Sunday, May 31, 2009

Gerald Celente on Fox and Friends

Gold To Stand Against Big Devaluations

threats of devaluation and harder times are to be considered seriously, big players have reasons to acquire more gold, Large gold holdings have a history of their own, China caught in a dollar trap, Russia in an oil trap, America in a debt trap

What we are about to tell you may be the most important information that we have imparted in almost 50 years. something very bad is looming – we don’t know the exact configuration yet, but we think the key is the collapse of the dollar, which will send gold and silver to considerably higher prices. These events could unfold over the next 2 to 4 months. There could be devaluation and default of the US dollar and American debt. You must have at least a 6-month supply of freeze dried and dehydrated foods, a water filer for brackish water, and assault weapons with plenty of ammo and clips. You should put as much of your wealth as you can in gold and silver coins and shares. You should not own any stocks in the stock market except gold and silver shares, you should not own bonds the exception being Canadian government securities, you should not own CDs, cash value life insurance policies and annuities. (more)

The Great Silver Mystery

Let me start off by saying that what I am going to postulate
should not in any way be considered fact...because I am not in possession of
proof. I am merely postulating on where all the mystery silver comes from to
be sold on the physical silver market. Since the early 2000's almost every
serious silver analyst has been pounding the table that there is no above
ground silver available and it is the "buy of a lifetime"".But at the same time, silver prices never seem to live up to their expectation. Of course, anyone with an ounce of common sense can see that the COMEX and LME silver markets are rigged by a powerful cabal of bankers (and others) that seem to be above the law (or more likely, in collusion with the law), but at the end of the day physical silver must be delivered for industrial applications and investors taking possession. So where does it all come from? ....I think I may have stumbled upon the answer! (more)

Mortgage Meltdown, More Pain To Come

T2 Partners has a phenomenal series of charts on the housing crisis stating Why There Is More Pain To Come.

The report is 69 pages almost all of them loaded with charts. I took a liberal selection below, adding plenty of comments, but please take a look at the original article for many additional charts. All charts below are from the article. Click on any chart to see a sharper image. Quotes from the article in italics. My comments are in plain text. (more)

Technically Precious with Merv

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World Financial Report, May 29, 2009

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Commercial Real Estate Defaults Coming

Commercial real estate may soon bulldoze the green shoots.

A coming wave of defaults on loans to developers of condominiums, office buildings and malls could do significant damage to the already deflating economy. That was the overwhelming concern expressed at a public hearing of the Congressional Oversight Panel (COP) on Thursday that focused on corporate and commercial real estate lending.

The COP was set up last fall as part of legislation that gave the Treasury Department permission to spend $700 billion to rescue the nation's ailing financial system. The panel, which is headed by Harvard Law professor Elizabeth Warren, has no legislative or official regulatory powers. It is supposed to monitor the Treasury's spending and report back to Congress as to whether it is being effective in boosting lending and shoring up the financial sector. (more)