Venezuela Denies Goldman’s Gold Deal As Inflation Tops 54%

Today’s AM fix was USD 1,241.75, EUR 913.11 and GBP 760.45 per ounce. Yesterday’s AM fix was USD 1,250.75, EUR 923.88 and GBP 773.69 per ounce. Gold fell $4.10 or 0.33% yesterday, closing at $1,236.33/oz. Silver slid $0.17 or 0.86% closing at $19.6… [...]

“Wave Of Disaster” Threatens U.S. Mortgage Market

Today’s AM fix was USD 1,250.75, EUR 919.80 and GBP 767.99 per ounce.Yesterday’s AM fix was USD 1,250.75, EUR 923.88 and GBP 773.69 per ounce. Gold fell $6.70 or 0.54% yesterday, closing at $1,242.10/oz. Silver slid $0.17 or 0.85% closing at $19.85… [...]

“Wave Of Disaster” Threatens U.S. Mortgage Market

Today’s AM fix was USD 1,250.75, EUR 919.80 and GBP 767.99 per ounce.Yesterday’s AM fix was USD 1,250.75, EUR 923.88 and GBP 773.69 per ounce. Gold fell $6.70 or 0.54% yesterday, closing at $1,242.10/oz. Silver slid $0.17 or 0.85% closing at $19.85… [...]

Margin Debt Soars To New Record; Investor Net Worth Hits Record Low

The correlation between stock prices and margin debt continues to rise (to new records of exuberant "Fed's got our backs" hope) as NYSE member margin balances surge to new record highs. Relative to the NYSE Composite, this is the most &qu… [...]

A Bull Market In $1,000 Faucets As Home Equity Loans Soar

Submitted by Michael Krieger of Liberty Blitzkrieg blog, “People don’t want granite countertops — they want marble costing at least 25 percent more,” said Mroz, owner of Michael Robert Construction in Westfield, an affluent town… [...]

Frontrunning: November 25

Washington turns bond market upside (FT) China Air-Zone Move Expands Field of Islands Spat With Japan (BBG); Japan rejects China claim on airspace over disputed islands (FT) ‘Great Satan’ meets ‘Axis of Evil’ and strikes a deal (Reuters) Iran Pact Fac… [...]

Germany Doesn’t the Fed… Why Should We?

  Since the Financial Crisis erupted in 2007, the US Federal Reserve has engaged in dozens of interventions/ bailouts to try and prop up the financial system. Now, I realize that everyone knows the Fed is “printing money.” However, whe… [...]

Frontrunning: November 22

Wonder why: JPMorgan plans to keep pay roughly flat from last year (Reuters) – maybe this: Charles Schwab Warns “We Are In A Manipulated Market” Democrats overturn filibuster rule, increasing Obama’s power (FT) Day JFK Died We Traded Through Tears a… [...]

Guest Post: Take It To The Bank

Submitted by Jim Quinn of The Burning Platform blog, Reports like the recent one from SNL Financial – Branch Networks Continue to Shrink really get my goat. As I travel the increasingly vacant highways of Montgomery County, PA I’m keen… [...]

Three Post-Mortems On China’s Third Plenum

China’s Third Plenum has come and now truly gone, following the second, 20000 word “decision” which followed the spares initial communique, which contains much more promises and pledges about the future with a 2020 event horizon, so it is a fair bet th… [...]