July 19, 2012: The Most Important Financial Links

UBS Issues Hyperinflation Warning For US And UK, Calls It Purely "A Fiscal Phenomenon" (Zero Hedge)

"Hyperinflation is more closely related to deflation than to "normal" high inflation, as hyperinflation can be viewed as the result of a failed attempt at printing money to avoid the deflation that would be caused by austerity."

Peter Schiff - This Is My Single Greatest Fear (KingWorldNews via Business Insider)

"My biggest worry is that capitalism and the free markets will get the blame when it really hits the fan. When we get the real crash and everything implodes, and it’s really Armageddon style collapse, my fear (again) is that capitalism and free markets take the blame for problems that were created by government."

Ray Dalio's Q2 Bridgewater Letter Is Out: Here Are The Highlights (on stocks, bonds, oil, gold, and the global economy) (Business Insider)

Roubini sticks to 2013 'perfect storm' prediction (Reuters)

Technician Charles Nenner: Beware If You Own Bond Funds; Looking to Re-enter Gold at $1640 (he still sees the Dow hitting 5,000; says buy cheap rental properties.) (Financial Sense)

Collapsing German yields impacting currency markets - charts (Sober Look)

Deutsche Bank, HSBC Probed for Libor Collusion (Bloomberg)

GRAINS-Soybeans, corn climb to record highs on U.S. drought (Reuters)

U.S. corn jumps to record high above $8 a bushel (Reuters)

FISCAL CLIFF WATCH: Statement Of Robert J. Stevens Before The House Armed Services Committee - 10,000 Jobs at Risk (Lockheed Martin via Business Insider)

"But without additional guidance on how or when cuts will be implemented, the modeling that we're undertaking lacks clarity in many cases. Based on the limited information available to us and taking into account the allocation of our business among DOD, other U.S. Government and commercial work that will not likely be impacted, a very rough “seat of the pants” estimate is that we might be required to lay off about 10,000 employees."

Treasuries Rise as Bernanke Says Situation Unsustainable (BusinessWeek)

Post Office might miss retirees' payment, as first ever default looms (Fox News)

Jobless Claims In U.S. Rise As Auto Plant Layoff Effects Ease: "Applications for jobless benefits increased by 34,000 to 386,000 in the week ended July 14, Labor Department figures showed today." (Bloomberg)
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