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The ONE Revelation about HFT Programs that Truly Scares Bankers (Hint: It’s About Gold & Silver) PDF Print E-mail
Written by Steve Meyers   
Wednesday, 09 April 2014 14:28

Last week, the big story was how bankers use HFT (High Frequency Trading) algorithmic software not only to rig markets but also to commit theft on a daily basis (Frontrunning, like Quantitative Easing, is just fancy Wall Street lingo to disguise its true meaning of theft).  Though many in the public blogosphere expressed shock that stock markets are rigged and that regulators like the Securities Exchange Commission willingly allow this theft to occur, the only thing shocking about this story was how long it took this story to reach the mainstream and that people were crediting Michael Lewis with uncovering this story with his book “Flash Boys” when in reality this story had been discussed in detail on independent financial media sites for more than five years already.

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Russia And China About To Sign "Holy Grail" Gas Deal PDF Print E-mail
Written by Steve Meyers   
Wednesday, 09 April 2014 14:20

Several weeks ago we reported that in response to ongoing alienation of Russia by the west Putin was aggressively setting the stage for Russia's eastward expansion, set to culminate with a "holy grail" gas deal with China. We said that "while Europe is furiously scrambling to find alternative sources of energy should Gazprom pull the plug on natgas exports to Germany and Europe (the imminent surge in Ukraine gas prices by 40% is probably the best indication of what the outcome would be), Russia is preparing the announcement of the "Holy Grail" energy deal with none other than China, a move which would send geopolitical shockwaves around the world and bind the two nations in a commodity-backed axis."

Reuters added, reflecting on the recent trip of Rosneft executive chairman to Asia, that "the underlying message from the head of Russia's biggest oil company, Rosneft, was clear: If Europe and the United States isolate Russia, Moscow will look East for new business, energy deals, military contracts and political alliances.  The Holy Grail for Moscow is a natural gas supply deal with China that is apparently now close after years of negotiations. If it can be signed when Putin visits China in May, he will be able to hold it up to show that global power has shifted eastwards and he does not need the West."

It's time for an update. According to Itar-Tass, "Russia's Gazprom and China are poised to conclude a gas supply contract in coming weeks, the first in a series of energy projects planned between the two countries. "We’re working now to sign a gas contract in May," said Deputy Prime Minister Arkady Dvorkovich. "Consultations are continuing and Gazprom's leaders are holding talks with Chinese partners on the contract terms. We hope to conclude the contract in May and believe it should come into effect by the year end."

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Market Update 4/7/14 PDF Print E-mail
Written by Steve Meyers   
Monday, 07 April 2014 16:01

Markets once again go off a cliff this morning. Look for a possible low tomorrow and decent rebound into our early May time period. Small cap stocks once again lead the rout. Reality is sinking in to the masses. What took so long?

Gold and silver are mere pedestrians today. I am still trying to buy silver at 19.51. I am somewhat bothered by silver's weakness which may also mean gold could have 1 last small spike down. I still believe that this is a buy of the year trade.

Dollar looks weak again and we could make a return trip down to the most recent lows. Currencies remain range bound but eventually will break out and then we can pounce.

 
Audio UP PDF Print E-mail
Written by Steve Meyers   
Friday, 04 April 2014 20:10

 
Market Update 4/3/14 PDF Print E-mail
Written by Steve Meyers   
Thursday, 03 April 2014 16:17

ECB does nothing and the markets are fractured and rangebound. We are marking time until tomorrow's Non-farm payroll number. I believe weak will be good as Fed officials are starting to roll out the idea of tapering the taper. Reminds me of Bill Clinton's definition of is is (was). Anywho, tomorrow will be key. As they normally do before a big number, the metals were hammered down. The question is, will we get to buy silver at our 19.51 price? I am continuing to work it. This killin time is killin me.

 
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