Zero Hedge

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Physical Silver (PSLV) Premium To NAV Surges To Record High

While rumors that certain banks and exchanges may or may not be experiencing a dramatic run on physical silver are propagating across the blogosphere, we won’t know for sure until we see Blythe Masters resignation letter. In the meantime Alexander Gloy of Lighthouse Investment reminds us of something very much indisputable: the physical premium over … Continue reading

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Fed Balance Sheet Hits New Record At $2.55 Trillion As Bank Reserves Hit $1.3 Trillion All Time High

The Fed’s insatiable desire to redo all the debt monetization mistakes of the Weimar republic continues. This week, the Fed’s balance sheet hit a fresh all time high of $2.55 trillion, primarily as a function of increasing Treasury holdings. Not adding today’s $7.2 billion POMO to the total holdings, the Fed’s total Treasury holdings increased … Continue reading

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Visualizing The Government’s Massive Budget Deficit Forecasting Error

That government projections are not worth the price of the paper (especially not in today’s dis-disinflationary environment) they are printed on is no secret. As Zero Hedge recently demonstrated the margin of error in the most recent budgetary prediction can only be classified as insane. We wrote: “On February 28, 2001 George Bush said this … Continue reading

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Federal Reserve Balance Sheet Update: $1.129 Trillion In UST Holdings

The steady climb in Fed assets continues, with the left side of Bernanke’s balance sheet swelling to just under $2.5 trillion, as US Treasury holdings hit $1.13 trillion, implying that the Fed’s DV01 continues to increase on a daily basis with every single POMO, as we have been pointing out since last summer, and which … Continue reading

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“Not Owning Gold Is A Form Of Insanity And May Even Show Unhealthy Masochistic Tendencies”

Whoever said CNBC does not have good content – the biased station’s European division actually has some very informed and interesting guests. Of particular note is yesterday’s interview with Cazenove’s technical strategist Robin Griffiths. And while the chartist tends to not be too happy with the recent stock market action (who is), the most notable … Continue reading

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Charting The US Fiscal Catastrophe

With little fanfare, the November budget deficit of $150.4 billion was reported, which happened to be the worst fiscal November in the history of the US, and just out of the top 10 of worst deficit months ever, including the traditionally weak seasonal months of December, April and September (indicatively, the worst deficit month was … Continue reading

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