An Oil Selloff (Not)Followed By A Gasoline Selloff

So much for the 60 million barrel release by the IEA and our Strategic Petroleum Reserve to help lower gas prices....just think, once those 60,000,000 barrels are consumed over the next 30ish days, those same stockpiles will have to be refilled....

The graph is of the most traded unleaded gasoline contract on the NYMEX and is quoted in cents per gallon.

Wednesday Cartoons

So Much In a Small Twitter

Friends I don't have a twitter account nor do I follow practically anything or anybody on twitter, but this came across my trading desk yesterday and it bears posting. This twitter says so so much. Mr. Bill Gross runs the largest bond firm on the planet and this tweet is huge and unexpected as to why he would chose to use this medium to sound the alarm. To be short if his words that are highlighted in red are indeed implemented by the Federal Reserve as its interest rate policy "in the name of stimulating the economy" NOTHING SHORT OF HIGH TO HYPERINFLATION WILL OCCUR. AND THIS RAVAGING INFLATION WILL OCCUR WITHIN 18 MONTHS OF THE POLICIES' IMPLEMENTATION. 

I can only hope that this will not come to pass, but sadly I see this disastrous outcome as inevitable. We must prepare accordingly. In times such as what we could very well go through nothing but faith and obedience to our Father in heaven, the LORD God will help us overcome these trials and tribulations. Remember friends when times get tough, the Lord's prayer and to live for your Father who is in heaven.

  ⁹ “This, then, is how you should pray:

   “‘Our Father in heaven, 

hallowed be your name, 

¹⁰ your kingdom come, 

your will be done, 

   on earth as it is in heaven. 

¹¹ Give us today our daily bread. 

¹² And forgive us our debts, 

   as we also have forgiven our debtors. 

¹³ And lead us not into temptation,^[a] 

   but deliver us from the evil one.^[b]’

   ¹⁴ For if you forgive men when they sin against you, your heavenly Father will also forgive you. ¹⁵ But if you do not forgive men their sins, your Father will not forgive your sins.

Matthew 6:9-15 NIV

Here is the tweet and the link to a more complete analysis. 

http://www.zerohedge.com/article/bill-gross-warning-operation-twist-coming-2-year

Mr. Gold

A must hear interview of Jim Sinclair. Jim discusses QE, the stock market, the possibility that gold could "have an up move this summer of some distinction", the loss of control by our economic authorities as they tinker with the stimulus spigot, and his long range price projections for gold. A stunning and insightful interview by a man who is legendary in the financial community, who owns his own gold mine in Africa, and who was the middle man who unwound Bunker Hunt's spectacular supernova implosion bet on cornering the silver market in 1980 at the behest of the Treasury. 

Here is the link http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/6/8_Jim_Sinclair.html
Also kingworldnews is a treasure trove of high level interviews and insight into financial planning, the sight comes out with new material almost daily. 

US Has To Create 250K Jobs A Month For 66 Months To Return To December 2007 Unemployment By End Of Obama's Second Term

A Truer Picture of Our Recovery

Citizens on the dole continues to rise and has just hit a new all time high! The average monthly benefit is $133.24 per doled citizen, which when timed by over 44,000,000 citizens comes to be a whopping amount of money. Where does the money come from to fund these food checks? ...and social security? and treasury debt interest? and health care? and Medicare? and Medicaid?? It doesn't come from tax revenue. Tax revenue doesn't cover these expenditures by half!!!! We, or more correctly the Federal Reserve prints these funds out of thin air which only further exacerbates our inflation and rising gas bills.