Daily Archives: September 17, 2013

Rand Paul: GOP can win upset victories by seeking blue state coalitions

Republican candidates who favor restraint in foreign policy abroad and a renewed commitment to civil liberties at home can build new coalitions in blue states and win upset victories, Sen. Rand Paul told The Daily Caller at a campaign stop in New Jersey Friday. Read more: http://dailycaller.com/2013/09/17/rand-paul-gop-can-win-upset-victories-by-seeking-blue-state-coalitions/#ixzz2fD3w1TCe

The Movement Strikes Back Conservative activists won’t back down on defunding Obamacare. By Robert Costa

“Turn on any political news show, read any magazine, and all they’re talking about is how conservatives want to defund Obamacare,” says Sal Russo, an adviser to Tea Party Express. “The Tea Party has matured from a protest movement to a collection of organized groups that know how to roll up their sleeves and engage…

(Video) Keiser Report: CIA, NSA & Economic Espionage

Max Keiser and Stacy Herbert discuss economic espionage and, perhaps, sabotage by the NSA against the corporations and innovators of competitor nations. In the second half, Max interviews author, journalist and filmmaker, Greg Palast of GregPalast.com, about the Larry Summers’ secret ‘End Game’ memo and the decriminalization of what were once financial crimes.

I Lost A Childhood Hero Today. I gained An Adult Gun-Grabbing Liberal. Goodbye Fonz

Sad day indeed. From Breitbart:  ‘HAPPY DAYS’ STAR POUNCES ON NAVY YARD SHOOTING TO PROMOTE GUN CONTROL by CHRISTIAN TOTO 16 Sep 2013 It’s a sad celebrity ritual. Tragedy strikes somewhere in the U.S., and a star uses Twitter to politicize it for their pet cause. Henry Winkler of Happy Days fame joined the club earlier today. The actor…

KWN: “Major Shortage Of Physical Gold” Has Fed Greatly Concerned

“As the world awaits the Fed’s decision, today a 42-year market veteran told King World News there will be no tapering and that the gold will soar “after the Fed has surprised the market tomorrow.”  Greyerz also warned KWN that to further complicate matters for the Fed, there is a “major shortage of physical gold”…

Think The Economy Is Strong? Really? Look Here, Then go buy gold.

Anyone who can look at the following charts and still say the economy is in even mildly good shape is deluding themselves. These are charts from Eric Pomboy of Meridian Macro Research in an article from KWN entitled,  Here’s Why There Is A War In Gold Near The Key $1,300 Level. They clearly point out why gold…

Zero Hedge: Yet Another “Most Important FOMC Meeting Ever” Begins

Overnight trading started with Asian markets continuing where yesterday’s S&P 500 fizzle ended, wishing Summers could withdraw from Fed running again, as both the Nikkei and SHCOMP were well lower by the close. Perhaps all the easy multiple-expanding, headline-driven money is made, or perhaps economic fundamentals will finally start having to justify a 17x multiple…

Gold’s Near-Term Future: A Game Of Roulette

Rohit Savant of Seeking Alpha today wrote that he believes that gold prices are vulnerable to sharp moves over the next few days as the September 18th FOMC meeting will be the primary driving factor.

Gold prices are vulnerable to sharp moves in either direction over the next few days. The primary driver of prices is expected to be the conclusion of the Federal Open Market Committee (FOMC) meeting on 18 September. The Fed will announce at the end of the meeting, among other things, its plans with regards to its $85 billion monthly bond purchases.

It is now being widely expected in the market that the Fed will announce a reduction in the size of its monthly bond purchases by anywhere between $5 billion to $15 billion.

He believes the price of gold has been dropping in anticipation of tapering by the Fed and the reduced threat of war in Syria. He also sees the potential for gold prices to drop below $1300 before the FOMC meeting.

Based on the popular belief that the Fed will reduce its monthly bond purchases, gold prices already have declined 4.9% from a settlement price of $1,386.40 on 9 September to $1,317.80 on 16 September. Reduced concerns about a U.S. military attack on Syria additionally weighed on gold prices over the past week. Prices could slip lower before the Fed’s 18 September announcement, possibly toward $1,280. A decline in prices below this level should not be ruled out, however, with the next support for prices positioned at $1,260.

Rohit points out that the Sept. 18th announcement by the Fed is not necessarily a negative for the price of gold.

 While many observers assume any announcement by the Fed that it is reducing its bond purchasing program would be negative for gold, this may not be the case. To some extent the idea of the Fed reducing the rate of its bond purchases already is reflected in the sharply lower prices over the past week. If a reduction in bond purchases is announced that matches market expectations, gold prices actually could rise, as the market’s expectations would be met but not exceeded. The stock market, which has been going from strength to strength in recent weeks, is much more vulnerable to a major decline on such a Fed announcement; a weaker stock market in turn could benefit gold, as some of the money that exits the stock market could at least temporarily enter the gold market.

He also believes that June bottom in the price of gold could be tested if the announcement consists of a larger-than-expected reduction in bond purchases, though he downplays this possibility.

If the Fed announces a larger than expected reduction in bond purchases, gold prices would be likely to decline sharply, possibly toward their lows around $1,180 reached in late June. A larger than expected decline in bond purchases is highly unlikely at this time, however.

You can read the entire article at seekingalpha.com



How to Prepare for “The Mother of All Bubbles”

From the Editor: No fewer than 165 stocks on the major exchanges hit new 52-week highs yesterday, which is all the more reason to take notes today… Shah’s been identifying bubbles for decades, ever since his hedge fund days. And now that he uncovers them for individual investors, his readers know firsthand that “bubble watching”…