By Felix Imonti
http://oilprice.com/
Saudi Arabia has gone on the offensive against Iran to protect its interests. Their involvement in Syria is the first battle in what is going to be a long bloody conflict that will know no frontiers or limits.
Axel Merk
Merk Hard Currency Fund
To print or not to print? Odds are that Fed Chairman Bernanke has been contemplating this question while drafting his upcoming Jackson Hole speech. The one good thing about policy makers worldwide is that they may be fairly predictable. As such, we present our crystal ball as to what the Fed might be up to next, and what the implications may be for the U.S. dollar and gold.
A few days ago we promised to to anaylyze Governor Romney's Fox News exclusive. Romney seems to be concerned how stopping spending, speciifically defense spending will hurt the economy; in fact, Romney embraces the idea of more of the same.
Earlier in our news section, we submitted a piece from Business Insider that analyzed a story from Fox News. They were giddy of Romney’s tax and spending plan. Here are the actual quotes from the analysis:
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By Robert Denner
Well it came one day later than I was expecting, but it seems to be upon us now. I said last Thursday that we’d end the week up 75 or so (turned out to be 65) and that this week we would enter a period of possibly severe weakness in the markets.
It seems to be gathering steam this afternoon. I will hit the highlights as they are getting alarming, but still far from panic time.
By Robert Denner
Been trying to come up with a good analogy that better describes what is happening around us, something better than the age old frog in boiling water routine; because what is happening to us is so much more insidious and sly. I was watching a discovery channel special a few years ago regarding how elephants are rounded up and eventually trained to be domesticated draft animals in Africa.
John Williams recently stated:
Despite November 9th’s historic high gold price of $1,421.00 per troy ounce (London afternoon fix) and the multi-decade high silver price of $30.50 per troy ounce (London fix) on December 7th, gold and silver prices have yet to approach their historic high levels, adjusted for inflation.
The earlier all-time high of $850.00 of January 21, 1980 would be $2,391 per troy ounce, based on November 2010 CPI-U-adjusted dollars, and would be $7,840 per troy ounce in terms of SGS-Alternate-CPI-adjusted dollars.
Yesterday the world witnessed a new and more severe outbreak of violence in Greece. Youths and union members clashed with police in a riot complete with tear gas, flash grenades, molotov cocktails, and tens of thousands of protestors.
What, exactly, were they rioting about? The answer is actually quite simple. They don't like the austerity being imposed on them by a government desperately seeking to find some sort of fiscal discipine, something to which neither the government nor the public sector workers are accustomed.
In this video, Vincent Reinhart, resident scholar at AEI, debates the relative merits of QE2 with Michael Cloherty, head of US interest rate strategy at RBC Capital Markets. Reinhart gives his qualified approval for the Fed's policy, noting that with high unemployment and low, declining CPI numbers, the Fed has to do something and QE2 is "the only game in town".
