Jim

Who is Mysterious Belgium Buyer of U.S. Debt: Jim Rickards and Peter Schiff’s take

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Jim Rickards says that the ECB could be buying the U.S. debt via Belgium with money from the U.S. Federal Reserve. The Federal Reserve would print U.S. dollars, gives them to the ECB, that goes through Euroclear and they buy the U.S. treasuries anonymously on the books of Belgium. Watch this extremely interesting video below.

Also Peter Schiff suspects, via his radio show, that it’s the ECB buying U.S. debt via Belgium. He doesn’t suspect it’s the Federal Reserve itself, because that would destroy their credibility of tapering QE.

What is clear is that this is not likely the government of Belgium, or private Belgian capital, that is doing the buying. The numbers are just too large. This is particularly true in the First Quarter of 2014 when the buying averaged a stunning $41.5 billion per month (January was the biggest month with $54 billion). In all likelihood, the only European buyer with a wallet that big would be the European Central Bank (ECB) itself.

Jim Rickards Exposes Goldman Sachs’ Call for $1000/ounce gold

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The latest Peter Schiff Show with guest Jim Rickards was a nice one. In this interview Jim Rickards says that some insiders at Goldman Sachs’ are actually bullish on gold. They are actually disagreeing with their own research where they are calling for gold to go to $1000/ounce.

Jim Sinclair interview with Greg Hunter

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Very interesting interview between Greg Hunter and Jim Sinclair, a must watch.

The base case of gold going up is because of a loss of confidence in the U.S. dollar. This loss in confidence will accelerate when business conditions worsen. Let me just give 3 recent examples of worsening conditions.

1) ADP unemployment numbers signal that the unemployment rate is going up. With just 130000 jobs added the latest month we cannot keep pace with the growing population, which expands at around 170000 a month. So you can be sure that the unemployment picture is going to deteriorate.

2) The pending home sales have been worsening for the fourth consecutive month, due to higher mortgage rates. Not a great investing environment for the real estate market, right?

3) The durable goods orders posted a big decline the latest month (if Boeing’s one time sales is taken out of the picture), how can stocks keep going up at this pace?

Adecoagro (AGRO): Agriculture in South America

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At the beginning of 2012 agriculture prices are starting to turn around after the big correction that occured in 2011 (Chart 1). Speculators have started to add net long positions in agriculture due to drought concerns in South America.

Chart 1: Rogers Agriculture ETN (RJA)
A great play on agriculture is Adecoagro (AGRO), to find out, go to: Seekingalpha