sell! sell! sell!

[tiznow]

volume continues to go in the crapper as the rally fizzles out

think they wanted options to expire around these levels keeping it flat all week

anywho our government giving us a signal this isn't the end and trying to restrict market supply when all the gold bugs wanna buy some up on the pullback

---------------------------------

News Alert: US Mint Suspends Sales Of Gold American Eagles

8/14/2008 04:02:00 PM, Posted by APMEX, 8 Comments
First - The Bad News.

We just received word, the US Mint has suspended sales of the 1 oz Gold American Eagles until further notice and are not accepting new orders from precious metals dealers. This is in addition to the shortage of 1 oz Silver American Eagles.

This comes at a time when many investors around the nation are scrambling to locate silver bullion and US gold coins while prices are attractively low. These low prices seem to be one of the driving factors in this recent shortage, as investor demand has dramatically increased.

Now, The Good News.

APMEX still has very limited quantities of the 2008 - 1 oz Gold American Eagles in stock and ready for immediate shipment to our customers. If you have recently placed an order with us, you can be confident your items have been reserved for you, set aside and are awaiting your shipment date.

For the time being, fractional gold (1/10 oz, ¼ oz and ½ oz Gold American Eagles) remain unaffected by the shortage. APMEX customers are encouraged to take advantage of the low spot prices by purchasing the following items currently in stock and ready for immediate shipment.

Gold Investors:

* 2008 1 oz Gold Maple Leafs – very limited supply
* 2008 1 oz Gold American Eagles – very limited supply
* 1 oz Credit Suisse Bars – very limited supply

Silver Investors:

* 2008 Silver Maple Leafs – priced the same as the 2008 Silver American Eagles
* 90% Bag Silver Coins – roughly 712 oz of pure silver

 

[tiznow]

although haven't been able to confirm outside the gold bug network so might be a sham who knows

never know who/what to trust anymore

 

[eek.]

nothing new.

Friday, September 14, 2007

<!-- Begin .post -->US Mint Suspends Gold Coin Sales Due to Raising Prices

Is the USA running out of gold?
The US Mint has suspended all sales of most bullion coins on Thursday. A visit to its website shows that all golden American Eagle coins are "not available." This info is hidden on the product pages without a corresponding press release. The US Mint had limited bullion coin sales to a maximum of 10 ounces per order earlier. The Mint will reprice these coins by September 27, it said. Confirmed orders will still be shipped.
US gold reserves have not been audited in more than 40 years and are valued at $42 in the Fed's publications. The USA does not take part in the central bank gold sales agreement which runs until September 2009 and limits gold sales to 500 tons per year.
The info page for the 2007 American Eagle says,

"due to the increasing market value of gold, the American Eagle Gold Uncirculated Coins are temporarily unavailable while pricing for this option can be adjusted; therefore, no orders can be taken at this time. We expect products to be available with adjusted pricing on or after September 27, 2007."​

http://prudentinvestor.blogspot.com/2007/09/us-mint-suspends-gold-coin-sales-due-to.html

 

[xpanda]

On Kitco's home page...fyi, this wasn't there two hours ago.


IMPORTANT NEW NOTICE: Due to market volatility and higher demand in the entire industry, we are anticipating delays in supply of all bullion products. Please note that you can continue to place orders and prices will be guaranteed; however, cancellation fees will still be applicable regardless of the length of the delay. Consequently once inventory is received there may also be delays in processing and shipping by our vaults.

____________

Supply issues. The Mint gets their gold from refiners, not the reserve (if there is any, nobody seems to know.)

 

[Brooklynbomber]

:missingte:missingte

pretty sure these supply problems were first brought to light right here in the RX PoliForum, in this thread, in the past few days/ weeks

impossible to get the shit yet prices are cratering due to control of the paper markets by the organized crime ring controlling Western Gov'ts

Comedy Goldhno:

 

[DeathEatsaCracker]

guys i have some money to throw into more stocks and im looking for some suggestions...i saw someone's post about MFN above...do you guys like anything else?

i was gonna buy this WHX and its redonkulous yield but i missed the trade bc i forgot about the 3day settle date so ill miss the divy...so im gonna hold off on that for a couple more months now...

was thinking of maybe FCX

anyone like anything a lot

All commodity stocks, which have taken a beating lately.


AUY is very, very cheap right now. I also like CHK and PBR for oil/ng. Dry shippers are set for a run also, IMO. I like TBSI and GNK.

 

[tiznow]

on kitco front page.....

Please Note: Metal price changes are now based on closing prices at 5:15 PM NY time Mon-Fri. As a reference point Click for details.

IMPORTANT NEW NOTICE: Due to market volatility and higher demand in the entire industry, we are anticipating delays in supply of all bullion products. Please note that you can continue to place orders and prices will be guaranteed; however, cancellation fees will still be applicable regardless of the length of the delay. Consequently once inventory is received there may also be delays in processing and shipping by our vaults.

---------------------

gold up 7.90 outta the gate in asia.....

 

[tiznow]

more signs of the global consumption rate slowing this time in S korea.....5.9% increase vs. 11.2% in june

and UK housing starting to follow the US lead and crumble

-----------------------------

South Korea's Department Store Sales Rise By Least in 5 Months

By Seyoon Kim

Aug. 18 (Bloomberg) -- South Korea's department store sales increased at the slowest pace in five months in July, adding to evidence consumers are curtailing their spending and slowing the economy's expansion.

Sales at the nation's three biggest chains rose 5.9 percent from a year earlier, easing from June's 11.2 percent gain, the Ministry of Knowledge Economy said in Gwacheon today.

Moderating spending will further cool an economy that grew at the weakest annual pace in more than a year last quarter. Households, struggling with surging living costs, have reined in purchases of non-essential goods, which may erode earnings at retailers such as Lotte Shopping Co., the nation's largest department store operator.

The Kospi stock index has dropped 17 percent this year amid signs of cooling economic growth. Shares in Lotte Shopping have fallen 29 percent this year, and those in Hyundai Department Store Co., the second biggest, have slumped 26 percent.

Consumer confidence fell to the lowest level in eight years in July. The economy expanded 4.8 percent last quarter from a year earlier, the slowest pace since the start of 2007.

Spiraling food and fuel prices have eroded household budgets. Consumer prices climbed 5.9 percent in July, the biggest gain since 1998.

The Bank of Korea lifted its benchmark interest rate to an eight-year high of 5.25 percent this month, the first increase in a year, to quell inflation.

Spending on men's clothes fell 6.6 percent in July from last year, today's report showed. In contrast, sales of luxury goods at department stores gained 30.7 percent.

Sales at discount stores rose 2.1 percent last month from a year earlier, reversing a 1.9 percent drop in June.

---------------------------

U.K. House Prices Fall Most Since at Least 2002, Rightmove Says

By Svenja O'Donnell

Aug. 18 (Bloomberg) -- U.K. house prices posted the biggest annual decline in August since at least 2002 as reduced mortgage lending deepened the property slump in London, Rightmove Plc said.

The average asking price for a home fell 4.8 percent from a year earlier to 229,816 pounds ($426,929), Britain's most-used property Web site said in a statement today. On the month, home values fell 2.3 percent, the most since December, led by London.

``The lack of mortgage finance is central to the problem,'' Miles Shipside, commercial director of Rightmove, said in the statement. ``London, in particular, appears to be having its own special summer sale, with over 21,000 pounds off in a month.''

Bank of England Governor Mervyn King said last week that the housing market faces ``a significant adjustment'' as banks ration loans for homebuyers. Falling prices may exacerbate the economic slowdown as the threat of a recession looms and unemployment rises the most in 16 years.

Prices in London fell 5.3 percent on the month and 3.8 percent from a year earlier. Each of the 32 districts in the capital showed a decline, and the biggest drop was in the southwest area of Wandsworth, where values fell 7.9 percent. Hackney, in east London, was the best performer, with a 0.6 percent decline.

The stock of unsold property per real estate agent rose for a seventh month to 78, from 77 in July. The number of transactions may reach the lowest since 1959, Rightmove said.

Market `Standstill'

Banks have starved the market of loans after more than $500 billion in losses and writedowns worldwide from the U.S. mortgage market collapse. U.K. mortgage approvals fell to the lowest since at least 1999 in June, the Bank of England said July 29. The Royal Institution of Chartered Surveyors said last week that the housing market is at a ``virtual standstill.''

King said on Aug. 13 that ``there is a feeling of chill in the economic air'' and that ``the British economy is going through a difficult and painful adjustment'' that ``cannot be avoided.''

Weakness in the housing market may ``amplify'' the impact of the lending squeeze on household spending, the central bank said last week. Retail sales probably fell for a second month in July, dropping 0.2 percent, according to the median forecast of 32 economists in a Bloomberg News survey. The government's statistics office will release that data on Aug. 21.

Britain's gross domestic product will either stagnate or contract in the next two or three quarters, meaning the economy may fall into a recession, the British Chambers of Commerce said in forecasts released today.

Company Confidence

Confidence on business prospects fell to the lowest level in at least 6 years, according to a survey of more than 200 companies released by Lloyds TSB Group Plc today. The index of sentiment on the next 12 months fell to 22 in July, the lowest since the survey began in 2002, from 32 in June.

The economy probably grew 0.1 percent in the second quarter, less than previously estimated and matching the slowest pace since the aftermath of the last recession in 1992, the median forecast of 34 economists surveyed by Bloomberg News shows. The statistics office will publish the figures on Aug. 22.

The central bank kept its benchmark interest rate at 5 percent on Aug. 7 for a fourth month, as policy makers weighed the risk of accelerating inflation against the threat of a recession. Minutes of their meeting, showing how the panel voted, will be released on Aug. 20.

 

[tiznow]

Dollar surge will not stop America feeling the effects of a global crunch

By Ambrose Evans-Pritchard
Last Updated: 11:07pm BST 17/08/2008

Have your say Read comments

Two alerts landed on my desk this weekend from the elite markets team at Goldman Sachs. One was entitled "The Dollar Has Bottomed!". Those betting on an imminent disintegration of American economic and political power may have to wait another cycle. Rival hegemons are falling like ninepins.

The US dollar index hit an all-time low in March. It crept slowly upwards in the early summer before smashing through layers of resistance over the past month.

The surge against sterling, the euro, the Swiss franc and the Australian dollar is one of the most spectacular currency shifts in half a century. "Something fundamental has changed," said the bank. Indeed.

US industry is now super-competitive, if small. Mid East funds are drawing up shopping lists of Wall Street takeover targets. Airbus and Volkswagen are shifting plant to America to escape crushing labour costs.

US exports have risen 22pc over the past year, outstripping Chinese growth. The US non-oil trade deficit has shrunk by two fifths since 2002. It is now running at $300bn a year. This is 2.1pc of GDP.
# More on economics
# More Ambrose Evans-Pritchard

The other note advised clients to "Take Profit on Globalization Basket", especially on Eastern Europe currencies. Goldman Sachs has quietly dropped its talk of $200 oil. Even Russia's petro-rouble is now deemed suspect.

The twin missives more or less sum up the dramatic change in mood sweeping financial markets since it became evident that the entire bloc of rich OECD countries has succumbed to the delayed effects of the credit crisis.

Japan contracted by 0.6pc in the second quarter, Germany by 0.5pc, France and Italy by 0.3pc. Spain recalled the cabinet last week for an emergency summit. New Zealand and Denmark are in recession. Iceland contracted at a catastrophic 3.7pc in the second quarter.

"The whole decoupling thesis has started to come apart at the seams," said David Bloom, currency chief at HSBC. "Canada is frozen over. We have Arctic conditions in Sweden, and the UK is falling off the white cliffs of Dover."

The UK economy is not my brief, but I see that hedge funds are circulating a report from the US guru Jeremy Grantham predicting a very bad end to Gordon Brown's debt experiment.

"The UK housing event is probably second only to the Japanese 1990 land bubble in the Real Estate Bubble Hall of Fame. UK house prices could easily decline 50pc from the peak, and at that lower level they would still be higher than they were in 1997 as a multiple of income," he said.

"If prices go all the way back to trend, and history says that is extremely likely, then the UK financial system will need some serious bail-outs and the global ripples will be substantial."

For months the exchange markets ignored this impending train crash, just as they ignored the property bust in Europe's Latin Bloc, or the little detail that UBS alone had just lost the equivalent of 8pc of Switzerland's GDP. All they cared about in the currency pits was the interest rate gap: US low, Europe high.

Now the paradigm has flipped. The Fed may have been right after all to slash rates to 2pc. The European Central Bank may have panicked by tightening in July. Note that the elder Swiss National Bank did not do anything so rash.

Bulls now believe America is turning the corner. Financial stocks are up 20pc since early July. Some "monoline" bond insurers have risen 1,200pc in a month as fears of Götterdämmerung give way to sheer intoxicating relief, and a "short-squeeze". Such are bear-trap rallies.

Regrettably, I remain beset by gloom. The US fiscal stimulus package that kept spending afloat in the second quarter is running out fast. There is nothing yet to replace it. The export boom cannot keep adding juice as the global crunch hits. My fear is that the US will tip into a second, deeper leg of the downturn, setting off a wave of savage job cuts. This will start to feel more like a real depression.

The futures market is pricing a 33pc fall in US house prices from peak to trough, based on the Case-Shiller index. Banks have not come close to writing off implied losses on this scale.

Daniel Alpert from Westwood Capital predicts that a mere 28pc fall would alone lead to a $5.4 trillion haircut in US household wealth, and leave lenders nursing $1.25 trillion in losses. So far they have confessed to less than $500bn.

Meredith Whitney, the Oppenheimer's bank Cassandra, predicts a gruesome 40pc fall in prices. If so, expect prime borrowers facing negative equity to start throwing in the towel en masse. "I do not think we are near the end of writedowns. I continue to see capital levels going lower, and stocks going lower," she said.

So no, this painful ordeal is far from over. We are not witnessing a dollar rally so much as a collapse in European and commodity currencies. The race to the bottom has begun in earnest.

 

[tiznow]

also fey won't be good near term for the bulls cheering on lower oil

evacuating some rigs but likely not to hit/knock down many if any

looks like its heading for fl somewhere as a cat 1 or so....could be bullish in that it rids of some overpriced homes and helps on reducing the supply side of things....LOL

regardless just near term noise....the above article is great....spot on what i've been ranting on about for a while now.......explains my 1-2 year outlook for things....and why deflation is likely coming in the US at least......

-----------------------------------------------

Crude Oil Rises as Tropical Storm Approaches Gulf of Mexico

By Gavin Evans

Aug. 18 (Bloomberg) -- Crude oil rose for the first time in three days in New York as a storm near Cuba prompted evacuations from rigs and production platforms in the Gulf of Mexico.

Tropical Storm Fay, with maximum sustained winds of about 50 miles (80 kilometers) an hour, was centered 200 miles southeast of Havana, Cuba at 8 p.m. New York time and may strengthen to a hurricane before striking Florida's northwestern coast Aug. 19, the National Hurricane Center said. Gains were limited on speculation slowing U.S. economic growth will trim fuel demand.

``We would have to see oil prices spike'' if Fay veers west toward Louisiana, Peter Beutel, president of energy consultant Cameron Hanover Inc. in New Canaan, Connecticut, said in an interview with Bloomberg Television. ``But I don't think they'll be able to hold on to any spike, particularly if damage is minimal.''

Crude oil for September delivery rose as much as 98 cents, or 0.9 percent, to $114.75 a barrel on the New York Mercantile Exchange and was trading at $114.73 at 8:35 a.m. in Singapore. The contract earlier fell as low as $113.25.

Brent crude for October settlement rose as much as 63 cents, or 0.6 percent, to $113.18 a barrel on London's ICE Futures Europe exchange at the same time.

The northern Gulf of Mexico accounts for more than a fifth of U.S. oil production.

Storms routinely disrupt tanker traffic and production in the region in the North Atlantic hurricane season running June through November. In 2005, Hurricane Katrina wrecked platforms and refineries around New Orleans, prompting an international release of fuel from reserve stockpiles.

Gulf Evacuations

Royal Dutch Shell Plc evacuated about 360 non-essential staff from the eastern Gulf the past two days. Production hasn't been affected. Transocean Inc., the world's largest offshore oil driller, said it evacuated 130 workers and suspended operations at several rigs in the Gulf as a precaution because of the storm.

New York oil futures fell 1.1 percent to settle at $113.77 on Aug. 15. Earlier in the session it touched $111.34, a 15-week- low, as the dollar rose for a fifth week against the euro and the Organization of Petroleum Exporting Countries warned of risks to world demand from the slowing global economy.

A report tomorrow will probably show home building in the U.S., the world's largest oil consumer, fell to the lowest pace in 17 years in July amid rising borrowing costs and record foreclosures.

Sentiment has turned bearish and oil's direction is being driven by the dollar, Beutel said. A weak housing report will reinforce investor expectations of slowing demand, while a strong number may bring forward the prospect of a rate-rise by the Federal Reserve, further supporting the dollar, Beutel said.

The dollar rose 2.2 percent against the euro last week. It was at $1.4717 in early Asian trading, from $1.4687 late in New York last week.

 

[tiznow]

for what??!! y will get boring in here if u gone hopefully not

gold poking its nose back above 800 and oil perking up and dollar rally starting to subside

dow futures off a nudge

china can't find a bottom down another 3.8%

 

[tiznow]

get ready taxpayer :hump: and more in the pipeline i's sure

market still look tired but haven't rolled over yet......

man big spike down after i posted the above wonder if news related....tizgloom will go a searching

------------------------------------------

Freddie Mac debt sale weak, bailout concerns rise
Monday August 18, 11:05 am ET

NEW YORK (Reuters) - Freddie Mac's (NYSE:FRE - News) latest debt sale drew anemic demand on Monday, a day after Barron's reported an increasing likelihood the U.S. Treasury may essentially take over Freddie and rival Fannie Mae (NYSE:FNM - News).

The weekly financial newspaper said such a move could wipe out existing holders of the largest U.S. home funding companies' common stock, with preferred shareholders and even holders of the two government-sponsored entities' $19 billion of subordinated debt also suffering losses.

Bonds issued by the two 'agencies' sharply underperformed Treasuries, and their shares slid by more than 9 percent on the New York Stock Exchange.

Merrill Lynch also weighed in on Freddie Mac on Monday, saying it will likely raise fresh capital in the third quarter, comprised of at least 50 percent common stock. Merrill also cut its price target on the company.

"Lukewarm was my overall characterization," Nancy Vanden Houten, analyst at Stone & McCarthy Research Associates, said in an email of Freddie Mac's $4 billion debt sale Monday.

"The bid-to-cover ratios were weak for all three bill auctions. Spreads weren't uniformly bad, however."

"The Barron's story seems to be getting a lot of attention, rightly or wrongly," Vanden Houten said.

A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A lower ratio indicates weaker demand.

The bid-to-cover was 2.19 for the $2 billion 3-month issue, down from 2.73 a week ago. It also fell to 2.42 from 2.92 for the $1 billion of 6-month bills. The bid-to-cover ratio for the $1 billion of 12-month bills was 1.75, down from 2.50 percent at the prior sale of this maturity on July 21.

 

[tiznow]

DEAC you nab HQS? that might be all she wrote on the downside

up 10% today

 

[tiznow]

love all these companies raising prices right after commodities seem to have peaked

gl selling food you don't need in this environment hershey

-------------------------------------

Shares fall as Hershey says it will raise prices
Monday August 18, 11:28 am ET
Hershey shares fall on price hike, guidance cut, analyst downgrade

NEW YORK (AP) -- Shares of The Hershey Co. fell nearly 10 percent on Monday, after the candy maker said it would raise prices and an analyst downgraded the stock.

Shares fell $4.02, or 9.6 percent, to $37.60 during midday trading. The stock has traded between $32.31 and $47.59 during the past year.

After the market closed on Friday, the Hershey, Pa.-based company said it will raise prices by an average of 11 percent, due to rising commodity costs. Hershey also lowered its earnings expectations for 2008 and 2009.

Citigroup analyst David Driscoll on Friday downgraded the company to "Hold" from "Buy" in a note to investors.

He said the price increases are a "good sign" that Hershey is protecting its margin structure. However, he lowered his earnings estimates and said the company still has issues it needs to work on.

"If sales trends continue to accelerate, it is possible that there could be significant upside to earnings; however, visibility on this is limited and risk remains that it does not materialize," he wrote.

Meanwhile, Stifel Nicolaus & Co. analyst Christopher Growe said the "Sell" rating is mainly due to the recent increase in the company's share price. Since the beginning of July, the stock has climbed 27 percent.

"Our rating is, in effect, a valuation call given the recent run-up in the stock price accompanied by heavy option activity in August and September," Growe wrote. "The less-than-inspiring fundamentals provide a backdrop for share price weakness ahead."

 

[tiznow]

leh worries part of today's gloom

leh probably toast at some point....they aren't in a position to sell their worthless shit for pennies on the dollar like MER....they just praying some miracle happens and they come back IMO

The Wall Street Journal reported, citing unidentified sources, that Lehman Brothers Holdings Inc. might have to pre-announce its third-quarter results in anticipation of a large loss

 

[tiznow]

well looking like that might finally be the end of the rally

taking out the uptrend line since july today

might have one more push to a lower high left in it

but should put in a new low on dow/SPX in next month or two

 

[tiznow]

my lord fnm and fre just getting mauled like crazy

6.19 and 4.45 now....down another 25% or so today

taxpayer bend over

 

[joelatti]

Jdog

Any word on when MFN will get their FIRST POUR?

 

[tiznow]

http://www.ssd.noaa.gov/goes/flt/t1/loop-avn.html

fey really starting to pick up and trying to stay west of florida and over water not outta the woods yet as far as near term impact on oil

 

[tiznow]

volume won't pick up again until we start nearing another short term bottom

how bears work....at the near term bottom volume the highest than tails off as the bear shake progress than turning point still light may even tail off even more who knows day to day noise...and than as the bear leg progresses volume picks up till its super high at the next near term bottom

rinse wash repeat on the way down the choppy staircase of death

y bankimplode.com a regular read for tizgloom.....