Monday, April 22, 2013

Gold Falling to $800?: Gold-CPI Ratio Says Yes

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Switzerland Revises 1934 Banking Act to Allow Bail-in Deposit Confiscations!

The Swiss Financial Market Supervisory Authority (FINMA) has quietly joined the growing parade of western nations who have quietly re-written banking laws to allow depositor bail-ins upon the next banking crisis.
If Switzerland, the once ultimate safe haven for banking deposits across the world is preparing to confiscate depositors funds, there truly is no protection anywhere other than physical gold and silver in your own possession!
In the event that a bank is failing or where its capitalization is no longer adequate, the Swiss Financial Market Supervisory Authority (“FINMA”) may take measures to improve such bank’s financial viability rather than liquidating it. “Loss absorption” and “bail-in” are important instruments to support any such measures. (more)
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Buyers Of Physical Silver - Here Is A Key Chart For You

Today top Citi analyst Tom Fitzpatrick’s team sent King World News four tremendous charts covering the key markets of silver, crude oil, copper and the FTSE Mining Index.  One of the charts is especially important for the silver bulls.  KWN is pleased to share this information with with our global readers.  Below is what top Citi analyst Fitzpatrick’s team had to say in their latest report, along with four powerful charts.

Fitzpatrick’s Team: “The present set up on Brent and Nymex both suggest that lower levels in the oil price are a danger in the weeks ahead.  The spread chart between the two further suggests that Brent may continue to underperform (as it has done recently). 

Copper also looks set for further losses.  That target corresponds closely to the converged 200-month moving average (which we hit in 2008), and rising trend line support off that 2008 low (196.5-198.5).

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Do Charts Say Big Correction Coming?

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Commodity slump ripples run through global economy

Lower airfares, cheaper food and rising profit margins are among the benefits that should flow from tumbling oil and commodity prices - but only after a long lead time.

Having poured $400 billion into commodities over the past decade, many investors are now selling. Their confidence that risky assets could only float higher on a rising tide of cheap central bank money has crumbled as the global economy fails to respond to the stimulus.

Even China, an important buyer of natural resources, is slowing. Inflation, against which gold in particular is a classic hedge, is falling nearly everywhere.

Price pressures will ease further if natural resources keep falling. That is bad news for exporters such as Saudi Arabia and Brazil but good news for net importers. (more)

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How to Be Financially Prepared for a Crisis

Most people don’t have a disaster plan, including the wealthy—who are used to having things go their way. The WSJ’s Deborah Kan and Wei Gu talk about how to be prepared without being paranoid.

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US Weekly Economic Calendar

time (et) report period Actual CONSENSUS
MONDAY, April 22
8:30 am Chicago Fed national activity index March      
10 am Existing home sales March   5.03 mln 4.98 mln
TUESDAY, April 23
9 am Market flash PMI April   -- 54.6
9 am FHFA home price index Feb.   -- 6.5% y-o-y
10 am New home sales March   421,000 411,000
8:30 am Durable goods orders March   -4.0% 5.6%
8:30 am Weekly jobless claims 4/20
351,000 352,000 
FRIDAY, April 26
8:30 am GDP 1Q   3.0% 0.4%
9:55 am Consumer sentiment April
72.3 72.3
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