Oil at $1,170 should translate to about $50/gallon at the pump. Then again gold, oil, all the same to CNBC – just buy, buy, buy. In other news, bonuses set to top one quadrillion at Goldman Sachs’ oil propaganda desk. h/t deadhead-Zero Hedge

Vince Veneziani of Business Insider This Sunday was reported to have been the deadline for Bank of America (BAC) to find a new CEO. Officially, their goal was to get it done this week, but it appears that’s not going to happen. Bloomberg: The directors, who met Nov. 20, may be willing to go past their Nov. 26 target and the Dec. 31 retirement...

Jesse’s Cafe’ Americain The increase in the monetary base created by the Fed’s monetization of debt is striking, not seen since the early stages of the Great Depression. Banks are not lending despite the massive quantitative easing. They are fat with reserves, paying huge bonuses again, and obviously doing something with their money...

Zero Hedge Early spot gold action indicates something is afoot in the gold market. Hitting an absolute record of $1,164 mere minutes ago, the momentum chasing algo funds are now in the picture, set to do to gold what they have been doing to the S&P futures and the SPY day after day for months now: if little volume will cause a move, look for the...

The Mess That Greenspan Made Jim Summers, an organizer for End the Fed, files this report in the Nashua Telegraph about, among other things, the symbiotic relationship between Congress and the Federal Reserve. The effects of our financial house-of-cards collapsing are everywhere: home foreclosures, unemployment, stock values cut in half, retirement...

Joe Weisenthal of Business Insider The New York Times — not usually the first publication you’d think of when it comes to calling for fiscal prudence — sounds the alarm over the government’s massive debt load. The premise is that, although we’re fine now, borrowing money cheaply, we’ve got a huge refi coming up,...

CalculatedRisk Kenneth Harney at the SF Chronicle lists a few possible changes: FHA looking for ways to pump up its reserves. Harney lists four possible changes: Higher down payments. The current downpayment requirement is 3.5%, and Harney mentions proposals for an increase to 5% or more. This will probably not be changed. Higher mortgage insurance...

Since the market crash in late 2008 we have seen investors favor quality stocks that pay dividends and have steady earnings. Fast growth companies and equities with physical resources like commodities have also done well. Let’s examine the monthly charts of gold, silver, oil and natural gas – and observe how they have traded in comparison to their...

We’ve highlighted before why recent negative treasury bill yields aren’t sustainable, aren’t reason to panic, and are just due to end of the year window dressing by financial companies. The excellent fixed income blog Across the Curve takes it further, highlighting commentary from CRT Research that basically supports this view. They...

AC Investor ( click to enlarge ) NANO is a very volatile stock, but can be a very lucrative one if traded correctly. The stock hit 52-week highs of $13.34 on November 17th, but it was extremely volatile that day as well. With no news on the tape in recent days, the stock has lost some momentum, falling from a November 17th close of $13.34 to a close...

In a new video, one noted doomsayer, Peter Schiff, takes on another one, Nouriel Roubini, on the subject of gold. Nouriel Roubini believes every asset, including gold, is over-inflated due to the dollar carry trade. Schiff disagrees, and says Roubini doesn’t understand the fundamentals behind gold — that it’s going to keep heading...

Zero Hedge Submitted by reader Don General This note contains an update on where Fed printing stands, how much is left, what the pace of purchases is, and when the program will stop. It also updates the Fed’s balance sheet, and its inflationary impact. This update houses some very important developments, due to actions at the US Treasury in...

Mad Hedge Fund Trader Featured Trades: (LUMBER), (TBT), (ZIMBABWEAN DOLLARS), (GOLD), (SILVER) (HEDGE FUND RADIO) 1) Sometimes I think I’m the only guy who follows lumber futures. But they are a great “tell” on the direction of wide swaths of the economy. Today, I’m not alone. Chart watchers have gone apoplectic because they think the five...

Courtesy of Jesse’s Café Américain Equities are floating on thin volumes and thick liquidity. It may float further, and await any event to end this rolling top and spark selling that could be quite impressive. But for now stocks are range bound, within a mild uptrend. Here is Steve Meyers view.

Courtesy of Robert Prechter of Elliott Wave International The following article is an excerpt from Robert Prechter’s Elliott Wave Theorist. For more information from Robert Prechter on bank safety, download his free report, Discover the Top 100 Safest U.S. Banks. Perhaps the single greatest reason for the unbridled expansion of credit...