Wednesday, July 08, 2015
Gold and Silver Spot Prices Increasingly Detached from Reality / Commodities / Gold and Silver 2015
By: MoneyMetals
Clint Siegner writes: An insolvent Greece has defaulted. On June 30th, officials missed repayment of billions in lMF loans and declared a banking holiday. Predictably, many Greek citizens responded to the crisis and bought gold coins. So did a lot of people here in the U.S. and around the world. You just wouldn’t know it by looking at spot prices.
The regular disconnect between the futures markets, where spot prices are set, and the physical markets reveals a growing problem. The link between the spot price and physical demand is thin at best. That is why the base price for gold coins in an Athens coin shop can get cheaper, but the all-in cost of buying the coins goes up as the line of buyers grows.
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Wednesday, July 08, 2015
China Stock Market Crash / Trading Freeze / Stock-Markets / Stock Markets 2015
By: Anthony_Cherniawski
China is back in the news as “Greek Hope” for a settlement with the ECB fades the crisis in Europe for the time being. However, the Markets in China are in a panic state and threaten a further breakdown as the Shanghai Index hovers just above 3600.00 after an epic overnight roller coaster ride.
Wednesday, July 08, 2015
Leveraged Chinese Stock Investors Learning Painful Lesson / Stock-Markets / China Stocks
By: GoldCore
- Shanghai Composite has lost over 32% of its value in less than month
- Investors selling on “panic sentiment”
- Persistent intervention by government agencies has failed to support market
- Market has doubled over past year while real economy struggles
- Chinese Market had been boosted by participation of market-illiterate savers
- May morph into wider crisis
Wednesday, July 08, 2015
Europe has a Financial Nuclear Option that Nullifies the Greek Blackmail / Politics / Eurozone Debt Crisis
By: Atlantic_Perspective
Since the Syriza government took power a few months ago, Alexis Tsipras backed (or controlled) by Varoufakis, assumed a defiant position based on the assumption that “We owe Europe so much money that we´ve got you on our hands. If you (Europe) want to see some of that money back, we determine the rules”.
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Wednesday, July 08, 2015
Don't Panic, Nothing Has Really Changed In The Oil Markets / Commodities / Crude Oil
By: OilPrice_Com
Monday's 8% WTI crude decline is setting up a big opportunity for buyers. And there could be more to come. But this is driven by momentum, not by the fundamental conditions in the physical market.Read full article... Read full article...
Wednesday, July 08, 2015
The Three Events That Just Sent Crude Oil Price Sinking… and Why There’s No Need to Panic / Commodities / Crude Oil
By: ...
MoneyMorning.com Dr. Kent Moors writes: Yesterday, three geopolitical crises converged, sending the price of oil sinking.
West Texas Intermediate (WTI), the benchmark for crude set in New York, was down 8%. Dated Brent, the internationally used benchmark set in London, slipped 6%.
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Wednesday, July 08, 2015
China Crash, Can You Imagine The Fed Raising Rates In This World? / Interest-Rates / US Interest Rates
By: John_Rubino
$1.4 trillion of Chinese stocks have stopped trading. Greece is finally imploding. The US trade deficit is widening on falling exports.Copper just fell back to 2009 levels. And safe-haven capital flows are revving up again, with Swiss 10-year bonds once again trading with negative yields.
Wednesday, July 08, 2015
ALERT! U.S. Mint Suspends American Silver Eagle Sales / Commodities / Gold and Silver 2015
By: Michael_J_Kosares
ALERT!
We have received word through an industry source that the U.S. Mint temporarily suspended sales of American Silver Eagles due to strong investor demand. It intends to resume sales in two weeks. The Mint sent out an announcement to this effect earlier today.
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Wednesday, July 08, 2015
GreExit Feta Complete, Stock Market Lindsay Forecast / Stock-Markets / Stock Markets 2015
By: Ed_Carlson
On Sunday Greeks voted on an economic program that no longer exists, in a referendum which was of questionable legality. Grexit seems to be a fait accompli.
In the meantime, regardless of the Greek vote, US markets will continue to do what they do. The Hybrid Lindsay forecast calls for a low early this week followed by a rally to, roughly, July 15. In addition to Middle Section forecasts which are the heart of the "hybrid" model, other methods (Lindsay's and my own) are forecasting a high in this time period.
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Wednesday, July 08, 2015
Budget 2015 - Child Tax Credits to Be CUT, Payments Limited to 2 Children / Politics / UK Tax & Budget
By: Nadeem_Walayat
The newly elected Conservative government is finally about to take grip of Labours benefits culture voter bribes Working and Child Tax Credits black hole that has grown far beyond its initial budget of £2 billion to today's annual monster of £30 billion, that also plays a large part in Britain's immigration crisis as being one of the primary reasons well over one hundred thousand families annually relocate from Eastern Europe to the UK to profit from low paid jobs coupled with generous in work benefits such as tax credits and housing benefit that results in doubling or even tripling of family incomes that typically approaches TEN times similar family incomes of right across Eastern Europe.
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Tuesday, July 07, 2015
Greece Debt Crisis to Trigger Euro-zone Credit Freeze, Expiry of Greek Euro Bank Notes / Stock-Markets / Eurozone Debt Crisis
By: Nadeem_Walayat
According to to Syriza politicians, Tsipras and Varoufakis a NO vote would have delivered the Greek people victory in its negotiation with the Troika with promises of an agreement already on the table and of course the banks would reopen Tuesday. Which just like a string of promises made for the whole of 2015 have proved totally worthless propaganda aimed at convincing a delusional Greek electorate that a paradise of sorts was awaiting them if only they voted NO / committed mass suicide, the reality of which is only slowly starting to dawn on an increasingly panicky Greek people who are experiencing economic collapse accelerate on a daily basis.
Tuesday, July 07, 2015
Greece is Just the First of MANY Countries That Will Be Going Belly-Up / Economics / Global Debt Crisis 2015
By: Graham_Summers
ALL of the so called, “economic recovery” that began in 2009 has been based on the Central Banks’ abilities to rein in the collapse.
The first round of interventions (2007-early 2009) was performed in the name of saving the system. The second round (2010-2012) was done because it was generally believed that the first round hadn’t completed the task of getting the world back to recovery.
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Tuesday, July 07, 2015
Greece Will Lead the West Into a Debt Implosion / Interest-Rates / Global Debt Crisis 2015
By: Graham_Summers
For over 30 years, sovereign nations, particularly in the West have been buying votes by offering social payments in the form of welfare, Medicare, social security, and the like.
When actual bills came due to fund this stuff, Governments quickly discovered that current tax revenues couldn’t cover it (see the image below)… so they issued sovereign debt to make up the difference.
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Tuesday, July 07, 2015
Stock Market Panic Decline May be About to Begin / Stock-Markets / Financial Crash
By: Anthony_Cherniawski
SPX appears to be bouncing from the Broadening Wedge trendline and retesting the neckline of its Head & shoulders formation. The lack of any meaningful bounces here is profound.
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Tuesday, July 07, 2015
SPX Sinking Premarket / Stock-Markets / Stock Markets 2015
By: Anthony_Cherniawski
The retracement appears to be playing out in the futures. The Wave (a) high was 2078.94 on July 2 while the overnight futures appear to have topped out in a 9-wave (c) at 2077.94. It is still unclear whether it will continue to rally after the open, but the futures favor a failurs.
The Premarket is still positive, up .75 while the futures are down -7.80 as I write. The Cycles Model suggests we may still rally today. The Cycles Trading Channels suggest a possible top near 2082.65, which is very close to the Ending Diagonal trendline.
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Tuesday, July 07, 2015
Greece Crisis and the Top Demographic Trends of Our Time / Economics / Demographics
By: Harry_Dent
Greece is not the place to be right now.Its citizens are capped out at $67 a day on the ATM. Its pensioners are pinching pennies. Its doctors are leaving in droves. Its long-term demographics are deplorable, making the chances for recovery more and more abysmal. It’s a nightmare!
I’ve already explained that large-scale debt deleveraging will be one of the triggers that sends the global economy back into crisis. Now that Greece has defaulted on its $1.7 billion IMF payment, they’re looking more and more like the beginning of the end.
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Tuesday, July 07, 2015
The Uber Economy / Economics / Economic Theory
By: Rodney_Johnson
On a recent trip to the D.C. area, I needed a ride to the Baltimore airport. I dreaded calling a cab, since I knew the ride would be over $100 and the cab itself might make the 30-minute ride less than pleasant. So I took the occasion to hail an Uber car.The car arrived at 6:10am, and I had a very pleasant ride to the airport in a recent model Volvo S60.
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Tuesday, July 07, 2015
Marc Faber Warns: “Wake Up, People Of The World! Greece Will Come To You …Very Soon” / Stock-Markets / Eurozone Debt Crisis
By: Bloomberg
- World is “over-indebted”, Mark Faber tells Bloomberg
- “Defaults will follow or they will have to create very high inflation rates”
- Greece will leave EU or Troika will take 50% “haircut”
- Leaving EU may be Greece’s best option
Tuesday, July 07, 2015
Brent Crude Oil Price Breaks out of Bearish Wedge / Commodities / Crude Oil
By: MarketsToday
Brent Crude broke down from a bearish rising wedge formation several weeks ago, trading relatively sideways thereafter, until the tail end of last week when it fell below and closed below $60.97. The 50% retracement at $57.41 was surpassed yesterday to the downside, with the next target being around the 61.8% Fibonacci retracement level at $54.53, followed by the most recent swing low (C) at $52.61.
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Tuesday, July 07, 2015
Current Accounts Become a Salvation for UK Savers / Personal_Finance / Current Accounts
By: MoneyFacts
Rachel Springall, Finance Expert at Moneyfacts.co.uk, comments:
“In the past, current accounts paid less favourable rates of credit interest than standard savings accounts, but today, things couldn’t be more different.
“Savers can earn over three times more interest using a current account compared with the best easy access account on the market.* For this reason, it wouldn’t be surprising if savers flock to these accounts and abandon standard savings accounts altogether.
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