EurAnalysis

wow..interesting..looks like iran sanction the dollar..haha

http://quotes.ino.com/chart/index.ht...O&t=&a=&w=&v=s

http://ca.news.yahoo.com/blogs/daily...211407109.html

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The fifth annual survey of 12 countries put Canada ahead of New Zealand, Australia, France and South Africa. Other rankings in order were Portugal, Spain, the United States, United Arab Emirates, Singapore, Hong Kong and China.

British expats valued Canada's natural beauty, multicultural society, universal health care and security.

http://news.goldseek.com/BullionVault/1330548610.php

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The FATTEST PRIZE in the world's biggest lottery, El Gordo – the "Fat One" – just keeps getting fatter, according to its promoters.

But even the fattest total of prizes to date – some €2.5 billion at Christmas 2011 – looks a tin-ribs next to El Tro, the storm of money now raining down on Europe's banks.

Wednesday's Long Term Refinancing Operation took the grand total of giveaway money to more than €1 trillion, pumped out by the European Central Bank and known by the acronym LTRO. It is christened El Tro by us here at BullionVault today via the Catalan for "thunder". Because that's just what people keep calling it – El Tro.

"You can't argue with [that]," reckons one Credit Agricole analyst, nodding at the €530 billion which El Tro will hand to commercial banks when the latest chunk of cheap-money loans is settled on Thursday. But he should add two exclamation marks (¡the first upside down of course!) and do PR for the Spanish lottery's El Gordo instead.

Because El Tro – Europe's money storm – demands a far stronger sales pitch than that.

In just two operations in barely 11 weeks, the ECB has created an additional 10% of the Eurozone's entire money supply, lending out €3,084 for every soul in the 17-nation union. Throw in the non-Euro banks scrabbling to scoop up El Tro's gifts on Wednesday, and this latest offer was met by some 800 different institutions. Even the cash raised from shareholders by all US and Eurozone banks added together during the crisis of 2007-2010 fails to match the size of El Tro's gifts.

And make no mistake: the LTRO is a gift. Even if price-inflation subsides to average the ECB's annual target of 2.0% between now and start-2015, the central bank will make a loss of €44.7bn in real terms. Inflation stuck (or pushed above) the latest reading of 2.6% would cost the Frankfurt lenders nearer €62bn...a full 6% of the €1,018 billion now lent out in total.

Any bank looking to book an instant profit meantime can simply stick the cash into 3-year government bonds and turn their 1.0% annual cost into 1.10% with Finnish debt, 1.55% with Belgian debt...or a massive 5.41% per year with Italian debt. Hell, you could buy German Bunds and make risk-free money on anything above 6 years to maturity.

Excellent Rod!

Ron Paul Tells Bernanke He Killed The Dollar, Silver Coin In Hand
By Agustino Fontevecchia
Forbes
Wednesday, February 29, 2012

http://www.forbes.com/sites/afonteve...-tells-bern...

Fed Chairman Ben Bernanke had an interesting morning over on Capitol Hill, facing the ire of Ron Paul and receiving Democratic praise from Barney Frank. Bernanke was testifying before the Committee on Financial Services, where he said the economic recovery continues but remains frail, but was put on the spot by Ron Paul, who pulled out a silver eagle and accused him of debasing the currency and destroying America's wealth.

Ron Paul was in full campaign mode. So was Barney Frank. Bernanke was caught in the middle.

In what was supposed to be a Q&A session, the Fed chief essentially sat down and listened to one side bash him and the other love him. Frank took the floor after some softballs by Committee Chairman Spencer Bachus, praising Bernanke's tenure as Fed Chairman and pointing to continuing job growth.

It was Ron Paul, though, who took the day. In what is usually the most heated and interesting exchange of Bernanke's excursions to Congress, the Fed chairman was forced to sit down and listen as Ron Paul scolded him for "debasing" the currency and "destroying" the wealth of millions of Americans.

Ron Paul first asked Bernanke if he did his own grocery shopping, to which the Fed Chairman responded with a yes. Paul immediately cut him off and said "no one believes the 2% inflation rate," claiming it was actually closer to 9%. "Someone is stealing wealth," said Ron Paul, in full campaign mode.

He then pulled out a silver eagle, a silver coin that has nominal face value of one dollar that is legal tender. Ron Paul told Bernanke that in 2006, as he took the top spot at the Federal Reserve, an ounce of silver bought about 4 gallons of gas. Today, said Paul, it buys about 11.

"That's preservation of value," yelled an excited Ron Paul, before accusing Bernanke of loving paper money and begging him to "legalize competing currencies." Bernanke responded by explaining that anyone can hold whatever currency they want and told Paul he'd gladly help him figure out how to hold euros, yen, or whatever he pleases.

Paul once again lashed out, telling Bernanke "the record of what you've done is destroy the currency," before saying he still can't pay his bills or taxes with silver eagles, just as his time was running out and he was forced to forfeit the floor to California's Maxine Waters.

As usual, Ron Paul put the focus on what he considers to be the illusory essence of fiat or paper money. This time around, though, Paul didn't let Bernanke respond, making it a one-way conversation.

Gold continued to decline through the session, down 3.5% to $1,726.50 an ounce while 10-year Treasuries saw rates firm a little to 1.98%. All three major equity indices were in the red, despite major stocks like Apple and Microsoft hitting new intraday all-time highs.

http://kingworldnews.com/kingworldne...eam_Media.html

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Here's Benny !!!

Today legendary trader and investor Jim Sinclair told King World News that today’s action was a cover-up by the Federal Reserve and the mainstream media. Sinclair also laid out for KWN readers globally the exact sequence of the cover-up and how it was orchestrated. Here is what Sinclair had to say about the shocking events that took place today: “The power behind the equity markets right now is liquidity and everybody knows it. It’s not improving earnings and it’s clearly not a broad globally improving economy, but rather improving liquidity.”





http://www.forexfactory.com/../../.....onWorldMap.pnghttp://www.forexfactory.com/../../.....nt-Overlay.png


http://kingworldnews.com/kingworldne...peimage_24.png

Jim Sinclair continues:



“If, in fact, what Bernanke attempted to tell the investment world today, that QE may not be necessary because of a modest improvement in the statistics of unemployment, if that was truly to be believed, then the stock market should have been off 800 points while gold was gold was down $100. Because the same thing moving the stock market is what’s moving the metals and that is pure liquidity.



When asked about Jean-Marie Eveillard’s comments earlier today on KWN that central banks were desperate and intervening in the gold market, Sinclair responded, “Let’s go by the intervention that started out in the morning....



Continue reading the Jim Sinclair interview below...



“First you intervene via the mouth. Now, what happened over in Europe? The ECB made $712.4 billion in low interest loans to the member banks. This is the second round of massive credit infusions that has been credited with the easing of the eurozone debt crisis.



So that is quantitative easing and we know the money that’s been coming into the ECB has been coming in from two places. It’s been coming in from the IMF and from swaps done by the US Federal Reserve.



(This money flows, in order, through these entities) Federal Reserve (to the) IMF, IMF (to the) ECB, ECB (to the) member banks. (This is) pure QE on a global scale.



Now at the same time this headline is being run, an interview with the Federal Reserve Chairman, Bernanke, states that ‘Due to the modest improvement in housing, it is possible that our reliance on QE may not be as necessary.’ Immediately that takes gold off $30, but that $30 was intervention if I’ve ever seen it.



The next step (in the intervention) because we are back at recovery highs (during live trading), your algorithms are all looking for a reason to sell. (Action) tips off the algorithms and down it (gold) goes. It is an absolute contradiction in terms that the equity market could turn in a ho-hum day of minus 50 and gold be down close to $100 today.



How many listeners have even seen the $712.4 billion of low interest loans that went from the ECB to the member banks today? It’s there, but you are going to have to look real hard to find it.



Today does qualify as one of the biggest injections of liquidity into the system in the history of the system. Today was a cover-up by the US Federal Reserve and by the mainstream media of one of the largest injections of liquidity into the system that has ever occurred.”



This is without a doubt one of the most timely and powerful audio interviews ever with Jim Sinclair. Sinclair is the last of his kind. Many KWN readers remember that his father, Bert Seligman, was business partners with legendary trader Jesse Livermore. There isn’t anyone left from that group, just Sinclair.

http://quotes.ino.com/chart/index.ht...O&t=&a=&w=&v=s

http://theeconomiccollapseblog.com/a...-induced-comas

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20 Economic Statistics To Use To Wake Sheeple Up From Their Entertainment-Induced Comas



http://theeconomiccollapseblog.com/w...as-250x187.jpgThe Dow has closed above 13,000 for the first time since 2008, and the mainstream media is declaring that a strong economic recovery is underway. Barack Obama is telling anyone who will listen that his economic policies are a huge success, and U.S. consumers are piling up astounding amounts of new debt.

Unfortunately, this euphoria about the economy will be short-lived. None of the long-term problems that are destroying the U.S. economy have been solved. In fact, there are dozens of statistics that can be quoted that prove that the U.S. economy is in far worse shape than it was when the recession supposedly ended. If dramatic changes are not made very rapidly, our nation is going to smash directly into an economic brick wall.

Sadly, most Americans are so addicted to entertainment that they have no idea what is about to happen. Most of them are "sheeple" that are content to trust that the "experts" know exactly how to fix our problems as they continue to enjoy their entertainment-induced comas. After all, it is much easier to turn on "American Idol" or "Dancing With The Stars" than it is to think about debt ratios and monetary policy. But that doesn't mean that we should not try to wake the sheeple up. It just means that it will not be easy.

If you went to the doctor tomorrow and he told you to take some little blue pills without telling you anything else, would you take them?
Of course not.

You would want to know what the little blue pills are for.

But if your doctor told you that you have a deadly incurable disease that is about to kill you, and that the little blue pills are the only cure, then you would definitely be interested in taking them.

Well, it is the same way with the American people. Until they understand just how sick the economy is, they will not be interested in fighting for a solution.

We need to show all the sheeple out there that the U.S. economy has terminal cancer and is headed for death.

We need to show them that the future of our children and our grandchildren is literally being destroyed.

Way too many Americans are sitting around waiting for the government to save them.

It isn't going to happen.

It is up to those of us that are awake to wake up those that are asleep.

And there are many out there that think that they are awake that are only partially awake.

One very famous author once wrote that "people are destroyed for lack of knowledge", and that is exactly what is happening in America today. Most Americans simply don't understand what is happening economically, politically, socially, morally or financially in this nation.

Please help me wake the sheeple up.

The following are 20 economic statistics to use to wake sheeple up from their entertainment-induced comas....

The following are 20 economic statistics to use to wake sheeple up from their entertainment-induced comas....
#1 The United States has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.
#2 The European Commission has formally declared that Europe has now entered another recession. German banks are leveraged 32 to 1 and the European financial system is rapidly approaching a nightmare. Lehman Brothers was only leveraged 30 to 1 when it finally collapsed.
#3 There are clear signs that economic activity is also significantly slowing down in the United States. For example, new orders for goods manufactured in the United States experienced the biggest drop in three years in January.
#4 U.S. consumers are busy racking up staggering amounts of debt once again. Total consumer debt rose at an annual rate of 9.3 percent in December. It is now sitting at a grand total of 2.498 trillion dollars.
#5 The U.S. Postal Service has announced plans to eliminate 35,000 more jobs.
#6 There are more unemployed Americans than there are people living in the entire nation of Greece.
#7 The percentage of American men that have jobs is near an all-time record low.
#8 Right now, there are 88 million working age Americans that do not have jobs and that the government says are not looking for jobs.
#9 The average duration of unemployment in the United States is nearly three times as long as it was back in the year 2000.
#10 In January 2009, there were 2.6 million "long-term unemployed workers" according to the federal government. Today, there are 5.6 million.
#11 The average price of a gallon of gasoline in the United States has risen by 14 cents in just the past week, and the average price of a gallon of gasoline in the state of California is now an astounding $4.29. Sadly, the price of gas is expected to continue rising over the next few months.
#12 The U.S. housing market continues to struggle deeply. Home prices in the 4th quarter of 2011 were four percent lower than they were during the 4th quarter of 2010. Overall, U.S. home prices are 34 percent lower than they were back at the peak of the housing bubble.
#13 Large numbers of Americans are putting off basic health procedures due to the declining economy. Just consider the following example from a recent Huffington Post article....

Americans between the ages of 50 to 64 got 500,000 fewer colonoscopies, or screenings aimed at detecting colon cancer, during the recession, compared to the two years before, according to a recent study from researchers at the University of North Carolina's medical school.

#14 The number of Americans on food stamps has increased by almost 50 percent since Barack Obama first took office.
#15 Right now, 48 percent of all Americans are considered to be either "low income" or "living in poverty".
#16 The U.S. government is stealing about 150 million dollars from our children and our grandchildren every single hour of every single day.
#17 If Bill Gates gave all of his money to the U.S. government, it would only cover the U.S. budget deficit for about 15 days.
#18 Since the Federal Reserve was created, the U.S. dollar has declined in value by more than 95 percent and the U.S. national debt has gotten more than 5000 times larger.
#19 Approximately 25 million American adults are living with their parents. Most of them are doing it for economic reasons.
#20 According to a new Politico poll, only 30 percent of all Americans believe that the next generation will be "better off economically" than the previous generation.
For many more current statistics about the U.S. economy, check out the interesting facts which I documented in this previous article.
Thankfully, there are others out there such as trends researcher Gerald Celente that are tirelessly working to sound the alarm. Celente is convinced that the U.S. financial system is rapidly heading for a disaster. Just consider the following quotes from Celente in a recent USA Today article....

"2012 is when many of the long-simmering socioeconomic and political trends that we have been forecasting and tracking will climax," Celente noted in his Top 12 Trends 2012 newsletter. In an interview he added: "When money stops flowing to the man on the street, blood starts flowing in the street."

Even some politicians on the state level are deeply concerned about the possibility of a massive financial meltdown.
For example, a bill has been introduced in Wyoming that would set up "a state-run government continuity task force" which would develop plans for how Wyoming would deal with potential disasters such as a "complete meltdown of the federal government", an economic collapse or a major disruption in food and energy supplies....

State Rep. David Miller, R-Riverton, has seen the national debt rise above $15 trillion and protest movements grow around the country. Wealthy Americans are fleeing the country, he says, and confidence in the dollar has taken a hit around the world.
If America’s economic and social problems continue to escalate and spiral out of control, Miller said, Wyoming needs to be ready. So, he’s introduced legislation to create a state-run government continuity task force, which would study and prepare Wyoming for potential catastrophes, from disruptions in food and energy supplies to a complete meltdown of the federal government.
It would even look at the feasibility of quickly providing an alternative currency in Wyoming should the U.S. dollar collapse entirely.

But for many Americans, the "meltdown" has already happened on a personal level.
Many are going to extreme lengths in an attempt to survive in this economy.
For example, one ex-police officer in Ohio got so desperate that he decided that it would be better to get arrested for bank robbery and be thrown in prison than to be homeless and living in the streets....

Former Columbus police officer Edward Pascucci had been jobless for more than a year and was facing homelessness last summer when he decided to rob a local bank. Making off with stacks of cash, however, never was his intention.
Pascucci told a federal judge on Thursday he’d run out of options, was facing “severe health problems” and opted to avail himself of the services offered by the federal penal system rather than live on the street.

Can you imagine that?
Can you imagine getting arrested just so that you could get free health care and wouldn't have to sleep in the streets?
Meanwhile, the Obamas are living the high life and seem to have developed a "let them eat cake" mentality. The following is from a recent article in The Daily Mail....

The Obama family just finished a luxury ski vacation in Aspen, Colorado. This comes on the heels of a Hawaiian Christmas vacation for the family that lasted a few weeks. The 2011 Hawaiian vacation cost the American taxpayers $4 million and a big increase from the 2010 bill sent to the American people for $2.5 million, according to the Huffington Post.
Over the past three summers, the Obama's have vacationed in the exclusive Blue Heron Farm in Chilmark, Martha's Vineyard in Massachusetts. President Obama has a reputation for hitting every golf course on this island vacation spot for the rich and famous.
There is nothing wrong with a President taking a modest vacation, but there is a problem when the political leader of America is taking frequent swanky vacations when average Americans are experiencing economic pain.

Shouldn't the Obamas be setting an example for the rest of us during these hard economic times?
Unfortunately, Barack Obama seems to believe that the worst of our economic troubles is now behind us.
If only that were true.
During this short-lived bubble of false hope, we should all be working hard to prepare for what is ahead.
A menacing storm is on the horizon and it will be here way too soon.
Let us wake up as many of the sheeple as we can while there is still time.
http://theeconomiccollapseblog.com/w...ep-440x313.jpg

http://theeconomiccollapseblog.com/a...ghts-out-of-us

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When Barack Obama first took office, an ounce of gold was selling for about $850. Today an ounce of gold costs more than $1700 an ounce.

It is not that gold is becoming so much more valuable. It is just that the U.S. dollar is losing value on a continual basis.

So why don't the U.S. government and the Federal Reserve quit flooding our economy with more paper money?

That is a very good question.

Sadly, our leaders seem to have a never ending addiction to more paper money and the American people are not demanding change.

On Wednesday, Federal Reserve Chairman Ben Bernanke told Congress that the Federal Reserve may have to implement even more stimulus measures in order to help the economy.

Of course such talk is utter insanity considering what Bernanke and his cohorts have already done to the monetary base over the past few years....
http://theeconomiccollapseblog.com/w...12-440x264.png
Thankfully, the vast majority of that money is still trapped in the financial system. If all of that money was floating around on the street inflation would be far worse.

Those of you that think that the surging stock market is a sign of "economic recovery" should realize that the market has been pumped up by huge amounts of funny money from the Federal Reserve. Just because the number of dollars circulating has increased does not mean that things are getting better.

There is much more to all of this of course, but what is important for the man and the woman on the street is the fact that when the Federal Reserve expands the money supply it is a tax on all of us and it makes all of us poorer.

So what do you think about the inflation tax and the reckless monetary policy of the Federal Reserve?

1.3.2012
As usual, time is GMT

10:00EUR France to Sell 3.5% 2026 Bonds
10:00EUR France to Sell 3% 2022 Bonds
10:00EUR France to Sell 3.75% 2019 Bonds
10:00EUR France to Sell 4.25% 2017 Bonds
10:00GBP Bank of England's Miles Speaks in Manchester
11:00EUR EU Liberal Leaders Meet Before Summit; Rehn Briefs Press
11:30EUR EU Officials Speak on Climate Policies at Conference
11:30EUR EU's Van Rompuy Briefs Press After Social Summit
12:00EUR EU Conservative Leaders Hold Pre-Summit Meeting
12:30EUR EU Socialist Leaders Hold Pre-Summit Meeting
13:00EUR Euro-Area Finance Ministers Meet in Brussels
13:30EUR Poland's Rostowski Speaks at Brussels Think Tank
15:00USD Fed's Bernanke Delivers Semi-Annual Monetary Policy Report
15:30USD "Fed's Raskin Speaks on Economic Outlook in Westport, CT"
16:00EUR EU Leaders Start Two-Day Summit in Brussels
17:30USD Fed's Lockhart Speaks on Economy and Banking in Atlanta
EUR EU's Barnier Gives Speech on Pensions
EUR EU's Almunia Speaks at Event in Bilbao
EUR EU Leaders Hold Summit in Brussels

That's called "Revenge Trading" A dangerous game indeed Surely you jest?

Well it wasn't exactly month end profit taking. It was caused by Bernanke saying "Good Morning" to the finance committee.
But hey, same result

Kno. Greek porn is not allowed here

Yep, the day is rife with EUR & USD econ news also... (Displayed times are CET (GMT+1)

Regardless of what it really was, that sensible comment made me wait until today to confirm a gold trade I was going to enter, so thankyou very much!

Other threads could do with a voice of reason like this (& like is regularly found on this thread), on others, some traders tend to get overly enthusiastic when things are going their way, and its difficult for newbies not to get caught up in it and then lose $ on nights like last night.

So thanks again, you have given me something else to think about at month end, and as far as I'm concerned the credit is yours for saving me from a short and ugly trade!!

http://goldswitzerland.com/index.php...year-day-2012/

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What happened to Gold?

By Alf Field

What happened to gold on 29 February 2012? The precious metal dropped from $1792 to a low of $1686 in one day!

http://goldswitzerland.com/wp-conten...AU29022012.jpg
How does this shape up with our Elliott Wave expectations?
The answer is that the market is tracking well in line with expectations. Before dealing with the current move, it is an idea to go over what our expectations are. What we know so far is that Intermediate Wave III started at $1523 and that we have a target of $4,500 for the end of Wave III. We also know that Wave III will consist of five regular waves which we will label 1 2 3 4 and 5. Regular waves 2 and 4 will be the anticipated 13% downward corrections described in my speech to the Sydney Gold Symposium. Link at: Symposium.net.au/Alf_Field/
Regular wave 1 will consist of 5 minor waves which we label (i) (ii) (iii) (iv) and (v). Waves (ii) and (iv) will be downward corrective waves one degree small than the regular waves. Thus they should be about half the magnitude of the 13% of the regular sized declines, say about 6%.
Minor wave (i) should consist of five minuette waves which we can label i ii iii iv and v. Again the minuette waves ii and iv will be downward corrective waves about half the size of the minor wave corrections of 6%. Thus the minuette corrections should be approximately 3%.

The following is the analysis of minor wave (i) showing the five minuette waves:
i 1523 to 1665 +142 +9%
ii 1665 to 1620 - 45 -2.7%
iii 1620 to 1765 +145 +9%
iv 1765 to 1706 - 59 -3.3%
v 1706 to 1792 + 86 +5%
(i) 1523 to 1792 +269 +17.7%
The two corrective waves are approximately 3% as expected. Waves i and iii are equal at 9% while wave v is almost exactly 61.8% of waves i and iii. This wave count is as perfect as one could wish for. Thus we can conclude that minor wave (i) was completed at $1792.
As described above, minor wave (ii) should be a correction of approximately 6%, but could range from 5% to 8%. A decline of 6% from the $1792 peak gives a target of $1685. In after hours trading yesterday gold reached $1686.
The Comex chart, however, shows a low point of $1696.
It is possible that the entire correction in minor wave (ii) occurred in one day. A rally followed by a further decline to test the $1685 area is a more likely outcome. An 8% decline would bring the $1650 area into play. If gold drops below this level we will have to consider other possibilities.
Once the bottom of minor wave (ii) is in place in a convincing fashion it will be possible to make some more accurate longer term gold price forecasts.
1 March 2012
Alf Field
Disclosure and Disclaimer Statement: The author has personal investments in gold and silver bullion, as well as in gold, silver, uranium and base metal mining shares. The author’s objective in writing this article is to interest potential investors in this subject to the point where they are encouraged to conduct their own further diligent research. Neither the information nor the opinions expressed should be construed as a solicitation to buy or sell any stock, currency or commodity. Investors are recommended to obtain the advice of a qualified investment advisor before entering into any transactions. The author has neither been paid nor received any other inducement to write this article.
1st March

Doesn't this really belong on another thread?

Your comments are welcome.