Europe Awash in anti austerity protests

this as Moody's is likely to soon cut Spain's credit and credit spreads in the PIIG countries blow out. This could put a damper on Wall Street. http://www.npr.org/templates/story/story.php?storyId=130208334&f=1001&sc=tw&utm_source=twitterfeed&utm_medium=twitter

The Rallying cry in gold continues

Dec contract up another $4+
My only concern is short term correction potential, though with the strong momentum the expected correction will likely be brief. The race for currency devaluation is on, on both sides of the Atlantic and will benefit gold and silver. Jim Sinclair's near term target of $1600 seems quite achievable. Pay no attention to those warning that gold is in a bubble that will soon pop. Gold still needs to exceed $2000 to match inflation adjusted all time highs of 30 years ago.

Obama needs to stop blaming others

Now Fox News is to blame for the nations ills. http://read.bi/bwG72j

TechCrunch sells out to AOL

http://nyti.ms/c46uXK  Question now, will AOL dumb it down and ruin TechCrunch.

A Casey Research Remark about Gold

Here's a memo from Casey Research. I don't know if this comes to pass in the current political climate, but who knows. One thing is certain: the rise in gold has got to be a clear embarrassment to the powers that be and those who are addicted to paper instruments.

"I hesitate to bring it up, but I do think that it’s only a matter of time before the government decides that gold’s role as a barometer on its dysfunctional fiscal and monetary policies is becoming a real problem and decides to act. Unhappy with the results being revealed by gold, they will be faced with two choices – fix the underlying problems or disable the barometer. As the latter will be far easier to accomplish, literally with some overnight administrative rule change voted on by no one, that has to be the logical choice.

I don’t see it happening imminently, but that, too, is something we’ll be watching closely.

Until tomorrow…

David Galland
Managing Director

Casey Research"   

Gold - another day, another rally

Here's a happy picture from Zero hedge

Apple

Briefing.com says market rumor is $AAPL COO Tim Cook could be named $HPQ CEO later today. Do you believe that? We'll see.


Edit: the buzz now is the Cook is not leaving.  Why would he? He has the chance to eventually run the company and would lose millions if he left for HPQ.

Gold ATM sure to make a mint

These gold dispensing machines will make their way to the US very soon.

DNDN shares roiled

by Medicare questions ---> http://bit.ly/aMBtZX

Dow 11k soon - perhaps this week

There's a short term bullish bias to the stock market, but remain well
hedged.  The market seems intent on hitting Dow 11k. So long as the
Fed is seen as continuing its quantitative easing, it's dangerous to
be short unless you have some sort of an edge.

Dow 38,000?

Here's a bullish prediction.... http://www.bloomberg.com/news/2010-09-27/dow-super-boom-will-drive-average-to-38-820-stock-trader-s-almanac-says.html

Barrick Sees $1500 gold

The writing is on the wall.  The bullish case continues.http://www.reuters.com/article/idUSTRE68Q1QF20100927

Foreclosure fiasco.

First, i have no idea why the RSS feed is sending out posts from 2008. Sorry for any inconvenience.

Read about the latest foreclosure shenanigans.. http://www.businessweek.com/news/2010-09-27/jpmorgan-based-foreclosures-on-faulty-documents-lawyers-claim.html..

Twitter Feed

I have moved over to Twitter. I am keeping this blog for longer posts. If you would like to follow my market musings up to the minute, you can find me on Twitter at @Jkings1

Subscriptions

The subscription service is now closed to new subscribers. I don't have the time or energy to keep up with new subscribers, questions, complaints, etc. I will still be servicing subscribers with my most pertinent of messages and alerts.

Still Here

I've been quite ill for the last couple of years, so it has been some time since I've posted. From time to time I will be chiming in. The end game is rapidly approaching. Be prepared. -jimk

My Book on Coins and Precious Metals up on Amazon

Here's the link... http://tinyurl.com/c9lpxv

We Remain on the Brink

If anything, the $700 bln rescue package for financial institutions may temporarily reduce market volatility over the next few weeks. That's assuming it quickly passes. We would be surprised if it didn't. Yes, Hank Paulson told the boys and girls on the Capitol Hill leadership squad a scary campfire story, complete with Ben Bernanke going "boo" with a flashlight to his face and we've got the biggest blowout to the federal budget -- really to any government budget in the history of mankind.

Bottom line:

Our expectation for the high risk of an autumn systemic failure remains intact. Paulson and cohorts have actually upped the ante....

On The Brink

An acquaintance by the name of Sue, as in Sue Nami has appeared at the
door of the financial system. Sue is one of those run around Sue
types -- sure to mess with the heads of plenty of ill prepared
investors.

AIG is in a heap of trouble and could spark a market tsunami as soon
as tomorrow unless it raises upwards of $75 bln. Why? It has been
downgraded by Fitch, Moody's and S&P with promises of further
downgrades.

The sums of money are vast. We've gone from hearing figures like $40
bln over the weekend for a loan to tide AIG over to numbers today
topping $75 bln with perhaps a consortium of banks providing the money
led by JP Morgan. This would be in addition to NY State's regulatory
move to allow AIG to tap $20 bln in funds trapped in AIG subsidiaries.
But it's the ratings action this evening that shall prompt a do or
die gambit in the next 24 hours, or so. the NY move seemed like a stay
from the financial gallows, but it's largely moot now.

Why would JPM's Dimon and various friends and family in the banking
world wish to loan so much to crazy uncle AIG? The first answer would
be stave off meltdown that could bring everyone down. The debt
downgrades by the credit cos are a default triggering event in the
highly leveraged, multi trillion dollar world of credit default swaps.

The Fed has thus far resisted being the lender of last resort in this
situation. Why not the Fed? A loan of that magnitude would put into
question the so called implied AAA rating of Uncle Sam. Yes indeed,
we kid you not. Swaps on 5 yr treasuries jumped.....

You Can't Say We Didn't Warn You

We're actually quite surprised by BofA's move to buy Merrill for $44 bln. What kind of back door guarantees ala Countrywide did BofA get for this latest deal, or is it just a clean stock for stock swap.

AIG needing a $40 bln loan from the Fed (U.S. taxpayers)? Yikes.

Lehman going under? Double Yikes.

We did warn of major troubles ahead in the market... subscribers have been kept up to date. We feel systemic seizure and collapse still lie ahead.

In the last post below on Fannie and Freddie, there's a link to subscribe. As we told those folk who weren't interested in paying for proprietary perspective - Good Luck!