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marctomarket.com / By Marc Chandler / April 15, 2014
The US dollar is firmer against the yen and dollar-bloc currencies, but is weaker against the euro and especially, sterling. Sterling has been lifted by an unexpected decline in the unemployment rate to below 7%, the threshold under the previous forward guidance framework.
zerohedge.com / by Tyler Durden / 04/16/2014 11:42 -0400
“While the music is playing, you keep dancing,” seems the only possible explanation for the fanatical demand for peripheral European bonds as everyone and their pet rabbit front-runs the ECB (or merely rushes to the ‘yieldiest’ thing given Draghi’s implicit guarantee). At 3.1%, it beggars belief [...]
marctomarket.com / By Marc Chandler / April 14, 2014
Germany appears to have capitulated. The Bundesbank has dropped its opposition to extraordinary measures, like ending the sterilization of the SMP bond purchases, and has even dropped its visceral opposition to QE, if it can be structured properly to keep within the ECB’s mandate.
From today’s Open Europe news summary: Draghi suggests that the ECB could ease policy further to tackle strong euro Speaking at the spring meetings of the IMF and World Bank over the weekend, ECB President Mario Draghi said that the further strengthening of the euro “requires [...]
yanisvaroufakis.eu / By Yanis Varoufakis / April 14, 2014
In his latest Financial Times column Wolfgang Münchau concurs with much of what I have written here (on the Greek social economy’s deep coma) and here (on the reasons why investors are piling in) but goes on to suggest that Greece should seriously consider exiting the [...]
zerohedge.com / By Joseph Calhoun via Alhambra Partners / 04/14/2014 17:06 -0400
The Wizard: I AM OZ…the Great and Powerful! Who are you? The Wizard: Pay no attention to that man behind the curtain! The Great Oz has spoken! Dorothy: How can you talk if you haven’t got a brain? Scarecrow: I don’t know. But [...]
zerohedge.com / by Tyler Durden / 04/14/2014 07:07 -0400
Futures are treading water once more now that Ukraine has stormed to center stage from the backburner after everyone was convinced Putin would let the situation cool off after annexing Crimea. Guess not. Adding the renewed geopolitical jitters to what has already been a beta [...]
cobdencentre.org / Detlev Schlichter / 11 April 14
Editor’s note: this article, under the title “No end to central bank meddling as ECB embraces ‘quantitative easing’, faulty logic” appears on Detlev Schlichter’s site. It is reprinted with kind permission.
The 2nd edition of his excellent Paper Money Collapse is available for pre-order.
marctomarket.com / By Marc Chandler / April 10, 2014
The Managing Director of the IMF and the chief economist are making no bones about it. More action by the ECB is inevitable. It is “just a question of timing,” says Lagarde and “sooner was better than later”, chimed Blanchard, the chief economist.
marctomarket.com / By Marc Chandler / April 10, 2014
The US dollar is licking its wounds as the week winds down. It has been a poor week for the greenback, falling against all the major currencies. There are been two official impulses. First ECB officials have made it clear while it will explore unorthodox measures, [...]
testosteronepit.com / By Wolf Richter / APRIL 8, 2014 AT 1:15AM
It is not often that the head of a bank regulatory agency and taxpayer-funded bailout mechanism pulls out a megaphone and proclaims that the stocks of teetering banks under its jurisdiction are in fact an incredible buy, that they’re undervalued because the market is [...]
marctomarket.com / By Marc Chandler / April 7, 2014
There is a battle within the European Central Bank. Some want to take stronger action. Others do not think it is necessary. It is not just a matter of counting up who is on what side of the issue. It is not simply about majority rules. [...]
thedailybell.com / By Staff Report / April 07, 2014
The real reasons why Draghi flirts with QE … The fear is that money raised from quantitative easing in the eurozone will just be used to prop up banks that need to be allowed to fail The real reasons why Draghi flirts with QE Mario Draghi’s [...]
There are four changes to the broad investment climate. 1. The ECB has stepped up its threat of unconventional action and may have purchased a two month grace period. 2. Confidence in the US economic rebound from sub-par growth in Q1 is strengthening. 3. After a strong [...]
In order to stimulate lending and get the economy going, the European Central Bank (ECB) recently said it could take more drastic action. Among the tools considered are negative interest rates. Meaning, the ECB would charge banks on reserves held at the central bank.
This Great Graphic is the monthly bar chart of the euro. It was constructed on Bloomberg. It shows that the euro has been turned back from a monthly trend line drawn off the 2008 record high and the 2011 high near $1.50.
The euro’s demise has been long foretold, including [...]
traderdannorcini.blogspot.com / By Dan Norcini / April 4, 2014
And the number of new jobs created for the month of March is… drum roll please… Disappointing. With the market looking for something north of 200K, it didn’t get it. Up started the talk of a halt to any interest rate rise next year.
zerohedge.com / by Tyler Durden / 04/04/2014 10:21 -0400
When in desperate need to crush your currency (being bought hand over fist by the Chinese), so urgently need to boost German exports, since you are unable to actually do QE as per your charter, what do you do if you are Mario Draghi? Well, you [...]
acting-man.com / By Pater Tenebrarum / April 4, 2014
Thanks a Bunch, but Keep the Advice to Yourself Please …
The most amusing moment of Mr. Draghi’s press conference after yesterday’s ECB board meeting, was when he proceeded to put down the IMF’s Ms. Lagarde who had only one day prior to the meeting admonished [...]
Many people are beginning to wonder these days how long the ECB’s trick of promising action instead of delivering action will continue to ‘work’ (allow us to interpose here, that we believe the less they do, the better it is). [...]
zerohedge.com / by Tyler Durden / 04/04/2014 07:20 -0400
Today’s nonfarm payrolls release is expected to show a “spring” renaissance of labor market activity that was weighed on by “adverse weather” during the winter months (Exp. 200K, range low 150K – high 275K, Prev. 175K). Markets have been fairly lackluster overnight ahead of non-farm [...]
The ECB meeting looms large. The newswire surveys are nearly unanimous. The ECB is not going to take fresh action to address one of a number of issues, including low and falling inflation, anemic money supply growth, contracting lending, and an elevated EONIA.
"Many gold bugs readily admit silver to be more depressed than gold. Ted Butler stated long ago that not even gold has a users association. The fact of the existence of this group is another of many proofs that synthetic money creators hate and fear silver even more than their loathing for gold." - Charles Savoie