World economy talk

[uls]

lots of action in the Great British Pound

speculators are attacking the GBP

GBP fell as low as 1.4781 against the USD

now 1.4934

[uls]

Gold passes $1,130

[Monseratto]

Ford is # 1 in the February 2010 car sales, but below expectation.

New no. 1. Ford sales top GM, Toyota

NEW YORK (CNNMoney.com) -- Recall-plagued Toyota Motor reported a 9% drop in U.S. sales in February, but it appears other automakers didn't gain as much from Toyota's problems as expected.

Even Ford Motor, which posted strong sales to vault ahead of Toyota and GM to claim the market lead in the U.S., said it didn't believe its gains were a result of Toyota's problems.

Ken Czubay, Ford vice president, said the company believes many traditional Toyota customers sat on the sidelines instead of buying a car from another automaker.

Industrywide sales rose 13% from a year-ago, but it was fleet buyers, such as rental car companies, rather than consumers, that accounted for the improved sales. Between the Toyota recalls, snow storms and continued worries about the economy, there were plenty of reasons consumers stayed out of dealer showrooms during the month.

GM reported its sales rose only 12% from a year ago, falling short of Edmunds.com's forecast of a 16% rise. GM's sales were also down slightly from January.

Chrysler's sales were also good enough to barely stay ahead of Japanese automaker Honda Motor (HMC) for the No. 4 position in U.S. sales.

Honda's sales rose 13%, but that was weaker than Edmunds.com's forecast of a 24% gain. Japan's Nissan reported a 29% jump in sales compared to a year ago.

Some analysts think Ford and Korea's Hyundai stood to gain the most from Toyota's problems. Sales for Hyundai were up 11% while sales for sister brand Kia rose 9% in February from a year ago.

[uls]

In dollar terms, gold isnt breaking into new highs

but in terms of Euro, gold is at an all-time high



look at it this way...

the VALUE of gold is constant

it's people's faith in the underlying currencies that change

when gold becomes more expensive in a specific currency, that means faith in that currency is diminishing

well, the price of gold is at historic highs in all currencies

http://www.usagold.com/gold-price-forex.html

that says a lot about people's faith in fiat currencies

[safeorigin]

aye, which brings us to history. everybody recalls argentina

[uls]

Greece austerity plan

RTRS-GREECE TO CUT STATE SALARY BONUSES BY 30 PERCENT – DRAFT BILL

RTRS-GREECE TO HIKE VAT BY 2 PCT POINTS TO 21 PCT – DRAFT BILL

RTRS-GREECE TO RAISE EXCISE TAX ON FUEL BY 3-8 CENTS/LTR – DRAFT BILL

RTRS-GREECE TO RAISE SPECIAL TAX ON TOBACCO TO 65 PERCENT FROM 63 PCT – DRAFT BILL

RTRS-GREECE TO RAISE DUTY ON ALCOHOL – DRAFT BILL

[safeorigin]

I'm sensing some "revolution" in the very near future already

[tidus1203]

Well its either they bite the bullet now or have to suffer an even painful problem later. I say do the former! Don't mind the communists and leftists!

[uls]

last week, i said the short Euro trade has become too popular

short squeeze

[safeorigin]

and they smell money yet again

As piles of base metals from aluminium to nickel build up due to poor demand, Goldman Sachs and JPMorgan have entered the little known but very profitable business of metal warehousing. The deals reflect banks' appetite for exposure to physical commodities beyond traditional commodities derivatives.
Stockpiles at London Metal Exchange's registered depots surge to an all-time high of 6m tonnes - up from 1m in 2007. Traders and bankers say warehousing is a classic "anti-cyclical" business as it flourishes when demand for metals is lacklustre and stockpiles mount.
"The business is booming right now," says a commodities banker in London.

http://www.ft.com/cms/s/0/75edd8b8-2...nclick_check=1

[ame="http://www.youtube.com/watch?v=7SFywA_LQuU"]YouTube- Goldman Sucks[/ame]

[uls]

^^^

the smart dudes know how to make money regardless of market conditions

when base metal prices are going up due to strong demand, the smart dudes make money from buying and selling futures contracts

when demand is low, what do they do? they go into the warehousing business

when demand is low, stockpiles of base metals build up

you gotta have somewhere to store it right?

here comes GS and JPM:

Goldman Sachs and JPMorgan have entered the little known but very profitable business of metal warehousing.

Goldman Sachs recently bought Metro International (operator of LME-approved warehouses)

Now, what does that tell us about the view of the smart dudes re demand for base metals?

investing in the storage business is a long-term bet

why the hell are the smart dudes investing in storage?

is it coz they think demand for base metals will be low for quite a while?

think think

[safeorigin]

sounds like there's an agenda going behind it

I mean, greek parliament on austerity plan; gold and silver momentum on plateau and now storage. It all adds up but me thinks there's something else

perhaps a confidence trick of some sort to test people's faith in gold?

[uls]

sounds like there's an agenda going behind it

I mean, greek parliament on austerity plan; gold and silver momentum on plateau and now storage. It all adds up but me thinks there's something else

perhaps a confidence trick of some sort to test people's faith in gold?

you've been reading a lot of news and correlating them to each other hehe

take it easy dude

the only agenda of the Masters of the Universe (GS, JPM and the other dudes) is to make money

the world is everchanging and they always find ways to make money regardless of environment

heck, they'll probably still find ways to make money in an environment after an asteroid crashes into Earth

---

Greece...

their govt has to do cut spending and raise taxes in order to restore investor confidence

if not, nobody's gonna lend them any more money

looks like their bond offering a couple of days ago was quite successful

---

gold

if you wanna enter into consipracy theory territory, there's no shortage of gold conspiracy theories

sabi nila the Federal Reserve and Bank of England have been suppressing the price of gold for a long time

[safeorigin]

I dunno, but people seem to buy the confidence trick.

[uls]

we know the paper money we're using is backed by nothing

we can't walk into a bank and say "i wanna redeem my gold"

hehe

as long as the paper money we're using is still being accepted by supermarkets, gas stations, department stores, restaurants, etc...

as long as they don't demand payment in gold coins...

we'll be using fiat money

we just have to do something to preserve its buying power

[safeorigin]

hmmm... is it a good idea to buy long term silver now?

[uls]

you mean if this is a right time to buy silver as a long term investment?

let's look at the price chart for silver:



kung ngayon ka bibili, mahal

whatcha think?

[Monseratto]

Did local fuel prices go up last night? Parang mentioned lang sa radio report but not in the nightly news...

[tidus1203]

Yes it did. Oil is now $82 a barrel in NYMEX trading...

[br733]

any educated guess on the direction of crude price within the next 2 weeks?