Loading ...There are literally No safe havens today…not gold…not U.S. treasuries
the 10 yr t-note is DOWN 18 bps….even the utility stocks are down—all currencies are down save the spot/cash $ which is up a mere 74 bps…
http://futures.tradingcharts.com/marketquotes/DX.html
there is an eerie calm on CNBC & Fox Biz news…the entire world awaits the FED announcement at 2pm wednesday…how absurd that “it” has come to that…The FED will be hard pressed to get to hawkish-especially after today
I expect a strong reversal in gold after the FED announcement–and I will be watching gold futures from about the 1:50 pm time to see if there is any front running like there was 2 months ago..
Stocks jump PM’s dumped
From ZeroHedge. To enlarge click the chart.
Le Maitre=Sir James Kunstler today
Clusterfuck Nation – Blog December 15, 2014
Crash-O-Matic Finance
May not sound like much? I guess when you hunker down in the lab with the old slide rule and do the math, wow! Those numbers really pop!
This, of course, is the representative thinking out there. But then, these are the very same people who have carried pompoms and megaphones for “the shale revolution” the past couple of years. Being finance professionals they apparently failed to notice the financial side of the business, for instance the fact that so much of the day-to-day shale operation was being run on junk bond financing.
It all seemed to work so well in the eerie matrix of zero interest rate policy (ZIRP) where investors desperate for “yield” — i.e. some return more-than-zilch on their money — ended up in the bond market’s junkyard. These investors, by the way, were the big institutional ones, the pension funds, the insurance companies, the mixed bond smorgasbord funds. They were getting killed on ZIRP. In the good old days of the late 20th century, before Federal Reserve omnipotence, they could depend on a regular annual interest rate churn of between 5 and 10 percent and do what they had do — write pension checks, pay insurance claims, and pay clients, with a little left over for company salaries.
ZIRP ruined all that. In fact, ZIRP destroyed the most fundamental index in the financial universe: the true cost of borrowing money. In doing so, it twerked and torqued the concept of “risk” so badly that risk no longer had any meaning. In “risk-on” financial weather, there was no longer any risk. Imagine that? It also destroyed the entire relationship between borrowed money and the cost-structure of the endeavors it was borrowed for. Take shale oil, for instance.
The fundamental limiting factor for shale oil was that the wells were only good for about two years, and then they were pretty much shot. So, if you were in that business, and held a bunch of leases, you had to constantly drill and re-drill and then drill some more just to keep production up. The drilling cost between $6 and $12-million per well. What happened the past seven years is that the drillers and their playmates on Wall Street hyped the hoo-hah out of the business — it was a shale revolution! In a few short years they drilled to beat the band and the results seemed so impressive that investment money poured into the sector like honey, so they drilled some more. It was going to save the American way of life. We were going to be “energy independent,” the “new Saudi America.” We would be able to drive to Wal-Mart forever!
Be careful what you wish for, the old saw goes. The shale oil “miracle” was an epochal stunt. They goosed so much oil out of the ground in a short period of time that they killed the goose — demand for oil at a price that made it worth drilling for. Now, much of the junk financing will default, and the result of that is no more junk financing for a long, long time, meaning that a lot of planned wells will not be drilled and completed, meaning that the current crop of short-lived wells will crap out in the 24 months ahead, and production will not be replaced by new wells, which will not be there. When and if the riggers get busy again in the Bakken and the Eagle Ford, you can be sure it will be at a much lower level of activity than the glorious year 2014. Of course, it remains to be seen how much financial illness the spoiled junk bond paper will spread through the derivatives markets, not to mention the boring old stock and bond markets and the big banks that traffic there. You can only fool reality so long. Eventually risk-on returns for real and swipes the ground with its mighty tail.
Finance was the lifeblood of the global economy and scam after scam left it riddled with wormholes of fragility. That fragility has been waiting to express itself and the ability of bank wizards to squelch and conceal it may have come to an end. There will be no quick cure for cratering oil prices and the damage it will wreak among the shale drillers. Does that sound like much?
I think it’s inevitable that the wealthy try to control the Earth. It’s probably always been so and probably always will.
It’s also inevitable that governments try to control their citizens and increase and increase that control. JMO
Richard640 @ 13:39
Channeling Edgar Allan Poe?
Maddog-yeah….looks that way…where are our heroes? Those staunch longs who have bought the 1130-40 area the past
few months….in the heat of battle, have they fallen by the wayside?…next “event” for gold will be after the FED meeting…until then all leaves are cancelled …we are on full battle alert…
JNUG about to go under 2 bucks-this is an epic wipe-out for PM shares/ETFs-especially in relation to gold futures–most are under the 2008 price when gold was $800
so what force is leaning on Silver today
some big fat bankers trying to kill the party before it starts. Keep plunging it boyz, buymore!
R640
Good call, they have indeed put an end to any of Gold bull shit.
Something inchoate…something very dire…is happening today…something very ugly is trying to peck its
way out of the Black Swan Egg…how do I know? Cause…if all was jake with the U.S. [and world] financial mkts , U.S. stocks would shoot rite back up and exceed their highs…..
Beware! EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE-VIL DAYS ARE ABOUT TO SETTLE UPON US!
When I walked out of the house today I saw two eagles fighting in the sky!
A report from the Congo said that diurnal creatures were out last night and nocturnal creatures were roaming about in broad daylight!
On the farm next to mine, yesterday, farmer George Nothnagle reported that his prize cow gave birth to a Red Hefer with two heads…
Snakes search the skies for flying rabbits…monkeys draft jackals…I grieve to futures a fishy grin…
The cackling hag screeches her warning…her stumps flash on gypsy caravan…
The swinging lantern objects her leaving home..she’s a phantom to crystal…to ears she’s hairy batter
the moon garments a cloud…
Auandag…12.22
You are probably right… though… The End will probably tiptoe, up to our back (without us knowing it)… and then tap us on the sholder.
Best,
NEMO
Deception in the Skies
For all us ‘mentally ill’ patients here…
Unfortunately this phenomenon is often described using the psyops captured and subverted term ‘chemtrails’………
Something just move G and S down!
and coincidentally pushed the DJIA up over 120 though still negative. Go PPT you scum!
DON’T LISTEN TO THE MASS MEDIA>>>The Ruble is getting “crushed” Is Good For Russia
And bad for Russia’s trading partners. Russia’s exports will be cheaper to buy. Russia’s IMPORTS will get very expensive, and create great opportunities for Russian citizens.
Choose your Country or leave !
Any man that accepts the Generosity of a Host Country that takes him in and he then goes to war supporting an old home country for ANY reason religious or not is guilty of treason to his adopted country ..it shows no allegiance to the Country that took him in. Their Passports should be revoked and re entry barred they make themselves Alien to the Host Country. You cant serve two Masters !
If you are Australian you should be nothing else 100 % …Same for Any American that goes to fight in Syria or anywhere else his Government didn’t send him to he should be barred from re-Entry and Passports revoked ! It demonstrated where his allegiance is by his own choice .
No country can survive with free lance soldiers out of control !
My grandfather came to America in 1906 and said he was an American now ! He went to night school to learn English ,sent for his two brothers and told then to do the same learn English and be nothing but American.I agree totality with this commitment !
The Ruble is getting crushed
There not just poking the bear with a stick, they are shoving a broom up his azz. This will not end well!
re Bankers Want Your Savings As Part of Their Next Bail-Out
The bottom line is, the government is preparing to legitimize the theft of our savings in order to prop up irresponsible and unscrupulous bankers. In finance these deposits are referred to as unsecured debt.
Comment:
How can the banks use or take deposit money if its GONE? Not there, loaned out?
R640
They’ve managed to get the PM shares linked to the SM again. As soon as the SM swoons, PM shares get hit, even though Au/Ag get bid.
But there is no reciprical move when the SM rallys, it’s horribly clever and never lets up.
Re INDICES re DOLLAR
The Dow ALMOST broke 18,000 Friday Dec 5th. (17,062 now) Lots of hoopla went on that Friday too, confirming a top.
The Dopey/Dollar also topped off that day. Euro and all other currencies bottomed on that day. So far so good.
Indicies:
http://finviz.com/futures_charts.ashx?t=INDICES&p=d1
Dopy/dollar:
http://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1
Stop Making excuses for two Faced Holy Men.
None of it is ” isolated incidence” the community leaders tolerate this among themselves then when something blows up they say its “isolated individual “. None of it is isolated when radicals take charge and their ethnic brothers stay silent ..Don’t expect anything from non Muslims but ZERO Tolerance from now on ! Look at his History !
Why did they wait for a Crisis to Act.? Look at his History !
Sydney siege: Man behind stand-off named as Iranian cleric Man Haron Monis
Updated
Iranian cleric Man Haron Monis is the man police believe is behind the siege at the Lindt Chocolat Cafe in Sydney’s Martin Place.
Monis, who was granted political asylum in Australia, is currently on bail for a string of violent offences, including being an accessory to the murder of his ex-wife.
He is also facing more than 40 sexual and indecent assault charges and has a conviction for sending offensive letters to the families of deceased Australian soldiers.
Police were negotiating with Monis for a large part of Monday prior to officers being seen to storm the building.
He had entered the cafe at about 9:45am (AEDT) and was holding an unknown number of staff and customers inside throughout the day.
His former lawyer, Manny Conditsis, described Monis as an isolated figure who he believes was probably acting alone.
“His ideology is just so strong and so powerful that it clouds his vision for common sense and objectiveness,” he said.
FYI re Sandstorm Gold
part:
Sandstorm may purchase up to 5,882,879 of its common shares, representing 5% of the Company’s issued and outstanding common shares of 117,657,587 as of December 11, 2014.
Daily purchases will not exceed 76,945 common shares, subject to the Company’s ability to make block purchases under the rules of the TSX. No share purchases have been made by the Company pursuant in the last twelve months.
The NCIB provides Sandstorm with the option to purchase the Company’s common shares from time to time when Sandstorm’s management believes that the common shares are undervalued by the market.
http://www.heraldonline.com/2014/12/15/6624280/sandstorm-gold-announces-normal.html
Crude is the alibi for the stock mkt reversal
TODAY’S MARKETS
U.S. Stocks Turn Lower as Oil Resumes its Downward Slide
Equity Markets Fell Sharply Last Week Along With Oil Prices
By DAN STRUMPF
Updated Dec. 15, 2014 11:15 a.m. ET
Stocks turned lower midmorning, reversing their early gains, as investors were rattled by another decline in oil prices.