Wednesday, September 19, 2007

Got Gold....... ?

These Charts are speaking for themselves...... Take the broad based gains in mind when you hear gold is only a weak $ play.... It´s much more than this. Trotsky has put up two outstanding posts on this subject. See here & here. I also recommend this post from Mish. The recent action from the Fed, in the UK etc didn´t hurt either (if you are gold bull......)

Diese Charts sprechen eine eindeutige Sprache..... Besonders schön auch hier zu sehen das Gold nicht wie immer behauptet lediglich eine Wette auf den schwachen $ ist. Gold ist wesentlich mehr. Trotsky hat hier für alle die mehr zum Thema Gold wissen möchten 2 extrem lesenswerte und aufschlußreiche Posts verfaßt ( siehe hier & hier ). Zudem ist dieses Post von Mish zu empfehlen. Die panischen Aktionen der Fed, in UK und diversen anderen Notenbanken und Politikern waren aus Sicht eines Goldbullen auch nicht gerade hinderlich......

Hat tip to cgnao

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Anonymous Anonymous said...

I notice that Deutsche Bank is saying profits will take a hit due to the 'credit crunch'. Presumably, they will be less affected by subprime, so I wonder how their results can be, or seem, relatively worse than that of US banks and investment houses, who (just as presumably) have greater exposure to subprime?


12:26 AM  
Blogger jmf said...

Moin Eh,

but they are one of the biggest bond underwriters in the world.....

And they have bought a few subprime lender during the past 18 month....

Maybe they are more honest than some of the US player (level 2&3) but i doubt it.....

I have found this quote from the best housing expert
Mike Morgan

Germany – Deutsche Bank is the name I hear over and over and over. It is like a bad song I can’t get out of my head. Other than Corus, I don’t think a day goes by where someone doesn’t bring up DB. They are number one in foreclosures in Florida. They are a huge lender or advisor or whatever they want to call themselves for Florida developers, builders and condo towers. And you know it’s all over when they throw a party for 500 executives in Barcelona and pay Mick Jagger $5M to sing the swan song. I wasn’t there, but I heard Mick had a fat lady sing as well.

I suggest to read the entire link from him!

This guy was spot on since i followed him 24 month ago.

12:36 AM  
Anonymous Anonymous said...

Robert Kessler is saying now on CNBC that the Fed will have to lower interest rates drastically to make sure enough ARMs can be refinanced in order to break the coming cycle of reset, delinquency, and foreclosure. He mentioned a Fed funds rate of 2%, and made an analogy to the early 1990s, when they cut from around 9% to 3% (will have to look that up).

Anyway, hard to disagree with the diagnosis of the problem.


12:58 AM  
Blogger jmf said...

In this scenario gold will be above $ 1500.....

And they should make sure that they will create a new "cpi" formula to hide the increase in consumer price inflation or alternatively they should control for food and energy prices..... ;-)

The more they act to prevent the housing crash and the recession the worse it gets for the US and the average citizen

I suspect that they will do something not so obvious and out up special programs with Fannie & Freddie ( the bill is already under way....)

1:10 AM  
Blogger jmf said...

Here we go....

US regulators give Fannie, Freddie scope for 20 bln usd sub-prime aid

In addition there is another bill underway ....

More to come.....

1:24 AM  
Blogger jmf said...

About turn! Maybe we should ignore what financial regulators say, and just watch their actions, says the FT’s John Authers in Thursday’s Short View column.
John Authers / FT

Days ago, the Fed was more worried about inflation than anything else, US housing regulators would not let federal agencies buy more mortgages, and the Bank of England was hawkish while other central banks made money easier. All those positions have been reversed, notes Authers

1:56 AM  
Blogger jmf said...

Tim from the “Mess That Greenspan Made” (what a name!) has a must see table

year-over-year comparisons starting in next month's CPI report

“The annual inflation rate goes up by almost a full percent in the next two months if prices remain where they are today”

I have marked the release date in my calender … Could be a good entry point for a short…

8:24 AM  

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