Filed under: Major Movement , Competitive Strategy , Barrick Gold (ABX) , Commodities , Federal Reserve Back in the late 1970s, the Hunt brothers from Texas tried to corner the silver market . That drove prices to $48 an ounce. Now, 31 years later, silver is shooting higher again. The March silver futures contract closed at $32.296 per ounce , up 72 cents. Since gold is expensive, investors are turning to silver to hedge against inflation. Many fear that the Federal Reserve will not be able to control the spike in commodity prices. The Fed is buying $600 billion of treasuries and keeping interest rates near zero. Continue reading Silver Near a 31-Year High Silver Near a 31-Year High originally appeared on BloggingStocks on Sat, 19 Feb 2011 12:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments
Tag: reckoning
More China Real Estate Bubble: Ghost Mall Edition
In the video below, Bloomberg’s Paul Allen visits the New South China Mall in Dongguan, China, on the southeast coast of the country, roughly midway between Guangzhou and Hong Kong. Once heralded as “the largest mall in the world, bustling with customers,” the mall is now overwhelmingly desolate, just “floor upon floor of emptiness.” This More China Real Estate Bubble: Ghost Mall Edition originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
Illinois is No Peter Pan
“I’ll never grow up, never grow up, never grow up, Not me!” – Peter Pan, Lyrics from play “I knew Peter Pan and you’re no Peter Pan.” – Vice-Presidential candidate Lloyd Bentsen, (sort of), 1988 “Top Illinois Democrats have agreed to push a plan that would temporarily boost income taxes by 75 percent and double Illinois is No Peter Pan originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
The Economic Flop that Was 2010
The year is almost over. Time to write the obituaries. What kind of year was it? A flop. A failure. A loser. Just like we said it would be. It was a “year that fizzled,” writes David Leonhardt in The New York Times. It was the year that the economy started to recover and then The Economic Flop that Was 2010 originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
Investors to Silver: “Let’s Get Physical”
The scramble for physical gold and silver is intensifying. People increasingly want to own the real thing, and not some paper substitute, all of which comes with counterparty risk. This conclusion is apparent from the fact that the futures prices for gold and silver have moved into “backwardation.” Allow me to explain… Because gold is Investors to Silver: “Let’s Get Physical” originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
Debt Delenda Est
The subject is debt; it needs to go away. Debt was the market’s bête noire, this week and last. In Europe, it snatched up the Irish and carried them off. Then it attacked the Portuguese. Everyone knew the periphery states were going broke. Their cost of borrowing soared. Then, when the search parties reached them, Debt Delenda Est originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
Markets React to the Death of Néstor Kirchner
The city is deserted. Shops are closed. Cafés are empty. Parks and playgrounds stand idle, their trees and swings blowing gently in the soft spring breeze. Today is census day in Argentina, when 650,000 professional counters hit the pavement to tally up the “whats,” “whens” and “wheres” of their fellow Argentines. Folks have been ordered Markets React to the Death of Néstor Kirchner originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
The Last Americanos
A disturbing bit of news emerged on the 29th of September. Meg Whitman’s campaign for governor of California was body-checked by a damaging news report just weeks before the election. It was alleged that she had someone in her employ who had not fully complied with all the laws of this great Republic…someone who toiled The Last Americanos originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
Global Food Crisis: 6.8 Billion Served…and Counting
Paper is out; stuff is in. That’s what the markets are telling us right now. The dollar, that esoteric, floating abstraction upon which the financial world erects its sandcastle economies, plumbed a new seasonal low this week, with the dollar index flirting dangerously with its support level of 77. “Stuff,” as measured by the CRB Global Food Crisis: 6.8 Billion Served…and Counting originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
After China, the Fed’s Now the Largest Owner of US Treasuries
Just this week an inevitable milestone came to pass, the Federal Reserve surged ahead of Japan as the second largest owner in the world of US debt… second only to China. Of course, the funds used to generate that massive debt position have only been made possible through the smoke and mirrors of quantitative easing. After China, the Fed’s Now the Largest Owner of US Treasuries originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
Government Workers: The New Upper Crust?
We’re on zombie watch… They’re everywhere…but especially here in the Washington metropolitan area. Zombies get their money from the government – directly or indirectly. Or some other perk…some edge…some benefit. Just open The Washington Post. Skip the international news, which is nothing but humbug and claptrap…usually having to do with Iraq, Afghanistan or Israel. Go Government Workers: The New Upper Crust? originally appeared in the Daily Reckoning . The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today’s markets. Its been called “the most entertaining read of the day.”
