News Bits…

People worry about China’s reserves, but how about Japan? The Japanese now hold over $650 billion of U.S. Treasury notes in reserve. In a speech Wantabe said that he doesn’t see the Carry Trade affecting the Japanese economy. No kidding! It will affect the dollars that have been bought with Yen, while the Yen by contrast will soar.

Central Banks are finally back on speaking terms with the BIS. Well with over $400 trillion in derivative speculation, for contracts that many people who call themselves investors think they understand, I would hope so.

Bonds are getting tricky. With Repos now a prime and standard in the speculating community it seems that its about time the governments get involved. May explain recent volatility.

In the Silver Market the “Major Shorts” (4 or less largest traders which Ted Butler has decided to label the T. Rex’s) continue to increase their inevitably reckoning position of short contracts to 50,000 representative of 250 million ounces (also known as $3.3 billion on the open market of silver that is not known to exist above ground).

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