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Notes From Underground: GOLD … All the appearances of a tired BULL?
Yes, the FED released its FOMC statement today and there were no changes to the FED’S POLICY NOW AND FOR THE EXTENDED PERIOD INTO 2014. So here was nothing to upset the markets and as I read the...
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Notes From Underground: A Response To The Berkshire Boys (Putting...
Quick Hitter: The financial markets steadied themselves today after the initial “shock” of yesterday’s European elections. The EUROPEAN DEBT MARKETS showed resolve as both the BTPs and OAT futures...
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Notes From Underground: Kelly’s Heroes or Bob Marley Redemption Song
FINALLY. It seems that the world is waking up to the idea of putting to use the barbarous relic so despised by the financial gurus like Charlie Munger and Warren Buffett. A May 25 BLOOMBERG article by...
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Notes From Underground: Tomorrow, the BOC Will Shine Some Light on Its Plans...
The Bank of Canada has been the most responsible actor on the global financial scene for the last six years. The Canadian banking system for the most part avoided the credit splurge that led to a...
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Notes From Underground: Japan’s BOJ … Seize the Day
Monday night the BOJ will announce its newest and latest effort to stimulate the economy and most importantly try to undertake some genuine measures to weaken the YEN. The Japanese economy is suffering...
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Notes From Underground: Four Central Bank Meetings, and, Oh Yeah, the Fiscal...
The weekend news was rather sparse as the Greeks got their trust fund check from the overlords in Brussels. The Greeks need to be leery of Eurocrats bearing gifts. The Sunday news shows in the U.S....
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Notes From Underground: The Biggest Loser If The Fiscal Cliff is Activated?...
It seems that if the Washington politicos fail to reach a resolution on preventing a fiscal crisis, the biggest loser will be the FED. The U.S. central bank is on record as pushing for continued...
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Notes From Underground: The DREADS of the Redemption Song
It was only a year ago that the PRECIOUS METALS were laboring under the continued selling of GOLD and SILVER as the John Paulson hedge funds were liquidating long positions to meet the huge amount of...
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Notes From Underground: The Fed’s Dilemma
The Fed’s policy has painted itself into a proverbial corner. A ZEROHEDGE piece shows that in the age group of 16-55 there has been a loss of 2.7 million jobs during the previous few years, while in...
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Notes From Underground: Back to Work … Assessing the Significance of the...
The recent Italian elections wound up in a very inconclusive result. In a political lineup of the three Bs–(no Chuck, not Biggio, Berkman and Bagwell)–Bersani, Berlusconi and Beppe, the Italian...
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Notes From Underground: George Soros Gets It Right; Cyprus Follows Britain...
Over the last few years of writing Notes From Underground, I have taken his eminence, George Soros (aka the palindrome) to task for advocating that the German polity surrender its sovereign authority...
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Notes From Underground: Gold, Huh, Yeah, What Is It Good For?
This is the question investors all over the world are asking after the massive selloff on Friday. I have argued that gold was a tired bull for the last six months and that global equities had replaced...
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Notes From Underground: Clearing the Air of Bad Assumptions
Last night’s BLOG attempted to make sense out of all the chatter around the gold action of the last few days, and, more importantly, during the last several months. The points I tried to make were: A...
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Notes From Underground: For That Was Yesterday and Yesterday’s Gone (Chad and...
What ailed the markets yesterday seems to have moved to the back pages and the equity markets recovered most of their losses. Gold and silver staged very tepid rallies considering the massive selling...
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Notes From Underground: Schadenfreude … A German Word But A Global Emotion
It appears that the world is awash with Schadenfreude as analysts and pundits are experiencing great satisfaction and joy in the misery of others. Today the European automakers released sales data for...
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Notes From Underground: Bernanke Channels Eric Burdon, “I’m Just a Soul Whose...
As the markets attempt to recover from the Bernanke press conference and the threats of Chinese forcing an economic slowdown, the spinmeisters are out trying to “TAPER” Chairman Bernanke’s words. It...
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Notes From Underground: Last Week’s Two Biggest Losers
Another day, another week, another month and another quarter. It is hard to believe that we have now reached the halfway mark for 2013 and it has been anything but boring. The next quarter should be...
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Notes From Underground: German PMI Was Lower …. Did NSA Have The Number Early?
It wouldn’t be Notes From Underground if we didn’t ask the most obvious and ridiculous question. It may be the subject of global comedians but the NSA‘s overreach is not a laughing matter for what it...
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Notes From Underground: Good Grief, a Chinese Rating Agency Downgrades U.S. Debt
Can a centrally directed economy spawn a neutral credit rating agency? Readers of NOTES have long been aware that I hold Chinese data releases in the lowest regard. My disdain is based on the inability...
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Notes From Underground: Bored to Tears by the Global Macro News
It’s all good, so say the pundits. The tapering discussions have now moved to the issue of FORWARD GUIDANCE as Chairman Bernanke has maintained that at the zero bound interest rate FG may have more...
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