GREEK 1 YEAR BOND @ 128.94%
Can you imagine that? If you had a million clams and the Greek 1 year bond would survive a year, you could make $1.29 million dollars on a million dollar investment. I am completely amazed by all the crap going on today. All the economic indicators came out negative and the DOW PUSHES higher.
I am still working on the PEAK SILVER ARTICLE, but had to come in here and give you all my TWO CENTS. Also for those who do not know what the EROI is….it is the ENERGY RETURNED ON INVESTED. U.S. Oil and gas in 1930 was 100/1, in 1970 it fell to 30/1 and in 2000 it had fallen to 11/1. Today I would assume it is below 10. This means for every unit of energy invested in oil or gas it now provides less than 10 units of energy. This will be explained more in my article and why it is so important of a factor.
HOW ON EARTH IS GOLD AND SILVER DOWN
....when the whole European market is getting ready to implode. Hell, even the US Dollar is down today. Uncle Ben has got his finger in every market today I am surprised CNBC just doesn't take a vacation for the next week stating reasons of "INABILITY TO MAKE ANY STUPID FORECAST DUE TO THE FED'S HAND IN THE MARKET".
Resource Nationalism tops mining/metals risks for 2011-12—E&Y
RENO, NV -
Ernst & Young's latest mining and metals report cites resource nationalism as miners' top risk for 2011 while skills shortage, capital allocation and infrastructure access continue to dominate the business agenda.
In the past 12-18 months, 25 nations have increased or announced their intention to mining taxes or royalties, as some have invoked "use it or lost it" clauses.
Governments worldwide are looking to increase local participation in mining projects "and we think this trend will only increase," said the E&Y report, "Business risks facing mining and metals 2011-2012.
.....Infrastructure access climbed from its sixth ranking in 2010 mining business risk to third among the 2011-2012 risks. "The lack of available infrastructure means that production cannot get to the markets where the demand is," said the report.
"A lack of sufficient rail networks appear to be the largest global bottleneck," said E&Y. "However, if the sector is meet the expected supply challenges for the expected growth in demand from the rapidly developing economies, greater innovation is required to bring together producers, customers, infrastructure, operators, financiers and governments."
Did Wages Top Out with Domestic Oil?
Was it coincidence that wages topped out with domestic oil production? Perhaps not.
Yesterday we considered the possibility that it was not coincidence that the U.S. abandoned the gold standard at almost the precise point that domestic oil production topped out, launching a need for vast quantities of imported and increasingly costly oil.
Today we further that idea by suggesting that labor's share of the national income--a more important metric of household fiscal health than the widely trumpeted GDP--also topped out in that same time frame for the same reason: the economic wealth was all based on abundant cheap domestic oil. Once that foundation eroded, then a multitude of tricks were needed to create the illusion of advancing household wealth.
You can continue reading the article from the link provided above. This goes further to prove that all the derivatives, money printing and TOM FOOLERY was to keep the illusion of a productive economy going for several decades longer than it was physically possible.
Here is a tidbit that ONLY YOU ALL AT SILVERGOLDSILVER will know before my article comes out:
AS OF TODAY SAUDI BREAK EVEN OIL PRICE IS $84 a BARREL
Anyone who tells me that SHALE OIL is our savior...I will look you in the EYE and tell you that if the SAUDIS (cheapest oil on the planet) break even is at $84 a barrel, there is no way shale oil will save us. Let me make this perfectly clear, SHALE OIL will COST A GREAT DEAL MORE. Is anyone familiar with the name Porter Stansberry? He is the person who put together the video “END OF AMERICA 2011” which was advertised on many main stream media networks like CNBC. Hell, Alex Jones did the narration.
Porter Stansberry and his crew of analysts are now pushing SHALE GAS and OIL as the next savior. Porter thinks oil is overpriced due to money printing. He has no science background or grounding in geology. The Falling EROI is creating havoc in the world economies especially the western ones. In future articles, I plan on tearing apart Porter Stansberry’s lousy investment advice on Shale Gas and Oil. The decline rates in both of these fields are off the charts. Remember, the US Suburban Leech & Spend Warehouse-Strip Mall Economy was designed on $20-$30 a barrel oil.
ITS GAME OVER BABY....
You got your SILVER?