The Truth Behind the Headlines
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GATA's Chris Powell on the Silver Manipulation Probe & the Fed Gold Audit!

Follow us @ http://twitter.com/laurenlyster http://twitter.com/coveringdelta Welcome to Capital Account. JP Morgan said in a court filing that PFG's subpoena...
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The Search for Yield Continues as the Euro Rallies and Bonds Fall | ETF Trading

The Search for Yield Continues as the Euro Rallies and Bonds Fall | ETF Trading | The Truth Behind the Headlines | Scoop.it
After Herr Draghi emphatically informed the world that they should not short the Euro (AMEX:FXE) the currency promptly sold off headed towards $1.20.  U.S.
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Too-Big-to-Fail Prevention Is Tested in Post-Crisis Iceland

Too-Big-to-Fail Prevention Is Tested in Post-Crisis Iceland | The Truth Behind the Headlines | Scoop.it
Iceland was brought to the brink of bankruptcy when its biggest banks failed four years ago. Now, the site of the world’s most spectacular financial collapse is becoming a pioneer in banking reform.

 

Iceland wants to bring in a form of Glass-Stegall when what they really need to be doing is overhauling their version of Freedie and Fannie.  It was their subsidizing housing loans with lower thna market interest rates which led to the banks being able to lever up that far, using securitization as the means by which to baffle the regulators with capital adequacy BS. 

 

The same things will happen again in Iceland eventually if they do not tie their currency to a hard asset and rein in their government's insistence on growth through home ownership.

 

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Peter Pham Presents: The Pursuit of Alpha in Vietnam - Peter Pham Presents: The Pursuit of Alpha in Vietnam

Peter Pham Presents: The Pursuit of Alpha in Vietnam - Peter Pham Presents: The Pursuit of Alpha in Vietnam | The Truth Behind the Headlines | Scoop.it

Could we please get rid of this silly ban on a potentially great product.  Things have progressed so far that it's hard to even know at this point whether hemp would make a good economics sense anymore.

 

Let's legalize the cultivation of it and find out.

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Gold Builds on Friday’s Gains | Stock News

Gold Builds on Friday’s Gains | Stock News | The Truth Behind the Headlines | Scoop.it
Gold (AMEX:GLD) closed on the Globex afternoon session Monday at $1612.45 per ounce and as of this writing is currently in backwardation on the September and...
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AlphaVN: Twice Bitten, Apple Shy

AlphaVN: Twice Bitten, Apple Shy | The Truth Behind the Headlines | Scoop.it

Apple (NASDAQ:$AAPL) reported what was for any other company a complete blowout of a quarter, especially having to write off an entire continent (Europe). But, the expectation for them are so high and their margins so vast that the Wall St. sell-side projections for their business got way ahead of even Apple’s guidance. This is the single most covered company in the world and it should bother people that a quarter where they made $6.5 billion in net profit for $9.32 per share would be considered a huge miss.

 

How is it possible to miss revenue projections that badly?

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Guest Post: While All Eyes Are On Europe, Japan Circles A Black Hole | ZeroHedge

Guest Post: While All Eyes Are On Europe, Japan Circles A Black Hole | ZeroHedge | The Truth Behind the Headlines | Scoop.it
Submitted by Charles Hugh-Smith of OfTwoMinds blog,While all eyes are on the absurdist tragicomedy playing out in Europe, Japan is quietly circling a financial black hole as its export economy is destroyed by its strong currency and the global...

 

Nonsense from the otherwise excellent Charles Hugh-Smith.  By focusing on nothing but the debt situation and how the strong Yen impacts exports, he is missing the other very obvious par t of the equation, that imports are cheaper.  This is simple import/export stuff that has been forgotten in all of the idiotic mercantilism propagated constantly and parroted by poeple who should, frankly, know better.

 

Japan's companies are deploying those strong Yen in the trillions around SE Asia and in doing so are effectively getting younger, the same way that China is.  This notion that political borders determines a countries demographics is worthless and clouds rational analysis. Young, cheap Vietnamese working in a suzuki Factory are economically tied to Japan's production base and Vietnam's consumption base.

 

It's economic dual-citizenship.

 

I've been hearing for years how the strong Yen will kill Japan's export markets but it hasn't happened yet.  Only in 2011 when a large chunk of their economy was swept out to sea nad rendered unusable from radiation did they finally run a current account deficit even though the Yen has been strengthening around the world for more of the century, oh by the way.

 

The strong Yen shook compaies like Toyota up and made them wake up to the quality of their competition.  And it is making their cars better, which is why they'll sell 10 million cars and trucks this year.

 

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S&P Above 1400 As Fed Conducts Second $600 Million Repo Following Nearly 4 Year Hiatus | ZeroHedge

Last week we explained why while endless promises may be enough to confuse the market and force endless rounds of short covering as weak hands are flushed out of positions  under threat (but never action) of Fed intervention, banks are no longer in...

 

The Fed is in "Do as I say not as I do" mode, telling the markets they won't start a new round of QE but are expanding the money supply anyways.  While everyone is focused on 'to QE or not to QE" the truth is as ZH implies, the banks have levered up as far as they can go having mobilized just over $200 billion of excess reserves. 

 

This is just the beginning of the next wave of printing and the headlines will be silent now that both Bernanke an Draghi have talked the markets down from the ledge last week. 

 

Expect a run to around 1450 on the S&P and gold to break through $1650. 

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Toyota Erases the Memory of Fukishima | Stock News

Toyota Erases the Memory of Fukishima | Stock News | The Truth Behind the Headlines | Scoop.it
Toyota (NYSE:TM) reported excellent Q1 FY 2013 earnings Monday morning before the bell and they were outstanding.  The world's largest auto manufacturer earned...
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Why the Economy Won't Ever Recover

Why the Economy Won't Ever Recover | The Truth Behind the Headlines | Scoop.it
Trimtabs Investments Research CEO Charles Biderman on why he is bearish on the U.S. economy.

Via Hal
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