Zero Hedge

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

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

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

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

Visualizing The Government’s Massive Budget Deficit Forecasting Error

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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 “Visualizing The Government’s Massive Budget Deficit Forecasting Error”

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

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

CBO’s Revised Budget Sees 2011 Deficit Rising By $500 Billion To $1.5 Trillion

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No surprise: the projected deficit just went up by another half a trillion: “For 2011, the Congressional Budget Office (CBO) projects that if current laws remain unchanged, the federal budget will show a deficit of close to $1.5 trillion, or 9.8 percent of GDP.” This is up from $1.07 trillion: a very small margin of … Continue reading “CBO’s Revised Budget Sees 2011 Deficit Rising By $500 Billion To $1.5 Trillion”

Fitch Finds US Worst Of The AAA-Rated Best, Sees QE2 As Stoking Inflation Expectations

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Since by now it is all too clear that none of the rating agencies will dare to downgrade the US until well after its creditors realize they have all been taken for the proverbial ride, and even longer after the Fed owns a vast majority of US treasury bonds, which according to CNBC is great, … Continue reading “Fitch Finds US Worst Of The AAA-Rated Best, Sees QE2 As Stoking Inflation Expectations”

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

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

Charting The US Fiscal Catastrophe

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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 “Charting The US Fiscal Catastrophe”

Silver Shortages Accelerate As Wholesale Supplies Plunge: Krieger/Keiser – 1; JP Morgan – 0

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Is the Kriger/Keiser “Short Squeeze JPM to Oblivion” plan working? Judging by the wholesale availability of silver (or lack thereof) the answer is a resound yes. In Coin Updates News we read that “as of today, there are no longer any regular wholesale supplies of the 1 ounce through 100 ounce silver rounds and bars … Continue reading “Silver Shortages Accelerate As Wholesale Supplies Plunge: Krieger/Keiser – 1; JP Morgan – 0”

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