Stacy Summary: Thanks for the great headlines.
- Huge gilts row barely registers as UK sleepwalks into stagnation (h/t Mike/Liverpool)
- Europe braces for credit card defaults (h/t Mongo)
- Kevin Rudd warns interest rates to rise fast (h/t Mini US)
- Chinese steelworkers beat manager to death (h/t Wilson)
- Oil: The market is the manipulation (h/t Lord Rothschild)
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@ Richard– i like that, it has a certain ring to it! Thank you!
seed banking with the locals ensures success. Doing our part for humanity.
and Youri thank you as well. It was a difficult discision with every family member against traveling with children abroad. Anyway, here we are, now to find a piece of dirt and get settled. We also brought in 20K organic heirloom seeds! One way to combat monsanto is to infiltrate their markets and then flood the farms with local organic and free seeds.
Best regards,
Don
Since Max dislikes coca cola:
It’s the new real thing from Coke – fizzy milk
http://www.timesonline.co.uk/tol/life_and_style/food_and_drink/drinks/article6727700.ece
Tightening Credit Becomes Bernanke Bind as Fed Faces Bond Purchase Unwind Now that the U.S. economy shows tentative signs of recovery, James Bullard, president of the Federal Reserve Bank of St. Louis, wants the Fed to adopt a plan for taming the inflation he expects may follow the end of the recession. Unless the central bank puts a strategy in place and presents it to the public, inflation expectations may run rampant, Bullard says. http://tinyurl.com/lqua95
Japan’s Corporate Service Prices Fall Record 3.2% as Deflation Takes Hold http://tinyurl.com/lqbke9
Vaccinations: Deadly Immunity – Thimerosal
http://tinyurl.com/l4qrmy
@Don: So now you are Don@ Bag of cocao beans??? Love Belize….was there in Nov. 1988…great folks and since it follows British Common Law I liked it even more than the neighboring Spanish derived cultures…follow your bliss….
I am still blaming the FED interest rate policies on the bubble in the oil market. There was 260 billion $ chasing a 4-5 billion $ oil market. If interest rates were 6% then that 260 billion would not have shown up.
High-Frequency Trading Faces Challenge as Schumer Presses SEC http://tinyurl.com/kojafd
Hidden from sight, debt creeps up on China
http://tinyurl.com/kumqt6
Citigroup to close consumer finance in Italy http://link.reuters.com/mep49c
@Don
Enjoy yourself and hope to hear from you now and than.
Government Swine Flu Advisor On Vaccine Maker Payroll http://tinyurl.com/njnmfv
Hot damn people! Finnally made it out of th US! I have been off the air with ou all for a little while while traveling. Missed you all. Any way, I drove to Belize, and am completely amazed at how much more folks here know about the US federal reserve lie and so many other things about the US that 90% of Americans still do not know or refuse to realise.
Free at last free atlast!!! I may not be responding to any post soon, but non the less, take it easy, and find your bliss.
Don
@Stacyherbert
Well it’s partly your great audience and partly cause some links where overlooked from yesterday, ” When Debtors Decide to Default” and “Credit Bailout: Issuers Slashing Card Balances” were posted yesterday by your audience. I allready posted “Guaranty Bank warns that it’s on the verge of failure” but was somehow overlooked maybe my links are to short?
But TnX anywayz!
@Youri – you’re on fire today! lots of good headlines, thanks!
Guaranty Bank, which has more than 50 branches in California, warned that it could become the biggest financial institution to fail this year.
FROM: Guaranty Bank warns that it’s on the verge of failure http://tinyurl.com/nvgjwc
Credit Bailout: Issuers Slashing Card Balances http://tinyurl.com/mc3a6g
When Debtors Decide to Default http://tinyurl.com/nuutxl
Amex, Capital One card losses dampen results http://tinyurl.com/l5s6kl
@Stacy:
Agreed. And the aluminum industry is killer on the enviro of Iceland:
http://news.bbc.co.uk/2/hi/programmes/crossing_continents/6453703.stm
Look at our export potential!
http://2.bp.blogspot.com/_H2DePAZe2gA/SmaOOd5YVTI/AAAAAAAAJcg/QFKIYj9096Q/s1600-h/cramerpimpjuice.JPG
Selling identities in China:
http://www.nytimes.com/2009/07/27/world/asia/27china.html?_r=1&hp
@frances snoot – I thought the same thing re: AEP article; his hatred for Europe really blinds his reason sometimes; some of the most disastrous times in economic history have been during periods of global competitive devaluations and beggar they neighbor policies; I’m sure the impact on consumers isn’t nearly as fun as it is for tourists who get to laugh at and enjoy the value of cheap currency; plus if you want people to ever start working again instead of just speculating, they need to have a currency that is worth working to earn
@ Mother Earth
The Hunter S Thompson quote that keeps coming to mind for me lately is:
“Big dark, coming soon”.
maybe unrelated:
http://www.brasschecktv.com/page/674.html
more about GS…
@Fibon11235:
Nice link. Yes, the error of Mr. Pritchard-Evans article is that he neglects always to showcase the insolvency of US and UK banks, and the impossiblity of the deficits of both countries in his attempts to foil the EU in the aluminum from Icelandic smelters. Is life so nice in a country with a devalued currency? US and UK will soon find out.
Dear Max,
All this that you talk about was only possible because GS, JPM and others promoted through the Administration and Senate and House Banking committees a stealth regulatory change, similar to what Hoover did in 1929, when GS and JPM unloaded all their shares in companies, then let the stealth regulatory change take effect, and the Fed to commpase the banks and companies, especially the competetors of JPM and GS, Chase and others, then reinstated the regulation in 1938 which is the basis fior Capitalism for the Private Sector, resulting in the biggest one day increase in the stock market in history.
In any case, this regulatory change that ended Capitalism on November 9, 2007 in the US and in Jan 2008 for most of the rest of thw world is the “smoking gun” i.e., the regulatory basis that made it possible to wipe out their competition.
Here below are some of the weblinks to the articles and economic papers that explain the real cause for the global collapse.
The point that will be demonstrated is that even though the US, European and some Asian governments, whether on the left or right continue to malign and vilify bankers and the Private Sector for causing the global collapse, pointing to the greed inherent in Capitalism, in fact Capitalism is not cause the collapse nor the banks, insurers or Private Sector, whether consumers, home buyers, businesses, corporate management, mortgage bankers, etc.. Due to a critical regulatory change, Capitalism ended in the US November 9, 2009 and for most of Europe and the rest of the world that adapted the same regulatory change early in Jan 2008. This will show that a clearer understanding of how the bank regulatory mechanism works can become the basis for a strong economic recovery for Thailand, and lead the way for other Asian countries.
The real cause for the economic collapse: (a 56 page economic thesis)
http://www.admc24-7city.com/files/V/the_financial_crisis_-_the_real_causes_050409.pdf
(Note: I’m also working on an expanded economic paper with more explanations regarding “predominant” markets as the basis for economic stability, etc.)
Article re the Capitalist mechanism (discusses “predominant markets”): [attached]
http://admc24-7city.com/files/V/capitalisms_economic_mechanism_versus_socialisms_economic_mechanism_061209.pdf
Here is another article that could be a good introduction to the others already provided:
The Secret of Capitalism – 1996: [attached] http://www.admc24-7city.com/The_Secret_of_Capitalism/The_Secret_Of_Capitalism.pdf
Related Capitalism Diagrams:
http://admc24-7city.com/TheoryBankingEconomicsDiagrams
My CV [attached]: http://admc24-7city.com/files/N/rijk_pieter_schoonheim_samara_-_cv_april_27_2009.pdf
Here is the website of a real estate project I’m developing:
http://admc24-7city.com described in the weblink:
http://admc24-7city.com/files/A/admc_24-7_city_project_overview_042209.pdf
I’ll be available to meet with you and any policy people and economists that would be interested. With the reinstatement of the accounting rule that is the basis for Capitalism, the economy will recover, but, as i mentioned in my articles, those that understood the effect of the accounting rule on the economy, who also gained by it, should be put out of business and put in jail, for instituting a financial coup of the private sectot. But you will only get legal traction on this if you have a “smoking gun, a real clear decernable unrefutable cause for the collapse, which these articles explain.
Pieter Schoonheim Samara
+66898199980
Or JW Marriott, 026567700, suite 2023
ASSET DEVELOPMENT AND MANAGEMENT COMPANY PRIVATE LIMITED
Incorporated in Singapore with Company Registration Number: 200505415D
Registered office: 17 Phillip Street #05-01 Grand Building, Singapore 048695
+639166244366; +639276261661; +66898199980; http://admc24-7city.com
Pieter Schoonheim Samara – e-mail [email protected]
[email protected]; [email protected]
Twitter: rijkpieter; Skype: pietersa
It’s like the hogs broke free and skinned the butchers.
It’s not supposed to happen like this!!
http://goldnews.bullionvault.com/mortgage_meltdown_072320092
I am wondering if the US and China will be able to work together on this problem, and also what will they cook up this time ?
Interesting article about reforming manipulation. Will it be real? I’m not convinced. Hope so.
http://www.24hgold.com/english/contributor.aspx?contributor=Julian%20D.%20W.%20Phillips&article=2219962446G10020
US/China $US talks in the next few days critical you would think.
Some good comments in the Telegraph article.
Found this link especially interesting, with data showing the next wave of foreclosures in US was already here in June:
http://www.fieldcheckgroup.com/2009/06/14/6-14-the-next-foreclosure-wave/
and 1.3% of ALL mortgage loans in the country became delinquent in May alone!
And a more recent article here: http://www.fieldcheckgroup.com/2009/07/19/7-19-mortgage-default-crisis-brutal-past-two-months/
Jim Willie reports that Canada has sold all their tar sand oil (future production) to China. Tant pis pour the US then, and Canada’s economy will be backed by Yuans (even if shale oil should not be used).http://tinyurl.com/nu3rlt
Do I understand it right that the essence of this oil market manipulation is price fixing? As long as that means better prices than black market prices sellers participate. Therefore market prices will always be higher than unorganized supply and demand.
@ Mike/Liverpool
Look that daily Gold Up USD Down keeps coming back. Some days its strong others its not so strong, but Im now thinking its a pattern.
Im no expert by the way lol
as far as i am concerned insurance full stop should be banned
The market manipulation cant work, can it? I do not understand? You cant keep a market manipulated up for ever? They must know this so my only logical conclusion as the insiders and doing this inflating know when the inflation will stop and the pivot point occurs so can bet short before any other normal trader and get though the exit door FAST?
This is the only logic for manipulating a market higher that I can see? Have they done this with tax payers money, in the end they may end up betting against taxpayers with taxpayers money, how odd. Surly not? or buy the bull with taxpayers money and bet the bear against with the banks later on? This is sick?
Just for the record personally I don’t bother trading in markets long or short, but rather watch from the side in horror. I only invest long term in one thing only lol
QUOTE from the article changed a bit
“don’t sell because the market’s going higher” strategy is based on an implicit faith in the Powers That Be: this rally can’t fail, LARGE QUANTS and HEDGES and BANKS are behind it!
@ snoop
no doubt. when steve fielding from family first seems like a good vote you know the country is screwed.
see how far this gets:
High-Frequency Trading Faces Challenge as Schumer Presses SEC
http://www.bloomberg.com/apps/news?pid=20601087&sid=aZwoslIGa5JQ
LOL @MiniUS, now that would be interesting.
Great article over at Zero Hedge
http://www.zerohedge.com/article/end-end-recession
Whats with Roubini, has he turned against his own predictions?
One of the problems with health is Australia is like all other problems here.
The State Governments are terrible.
They are full of corrupt individuals, union leaders and untrained, usually failed business people.
They are incapable of understanding business or community needs. They are generally there because their property developer mates got them there.
We all thought that an ‘all labour’ states as well as a labour national govt might be able to communicate better and achieve more. Not happeneing, its just as bad as it was with the Liberal party.
Also, much of the problems with healthcare in the western world is the domination of insurance companies. They are the ones pushing up the costs and the govt is adding to the problem with their subsidies.
You are right Snoop, anything govt puts subsidies on just goes up in price to the same level or higher. Health care, baby bonus, First Home Buyers, etc. Tax payers are supporting others ‘lifestyles’.
Peter Schiff for Senate….In Australia.
Max Keiser for Prime Minister!!!
When Rudd started there seemed to be good news on cutting back on unnecessary spending to Liberal/National lobby groups. Turned out to be the calm before the storm.
Concerning health care, where are the costs coming down like other industries? I think govt intervention helps to keep prices high, increase prices and maintain monopolies in line with the inflationistas policy. Not completely against govt health care, but where is the healthy competition that should be reducing some costs?
Some more Rudd news:
PM ‘doesn’t want to take over hospitals’
http://news.theage.com.au/breaking-news-national/pm-doesnt-want-to-take-over-hospitals-20090722-dsam.html
Mean time in Iceland:-
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5912682/Icelands-krona-proves-the-magic-wand-as-Europe-ails.html
Mike
@alister,
yeah, pity, there’s no real choice hey. But Rudd has betrayed the country, coming off as a fiscal conservative one year and then after a few brown nosing sessions with Brown and Obama he’s budgetting record deficits.
snoop: rudd may not be a genuis at governing but the reality is the opposition (‘conservative’ turnbull) is an ex ceo/chairman of GOLDMAN SACHS!!!! …. i in the past have been more aligned with the liberal/’conservative’ side of aus politics but next election think i will vote independents purely becuase i cannot allow myself to vote for a GS stooge … =/
first home owners grant, record deficit spending, interest rates to go up. This Kevin Rudd is a fricking genius!
Some nice graphs on this site.
Showing deleveraging over time and comparing now with the last 100 years.
Interesting debt to GDP comparison now and in the 1930′s.
Aaaarrrggghhh!!!
http://www.debtdeflation.com/blogs/
Commodities currencies on the rise.
Mmmmmmm
Will Bernanke come back with some strong $US action?
When will he lose control of this ‘action’?
When will his ‘tools’ stop working?
This is fascinating. Wish I knew what the hell was going on.
Ha!
How to easily manipulate markets :
A Wild Speculation: the Stock Market and the Economy
July 25, 2009
http://www.oftwominds.com/blog.html
A good read … and probably right on the nail.
It really bothers me, almost on a personal level, that Max doesnt get airtime at the BIG channels. I know that everything Max & Stacy has discussed has HELPED ME and should also help others. Its almost like no matter how much we nag at the channels they seem to stick to “US-approved” news sources.
Been looking into this guy http://nl.wikipedia.org/wiki/Hunter_S._Thompson
I’m getting annoyed by officials spouting memes that just make no sense in order to tie your brain into a knot.
Example: ‘Economy will recover but jobless rate may rise’. translation: ‘Please stuff my face with bananas’. Another one from a member of the european parlaiment, Daniel Cohn Bendit: ‘I’m not interested in power, I like to have influence’. Or Bachman comparing the public healthcare option with having to wait at McDonalds.
There is an element of contempt in these statements that is hard to bear, but maybe if you feed the cattle Miley Cyrus and Big Macs long enough, they do develop into a convinient herd of suckers. Create enough of them, and the system is fixed.
Saw a nice documantary about Hunter Thompson the other night. Hunter got inspired by McCarthy because McCarthy identified the unjust justice system (class justice) due to laws introduced by the weatlhy that worked in their interest. I think that is a major obstacle against structural improvement in the US, and maybe to a case Max wants to start.
Maybe Max could issue shares to fund a RICO case against GS?