Wednesday 29 June 2011

The unwavering value of precious metals

The unwavering value of precious metals

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

New growth frontier for Islamic finance

New growth frontier for Islamic finance

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

Adapt and thrive

Adapt and thrive

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

TRADING IS SIMPLE. IT’S JUST NOT EASY.

How could two phrases sound so similar, but yet be so different?

I think we need to look differences between the context of each phrase.

When I describe the idea of trading being simple, what I really mean is that itshould be effortless. The word effortless is defined by Merriam-Webster Dictionary as:

showing or requiring little or no effort <effortlesspower>

I believe that good traders are able to trade the markets effortlessly – it’s simple to them. But getting to the point of doing anything effortlessly is noteasy. In fact, it’s really hard. A good analogy would be describing an athletes ability to perform his or her skill. If we took two people – one being a person who runs two miles everyday versus a person who hasn’t ran for the past two months, who will have the easier time running one mile? The answer is simple of course. The person who runs everyday will be able to run one mile easily – it will be effortless to them. However, the person who hasn’t ran in two months will find it extremely hard to and likely have to take breaks in-between so that he or she can finish.

http://www.ratiotrading.com/2011/06/trading-is-simple-its-just-not-easy/

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

GOLD, ES AND TRADING PODCAST - Video 28 Jun

GOLD, ES AND TRADING PODCAST

Tuesday, June 28th, 2011

http://www.ratiotrading.com/2011/06/gold-es-and-trading-podcast/

Trading systems with success with Market Wizards wisdom

Feb 10, 2009

Why do traders fail? Why are over 90% of traders unsuccessful with their trading systems, and eventually blow out their account? The answer lies in a simple indicator....trader growth. Are you growing in excellence with 1 system or methodology, or are you bouncing from system to system in an endless search to avoid the deeper issues within yourself that hold you back and blow out your account?
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The Asylum: The Renegades Who Hijacked the World's Oil Market -Books

Book Review: The Asylum: The Renegades Who Hijacked the World's Oil Market

Hookers, Cristal, and the rise and fall of the New York Mercantile Exchange

By Bryant Urstadt

The Good: A riveting tale of greed gone mad. Goodman nails the culture.

The Bad: Sometimes it's possible to spend too much time in a boardroom.

The Bottom Line: A great ride for market fans but may be heavy for the casual reader.

The Asylum:
The Renegades Who Hijacked
the World's Oil Market
By Leah McGrath Goodman
Morrow, 398pp, $27.99

Anyone who accuses New York Mercantile Exchange (CME) traders of being greedy and lawless anarchists who blow up markets obviously was not working the floor in 1978. In that year a sign at the entrance decreed: Please check your guns at the desk. "A gunshot never went off on the floor," claims John Tafaro, a trader at the time. "That's where we drew the line." He says traders were pretty dutiful about checking their guns, too.

The rest of the rules, though, they ignored, skirted, or subverted, sometimes with brazen crudity, sometimes through deft manipulation of the law—at least according to Leah McGrath Goodman'sThe Asylum: The Renegades Who Hijacked the World's Oil Market. "Any customer who traded there was molested, if not raped," says one ex-regulator with the U.S. Commodity Futures Trading Commission, speaking metaphorically, one hopes. "As far as we could see, the NYMEX traders did nothing but run scams."

They weren't always oil traders. They only stumbled upon oil futures after screwing up Maine potato futures. A whole industry had been built around predicting the Maine potato harvest, and—more importantly—trying to manipulate it. However, the market was closed by regulators in 1976, after defaults on deliveries of more than 50 million pounds of potatoes.

Casting about for something else to trade, then-Chairman Michel Marks tried to boost futures in boneless beef and plywood. After that didn't work, in 1978, he introduced heating oil futures. The market proved a gusher that led to 30 years of good times. Booming with the oil scares of the late '70s and early '80s, heating oil futures begat natural gas futures and became a huge market revolving around the price of West Texas Intermediate Crude, now the benchmark for a barrel of oil.

http://www.businessweek.com/magazine/content/11_09/b4217086779050.htm

By Leah McGrath Goodman

The Asylum is a stunning exposé by a seasoned Wall Street journalist that once and for all reveals the truth behind America's oil addiction in all its unscripted and dysfunctional glory.

In the tradition of Too Big to Fail and Liar's Poker, author Leah McGrath Goodman tells the amazing-but-true story of a band of struggling, hardscrabble traders who, after enduring decades of scorn from New York's stuffy financial establishment, overcame more than a century of failure, infighting, and brinksmanship to build the world's reigning oil empire - entirely by accident.

They were a band of outsiders unable to get jobs with New York's gilded financial establishment. They would go on to corner the world's multitrillion-dollar oil market, reaping unimaginable riches while bringing the economy to its knees.

Meet the self-anointed kings of the New York Mercantile Exchange. In some ways, they are everything you would expect them to be: a secretive, members-only club of men and women who live lavish lifestyles; cavort with politicians, strippers, and celebrities; and blissfully jacked up oil prices to nearly $150 a barrel while profiting off the misery of the working class. In other ways, they are nothing you can imagine: many come from working-class families themselves. The progeny of Jewish, Irish, and Italian immigrants who escaped war-torn Europe, they take pride in flagrantly spurning Wall Street.

Under the thumb of an all-powerful international oil cartel, the energy market had long eluded the grasp of America's hungry capitalists. Neither the oil royalty of Houston nor the titans of Wall Street had ever succeeded in fully wresting away control. But facing extinction, the rough-and-tumble traders of Nymex - led by the reluctant son of a produce merchant - went after this Goliath and won, creating the world's first free oil market and minting billions in the process. Their stunning journey from poverty to prosperity belies the brutal and violent history that is their legacy.

For the first time, The Asylum unmasks the oil market's self-described "inmates" in all their unscripted and dysfunctional glory: the happily married father from Long Island whose lust for money and power was exceeded only by his taste for cruel pranks; the Italian kung fu-fighting gasoline trader whose ferocity in the trading pits earned him countless millions; the cheerful Nazi hunter who traded quietly by day and ambushed Nazi sympathizers by night; and the Irish-born femme fatale who outsmarted all but one of the exchange's chairmen - the Hungarian emigre who, try as he might, could do nothing to rein in the oil market's unruly inhabitants.

From the treacherous boardroom schemes to the hookers and blow of the trading pits; from the repeat terrorist attacks and FBI stings to the grand alliances and outrageous fortunes that brought the global economy to the brink, The Asylum ventures deep into the belly of the beast, revealing how raw ambition and the endless quest for wealth can change the very nature of both man and market.

Showcasing seven years of research and hundreds of hours of interviews, Leah McGrath Goodman reveals what really happened behind the scenes as oil prices topped out and what choice the traders ultimately made when forced to choose between their longtime brotherhood and their precious oil monopoly.

About the Author

An award-winning journalist, Leah McGrath Goodman has written for Forbes, the Wall Street Journal, Barron's,the Financial Times, and the Guardian in New York and London. She currently resides in Boulder, where she is a Ted Scripps fellow at the University of Colorado.

Published by Harper Collins

Buy 'The Asylum: The Renegades Who Hijacked the World's Oil Market'

http://news.hereisthecity.com/2011/02/20/the_asylum_the_renegades_who_h/

Mineweb.com - Gold edges up, dollar "looks strong" despite debt deadlock, Eurozone problems "will deepen" - FAST NEWS | Mineweb

Mineweb.com - The world's premier mining and mining investment website Gold edges up, dollar "looks strong" despite debt deadlock, Eurozone problems "will deepen" - FAST NEWS | Mineweb

All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.

The Keiser Report 159

Jun 28, 2011

This week, Max Keiser and co-host Stacy Herbert report on scrapyards being the new pawn shops, Chinese ground troops marching on D.C. and the real British bank exposure to bad Greek debt. In the second half of the show, Max talks to Leah McGrath Goodman about her new book: The Asylum: The Renegades Who Hijacked the World's Oil Market.

Mineweb.com - Gold and silver markets to enter high risk area with heightened volatility - WHATS NEW | Mineweb

Mineweb.com - The world's premier mining and mining investment website Gold and silver markets to enter high risk area with heightened volatility - WHATS NEW | Mineweb

Today's market analysis from Benoni sees much depending on which way the Greek Parliamentary vote goes tomorrow with the odds perhaps tilting towards rejection of ECB/IMF proposed austerity package.

Author: Julian Phillips
Posted: Tuesday , 28 Jun 2011

BENONI -

Asia pulled the gold price up back to $1,499, with the euro holding above €1: $1.42 level throughout London's morning. At the morning Fix in London it was lifted higher to Fix at $1,502.50. Thereafter, it slipped slightly to hold around $1.501.85 until New York opened. In the euro it was Fixed lower at €1,052.32. These movements are not significant and should be seen as part of the consolidation phase, awaiting clear direction.

Gold Prices in different currencies which highlight currency moves:

Swiss Franc - Today: Sf1,250.37: 1 ounce of gold. Friday: Sf1,250.48: 1 ounce of gold.

U.S. $ - Today: $1,501.05: 1 ounce of gold. Friday: $1,496.00: 1 ounce of gold.

Euro - Today: €1,048.70: 1 ounce of gold. Friday: €1,055.80: 1 ounce of gold.

India -Today: Rs. 67,635.67: 1 ounce of gold. Friday: Rs.67,420.33: 1 ounce of gold.

http://www.mineweb.com/mineweb/view/mineweb/en/page31?oid=130323&sn=Detail&pid=31

Mineweb.com - Surge in gold and silver ownership worldwide as doomsday nears - POLITICAL ECONOMY | Mineweb

Mineweb.com - The world's premier mining and mining investment website Surge in gold and silver ownership worldwide as doomsday nears - POLITICAL ECONOMY | Mineweb

The doomsday scenario resulting from multiple national defaults is horrific to contemplate and more and more people are at last beginning to climb into gold and silver as protection .

Author: Lawrence Williams
Posted: Thursday , 23 Jun 2011 LONDON -

As the implications of the global financial crisis are at long last beginning to filter through to the general public, the move to dump cash and other savings forms in favour of gold and silver - notably in the easily accessible and sellable coin form is now really beginning to gather momentum and is becoming a major driver of the precious metals markets.

We have long known that the rising, and rapidly expanding, middle classes in Asia have an almost inbuilt propensity to keep a significant proportion of their savings in gold while the less costly silver is now beginning to come into the equation. This has been emphasised recently with the news that the people's Bank of China has already had to virtually more than double its minting of its gold and silver Panda series of coins, despite the previous quota for this year itself already being double last year's with the populace buying gold and silver as a hedge against the onset of inflation there.

http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=129983&sn=Detail

110628 - Hyper Report

HyperReport on Jun 28, 2011

Hyper Report is sponsored by FutureMoneyTrends.com (http://futuremoneytrends.com/ )

Source Links for Today's Items:

Greek Mess may Cause Second Global Financial Crisis
http://www.news.com.au/money/david-and-libby-koch/its-a-big-fat-greek-mess/st...

Enter the Dragon 'to Save the Euro'
http://www.telegraph.co.uk/finance/china-business/8598998/Enter-the-dragon-to...

U.S. Horrific National Debt, Are You Prepared For The Coming Economic Collapse And The Next Great Depression?
http://www.marketoracle.co.uk/Article28842.html

Collapse Barter Items And Trade Skills
http://alt-market.com/articles/146-top-post-collapse-barter-items-and-trade-s...

Surge In Gold And Silver Ownership Worldwide As Doomsday Nears
http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=129983&sn=De...

Silver Mythbusters #1 - 100:1 Paper backing Physical
http://www.youtube.com/watch?v=SjhEYPe4QVE

The content contained in the Hyper Report is provided for informational purposes only. Use the information found in these videos as a starting point for conducting your own research and before making any significant investing decisions. All stories are sourced and assumes all information to be truthful and reliable; however, I cannot and do not warrant or guarantee the accuracy of this information.

This video is protected by the Fair use Act-Title 17 Chapter 1, Article 107 pertaining to the use of copyrighted works to illustrate an opinion, or for educational purposes...

Thank you.

MinKL Invest

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