Saturday, August 28, 2010
You might ignore one Hindenburg warning but three? ArabianMoney announced the first on August 12th (click here). But we prefer to stick to fundamental analysis rather than look for zepplins crashing in the charts.
Here the picture is surely just as clear. The stock market continues to price in some kind of recovery while the economic indicators increasingly point to a double dip recession.
Remember the summer of 2008 and the way economists upped the ‘possibility’ of a recession to 30 per cent. They are at it again, apart from old Albert Edwards at Societe Generale whose bearish vision makes Marc Faber look an optimist.
Mr Bernanke’s touching commitment to save the US economy has also been with us for a long time, and it has not worked to date, although things might have been very much worse.
Bond yields are at record lows. Money is shifting into gold and silver with gold bullion purchases up 40 per cent this year. Share prices rose on thinner and thinner volumes this summer. The day of reckoning is coming. Indeed, the Hindenburg Omen suggests it is happening now.
TEHRAN – Iran imported over 22 tons of gold ingots worth over $855 million in the first four months of the current calendar year (started march 20, 2010).
The amount shows 85,000 percent increase in terms of volume and 81,000 percent rise in terms of value in comparison to the same period previous year, ISNA News Agency reported.
The figure accounts for 4.64 percent of Iran’s total value of imports during the mentioned period.
Turkey, Russia, and the United Arab Emirates were the main exporters of gold to Iran.
Iran imported $1 million worth of gold during the first four months of previous Iranian year
AFTER 10 years of comparative slumber, the sun is waking up - and it's got astronomers on full alert.
This week several US media outlets reported that NASA was warning the massive flare that caused spectacular light shows on Earth earlier this month was just a precursor to a massive solar storm building that had the potential to wipe out the entire planet's power grid...read on