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November 19, 2010
Black Friday's dirty little secrets
Because of surging gold commodity prices, jewelry manufacturers are paying much more for the precious metal than last year. So one way that jewelers are keeping their own costs, and retail prices down reasonable for consumers, is by selling more gold-plated or gold-filled jewelry.
Many advertised deals on gold jewelry will use phrased such as "gold-filled" or "gold-overlay." This is not the same as solid gold, said Kevin Adkins, a graduate gemologist.
"When you see those terms, know that you're buying silver with a plate of gold coating over it," said Adkins.
Is it any wonder silver has been doing much better than gold over the last three months? Score one for the silver bugs. In my opinion, silver isn't cheap at these prices. However, at least it doesn't cost $20,000 per pound.
November 19, 2010
Rep. Brad Miller: “Protecting bank solvency has been a goal of Treasury that I do not share”
The belief here is that the servicer is intentionally avoiding any modifications on those loans so their parent company doesn’t have to write down the second lien.
Gold-plated.
We have to make sure the systemic risks are not concealed from us.
Gold-plated.
I can’t imagine how they could do a stress test without looking at all the potential liabilities.
Gold-plated.
There is no possibility of another bailout. Not any possibility Congress will come riding to the rescue. Even if the alternative is an economic cataclysm. This may ultimately give us the opportunity to see how resolution authority works.
Update:
measuring layer thickness on gold plated surfaces
"gold plate" = 20 microinches
A microinch is one millionth of an inch. Gold plate is therefore 1/50,000th of an inch. I bet we could gold-plate our entire economy with that, lol. Sigh.
ICE: Mortgage Delinquency Rate Increased Year-over-year in October
-
From ICE: ICE First Look at Mortgage Performance: Serious delinquencies hit
17-month high while foreclosure activity remains historically muted
• At 3.45% ...
2 hours ago
5 comments:
I can’t imagine how they could do a stress test without looking at all the potential liabilities.
I'll take the other side of that statement. Potential liabilities? Get serious. They changed the accounting rules so they wouldn't even have to look at the actual liabilities.
It's all a big sham. I just don't see how lies and obfuscation add stability. To me, they further destabilize the system.
Oh yeah, lets sure up "faith" in our faith based system with yet more lies and propaganda. Good grief.
mab,
Speaking of propaganda, I just heard on CNBC that we've been bouncing around the 1200 level on the S&P 500 for the last week or so.
Try TWELVE years!! 1998 was the year we first saw 1200.
In other news, I saw a Wal-Mart shopper get an amazing discount today. The alarm sounded just as we both were leaving. He opted to run! In the distance behind him was heard, "Stop! I need to see your receipt!"
No joke! And they say optimism is dead? I'd sooner bet on Bernanke to rescue this economy than bet on that guy to stop, lol. Call me cynical!
It's snowing today in Seattle, which means those who never see snow get to test out their driving skills. Stress test FAIL. I drove past two accidents within 100 yards of each other on the hill near my house. Deep snow? Nope. Black ice? Nope. Wet road with hints of slush? Bingo!
It is expected to freeze over tonight. Tuesday may be the main event.
I would say the economy is a gold plated tungsten bar, but you know me!
GYSC,
Tungsten
In World War II, tungsten played a significant role in background political dealings.
Behold the power of tungsten! ;)
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