Bill Cara’s Blog for Sep 5, 2012

CTA Trading Desk Morning Report

[7:00am ET] Good morning, Geoff here.

Stock futures are slightly lower today as the $SPX continues to consolidate in a bullish flag on its daily chart.

As market participants are being lulled to sleep by weeks of sideways action, I’d like to mention that the Bollinger Bands are reflecting this sleepy story.

The Bollinger Bands have not been this tight in years. This type of coiling action can lead to explosive moves when direction is finally known as price breaks out of its consolidation. At this point, I can make a case for the market going either way so until conviction shows itself in price action, standing aside is not a bad plan – just be careful out there.

ggimage01_090512.png

Have a great trading day!


Here are the 7:00am ET snapshots of the latest equity market trading results for Europe, and futures prices plus 5-minute charts of the futures for S&P 500, 30-year US Treasury Bond, US Dollar index, Gold and Crude Oil.

Symbol Name Last Trade Change Related Info
^ATX ATX 2,020.08 6:44AM EDT Up 2.22 (0.11%) Components, Chart, More
^BFX BEL-20 2,336.70 5:25AM EDT Down 10.30 (0.44%) Components, Chart, More
^FCHI CAC 40 3,404.28 6:59AM EDT Up 5.24 (0.15%) Components, Chart, More
^GDAXI DAX 6,975.19 6:45AM EDT Up 42.61 (0.61%) Components, Chart, More
AEX.AS AEX General 329.33 6:45AM EDT Up 0.67 (0.20%) Components, Chart, More
^OSEAX OSE All Share 483.13 6:45AM EDT Down 0.90 (0.19%) Components, Chart, More
^OMXSPI Stockholm General 319.50 6:44AM EDT Up 0.04 (0.01%) Components, Chart, More
^SSMI Swiss Market 6,405.75 6:45AM EDT Up 42.93 (0.67%) Components, Chart, More
^FTSE FTSE 100 5,662.83 6:45AM EDT Down 9.18 (0.16%) Components, Chart, More
FPXAA.PR PX Index 943.20 6:59AM EDT Down 2.10 (0.22%) Chart, More
MICEXINDEXCF.ME MICEX Index 1,429.09 7:00AM EDT Down 8.84 (0.61%) Chart, More
GD.AT Athex Composite Share Price Index 668.03 6:44AM EDT Up 16.26 (2.49%) Chart, More

http://finviz.com/futures.ashx

http://finviz.com/fut_chart.ashx?p=m5&t=ES

http://finviz.com/fut_chart.ashx?p=m5&t=ZB

http://finviz.com/fut_chart.ashx?p=m5&t=DX

http://finviz.com/fut_chart.ashx?p=m5&t=GC

http://finviz.com/fut_chart.ashx?p=m5&t=SI

http://finviz.com/fut_chart.ashx?p=m5&t=CL

The team will check in during the day, reporting in the Discourse when there is a new entry.

Enjoy your day.

  1. 7:00 AM ET MBA Purchase Applications 7:45 AM ET... [#112960]
    By: davefairtex (5216 comments) Go to top ↑
    • 7:00 AM ET MBA Purchase Applications
    • 7:45 AM ET ICSC-Goldman Store Sales
    • 8:30 AM ET Productivity and Costs
    • 8:55 AM ET Redbook
    • 11:30 AM ET 4-Week Bill Auction
  2. 3 in Accumulation Zone 1 in Distribution Zone 4 in Sell... [#112961]
    By: davefairtex (5216 comments) Go to top ↑
    • 3 in Accumulation Zone
    • 1 in Distribution Zone
    • 4 in Sell alert

    Accumulation Zone (8%): Monthly 5, Weekly 4, Daily 17
    Distribution Zone (13%): Monthly 12, Weekly 18, Daily 10

  3. ... [#112963]
    By: Bull Hunter (3552 comments) Go to top ↑
  4. Just wanted to know if anyone out there is planning on... [#112964]
    By: Deron Wagner (77 comments) Go to top ↑

    Just wanted to know if anyone out there is planning on attending the World MoneyShow Shanghai this coming weekend.

    I’ve been invited as a guest speaker, and will be presenting on Sunday, September 9. If anyone happens to be planning on going, please drop me a private message because it would be nice to meet up and say hello to a fellow trader.

    http://www.worldmoneyshow.cn

    Cheers,

    Deron

    • Deron, Attendees at the Cara Community Toronto Conference... [#112969]
      By: Bill Cara (4105 comments) Go to top ↑

      Deron,

      Attendees at the Cara Community Toronto Conference will be looking forward to seeing your live skyped presentation on Thursday afternoon, Sept 27.

      We’ll set up Q&A.

      Stephen kaimu Wellman will be doing the same from Hawaii, but we don’t know which day because he doesn’t have the needed bandwidth at the orchid farm and so will have to set up in a local hotel.

      Should be fun.

      • Hi Bill, Great! I look forward to "meeting" the Cara... [#112970]
        By: Deron Wagner (77 comments) Go to top ↑

        Hi Bill,

        Great! I look forward to “meeting” the Cara Community gang later this month.

        Cheers,

        Deron

  5. AAPL - target boosted at JP Morgan. Shares of AAPL now seen... [#112965]
    By: Bull Hunter (3552 comments) Go to top ↑

    AAPL – target boosted at JP Morgan. Shares of AAPL now seen reaching $770. iPhone and iPad can continue to grow ahead of expectations. Overweight rating.

    AMZN – numbers raised at Jefferies. Shares of AMZN now seen reaching $300. Estimates also raised on superior growth. Buy rating.

  6. Japan may be forced by circumstances to abandon Keynesian... [#112966]
    By: BOB 47 (361 comments) Go to top ↑

    Japan may be forced by circumstances to abandon Keynesian path ! http://tinyurl.com/cm2kcd8

  7. (DE) Germany Chancellor Merkel said to tell lawmakers she... [#112967]
    By: Vadym Graifer (4341 comments) Go to top ↑

    (DE) Germany Chancellor Merkel said to tell lawmakers she opposes unlimited bond purchases at ECB – financial press
    - Said to find idea of ECB buying short maturities as acceptable on a temporary basis.

  8. is the only plausible explanation for this: (EU) Former... [#112968]
    By: Vadym Graifer (4341 comments) Go to top ↑

    is the only plausible explanation for this:

    (EU) Former ECB member Bini Smaghi: Unlimited money to banks is the only real option available

    My official promise to the conference attendees: my session is going to start with words “The world is full of idiots.” Try to deny that after reading the above.

    • An Italian economist with a French education and presently... [#112971]
      By: Les (7233 comments) Go to top ↑

      An Italian economist with a French education and presently occupying a position in Harvard. I understand him completely.

  9. Potential set-up swing trade. I picked the oct 20 calls 1/2... [#112972]
    By: ea32da32 (2362 comments) Go to top ↑

    Potential set-up swing trade. I picked the oct 20 calls 1/2 entry for $1.80 – will add to this if we can move higher on better volume. Lots of room for upside if it does hit the gap… Please DYODD;-)

    Earl

  10. LOL - thanks to Cramer for the... [#112973]
    By: ea32da32 (2362 comments) Go to top ↑

    LOL – thanks to Cramer for the pump;-)

  11. The 5 billion euro 10-year bond auction came up short 1.39... [#112974]
    By: Dr. Strangelove (2004 comments) Go to top ↑

    The 5 billion euro 10-year bond auction came up short 1.39 billion euros this morning. Those low yields are not attracting money flows. Guess that german constitutional court will be compelled to go Weimar next week.

    http://in.reuters.com/article/2012/09/05/germany-a

    http://www.zerohedge.com/news/german-10-year-bond-

    Got silver?

    Interested in n brief history of the silver:gold ratio and PM coinage considerations? Hugo Salinas Price, the Mexican mogul, sums it up here very nicely in July, 2010 (hat tip: Jesse)

    http://www.24hgold.com/english/news-gold-silver-op

  12. ... [#112975]
    By: Grym (5469 comments) Go to top ↑
  13. A few tidbits from a most interesting article... "When the... [#112976]
    By: fireworks (256 comments) Go to top ↑

    A few tidbits from a most interesting article…

    “When the price of silver topped $30 about 10 days ago, demand on this exchange surged. The best information I have is that at least two purchases were made then, each in the range of 5-10 million ounces of silver. The sellers simply did not have that much physical silver immediately available to fulfill these contracts. However, the LBMA insisted that delivery of physical silver must be made on the exchange rather than by possible chicanery that could happen if the contracts were settled outside of the exchange.

    The latest reports I have received is that there is basically no physical silver available for immediate delivery in London. In fact, the estimated time for delivery is further into the future than some traders have ever experienced.”

    http://tinyurl.com/8t52h2q

  14. If you have purchased Bill's new Lessons from the Trader... [#112977]
    By: Jack Senett (438 comments) Go to top ↑

    If you have purchased Bill’s new Lessons from the Trader Wizard ebook and are finding it informative and helpful in your trading activities, please write a review and post it on Amazon. Your help is greatly appreciated.

    Thank you,
    Jack

  15. The following was placed on the blog this AM below the CTA... [#112978]
    By: parkmca (38 comments) Go to top ↑

    The following was placed on the blog this AM below the CTA Trading Desk Post-Close Report. “Commenting on this Community Chat will be automatically closed on September 9, 2012.”

    What is meant by this? Have I missed something? If so, sorry

    • I'll look into it and report back. But, I assure you that... [#112979]
      By: Bill Cara (4105 comments) Go to top ↑

      I’ll look into it and report back.

      But, I assure you that daily comments will continue.

      • ... [#112980]
        By: parkmca (38 comments) Go to top ↑

        Thanks

        • I automatically close comments after a few days to prevent... [#112981]
          By: korvus (248 comments) Go to top ↑

          I automatically close comments after a few days to prevent people writing comments on really old posts (usually spam, but if it has value you should post it where someone will actually see it anyway!). I just told the software to post that notice when I was tweaking the timeframe, so it’s not a new policy only a new notification.

          To be clear, the most recent Community Chat should always accept comments. But if you go back a week, comments should be closed on the old ones.

  16. The bluechip international index is breaking below its... [#112982]
    By: Dr. Strangelove (2004 comments) Go to top ↑

    The bluechip international index is breaking below its 200MA on a daily basis which it has not done since early summer.

    Global slowdown, anyone?

    German high court ruling on EU QE and FOMC meeting Sept 12. Drum roll please …

    Got silver? 53:1 and headed to its historic mean below 20:1 against gold.

    • "German high court ruling on EU QE and FOMC meeting Sept... [#112983]
      By: Vadym Graifer (4341 comments) Go to top ↑

      “German high court ruling on EU QE and FOMC meeting Sept 12″

      I really wish they’d rule it unconstitutional but I doubt they will… as nemo aptly noted, “How would you like to be fingered as the group that puts a dagger in the Eurotopia experiment? IMO, they cave outright or, marble-mouth their way around shooting it down.” May they pleasantly surprise us…

      • I missed this until now: ECB guidance tomorrow. That little... [#112985]
        By: Dr. Strangelove (2004 comments) Go to top ↑

        I missed this until now: ECB guidance tomorrow. That little piss-ant Bob Pisani says if Draghi uses the word ‘unlimited’ and/or ‘sterilized’ that it will goose the markets. Doubt QE announcement tomorrow without German court ruling.

        http://www.cnbc.com/id/48914350

        Those German high court judges could be students of the Weimar hyperinflation just like Bernanke is a student of the Great Depression. I give it a 50/50 chance of an unconstitutional ruling and intensification of the Spanish situation next week.

        • Dr S - I think our discussion of a few days ago has borne... [#112999]
          By: davefairtex (5216 comments) Go to top ↑

          Dr S -

          I think our discussion of a few days ago has borne fruit. Now you’re giving odds on multiple scenarios – this one on the German High Court. Let’s take it a step further. What would you see as the fallout from the unconstitutional ruling?

          Likewise, if the ruling is that it is constitutional, what then?

          Cases:
          1 Constitutional Ruling, Spain agrees to be ruled to some degree by Brussels (Troika?) on budget
          2 Constitutional Ruling, Spanish situation continues downhill
          3 Unconstitutional Ruling, Spanish situation continues downhill

          Case 3 would seem to be an unpleasant outcome for the markets. What do we imagine PM will do with the possibility for eurozone money printing off the table? Same for equity markets, and bonds in the core countries.

          Likewise, case 1 would open the door to a whole lot of 3-year money printing (i mean “bond buying”) by the ECB and also likely a flurry of bank bailouts in Spain. What then for PM, equities, and bonds?

    • $GDOW was up 13% from early June to late-August. (1697 to... [#112984]
      By: BillySundance (1355 comments) Go to top ↑

      $GDOW was up 13% from early June to late-August. (1697 to 1913) Now we have pulled back about 3%(1913 to 1860), still well above the June lows. Looks to me like just reverting back to the bullish trend after a nice move up:

      http://scharts.co/UswvDo

      I’m not sure why you would expect silver to be headed to 20:1 versus gold if we were on the verge of a global slowdown?

      • "I'm not sure why you would expect silver to be headed to... [#112986]
        By: Dr. Strangelove (2004 comments) Go to top ↑

        “I’m not sure why you would expect silver to be headed to 20:1 versus gold if we were on the verge of a global slowdown?”

        How about silver spot distortion cause by the massive JPMorgan Chase short on the Comex and delivery issues at the LBMA as discussed in an early post today?

        Silver is both money and a commodity being consumed, unlike gold. Even slower consumption of the metal will erode supply that’s based on a futures fiction.

        Finally, don’t all trends return to their mean? Even those that are more than 5,000 years old?

        Do you see it differently?

        • I don't see a global slowdown coming. My opinion is that we... [#112987]
          By: BillySundance (1355 comments) Go to top ↑

          I don’t see a global slowdown coming. My opinion is that we are still on the slow, gradual up-swing that has been in place since 2009. I also believe there is a huge disconnect in the financial market recovery since 2009 and the U.S. economy – it’s a paradox where there are exceptional stock market opportunities (largely due to FED accomodation) despite the fact that the baseline economy is only seeing slow growth. There are many opportunities to capitalize on volatility, sector strength/rotation, and superb balance sheets (helped by accomodative Fed) which has made many companies attractive for private equity, M&A, value realization through spinoffs/divestitures.

          As for silver, looking at the charts I do believe the silver:gold ratio is now trending lower, however, I don’t forget the fact that the ratio has already gone to 25:1 and fallen all the way back to around 60:1 in the last couple years.

          http://scharts.co/SkPAKi

          Does it go back to 20:1? It’s entirely possible, but if it does I think it will occur simultaneous to a bullish move in other financial assets, not just because of the constantly regurgitated JPM short position stuff (if this was a reason why hasn’t it happened already) or supposed LBMA issues (as reported in a story written by a coin dealer, ahem).

          I don’t buy the idea of trends always reverting to their means. The silver:gold “trend” began 5000 years ago – when common thought was that the world was flat and North America wasn’t yet discovered. VHS recorders and stonewash jeans had a popular uptrends in the 80/90′s, but there will be no mean reversion. The “mean” is just a reflection of what was thought to be normal at a given point in time. Only a couple years ago everyone was sure that 8:1 was the mean Oil:Gas ratio, now we are above 30:1 – how many traders are left that were betting on mean reversion there? Assumptions that everything will return to their mean are dangerous thoughts for a trader.

          • ... [#112988]
            By: Dr. Strangelove (2004 comments) Go to top ↑
          • Dr S, there you go again thinking what silver MUST do. It's... [#112998]
            By: Les (7233 comments) Go to top ↑

            Dr S, there you go again thinking what silver MUST do. It’s just an asset, but given its historical monetary link it’s likely to be a favoured hard asset if and when big money works out that bonds are a one way trip from this likely top.

            http://jessescrossroadscafe.blogspot.ch/2012/05/de

            Jesse reposted some earlier thoughts on the constitution of a new currency. After all, if the Fed wants to devalue the dollar, the question must be, against what do they devalue, if it’s not gold and silver?

            It’s interesting to note that the United States Postal Service is using a conversion table for $US into SDR’s for international mail insurance, with a 34% haircut for the $US in said conversion. Is that a possible target for dollar devaluation? The figure sounds historically familiar…

            http://www.marketwatch.com/story/why-is-putin-stoc

            Yet if the BRIC’s are attempting to get silver and gold included as a component of a new global money, a currency system which Bill has suggested is vital to rebuilding global trade and economic exchange on a sound footing, then these metals may be held in higher favour in the future.

            Least of all let us not forget the history of “Extraordinary Popular Delusions”. http://www.gutenberg.org/ebooks/24518

            I’ve stopped reading these articles pumped by the metal hacks. They’re simply another vested interest. Price trumps all.

          • ... [#112990]
            By: Grym (5469 comments) Go to top ↑
          • Grym, I do see tangible improvements in the economy... [#112993]
            By: BillySundance (1355 comments) Go to top ↑

            Grym,

            I do see tangible improvements in the economy although many of the fruits so far have been realized on the corporate side. There hasn’t been nearly the relief on the employment side, but there has been general improvement – from 10% unemployment in October 2009 to 8.3% July 2012 and trending downward. Undoubtedly this recovery has been very uneven on a geographical basis, so I don’t mean to ignore that fact. This is readily apparent in areas that saw a large reduction in manufacturing and industrial business in recent decades.

            On the corporate side, the ability for many companies to take advantage of accomodative FED policy is significant though. I see companies all over the place that are refinancing debt accumulated at much higher rates. In the longer run I believe we are setting the stage for an economy that is reinforced by a much clearer view of future costs for U.S. businesses (for capital, labor, energy). I believe that over time this will lead to a continued improvement in the unemployment rate, perhaps down to around 6.5-7% range in a couple years time.

            On the micro level, I see signs of improvement locally. I live in a 150 year old neighborhood on the south side of St. louis. Three years ago my neighborhood was full of foreclosures. I’ve gradually seen an improvement in the last 3 years – there is not much foreclosure activity in my neighborhood at the moment – rents are strong (the house next door is a two flat rental in which units have become available twice in the last 3-years and been rented again almost immediately at modestly higher prices each time). Recently an old Burger King down the street that sat vacant and dilapidated for years was bulldozed and a new structure is being built that will house a new Family Dollar store. A full renovation began a months ago on a 5000-square foot building down the street from me that sat untouched for at least 5-years prior.

            It’s not a popular thought, or one that any politician would try to portray to the public, but the last few years have simply been a large scale refinancing of the entire U.S. economy. Businesses are on much more solid footing financially and have a much clearer outlook on costs (labor,capital,health care) than four years ago.

            Not trying to ruffle any feathers, just call it like I see it, so please no tar and feathering if you don’t see things this way. I am open to all points of view on these matters.

          • ALOHA!! Billy-I see local improvements here in Hilo also... [#112996]
            By: kaimu (3289 comments) Go to top ↑

            ALOHA!!

            Billy-I see local improvements here in Hilo also, but it is always the multi-national corporations. For instance the local Hilo McDonalds just did a renovation. In terms of local and small business I do not see the same optimism or sales revenues.

            My last SOUND MONEY I posted this NFIB chart going back to 1974 and it shows small business clearly is not looking to expand, meaning hire and open new locations etc. In fact according to the chart(red line)it has not been this bad since 1991 and before that back in early 1980s when the Fed Funds Rate was hitting 20%. Now the Fed Funds Rate is below 1% and the small business optimism is at all time lows. QE has not made any difference for small business or jobs. Not only QE but any kind of government or US FED stimulus. Why are small businesses across America so bleak? I think it is a debt issue as well as government regulations. Obamacare is on the horizon and business owners just have no “C” WORD left. Government and monetary authorities insist they have the cure when all along they have been the disease. I think all business owners are astute enough to see that. All it takes is starting a business to understand. There is no trust in bureaucracy left …

            LINK: http://www.nfib.com/Portals/0/PDF/AllUsers/researc

            Another point is … Where would SafeWay and restaurants and 7-11 be without EBT? There is also a changing of the guard. The WW2 generation that saved is dying off and the baby-boomers who spend have a new nest egg to tap. More kick-the-can thinking!

            I see danger ahead for the US economy and the global economy since the rest of the world’s manufacturers depend heavily on US consumers. I still see “Sequester” having an effect combined with the Debt Ceiling issue. I am very cautious of the future due to hugely excessive debt issues on all government levels that are never taken seriously as well as small business outlook.

          • ... [#113009]
            By: Grym (5469 comments) Go to top ↑
  17. KC network 20x as fast what telco/cable carriers currently... [#112989]
    By: westcoaster (1130 comments) Go to top ↑

    KC network 20x as fast what telco/cable carriers currently offer! Or if you want the old speed, it’s free, (recognize the business model?)
    http://www.businessweek.com/articles/2012-07-26/go
    Hat tip ZH. Good video well down page cf android/AAPL
    http://boombustblog.com/blog/item/6162-many-dont-u

    FD, am long GOOG

    • Goog is playing the long game and is actually doing a great... [#112992]
      By: NYUGrad (4750 comments) Go to top ↑

      Goog is playing the long game and is actually doing a great job.

      but the stock trades horribly if u look longer term

  18. Just posted at KWN. Citi's Fitzpatrick on the... [#112991]
    By: Dr. Strangelove (2004 comments) Go to top ↑

    Just posted at KWN. Citi’s Fitzpatrick on the ratio:

    http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/9/5_Expect_$2,500_Gold_%26_Silver_To_Smash_All-Time_Highs.html

    As for going back to the mean as a dangerous trading tool, I see it as a more bullish call for silver over gold and Fitzpatrick offers up some interesting techincal support for this.

  19. Argex hires a chief engineer to oversee the construction of... [#112994]
    By: BOB 47 (361 comments) Go to top ↑

    Argex hires a chief engineer to oversee the construction of a plant , capable of producing 50,000 tons a year . http://howardgroupinsightnewsletter.blogspot.ca/20

  20. $GOLD hit $1700.90 at 10pm ET and has been looking... [#112995]
    By: Bill Cara (4105 comments) Go to top ↑

    $GOLD hit $1700.90 at 10pm ET and has been looking good.

    • Not just gold - silver is up 60 cents to 32.80. Looking at... [#113000]
      By: davefairtex (5216 comments) Go to top ↑

      Not just gold – silver is up 60 cents to 32.80. Looking at RSI values for the last silver run, I’m reminded just how extended things can get before a pullback. In late 2010 silver went for 5 months with RSI > 70 on the weekly chart, and again for 3 months in early 2011. This happened the last time the fed printed money. And we haven’t even started with the money printing yet.

    • Anyone noticed that in Europe, $GOLD is back to previous... [#113001]
      By: Les (7233 comments) Go to top ↑

      Anyone noticed that in Europe, $GOLD is back to previous highs and about to test resistance? See attached.

      • Funny you should mention that, I noticed that nice saucer... [#113002]
        By: davefairtex (5216 comments) Go to top ↑

        Funny you should mention that, I noticed that nice saucer pattern earlier but didn’t post on it. If $GOLD:$XEU breaks above 13.50 I think we could see some excitement in european trading.

        It looks like PM is trading up in anticipation of money printing, as opposed to Armstrong’s “safe haven” trade. If that German constitutional court rules against printing, it could get really ugly.

        EDIT: it already broke out – gold @ 1707 / eur @ 126.30 = 13.515

        • ... [#113007]
          By: Les (7233 comments) Go to top ↑
          • ALOHA!! On September 6, 2011, the central bank imposed a... [#113008]
            By: kaimu (3289 comments) Go to top ↑

            ALOHA!!

            On September 6, 2011, the central bank imposed a SFr1.20 exchange rate floor against the euro to halt the rapid rise of the franc, which was threatening price stability and exporters. The SNB has recently been forced to buy up vast quantities of euros to defend its policy.

            Okay I have to ask what the unemployment rate is in Switzerland? The country has 7.3 million people. There’s more than that just in Los Angeles! What is it 4%? Its low I know that. In fact it is lower than the US FED stated target rate of 6%.

            Such a low unemployment gives Swiss politicians a lot more maneuvering room in terms of “price stability and exporters”. Obviously if exports suffer then employment suffers. Aside from the exporters the rest of the country would want a higher Swissie. Makes imports cheap and foreign travel prosperous!

            I am not that familiar with Swiss manufacturing. I know Nestle, AB&B and a few others but mostly Swiss banks have large employee pools. Does an appreciating Swissie hurt banks? What do Swiss banks export? Well, the US Dept of Justice wants it to STOP! HA!! Why so much reserves for so few citizens? Who wants to be the next reserve currency?

      • ALOHA!! On a trend basis looking at a ten year chart the... [#113004]
        By: kaimu (3289 comments) Go to top ↑

        ALOHA!!

        On a trend basis looking at a ten year chart the price of gold in euros is up 310% and the price of gold in USD is up 428%. The following is a list of currencies whose ten year trend is higher than a USD …

        - Russian Ruble up 438%
        - Mexican Peso up 596%
        - Indian Rupee up 507%

        The UK Pound comes close up 417%. Still all currencies when compared to the price of gold have suffered substantial devaluation.

        Really the Australian AUD has held up best against gold only up 183% on a ten year chart. Note the RBA has kept rates much higher than all other developed countries over the past ten years.

        With Chinese and Japanese debt based economic woes starting to brew there would be more of an Asian migration out of the Yen carry trade or at least gold hedging.

        Competitive currency devaluation and global deficit spending moving across the warm low interest rate currents have combined into a perfect economic hurricane! Why would any hugely indebted treasury want higher rates now? Are either of the two monopoly US Presidential Candidates campaigning for higher interest rates? Are interest rates even a plank in either party platforms? Doubtful at best! No need to stir voter emotions with monetary C WORD issues, best stick to easy issues like gay marriage. Politicians seem to get a lot political mileage out of gay stuff! Mileage meaning votes … It’s all about votes!

  21. Nassim Haramein - Sacred Geometry & Unified Fields or:... [#112997]
    By: MtnGntx (241 comments) Go to top ↑

    Nassim Haramein – Sacred Geometry & Unified Fields
    or: How I Learned to Stop Worrying and Love Zero Point Energy

    http://tinyurl.com/8uhjblf

    ;0}

  22. ALOHA!! Canadian civil unrest? Is that possible? Oh... [#113003]
    By: kaimu (3289 comments) Go to top ↑

    ALOHA!!

    Canadian civil unrest? Is that possible? Oh, Canada …

    I have a number of Canadian friends who have been participating in this movement directly and/or following it closely and posting on Facebook.

    These Quebec student protests are being labeled the “Maple Spring” in reference to the Arab Spring. I thought this was a great article on how hidden agendas hijack movements that emanate from meager beginnings. In this instance Quebec students protesting higher fees.

    LINK: http://youarebeingmanipulated.com/bootleggers-bapt

    What are the opinions of Canadians here on this subject?

    It is doubtful there are ever any truly pure movements. My experience with Vietnam and Tea Party movements and of course Occupy WS is that they tend to be like layers of MLM in reverse, MLM-multi-level-marketing. In other words those groups who benefit most are the ones who join the movement last, not the ones who start it.

    Many interesting articles on “manipulation” at this website. Mostly political but that bleeds into markets eventually. Masks of illusion …