GATA

King world news is now interviewing the GATA team in relation to the gold manipulation revelations from the CFTC meeting. Check it out after the jump:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/31_GATA.html

90 Years Of History Suggests A Move Like This One Is Followed By A Market Bust

Heads up!

90 Years Of History Suggests A Move Like This One Is Followed By A Market Bust

Talking Business - Benjamin Roth’s View From Inside the Great Depression - NYTimes.com

This book is now on my reading list as Dave Rosenberg mentioned it in an article at the globe and mail today (here).

Talking Business - Benjamin Roth’s View From Inside the Great Depression - NYTimes.com

CFTC Whistleblower interview

Amazing interview, particularly around the 16 minute mark.

"If...a trader..can recognize there are 100 paper ounces of silver for every one ounce of physical metal, it's a huge naked short situation that you can squeeze by shorting the dollar and long silver, they can take and squeeze this market and blow it up. This game is now caught up."

"This is the biggest fraud in the history of the world, it's in the trillions"

Listen to the interview here:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/30_Andrew_Maguire_&_Adrian_Douglass_files/Andrew%20Maguire%203:30:2010.mp3

Update: Jesse (if you don't know him, you should definitely follow his blog here) post this yesterday on the revelations contained in this interview:

Note at night: I have now listened to this tape five times, carefully. It is a bombshell. This has to be dealt with, one way or the other. Bring it out into the light of day, and let the facts be known. This is either the equivalent of the fictionalized testimony on the order of the Salem Witch trials, or one of the most damning accusations of malfeasance in office against quasi-governmental agencies, and probably US officials, since Teapot Dome.

Giving the mainstream media the benefit of the doubt, they are afraid to touch it because it is radioactive. They will wait on the sidelines until something happens. And the strategy seems to be to stonewall, and hope it goes away. The American public is nortoriously fickle and if not reminded of it will move on to the next shiny thing, the next controversy of any type.

But the coverup is always the first mistake of a government in approaching a breaking scandal. But they never seem to learn. You deal with it up front and early. It was not the actual burglary at the Watergate that brought down the government, and took American into its 'long national agony.' It was, and always is, the coverup.

Updated Transports - and SPX March 29th, 2010

SPX resistance at this area is much easier to appreciate when looking at the long term chart.  You can see it here at the 1180 range.  MACD on the monthly still appears to have legs, as does the RSI.  WLR looks maxed out.

Well it seems as though the transports have broken below my orange and white trendlines and are resting on support of the fib fanline for now.  Again, the yellow uptrend line is key support (if it ever gets there!).

MACD crossed over, volume is waning, RSI and WLR look undecided.  Good luck!

ECU Group's Philip Manduca "We Are At A Tipping Point" And The Only Thing That May Save The Euro Is A Collapse Of The US | zero hedge

This is a fantastic interview from a macro-strategist who really gets it in my opinion. He offers some clues as to what to watch out for when the "tipping point" may be upon us. More after the jump:

ECU Group's Philip Manduca "We Are At A Tipping Point" And The Only Thing That May Save The Euro Is A Collapse Of The US | zero hedge: "ECU Group's Philip Manduca 'We Are At A Tipping Point' And The Only Thing That May Save The Euro Is A Collapse Of The US"

Mish's Global Economic Trend Analysis: California USA vs. Ontario Canada - Which State (Province) Is In Worse Shape? Canadian Banks vs. US Banks Comparison

I've long contended that the supposed "strength" of Canadian banks was a mirage enabled by the explicit debt guarantees from the CMHC. Without these guarantees, mortgage lending in Canada would not have been so reckless and robust, and growth in property values would not be so far out of whack with income growth. Mish appears to support this thesis with help from others in the following must read post.  Lot's more after the jump:

Mish's Global Economic Trend Analysis: California USA vs. Ontario Canada - Which State (Province) Is In Worse Shape? Canadian Banks vs. US Banks Comparison

Updated Transports and the TSX

This time using the daily, it's crossed over the almost vertical support line since Feb, touching on a fib fan line from the top last June. Couple of points to watch are the 61.8% Fib @ 4237 and the yellow support line which should be touched in April @ around 4250-4300.

And this is the TSX - 5yr daily.  61.8% Fib is @ 12,223, Fib fan at 12,240.  Weekly does not look quite ready to rollover, but the dailies already have. Yellow support line is key once again.

Jesse's Cafe Americain: Whistleblower Speaks Out On J. P. Morgan's Market Manipulation - Reports Violations to the CFTC in the Silver Market

In follow-up to yesterday's FYI on the CFTC metals markets hearings, Jesse had a good write up on a "whistleblower" who is speaking out on JPMs market manipulation activities. As Jesse says, I'm unconvinced anything will come of this but I'm watching just in case. More after the jump:

Jesses Cafe Americain: Whistleblower Speaks Out On J. P. Morgan's Market Manipulation - Reports Violations to the CFTC in the Silver Market

CFTC Webcast

For anyone interested in Gold, this is a significant day in the futures market as per the following:

Commodity Futures Trading Commission
Public Meeting to Examine Futures and Options Trading in the Metals Markets

CFTC Webcast

Transports

Transports showing compliance with overall market trend since beginning of February. MACD is positive, RSI and WLR not ready to roll over on the weekly, spinning top show indecision between bulls and bears, dropped below rally trendline briefly today, will see if it creeps, and closes, back above it..