to $1,384.30/oz and silver finished 2% higher.
Silver’s recovery yesterday from being 10% lower at one stage to recouping these losses and then rising over 2% was very positive technically. The key reversal is leading some to postulate that we may have seen the bottom or are close to a bottom.
Spot Silver Tuesday, May 21, 2013 |
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| Mish - Global Economic Analysis |
EU On Collision Course With Germany Over Tariffs; Yet Another Reason for UK to Exit EU  |
| The threat by the EU to impose huge tariffs on solar panels from China has run into staunch opposition. The Financial Times reports Germany warns EU solar tariffs would be ‘grave mistake’
Germany’s vice-chancellor and economy minister put Berlin on a collision course with Brussels by warning that imposing anti-dumping duties on solar panels from China would be a “grave mistake”.
Philipp Rösler’s statement came as Germany’s leading manufacturing industry organisation also called for urgent negTuesday, May 21, 2013 |
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 | Chris Ciovacco - Ciovacco Capital Management |
| Will Wednesday's Fed Minutes Spark Sell-Off? |
| Since the S&P 500 made an intraday low of 1,536 on April 18, the widely-followed
stock index has tacked on 130 points and the markets have migrated back to
full-bore risk-on mode.
Wednesday Winddown?
Two key events this Wednesday could give investors an excuse to book some
profits:
Federal Reserve Chairman Ben Bernanke will speak before Congress.
Fed minutes are due to be released.
There appears to be little evidence to suggest Bernanke will drift from his
recent guardedMonday, May 20, 2013 |
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| Mish - Global Economic Analysis |
| Folly of Preserving the Euro at All Costs; Should France Lead Breakup of Euro? |
| The Local, a website with German news in English reports Economists warn against German euro exit.
“Even a believable rumour that Germany would exit the euro would result in a massive capital flight from the countries of southern Europe to Germany.”
The southern European banking system would then collapse, bringing down entire economies with them, Schmieding said.
The consequences for Germany would be severe. The crisis countries could no longer pay back their debt and Germany’s important exSunday, May 19, 2013 |
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 | John Rubino - Dollar Collapse |
 Velocity of Money and the Crack-Up Boom |
| Based on both recent history and mainstream economic theory the past few years
should not have been possible. When you cut interest rates to near-zero, run
deficits of 10% of GDP and buy up every government bond in sight with newly
created currency, you get a boom, end of story. That's just the way capitalism
works.
But this time was different. After four years of QE and ZIRP and all the other
easy-money acronyms, we entered the month of May with Europe in a deepening
recessionSunday, May 19, 2013 |
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| Mish - Global Economic Analysis |
| Hollande Asks ECB to Engage in Japanese Style Currency Debasement |
| French president Francois has had enough of austerity but claims he "cannot do it alone". The Financial Times reports François Hollande goes on ‘offensive’ over stalled EU economy.
François Hollande promised an “offensive” to bring “more growth and less austerity” to Europe as he launched a bid to resurrect his presidency.
Mr Hollande said the first priority of his second-year “offensive” was a four-point plan to “get Europe out of its torpor” – concentrating on combating youth unemployment aSaturday, May 18, 2013 |
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 | Clif Droke |
| When central banks buy stocks |
| The investment story of the year to date is the central bank-led financial market recovery. While everyone is aware of the impact the Fed's $85 billion-a-month asset purchases is having on stocks, few investors realize that central banks are making direct purchases of stocks. The implication of this new development is shocking. Bank of America stated that global central banks have cut rates an incredible 511 times since June 2007 in an effort at re-inflating the global economy. "Most centralSaturday, May 18, 2013 |
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 | Richard Mills - Ahead of the Herd |
| Give It A Doubt |
| Many, many years ago during a lengthy argument with a friend he told me to ‘give it a doubt’ – he meant I was wrong.
The herd is convinced the commodities boom is over. Doom and gloom, the sky is falling, the bears argument sounds convincing - growth has stopped, economies are slowing. Looking at the TSX.V’s performance (most of the world’s minSaturday, May 18, 2013 |
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| The Gold Report |
| Gold and Bitcoin: Currencies of the Future?James Turk |
| The Gold Report: James, from your perspective in Europe, is the region in as bad a financial crisis as it appears in the headlines here in the U.S.?
James Turk: Yes, it really is. However, Europe is a big place, and you have to look at the individual countries one by one to understand the situation. Generally speaking, the Mediterranean countries are in the worst shape. Germany has been in the best shape, although recent economic data indicate it may be falling into a recession again. France isSaturday, May 18, 2013 |
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 | Adam Hamilton - Zealllc |
| SPX Topping Extremes |
| The levitating stock markets continue to seductively entrance traders, powering to new nominal record highs day after day after day. No one believes a meaningful selloff is even possible anymore, thanks to the vast deluge of central-bank monetary inflation. Sheer euphoria has set in as all perception of risk has vanished. This makes these stock markets extraordinarily dangerous, they are truly at topping extremes. As of Wednesday, the flagship S&P 500 stock indSaturday, May 18, 2013 |
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| Mark O'Byrne - gold.ie |
| Gold Wars: U.S. Undermining Iranian Currency By Blocking Gold Imports |
| Today’s AM fix was USD 1,376.75, EUR 1,069.15 and GBP 903.62 per ounce.
Yesterday’s AM fix was USD 1,377.00, EUR 1,070.01 and GBP 904.32 per ounce.
Cross Currency Table – (Bloomberg)
Gold fell $6.00 or -0.43% yesterday to $1,386.70/oz and silver finished +0.71%.
Nothing has changed regarding the positive fundamentals of the physical gold market.
All that has changed is that the price of gold is again lower due to the machinations of technical traders and speculators. Paper gold sales are agaFriday, May 17, 2013 |
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| Mish - Global Economic Analysis |
| How Clueless Are Manufacturing Future Expectations? |
| Month in and month out I see unwarranted optimism in Europe and in the US.
For example, on Thursday I stated "Philly Fed Slips Into Contraction (Again); Current Conditions Recessionary, Future Expectations Far Too Optimistic".
Here is the chart I posted:
That chart got me to wondering "just how wrong are future expectations historically?" The data is available, all one has to do is chart it.
I asked Doug Short at Advisor Perspectives if he could produce a chart of future expectations offseFriday, May 17, 2013 |
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