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Showing posts with label euro. Show all posts
Showing posts with label euro. Show all posts

Tuesday, April 2, 2013

What is Bitcoin and why is it now over $100 U.S. dollars

On April 1, the digitial currency known as Bitcoin grew its market value to over $100 U.S. dollars, doubling in just the past two weeks.  As European countries like Cyprus, Greece, and Spain look towards the ECB and IMF bailouts, then people are looking towards an alternative currency in the wake of failed confidence in the Euro.

But what exactly is Bitcoin, and how is it different than any central bank backed fiat money?  Those questions were answered in an interview between Tom Woods and Bitinstant's Erik Voorhees a few weeks ago.

Take a look.

Wednesday, October 24, 2012

Nigel Farage blasts the EU for seeking total subjugation of European nations

There seems to be only one voice of truth in the European Union (EU), and that voice as always is British appointee Nigel Farage.  In his continuing crusade against the central bank ploys to overthrow Democratically elected government (Greece and Italy), his latest rant on Oct. 23 against the EU is in response to their overt attempts to subjugate the entirety of Europe, by crucifying nations with a cross of fiat currency.

In one his plainest-speaking rants, Farage provides clarity to his 'peers' on just exactly what the bailouts of Greece, Portugal, Ireland, and soon to be Spain and Italy are actually about - the "total subjugation of the states to a completely undemocratic structure in Brussels." Is it any wonder Samaras and crew - while happy to accept cash and make promises - are pulling away from yet another (this time is the last time) Troika-driven austerity push? "The euro-zone is in a very dark place; economically, socially, and politically." - Zerohedge

Monday, August 20, 2012

Rothschild bets against Euro with his wallet

In the deep dark recesses of conspiracy, or Coast to Coast AM, everyone knows the most powerful family in the world is Rothschild.  So when one of their cartel ponies up cash to make an investment, it is time to pay close attention to what is really happening in the banking system.

Lord Rothschild, an elder member of the dynastic Rothschild banking family, has taken the position against the euro through RIT Capital Partners, the 1.9 billion pound investment trust of which he is executive chairman, according to a report in the British newspaper The Daily Telegraph.

As cynicism that the single currency is on its last legs continues to spread among some euro zone politicians and the public, the influential financier has used the currency as a form of hedge. - CNBC
Of course, a $200 million bet may simply be a ruse to get the herd into following his lead.  The Rothschild empire is rumored to be worth trillions, and pushing a couple hundred million to short the Euro is like giving a $5 tip for a $15 lunch tab.  It's more than most people would give, but not even close to what you could put down.

Saturday, January 7, 2012

As the Euro turns

Not more than a month after the US Federal Reserve tried to backdoor bailout Europe and the Euro by lowering the dollar swap-rates, the western currency has fallen well below its level at the time of the Fed intervention, and is falling towards the dangerous levels of 125.

Because of this inevitable fall, short action in the markets on the Euro is at an all-time, thus increasing the pressure on the Euro Zone, and the central bank's ability to purchase dollars.

The trend of relentless shorting of the Euro currency in the form of non-commercial spec contracts, and as reported by the Commitment of Traders, continues for one more week. As of January 3, EUR shorts rose by another 9%, hitting an unprecedented 138,909 net contracts short - a fresh all time record. What is curious that unlike previously, when an increase in EUR bearishness implicitly meant a increase in USD bullishness, this time that is no longer the case as net spec USD contracts actually declined, and are trading at relatively subdued levels. - Zerohedge

With this increased pressure on the downside, the markets are almost forcing the ECB and the Fed to intervene... and intervene soon.  These same short traders may very quickly reverse course if an whiff of QE3 comes to the forefront.

Friday, January 6, 2012

Gold has bottomed and cleaned out its liabilities from the MF Global scandal

Gold has been steadily climbing since the beginning of 2012, and many of the reasons behind its 20% retraction have finally been flushed out of the markets.  The effects on the futures and gold markets after the MF Global scandal, coupled with the rise in the dollar compared to other world currencies, were the main antagonists forcing gold liquidations across the globe.

In spite of some short-term fixes, there remains no real resolution to the sovereign debt issues in many European countries. We're certainly not spending less money in the US, and now we're bailing out Europe via currency swaps with the European Central Bank. Shouldn't gold be rising?
Yes, but nothing happens in a vacuum. There are some simple explanations as to why gold remains in a funk.
  1. The MF Global bankruptcy, the seventh-largest in US history, forced a high degree of liquidation of commodities futures contracts, including gold. Many institutional investors had to sell whether they wanted to or not. This is similar to why big declines in the stock market can force funds and other large investors to sell some gold to raise cash for margin calls or meet redemption requests.
  2. The dollar has been rising. Money fleeing the Eurozone has to go somewhere, and some of it is heading into US bonds, which means first converting the foreign currency into dollars.
  3. It's tax-loss selling season, something that's also impacting gold stocks. Funds and individual investors are selling underwater positions for tax purposes. Funds also sell their big winners to lock in gains for the year and dress up quarterly reports.
These forces have all acted to depress the gold price.  - Jeff Clark of Casey Research

Courtesy of Casey Research

Now that most of these market forces have receded, gold is slowly moving back up towards $1700.  Additionally, the more Europe and the US continue in crisis, the more the chances of central bank easing become assured.  Once that happens, then the upper reaches of QE3 will move the price of gold to new records, make fools of many analysts who jumped at the chance to claim the gold bull market as over.

Thursday, January 5, 2012

Euro falls below 128 as Italian econic crisis grows

The Euro has dropped more than 2 points over the past two days, to fall to a nominal low of 127.90 as new out of Italy led to the halt of Unicredit in overnight trading.

Following the 4th unhalt of UniCredit, its stock is now down 15% on the day as it scrambles to catch up to the fair value represented yesterday courtesy of the rights offering to be about 43% below the market price. As a result while the robotic decoupling in the US continues, as somehow America is supposed to be able to import and export from and to itself and completely ignore that it has about $3 trillion in European bank exposure, the EURUSD has just dipped to below 1.28 for the first time in over a year. - Zerohedge

In tandem, the dollar has risen more than .78 points to rise towards the 81 barrier on the index, and create a stronger scenario for the Fed to start warming up the printing presses.  US exposure to Euro banks assures that the US central bank will have little choice but to intervene at some time in the future to protect its own banking interests.

Monday, January 2, 2012

Euro celebrates its 10th anniversary while lying in a death bed

On January 1st of 2012, the wonderous fiat currency creation known as the Euro celebrated its 10th anniversary.  While most purely fiat currencies in history have a life cycle of 40 years, this one, because of its lack of national hegemony, appears fated to not see its 11th birthday, or at best, be relegated to the fate of hyperinflation to stave off inevitable devaluation.

However, the EU, like most political organizations, must rely on propoganda to keep itself, and its ill-fated currency in power.  So enjoy the happy happy joy joy presentation of the 10th anniversary of the Euro.

Courtesy of ECBEuro

Thursday, December 29, 2011

Europe has no idea as seen by today's comments from Italy's PM three card Monti

To know for sure that the Euro and Euro Zone are toast, all one has to do is look at the multiple contridictions said last night by Italian PM Mario Monti, and his complete failure to say anything in regards to the future of the debt crisis.

Oh and this...

It is almost hilarious (sad funny) how ignorant these technocrats think the markets are, and how ignorant in fact, they themselves appear to everyone.  It beckons back to a time of Saturday morning cartoons, and Bullwinkle trying to sell is his own three-card Monti.

Wednesday, December 28, 2011

Dollar goes back over 80 on the index as the Euro collapses below 130

In an interesting turn of events this morning in the markets, the Euro out of nowhere suddenly collapsed and fell more than 100 bps to 129.58 while the dollar climbed more than .58 on the index to 80.39.

In pre-market news, the Euro was actually strengthening as Italy was able to manufacture a bond sale on their 6-month instruments, but that appears to have been short-lived as the US markets reversed their course and are selling in the red, while the currency climbs towards 81.

Gold, along with most commodities, has experienced a selloff of nearly $20, and oil is down more than $1 to $100.20.

Thursday, December 8, 2011

Adolph Hitler chimes in about the Euro Zone collapse

It didn't take long for someone to come up with a parody of the failing Eurozone on video, and who best to chime in on the disaster than the once and mighty dictator himself, Adolph Hitler.

I wonder if Angela Merkel can contact the ghost of Hitler and reign some blitzkreig terror on the PIIGS and central bankers who have brought down the new 4th Reich.

Desperate central banks selling gold to protect dollar and Euro

As many investors have noted today, gold was hit hard after news from the Head of the ECB came out that they were lowering borrowing rates for the Euro.  Logically, this should have caused gold to spike upward, which brings in to question why it performed opposite its market nature.

Now we know.  News has surfaced that immediately after the ECB announcment, several central banks dumped gold on the markets, thus manipulating the price downward to protect the dollar and Euro.

It is one thing for conspiracy websites to indicate that the Fed or the global central bank cartel are doing everything in their power to manipulate the price of gold lower. It is something different when the 'reputable', Deutsche Boerse owned Market News does just that.
So much for all those sworn testimony claims that the central bankers do not manipulate the price of gold. - Gold Core via Zerohedge

Let us remember just how bad and how desperate the central banks are regarding the currency debt crisis.  If the MF Global scandal should teach us anything, those who print money will stop and nothing to keep the public in the dark, and the value of gold down to deny the worthlessness of the Euro and the Dollar.

Wednesday, November 23, 2011

Gold and silver prices in Europe climb even as JP Morgan downgrades them in the US

Gold and silver prices rose in Europe overnight, even as prices fell agains the US dollar, and JP Morgan downgrades of precious metals, and all commodities.

Gold is lower in all major currencies today except euros with euro gold having risen 0.25% to EUR 1,263/oz.

The euro came under pressure due to the surprise collapse in new Eurozone industrial orders which led to Germany failing to get bids for 35% of bunds offered. The German 10-year bund yield rose sharply from 1.92% to over 2.06%.

This is one of Germany's worst auctions since the launch of the Euro with the Bundesbank having to pick up nearly 40% of the 6 billion euros on offer.

The German auction in turn led to further weakness in European equity markets. Asian equity indices followed US equities lower after news of a new US bank stress test and then the poor Chinese manufacturing data.

Gold will be supported at these levels as the euro zone debt crisis continues to degenerate with the periphery increasingly affecting the core - leading to contagion. - Zerohedge

More than anything, gold will tell you the value of a fiat currency.  If the dollar gets stronger, as it has over the past month, gold will move down.  But, its indications right now of how bad the Euro and the entire Euro Zone are, should foresee much more room to grow, especially if the ECB is forced into monetization.

Sunday, October 30, 2011

Here it comes... Europe begging the US for a bailout

Now that the Hopium of a Greek bailout is over, and the reality that the troika accomplished very little to save the Euro and Euro Zone, the next little piig(gie) is going beyond the ECB for help, and instead is looking for the US to provide the bailout.

Now it is Portugal's turn. Reuters reports that "Portugal asked Mexico on Saturday to tell fellow G20 members next week that the United States should offer "financial help" to resolve the euro zone sovereign debt crisis, describing it as a "systemic and global" problem, a Portuguese government source said." Of course, the "US" is a clear proxy for "everyone else" - Reuters via Zerohedge
Hey... we knew this was coming.  Now the question will be, will the Congress allow 2008 to comes again, and have taxpayers bailout European banks AND nations, or will the Fed be the one to step on, assuring an inflationary landscape that will create more turmoil than just Occupy Wall Street.

Monday, October 10, 2011

European leadership helping to grow confusion in debt crisis

Over the past month, the European leadership, which includes Merkel, Sarkozy, Trichet, and Junker, have tossed rumors at the market of a bailout, settlement, or plan to deal with the ongoing debt crisis overwhelming the West.

However, it appears that these rumors never become substantiated, and in many cases, contradict one another, which adds to the confusion.  The only real conclusion investors and the public can make of this is:

Europe has no idea at all on how to deal with the crisis, and they are simply trying to kick the can down the road for as long as possible.

Look at these two diametrically opposed articles on Bloomberg yesterday.

Picture courtesy of Zerohedge

The question isn't which article is correct.  The realization is that Sarkozy and Merkel are clueless and should keep their opinions to themselves... for the more they speak, the more Europe burns.

Monday, September 26, 2011

Dont look know... gold rebounds a bit on Euro rumored kick save

It is Monday... do you know where your money went to?  As usual, the makets roared over 150 points in the final hour based on...

You guessed it, ANOTHER EURO RUMOR.

The leaked rumors of the EU's octuple-down CDO^2 bet on themselves was enough to get the buy-the-rumor juices flowing and we rapidly squeezed higher. IG outperformed, ending the day notably tighter than respective equity and HY spreads would expect as even though risk seemed on, we did not see a mad scramble for high beta and HY bonds remained offered in general. Gold and Silver managed a huge bounce off intraday lows ending the day -1.5 to 2% while the dollar sold off into the close (as EUR rallied) to end the day unch from Friday. - Zerohedge
Gold of course closed above $1600 and silver above $30 after being pummeled throughout the day.  What you need to notice is, NOTHING is in stone until the man behind the curtain, in Europe, or the US comes out like Baghdad Bob and says all is well, and an ACTUAL monetary plan is implemented.
Then... the direction gold or silver goes AFTER that REAL (not rumored) move takes place, can help you feasibly make a decision on your metals.

Tuesday, September 13, 2011

The clothes have no markets

Watch and learn the truth of the stock markets my brothers and sisters, for the last two days of trading have proven one thing...

The desperation to hold the line is thick with fear.

On Monday, the markets were looking to close in the red when SUDDENLY, a rumor (that was later deemed false), said that China was coming to save the day and bail out Greece (Euro).

Well, it is the final hour of trading today, and LO AND BEHOLD, a rumor begins that Russia and Brazil are joining in to help save Europe.

Funny, because this rumor came almost immediately after a Brazillian Finance Minister said this:
"Euro is less important in Brazil international reserves", and "Brazil seeks reserve currencies with solid fiscal positions",
oops.... well, it appears once again that trying to sell investors on fundamentals is worthless, and they are left with dropping rumors to save a market ready to head to the downside.