Everbanks NEW CD! Markets over 11,000. Whats Next. Update April 13, 2010

Marc's Notes:

Markets flirting again with 11,000 and actually held it yesterday but plowed back below this morning on ALCOA’s posted revenue, then back over again this afternoon.  We mentioned ALCOA posted a profit a few weeks back and the market rallied, but the profit was due to their firing 1/3 of the work force!  Well, maybe they should fire all of their workers and post a stellar profit. At least for one quarter, then they won’t have any profit at all. So the truth comes out in their revenue figures. Not only did they miss estimates that were revised downward anyway, if you note that aluminum prices surged 57%, yet ALCOA only posted a 18 % gain, net sales were OFF much more then reported.
Sounds like they didn’t even keep up with inflation!. Meanwhile small business confidence dropped to June 2009 levels in the latest poll. Small business is AMERICA so if they are nervous, America is nervous. I think they see the health care costs about to rise. I spoke to a friend of mine that has a 20 employee business and also my Dr. about their thoughts. Both are mad as hell as the Dr. fees will drop again causing him more financial worries and insurance costs will rise on my friends business. This program was a money grab by Washington. Grab the fees now, worry about paying the costs later. You wait until this whole thing kicks in and the bill is finally tallied. I bet anyone this thing will overrun budgets, be a giant boondoggle and the worst piece of legislation since the drug prescription benefit bill that Bush signed.

Greece got a reprieve on its debt so their problems are kicked down the road like everything else.  The EU will bail them out. A 50 or so billion dollar package. Next up to the trough will be Ireland, Italy, Portugal and Spain. The other nations paying this bailout will be screaming bloody murder as more nations come forward for help. Billionaire investor and currency expert George Soros says there is a risk of a death spiral in the Euro nations and I agree. Like I said, first we had to bail out homeowners, then companies, then the entire banking system, now an entire country. Sounds like the disease is spreading, not going away. The last in line of bailouts will be the IMF, which is in essence the “paper currency system” itself. We are seeing a slow motion train wreck of the entire fraudulent paper currency system. When the paper currency system implodes, there will be no bailouts. Only scrambling to rescue a system that blows itself apart. Then you will see usurped rights, outright confiscation of private funds (your funds probably) and the world will change as we know it. I anticipate a reversion to some sort of new currency together with a metals backed currency. That is years away however so we move according to what we see now.

Pensions across the country are in deep trouble and have massive shortfalls. A report out today showed a trillion dollar shortfall in public pensions. Years ago we did a show on the pension bailout that is coming. My pension won’t be helped but if you have a pension with a “pack” of folks, you probably will be. Remember, if you fail, make sure you fail in packs.

This Thursdays Show is on foreign currencies. Just in time considering the Greece bailout. I will cover how they work. (It is fairly easy to comprehend). I will talk about they relate to each other and how the Euro got to where it is today. That in itself in an interesting story.

I have been saying EVERBANK will come out with a new product: a no risk product, similar to the currency CD I bought and many of you did also. Wha la!
I just heard today they will be announcing this new CD soon. I will review it and then describe it in the newsletter. Those waiting as instructed during our consults, listen up! This is probably the CD I will recommend. Let me see the terms and I will let you know. It will be based on Gold and Silver and Palladium probably. This is ok and functions as a foreign currency in a way. Stay tuned! Details soon.

Holdings: no change. Add TBT when it hits 45. Natural Gas steady. US dollar steady. Oil steady. Gold and silver- slowly rising a tad.

Money Matters T Shirts will be available on the site soon. Keep checking! Sold at about 12.00 each, they are really cool!

Money Matters website now has hits from all over the world, from China to Russia to Switzerland, India, Poland, Ukraine, Brazil, The Netherlands, Chec Republic, Greece, Taiwan, Morocco, Maldiva:  you name, they hit it!  Wow. We reach out!

All for now,
Marc