IEHI Feed: The Hedge Fund Implode-o-Meter Tracking the many faces of the global credit implosion. en-us iehi-feed-55495 Thu, 20 Nov 2014 21:10:50 GMT Gold Demand Explodes 'Round The World (ROUNDUP) Here is a round-up of stories from the last few days showing (in contrary to a few curious news stories) demand for physical gold exploding around the world in response to unusually low prices.

  • Eric Sprott: Global Gold Demand Is Overwhelming Supply -
    We see almost 60 tons a week being delivered on the Shanghai Gold Exchange. Well, you start annualizing 60 tons a week you're talking 3,000 tons a year now. We saw 94 tons of gold go into India in September. We saw the Russian Central Bank buy 37 tons of gold in September. I mean I could come up with numbers that might suggest that we've got 400 tons a week of demand. And we only got 230 tons a week of mine supply. And I've only gotten to three data points. I haven't even gone to the rest of the world.
  • Who's Feeding China's Gold Hunger? -
    This year the Chinese have started to import more gold directly into the mainland, circumventing Hong Kong. Unfortunately China itself doesn't publish gold trade data -- as they prefer to keep the world uninformed about their gold hunger not to influence the price. China openly changed import policy in April (from 1:14):
  • India Precious Metals Import Explodes In October -
    Despite all efforts from the Indian government to curtail India's demand for precious metals -- for example a 10 % import duty on both gold and silver, the Indian people continue to put their savings in a store of value they consider being prudent; precious metals.
  • Low UAE gold prices set off buying surge -
    ... the ongoing softness in global gold prices are prompting more shoppers to snap up more of the metal in its various forms. According to estimates from the local jewellery trade, retail offtake for the full year in the UAE could be up by 15-20 per cent in volume terms (in kilograms) compared with 2013. If only the second half of the year is taken into account, which was when prices started to show real weakness, volume gains could even be in the 40 per cent range.
  • `Gold Wars' - Swiss Gold Shenanigans Intensify Prior To November 30 Vote -
    The Swiss National Bank (SNB) and establishment parties went "all in" during the week and intensified their campaign. They suggested that passing the Swiss Gold Initiative would be a `fatal' for Switzerland and would be positive only for speculators.
iehi-feed-55494 Thu, 20 Nov 2014 21:01:51 GMT New York Fed, Goldman in Criminal Investigation for Sharing Confidential Information (AND NY TIMES RUNS COVER) iehi-feed-55493 Thu, 20 Nov 2014 20:45:30 GMT Treasury: Global Investors Pour Record Amount into US (HAVING BEEN SCARED AWAY FROM GOLD) iehi-feed-55490 Thu, 20 Nov 2014 20:17:21 GMT Gold Rises After 'Unusual' Russian Central Bank Gold Buying Announcement iehi-feed-55489 Thu, 20 Nov 2014 14:26:55 GMT Senate Report Finds Goldman and JPMorgan Can Influence Commodities iehi-feed-55488 Thu, 20 Nov 2014 14:24:40 GMT Jail threat is biggest deterrent for bad bankers, says Bank of England official iehi-feed-55483 Wed, 19 Nov 2014 22:40:17 GMT Hussman: "These Go to Eleven" (The "Spinal Tap Market") iehi-feed-55482 Wed, 19 Nov 2014 22:35:42 GMT SEC approves rules on stock exchange technology The Commission voted to adopt rules on Regulation Systems Compliance and Integrity, which requires self-regulatory organizations, securities exchanges, registered clearing agencies and significant alternative trading systems, to establish policies and procedures to help ensure that systems have capacity, integrity and resiliency.... During the meeting, Commissioners highlighted the need for these regulations in light of numerous technical glitches that have occurred in recent years, including the 2010 flash crash, the 2012 glitch from Knight Capital that led to a $461 million loss and the 2013 shutdown of the Nasdaq tape.


Fellow Democratic Commissioner Kara Stein also stated concern about leaving out broker dealers and many alternative trading centers that trade equities and fixed income securities.

"I am disappointed in this missed opportunity because so many important trading centers are left out," Stein said, adding the regulation ignored intraday proprietary trading firms.

iehi-feed-55481 Wed, 19 Nov 2014 22:28:48 GMT Fed sees solid U.S. economy, new threats (+STICKS TO ZIRP) Minutes of the Fed's Oct. 28-29 meeting released on Thursday showed that Fed officials grappled with a number of developments, from sharp moves in U.S. stock prices to increased signs of weakness in such key regions as Europe and Asia. They also expressed concern that inflation, which has been running below the Fed's target of 2 percent, could drift lower because of falling energy prices and a strengthening U.S. dollar.


The Fed decided to keep the "considerable time" wording because officials worried that its removal could be misinterpreted and cause markets to drive interest rates higher and harm the recovery.

Private economists do not expect the Fed to begin raising interest rates until mid-2015 and nothing revealed by the discussion in the minutes was likely to alter their view.''

iehi-feed-55475 Wed, 19 Nov 2014 16:16:43 GMT Japan Goes Full Helicopter-Ben: Prints "Free Gift-Cards" To Spark Consumption iehi-feed-55472 Tue, 18 Nov 2014 21:53:36 GMT Forbes: Gross Approached Gundlach for a Job; Was Turned Down iehi-feed-55470 Tue, 18 Nov 2014 20:37:30 GMT Brussels Arraigns HSBC on Alleged Tax Fraud, Money Laundering iehi-feed-55469 Tue, 18 Nov 2014 20:36:10 GMT Sydney Yuan Hub Seen Saving Importers 7%, Bypassing Dollar iehi-feed-55467 Tue, 18 Nov 2014 20:32:59 GMT China Bad Loans Jump Most Since 2005 as Economy Cools iehi-feed-55465 Tue, 18 Nov 2014 16:36:31 GMT ECB could buy gold to revive economy iehi-feed-55462 Tue, 18 Nov 2014 16:28:59 GMT Russian Blue Chips Might Dump London En Masse, Re-list in Hong Kong iehi-feed-55461 Tue, 18 Nov 2014 16:28:20 GMT Volcker: Modern Central Banking is Bunk iehi-feed-55460 Tue, 18 Nov 2014 16:07:55 GMT David Stockman: The Bubble Is Global And Its Already Popping (VIDEO) iehi-feed-55459 Tue, 18 Nov 2014 16:06:19 GMT Japan Is Dying And We Still Don't Get It?! iehi-feed-55456 Tue, 18 Nov 2014 00:15:39 GMT Charts: Greece lightening as Euro Area Darkens (IRONY)