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XMFSinchiruna (27.52)

June 2008

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20

Credit crunch forcing US middle classes to live in their cars

June 30, 2008 – Comments (3)

Interesting that I had to learn about this emerging issue from a British newspaper.  This story focuses on S. California.. but I'm particularly concerned about folks living in less temperate climates.  This is shaping up to be a very tough winter for untold thousands of Americans.  I am deply saddened that it has come to this.  It was all avoidable... The culprits, lest we forget, are the Fed (going all the way back to their creation), Presidents Roosevelt, Nixon, and Bush... (with contributions from every one between them)... greedy bankers... etc.   [more]

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28

Gold not for you? Here's the next great commodities boom!

June 27, 2008 – Comments (13) | RELATED TICKERS: ACH , RTP.DL

Please have a look at my last article.  I strongly believe we are in the early stages of a bull market in Aluminum.  The article I think lays a pretty solid foundation for why I believe so.  I'd love to know what you think.  As always, opposing views are also most welcome.  Let's talk about it... come to our own conclusions... that's what makes CAPS so great!  :)  [more]

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20

Barclays Warns of a Worldwide Financial Storm

June 27, 2008 – Comments (1)

More and more signs of acceptance among the world's major institutions of the inevitability of stagflation.  The willingness to go public with such warnings is a second step in my opinion... they've seen this all coming for some time... if it was clear to me and other independent-minded Fools, I know it can't be grabbing all these experts by surprise all of a sudden.  There's simply an acceptance that it is now truly unavoidable and imminent... so they have nothing to lose by warning their clients.  [more]

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17

Fitch withdraws ratings on Ambac, MBIA

June 27, 2008 – Comments (0)

I don't know which is more alarming... the fact that the ratings have been withdrawn, depriving investors of their right to know something about the financial state of two companies that are cricual to the health of so many other kinds of investment vehicles... or whether the rating was pulled at the request of the companies in question.  The latter leaves me with a very uneasy feeling.   [more]

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18

London Metal Exchange CEO Debunks the Myth that Speculation is the Culprit for High Prices

June 26, 2008 – Comments (4)

Don't be duped by the spin machine, Fools.  Interventions by governments into free markets always fail, and with consequences that are crippling to markets.  These statements from the LME make U.S. politicians like Lieberman look like idiots, though they do a pretty good job of that themselves, IMO.  And George Soros... the once-revered commodity trader... I have no idea where his allegiance lies now.  He's either just wrong, or he's agreed to be a messenger for the intervention camp.    [more]

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27

Supreme Court Slaps Alaska Natives, Fishermen, etc. in the face!!!

June 25, 2008 – Comments (10)

This is an outrage and a cold slap in the face to the people who suffered very real and long-standing losses relating to this spill.    [more]

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The Dow... Priced in Gold

June 18, 2008 – Comments (4)

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Mining Sector M&A Activity Gearing Up for a Big Year!

June 17, 2008 – Comments (4) | RELATED TICKERS: RIO , RTP.DL , FCX

  [more]

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22

The 'D-Word' Uttered by the Fed's Fed.... Oops!

June 13, 2008 – Comments (4)

Well... this has to be rather embarrassing for Paulson and Bernanke... The BIS is the central bank to the central banks, and this is a straight-up slap in the face to Bernanke for his 'loose monetary policy'.  You reap what you sow, Ben!  While I do admit to taking pleasure in imagining Ben squirming as reality bursts the balloons of his pro-dollar hocus-pocus verbiage, I am always careful to state clearly that I am deeply disturbed by the underlying reality that Americans are facing.  This begins as a financial meltdown, but could well become a humanitarian nightmare.    [more]

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20

While politicians look to lynch index funds, shorts are the more harmful commodity speculators

June 11, 2008 – Comments (6) | RELATED TICKERS: RIO , XOM , GS

The following article by Ted Butler is right on the money.  I have been following the short activity on gold and silver on a regular basis for several years now.  The price manipulation by the largest shorts is clear as day when you track the COT and then compare it to what follows with prices.  [more]

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20

Rising Steel Prices Show Few Signs of Abating

June 11, 2008 – Comments (8) | RELATED TICKERS: MTL , SID , X

Great primer on the steel industry from the blog on Louis Navellier's website:  [more]

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23

Endeavor Silver - seriously overlooked?

June 07, 2008 – Comments (4) | RELATED TICKERS: EXK

Safe Haven sure seems to think so.  I agree, and have have held this view for a very long time.  [more]

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27

An important list! The tally of $335 Billion in write-downs listed by company.

June 05, 2008 – Comments (6)

A few months ago, I spent many hours collecting the data necessary to tally the $200 billion figure which appeared in my February article about the mortgage crisis.  I am relieved to see that someone is tracking and compiling this data now, as it is a crucial ingredient to understanding the scope of the overall credit crisis.  However, keep in mind that this list does not tell the whole story.  Many creative accounting processes, many of which have no basis in rationality, are being used to prevent these write-downs from reaching much higher levels.  Any such understatements of losses, though, will be only temporary smoke screens.  [more]

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17

Steel prices pointing straight up

June 04, 2008 – Comments (2) | RELATED TICKERS: RIO , X , MT

As long as I'm posting images that speak volumes, how about this steel price chart!  I have delved deep into the coal and iron ore industries, and I can unequivocally state that there is no relief in sight from rising input costs for the steel industry.  The price of steel, therefore, is just getting warmed up.

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