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Something to remember in times like these.

Something to remember in times like these.

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Washington Coastal Volcano Discovered

Volcano discovered 200 miles off the coast from Grays Harbor, Washington!

Jeremy Weirich, the operating officer on the National Oceanic and Atmospheric Administration ship Okeanos Explorer, said the volcano was found while crew members were testing a new mapping program on underwater topography 200 miles off the Washington coast, The Seattle Times said Monday

The discovery of the volcano in 10,000 feet of water really shouldn’t surprise anyone.

NOAA scientists have estimated that 95 percent of the world’s oceans haven’t been explored.

Is gold the last store of Value?

Adam Hewison at MarketClub has just released a video that shows a buy signal for Gold based on the triangles.

BTW, silver is up big, $0.92 to $10.56. Silver, IMO, will give a weekly BUY signal if it trades higher than 10.70. If you’ve been watching the MarketClub videos, 10.70 is a pivot point. The low was $8.53, a difference of $2.17. Flip that on top the pivot point and we have a target of $12.87. That’s a 21% gain!

Oregon State #17

The latest polls are out and based on the them, this will be the best civil war ever.

The APTop 25, The USA Today Poll and the ESPNU Allstate Standings (Fan poll) have Oregon State at #17! The same polls have Oregon at either #18 or #19.

Synthetic CDOs, Next Shoe To Drop?

A tsunami of hope or terror? is just a a fascinating piece from Alan Kohler of the Business Spectator.

“As the world slips into recession, it is also on the brink of a synthetic CDO cataclysm that could actually save the global banking system. It is a truly great irony that the world’s banks could end up being saved not by governments, but by the synthetic CDO time bomb that they set ticking with their own questionable practices during the credit boom.

Through some wild machinations that could have come from a James Bond novel, the banks may have fashioned a way to funnel trillions of dollars into their hands if nine of the 100 most heavily leveraged companies in the U.S. go bankrupt. Already,

three Icelandic banks have defaulted, as has Countrywide, Lehman and Bear Stearns. AIG has been taken over by the US Government, which is counted as a part-default, and Freddie Mac and Fannie Mae are in “conservatorship”, which is also a part default – a ‘part default’ does not count as a ‘full default’ in calculating the nine that would trigger the CDS liabilities.

Ambac, MBIA, PMI, General Motors, Ford and a lot of US home builders are teetering.

Of the homebuilding stocks a quick check of the five most leveraged, Hovnanian Enterprises Inc. (HOV), Standard Pacific Corp. (SPF), WCI Communities Inc. (WCIMQ.PK). Beazer Homes USA Inc. (BZH), and TOUSA, Inc. (TOUSQ.PK), has revealed that two of the five have filed Chapter 11.

If the list of defaults – full and partial – gets to nine, then a mass transfer of money will take place from unsuspecting investors around the world into the banking system. How much? Nobody knows, but it’s many trillions.
But for the banks, it’s happy days. Suddenly, when the ninth reference entity tips over, they will be flooded with capital. It’s possible they will have so much new capital, they won’t know what to do with it.

Football Upsets 11/22

#2 Texas Tech 21, Oklahoma 65
#18 LSU 13, Mississippi 31
#22 North Carolina 10, N. Carolina St. 41
#23 Miami (FL) 23, Georgia Tech 41
#25 Maryland 3, Florida State 37

#21 Beavers win 19 to 17 at Arizona!!!

Gold Signals and Backwardation!

Has Trading the Triangles at MarketClub given any buy or sell signals regarding gold or the USD?

First, we would have been short on the weekly signal on 10/16 at $817 and $860 on 10/10 on the daily chart and would have covered and gone long on 11/21 at $777.9 on the weekly chart and $749.9 on 10/28 on the daily chart. Right now, we should be long Gold and the ST target is $860.

How about silver? Silver’s last signal was a weekly sell on 10/13 at $10.55. The last daily signal was a sell on 11/20 at $9.20. Silver needs to move above $9.77, the last daily high.

How about the etfs?
GLD no monthly buy signal. The weekly gave a buy signal on 11/21 at $76.36.
SLV no monthly buy signal. The weekly has not given a buy signal.

How about NEM – the largest independent gold mining company?
NEM no monthly buy signal. The weekly gave a buy signal on 11/21 at $29.4.
How about CDE – the largest independent silver mining company?
CDE no monthly buy signal. The weekly has not given a buy signal.

Both Gold and Silver are in backwardation. This is the first time for this since 1999. Antel E. Fekete wrote an excellent description of what backwardation means in a piece for FSO titled WHAT GOLD AND SILVER ANALYSTS OVERLOOK

As the regime of irredeemable currency threatens to crumble under the weight of the inordinate debt tower of Babel, people increasingly take flight to gold. Supplies will get tight and the gold basis will fall. The gold futures market may even go to backwardation briefly at the triple-witching hour, i.e., the hour when gold futures, as well as call and put options on them expire together. Later, flirtation with backwardation may occur even more often, at the end of every month when gold futures expire. Gold will get caught up in a storm.


From Minyanville:

This morning, gold officially went into backwardation for the first time since the announcement of the Washington Agreement in 1999, which sent gold shorts scrambling to find physical metal after the world’s major central banks agreed to limit sales of gold going forward and ended the one-way trade to the downside in gold that had been in place in the late 1990s.

Unlike other commodities, gold very rarely goes into backwardation: This only occurs when 1) The market fears a collapse in the currency, and/or 2) The market is worried about counterparties making good on their promise to deliver gold (which was briefly the case in 1999, when the Washington Agreement was announced and shorts were squeezed).

Normally, commodities will trade cheaper in the near months and more expensive in the farther out months. Tonight, that is not the case with Gold. Here are the closes of the active contracts. Gold closed for the day at 801.60!

Dec. 2008 – 792.0
Feb. 2009 – 791.2
Apr. 2009 – 750.4
June 2009 – 751.8
Dec. 2009 – 804.5
Dec. 2010 – 770.1

Earthquake Predictions and News

Now nobody can predict an earthquake or can they. The U.S. has warned “Thursday that a large earthquake may soon strike the southern and Midwestern United States affecting 44 million people in states including Alabama, Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.”

Others, like George Ure, has warned that Dec. 10-12 could bring “first major earthquake and then a couple of days later, perhaps as late at the 15th for a second large quake.”

Which brings me to a tip from Michael Hall. Doug Copp, famous rescuer, believes “Duck and Cover” in case of an earthquake could be deadly. He recommends instead the Triangle of Life.

Conflict Of Interest?

Someone wants Obama to pick Hillary Clinton for SecState and they are trying hard to nail Bill Clinton down so there can be no conflicts of interest (good luck with that!).

Here’s something else to consider. Supposedly, Hillary’s closest aid is Huma Abedin. Do You recall her background? I wrote back in February that Huma was “… a Moslem who grew up in Saudi Arabia and is strongly suspected of working for Saudi intelligence.” Now isn’t that a conflict of interest?

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