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… [...]

Yen Carry Lifts Risk Around The Globe In Quiet Overnight Trade

In a carry-trade driven world in which news and fundamentals no longer matter, the only relevant “variable” is whether the JPY is down (check) and the EUR is up (check) which always results in green equities around the globe and green futures in the US… [...]

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… [...]

How Gold Price Is Manipulated During The "London Fix"

There was a time when the merest mention of gold manipulation in “reputable” media was enough to have one branded a perpetual conspiracy theorist with a tinfoil farm out back. That was roughly coincident with a time when Libor, FX, mortgage, and bond m… [...]

The Average American Ferrari Buyer Is 47 Years Old; In China – Only 32

In China, 9 out of 10 billionaires are self-made, the highest percentage of any country (and by self-made we are unsure whether BusinessWeek’s Christina Larson means via entrepreurial spirits or government connected handout) but there is another fact t… [...]

Just The Right Amount Of Bad Overnight News Offsets Latest Taper Tantrum

Following yesterday’s latest Taper Tantrum, it was critical to get a smattering of bad global overnight news to provide the ammunition for the algos that not all in the world is fine and the easy monetary policy will continue indefinitely pushing stock… [...]

Is Obama The Second Coming (And Falling) Of Dubya?

A rhetorical question that was apocryphal a mere year ago, has emerged as a very realistic option: is Barack Obama the second coming of Dubya? Policy initiatives aside, in this case we simply look at the plunging popularity ranking of both presidents i… [...]

Frontrunning: November 13

Headline du jour: Granted ‘decisive’ role, Chinese markets decide to slide (Reuters) Desperate Philippine typhoon survivors loot, dig up water pipes (Reuters) Fading Japanese market momentum frustrates investors (FT) China’s meager aid to the Philippi… [...]

Is The ECB Implementing ZIRP or ZEURP: Zero European Union Return on Potential

  Inflation vs deflation vs stagflation The primary business of banks is lending. In a recession, not many people and businesses borrow, hence lending tends to be a poor business. In order to make money off of lending assets you need a reasonable… [...]

Hungover Markets Enter November With Quiet Overnight Session

After a blistering October for stocks, drunk on yet another month of record liquidity by the cental planners, November’s first overnight trading session has been quiet so far, with the highlight being the release of both official and HSBC China PMI dat… [...]