Thursday, February 24, 2011

Oil jumps to $ 120


Oil prices rose Thursday to $ 120 a barrel due to escalating fears of a severe shortage of supplies on the market in light of reduced exports from Libya, and the continuing turmoil in the region.

The price of European Brent crude today during the European trading more than eight dollars to reach $ 120 a barrel.

The price of Brent crude reached $ 110 yesterday, a new level in the range is the highest in two and a half year.

During Asian trading today, jumped U.S. light crude for more than three dollars to reach $ 102 a barrel.

The Western companies had suspended its work in Libya and withdrew its staff, while the rebels announced Libyan control over strategic oil installations, including facilities on the Mediterranean coast.

It is noteworthy that Libya - which has the largest oil reserves in Africa - were produced before the outbreak of the revolution of February 17 by 1.6 million barrels per day, only mostly to European countries such as Italy and Germany.

Fears
While prices have risen to levels of growing Western concern, expressed the U.S. bank Goldman Sachs on fears of a disruption to the largest supply of a wider unrest in the region.

However, Saudi sources confirmed that Saudi Arabia is willing and able to provide high-quality light crude to offset supply disruptions Jamahiriya, which means bridge the shortfall that drives prices to high levels.


The memorandum stated that the same price of a barrel of oil exceeded $ 120 would be a threat to global growth.

Silver Breaks $34 an ounce!!! Oil Super Spike!

Back in 2001, 10 years ago, I told people to buy silver when it was $5 an ounce. I said it would go over $20 that decade; also, in the next over $100 / oz. Debunkers said we are not going to use silver anymore. That is because we are leaving film and going to digital cameras. Then in 2008 it crash from 20 to 8 and they said "Oh see, silver was a bubble and you were wrong." I did now sell any. OK now they claim they always knew silver was going up. That said, they did not buy a single ounce.


Pre-1964 U.S. 90% silver coins, dimes, quarter, and half dollars are in the U.S., often referred to as Junk Silver. Good to hear that in Europe silver is being accepted as payment by some. It a good start. In some parts of Asia, silver is not regarded highly or as money. Gold is king there. No VAT in many countries on gold, including parts of Asia. Check around if you may need to travel light.
Gold is preferred here. I was astonished by the fine jewelry available in Turkey in December. I really prefer coins, rounds, and ingots, however. The jewelry I just sold here, I don't think I got a great price on. I think a solid chunk is easier to get a grip on. I just got a set of heavy silverware, all complete, for five euros. It is crazy. I see beautiful copper household objects here for sale, too, in my nabe, and wonder why there are no takers.

$400 Silver, Extreme Backwardation: James Turk on Goldseek Radio

James Turk & Chris Waltzek - February 23, 2011
$400 Silver, Extreme Backwardation: James Turk on Goldseek Radio


Eric Sprott : There is No More Silver! The Government Lied...

Speaking at the Casey Research Gold and Resource Summit, Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left."


Money or currency is something that can be exchanged for a good or service. You can do this with things like food and water, its just that some people prefer to do it with gold because of the properties that it has.

fungible

divisible

not based on debt

Doesn't go bad

Debt based currencies usually fail, thus gold is preferable to that. Gold is also preferable to water and food because it doesn't go bad and it you don't need large amounts to trade.

Eric Sprott : No silver left

No silver left to go around says Eric Sprott and the numbers prove it
Speaking at the Casey Research Gold and Resource Summit, Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left."

Donald Trump we are tired of being ripped off by China and OPEC 2/23/11

From The Desk Of Donald Trump 2/23/11



Donald Trump : we are tired of being ripped off by China we are tired of being ripped off by the OPEC , and by almost anybody that does business with us , we are tired of giving state dinners for head of countries that do nothing but take advantage "... ....
Donald Trump rates Obama as a CEO of a Company with a C , or may be lower than that he says ...we do not have the right leadership to have America back as a great country....

Higher Oil Prices Would Hamper Economy

Just as the U.S. and global economies are finally strengthening, they face a new danger: Rocketing oil prices. (Feb. 24)

Preparing for bond market risks with flexibility and diversification

Gary Madich, CIO, Global Fixed Income, Columbus, believes investors should prepare for this year's bond market risks with flexibility and diversification.

Gold & Silver: Cling to Commodities in a Crisis

Feb. 22 2011 | Gold & Silver : Cling to Commodities in a Crisis   Martin Hennecke, associate director at Tyche, expects a sovereign debt crisis in the U.S. and Europe, and consequently advises to hedge against such crises by investing in precious metals and energy. These safe bets give you freedom to take risks on other opportunities he explains to CNBC's Chloe Cho, Anna Edwards and Yousef Gamal El-Din.

Gold To Continue Long-Term Upward Trend

Gold To Continue Long-Term Upward Trend
Feb. 22 2011 | Kingsgate CEO Gavin Thomas is optimistic about the second half of the year despite posting a 65% fall in consolidated interim net profit. He shares his upbeat outlook, with Michael Yoshikami of YCMNET Advisors and CNBC's Martin Soong & Sri Jegarajah.

Inflation Protection Gold & Silver

Inflation Protection ~ Gold & Silver ~ Are you protected from hyper-inflation and stock market crashes... the wealthy balance their investments with commodities... have you followed their example yet?

The commodities markets, oil, gold and silver soaring in light of events in Liby

Commodities Tomorrow
Feb. 23 2011 | CNBC's Sharon Epperson discusses the day's activity in the commodities markets, including where oil, gold and silver are likely headed in light of events in Libya, Yemen and the rest of the Middle East.

$400 Silver, Extreme Backwardation: James Turk on Goldseek Radio

James Turk with Chris Waltzek - February 23, 2011

James Turk is founder of GoldMoney.com, which operates the leading digital gold currency. He also publishes the Freemarket Gold & Money Report, an investment newsletter he founded in 1987. Previously, after a decade with the international department of Chase Manhattan Bank, he managed the commodity department of the Abu Dhabi Investment Authority. His media appearances include GoldSeek.com, CNN, Bloomberg, CBSMarketWatch, CNBC, Barron’s, the Wall Street Journal, and Financial Sense Online.

Gold Price at a 7 week high

Feb. 23 2011 | Kelvin Tay, chief investment strategist, Singapore at UBS, says gold must breach a specific price point before other metals move significantly higher. He shares his thoughts, with Daryl Guppy, CEO of Guppytraders.com and CNBC's Karen Tso and Martin Soong.

Oil Prices Could Move to $150

Feb. 23 2011 | Aaron Smith, MD of Superfund Financial, says if oil moves above $102 a barrel, it could continue in a "massive" uptrend. He tells CNBC's Chloe Cho, Anna Edwards and Yousef Gamal El-Din that West Texas crude oil prices may hit $150 by year-end.

Middle East Driving the Forex Market

Feb. 24 2011 | As the Swiss franc hits a record high against the U.S. dollar, Lee Wai Tuck, currency markets strategist at Forecast, says the geopolitical crisis in the Middle-East will remain the focus of the currency market, regardless of forthcoming U.S. jobs and housing data. He speaks with CNBC's Chloe Cho, Anna Edwards and Yousef Gamal El-Din.

Currencies and the Oil Rise

Which Currencies Rise With Oil?

Feb. 24 2011 | "The oil price is going up because of risk… therefore analyze currencies via risk," David Bloom, global head of foreign exchange strategy at HSBC, said. This is why the Canadian dollar, among others, was not boosted by the recent spike in oil prices, he added.

Libya Revolution and Oil Addiction

February 23, 2011 CNN :
Our Total Dependence On Oil Is like Building A Home Next To A Volcano & Now The Volcano Is Rumbling



Our total dependence of the value of money, purely being based in the confidence for the return is like building the society like a casino. The bank always wins. Oil be one resource, better look at the root, the insane confidence in banks and interest based currency. It's like trusting there will always be calm waters when boating without life-west.
DAILY NEWS ON BOOZE