Thursday, February 20, 2014

Silver Posts Longest Rally in 45 Years as Global Investor Demand Explodes


SILVER SURGES ON RECORD DEMAND

Silver Posts Longest Rally in 45 Years as Global Investor Demand Explodes

Silver Posts Longest Rally in 45 Years as Global Investor Demand Explodes

— 7 Facts About Silver Prices —
After rising in price for 12 straight days, silver has posted its longest rally in at least 45 years as global demand for an investment alternative grows amid concerns that the global economy is heading for a fall.
Since 1913, silver has increased 3.78% compounded annually. Since 1971, silver has increased 7.00% compounded annually. Since 2001, silver has increased 15.17% compounded annually.
So far in 2014, silver prices have surged by 13%.
Silver premiums are increasing as demand soars.
Trading volume has more than doubled versus the average in the past 100 days.
The U.S. Mint sold 42,675,000 American Eagle Silver Bullion coins in 2013, which is 26% more than the 33,700,000 coins sold in 2012. This is a new single year record for the most purchased since the U.S. Mint began producing the one-ounce silver coin in 1986. And so far, 2014 is starting off with a “bang” with sales of silver coins by the U.S. Mint almost quadrupling in January to 4.78 million ounces from December.
And it’s not just the U.S. Mint. Mints around the globe are reporting sharp increases in investor demand. Sales of the Austrian Silver Philharmonic increased 62% in 2013. The Canadian Silver Maple Leaf saw a 60% increase, and sales of the Perth Mint’s Silver Kookaburra bullion coin rose by 41% last year.

World Economy : More Families Struggle With Higher Food Prices


SOURCE: http://cbsnews.com

Mortgage Applications Plunge Further - Near 19 Year Lows

The past 5 weeks have seen mortgage applications crumble a further 16% - their biggest such drop in 14 months as the index for home purchase applications hovers close to its lowest level since 1995. Non-seasonally-adjusted, this is the worst start to a year in over a decade. Must be the weather?

Mortgage Applications drop close to 19 year lows...


Worst start to a year for at least a decade


Chart: Bloomberg

Sebelius faces scrutiny for serious potential ethics violations at HHS

Health and Human Services Secretary Kathleen Sebelius and other staffers may be inappropriately raising funds to promote Obamacare as enrollment woes continue.  Troubling questions and Freedom of Information Act requests by the Washington Examiner seem to be fraying nerves in certain quarters of the Obama administration.
Republicans on Capitol Hill were outraged to learn in May that Sebelius was asking high-powered CEOs to “donate” to Enroll America, a nonprofit organization created by Obama loyalists and designed to encourage Americans to sign up for the Affordable Care Act, according to an exclusive report by the Examiner.
Now, eight months later, a Sebelius spokesperson is evading questions about whether the potentially unethical practice has continued.
“The secretary has engaged in a sustained, aggressive outreach campaign to reach as many Americans as possible during open enrollment,” agency spokeswoman Joanne Peters wrote in an email to the Washington Examiner. “We’re [sic] have been working closely with a range of partners groups across the country to reach the uninsured.”
Emails reveal an intimate working relationship between the White House Office of Pubic Engagement and Enroll America President Anne Filipic – a former Obama aide. Of the 448 pages of emails and documents turned over in the Freedom of Information Act request, 257 were redacted and released to the Examiner, and another 179 were still under review.
The close relationships included these examples, according to the Examiner exclusive:
  • H&R Block donated $500,000 to Enroll America. The prominent tax services provider stands to make a mint advising clients on Obamacare subsidies and/or penalties.
  • The Robert Wood Johnson Foundation contributed $14 million to Enroll America. Although it supports anti-obesity and other health campaigns, the foundation also owns $1 billion in stock in Johnson & Johnson, whose drugs are regulated by the Food and Drug Administration under Health and Human Services auspices.
  • Kaiser Permanente, no small player in the health care pantheon, has representatives on the Enroll America board.
  • Enroll America has also raised $27 million from the Ford Foundation, the California Endowment, Kate B. Reynolds Charitable Trust and others.
 U.S. Sen. Lamar Alexander, R-Tenn., the ranking member of the Senate Health Oversight Committee, said Sebelius’ solicitations are illegal because Congress denied funds to implement Obamacare and her behavior parrots Iran-Contra fundraising. He has asked the Government Accountability Office and the Health and Human Services inspector general to look into the extent of the agency’s relationship with Enroll America.
Watchdog groups agree that serious ethical questions have been raised, although they are not sure if Sebelius has crossed the legal line.
Update: 2/19 – 5:38pm
In an email to BizPac Review, H&R Block Corporate Communications Director Gene King said the tax services provider has not contributed any money to Enroll America. King did not comment on the emails obtained by the Examiner.

WARNING! U.S. Hyperinflation to Collapse Economy


Rick Santelli: U.S. Facing 'Chronic' Labor Participation Problem


Karl Denninger: Market Meltdown – Triggering Event from Europe, But Think it Will Be Asia


http://usawatchdog.com/karl-denninger… - On continued Fed tapering of $65 billion a month to prop up the economy, Karl Denninger of Market-Ticker.org says, “They have to stop . . . people in the Senate know this and if they stand up and say it, the government has to stop borrowing all this money that we don’t have. The Federal Reserve must stop financing the government deficit because it is destroying capital formation and it is destroying savings. . . If anyone stands up and nails Janet Yellen with that, the market goes down 700 points in 5 minutes. . . . A piano is going to fall on the head of the economy. The problem with bubbles is they always find pins.” Join Greg Hunter of USAWatchdog.com as he goes One-on-One with financial writer and stock trader Karl Denninger.