Solari Report: August 11, 2011

"Just when you think there is nothing left to squeeze out of the economy, Mr. Global comes up with another squeeze play."

~ Catherine Austin Fitts

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This week on the Solari Report, it's the Precious Metals Market Report: Mr. Global's Squeeze Play. Franklin Sanders and I clearly have lots to talk about. First and foremost, the meaning of the S&P downgrade and the impact on markets, particularly precious metals. We will revisit our annual forecasts, both for prices as well as probabilities for core scenarios, particularly Slow Burn vs. 2008 Redux. We will also connect some dots, touching on two recent blog posts: My response to Federal Budget 101 and Unanswered Questions About Rawesome Foods.

In the context of where the precious metals markets could go this year, we will also be talking about some of the institutional issues that have slowed down a repositioning of major assets, particularly the Prudent Man Rule – and what S&P’s decision could do to bring about a rethinking of the Rule and what that could mean to the markets and you, including your pension funds.

The iPhone app for the Silver and Gold Payment Calculator will launch shortly. Franklin and I will brief you on how to use the calculator — whether on desktop or handheld device. Given where gold is headed, the notion of using gold and silver as currency is not as far fetched as it seemed when we first launched the calculator. To do so, you will need easy access to what the app will provide for merchants and busy people – a calculator and a list of silver and gold coins priced at melt value.

More at the blog.

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Catherine’s Blog
S&P Downgrades USA to AA+

Standard & Poor’s downgraded the U.S.’s AAA credit rating for the first time, slamming the nation’s political process and criticizing lawmakers for failing to cut spending enough to reduce record budget deficits. S&P lowered the U.S. one level to AA+ while keeping the outlook at "negative" as it becomes less confident Congress will end Bush-era tax cuts or tackle entitlements. The rating may be cut to AA within two years if spending reductions are lower than agreed to, interest rates rise or “new fiscal pressures” result in higher general government debt, the New York-based firm said yesterday. ... Housing Subsidies Make Huge Tax Target

The fragile housing market may attract the attention of the Congressional committee charged with finding ways to cut the growing U.S. deficit. The Joint Select Committee on Deficit Reduction won’t be able to put much of a dent in the deficit by going after housing subsidies, but the subsidies are nonetheless. The bipartisan, bicameral committee of 12 was created by the deficit reduction plan passed by Congress and signed by President Obama this week. ...

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