S&P 500
1992.37
+5.86 +0.29%
Dow Indu
17039.49
+60.36 +0.36%
Nasdaq
4530.65
+4.17 +0.09%
Crude Oil
93.89
-0.07 -0.07%
Gold
1277.845
-12.190 -0.94%
Euro
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+0.002985 +0.23%
US Dollar
82.189
+0.030 +0.04%
Weak

New Video: Don't you wish you had a printing press?

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 13th of December.

DON'T YOU WISH YOU HAD A PRINTING PRESS?

Once again Chairman Bernanke comes to the rescue by stating that he wants to keep interest rates low forever. Not a problem Ben, just keep printing money until it's worthless. As a private citizen of the U.S. you're not allowed to have a printing press to print money, there's a reason for that, it's against the law. It seems to me that Bernanke and the Fed are pretty much doing what they want, and who cares if the money just keeps going down and down and down. The government has been pushing the dollar lower for years. One major concern I have is that you cannot remain a superpower for long with a fiat currency.

Fiat money originated in 11th century China, and its use became widespread during the Yuan and Ming dynasties.The Nixon Shock of 1971 ended the direct convertibility of the United States dollar to gold. Since then all reserve currencies have been fiat currencies, including the U.S. dollar and the Euro.

Next challenge …

A NEW TV SHOW IN THE WORKS?

This could be the longest drawn out cliffhanger of all time. The way things work here in America it's probably going be turned in to a TV series named the "THE BIG FISCAL CLIFF".

IT IS ALMOST HERE AND IT WILL ARRIVE THIS FRIDAY!
Watch our blog posting this Friday when we will announce what the big news is.

S&P 500 (Cash) : Higher for the week
CLOSED LAST FRIDAY AT 1,418.07

CRUDE OIL (Jan) : Higher for the week
CLOSED LAST FRIDAY AT 85.88

GOLD (Spot) : Lower for the week
CLOSED LAST FRIDAY AT 1,704.29

COPPER (Mar) : Higher for the week
CLOSED LAST FRIDAY AT 3.6640

EURO (Spot) : Higher for the week
CLOSED LAST FRIDAY AT 1.2926

SILVER (Spot) : Lower for the week
CLOSED LAST FRIDAY AT 32.98

Have a great trading day,
Adam Hewison
Founder & President INO.com and co-founder of MarketClub.com.

Click Here to view today's video

Comments

  1. bailintheboat says:

    Apparently counterfeiting is good for an economy.

  2. Earl E says:

    An endless supply of Fix It Again Tony (Ben) money sure can raise cane with the markets. They certainly are doing a job on precious metals as a store of value. Some have mentioned that the value of our reserves of Natural Gas and Oil would bail us out. Think again. The proven reserves are worth about Three Trillion US Dollars if the EPA doesn't get further extreme and add to the cost of extraction. The Fed is in the hole for a guesstimated (Off Balance Sheet) Nine Trillion Dollars less what is claimed they have earned on the AIG bailout which is estimated at 600 million after deducting 12% for the cost of capital. I think Ron Paul was anxious to find out how much the taxpayers will owe in taxes to bail out the system. Likely wasn't a bad idea.

    The late Senator Everett Dirksen was pretty astute in putting things into perspective with his famous quotes like
    "a billion here, a billion there, and pretty soon you're talking real money" and the one about the cat in the well,
    ""One time in the House of Representatives [a colleague] told me a story about a proposition that a teacher put to a boy. He said, ‘Johnny, a cat fell in a well 100 feet deep. Suppose that cat climbed up 1 foot and then fell back 2 feet. How long would it take the cat to get out of the well?'
    "Johnny worked assiduously with his slate and slate pencil for quite a while, and then when the teacher came down and said, ‘How are you getting along?' Johnny said, ‘Teacher, if you give me another slate and a couple of slate pencils, I am pretty sure that in the next 30 minutes I can land that cat in hell.'

  3. b ford says:

    with all the negative news and knowing that the markets have not reached pe's , dividend yields and debt levels that are commensurate with market bottoms, i find it hard to go long, particularly after a 3 year rally

  4. Sparrows345 says:

    Unfortunately, they can keep doing this for way, wayyy longer than you think. They can also tank gold subject to countless variables, fighting the tape is a fool's game.

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