iCharts Discussions

[trader_roshan]

Markets have not discounted change of Guard at top levels tonite...be ready with your PUTS, as total face change to govt is on cards

[pkholla]

RK: My comment was aimed at the diehard optimists who see a -0.7% growth as positive news! Keep posting. Great stuff! Prakash Holla

[rk_a2003]

Sometime back Obama said India has to open up for FDI.QE3 was announced and sustained the bullish sentiment in the world markets. UPA Govt. announced policy decision to open up FDI in different sectors in synchronization with QE3 and notified it consequently. FII funds flooding in to the markets and pushing up Index.

Can anyone think that the above series of happenings were quite coincidental? No one can. Then, what is the course of the Indian markets in the near future ahead?.

A coordinated effort is launched to push up the reforms and the markets. It will go on at least for some time.

[vinay28]

of course it was well planned rk but what's that to us? By the way, if I remember right, chiddu's wife or some relative was head of coimbatore exchange many many years ago.

[rk_a2003]

[vinay28]

yes rk, FIIs have already started discounting 2013. once good results start coming in, they will start selling by which time retail participation (at least through mutual funds) would have increased. May be after diwali? Or after 3rd quarter results start trickling in?

[rk_a2003]

[vinst]

RIL qtrly chart poised just below multi-year downsloping trendline.
above the line, mkt should be very bullish in general. It may also indicate very bullish crude oil or indian retail sector.
x-axis is number of quarters.

[rk_a2003]

SNIPPETS

◦A popular company’s IPO was withdrawn on the ground of poor market conditions in USA when markets are nearly at all time high. So, when market is at all time high it is not considered as good market! Wow, if it is not, then why it is at all time high?.The answer is better known to American business community.That’s why they are even not coming for IPO.

◦More talks are in the air that Bernanke might resort to Q.E. 4 after very recent actions dubbed as Q.E 3.So even before fully launching QE3 they know that it is going to fail.

[rk_a2003]

Significant downward movement in the markets will come only after frustrating bears a lot .The movement will be initiated when no bear have guts or energies left to take up a short trade.

I think it's at least a few quarters away. The results coming out of USA companies are really hollow. They are half truths, they wll be revealed in due course.

"Almost 3 major banks such JP Morgan, Wells Fargo and Citi group reported rising mortgage related revenue. These numbers are shown by many analysts as encouraging signs of improving economy. While Home Sales are down and median home prices are shrinking, how these banks are able to raise their mortgage business by 22% or more. It can not be, but the reason is that many home borrowers are refinancing their past mortgages. So they liquidate the old mortgage and take on new mortgage at lower rates. Such new business is really not new, but old wine and new bottle. Who cares for real numbers?

Retail sales was also shown to be another sign of economic recovery, but the fact is that September figures were skewed by Apple Computer’s latest hit of IPAD and I phone 5. If one eliminates the one company number, the rest of the numbers are pathetic. However, the government sponsored media such as CNBC go on reporting erroneous recovery reports that has effect of boosting the market. Nevertheless, the retail participation in the market is still shrinking. They know what is happening in job market."(Courtesy:Anil Selarka)

[rk_a2003]

German calls for Gold Repatriation Intensify as Fed Refuses to Allow Inspection

Calls for Germany to repatriate its 1,536 tons of gold reserves held at the NY Fed are intensifying as Der Spiegel reports the Federal Reserve has refused to allow German inspectors to even view the country’s massive gold reserves “in the interest of security and of the control process“.

With repatriation and/or audit requests completed or in progress by Venezuela, Germany, Switzerland, and the Netherlands, The BOE and the Fed suddenly find themselves in a heap of trouble as the situation (and confidence that the Central banks actually still hold the tungsten gold reserves on deposit) is rapidly deteriorating.


More on the Fed’s non-compliance with German requests to view/inspect their own gold below.

Der Spiegel reports that nearly half of Germany’s entire gold reserves are still held (supposedly) 5 floors below the NY Fed:

The Federal Reserve Bank of New York continues to hold 1,536 metric tons of German gold — or nearly half of Berlin’s reserves. This enormous hoard of gold is stored in the fifth subfloor of the bank’s building on Liberty Street, 25 meters (80 feet) below street level, and 15 meters below sea level. According to the bank’s website, the vault rests on the bedrock of Manhattan Island.

The Fed has reportedly denied German requests to view their own gold reserves, ‘in the interest of security’:

Tourists are allowed to venture below street level to see the vault. After descending in an elevator, they stand in front of an enormous steel cylinder that pivots like a door in a 140-ton steel-and-concrete frame. But not even the owners are allowed to view their own gold. According to the Federal Audit Office report, the Fed explained that “in the interest of security and of the control process” no “viewings” are possible.

Of the 9 compartments supposedly storing German gold, German officials were finally allowed to briefly view a few bars from a single compartment in 2011:

Finally, in 2007, “following numerous enquiries,” Bundesbank staff members were allowed to see the facility, but they reportedly only made it to the anteroom of the German reserves.

In fact, auditors from the Bundesbank made a second visit in May 2011. This time one of the nine compartments was also opened, in which the German gold bars are densely stacked. A few were pulled out and weighed. But this part of the report has been blacked out — out of consideration for the Federal Reserve Bank of New York.


Unlike the US financial MSM, the German media is willing to discuss not only the question of whether the Federal Reserve has absconded with Germany’s gold, but also the risk of a collapse of a fully fiat currency:

The debate over a collapse of strictly paper-based currency is experiencing a renaissance — as is the dispute over the gold reserves. Even Green Party financial expert Gerhard Schick has joined the fray: “I think the question of how much gold is available in an emergency is a valid concern.”

Not surprisingly, Bundesbank officials are attempting to smooth over German concerns about their gold reserves, with board member Thiele snidely remarking that he took a look inside of one of the vaults at the NY Fed recently, and “There was no paper in there, just gold.“:

The Bundesbank also objects to this notion for another reason. It says the gold is supposed to act as an emergency buffer. In the extreme situation of a currency collapse, the bankers say that the gold bars could easily and quickly be exchanged on location for pounds or dollars to pay urgent bills.

In a bid to calm the debate, the Bundesbank has pledged to bring back and inspect 150 tons of gold from abroad over the next three years. Furthermore, there are plans to count and weigh the gold bars stored in one of the nine chambers at the Fed in New York — although no date has been set for this.

Bundesbank board member Thiele was also recently in New York where he took a look behind one of the vault doors. He had good news for the members of the parliamentary budget committee: “There was no paper in there, just gold.”

While Bundesbank officials likely understand the reality (much better than German politicians do) that a German repatriation of it’s entire 1,536 tons of gold reserves held at the NY Fed would likely cause a complete Western financial collapse if/when the Fed failed to promptly deliver said gold (tungsten free), confidence in the Fed and the BOE has clearly been shattered, and it is now only a matter of time for an absolute mad run on every last gram of physical metal underneath the NY Fed ensues.


ANY COMMENT AFTER READING ABOVE FACTS?!

Common sense dictates that there can only be one reason to refuse a legitimate audit of the German gold held by the FED. That reason is THE FED DOES NOT HAVE THE GOLD

[rk_a2003]

Analysis based on just visible factors may not take you anywhere near truth in Gold and Silver fall. There are so many factors attributed by analysts responsible for this fall.

Cyprus is going to sell gold reserves (How much? it was said around 19 tons?!)

World recovery is not as much as expected (well, whose expectations?)

Chinese muted growth.(Who expected fire crackers from Chinese growth?)

US signals for not continuing QE (Already world is flooded with $ tsunami; Is it in a position to take some more?!)

After giving so many reasons and realizing that none of it is offering a convincing answer now some experts are saying nobody knows the reason for this fall…..ha…haa…haaa

Gold is appreciating not because of any intrinsic value, Just because of attributed exchange value accepted universally. When fiat currencies which are just paper are floating extensively all over the world there is no other viable alternative left for them other than precious metals like Gold.

For this very reason US and its allies always try to hammer gold whenever possible.

This could very well be such a plot by them. They have muscle money and power for it. They may succeed for some more time but inevitably gold will bounce up to new highs (be cautious ….may not be in near future) not because of its greatness just because of the deeds of the very perpetrators responsible for this fall. In fact, Gold attained this status only because of them and only they will be responsible for the future glory of this metal.

[doctorshah]

rk The news is that Indian Banks have imported 15-20 tons of gold within last2-3 days to tide over physical gold buying

[vinay28]

According to one theory, 50 bear cycle in gold started late last year.

[pkholla]

In Die Hard 3 (1995 release), the hero, John McClane, saves the gold stored in New York vault of NY Fed from German terrorists led by Simon

In real life, a hero is required to save the German investor from Federal terrorists!!!

What a delicious IRONY! Prakash Holla