GOLD CENTURY

[SAMIA]

Thomas Kaplan of Tigris Financial is probably world's ultimate gold bull.

Even George Soros and John Paulson take notes from him, following him into certain investments.

He's virtually gone all-in on the yellow metal.

Read more: http://www.businessinsider.com/thomas-kaplan-ultimate-gold-bull-2010-5#ixzz0okkO01bT

[SAMIA]

10 Gold Charts Commercial Investment Firms Don't Want Their Clients to See

















http://www.zerohedge.com/article/10-gold-charts-commercial-investment-firms-dont-want-their-clients-see

[SAMIA]

"We Are On Schedule for a Very, Very Long Bear Market," Prechter Says

http://finance.yahoo.com/tech-ticker/dow-slumps-3.6-%22we-are-on-schedule-for-a-very-very-long-bear-market%22-prechter-says-492864.html?tickers=^DJI,^GSPC,^IXIC,^RUT,^VIX,IWN,TLT

[NYBob]

The system cannot repair itself because those in charge at the helm
making decisions caused the fractures and protect their power base.
They live and operate within a system that no longer functions
effectively.
Reform would involve bankruptcy for the elite in charge.
Remedy would involve liquidation of the balance sheets
for the elite in charge.
True crackdown would involves prosecution and jail time
for the elite in charge.
Changing of the guard would involve lost power
for the elite in charge.
Independent audits would involve revelations and disclosures
of criminal fraud on a widespread basis.
So the system lumbers along, broken.
Nowhere has the brokenness gone more unaddressed than
under-water mortgages for 22% of the American public.
True remedy and crackdown would involve a mushroom of criminal
allegations from bond fraud, revelation of duplicate usage for
mortgage payment revenue streams, lost property titles,
and counterfeit fraud.
That is a major reason why Fannie Mae was nationalized,
to keep the fraud under the roof of the United States Government,
where the corruption, theft, and fraud can be protected
by the numerous agencies.
The global response has been and will continue to be a flight
into gold, finally recognized as a zero risk safe haven.
The global decline in trust for government debt
is the death knell for the major currencies,
the monetary system, and the central bank franchise system.
It is also the harbinger for $2000 gold and $50 silver.
by Willie

The Leitch Gold Mine -

One of Richest past Au producer in Canada -
(now on GRC (Roxmark land) was the # 1 of Ontario & Canada's
highest grade and most profitable Gold mines -
producing 860,648 ounces from 906,395 tons of ore
at an average recovered grade of 0.91 oz.Au/ton.



Even more impressively, the average recovered Gold grade -

over the last ten years of the mine’s Gold operation -

was 1.15 oz.Au/ton.



The Leitch Mine was once one of the Canada's richest Au mine &

The Sand River/Leitch complex produced more than 900,000 ounces of gold.

Like other Roxmark mines in both Camps, it remains open at depth.

Leitch Gold Mine

Mineral Development Home | History |
Current exploration | Data downloads

Owner:
Goldstone Res. (Roxmark Mines Ltd.)

Commodity:
Gold (Au)

Operation:
1936-1968

Ore mined:
920,745 tons

Gold produced:
847,690 oz. (24031588g*)

Recovered grade:
0.92 OPT** (31.5g/t***)

Mine type:
Underground Narrow vein Quartz

Mining method:
Resuing

Status of modeling:


Status:
Exploration for re-opening

* 1 Ounce = 28.3495 g
** OPT = Ounces per tonne
*** 1 OPT = 34.2818 g/t (g/t = grams per tonne)

dd....
http://investorshub.advfn.com/boards/board.aspx?board_id=1499

http://www.grcmines.com/

Junior old great gold mine explorers have the greatest upside potential -

http://www.goldstoneresourcesinc.com/




imo.

..the more the khazars banksters gangs manipulate -
the $fiat lavatory conterfeits papers -
the Higher Au gold price going to FLY
and great Au mines the GRC comp. -
and the past old Au producers GRC own
will be re-commissioned
http://www.grcmines.com/history.php

[SAMIA]

Beyond the Point of No Return: You Need to Buy Gold - Bud Conrad

http://seekingalpha.com/article/204882-beyond-the-point-of-no-return-you-need-to-buy-gold-bud-conrad

[SAMIA]

JP Morgan: Gold Could Now Face 'Unlimited' Demand

http://www.businessinsider.com/jp-morgan-gold-now-could-face-unlimited-demand-2010-5#ixzz0nozfdSwu

[SAMIA]

GOLD SEEN AS ZERO RISK REFUGE

No charts are necessary. A thousand words might suffice, rather than six charts showing Gold breaking out to new highs across the world. Some major points scream to be told. Here is a list:

* Gold is rising in every single major currency
* Gold is not a hedge against price inflation, but rather against ruined monetary system
* Gold is making new highs in almost every single major currency
* Gold had consolidated in price for four months, the base for breakout
* Gold will reach $2000 in price within the next two years time
* Gold is desperately needed to anchor the failed fiat paper currency system
* Gold is planned for a component role in the new Northern Euro currency
* The sovereign debt crisis has fueled demand for Gold without the full realization that the central bank franchise system has failed along with the fiat currencies
* Quantitative Easing is monetary hyper-inflation, the fuel of the Gold rally
* Gold is urgently needed as a bank reserve to ensure proper function
* Gold contains no inherent counter-party risk
* Gold is in the midst of vast supply shortages
* The Gold Cartel is seeing defections among its allies, who are buying gold bullion after the cartel knocks down the price
* Nations are hoarding their gold mining output, the latest possibly Venezuela
* Gold is seeing panic buying in parts of Europe, like Austria
* Gold mining output is trending down for the past few years
* Gold was by far the #1 investment asset in the entire 2000-2009 decade
* The US Dow Jones Industrial Average is in multi-year decline, in Gold terms
* Gold is protected from human corruption, except in its theft and hollow replacement
* Gold market is receiving heavy scrutiny for corrupt metal exchanges
* The London Bullion Market Assn has been in default since December, bribing on delivery demands to receive cash settlement with a 25% premium paid
* The GLD gold exchange traded fund is a corrupt diversion from metal ownership
* Hong Kong is soon to offer several exchange traded funds for Gold
* Gold can and does rise in price concurrently with the USDollar
* Future payment for oil shipments will require a gold-backed currency
* New barter systems of trade will contain a gold core component
* Gold is the ultimate safe haven asset
* The USTreasury has no gold reserves, as Fort Knox is empty, since the Clinton-Rubin gang leased it and sold it all
* PIGS nations have more gold reserves than the United States
* Switzerland and Canada have almost zero gold in national reserves
* The IMF gold sales are lies, actually closed out USGovt gold short transactions from past years when the Clinton-Rubin gang leased gold for sale
* Gold leased from the Italian central bank was lost by LongTerm Capital Mgmt
* Bear Stearns was targeted for a kill, since it was long in gold, defying Wall Street
* China participates with the IMF sideshow game in order to buy its gold pledges
* If Gold were revalued at 3x to 5x the price, many national banking systems would be restored to health and solvency
* Price hyper-inflation is the likely next blemish on the US landscape, which will fuel broad public gold demand
* Any attempt by the USGovt to confiscate gold would result in a gigantic backfire, with the gold price doubling in price, and US foreign assets subjected to freezes
* Gold will reach its high range when US bankers along with London bankers face a Nuremberg style criminal trial on the global stage
* Prepare for the arrival of a small group of new Gold-backed currencies, the USDollar death knell
* As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1913, "Gold is money, and nothing else"

[SAMIA]

Gold and Silver Soar as Confidence in World Currencies Crumbles

My Take:

As you can see above, gold has now hit an all time high, soaring to over $1235 an ounce in the futures market as we speak. We also saw a huge spike in silver as seen above in graph #2.

This is not an inflation adjusted high for gold, but this point is irrelevant because the reason that gold is rising is not about fears of inflation like we have usually seen in the past when gold has soaring.

The reason gold is flying higher is because it's clearly the only currency left that's not being destroyed by a major central bank. Trust me: The bankers would love to debase it if they could, but they can't because gold and silver have an inherent value that's been established for thousands of years.

The destruction of the euro after Europe's trillion dollar sovereign bailout announcement has forced the market makers to re-evaluate the value of all currencies IMO.

They are beginning asking themselves: Could the dollar and euro be worth nothing if they are backed by nothing more than governments that are currently being strangled by trillion dollar deficits?

About a year ago gold would always sell off hard anytime we saw a jump in the dollar. This has no longer been the case especially since Europe has fiscally blown up thanks to the PIIGS. Gold has actually hit new highs despite the huge rise in the dollar. This is something to seriously take notice of!

The reason gold is ignoring the huge rise in the dollar appears pretty clear: One currency that rises versus another currency isn't all that impressive if BOTH are essentially worthless as a result of the massive debts that back both of them.

This has created what I call "The Value Crisis" where investors are beginning to realize that there is nowhere to hide in this market.

I mean look at the current options for investors:

* Munies: Ummm no thanks I'll pass when many states are on the brink of bankruptcy.
* Treasuries: Heh...Works for now but for how long as we continue to run trillion dollar deficits?
* Stocks: Do I really need to explain this one? P/E's are worse that they were during the tech bubble. Enough said.
* CD's: 0% interest and they are guaranteed by a government that is fiscally bankrupt. Wow how tempting!
* Money markets: 0% interest and the same issue as CD's.
* High yield bond funds: Good luck with this idea. This was a nice ride in 2009 if you caught it but it's over now. Most of these funds hold mainly BBB rated debt. This is not where you want to be heading into a fiscal funding crisis. Getting an 8% dividend when your principle investment could drop by 50% as our debt spreads widen as a result of our debts is hardly the place you want to be.

So what's an investor to do? Tough call but one thing is for sure: Hard assets are a place you need to be with at least some of your portfolio because they hold real value.

The Bottom Line:

Let me start by saying that I am by no means a gold bug. However, I own gold and silver based on the thesis that there is a very good chance that many currencies will be worth practically nothing when this is all said and done.

I say this because the dollar and the euro are being backed by nothing other than "guarantees" by the US government and the ECB. Meanwhile both central banks continue to spend well beyond their means and have created seemingly insurmountable debts as they desperately attempt to prevent the credit bubble from bursting.

This being said, are there some currencies that will do well? Sure. However, the biggies like the yen, US dollar, and the euro are all in deep trouble.

To give you an idea of how insane the FX markets have become: The yen has been rising versus almost all currencies and Japan's debt to GDP ratios are worse than Greece!

I will continue to hold my metals based on the thesis that these currencies will continue to decline versus gold as the world's central banks continue to throw their money out of helicopters.

Keep in mind there is also another reason to hold metals: If the economy does get some legs then there will be an inflationary boost for Gold that should take prices even higher.

When you think about metals, keep one thing in mind: All of these banks have no choice but to print money because there will be a global deflationary depression that will lead to wars if they try and stop.

The political will to take the pain simply isn't there. Greece is a perfect example. There are more protests later this week. God only knows what will happen as these mobs grow increasingly angry. Trend author Gerald Celente said it best: "When people lose everything they lose it!"

These are tough times for an investor. Hold some hard assets in your portfolio and stay diversified.

The central bankers around the globe are printing like mad, and they can't afford to stop because the reprocussions are going to be devestating when they do. And there will be a time where they stop because this is unsustainable just like any other bubble is.

The moves in gold and silver will keep the bankers up at night. This is the one currency that they can't debase or manipulate (other than trading) ,and it scares the heck out of them because it makes all of the paper dollars that they hold in their banks less valuable.

http://seekingalpha.com/article/204610-gold-and-silver-soar-as-confidence-in-world-currencies-crumbles

[SAMIA]

La seule "monnaie"qui vaille, c'est l'or

Tel est le credo des investisseurs qui voient le métal atteindre des records dans toutes les devises. En quête d’une assurance qui pourrait les prémunir contre les risques, les capitaux, en provenance des quatre coins de monde, fondent littéralement sur le métal précieux.

Bruxelles (L'Echo) - L’or s’érige plus que jamais comme la valeur refuge par excellence. En quête d’une assurance qui pourrait les prémunir contre les risques d’éclatement de la bulle en formation sur le marché des emprunts d’État et de dévaluation des devises des pays les plus industrialisés, les capitaux, en provenance des quatre coins de monde, fondent littéralement sur le métal précieux.
Records dans toutes les langues

Le mouvement est à ce point virulent que le lien historique unissant les cours de l’once d’or et les monnaies des pays industrialisés a volé en éclat. D’ordinaire, le prix du métal jaune en dollar tend à s’apprécier lorsque la devise US perd pied (on parle de corrélation négative), tout comme il a tendance à se renchérir en euros, francs suisses, livres sterling, ou yens, lorsque ces devises en font autant (on évoque une corrélation positive).

Aujourd’hui, c’est tout le contraire que l’on observe. Alors que l’euro, le franc suisse, le sterling et le yen enregistrent un repli moyen de 6,5 % face au dollar depuis le début de l’année, l’or, qu’il soit libellé dans ces devises ou en dollar, enregistre une progression moyenne de 19,5 %.

Pour les investisseurs européens on peut même dire que le jeu en vaut particulièrement la chandelle puisque leur placement dans l’or physique leur assure un return de quasi 28 %.

La rupture de ce lien historique entre les cours de l’or et les cours des devises du G7 est d’autant plus significative que l’once d’or culmine à des niveaux records dans chacune des devises précitées (978 euros, 1.238 dollars, 832 sterling, ou 1.374 francs suisses).
"Remonétisation" de l’or

Signe de l’engouement très vif des investisseurs pour le métal jaune, les participations du plus gros fonds coté d’investissement dans l’or, le SPDR Gold Trust, ont atteint lundi 1.192,15 tonnes, un nouveau record, qui place ses réserves à un niveau comparable à celles de la Banque centrale suisse.

En clair, l’once d’or est en train de se "remonétiser", c’est-à-dire de retrouver son statut de "monnaie alternative".

Les investisseurs prennent conscience que l’or physique est l’un des rares actifs tangibles pour lequel il n’est pas question de faire tourner la planche à billet. Le dollar, l’euro et consorts ne sont que de vulgaires bouts de papier que l’on peut être tenté de démultiplier à l’infini, surtout lorsque, comme c’est le cas actuellement, les pouvoirs publics sont confrontés à des montagnes de dettes.
Bulle de la dette publique

Pour refinancer des déficits records, rembourser des montants, tout aussi records, d’emprunts arrivant à maturité, et financer des plans gigantesques de relance économique et de stabilisation bancaire, les États ne trouvent pas d’autres solutions que d’émettre toujours plus dettes.

En réaction à un déficit public moyen de plus de 6 % du PIB dans la zone euro et aux 515 milliards de USD de pertes et dépréciations actées par les banques européennes depuis le début de la crise des subprimes à l’été 2007, les États européens devraient, selon Bank of America Merrill Lynch, émettre près de 2.600 milliards d’euros de nouvelles dettes d’ici trois ans. Et ce en dépit d’un endettement qui dépasse déjà, dans bien des cas, 100 % du PIB.

L’escalade atteint aujourd’hui de telles proportions que l’on peut évoquer la formation d’une bulle sur le marché des emprunts étatiques. Une bulle qui, si elle venait à exploser, induirait une sévère dévaluation des monnaies du G7 et de tous les actifs libellés dans ces devises, avec, à la clef, une rechute de l’économie.

Dans cette perspective, l’or serait l’un des rares actifs tangibles à ne pas perdre de valeur.

Ce n’est d’ailleurs pas pour rien que le métal jaune surperforme pratiquement toutes les classes d’actifs. Ses gains 2010 (+28 % en euros) contrastent singulièrement avec les prestations des actions (+10 % pour le MSCI Monde, en euros) des obligations (+6,7 % pour les emprunts d’État mondiaux et +9,17 % pour les emprunts d’entreprises mondiales, toujours en euros) et des matières premières (+7,5 % pour l’indice de S & P et Goldman Sachs, en euros).
Pas de risque de défaut

Malgré le vaste mécanisme de soutien aux pays de la zone euro décidé ce week-end par l’Union européenne, "la crainte que la crise de la dette de la Grèce ne se propage à d’autres pays de la zone euro incite les investisseurs à mettre leur argent dans des placements plus sûrs (que l’euro), comme l’or", explique Eugen Weinberg, analyste chez Commerzbank. Contrairement aux actions ou aux obligations, qui dépendent d’un émetteur (une entreprise ou un État), le métal jaune ne présente aucun risque de défaut.
Rempart contre la BCE

Enfin, le métal précieux constitue un bon rempart contre les pressions inflationnistes qui pourraient naître des opérations de rachats de dettes publiques et privées, en ce compris les "obligations pourries" de la zone euro, opérées par la Banque centrale européenne, dont le bilan s’apprête à gonfler prodigieusement.

Bref, autant de facteurs qui incitent JPMorgan et Credit Suisse à tabler sur une once d’or comprise entre 1.250 et 1.350 USD d’ici la fin du troisième trimestre.

Luc Charlier
16:28 - 12/05/2010 Copyright © L'Echo.be

http://www.lecho.be/actualite/marche_-_placements_general/La_seule_-monnaie-qui_vaille-_c-est_l-or.8914550-3502.art

[SAMIA]

Gold flies to record, investors seek safety

http://finance.yahoo.com/news/Gold-flies-to-record-rb-3527403272.html?x=0&sec=topStories&pos=1&asset=&ccode=

[SAMIA]

Gold Is Going Totally Wild, As Traders Place Big Bets Against "The House"

http://www.businessinsider.com/gold-is-going-totally-wild-as-traders-place-big-bets-against-the-house-2010-5

[SAMIA]

David Rosenberg: With Every Government Printing, $3000 Could Be Conservative For Gold

http://www.businessinsider.com/david-rosenberg-with-every-government-printing-3000-could-be-conservative-for-gold-2010-5

[NYBob]

GG BREAKINGOUT!!! Go GG!! Worldwide sovereign debt crisis unravelling,
first with the PIIGS countries, then the UK, then USA.
PM's are getting ready for a superspike!
Tim thanks -

GREECE WILL DEFAULT & GOLD WILL VAULT
Peter Souleles B. Com. LLB.
5 May 2010

WHY ARE THE GREEKS PROTESTING?



The Greeks are protesting on the streets because they can smell a rat
before they even see it.
Their instinct tells them that the fine detail of the austerity
measures will inevitably lead to incredible hardship, belt tightening
and long term debt servitude.
Their sovereignty and hence their freedom and future will be
greatly restricted.


GG Performance compared to other major producers -


http://www.gold-eagle.com/editorials_08/souleles050510.html

http://investorshub.advfn.com/boards/board.aspx?board_id=1997

[SAMIA]

Obama to Sell 41% of Hawaii and All the Virgin Islands to Canada For $3.4B

Canada’s multi-year efforts to buy the Turks and Caicos Islands in the Caribbean as a sunny and warm winter vacation destination for it citizens during its long cold winters have been abandoned in favour of its agreement to purchase 41.3% of the Hawaiian Islands and 100% of the U.S. Virgin Islands from the cash-strapped United States.

Sympatico.ca, in a story* leaked earlier today, report that this is only the first of several other major real estate distress sales the U.S. intends to conclude this year as a groundbreaking new way of generating money to bounce back from the tough economic times it has seen in the last couple of years.

Terms of the deal were not fully disclosed, but those familiar with the negotiations put the final price at around $3.3B USD for the Hawaii Purchase and $0.1B USD for the Virgins Purchase. The Hawaii Purchase is rumoured to be renamed “Harper Islands” while the U.S. Virgin Islands will be renamed “The American Virgins”. It is rumoured that the United Kingdom, also in desperate financial shape, has also agreed to sell their entire 60 British Virgin Islands possessions (153,000 square miles) to Canada for $100,000,000CDN.

The Hawaiian Purchase will exclude the 8 main islands of the state, i.e. Hawaii, Maui, Kahoolawe, Lanai, Molokai, Oahu, Kauai and Niihau which consist of 58.7% of the total land mass leaving 4,512 square miles or 41.3% that are being sold at a price of $731,383/sq. mi.

The Virgins Purchase will include all 133.7 square miles of territory that was originally purchased from Denmark back in 1917. Its selling price works out to $747,943/sq. mi.

For those who are interested:
a) the Louisiana Purchase in April 1803 from France consisted of the purchase of 828,000 sq. mi. of the area from the Mississippi River to the Rocky Mountains and from the Gulf of Mexico to British North America (now western Canada). It comprised of approximately 23% of the country’s present land mass which include what are now 14 states in whole or in part (plus small portions of land that would eventually become part of the Canadian provinces of Alberta and Saskatchewan). The purchase price was $15,000,000US or $18.12/sq. mi.

b) the Alaska Purchase on March 30, 1867 (some say the purchase was back-dated from April 1, 1867 so it would not be thought of as a cruel joke on the American people) from Russia consisted of 586,412 square miles at a price of $7,200,000US or $12.28/sq. mi.

John Canuck, Canada’s chief Island Procurement Officer was excited to have two contracts signed, sealed and delivered. “This is a huge deal for us. Now that we have our own tropical locales we expect fewer Canadians will vacation in Florida or Arizona which should help with Canada’s balance of payments and further bolster the value of the Canadian dollar beyond parity with the USD.”

Canuck would not comment on future such purchases stating that such unbelievable good fortune would likely not be announced until this date next year (i.e. April 1st, 2011).

http://www.munknee.com/2010/04/obama-agrees-to-sell-half-of-hawaiian-islands-to-canada-for-cash/

[SAMIA]

Grèce: une aide inévitable, mais dangereuse

Les 110 milliards promis dimanche soir par les ministres des Finances de la zone euro étaient le prix à payer pour sauver la monnaie européenne, estime la presse suisse. Mais les risques qu’Athènes ne parvienne pas à rétablir la situation et que la crise fasse tache d’huile demeurent, selon elle.

Caricaturées sous toutes les formes depuis le début de la crise grecque, les statues antiques reprennent du service lundi matin dans le journal de boulevard Le Matin.

Sur son piédestal, un athlète se ceinture les hanches et, les yeux exorbités, souffle très péniblement. «La Grèce va devoir se serrer la ceinture», annonce le dessin.

Décliné ici sur le mode comique, ce message est répété sur un ton autrement plus grave dans les quelques journaux helvétiques - alémaniques surtout - qui commentent lundi le plan d'aide à la Grèce.

Tous commencent d’ailleurs par souligner que ce sauvetage se fait sous la pression. «A vrai dire, il n’existait tout simplement pas d’alternative», relèvent ainsi le Bund et le Tages Anzeiger dans un éditorial commun.

Car, poursuivent les deux journaux, cette aide d’urgence, les Grecs «ne la reçoivent assurément pas par sympathie.» Elle ne sert «qu’à assurer la stabilité de l’union monétaire et à empêcher que la crise contamine d’autres pays membres de la zone euro.»

La NZZ très critique

Ce scénario catastrophe, la Neue Zürcher Zeitung (NZZ) l’évoque aussi, rappelant que la Grèce n’est pas le seul Etat membre de la zone euro qui a «négligé de juguler l’influence de l’Etat, d’assainir le ménage étatique et d’augmenter les capacités concurrentielles de l’économie.»

Très critique quant à la décision des ministres des Finances de la zone euro, le journal zurichois juge que ce plan de sauvetage - le plus important jamais mis au point dans l'histoire récente pour un pays en difficulté financière – représente en fait «le prix de la peur» et qu’il est à maints égards problématique.

D’abord parce qu’il «enfreint toutes les règles que l'Union s'était fixées» et constitue une entorse au traité sur le fonctionnement de l’UE, lequel stipule qu'aucun État membre n'est responsable des engagements d'un autre.

La NZZ va même jusqu’à citer l’article 103 de ce traité, aux termes duquel «Un État membre ne répond pas des engagements des administrations centrales, des autorités régionales ou locales, […] d'un autre État membre, ni ne les prend à sa charge, sans préjudice des garanties financières mutuelles pour la réalisation en commun d'un projet spécifique.»

Mais aussi parce qu’il donne quittance à des pays comme le Portugal, qui pourraient être tentés de ne pas faire ce qu’il faut pour maîtriser leur endettement. Dans cette perspective, l’euro-groupe doit respecter les règles qu’il s’est imposées. Sinon, avertit le journal zurichois, «la réalité pourrait le contraindre à prendre des mesures encore plus graves et surtout contraires à ses principes de fonctionnement.»

Autres solutions possibles

Aux yeux du journal zurichois, d’autres solutions auraient pourtant été possibles. Un rééchelonnement de la dette ou une sortie de la Grèce de la zone euro par exemple, solutions pour lesquelles il existait «de sérieux arguments d’ordre politique et économique.» Même son de cloche dans Le Temps.

«Un rééchelonnement de la dette, assorti bien sûr de conditions exigeantes, aurait permis à la Grèce de s’engager dans la voie de la croissance et d’honorer ses engagements sur une base plus saine», estime le journal romand, qui est plutôt pessimiste quant à la capacité de la Grèce de s’en sortir.

«Avec ses ingrédients inchangés, la recette du FMI permettra sans doute à la Grèce de garder la tête hors de l’eau. Mais elle ne suffira pas à lui donner les moyens pour en sortir. La Grèce change de créanciers mais elle n’est pas libérée du cycle infernal de l’endettement. Elle risque même de s’y enfoncer davantage: en 2014, sa dette pourrait être de 144% du PIB, contre 133% en 2010», écrit son éditorialiste.

Une pensée pour la population

A ce tarif, les journaux ne cachent pas que la facture sera plus que salée pour la population grecque. «La mise sous tutelle de la plus petite économie de la zone euro – la Grèce ne pèse que 2,5% du produit intérieur brut des seize pays qui en font partie – signifie une pénible et longue cure d’austérité. ­Malgré quelques correctifs, celle-ci frappera sans pitié les couches les plus défavorisées», ajoute Le Temps.

Reste que «les 15 euro-partenaires sont en droit d’attendre une application conforme au calendrier des obligations liées à ce paquet d’aide d'urgence», estiment quant à eux le Bund et le Tages Anzeiger.

Et de formuler des avertissements destinés aux autres pays du Sud de l’Europe: «Ils ont aussi un devoir: entreprendre un programme de réformes crédible afin de briser le cercle infernal de l’endettement, de la faible croissance, de la bureaucratie et du manque de concurrence», conseillent-ils.

Quant à l’Union européenne, elle doit désormais affronter plusieurs tâches d’envergure après cette crise, met en garde la presse suisse. Pour les journaux alémaniques, il est ainsi nécessaire de renforcer les institutions de la zone euro, quitte à définir des critères qui risqueraient aussi de concerner l’Allemagne et la France.

Prisonnière d'une contradiction de fond, à savoir «concilier des politiques économiques nationales et une monnaie européenne unique», l'UE ne parvient à se mettre d'accord «que dans l'urgence», analyse La Regione. Or le journal tessinois voit un autre problème qu'elle devrait s'attacher à résoudre: «stopper une spéculation financière à qui jusqu’ici personne n’a pu ou voulu opposer de contre-mesures efficaces.»
0134930359

[SAMIA]

The Beginning of the End? Stocks Dive as Volatility Index Soars

http://finance.yahoo.com/tech-ticker/the-beginning-of-the-end-stocks-dive-as-volatility-index-soars-478369.html?tickers=^dji,^gspc,^ixic,XLK,XRT,qqqq

[SAMIA]

Why A Eurozone Break-Up Would Trigger The Mother Of All Financial Crises

http://www.businessinsider.com/eurozone-break-up-would-trigger-the-mother-of-all-financial-crises-2010-5

[SAMIA]

FUNDAMENTALS BODE WELL FOR GOLD PRICES

http://pragcap.com/fundamentals-bode-well-for-gold-prices

[Fishpert]

Samia, might be best to just let the board die.

[SAMIA]

After Chinese Rate Hike, Faber Warns Of Severe Market Crash In 9-12 Months

http://www.businessinsider.com/after-chinese-rate-hike-faber-warns-of-severe-market-crash-in-9-12-months-2010-5

[NYBob]

Can't Plug That Gulf Oil Leak?



WHY..do we need the weather destruction machines...
did a man made storm take down the drill rig....
http://current.com/news/89003708_teslas-earthquake-machine-haarp.htm

Bailout & Stimulus Cost & has BHO made the people liabel for the
banksters derivative nss fraud ponzy schemes? -

Now you might think spending a million dollars per US household
in one short article would cover it all, but we’re still not done
here, we’ve got a bailout and stimulus to pay for.
How much is that going to cost?

The best answer is that no one knows for sure.
Because the true cost of the bailout is so tightly interwoven with
what is going on with the overall economy, as well as with the
extremely complex and volatile market of over $400 trillion
(still outstanding) in derivative securities contracts that have
been entered into by banks around the world.
Since the governments are guaranteeing the banks, that means they
are guaranteeing the hundreds of trillions of dollars in derivatives,
and we don't know what that’s going to end up costing....

http://danielamerman.com/Video/BBL1.htm

A £516 trillion derivatives 'time-bomb' -

http://www.dailypaul.com/node/68696

700 TRILLION..that is what the estimate is for global derivatives!!
WERE DOOMED!



http://www.dailypaul.com/node/46810

American Peoples Voices -



Growing Public Anger in America

by Stephen Lendman

The Pew Research Center (PRC) for the People & the Press is
"an independent, non-partisan public opinion research organization
that studies attitudes toward politics,
the press and public policy issues."

On April 18, it published a report titled, "Distrust, Discontent,
Anger and Partisan Rancor," saying:

"By almost every conceivable measure Americans are less positive
and more critical of government these days."
A new PRC survey confirms it, and why not under a "perfect storm
of conditions" - a wrecked economy for millions fueling distrust
and an "epic discontent with Congress and elected officials"
who betrayed them.

http://www.thepeoplesvoice.org/TPV3/

The Big Six Banks are Shorting the American Dream -
nss the US market with the bail-out tarp - peoples money -
http://www.informationclearinghouse.info/article25336.htm

Greek regulators have announced a ban on short-selling on Greece's stock market

http://www.bbc.co.uk/blogs/haveyoursay/2010/04/how_can_the_financial_crisis_i.html

its long overdue rules of a level playing field in

all Western free markets - for The Fair Market Places -

gov. by strict rules -

and all criminal illegal nss naked short selling banksters gangsters -

to min. live-time in prison for treason -

against our US Liberty & Freedom of Law and Justice -

Obama and Rockefeller 1

Robert Higgs on Government Obstruction of Liberty

http://www.bibliotecapleyades.net/biggestsecret/biggestsecretbook/biggestsecret10.htm

WHY..do we need the destruction machines...
http://current.com/news/89003708_teslas-earthquake-machine-haarp.htm

Using our Member's Manual, we can begin by seeking the truth
that the Bible conveys to us about Christianity -
and our role as a new (or old) Christian -
a member of our Father God's Congregation -
In God We Trust -
God Bless

[SAMIA]

Big Fat Greek Bailout Just a "Band-Aid," Ortel Says: "Default May Make a Lot More Sense"

http://finance.yahoo.com/tech-ticker/big-fat-greek-bailout-just-a-%22band-aid%22-ortel-says-%22default-may-make-a-lot-more-sense%22-476008.html?tickers=EUO,VGK,UUP,UDN,GLD,TBT,XLF

[SAMIA]

Gerald Celente (Economy) Founder/Director Trends Research Institute

Topic: The History of the Future: Trends 2012 - The Great War

http://www.netcastdaily.com/broadcast/fsn2010-0501-3.mp3

[SAMIA]

Marc Faber - The Ultimate Crisis Will Destroy Everything



Eric King: Marc Faber always known for his frank talk summed up the situation as follows, “If you look at Greece like a corporation, basically its bust.” Bullish fundamentals for gold are all around, yet many are waiting for the next shoe to drop in the gold market. Pessimism coupled with bullish underpinnings potentially set the gold market up for a significant move higher.



When asked about the rescue package Faber remarked, “In my opinion it doesn’t go far enough, its postponing the problem. Its the same way in America the financial crisis has not been solved but the real crisis has been postponed because the deficits are going up. But in a democracy no problems are solved its just postponed until the ultimate crisis will destroy everything.”


Marc Faber has been warning about paper currencies for years. His understanding of Austrian Economics allows him to see the global train wreck that is the fiat system. As all paper currencies implode those with gold will be the only ones left standing.


http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/4/30_Faber_-_The_Ultimate_Crisis_Will_Destroy_Everything.html

[SAMIA]

Nouriel Roubini - Massive Global Defaults

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/4/30_Nouriel_Roubini_-_Massive_Global_Defaults.html



Eric King: The comments from Nouriel Roubini at the Milken Global Conference are stunningly bullish for gold and silver, “If governments become effectively insolvent they default on their debts and that’s what may be happening soon in Greece and in the rest of the Eurozone and eventually what may happen soon in other advanced economies.”


To understand how extraordinarily bullish this is for investors in gold and silver take a look as Roubini goes on to elaborate on the shocking reality of the US debt situation, “Think about the US government where first of all our federal deficit and debt is going to go to 100% of GDP based on official statistics. Then we have another 20 to 30 trillion dollars of unfunded liabilities coming from social security and medicare...Then we have the disaster of state and local governments, their official stock of debts according to the Moody’s Bond Market is about 2.8 trillion dollars that’s another 20% of GDP. Then you have between 1 trillion to 3 trillion of unfunded liability of the state and local government pension funds, that’s another 15 to 20% of GDP. So while the official public debt already looks like a disaster because it is going from 50 to 100% of GDP, if you add all of these unfunded liabilities...that debt is even higher than that...Governments are very short-term and unless the markets then force them to adjust like they are right now in the Eurozone, the incentive is always to kick the can down the road and postpone the problem, socialize the private losses rather than addressing this fundamental problem. That’s why I’m worried.”


Nouriel may be worried and for good reason but his message could not be any better for those betting on higher gold prices. Rob Arnott who has won 5 Graham & Dodd Awards shocked King World News listeners by quantifying all unfunded liabilities and total US debt at 850% of GDP. Rob then went on to say that the US is in worse shape than Japan. These types of fundamentals are the underpinnings of phase II of this secular bull market in gold and they assure a manic phase at some point down the road.

[SAMIA]

Here's Why They Can't Plug That Gulf Oil Leak

[SAMIA]

Roubini on Greece

Apr 27, 2010 22:14 EDT
greece

Nouriel Roubini, it can be safely said, gives good panel — especially when the subject is the eurozone and the possible disintegration thereof. He’s been bearish on the PIGS in general and on Italy in particular for many years now, but I don’t think it comes as much surprise to him or to anybody else that Greece is the first country really in the firing line.

One of the most interesting things about the status quo post-downgrade is that no one seems to have a clue what the base-case scenario is. Are the markets still expecting Greece to get bailed out, but adding on an ever-increasing yield premium to account for the possibility that it won’t be? Are they, like panelist James McCaughan, expecting an orderly debt restructuring later this year, with an effective haircut in the 20-40% range? They certainly don’t seem to be expecting anything worse than that — Greece’s bonds are trading at high yields, yes, but not at distressed levels, and there’s still room to lose a lot of money on those 2-year bonds if they end up defaulting.

My feeling is that the base case is one of muddling through for the next 2-3 years, with Greece scrounging up enough money from the EU and IMF to avoid a default, and Europe’s banks meanwhile staying profitable enough thanks to the ECB’s monetary policy that they build up their solvency for when the inevitable default does occur a few years down the road.

But it’s not clear that the markets are going to let that happen. It’s all well and good for the Germans and others to cover the Greek fiscal deficit for the next three years, and even to insist on tough fiscal adjustment at the same time. But if Greek yields stay anywhere near their current levels, there’s a good risk that would be politically unacceptable in both Germany and Greece. Sweden’s Bo Lundgren was also on the panel, and he helped explain how the Swedish population has the crucial and decidedly un-Greek ability to unite behind unpopular yet necessary policies once their political leaders have set a certain course. Greece, which is already seeing riots at any hint of fiscal austerity, just isn’t the kind of nation which is likely to decide that five years of wage cuts in a painful and deflationary recession is a price worth paying to stay current on the national debt.

Meanwhile, Tony Barber has already come to the conclusion that as far as Greece is concerned, “the political conditions for extra financial help from Germany just do not exist”.

Nouriel, of course, takes that kind of thinking to its logical conclusion, and kicked off the panel by announcing that it was just in time: “in a few days,” he said, “there might not be a eurozone for us to discuss.” There’s no way that Greece can implement the 10% spending cut it needs to do in order to stop its debt spiralling out of control at current interest rates — and even if it did, the economic effects would be disastrous.

Nouriel’s base case, then, is Argentina 2001: after all, Greece has a much higher debt-to-GDP ratio, much higher deficit-to-GDP ratio, and much higher current-account deficit than Argentina had back then. And if that’s the base case, there’s no way that Greek debt should be trading anywhere near its current levels.

Of course, this being Nouriel, it goes downhill from there: if Greece is worse than Argentina, he says, then Spain is worse than Greece. Its housing bubble and bust has left the banking sector much weaker than Greece’s; its unemployment situation, especially with the under-30 crowd, is much worse than Greece’s; and the cost of any Spain bailout would be so much more enormous than the cost of a Greek bailout as to be almost unthinkable. The only thing that Spain has going for it is that it isn’t quite at the edge of the abyss yet; if it gets its political act together and implements tough fiscal and structural reforms now, it can save itself. But clearly no one saw that happening, given Spain’s political history over the past 20 years.

There’s no good news here. The least bad course of action for Greece, in Nouriel’s eyes, is some kind of coercive yet orderly debt restructuring, which keeps the face value of the debt unchanged but which reduces coupons and pushes out maturities. And an exit from the euro. Alternatively, the ECB steps in and cuts interest rates so low that the euro gets pushed down towards parity with the dollar, which would accomplish something similar without nearly as much pain.

One member of the audience, though, had a really good question: what happens to the European system of sovereign guarantees of interbank lending? When those sovereign guarantees aren’t worth much any more, Euribor is likely to spike, since suddenly there’s a lot more credit risk involved in interbank lending. And there are hundreds of trillions of euros of debt contracts linked to Euribor, which could suddenly get very expensive and take control of short-term interest rates out of the hands of the ECB.

And in any case it’s worth remembering that even though Greece’s debts are small in relation to Spain’s, they’re still large in relation to, say, those of Lehman Brothers. And given that there is no formal mechanism for leaving the euro (or for defaulting on sovereign euro-denominated debt, for that matter), there will almost certainly be a range of unexpected and chaotic events somewhere down the line. That’s why I feel that although Greek bond yields are certainly going to be volatile for a while, we’re going to see higher highs and higher lows — there’s pretty much nothing, at this point, which could reassure the markets and turn Greece back into an interest-rate play rather than a credit play.

Even a massive IMF bailout, which is probably the best-case scenario for Greece right now, wouldn’t suffice to bring yields back down to their pre-crisis levels. As Nouriel pointed out, the IMF, as a preferred creditor, would make sure it was repaid, in the event of default, long before bondholders. And as a result, even if the probability of default dropped, the recovery value on Greek bonds in the event of default would drop as well. And so yields wouldn’t come down as much as you might think.

I covered emerging market sovereign bonds for many years, but I’ve never seen anything like this: a country trading at levels where the bear case is terrifying, the bull case is very hard to articulate, and everybody is talking about a possible default even when the country has an investment-grade credit rating from two agencies and is only one notch below investment grade at the third. Maybe the only thing which really explains what’s going on is that both yields and ratings are sticky. Which would imply that Greece has a long way to deteriorate from here.

http://blogs.reuters.com/felix-salmon/2010/04/28/roubini-on-greece/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+felix-all+%28Felix+Salmon+-+All%29

[SAMIA]

Crisis Spreads in Europe

Debt Downgrades in Portugal, Greece Sow Fear of Contagion; World Markets Hit

http://online.wsj.com/article/SB10001424052748704471204575209881629094458.html

[SAMIA]

Gold Most Likely to Double: Puru Saxena

http://www.kitco.com/reports/KitcoNews20100412J2.html

[SAMIA]

Why Today's Gold Spike Is Important And Could Mark The Start Of Something Big

http://www.businessinsider.com/why-todays-gold-spike-is-important-and-could-mark-the-start-of-something-big-2010-4

[SAMIA]

Greece Budget Gap Worse Than Feared; Moody’s Downgrades Debt

http://www.financialsense.com/Market/wrapup.htm

[SAMIA]

Gerald Celente on Gary Null 20 April 2010

!

[mickey22]

bonjour samia!
a propos de gbdx y aurait t'il quelqun qui aurait une mise a jour
en ce qui concerne ce stock

[SAMIA]

Gold Technical Pullback, China Demand, Euro PIIGS and Goldman Sachs Paulson Massive Positions



http://www.marketoracle.co.uk/Article18743.html

[SAMIA]

http://www.cnbc.com/id/15840232?video=1472754342&play=1

[SAMIA]

Berlin et Londres pourraient poursuivre Goldman Sachs

http://fr.news.yahoo.com/4/20100419/tbs-europe-goldman-7318940.html

[SAMIA]

Le Pentagone prédit un choc pétrolier imminent

Selon l'armée américaine, un troisième choc pétrolier menace. Il faut s'attendre, dit-elle, à ce que les surplus de capacité de production mondiale d'or noir disparaissent d'ici deux ans.

Une grave crise pétrolière se profile à l'horizon. Telle est la terrible prévision faite par l'armée américaine dans un récent rapport émanant de son état-major interarmées. «En 2012, les surplus de capacité de production de pétrole pourraient disparaître», indique le document militaire allant jusqu'à pronostiquer qu'«en 2015, le déficit de production pourrait être proche de 10 millions de barils par jour».

Or, 10 millions de barils par jour, c'est précisément ce que représentent les extractions de l'Arabie Saoudite, premier producteur mondial de pétrole. Un tel déficit de production, s'il advient, dépasserait, selon certaines estimations, de 10 % la demande mondiale de brut, qui s'établit à l'heure actuelle à quelque 86 millions de barils par jour, et devrait atteindre 90 millions de barils en 2015. Bref, l'armée américaine, considérée comme le plus gros consommateur de pétrole au monde, s'attend à une pénurie d'or noir imminente. Avec, selon elle, le corollaire suivant : le prix du baril devrait à nouveau franchir, dans les prochains mois, la barre symbolique des 100 dollars.

Autant le dire toute de suite : si cette hypothèse du Pentagone se réalise, c'est un troisième choc pétrolier qui attend l'économie mondiale au tournant. Et, toujours selon le Pentagone, celui-ci devrait être plus violent encore que les deux précédents. «Bien qu'il soit difficile de prédire avec précision les conséquences économiques, politiques et stratégiques qu'un tel déficit pourrait produire, celui-ci devrait plus que probablement réduire les perspectives de croissance tant dans les pays développés que dans ceux en voie de développement», ajoute le document, soulignant au passage que les Américains posèdent actuellement 250 millions de voitures tandis que les Chinois, quatre fois plus nombreux, n'en ont encore que 40 millions. «Un tel ralentissement économique ne ferait dès lors qu'aggraver les autres tensions non résolues, poussant les Etats fragilisés un peu plus loin sur la voie de l'effondrement, et pourrait avoir de graves répercussions économiques sur la Chine et l'Inde», pointe le Pentagone.

Notons que ce commentaire pessimiste de l'armée américaine sur le déclin de la production de pétrole intervient à un moment où la demande mondiale de brut, tirée par le développement de la Chine, est à nouveau en hausse.

En face, l'offre ne suit pas. Les nouveaux projets prennent du retard : les investissements dans de nombreux projets de forage ont été gelés à la suite de la culbute des prix du pétrole brut et de la crise financière. Et le rapport de pointer les conséquences d'un bouleversement économique : «Il ne faudrait pas oublier que la grande dépression a engendré un certain nombre de régimes totalitaires, qui ont recherché la prospéritééconomique de leur pays par la conquête brutale.» Un bien sombre tableau.

Sébastien Buron

http://trends.rnews.be/fr/economie/actualite/politique-economique/le-pentagone-predit-un-choc-petrolier-imminent/article-1194717656904.htm

[SAMIA]

CNBC Guest Flip Out, Calls Cramer Goldman Sachs' PR Man

http://edegrootinsights.blogspot.com/2010/04/cnbc-guest-flip-out-calls-cramer.html

[SAMIA]

Marc Faber: Accumulate Gold Over The Long Haul-CNBC

[SAMIA]

IS GREECE TODAY’S BEAR STEARNS?

http://pragcap.com/is-greece-todays-bear-stearns

[SAMIA]

Volcano could build into major business problem

Eruption disrupts travel; car rentals, trains boom; not everyone heartbroken at being stranded

http://finance.yahoo.com/news/Volcano-could-build-into-apf-3395836823.html?x=0&sec=topStories&pos=4&asset=&ccode=

[SAMIA]

"This is big," said Walter Todd, a portfolio manager at Greenwood Capital Associates LLC. "Reputationally, obviously, it is damaging. I'm still kind of in shock."

http://finance.yahoo.com/news/Goldman-Sachs-charged-with-rb-2893620804.html?x=0

[SAMIA]

SEC Charges Goldman Sachs With Fraud in Structuring and Marketing of CDO Tied to Subprime Mortgages
FOR IMMEDIATE RELEASE
2010-59

Washington, D.C., April 16, 2010 — The Securities and Exchange Commission today charged Goldman, Sachs & Co. and one of its vice presidents for defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter.
Additional Materials

* Litigation Release No. 21489
* SEC Complaint

The SEC alleges that Goldman Sachs structured and marketed a synthetic collateralized debt obligation (CDO) that hinged on the performance of subprime residential mortgage-backed securities (RMBS). Goldman Sachs failed to disclose to investors vital information about the CDO, in particular the role that a major hedge fund played in the portfolio selection process and the fact that the hedge fund had taken a short position against the CDO.

"The product was new and complex but the deception and conflicts are old and simple," said Robert Khuzami, Director of the Division of Enforcement. "Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party."

Kenneth Lench, Chief of the SEC's Structured and New Products Unit, added, "The SEC continues to investigate the practices of investment banks and others involved in the securitization of complex financial products tied to the U.S. housing market as it was beginning to show signs of distress."

The SEC alleges that one of the world's largest hedge funds, Paulson & Co., paid Goldman Sachs to structure a transaction in which Paulson & Co. could take short positions against mortgage securities chosen by Paulson & Co. based on a belief that the securities would experience credit events.

According to the SEC's complaint, filed in U.S. District Court for the Southern District of New York, the marketing materials for the CDO known as ABACUS 2007-AC1 (ABACUS) all represented that the RMBS portfolio underlying the CDO was selected by ACA Management LLC (ACA), a third party with expertise in analyzing credit risk in RMBS. The SEC alleges that undisclosed in the marketing materials and unbeknownst to investors, the Paulson & Co. hedge fund, which was poised to benefit if the RMBS defaulted, played a significant role in selecting which RMBS should make up the portfolio.

The SEC's complaint alleges that after participating in the portfolio selection, Paulson & Co. effectively shorted the RMBS portfolio it helped select by entering into credit default swaps (CDS) with Goldman Sachs to buy protection on specific layers of the ABACUS capital structure. Given that financial short interest, Paulson & Co. had an economic incentive to select RMBS that it expected to experience credit events in the near future. Goldman Sachs did not disclose Paulson & Co.'s short position or its role in the collateral selection process in the term sheet, flip book, offering memorandum, or other marketing materials provided to investors.

The SEC alleges that Goldman Sachs Vice President Fabrice Tourre was principally responsible for ABACUS 2007-AC1. Tourre structured the transaction, prepared the marketing materials, and communicated directly with investors. Tourre allegedly knew of Paulson & Co.'s undisclosed short interest and role in the collateral selection process. In addition, he misled ACA into believing that Paulson & Co. invested approximately $200 million in the equity of ABACUS, indicating that Paulson & Co.'s interests in the collateral selection process were closely aligned with ACA's interests. In reality, however, their interests were sharply conflicting.

According to the SEC's complaint, the deal closed on April 26, 2007, and Paulson & Co. paid Goldman Sachs approximately $15 million for structuring and marketing ABACUS. By Oct. 24, 2007, 83 percent of the RMBS in the ABACUS portfolio had been downgraded and 17 percent were on negative watch. By Jan. 29, 2008, 99 percent of the portfolio had been downgraded.

Investors in the liabilities of ABACUS are alleged to have lost more than $1 billion.

The SEC's complaint charges Goldman Sachs and Tourre with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Exchange Act Rule 10b-5. The Commission seeks injunctive relief, disgorgement of profits, prejudgment interest, and financial penalties.

# # #

For more information about this enforcement action, contact:

Lorin L. Reisner
Deputy Director, SEC Enforcement Division
[phone]

Kenneth R. Lench
Chief, Structured and New Products Unit, SEC Enforcement Division
[phone]

Reid A. Muoio
Deputy Chief, Structured and New Products Unit, SEC Enforcement Division
[phone]


http://www.sec.gov/news/press/2010/2010-59.htm

[SAMIA]

Goldman Sachs plonge de presque 10%

Le titre Goldman Sachs chutait vendredi à la Bourse de New York à l’annonce des poursuites entamées par les autorités boursières américaines, la SEC, pour « fraude », lâchant 9,88 % à 166,06 dollars à 14H54 GMT.


La banque Goldman Sachs poursuivie pour fraude

Le gendarme de la Bourse américaine, la SEC, a annoncé qu’elle poursuivait la banque d’affaires américaine Goldman Sachs pour « fraude » sur la vente de titres d’investissement liés à des crédits hypothécaires à risque, dits « subprime ».

[SAMIA]

FINALLY

SEC accuses Goldman Sachs of fraud in failing to disclose conflict in mortgage securities

The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.

The Securities and Exchange Commission announced Friday civil fraud charges against the Wall Street powerhouse and one of its vice presidents. The agency alleges Goldman failed to disclose that one of its clients helped create -- and then bet against -- subprime mortgage securities that Goldman sold to investors.

Investors in the mortgage securities are alleged to have lost more than $1 billion, the SEC noted.

The Goldman client implicated in the fraud is one of the world's largest hedge funds, Paulson & Co., which paid Goldman roughly $15 million for structuring the deals in 2007.

Goldman Sachs shares fell more than 10 percent after the SEC announcement.

The civil lawsuit filed by the SEC in federal court in Manhattan was the government's most significant legal action related to the mortgage meltdown that ignited the financial crisis and helped plunge the country into recession.

A Goldman Sachs spokesman didn't immediately return a call seeking comment.

http://finance.yahoo.com/news/SEC-accuses-Goldman-Sachs-of-apf-1523020722.html?x=0&sec=topStories&pos=main&asset=&ccode=

[SAMIA]

Sprott Has Purchased About 9 Tonnes of Gold Bullion This Week

Posted by Jesse
03 March 2010

The Sprott Physical Bullion Trust (PHYS) is now holding 286,870 ounces of gold, with a market value of $327,003,510. The estimated net proceeds of their IPO are approximately $390,000,000, possibly higher depending on total fees for the IPO and initial bullion purchases.

They have now purchased 8.923 tonnes of gold bullion since last Friday (at 32,150.746 Troy ounces per metric tonne).

The total units outstanding are 40,000,000 for a Net Asset Value of 9.50 including cash and bullion. With the price of the Trust closing at 9.96 today, it is at about 4.85% premium according to their website.

By way of comparison, the Central Gold Trust (GTU) closed at a premium of 8.2%. This is on the high side, reflecting gold's recent run higher, and a flight to safety over recent concerns regarding sovereign debt. Gold has reached record prices in the euro and the British pound.

It will be interesting if we can see identify the drawdowns in the inventories that sourced this gold, wherever they may be. There are those who contend that the supply is coming from the unallocated inventories of bullion banks who are engaging in a kind of 'fractional reserve' gold selling to their customers.

If Your Gold Is at an LBMA Bank, You May Be Just an Unsecured Creditor by Adrian Douglas. http://www.gata.org/node/8388

Let's see if the price of spot holds its levels after this unusual level of bullion purchasing in what is reputed to be a tight market.

Posted by Jesse at 8:45 PM
http://jessescrossroadscafe.blogspot.com/2010/03/sprott-has-purchased-about-9-tonnes-of.html

[SAMIA]

Sprott speaks out.

http://www.cnbc.com/id/15840232?video=1469756672&play=1


PHYS. Check it out.

Sprott was on CNBC today. It's getting noticed.

Read what MF had to say...

http://www.fool.com/investing/general/2010/04/13/everybody-out-of-the-gold-pool.aspx

At the same hearing, GATA chairman Bill Murphy presented allegations of gold and silver price-suppression by bullion banks such as JPMorgan Chase (NYSE: JPM) and HSBC (NYSE: HBC). Revelations from London metals trader (turned whistleblower) Andrew Maguire heaped additional corroboration onto evidence that GATA has been building for more than a decade. As a result, I urged investors to give careful consideration to their choice of bullion investment vehicles, and pointed out that the custodians of popular proxies like the SPDR Gold Trust (NYSE: GLD) and the iShares Silver Trust (NYSE: SLV) are the very same bullion banks alleged by GATA to maintain massive short positions on the COMEX.

Keep your head above water
If you hold unallocated gold or silver bullion certificates issued by one of the major bullion banks, I urge you to consider that this segment of the market may collectively lack an adequate physical supply of metal to satisfy claims, in the event that any significant proportion of investors tender their paper certificates for physical bullion.

If the alleged leverage pervading the over-the-counter (OTC) markets and the futures exchanges is ground to a halt by increasing physical demand, the scarcity of supply will become more pronounced still. Just as the banks essentially wagered that mortgage values would never decline, it seems that a similarly dangerous wager may yet be on the table: a bet that gold and silver investors will never call the bluff of a massive paper-based shell game.

If you're swimming in an unallocated bullion pool, I recommend climbing out before lightning strikes the water. For investors seeking bullion exposure through vehicles that do explicitly state the nature of their holdings, in ways that alleviate these sorts of concerns, I continue to suggest Central Fund of Canada (AMEX: CEF) and the Sprott Physical Gold Trust ETV (NYSE: PHYS). If you have any concerns or questions relating to this developing story, please post them in the comments section below, or follow my Motley Fool CAPS blog for ongoing community discussion.

[Den]

GOLD chart
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more upside coming

[SAMIA]

Recovery? There's No Recovery! The U.S. Is Completely Screwed! - Howard Davidowitz

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Davidowitz: Wall St.-D.C. Bigwigs "Buried Our Country ... They Sold Us Down the River"

http://finance.yahoo.com/tech-ticker/davidowitz-wall-st.-d.c.-bigwigs-%22buried-our-country-...-they-sold-us-down-the-river%22-463509.html?tickers=c,xlf,jpm,gs,ms,^gspc,^dji