Weakest Link Thursday- LinkedIn Prices IPO At Astronomical $45/share, Trades At $90/share In 2 Minutes; ECB Threatens Greece, Fails; Sign Of The Times? Students Consider Prostitution To Pay For School; Europe Demands Next IMF Head To Be European, While China Demands Next IMF Head To Be Asian; Initial Claims, LOL; Fukushima Updates Galore; Much More

Updates
Update 1: 3M CEO plans to sell 1/3 of his company's stock. I guess he sees the economy recovering. 

Update 2: LNKD is now trading over $120. No comment necessary.

Update 3: BBC Viewpoint on future of TEPCO. Turn out the lights.

Update 4: Those are fightin' words. Speech about Syria, yada yada yada.  

Update 5: Here's a shocker - LinkedIn CEO "very comfortable" with stock price. Not quite sure if words can describe what I'm feeling now.

Update 6: duh! #winning! I get it now. LNKD is pricing in Weimar Republic inflation. It all makes sense now. 

Main Article
By now, nearly every investor the world over knows that "the markets" (or whatever is left of them) are entirely bogus. Fundamentals no longer matter one iota, as every stock is "priced" on the condition if "Quantitative Easing" will continue or not. We would like all of our readers to consider these two points and then draw your own conclusion. The first point - Insider sales for the week ending Fry-Day the 13th amounted to $1.025 Billion. The second point - The much hyped LinkedIn (NYSE: LNKD) IPO was priced at $45, and within 2 minutes traded to $90.

With that in mind, "the markets" continue to grind higher and higher, pushing already extreme P/E ratios even further into the realm of fraud preposterous. Certainly, insiders know more about their perspective companies than "the markets" do and that would explain the absurd amount of insider selling. ZeroHedge once again gives an accurate synopsis of what is going on and helps to show that "the markets" have become nothing but a giant, limitless ATM for insiders of Wall Street while everyone else sucks wind. If you needed confirmation of sucking wind, look no further than every hyped up IPO in the past 2 years of "quantitative easing." Today's incongruous award goes to LinkedIn. The company, which valued their stock at $45/share, saw this morning, with the help of limitless fiat money, the price soar to $90 in 2 minutes. Why? Because P/E ratios of 500x (five hundred) earnings are not high enough - you need P/E ratios of 1063x (One thousand sixty three). After all, a company that had net income of $8 Million should be worth $8.5 Billion. Right? The insiders who have become instant multimillionaires thank the Bernank and the future retail sheep who will lap it up like a camel at an oasis. We find that the bookies underwriters are non other than JP Morgan, Bank of America and Morgan Stanley. We're surprised not to see Goldman's hand in this valuation. After all, they are great at "workin' it."

Speaking of workin' it, the ECB is really workin' Greece today, playing them like a used flute violin at a circus school concert. Did we mention that the next chapter of the comedy is being written right now as the ECB threatens Greece. That's correct. The ECB told Greece in no uncertain terms that they would stop accepting Greek bonds as "collateral" (Laughing out loud) if they restructure. It seems, the ECB knows their days are numbered their usefulness would be in question if Greece restructures (read: defaults). Another day, another joke on the people of Greece and Germany because in the end, Greece will be forced to restructure.

Speaking of Germany, a new study in Berlin shows that 1 in 3 students would consider sex work to pay for their education. Another "sign of the times?"

Since we're still on the subject of Europe, another circus sideshow interesting event to watch over there in the old world is, Hu who gets to pick the next IMF head.? The EU is demanding that the IMF head comes from the EU (despite being HQ'd in the US of A). Funny, because China is demanding suggesting that the new IMF head should come from someone of the "New World Order." Translated from Mandarin into English, that roughly means someone from China, or at least someone from Asia. Bumping head seems to be a pastime at the IMF. Pay no attention to the 10yr Greek bond yields - 16.31.% and rising - their exploding for fun.

Initial claims is a joke is out today and while the MSM headlines are all cheering the 29k less people that applied for unemployment versus the upwardly revised data from the week before (which invalidates the data), the reality is still alarming - nearly every week over 400k people still apply for unemployment benefits. Needless to say, 50k people fall off the payrolls every week as well so they are no longer even counted as unemployed. Further, we guarantee with 99.99% certainty, this week's figure will be revised upward next week but not a peep about that in the MSM. So much for "statistic errors."

Now you probably already know why gold and silver will go "to the moon, Alice!" Let's review. There's two ways this can go and both lead to higher gold and silver. In one scenario, QE2 ends in June because of you know Hu who. That will spike interest rates as Treasuries collapse, which in turn collapse whatever remains of housing. In the other scenario, QE3 is launched, and the money flows like wine at an Italian wedding. See the picture? (Not giving any advice here, just stating two possible scenarios).

Finally to the news that really matters, Fukushima. You already knew about the 2 nursing women back in April that had radioactive iodine-131 in their breast milk. Now, an MSM article from JapanToday is reporting that 7 women have radioactive substances in their milk. Five of those women were from Tokyo and two were from Fukushima/Irabaki. The "small amounts of radioactive substances" were of course cesium and iodine. Although the levels were small, it shows that indeed radiation is seeping all across Japan and since radiation is cumulative, well you connect the dots. Small amounts over long periods of time add up to large amounts. Basic math.

Also of interest is news that radiation levels at reactor 3 are rising. Why would they be rising, unless re-criticality is occurring as Arnie Gundersen reports and TEPCO denies. Basic math again comes into play.

Our daily read of Energy News results in this gem of a find - "Fukushima worker is told his internal radiation level is 30,000 cpm." Let's see - normal internal radiation levels for nuclear workers is "several hundred to 1,000 cpm." This worker has a reading of 30,000 cpm. No worries however. Japan has raised the legal limit to 500,000 cpm to ensure everyone is getting healthy doses. Welcome to the club, new members.