High Frequency Traitor: February 2011

Sunday, February 27, 2011

GO MICKS !

The revolution has crossed the Med (and Europe to boot). In Ireland the Fianna Fail Party (who you will remember sold the next four generations of Irish into slavery to bail out some reckless banksters) has gotten massacred at the polls and will be leaving power in disgrace. The government will be taken over by the Labour and Fine Gael and their stated first objective is modifying the oppressive terms of the EU bankster bailout.

"Declan Ganley, the Irish businessman who led the 2008 No vote to the Lisbon Treaty, said Ireland must "have the balls" to threaten debt default and withdrawal from the single currency. "We have a hostage, it is called the euro," he said. "The euro is insolvent. The only question is whether Ireland should be sacrificed to keep the Ponzi scheme going. We have to have a Plan B to the misnamed bailout, which is to go back to the Irish Punt."

Hopefully Plan B will also involve a few hundred criminal bankers going to prison.

Watch out Ms Merkel, you have elections coming soon and your wage-slaves are getting tired of bailing out banksters to keep the Euro afloat. The rest of the PIIGS should take note and act in the interests of their citizens rather than their financial elites.

A SIDE NOTE: Egypt has banned the exportation of all forms (including jewelry) of gold until 30JUN11, once again the "barbaric relics" have been seen by the primitives as more worthy than fiat money.

Interesting times indeed.

Friday, February 25, 2011

And you were wondering where the inflation was coming from...

Gas up fifty cents this year...
Coffee doubling in price in twelve months....
Rice and Wheat prices causing riots from Algeria to North Korea......

Almost There!

It looks like Ghadaffi (Khadaffi, Qadaffi, spell it any way you want; I like Quite Daffy) isn't going to last very long, his fall will pretty much complete the set of "South-Shore of the Med" dictators to become unemployed. One has to hope that the contagion spreads to Syria and Iran, it would be nice to see the evil bastards that rule (ruin) those sorry countries be thrown out on their ears.

Mid East Madness

Boy, I thought that college basketball thing was over the top, now it seems that we have the Arab Revolt of the Week Tournament. Regardless of what the media and the half-wits that are running our foreign policy say it is quite apparent that the Old School of Arab despots is being pushed aside. From Rabat to Islamabad petty tyrants sit uneasily on their thrones, an inflection point has been reached and it seems a significant restructuring of the entire Arab World is in the offing.

Just a couple of things to think about

I found this eye-popping and heart-breaking article the other day; the author uses graphs to bring home the gravity of our current situation. It is not as funny as the teddy bears, OK it is not funny at all, but it will certainly get your attention; http://theeconomiccollapseblog.com/archives/what-is-wrong-with-the-u-s-economy-here-are-10-economic-charts-that-will-blow-your-mind The title speaks for itself.

On a brighter note, at least to any of you that own silver, there is this; http://www.zerohedge.com/article/guest-post-how-much-more-demand-can-silver-handle in fact I think I need to get some more physical (no I won't rerun that Olivia Newton-John thing, it wasn't that funny the first time now that I think about it).

This just caught my eye, Wildcat Silver. Big shooters in the the PM mining biz and it is located in the US.

Friday, February 11, 2011

Yup, more teddy bears

Again, depending on where you work this may not be safe for the office. This time they explain gold etc.....

http://www.youtube.com/watch?feature=player_embedded&v=h66R4U-Eybs#at=31

Tuesday, February 8, 2011

The Return of the Barbaric Relics

What next, are the Huns going to go rampaging through Europe once again? Keynes' "barbaric relics" are not only doing better as an investment than fiat money, they are becoming money. Check this piece out (courtesy CNBC):

"(CNBC) -- London Clearing House Considers Gold as CollateralLCH.Clearnet, a leading independent clearing house, is considering a plan to accept gold bullion as collateral against margined positions. London is the world’s largest market for over-the-counter gold trading.

"We’re looking at it closely,” confirms David Farrar, LCH.Clearnet Director of Commodities. “It’s something that, subject to regulatory approval, we’d look to introduce later this year." The Financial Services Authority (FSA) is the regulator of the financial services industry in the UK. A source, close to the situation, tells CNBC that nothing is currently pending before the FSA at this time on this matter.

This follows an announcement by J.P. Morgan that it will become “ ... the only tri-party collateral manager to accept physical gold as collateral to satisfy securities lending and repo obligations with counterparties.” And according to spokesman Chris Grams, the CME accepts allocated gold at the JP Morgan vault in London as collateral against any asset class position an investor might have at the CME.

Why is this move important? Market watchers say it adds credibility to the argument that gold is an alternative asset, a type of alternative currency.

Banks are always looking at their scarce resources including, cash and gold. Leveraging an increasingly valuable gold inventory would be a natural next step, and likely welcome extension of that process.

“There will be a substantive benefit for all firms active with gold bullion and / or LME registered warrants,” says Mike Frawley, Newedge Group Global Head of Metals. “It is the direction of the overall market to use warehouse receipts and / or bullion for margin purposes.”

And, he says as the London Metals Exchange (LME) gets closer to launching its over-the counter (OTC) contracts for gold traded in London, it will be important for the gold community to lever its existing stores for margin purposes. And perhaps in the process, ease the transition to a more transparent, over-the-counter gold market. "

When nobody trusts your paper they are still happy to take your gold and/or silver, odd isn't it?

Friday, February 4, 2011

Preparedness

Having survived "Snowmageddon" here in Michigan with little difficulty (Snowmageddon, really, it was about seven inches, an inconvienience but hardly the event the media made it out to be) I was amazed at the hysteria that the MSM were able to produce by hyperventilating about that most unexpected of events; snow, in winter, in Michigan. Good God, what next?

Two Things

One;
WTF happened today to silver and gold spot prices? They shot up like the "mystery rocket" off of the California coast! They had been being beaten down for the last week or so, then like a bolt from the blue they did this;

I admit that I wasn't watching closely but that is a pretty darned steep climb! There are also persistent reports of significant gold and silver suppliers running out of metal. I should have got more a while back, oh well.

Two,
Tomorrow is the "Day of Rage" scheduled in Syria (gotta love the calm approach Muslims take to politics; Rage, really? not protest, march for democracy, or solidarity, it has to be RAGE!!!) we will see if this "Revolt against the Dictators" is for real or is only aimed at despots that happen to cooperate with the West. Hopefully this idea catches on and the rest of the enemies of peace and freedom get theirs in the coming weeks. Egypt remains a mess, I can't say that I was sorry when I saw that pompous ass Anderson Cooper get a little of the "street" the other day. Stupid, pink journos that think that they can run around in other countries peeking at people like they were supervising lab rats has always rubbed me the wrong way. He needs to remember that his First Amendment rights stop at our borders. Dumbass.