02:20
Jobs report was worse than expected. U.S. labor secretary tries to spin report, she did her best trying to hide behind the charts . Robby speculates that whatever increase in jobs in the manufacturing sector came from mining other than the 38,000 jobs which came from the "hamburger flipper" sector. Construction lost 11,000 jobs, believe it or not, the government lost 202,000 jobs....(these were census workers).
Gold $1206.70
Silver $18.48
Crude $80.92
US Dollar Index 80.38
07:46
The most amazing story this week was a story that got no coverage whatsoever. That China is sending a loud and clear message to the U.S. that they have lost complete faith in their investment portfolio that is holding U.S. treasuries.
After watching the U.S. dollar index drop like a stone in recent weeks, China appears increasing less willing to remain either a silent bystander or a hapless victim. As the largest foreign creditor to the United States with 868 Billion Dollars in Treasury Bonds, China has ample cause for concern.
9:50
>>>Former adviser to Chinese Central Bank delivered a no confidence vote in the safety of U.S. treasuries.<<<
24:13
In light of today's employment report, there is more talk that the FOMC could announce additional steps to ease credit conditions when they meet on August 10. FOMC could announce new stimulus measures, possibly through an asset purchase program.
34:30
As like other times in the past, whenever the economy gets bad...the next plan of action seems to be war.
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