muses of the moment

March 31, 2011

Housing Phase Shift

Filed under: Housing Market, The Banking Crisis, The Dollar Crisis — totallygroovygirlfriday @ 1:27 am

Charles Hugh Smith from Of Two Minds has an excellent post about where the US Housing Market is headed. Hint: it is not up.

Click here.

groovygirl agrees with Mr. Smith’s price targets and time lines. As you may already know, Martin Armstrong believes the housing market will be at 1950’s prices (adjusted for inflation) by 2032. If he is right, Mr. Smith’s prediction is short-term on a very long-term decline in housing. Keep in mind that housing prices could go up in “dollars” because of all the money printing, but really be declining in real prices.

Remember, if no one can get a mortgage, no one can buy a house. We are making the very painful move from a debt-based housing market to a cash-based housing market. It will be drawn out and not pretty. But those that have capital, will get fantastic bargains in time.

March 30, 2011

JP Morgan’s new silver vault

Filed under: Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 1:09 am

Click here. JP Morgan now has its own silver vault licensed by the COMEX. They can take delivery of their huge short position and lie about having the actual physical silver.

But groovygirl, JP Morgan would never lie to the COMEX and investors and falsify their balance sheets……

This vault will NEVER have an independent audit. And if they do, observe the line of Brink’s trucks before and after the official visit.

JP Morgan must resort to this slight of hand because if they had to liquidate their silver short positions, they would be bankrupt. And the government and COMEX will let them lie, because they would be bankrupt (dollar would crash, market would fall) without JP Morgan.

You don’t know it yet, but the physical silver in your hand just became extremely rare. Soon price will meet and exceed reality. It is only a matter of time.

Here is Harvey Organ’s post about the latest from JP Morgan. Click here. So will JPM “let” silver rise since they now can write in any amount to cover the short positions?

March 29, 2011

The silver that wasn’t there

Filed under: Gold and Silver Investing, Precious metals — totallygroovygirlfriday @ 1:03 am

Another class action lawsuit, this time against UBS, for charging storage fees for physical silver that is not really allocated to the customer, but instead leased out to other parties for a fee.

Click here.

This going to be a a huge mess, get your physical silver now, and don’t put it in a bank vault. If you have silver in a bank, make sure to personally visit it regularly.

March 28, 2011

What will be the trigger?

Filed under: Credit Derivatives, Fiat Currency, The Federal Reserve, The Financial Crisis — totallygroovygirlfriday @ 1:41 am

What will be the trigger for the next leg down in the global debt implosion?

Take your pick….click here.

Currently, groovygirl is betting on the collapsing Japan economy causing the collapse of another derivative-lined bubble to pop. But this is just the next crisis to enable even more money printing.

The final crisis is not here yet, just closer than yesterday.

March 27, 2011

Newest Gulf Oil Leak

Filed under: Odds 'n ends — totallygroovygirlfriday @ 1:33 am

A week after the latest oil leak (over a 100 miles long) was discovered, a drilling company finally acknowledges that it was more than they thought from an abandoned well no doubt. Interesting. Click here.

This article reveals the true problem, reporting oil leaks is “on the honor system”.

March 26, 2011


Filed under: The Banking Crisis — totallygroovygirlfriday @ 2:35 am

Only one bank down yesterday. It’s been pretty tame at the FDIC lately. It is amazing what imaginary balance sheets can do. Click here.

March 25, 2011


Filed under: The Federal Reserve, The Financial Crisis — totallygroovygirlfriday @ 2:25 am

All good interviews this week. Click here.

Update on various news stories that gg thinks are important. Google for more info.

Japan has now expanded radiation zone to 30km and says situation is grave. GG is awaiting the next leg down on the impact from this crisis. We just seem to get more and more bad news as we move along  here.

Syria now has protesting of its own. This is significant development in the mini revolutions and protests taking place through the Middle East. Apparently gunfire is reported in the area, possibly directed at the protesters.

Egypt has declared protesting illegal. This will just make people mad and they will go underground. Revolutionaries underground is much worse than protesters in a public square.

John Williams confirms, nothing is fixed, this is not a recovery. From today’s subscription-only release:

– Unlike Reported GDP, GNP and GDI Have Not Recovered Pre-Recession Highs
– GDP Revision Reflected Weaker Consumption and Higher Inventories
– Home Sales Plunged Anew in Tandem with Housing Starts

Portugal and Ireland are sinking quick, more bailouts and printing of money. Apparently Greece is under pressure again too. None of this is good.

March 24, 2011

Martin Armstrong’s letters

Filed under: Martin Armstrong — Tags: — totallygroovygirlfriday @ 1:29 am

A few of Martin Armstrong’s letters from the late 80’s and early 90’s have been republished. Click here and here and here. Shows that Martin has been on top of the situation, even 30 years ago….

Update: silver currently at $38.05. Gold reached $1445 today, but was slammed down because it reached Jim’s gold angel price of $1444.

March 23, 2011

Bubble, bubble

Filed under: Dollar Crisis, Fiat Currency — totallygroovygirlfriday @ 1:00 am

Great interview over at Chris Martenson’s website via zerohedge with John Rubino. Click here.

March 22, 2011

Latest GEAB N53

Filed under: Dollar Crisis, Economic Crisis, Fiat Currency, The Federal Reserve, US Government Debt — totallygroovygirlfriday @ 1:43 am

GEAB N53 has their latest summary out. Click here.

Basically the crisis in Japan and the continuing issues in the Middle East will accelerate their original call for US bonds taking a huge hit in the second half of 2011.

They mention some other items that were interesting. The complete lack of leadership and corroboration in the US to deal with the severe bond decline in 2011. The lack of political will for Ben to begin QE3 or a continuation of current QE2 (of course, that may not stop him). Budget austerity and itsextreme pressure on munis. And of course, PIMCO’s recent move to dump all US Treasuries and hold cash.

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