By Daily Crux Editor Brian Hunt:
Dan Ferris has a unique gift for reading through financial news... then sorting out the crap to deliver the "crux" of the story. His take is often far different from what the headlines indicate.
Below are several financial headlines of the past week. The actual headline is underlined, and Dan's comments follow underneath.
Obama's economic whiz
Comment: Donald Trump’s hair dresser. Michael Jackson’s doctor. Brittney Spears’ birth control methods. Jumbo shrimp. Military intelligence. Paper money.
I can do this all day…
Beware the gold bubble
Comment: Yeah, that’s it. We’re in danger of putting too much faith in gold, and not enough faith in paper money, fractional reserve banking, stocks at 30 times earnings yielding 1.8%, 30-year Treasuries yielding 4%, and Wall Street’s ability to make Barack Obama kiss its ass.
No bubble in all that other stuff. It’s gold you have to watch out for!
Federal Reserve Frets Over Commercial Real Estate
Comment: “Fed Faces Truth, Craps Pants.”
Plenty of Fat Left to Trim, Bankers, Consultants Say
Comment: So… letting banks lever up 30-1 and lend out $10 for every $1 they take in deposits and then rewarding them when it all blows up hasn’t led to the most frugal banking culture possible?
Barofsky Says Treasury Misled Public
Comment: When your job is hoarding stolen money (tax receipts), you're pretty much lying to the public every second of your existence.
Crux note: Dan Ferris is the editor of Extreme Value... and he's currently recommending one of the safest and most profitable investments you can make in the gold industry - yet it has nothing to do with mining stocks... or gold mutual funds... or gold bullion. Learn more about Extreme Value
here...
More from Dan Ferris:
Why you must own this "World Dominator"
"You mean you can't insure $400 of deposits with $1 of reserves?"
If the repeated warnings of disaster have you concerned, read this...