Stacy Summary: Wow, it’s been awhile since we had a banker on the run story. I remember there were quite a few while we were making The Oracle. And, speaking of bankers . . . Tony Blair is in the news. Oh god, I thought we were rid of him? Finally, I love that the FTSE rises 3 percent and yet the VIX rose even more . . . is it time? I mean, Tony Blair is, after all, an important contrarian indicator.
- VIX advances 3.5 pc as fear grows (h/t Phil)
“That is remarkable,” Randy Frederick, head of trading and derivatives at Charles Schwab in Austin, Texas, said of the tandem move by the S&P 500 and VIX today. “The VIX is expecting something here, either a pull back this afternoon or tomorrow.”
Tags: banker on the run · credit suisse · tony blair · vix40 Comments
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Stacy
Look on the bright side, as Euro-prez he may well visit a French factory to tell the workers they toast………..only to find he is
Did you see that “Banksy” of him?
Mike
[Given Goldman's spectacular results so far this year, "the company has basically been given a green light to continue operating in a 'business as usual' fashion," they wrote in a note to investors on Tuesday. "Bank regulators have their hands full with other deteriorating bank situations and for the time being, seem content to let Goldman do what it's always done."]
http://www.marketwatch.com/story/goldmans-not-acting-like-a-bank-yet
Max & Stacy really needs to hit MSM but we all know that aint gonna happen.
Re: Tony Blair for EU President.
I felt sick when I heard this news, God I hope it doesn’t happen! I can’t tell you what I think of that man – it’s too obscene.
Can you imagine; Obama president of the US and Blair president of the EU – we’ll be f*cked! Even more screwed up financial markets and rigged everything. I mean, if ever there was a man more willing to bend over for the banksters it’s Blair!
@Downing Street admits it backs Tony Blair for EU Presidency
OMG … and I hoped it was “just” a rumour !
Did he change to Catholicism just to get the job or what ?
… and don’t forget, didn’t Parliament recently change the rules to allow Catholics to marry British monarchs ?
All just “coincidence theory” of course !
Stacy,
I followed the link from the Bloomberg article on the VIX over to their article about CIT Group, Inc. WTF. I read elsewhere that CIT didn’t need a bailout because it did not pose a systemic risk. But Bloomberg says their trading was halted today b/c the White House is considering a bailout for them?
Unbelievable. These people have no shame. Surely the VIX isn’t anticipating CIT being turned down by the government for a bailout, so it must be the jobless data.
I think I’m gonna head out to the liquor store after all… need to suppress my growing anti-American sentiment.
Cities are getting more agressive on fines, as predicted..
http://www.suntimes.com/news/cityhall/1666628,CST-NWS-boot15web.article
Hey, I like Sarkozy’s advisor. Too bad so few Americans are willing to say what Guaino said about Goldman:
http://www.bloomberg.com/apps/news?pid=20601090&sid=aVum8RFiZP3k
Has it got to the point where we need foreign politicians to call out the captured politicians in our own countries? If so, sorry, everybody–our politicians heart corruption, so they won’t be calling out any of YOUR corrupt leaders.
T/A suggests a new US$ breakdown …
http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=0&mn=6&dy=0&id=p72941537718&a=167022136&listNum=3
@ Mother Earth – Wow! That’s pretty bad.
Here in NY, we gradually learn about new taxes and fees. There were so many increases proposed initially that it got pretty difficult to track the changes that eventually were put in place by the governor, so we discover something new every week or so. The other day, I noticed that the state is now taxing the gas delivery fee (as in gas delivered through the state’s pipes), which the gas company charges us, at 2%. Little by little it all adds up.
SeekingAlpha : Washington’s Dilemma: This Isn’t a Recession, It’s a Collapse
http://seekingalpha.com/article/148526-washington-s-dilemma-this-isn-t-a-recession-it-s-a-collapse?source=email
I think it’s time to dust of one of Max & Stacys predictions from the Oracle show. Namely the one about the division of the US into several parts owned by their creditors..
We all saw this coming, I saw this autumn 2008 when I caught Maxs shows on Youtube.. but many of you I guess followed the TAM-shows since early on. This is scarrier than hell but as someone wrote.. why run.. you will only die tired..
A Destroyed Economy And Mistaken Legislations http://tinyurl.com/l75ltm
A bit more on Tony Blair:-
Since Tony Blair took office a decade ago, he has committed British forces to action more often, and in more conflicts, than any Prime Minister since 1945 …
He has a fortune paid to him by JPMorgan Chase for his ‘advice’. The London Daily Telegraph reported that Blair is earning £2 million a year for this ‘advice’ without ever needing to go into the office…
To have Tony Blair as President of Europe would bring an end to what is left of the nation state and any checks and balances with regard to Big Business, Big Banking, Big Pharma and Big Biotech…
Blair is Biotech Man and tried so hard to force genetically-modified crops on the British people. It would be a priority for him, as Monsanto’s unofficial envoy, to remove any blocks on GM crops across the whole of Europe…
Blair actually said, without choking: ‘If we can establish and spread the values of liberty, the rule of law, human rights and an open society then that is in our national interests too. The spread of our values makes us safer.’…
When Blair was asked at a news conference what he had done to make his own life more ‘sustainable’ there was a long silence. ‘We’ve got solar panels on our house’, he eventually spluttered.
‘Which one (he has many)?
‘The London one.’ He said.
The truth doesn’t matter to these people and it is like garlic to a vampire in the case of Tony Blair. If he’s involved, it’s a scam. Whenever they want someone to lie without a hint of shame, it’s ‘call Tony’.
@Sharon .. nice description !
We had a Maths teacher at one of my Schools that we used to call “Grinner” ! … say no more !
Nice post !
LA Times : Despair flows as fields go dry and unemployment rises
http://www.latimes.com/business/la-fi-drought6-2009jul06,0,3172131.story
… “Reporting from Mendota, Calif. — Water built the semi-arid San Joaquin Valley into an agricultural powerhouse. Drought and irrigation battles now threaten to turn huge swaths of it into a dust bowl.
Farmers have idled half a million acres of once-productive ground and are laying off legions of farmhands. That’s sending joblessness soaring in a region already plagued by chronic poverty.
Water scarcity looms as a major challenge to California’s $37-billion agricultural industry, which has long relied on imported water to bloom. The consequences of closing the spigot are already evident here in rural Fresno County, about 230 miles north of Los Angeles. Lost farm revenue will top $900 million in the San Joaquin Valley this year, said UC Davis economist Richard Howitt, who estimates that water woes will cost the recession-battered region an additional 30,000 jobs in 2009.”…
Lets see, Gordan Brown, Bilderberg member. Tony Blair, Bilderberg member.
Yeah like gordy didnt know this was coming. Its all part of the paln people
Talks between the government and CIT have broken off, chapter 11 looms for the firm. This firm is the largest lender in the US to small and medium businesses in the US. CIT is the 20th largest firm in terms of assets in the US.
I wonder what was the “Master Plan”?
Well China/Russia have blown it to the Moon
Mike
Baltic Dry Index was down about 800pts last week too.
Oil was down. Gold was down.
My opinion is the bots will start dumping into the hype soon.
After pretty much every crash the low is always retested soon after a bounce.
Indeed this Isn’t a Recession, It’s a Collapse or a controlled demolition like Max described it so well. We see many floors in this deliberate attempt to get everybody in debt. We have the derivatives in the shadow banking sytem, the rigged stock and gold market but there is more.
Banks are not lending and hoarding the money so the economy is bound to go only down.
The latest virus outbreak which still is hyped out of proportion by Reuters for instance, allready helped this crises and there is more to come. The plan is to force everybody injections this autumn even when all virologist say you can easy batlle this virus of whitout.
Food and water shortages have been predicted a year ago and we see it happening right now. Obama is talking about weather control now when there is proofr allready that the Kerosine has additives which shouln’t be in there and causing chemtrails to create clouds and cancer rates go up.
The Brotherhood shifted to the fived gear to get the economy down at any cost. They will not hesitate to play all of their red Jokers to get the world economy on it’s knees including spreading of more severe viruses like Ebola or an Hiv variant of the H1N1.
Geithner admitted that the dollar has to go down but added he wanted to do it in a controlled fashion which was the plan all along. Question remains when there will be sufficient people mass to opose these madman who regard themselves as legitimate killers according to their own social Darwinistic inbred theories.
But the masses are gaining weight in awakening from all the hoaxes presented to them. Only 40% now believes in the CO2 hoax against 80% a while ago, for instance. We have to keep fighting to awaken the people. It’s our only hope.
Slot makers may hit jackpot on states’ gaming bet http://tinyurl.com/lacbjw
some may cringe at watching anything from Fox News but I look forward to Freedom Watch d/loaded to youtube. The Judge’s opening statements on the Fed is a doozy in this episode:
http://www.youtube.com/watch?v=ZLGWIrBZCvY
Part 1: 07/15/2009 Freedom Watch 23 w/ Ron Paul, G. Edward Griffin, Peter Schiff, more
@Stacy
Even finance commentators like “ex” military intelligence Bob Chapman have been predicting Tony Blair for EU president. Bob claims that was part of the reason for the conversion to Catholicism. Not quite, Bob.
Blair has been teaching religion at Yale, part time, and demanding that the Catholic Church change its policies on certain issues. (Gays, don’t rejoice. Look further ahead.)
Gorbachev announced years ago that “we are creating a new religion based on earth worship”.
One World Bank
One World Government
One World Religion
Ruled by twelve wise men (the wise men Gorbachev refers to, presumably).
@Phil
A while back the G8 heart throb Putin was thought to be in the running to head the EU dictatorship.
Sorry. The VIX is a volatility indicator and its rise today portends very little. Certainly nothing suggesting an immediate crash in equities. More importantly, the S&P500 Index closed above its intermediate-term peak established in early July, which can only be counted a bullish omen.
LIBOR, TED, and BDI are all behaving themselves. TNX is somewhat troublesome ratcheting above its 40 week average, but IRX is still comfortably below its 40 week mean. Although the dollar is not doing so well, it is doing little more than flopping around in its trading range. The lid appears to remain securely on top of the international money pot, for now.
On a more unsettling note, volume flowing into advancing shares has pretty much reached its upper asymptote. Momentum measures are all strongly overbought. It would not be surprising to see a short-term resting period or pull-back over the next several days. At this point, it does not seem likely that an upcoming reaction will violate the March low. (Historically, May to November is the danger zone for equities.)
Further, it looks more and more that the large formation taking shape since last November is a reverse head and shoulders, and that irregularly higher prices are in the offing.
The larger problem I see, however, is that liquidity is being channelled into speculative ventures while the productive sector is being starved for capital. Should broad productivity measures not improve pretty rapidly, the present rally might soon be truncated, and a more virulent bear awaken from hibernation.
@Stacy
“I prefer conversations and debates about bankers, banks, markets, finance, Treasury, Fed, currencies.”
Ok….
http://www.rense.com/general76/holhoax.htm
Quote:
The US National Academy of Sciences has since issued a statement that the “hockey-stick” graph was defective. Significantly, however, the UN has issued no statement of apology or correction. It continues to use the “hockey-stick” in its publications.”
Elitists, if confronted with no recourse, might say that perhaps global warming is a “noble lie,” like Iraqi WMDs. It’s the environmental 9/11. They might say, “but the Earth is dying and we had to figure out some way to save it (without giving up our control over it, of course).” But I have never seen deception result in goodness before, and I don’t expect to now. Furthermore, how can one take seriously the empathic capability of British Petroleum’s Chief Executive Peter Sutherland who, in a speech to his elitist cohorts in the Trilateral Commission, “issued a ‘Universal battle cry for the world to address “global warming” with a single voice?’” Then there’s General Lord Guthrie, director of the ultra-elitist financier operation N.M. Rothschild & Sons, member of the House of Lords and former chief of the Defense Staff in London, who urged the Trilateral power-brokers to “address the global climate crisis with a single voice, and impose rules that apply worldwide.”
According to Richard Freeman and Merry Baker in their enlightening article “Carbon Trade Swindle Behind Gore Hoax,” here’s what the global warming sales pitch is designed to create: “The centerpiece of the U.S. emerging market for carbon emissions trading, is the Chicago Climate Exchange (CCX), created in 2003 as a “voluntary,” or pilot agency, part of a London-based network positioned to reproduce the oil bubble on a scale orders of magnitude greater and more dangerous, while at the same time, destroying what’s left of the physical economy.
The idea is that if governments cap CO2 emissions, then the “market” will take off for the buying and selling of emissions “allowances.” This is the whole point of the “cap-and-trade” plan for CO2. If it sounds crazy, it is. But Gore is just one of the most visible parts of the elaborate (and bi-partisan) schemes that have been set in motion under cover of climate change. Gore’s personal financial involvement is blatant, especially through Goldman Sachs-a large shareholder of CCX, and in 2004, the creator of Gore’s very own London-based hedge fund, Generation Investment Management.
CCX has multiple interconnections with the London-run Intercontinental Exchange, Inc. (ICE), whose subsidiary is the International Petroleum Exchange, the world’s largest petroleum futures and options market. The dirty details of ICE and the Great Oil Price Swindle came out extensively at a May 8, 2006 Senate Democratic Policy Committee hearing, where Sen. Carl Levin (D-Mich.) said that futures speculation on the ICE was the driver for adding $20 to 25 to the price of every barrel of oil”
The carbon swap / global warming advertising campaign psyop reminds me of internet spam plugging unknown penny stocks. But this is a professional racket, a really good one. I’m not sure I’ll be buying carbon swaps. Will you? We’re better off spending time in the garden.
Regarding the “market peonage” concept that Hudson mentioned, with everyone paying the highest possible “rent” to Goldman…
In some small American towns you see this “market peonage” in the housing.
Landlords know very well how much the town’s wage slaves are making e.g. $8 an hour with maybe 24 hours per week if they’re lucky. So the landlords conspire to raise rents to just what the wage slaves can pay after housing and food. Since the US wage slaves have no health insurance, if they get sick they are truly screwed.
Nothing new under the sun…
The Fed is gonna raise interest rates anyway. This is just a reason, then when the people complain they can blame Ron Paul.
Sorry ,I forgot the people don’t complain do they.
Hey all,
Who are these people and what are they up to?
http://mapper.nndb.com/maps/766/000001763/
Doesn’t look good.
Slot makers may hit jackpot on states’ gaming bet (Updated) http://tinyurl.com/m2cm96
So, there’s a $US band and a Gold band.
one up, the other down…..
Banks buying and selling their own stock volatility, up-down-up-down…..
Now what?
China stimulus bubble has kicked in and everyone thinks its all good now?
Uh uh. It feels like a financial tsunami coming. Could it be coming from New Zealand?
Some wise words on what to do when you’re going through customs, and those ever suspicious Frankfurt Police or Guardia di Finanzia just don’t believe you’re sober…
Courtesy of Uncle Frank…
check it out (from the Circus Krone)
http://www.youtube.com/watch?v=uF4_1gvoXEc
Is Barney Frank kissing Karl Rove’s arse, or is it the other way around?
http://libertymaven.com/2009/07/14/karl-rove-and-barney-frank-agree-on-ron-pauls-federal-reserve-audit-bill/6459/
Why should ANY bank or government be “opaque” in any shape or form?
A little something funny for you all before I go to bed.
The answer to America’s health care woes = Guns, Credit, and Corn!!
http://www.colbertnation.com/the-colbert-report-videos/233530/july-14-2009/the-word—guns–credit–and-corn
; – )
Not sure how the airport situation relates to anything here, but the Zappa video does. He was “On Duty”–and wasn’t he speaking the truth!
A peek into the quasi-military, banker’s control room:
Given that Zappa was, by numerous accounts, a rigidly authoritarian control-freak and a supporter of U.S. military actions in Southeast Asia, it is perhaps not surprising that he would not feel a kinship with the youth movement that he helped nurture. And it is probably safe to say that Frank’s dad also had little regard for the youth culture of the 1960s, given that Francis Zappa was, in case you were wondering, a chemical warfare specialist assigned to – where else? – the Edgewood Arsenal. Edgewood is, of course, the longtime home of America’s chemical warfare program, as well as a facility frequently cited as being deeply enmeshed in MK-ULTRA operations. Curiously enough, Frank Zappa literally grew up at the Edgewood Arsenal, having lived the first seven years of his life in military housing on the grounds of the facility. The family later moved to Lancaster, California, near Edwards Air Force Base, where Francis Zappa continued to busy himself with doing classified work for the military/intelligence complex. His son, meanwhile, prepped himself to become an icon of the peace & love crowd. Again, nothing unusual about that, I suppose.
http://www.docstoc.com/docs/6604252/Inside-The-LC-The-Strange-but-Mostly-True-Story-of-Laurel-Canyon-and-the-Birth-of-the-Hippie-Generation
Given that Zappa was, by numerous accounts, a rigidly authoritarian control-freak and a supporter of U.S. military actions in Southeast Asia, it is perhaps not surprising that he would not feel a kinship with the youth movement that he helped nurture. And it is probably safe to say that Frank’s dad also had little regard for the youth culture of the 1960s, given that Francis Zappa was, in case you were wondering, a chemical warfare specialist assigned to – where else? – the Edgewood Arsenal. Edgewood is, of course, the longtime home of America’s chemical warfare program, as well as a facility frequently cited as being deeply enmeshed in MK-ULTRA operations. Curiously enough, Frank Zappa literally grew up at the Edgewood Arsenal, having lived the first seven years of his life in military housing on the grounds of the facility. The family later moved to Lancaster, California, near Edwards Air Force Base, where Francis Zappa continued to busy himself with doing classified work for the military/intelligence complex. His son, meanwhile, prepped himself to become an icon of the peace & love crowd. Again, nothing unusual about that, I suppose.
Sorry about the redundant bit. Wanted to quickly add something to Guiseppe’s advice when going through customs… while the reference was still fresh.
Gold ETFs : Greenlight Holds Bullion, Buys Reinsurance Stocks (Update1)
By Saijel Kishan
July 14 (Bloomberg) — Greenlight Capital Inc., the $5 billion hedge-fund firm run by David Einhorn, told investors it switched all of its holdings in a gold exchange-traded fund into bullion during the second quarter.
…
…
http://www.bloombergnews.com/apps/news?pid=20601213&sid=arz6MqVbTVBs
Denninger : Bulltard Roundup (CNBC .et.al.)
http://market-ticker.denninger.net/archives/1219-Bulltard-Roundup-CNBC-.et.al..html
Talking straight !
anything but green: Your piece about Zappa is poor in comparison to other contributions you make to this list.
Since when are children responsible for the actions of their ancestors? He rebelled against his family which is about as much as anyone can do.
“rigidly authoritarian control-freak and a supporter of U.S. military actions in Southeast Asia”
Authoritarian in the studio, but then again the guy new what he wanted. You could say he was conservative in taste, perhaps. Outside of the studio he was hardly authoritarian, he was a Hare Krishna.
I would appreciate a link to the claim he supported military action anywhere given his statements elsewhere regarding the ineptitude and futility of military action in countless interviews and lyrical material. He was the first to receive censorship under the PMRC for the material he put into the public domain on the subject and also of government use of American technology in Africa – using vaccinations to spread aids, and that was in the late seventies and early eighties.
“His son, meanwhile, prepped himself to become an icon of the peace & love crowd. Again, nothing unusual about that, I suppose.”
He hated the peace and love crowd accusing them of acting like sheep. 90 % of his back catalog is satire aimed right between the eyes of the peace and love crowd/yuppies/hippies which eventually transformed into the modern day bank executive.
His music is not to everyones taste – thats for sure – but anyone who lumps Zappa in with the hippie movement has not done enough research.