Revue de presse dorée

En vrac...

Les importations d'or en Chine en hausse de 500% d'une année sur l'autre :

Chinese Gold Imports Surge By 500% Through October

ZeroHedge, 02/12/2010 (traduire en Français  )

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it was disclosed late last night that China gold imports jumped by 500% in the first 10 months compared to all of 2009 on concerns of rising inflation according to the Shanghai Gold Exchange.

Bloomberg : Imports gained to 209 metric tons compared with 45 tons for all of 2009

209 tonnes... Plus de 10% de la production mondiale annuelle...


Sujet cher au GATA, la Banque Centrale Allemande refuse de parler au sujet d'éventuels swaps de l'or allemand avec l'or américain... Aujourd'hui, une grande part de l'or allemand est en gardiennage (en "custody") à New York. Et le GATA se pose pas mal de questions sur le fait que cet or n'aie pas servi à alimenter le processus de suppression de prix de l'or et aie été refourgué au marché bien que sur le papier, encore en possession des allemands...

Bundesbank joins Fed in demanding secrecy for gold swaps

GATA, 02/12/2010 (traduire en Français  )

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Germany's Bundesbank today joined the U.S. Federal Reserve in demanding secrecy for gold swap transactions involving those central banks.

The Bundesbank brushed off 13 specific questions posed by the German journalist Lars Schall, whom GATA had encouraged to pose the questions. The first of the questions was: "Does the Bundesbank have gold swap arrangements with the United States / Federal Reserve?"

The Bundesbank's refusal to answer Schall's questions can only heighten suspicion that use of German gold is central to the gold price suppression policy undertaken largely surreptitiously by the Federal Reserve, U.S. Treasury Department, and Bank of England.

A suivre...


Et de petits faux lingots, fourrés à un alliage complexe, circulent à Hong Kong :

Lots of fake gold shows up in Hong Kong

Financial Times via GATA, 02/12/2010 (traduire en Français  )

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Hong Kong goldsmiths have been sold hundreds of ounces of fake gold this year in one of the most sophisticated scams to hit the Chinese territory's gold market in decades.

Industry executives say the scam -- while not massive and hitting only the retail sector

"It's a very good fake," said Haywood Cheung, president of the Chinese Gold & Silver Exchange Society, Hong Kong's century-old gold exchange

Mr Cheung said he was aware of at least 200 ounces -- worth $280,000 -- of the fake gold that had been discovered by jewellers and pawn shops. But he estimated that 10 times that amount might have infiltrated the retail market.

In one case, executives discovered a pure gold coating that masked a complex alloy with similar properties to gold. The fake gold included a significant amount of bullion -- about 51 per cent of the total -- alloyed with seven other metals: osmium, iridium, ruthenium, copper, nickel, iron, and rhodium.

The complex nature of the fakes suggest they were produced by a metalsmith with sophisticated equipment and extensive knowledge of metallurgical engineering.

La BCE prolonge son guichet de soutien exceptionnel aux banques

Conférence très suivie aujourd'hui de la BCE.

Le buffet à volonté de soutien aux banques est prolongé. Officiellement, toujours pas de Quantitative Easing même si dans les faits, la BCE s'y est remise depuis quelque temps.

ECB Delays Exit as Trichet Buys Bonds to Fight 'Acute' Tensions

Bloomberg, 02/12/2010 (traduire en Français  )

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The European Central Bank delayed its withdrawal of emergency liquidity measures and bought more government bonds as President Jean-Claude Trichet pledged to fight “acute” financial market tensions.

The ECB will keep offering banks unlimited loans through the first quarter over periods of seven days, one month and three months. That marks a shift from last month, when Trichet said that the ECB could start limiting access to its funds.

Bond purchases will continue to be offset to keep the money supply unchanged, in contrast to the Federal Reserve and the Bank of England, he said.

“It’s not quantitative easing, we’re withdrawing all the liquidity,” he said.

Some strategists said the ECB’s refusal to follow the Fed and the Bank of England may soon end the rebound in bonds.

En tous cas, visiblement, les marchés ont aimé... +2,12% sur le CAC après l'annonce...


Sinon, aujourd'hui, on a eu aussi une émission espagnole qui s'est passée bof bof...

3,717% contre 2,527% pour la même échéance il y a 2 mois.

Spain Sells 3 Year Bonds At 3.717%, 119 bps Higher Than Prior Auction

ZeroHedge, 02/12/2010 (traduire en Français  )

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the government auctioned off €2.468 billion in three year notes for a whopping 3.717%. The bid to cover was 2.27 compared to 2.16 in October, and it was reported that foreign buyers bid above 60% of the auction (which means the ECB funded domestic banks bought about 40%). However, the same issued priced at 2.527% at the last sale on Oct. 7, a 119 bps difference.

En revanche, on a une grosse détente sur les taux par rapport au pic d'il y a deux jours :

Grèce	Irlande
Portugal	Espagne
Belgique	Italie (2 ans)
France	Allemagne

Want JP Morgan to crash? Buy silver

L'idée de Max Keiser de crasher JP Morgan avec tout le monde qui achète une once d'argent a été reprise dans le Guardian   

Max Keiser's Plan To Destroy JP Morgan Goes Mainstream, After The Guardian Posts His "Silver Squeeze" Thoughts

The Guardian via ZeroHedge, 02/12/2010 (traduire en Français  )

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ZeroHedge : if every person buys an ounce of silver, JP Morgan and its massive synthetic silver short position, will have no choice by the cover, face unprecedented margin calls, and possible lead to an end for the New York Fed's favorite bank.

Et l'article du Guardian :

Want JP Morgan to crash? Buy silver

The Guardian, Max Keiser, 02/12/2010 (traduire en Français  )

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it has now become clear that JP Morgan is sitting on what is estimated to be 3.3bn ounce "short" position in silver (which they have sold short, meaning they don't own it to begin with) in an attempt to keep the price artificially low in order to keep the relative appeal of the dollar and other fiat currencies high.

We posited that if 5% of the world's population each bought a one-ounce coin of silver, JP Morgan would be forced to cover their shorts – an estimated $1.5tn liability – against their market capital of $150bn, and the company would therefore go bankrupt.

Within a couple of hours, it went viral and hundreds of videos have been made to support the campaign.

Right now, silver eagle sales for the month of November hit an all-time record high and the availability of silver on a wholesale level is drying up.

Par contre, les chiffres donnés de la short position de JP Morgan me semblent un peu farfelus... On produit 20 000 tonnes d'argent par an. Ça voudrait dire que JP Morgan a une short position de quasiment 5 années de production... Ça n'a pas de sens...  

30ème semaine de fuite des américains des actions

Surement à relier au post précédent sur CNBC...

30 Weeks Of Consecutive Equity Fund Outflows

ZeroHedge, 01/12/2010 (traduire en Français  )

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   Flux hebdomadaire :


   Flux cumulé :

La propagande financière en galère

Les audiences de CNBC en chute libre...

Faut dire qu'avec des gusses comme Jim Cramer, ça fait envie...

It's 4 PM: Does Comcast Know Where CNBC's Viewers Are?

ZeroHedge, 01/12/2010 (traduire en Français  )

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Bill Gross enfonce le clou

Toujours la lettre mensuelle de Pimco par Bill Gross, qui ne mâche pas ses mots contre la FED et la politique suivie :

Allentown

Investment Outlook via ZeroHedge, Bill Gross, 01/12/2010 (traduire en Français  )

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The global economy is suffering from a lack of aggregate demand. In simple English that means that consumers are not buying enough things and that companies are not hiring enough people because of it.

With insufficient demand, nations compete furiously for their share of the diminishing global growth pie. All look to borrow growth from somewhere else.

These policies only temporarily bolster consumption while failing to address the fundamental problem of developed economies: Job growth is moving inexorably to developing economies because they are more competitive.

The second route to the level playing field involves political and financial chicanery: trade and immigration barriers, currency devaluation and military domination of foreign oil-producing nations. It is by far the less preferable route, but unfortunately the one that is easier and, therefore, most politically feasible. Politicians do not get elected on the basis of “sacrifice.” They get elected by pointing to foreign demons, be they in the Middle East or in Asia. The Chinese yuan is a far easier target than the American workers earning ten times their Chinese counterparts and producing an inferior product to boot. Politicians also get elected by promising to keep taxes low, even for the rich, with the argument that small business owners cannot afford the increase. The real beneficiaries however, are the mega-millionaires of Wall Street and Newport Beach. And yes, policymakers at the Fed write trillions of dollars’ worth of checks under the guise of quantitative easing, a policy which takes Charles Ponzi one step further by purchasing the government’s own paper in a last gasp effort to support asset prices.

Faced with these two decidedly different routes to “level the playing field” it seems obvious that the United States is opting for “Easy Street” as opposed to “Buckle Down Road.”

Unless developed economies learn to compete the old-fashioned way – by making more goods and making them better – the smart money will continue to move offshore to Asia, Brazil and other developing economies, both in asset and in currency space. The United States in short, needs to make things not paper, but that is not likely unless we see a policy revolution in Washington DC. In the meantime, pour unemployed will continue to fill out forms and stand in line.

Et la vidéo à laquelle il fait référence avec Le Ben Bernanke: