by GoldCore ZeroHedge.com 06/21/2012 The Russian central bank has again increased its gold reserves by 500,000 ounces. Bank Rossii announced that it had increased gold stocks in its international reserves by 0.5 million troy ounces to 29.3 million troy ounces in May from the end of April. Russia’s gold and foreign exchange reserves declined... »
Archive for June 21st, 2012
Germany Could Pull Out of the Euro Before Spain is Even “Saved”
by Phoenix Capital Research ZeroHedge.com 06/21/2012 As I’ve assessed in earlier pieces, neither the Fed, nor the IMF, nor the EFSF, nor the ECB has the firepower or the political backing to prop up Spain or the EU. This ultimately leaves the ESM, the permanent European Stability Mechanism… which technically doesn’t even exist yet... »
RBC’s Economic Policy Uncertainty Index Is Signaling Bad News For The Markets And The Economy
Sam Ro BusinessInsider.com June 21, 2012 RBC’s Myles Zyblock just published his latest update to the firm’s proprietary economic policy uncertainty index. The index is not quite as high as it was at the height of last year’s debt ceiling fight, but it is on its way up. And it could be headed much... »
Guest Post: The Master Narrative Nobody Dares Admit: Centralization Has Failed
by Charles Hugh Smith ZeroHedge.com 06/21/2012 All centralized systems, open and shadow alike, act as heavy taxes on the society and economy. This is why they cannot compete with the forces of networked decentralization. The primary “news” narrative may be the failure of the euro, but the master narrative is much, much bigger: centralization... »
Welcome to Doomsday, warns Wall Street seer
Andrew Ross Sorkin SMH.com.au June 19, 2012 If you want to be scared, truly terrified, listen to Mark J. Grant. He might be right. For the past two years, Grant, a managing director at a regional investment bank in Florida, has been predicting the bankruptcy of Greece and a cascade of chaos across the... »
WHO DESTROYED THE MIDDLE CLASS – PART 2
James Quinn TheBurningPlatform.com 21st June 2012 n Part 1 of this three part series I addressed where and how the net worth of the middle class was stolen. In Part 2, I will tackle who stole your net worth and in Part 3, why they stole your net worth. Now let’s zero in on... »
Financial TIme Bombs…(Must Read!)
SteveQuayle.com June 21, 2012 Steve, where do I begin? Lets start up with the Eurozone and take it from there. I was the first to mention to you that the Spanish Bailout had already happened before it was even announced that they were going to need more within the week. Well a week has... »
The Market Is Getting Ugly, And Gold Is Getting Hammered…(Buy On The Dips, Muppets!!)
Joe Weisenthal BusinessInsider.com June 21, 2012 Getting hairy! Dow off 94 S&P off about 1% Gold is going down over 1% What’s not helping markets? Bad Philly Fed number. Goldman short call Goldman implication that the Fed is done easing. Chatter about a Moody’s downgrade of world banks. A game of chicken between Greece... »
UN Censorship: Rio Earth Summit text is now secret
Senior official of ‘transparent’ UN admits Rio negotiating text is classified Christopher Monckton Climate Depot June 21, 2012 RIO DE JANEIRO — In a shock move, officially-accredited non-government delegates who had traveled thousands of miles to attend the UN’s Rio+20 sustainable development conference in Brazil have been refused all access to the central negotiating... »
The Euro Bailout Fund (Which Does Not Exist) Is Being Delayed, As Germany Fires Back Against Broke Europe
by Tyler Durden ZeroHedge.com 06/21/2012 Overnight, the WSJ had an interesting article starting with “Italy, France and Spain are trying to take a united stand against Germany in finding new ways to fight the euro-zone debt crisis.” This merely confirms what Greece has been trying to tell us for months: that beggars can be... »