WakingTheBull

Source: BloomBerg
By John Detrixhe - Aug 5, 2011 9:09 PM ET
The U.S. had its AAA credit rating downgraded for the first time by Standard & Poor’s, which slammed the nation’s political process and said lawmakers failed to cut spending enough to reduce record deficits.

S&P dropped the ranking one level to AA+, after warning on July 14 that it would reduce the rating in the absence of a “credible” plan to lower deficits even if the nation’s $14.3 trillion debt limit was lifted. The U.S. was awarded the top credit ranking by New York-based S&P in 1941. It kept the outlook at “negative” amid the failure to end Bush-era tax cuts.

“The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government’s medium-term debt dynamics,” S&P said in

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- Canadian commodity hedge fund manager Eric Sprott was shifting his precious metals-focused bets during Q1 as the huge bull run for gold and silver continued.

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Libya crisis: Gold near record, silver at 31-yr high
Source: Reuters / Singapore March 07, 2011, 9:44 IST " Gold rose to near a record high and silver jumped to its highest in more than three decades on Monday on inflation worries triggered by rising oil prices as widening clashes in Libya deepened fears the country was on the brink of a civil war.

Troops loyal to Muammar Gaddafi launched counter-offensives against rebel-held towns on Sunday, increasing fears that Libya is heading for a civil war rather than the swift revolutions seen in Tunisia and Egypt, sending US crude to its strongest in more than two years.

Spot gold added $2.50 ...

Municipal Bond Shock Could Ignite Silver Charts
Posted 10 February, 2011
By: Dr. Jeffrey Lewis

Less than 45 days into 2011, it appears that this just may be the year of the paper recovery, but that doesn’t mean that lingering problems have been wiped away. At center stage now is the municipal bond market, which having grown tremendously as investors fled to safe havens in 2009, may soon find itself in a perilous situation.
The problem now is that the markets are struggling to find enough capital. Throughout the financial crisis, municipal bonds perceived to be less risky than other investments accepted cash in droves. This new investment was buoyed mostly by a large, Federal stimulus package that stood as an underwriter for new debt issuance. That is, states could issue more debt to take advantage of ultra-low financing costs before passing on the one-year expenditures to the Federal government.
Thus, first-year borrowing ...