by John Galt May 9, 2012 19:45 ET The latest from Ambrose Evans-Pritchard in tonight’s U.K. Telegraph highlights the sense of panic the European credit markets are reflecting behind the scenes: Spain nationalises Bankia as euro crisis escalates How bad is it? Amborse hits the high point in this one portion of the story: “The Spanish have denied until now that there was any need for fresh capital so it comes as a surprise. It wasn’t intended, and that is a worry,” said Guy Mandy, credit strategist at Nomura….
by John Galt May 9, 2012 19:00 ET If one is led to believe the usual nonsense on the Bubblevisions, gold, silver, and anything that is considered “real money” will be smoked in the weeks to come. For once, this esteemed, or full of steamed clams, blogger agrees. The markets are indicating the following for long term paper silver bulls (I emphasize PAPER SILVER BULLS) 1. Severe correction. 2. Deliberate price suppression for industrial purposes. 3. A move to prevent a delivery crisis from various…
by John Galt May 9, 2012 18:25 ET From Reuters: Equity funds lose most since start of year -ICI How bad was it? From the article: Oops. So much for the CNBC propaganda.