Category: Economics & Investing

Gold Is Not A Safe Haven? Tell That To People In Indonesia U.S. on ‘unsustainable’ budget course: CBO Fed Says: No Taper. [JWR’s Comment: At this point, tapering from the artificial liquidity of “QE To Infinity” would spike interest rates, send the bond market into a tailspin, cause a derivatives tremor (if not a full tsunami), and crash the real estate market. Ben Bernanke has firmly backed himself into a corner. Ben will wean himself of QE about as quickly as your local crackhead will wean himself from his addiction.] Don’t say you weren’t warned: Mulligan Mint Files For [Chapter …

Investment Banker Alpert: ‘Massive Deflationary Forces’ Lurks Money Versus Currency – Australian Comedian Michael Connell’s View 25 Fast Facts About The Federal Reserve Reader “Subman762” wrote to warn: “There have been some fake Chinese silver plated copies of Northwest Territorial Mint’s Stagecoach silver bar circulating on eBay. The corner radii are a little off and the fakes come in plastic holders that open,while the genuine ones are sealed. I was unfortunate enough to buy some of them and they are very convincing. A scratch test quickly revealed their plated nature and the acid test produced mixed results, due to some …

Billionaire Eric Sprott: Gold is going to $2,400 by next summer Israeli government reportedly mulling Bitcoin tax For a limited time, Northwest Territorial mint is offering their divisible “Stagecoach Silver” coins for as little as 65 cents over spot. G.G. suggested: ‘Follow the Money’: NSA Spies on International Payments Items from The Economatrix: Jobless Claims Fall To 7-Year Low, But … Foreclosure Crisis Drawing To A Close

Fed set to unveil tapering of asset purchases next week. [JWR’s Comment: Don’t be surprised if you hear that this decision is quietly rescinded, just a few weeks from now. Free money is more addictive than crack cocaine. And I’m sure that TPTB realize that any substantive “tapering” would throw the credit market into a tailspin. Merely talking about tapering is much more comfortable to the banksters. This is something akin to your local crackhead talking about gradually giving up his addiction–and just as likely.] G.G. suggested: More Americans Struggle to Afford Food Reader “Dollardog” recommended this: An empty storefront, …

CFPB’s data-mining on consumer credit cards challenged in heated House hearing Gainesville Coins has produced a handy infographic on how to spot circulating silver U.S. coins. (Statistically, your best bet is to search rolls of half dollars. Ask for a few rolls, the next time that you go to your bank.) Items from The Economatrix: US Income Gap Soars To Widest Since “Roaring 20s” August Jobs Report:  Hiring Continues As Unemployment Falls An Alarming Jump In “Job Losers”

Reader Rick D. spotted this over at Zero Hedge: GLD ETF Investors Unable To Get Physical Gold. Here is a key quote: “[Hedge fund manager Grant] Williams warned that the massive and escalating paper claims on physical gold at COMEX warehouses will create an explosion in the price of gold. Paper claims on gold are now at 55 to 1 meaning that there are contracts worth 55 ounces for every one ounce of actual physical gold in the COMEX warehouses.” Singer Joni Mitchell foretells an economic collapse. (Skip forward to 4:20.) Items from The Economatrix: Employers Hoarding Labor: Here’s Why …

Record $175 Billion Due Makes Banks Worst Losers Conservative poll: Internet tax bill unpopular Greek unemployment rises to record 27.9 percent in June Items from The Economatrix: US Fed Expected to Forge Ahead with Modest Cut to QE3 Alcoa, Bank of America, and Hewlett Packard To Be Dropped From The Dow Why The Dow Is Getting A Makevoer And What It Means For The Economy

TANSTAAFL, Butter and Silver A new digital ecology is evolving, and humans are being left behind Items from The Economatrix: The Number Of Private Sector Jobs Fell By 278,000 Last Month But The Economy Is Getting Better? Jobs Figure:  Worse Than The Headline Number COMEX Default Risk As Gold Inventories Plummet 36%

Tam linked to this interesting piece: The 1970s Cold War Era Home built 26 Feet Underground G.G. flagged this: Consumer agency threatens independence of bankruptcy office Also from G.G.: Is Trenton going the way of Detroit? Poverty in New Jersey reaches 52-year high, new report shows Items from The Economatrix: Real Unemployment Rate Rises To 11.4%, Difference Between Reported And Real Data Rises To Record Record 90.5 Million Out Of Labor Force As Half A Million Drop Out In One Month; Labor Force Participation Rate Plunges To 1978 Levels Guggenheim On The US Jobs Growth “Mirage”

Reader B.B. sent this “Economic Recovery” Update: Why Is One-Sixth of U.S. on Food Stamps? Another “Economic Recovery” Update: Almost Half of U.S. Births Covered by Medicaid (Thanks to G.G. for the link.) Items from The Economatrix: Auto Sales Reveal a Recovery That’s Built to Last: AutoNation’s Jackson Jobs Report: The Trend Is More Important Than the Number, Says Saut Quality of August Jobs Added: Absolutely Abysmal

Five hurdles the market must clear this fall From G.G.: Unemployment dips to 7.3 percent, but only 63% of working-age Americans are in labor force Tim J. sent this news from Florida: Three arrested, accused of stealing used cooking oil Items from The Economatrix: US Yields Retreat From 3% After Tame Jobs Data Jobs Market Bumping Along Bottom of Very Deep Hole: Economist Krugman Overboard! Says Economic Policy a ‘Horrifying Failure’

Wall Street Week Ahead: Markets could turn choppy as Fed, Syria risks mount Economy Minister says Italy will dodge political crisis Items from The Economatrix: 169,000 New Jobs Created In August, Bad Downward Revisions; Labor Force Participation Rate Falls U.S. Economy Adds 169,000 Jobs As Unemployment Rate Falls Unemployment And Jobs Not Good Enough To Bring End To Quantitative Easing

Ann Barnhardt talks Syria and economic collapse. Uh-Oh: Chinese Chicken Processors Are Cleared to Ship to U.S. Here is a key quote: “And because the poultry will be processed, it will not require country-of-origin labeling. Nor will consumers eating chicken noodle soup from a can or chicken nuggets in a fast-food restaurant know if the chicken came from Chinese processing plants.” (Thanks to F.G. for the link.) Items from The Economatrix: U.S. Stocks Rise As Payrolls Data Revise Fed Views G20 Says Economy Recovering But No End To Crisis Yet Dollar Holds Near Recent Highs, Upbeat Jobs Data To Help

More details on Mulligan Mint ‘s legal troubles with Republic Metals have emerged in a recent motion before the court, for a writ of attachment. Once again, I don’t recommend placing any orders with Mulligan Mint–at least not until they are free of these potentially show-stopping legal encumbrances. Reader Allen C. sent: Why Incomes Could Fall For the Next 30 Years. When is theft not considered theft? When a national government does it, on a grand scale: Poland reduces public debt through pension funds overhaul. (Thanks to John N. for the link.) Items from The Economatrix: A new contagion is …