G0ldfinger

OK then, happy days again. More money for everyone!

U.S. Fed Statement on Initiatives to Bolster `Liquidity:' Text March 16 (Bloomberg) -- The following is a reformatted version of a statement the Federal Reserve released today. ``The Federal Reserve on Sunday announced two initiatives designed to bolster market liquidity and promote orderly market functioning. Liquid, well-functioning markets are essential for the promotion of economic growth. First, the Federal Reserve Board voted unanimously to authorize the Federal Reserve Bank of New York to create a lending facility to improve the ability of primary dealers to provide financing to participants in securitization markets. This facility will be available for business on Monday, March 17. It will be in place for at least six months and may be extended as conditions warrant. Credit extended to primary dealers under this facility may be collateralized by a broad range of investment-grade debt securities. The interest rate charged on such credit will be the same as the primary credit rate, or discount rate, at the Federal Reserve Bank of New York. Second, the Federal Reserve Board unanimously approved a request by the Federal Reserve Bank of New York to decrease the primary credit rate from 3-1/2 percent to 3 1/4 percent, effective immediately. This step lowers the spread of the primary credit rate over the Federal Open Market Committee's target federal funds rate to 1/4 percentage point. The Board also approved an increase in the maximum maturity of primary credit loans to 90 days from 30 days. The Board also approved the financing arrangement announced by JPMorgan Chase & Co. and The Bear Stearns Companies Inc.'' http://www.bloomberg.com/apps/news?pid=206...&refer=home

At least they paid almost nothing for Bear. But then, they could be worth much less than nothing.

RU kidding?

http://www.bloomberg.com/apps/news?pid=206...&refer=home I am sure they will listen to Mr Bearish sooner or later.

Yepp. People only don't quite realize what a turd Sterling is because the Dollar still looks worse. This might change, though.

BoJ has now finally woken up and intervenes a little. (Don't listen to me, I am making this stuff up.)

Typical Asian gold buying commencing. Then in NY they will try to put a lid on it. Someone also bought a big bunch of Yen when trading started. GOLD at a new all-time high: $1,007.7

Maybe.

Great link. Thanks.

http://www.financialsense.com/editorials/p.../2008/0310.html That sums up my opinion. Japan is a turd, except possibly for its currency. However, they do the best they can to destroy it, so, watch out.

It will look ridiculous when the US will announce that they boycott the Olympics because a few 1000 Tibetans died. How many have died in Iraq? 1,000,000?

My guess would be that gold was finally perceived as destroyed and no danger anymore.

The average punter will wake up to this too at some stage.

Over the last year or so he never really mentioned confiscation or issues with ETFs, although he quite often has James Turk on the show. I think he just thinks it's not really going to be an issue. He seems much more concerned about naked Juniors short-selling.

http://www.bloomberg.com/apps/news?pid=206...&refer=home This means there is going to be A LOT OF MONEY PRINTED. No more questions. BUY GOLD.

Very interesting that the leading German news magazin DER SPIEGEL runs a story on 'dirty gold' just now that gold threatens to breach $1,000. It's alway possible to write an article on 'dirty XXX' -- XXX being any commodity of your choice. http://www.spiegel.de/spiegel/

Think about it. If all this deleveraging is mopped up by the central banks, $30,000 wouldn't really look like that big of a deal. Everyone and their dog would dump their paper cr@p on the central banks, take the money, and put it into hard assets.

This thought is putright scary. The average UK home would plunge to levels even we can't imagine right now.

Very interesting article. I think I agree with this. The only question is whether the central banks will really give up, or whether they just let hyperinflation run its way. In any case, you better got some gold.

(1) Yes. (2) Compounded pointed out how this was a period between two crisis situations (oil crisis 1/2 basically). We may see something like it (see also Jim Puplava's Orio cookie theory), but I somewhat doubt that any correction would be similarly serious.

House prices in gold in the US:

I always thought that this would happen: (1) The US will boycott the Chinese Olympics. (2) China won't help the US anymore to finance their deficit. (3) The US will see the greatest economic/hyperinflationary slump ever. (4) China will invade Taiwan since the US will have other more urgent problems at the time.

Just read an article that CITIC now thinks (are they really so stupid that they only realize now?) that Bear Stearns is a turd. They don't wanna give them those billions anymore. Oh well, I guess the Fed will print some instead.