Hmmm... Quite interesting when you search for the Allied Irish bank default on google. Zero results from the lame stream media site, but a lot from conspiracy sites... Someone trying to discredit the truth...
A nationalized bank in default?! No wonder Greece CDS levels warrant a Guiness book of records entry...
Next Irish & Portuguese CDS levels to follow...

Google search magic, shame on you

Thanks to RSS feeds that save urls. BBC forgot to expire their link.

Oops - http://www.bbc.co.uk/news/business-13752758

Hmmm... Are the americans finally waking up. Ron Paul has long been dismissed, but this poll is a significant political signal... Fed banks and other banksters wont like this since Ron has been a constant thorn in their fraudelent ponzinomics...

http://news.yahoo.com/s/..._nm/us_usa_campaign_poll

https://twitter.com/#!/zerohedge/status/83135189332656128

Hmmm... Even Zerohedge is now onto the KES... Global spotlight...

karanjakinuthia, welcome back

@KK - Are you aware Kitco was raided on June 8th by the Cando authorities and this is was not on any of the lame stream media outlets?! This is very serious for those traders that rely on the paper trades without physical delivery...

http://www.youtube.com/watch?v=8TonfrYh8KM

The euro almost outdoing the dollar as gold tramples both and other fiat currencies...

And as usual Nigel Farage talks in his best way...

http://www.youtube.com/watch?v=YTBbcaNLccM

The Central Bank of Kenya has finally caved in to political pressure by towing the line of government agencies who do not understand market dynamics by blaming speculators.

This comes in the wake of the Open Market operations to turn the tide on the sliding Kenyan shilling. Unfortunately, an Open Mouth operation has temporary success. No single entity is able to reverse a secular bull or bear market.

Once the line in the sand of 82 KES/USD was crossed, the next designation was 98 KES/USD.

Please see below:

http://www.facebook.com/....44489575924&type=1

@kk. Seems and sounds too fatalistic. If there was more severe tightening, you believe this would have happened anyway? I had a debate on whether this was simply a correction on the previous KES mispricing, but these price controls in the money mart have created the problem. CBK is complicit as evident by the use of the window; they just thought the market was rational.

@Scubidu: The questions we should all be asking ourselves is:

1. What is the international perception of a currency?

2. Is the currency movement a structural shift or speculation?

For the first answer, the Australian and Canadian Dollars, Swiss Franc are presently considered as safe haven, therefore an increase in interest rates attracts capital. The opposite applies to the Euro whereby an increase in interest rates is bearish for it adds on to interest payments.

The second answer builds on the first, a structural shift is taking place with the rise of Asia, the fall of Western civilization due to debt and taxes, and concentration of capital in commodities. The Aussie ticks all three boxes, the Cando two boxes and the Swissie one box. Money supply will rise in all three nations as capital flows in, higher interest rates to dampen demand will have the opposite effect of drawing even more capital.


@Drake: This is an ascending triangle whereby there's an attempt to breach a resistance level multiple times. There's a swift break-out, fall back and run away:

http://stockcharts.com/s...ns:ascending_triangle_c