Stacy Summary: At this rate, Max will be in Paraguay looking for Ken Lay by January. Perfect time for their summer. You can go reserve your download at this link:
Update: Project is now 17% 18% funded. Only 990 989 979 reservations available!! Get one (or ten) while you can.
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@Giuseppe Bagoshite
My bad, it’s gas thanks for catching that. They are apparently only speculating that there will be more finds.
My speculation is that some of this first $700 bill bailout money (Now total $24+ trill) went to that person or organisation who was in the same or even higher Mafia league.
Youri: the money went to European banks.
Who says Kenny is in Paraguay?
Where can I find info on this?
Will reserve download but need convincing information.
Here’s a decent site for tracking OIL and related energy news (including stories about Geo-Thermal plants causing earthquakes!!!!)
http://www.theoildrum.com
@coby
REPsol and ENI are part stake-holders in the claim
I think it is Natural Gas
I heard about it (in english) on Friday
http://www.marketwatch.com/story/repsol-says-venezuela-find-may-be-used-for-lng-project-report-2009-09-12
According to Zapata George (& plenty of others),
Peak OIL happened about 4 years ago…
it seems to be all downhill from here…
The “BIG” finds aren’t that big (nor recoverable)
Those poor, opulently obese Oil Billionaires in the Saudi deserts are going to be FUCKED…
I guess that’s why they are starting to try and rob each other…
Like Max and Stacy implied…
What are we going to make plastic out of in the future?
and Women’s War-paint…
Canola Oil?
You may have the choice between slavery and nothing.
I was in Woolworths today.
They have installed ‘check out’ machines and are teaching customers how to use them…..
….right in front of the people who are about to lose their jobs to these machines.
Slavery.
This guy is cool.
He does some cool chart explanations as well.
http://www.youtube.com/user/endlessmountain#play/all/uploads-all/0/g0MSAZ_iGW4
http://jsmineset.com/2009/09/13/mountain-of-otc-derivative-wmds-waiting-to-explode/
Mountain Of OTC Derivative WMDs Waiting To Explode
Now how much of this $592 trillion OTC derivative market is rotten ?
To follow up on BP drilling for oil in the Gulf of Mexico; El Economista reports that Chavez has also discovered a large oil reservoir in the Caribbean Sea off the western coast of Venezuela. The article is in Spanish. Sorry about that.
El Economista: Chávez se arma para “defender” yacimientos de gas
http://tinyurl.com/or384l
@y’all
I just got the torrent for the lehman ‘docudrama’ will download it…well now….I’m looking forward to it …saw a little clip on a friends telly and there was a bit with some female american trailer trash breaking down the sub prime thingy etc and it looked really good!
Italy Ex-President – CIA And Mossad Ran 9-11 http://tinyurl.com/no9n53
link http://online.barrons.com/article/SB125115029648154985.html
Don’t Carried Away by the Rallies
BTW US interest rates are very high. Most assume otherwise.
Yesss! Back from the living dead!
Osama bin Laden warns Americans in tape: website http://link.reuters.com/gam46d
Haahaa! What a Joke!
Risk-taking Is Back For Banks 1 Year After Crisis http://tinyurl.com/owlnqp
“Senate Finance Committee chairman Max Baucus (D-Mont), a recipient of millions in contributions over his career from the insurance industry, proposes to impose up to a $3,800 fine on Americans who fail to purchase health insurance.”
“It is absurd to mandate that people purchase what they cannot afford and to fine them for failing to do so. A person who cannot pay a health insurance premium cannot pay the fine.
These proposals are like solving the homeless problem by requiring the homeless to purchase a house.” – Paul Craig Roberts
http://vdare.com/roberts/090913_healthcare.htm
Are these the solutions our government will give us on health care?
Elizabeth Warren is what is called a “useful idiot”. A delusional moron who actually thinks bad people are not really bad, just misunderstood. Warren sadly reflects the sentiment of the average person. This naive mentality is why a Tim G can look this woman right in the face, insult her, and she does not even notice it.
Elizabeth Warren is incapable of getting it. The truth would shock her dead. These are the same people who can never believe their own Government would be behind 9-11.
Elizabeth Warren: Why Was Detroit Bailout Treated Differently Than Wall Street Bailout? http://tinyurl.com/qq3j85
I found the Lehman docudrama entertaining, especially the characterizations. No new information is presented. Might be a good reference for people unfamiliar with the banking collapse and it does a fair job presenting securities, CDOs, rating agencies, etc.
@Stephen
Yep, and Lehman had a lot of European investments in it so that was an other good reason.
But someone, maybe in Europe, got very pissed and threatened Paulson (My speculation) and that’s why Paulson was so morivated to ask congress for the $700 bill even to that extend that he was willing to threaten congress with Martial Law.
My speculation is that some of this first $700 bill bailout money (Now total $24+ trill) went to that person or organisation who was in the same or even higher Mafia league.
Gold price may zoom to record Rs 18,000 ($1155) in India http://tinyurl.com/prc84b
@the Lehman stories…
Problem-Reaction-Solution
They created the RE bubble, Made it crash with mark-to-market bean counting regs, and now propose even more governmental meddling to solve the problem they created.
Pure insanity.
Getting sick of this “remember Lehman”, we all know it was a big scam, an example of big time crony capitalism. Lehman was destroyed cause it was the biggest competitor of Goldman Sachs everybody could see that.
Paulson hated Richard Fuld so this was his glorious hatered event having the power to destroy Lehman Brothers. Instead Paulsons head should have been bouncing down the capital steps. Instead Richard Fuld got punched in the face at the gym http://tinyurl.com/4b5lks
But thos MSM and other hypocrits want to make some sort of uninevitable historical moment out of it. Puke on them!
Gold price may zoom to record Rs 18,000 ($1155) in India http://tinyurl.com/kvk9zl
Lehman collapse dramatized. All the key players: Paulson, Fuld, Thain, Lewis, Geithner, Dimon and more.
http://www.wisevid.com/view_video.php?viewkey=mymvtbs0gvvkw0a61616
36% fall in iron ore prices in Sept http://bit.ly/2sORf
Why Warren Buffet is investing in lithium http://bit.ly/3VXEN0 #mkt
“We could have another Lehman Monday,” Niall Ferguson, author of the 2008 book “The Ascent of Money” and a professor of history at Harvard University in Cambridge, Massachusetts, said in an interview. “The system is essentially unchanged, except that post-Lehman, the survivors have ‘too big to fail’ tattooed on their chests.”
From: Lehman Monday Morning Lesson Lost With Obama Regulator-in-Chief http://bit.ly/4kLVFm
@Stacy
Re your ‘Truth About Markets’ comments about the plutocrats. Why there there is all this false outrage over bankers salaries and bonus’ and corruption…
I think its because people actually admire rich people. In Australia, asking people in the street if some people should earn huge salaries, the general response is….
“Good luck to them”. This, especially if your share price is going up.
Now, however, all these shareholders who allowed this to happen in the past are now indignant. Too late guys.
Its like a jealous, admiration thing.
Go figure!
@ frances – I’m gonna plug my field by recommending the following book, which is very readable, and one of my favorite books:
The Pursuit of Loneliness:
http://tinyurl.com/nzatdq
It was written decades ago, but remains very relevant in its critique of American culture.
Phew! Fixed the bonus’ problem.
But hey now base salaries are rising.
These guys are awesome.
http://www.theaustralian.news.com.au/story/0,25197,26069622-12377,00.html
On paper the Us Gov and the Banks are already insolvent. This was proven a year ago when they could not meet their obligations. This was/is being paid for by MC Americans thru unemployment, bankruptcies, falling Real Estate and failing small businesses.
More of that is coming along with higher taxes, fees, fines and assorted revenue gathering methods.
Stiglitz is a NWO mouthpiece. His answer is even more centralization, more control and less Free Market. He advocates using the UN to solve the very problems groups like them CAUSED.
The MESS faced could be solved, yes solved, inside 5 years if this NWO Government would simply retire. Unfortunately they have conned far too many into believing massive centralized government is essential to life.
The answer is to slash Government.
I love the way China are starting to show who’s boss now….
http://www.bloomberg.com/apps/news?pid=20601087&sid=a9igRzOC55wE
They did it to Rio Tinto as well. After Rio screwed them around on a deal they arrested a group of Rio ‘men on the ground’ for spying.
http://news.smh.com.au/breaking-news-world/china-allays-fears-over-rio-tinto-case-20090903-fa25.html
‘Our way or the Highway’
China May Appeal Tire Tariff to WTO http://tinyurl.com/pev2wf
@youri
cool…..cheers, but I won’t breach my own disclaimer…you know stacy is gonna be pissed you said alien!
@Don: Is that you dude??? R u still in Belize?..ooops!!! Hope the CIA/Interpol/MI6 aren’t reading these….Have you found that jungle retreat?? or sunbathing on Ambergris Kay??? Belmopan? Corazol?? or with the Garafunas?? be well
@frances – Sociology.
Mr Supergeek
If you want to get into revelations combined with numerology this Dutch guy is your man. Here just some examples have to scroll trough it further yourself (Google translations from Dutch)
Bible Code: Inclusion in Hebrew year 5770 (2009-2010)
http://tinyurl.com/kljarm
Both Bible, Maya, I-Ching, Web Bot Masonic point to 2012 as
http://tinyurl.com/l7ujrf
UN Security Council President Obama: re fulfillment of biblical prophecy?
http://tinyurl.com/lkvwa5
Disclaimer: I have my own view on the Book of revelations. Been on Pathmos the Greek Island where the Book of Revelations was written by Johane and surely an experience to remember. Met a Alien abducte their as well, crazy but exciting.
@Don
dude! was thinkin about ya earlier hope you are well…hey s’been a while!….brilliant you just made me smile…honest.
More Stiglitz:
http://www.upi.com/Top_News/2009/09/12/UN-panel-wants-new-global-reserve-system/UPI-29071252742787/
http://businessmirror.com.ph/home/top-news/15075-un-not-g-20-should-take-lead-in-crisis.html
The elitist love Paraguay because the Paraguayan’s
1. Have been conditioned for 40 years to accept dictatorial abuse and pedophelia from their heads of state and
2. Paraguayans know that opening your mouth equals a few ounces of lead. Reminds me of an old country western ditty my mother used to sing to me when she was drunk ‘…. “looking for lead in all the wrong places…. looking for lead… dah humna duh ha..” You get the idea.
I spent 9 months down their looking for minerals and I have to say, there were an exceptional amount of, peace cores, and “businessmen” during the time Jenna showed up to do a little land deal.
The vast majority of Paraguayos are, of course, impoverished and live marginally. Predominantly a buy and resale economy with no real production of anything useful to the outside world accept sugar and beef.
@Stephen:
I think Stiglitz is hinting that a US default on sovereign debt is an eventuality. Chapter whatever USA.
“The question then is who is going to finance the U.S. government,” Stiglitz said.
The American Public, duh. The US Government is going to continue eating its own. They will continue the process of eliminating the middles class. You cannot have a NWO with a bunch of MC Americans running around.
@Supergeek:
Honestly, it’s nice to think a Messiah might save us, but I want one that saves everybody, not just hoity-toity Christianeze-speaking better thans.
Like the people walking on Washington recently.
@frances
If you are under the influence of the book of revelations I wiil make an exception…I’m still trying to negotiate the mayan prophesies and decode mikees earlier occult/numerology??? type comments.
@MikeKing:
What happens to gold?
@Supergeek:
I like reading your synopsis of the entries or a video!
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYdgQkXu9eBg
This article from propoganda king Bloomberg show how out of touch the “elite economists” are about what is truly going on. They are all using past education and no utilizing present pertinent information.
The United States is not the one implementing the collapse of the US dollar…Why…. because the United States does not “own” the dollar. The US elite government are simply total colluding partners with the entity controlling the money supply AND THE ENTITY OWN THE US DOLLAR. The us dollar is a business arrangement and “tool” for the entity to use at their discretion as is the country of the United States. Also note, that to the entity controlling the money supply…..their is no alliance to the United States. They are using the United States as a tool and direct assistant to succeed with their far more important agenda of establishing and being at the helm of a new world government.
The entity has absolutely NO intention of saving the dollar. Obama is TOTALLY AWARE OF THIS. Obama is lying to the citizens of the world and in complete partnership to his real employers…. the entity. (Note to Mep….. these are the types of facts you will come to realize after your intense research on the net)
The agenda for more than a decade by the entity is to collapse…. not to fix……..THE “FIX” OF THE US DOLLAR AND THE WORLD ECONOMIES IS THE CON OF THE MILLENIUM.
@youri
I’m kinda open about that kind of stuff….maybe I would say”Disclaimer: not to be read under the influence of the book of revelations” dunno…you and frances have got me thinkin’
Disclaimer: I mean this
Disclaimer: Being cynical here
Disclaimer: Don’t read this
Disclaimer: I wrote this but I actually donnow what I am saying
Disclaimer: Only read this if you are sure your brain is ON today
Disclaimer: Was written in the stars, I only wrote it down for you
Disclaimer: When you finished reading this you will confuse me with some other person
continued:
Disclaimer: The reader has a twist in her underpants.
Disclaimer: Lost my glasses: d now looks like b
Disclaimer: Snoot can’t see down her long snout
Disclaimer: What?
Disclaimer: Snoot shaking in terror from mean Dedo nano-entry followed by Dedoish diabolic laughter
@Youri:
Don’t worry about my idiosyncratic blips: read this:
“The question then is who is going to finance the U.S. government,” Stiglitz said.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aYdgQkXu9eBg
Anyway, all in the family since we’s cuz’s now!
@Frances,…….No shit Sheer luck,…trading as The Ministry of Defence,..
http://www.tpuc.org/content/ministry-defence-company-also-traded-b-i-s-could-be-bank-international-settlements
@frances
‘US does not equal United States…unfortunately that ended four decades ago…all we have now is a whorehouse paid for with third world sweat and tears’
Honestly…I was only saying the same thing about an hour ago…I think next time I meet a nice american I should think of a better chat up line.
@frances snoot
Maybe I have to write a disclaimer under everything I write like:
Disclaimer: I mean this
Disclaimer: Being cynical here
Disclaimer: Don’t read this
Disclaimer: I wrote this but I actually donnow what I am saying
Disclaimer: Only read this if you are sure your brain is ON today
Disclaimer: Was written in the stars, I only wrote it down for you
Disclaimer: When you finished reading this you will confuse me with some other person
@Dedo:
Maybe the bald-headed little man’s name was BIS:
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6184496/Derivatives-still-pose-huge-risk-says-BIS.html
@Mep
What are you getting your grad degree in?
DID ANYONE READ THE BLOOMBERG ARTICLE?
Here’s an example of goons rising up,…
http://www.dailymotion.com/video/x58qnm_army-demo-microwave-weapons_news
US does not equal United States…unfortunately that ended four decades ago…all we have now is a whorehouse paid for with third world sweat and tears.
@ y’all
I’m having a little musical interlude….you know tonto means fool in spanish….I digress…and cue the music…should of dropped some latin grooves on her..
http://www.youtube.com/watch?v=yqVtM1hax7Y
@Mep:
ME TOO!
Regulators are pushing for much of the $592 trillion market in over-the-counter derivatives trades to be moved to clearinghouses which act as the buyer to every seller and seller to every buyer, reducing the risk to the financial system from defaults.
Looks like JP Morgan Chase and Goldman Sachs will keep up their profit margins whilst shuttling risk elsewhere.
Sheila Bair will swoop down on the honest banks to divide the spoils a la Basel ii.
Hotel California in real time…
@ frances – I’m personally good with “global citizens” as long as it means that we all finally rise up, recognize that we’re all being had, and start making our masters fear US.
Is the BIS idea a way to save the too big too fails from the Basel ii hell the rest of the banks are going to get to enjoy?
Seems probable.
Wakey Wakey Eggs and Bakey:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5C6ARW_tSW0
we are so screwed
@Supergeek,……..me thinks you’ve kicked a hornets nest,..lol
@Youri:
It’s beneath you to gloat. Remember, We Are Global Citizens now.
How do you like that, cuz?
@Mr Supergeek
Yeah Baby! Yeaaaahhhhhh! Those 17 million unemployed are just ignorant doom thinking MTFs without any skills. aahaahhaahah!
If you’re good at diggin’ holes,..I’m sure there’s someone who’d give you a banana for it,..if you look hard enough! : )
@mep
cheers all purpose snappy comeback for stupid americans…that is something that won’t lose value.
@Youri:
Yes, and remembering where I put my glasses!
@dedo
I was blown away by the mantra/chant…it seemed too much like “there’s no place like home”
@Mr Supergeek – I’ll be sure to share that info. with my aunt, who lost half of her pension and her health care after her pension was kicked over to the PBGC. Next time you hear someone talking such nonsense, politely ask that person if they have any idea of where the phrase “stupid American” comes from!
while I’m thinking about redundancy and the like ‘off topic’ now that phrase has become redundant round here.
@ Mike – President Obama can make that speech. But it’s sort of weak to make such a speech given the fact that his admin has done absolutely nothing to make sure we still don’t hit GD2 on his watch:
http://www.huffingtonpost.com/2009/09/13/risktaking-is-back-for-ba_n_285069.html
@Supergeek,……yeah, I agree,..plenty of ways to exchange value,..who needs pieces of paper,..unless you ain’t got a bidet,..
@y’all
Off topic…something that is stuck in my mind, I just passed an american women talking to a group of friends and she said “I don’t think recessions matter, if you are good your job u can always find work” yeeeaah…deep…yeah…sorry I can’t think of anything to say just…deep.
@frances snoot
Vitamine C and D3 also very important.
Breaking News!
Obama TV Adress!
Tomorrow Obama is going to tell you how he & his team “Saved America from a 2nd depression:-
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6832953.ece
@Frances,…..scaredy cat!
@youri
Take no notice of the grammer police youri…at least you have an excuse being ….unenglish..or whatnot…me I have full stop issues……………too many or not enuff
Dedo, seriously, nano particles got so scary for me I stopped reading about them last year.
Will world war 3 start over the price of tires?
http://www.nytimes.com/2009/09/14/business/global/14trade.html?hp
@Dedo: really!!!! didn’t know they were filming Mission Impossible IV……Wear lotsa OFF…covert or not mosquitos have no mercy. And pay attention to your cell phone…remember one of the Bush girls had hers stolen while having drinks at a local tavern….and bring lotsa trade items( ipods,iphones, playstation videos and such ) as the black market is thriving in both Paraguay and Uraguay…just some suggestions…
@Frances,….did you read about the nano particles in the vaccines,……could be disastrous in the wrong hands.
Imagine if someone tainted food products with them, or water supplies.
http://globalresearch.ca/index.php?context=va&aid=15092
Geez, Dedo, have you been tippling?
@Stacy,……..I think you can be “butch” if you want to,…
@Frances,…..why’s that then? : )
I think I lost the remote control for my brain as well.
@Dedo:
AND:
He said my thinking is flat, like my brain was run over, and…
I’M A SNOOTY KNOW-IT-ALL-PEASANT! Oh, and I’m retarded or something like mentally poor.
That’s not true, is it?
@Youri; I too am bothered by your recent bad writing. Whatzzup wit dat? Seriously, many of my comments probably sound nonsensical too, so I don’t mean to judge you by your grammar, but people are generally more comfortable talking to those who speak in complete sentences. If English is your second language, please inform us as such. If your real name is Mark Prit*****, believe me, Holloywood ain’t going to be buying these crazy script ideas of yours any time soon.
@Dedo:
HI! Youri wants me to eat cereal: he says it’s good for me, but I don’t get a Toppy Top!
@TU and Richard,……..My team and I will be there,..but we’ll be in covert mode!
@Frances,…..Why’s that then?
@The T U: I’d go..but I hear the mosquitos are as big as B-52s…
He’s probably hanging out with Martin Bormann…BTW isn’t Noriega still incarcerated in Miami a year after his sentence was completed????? Those billions he’s hiding in some Swiss or offshore bank might prove to be a problem if he was released; he might actually back Chavez and the Bank of the South folks….No really where is that English girl kidnapped( missing??) in Portugal??? and maybe eventually Max might get with that whistleblower from the Clearinghouse in Leichtenstein who copied the disc full of US tax haven scofflaws….there are lots of potential interview type flics Max could film….what about the Hadron electron collider…will it create a “mini black hole” on the French/Swiss border???Oh the many mysteries of mankind!!!! What about William Burens exposing the CAFR1 that is an accounting of all state/county/city assets nationwide?????…..Is the next greater threat to mankind the arrival of that meteorite in 2039????? Makes one want to find a cave in the Himalyas and OMMMMMM!!!
@Youri:
I only become disagreeable over bad writing.
@frances snoot
Yeah love all the esoteric stuff knowadays not because I think it’s all true but because it forces you to look at reality in a completely diffirent way and I think that’s an enrichment, that’s true learning.
You never learn if you stay in your own peasant “I know it all” and “that’s rubbish” one dimensional thinking way.
Everybody has remote viewing capabilities but if you dismiss that as nonsense you will stay mentally poor and never will grow.
There should be enough of us on here to go down there and act as body guards. I will go at my own expense. Anyone else?
Ed
Bull market ahead?
“Money manager Henry Weingarten vigorously disagrees. He examines the same economic data as Ms. Cohen, and then looks further afield — much, much further. His conclusion: Saturn will be in opposition to Uranus on Sept. 15, an unusual alignment of the planets that not only happens to coincide with the anniversary of Lehman Brothers’ bankruptcy but also bodes ill for stock market conditions back on Earth.
“Saturn signifies a drop, and Uranus a sudden drop, so I’m concerned,” said Mr. Weingarten, director of the Astrologers Fund in New York. After the two planets were last in opposition on Nov. 4, he said, the Dow Jones industrial average plunged 22% in a bit more than two weeks. While he conceded that studying the movements of planets, stars and other celestial bodies isn’t a foolproof way to figure out the stock market, he insisted that astrological analysis works “80%-plus of the time.”
http://www.pionline.com/article/20090824/REG/908249986
Don’t you love it? Now the staid and stiff are turning to the stars!
Finally some good news, watch the photos
of people protesting last Saturday at
Washington DC (some say 2 million?)
http://www.rense.com/
“The level of unemployment is unacceptably high,” National Economic Council Director Larry Summers said Friday. “And will, by all forecasts, remain unacceptably high for a number of years.”
Larry Summers: High Unemployment for Years to Come http://tinyurl.com/klm9vg
Washington: The ‘Dominant Player’ on Wall Street http://tinyurl.com/op3zhw
The gold industry’s legacy of forward sales is set to all but disappear by next year following the decision by the largest gold miner to buy back its hedges. The size of the industry’s hedge book is set to drop to a residual of less than 200 tonnes by the end of 2010, the lowest in almost 25 years, according to industry estimates. The reduction is a 95 per cent drop from 3,000 tonnes a decade ago.
The mining hedge book is important for gold prices. Bullion rose above $1,000 a troy ounce last week as investors sought refuge from dollar weakness. When miners sell forward their production, they help push down prices. In 1999, their hedge book blew up to more than a year of mine output, flooding the market. Buying back the hedges since then has contributed to higher gold prices. As miners complete the buying back by late 2010, the hedge book will be a neutral force. Miners sold forward their production to ensure a floor price, secure a stable cash flow and raise finance. But as gold prices have steadily increased from $250 in 1999 to more than $1,000 an ounce last week, the incentive has gone.
Barrick Gold, the Canadian-based miner, said last week that it would spend $2.9bn to buy back most of its hedge book, leaving AngloGold Ashanti, the third largest gold miner, as the only remaining top miner with significant forward sales.
Consultants and bankers believe the hedge book is unlikely to drop further beyond 150-200 tonnes because a residual amount of forward selling would be necessary for some miners to raise finance for projects. John Reade, precious metals strategist at UBS in London, said Barrick’s move, “like the bell that rings as cyclists start their final lap, marks the beginning of the end of the global gold miner hedge book”. Barrick said it had decided to buy back its forward sales because of “an increasingly positive outlook on the gold price”. It added: “Global monetary and fiscal reflation will be necessary for years to come, resulting in an increased risk of higher inflation and a future negative impact on the value of global currencies.” Mr Reade said that once Barrick’s buy-back was completed it “will place increasing pressure on AngloGold to follow suit”.
From: Hedging loses its lustre for gold http://bit.ly/pSRMh
@frances snoot
btw AJ has very good guests: Bob Chapman, Max Keiser, Tarpley, Ron Paul and a lot of ocassional guests on Vaccins, “Economical Hitman” and so on…
UK – TUC warn of ‘mass unemployment’
Union leaders have warned that cutting public spending would provoke a “double dip” recession, raise unemployment to over four million and spark the threat of mass industrial action.
… “It also warned that a ten per cent cut in public sector staff would lead to 700,000 workers being laid off.”…
http://uk.news.yahoo.com/4/20090913/tuk-tuc-warn-of-mass-unemployment-dba1618.html
10% means 7 mio. people employed in the public sector.
Didn’t realize there were so many in the UK !
@Youri:
Maybe I just bought the wrong box of cereal?
@Youri:
I will listen to AJ if there is a toppytop in it for me.
@Phil:
OH, East is East, and West is West, and never the twain shall meet,
Till Earth and Sky stand presently at God’s great Judgment Seat;
But there is neither East nor West, Border, nor Breed, nor Birth,
When two strong men stand face to face, tho’ they come from the ends of the earth!
http://www.bartleby.com/246/1129.html
@Youri:
LOL!!!
@phil
no probs! re:clip: Ol’ Walter Huston steals the movie….for once ‘bogey’ had to really act instead of just playing ‘bogey’
@frances snoot … The Chinese leaders have no problem killing their people when and if they become a liability.
25 years ago, I might have agreed with you.
Today , it’s much different IMO.
The Chinese were building Cities the size of Philadelphia EVERY month over the last 10 years !
China will soon be the largest English speaking country on earth soon.
400,000 Engineers graduate each year from Chinese Unis.
Over 200 million Chinese are now Online ( Germany = 35 mio. ).
Do you think they are going to throw all that away without a fight ?
Some 30 years ago, a friend of mine was arrested in China after he walked out of a Hotel and threw his lighted cigar onto the street.
The cigar had been given to him on arrival in the hotel as a “guest of the state” ; the cigar was a “gift from the state”.
It took ca. 1 week to get hi out of prison !
Those days are long gone now IMO !
@frances snoot
I don’t advice people, I am not your daddy, I just give my view. AJ is Toppy Top.
Marc Faber: “The stock market is strong in reaction to a weak dollar” Bloomberg Sept 10 http://tinyurl.com/lukb7u
@Youri:
Your advise to listen to Alex Jones because some of the information is reliable reminds me of buying a box of cereal to get the toy at the bottom. We used to do that as kids: it’s a big waste of money, and the toy always sucked.
@Phil:
The Chinese leaders have no problem killing their people when and if they become a liability.
@Phil:
I think that Russell guy stuck his finger in a light socket.
@frances snoot … “The Chinese leaders want the Chinese people to benefit from any higher prices of the precious metals.” … Really ?
Yes .. really !
Not to do this , risks chaos and destruction .. of their control over the population.
Of course, the Chinese Govt. may ask them to give up their Gold afterwards – for cash – in order to strengthen their currency. Either way … it’s a win-win for the Chinese as a whole IMO !
@youri
good info isn’t the problem….youri, never was.. AJ aint got a monopoy on good info….so I don’t think you could describe not listening to AJ as a loss …oh and judging by the repitition in the links you post I’m not sure you read your own comments let alone other peopes..youri….I said someone mis-read your comments.. I remembered a comment where you thought someone was confused and mistakenly attributed a ’50% of zeitgeist and AJ were crap’ statement to you remember!
Anyway youri as you seem to be heavy on the spin today(mk?)….this is might get sillier than it already is….and as you are the person on this site I am most likely to want to visit, I’m trying to stay on your good side!
Youri:
WHAT DO YOU THINK THOSE G-2O MEETINGS HAVE ALL BEEN ABOUT?
@Mr Supergeek … Bogart .. my favourite actor.
Many thanks for the link !
I read his life story written by Lauren Bacall .. who is currently living and working in London / Theatre work.
A great story .. must read IMO.
Bogey couldn’t stand the typical Hollywood crowd / also tried to help M.Monroe keep away from them.
I’d love to see bogey do a film today on the WS & Govt. crooks. I can just imagine him in an own- character role where he cleans up WS with typical Bogey straight-talk!
@Youri:
The authoritahs will support those who support the politicians who support those who support the bankers who support those who support the central banks who support those who support the BIS.
The media’s job is to keep the general level of confusion going.
The dimensions of The Plan all work in synergy. Every credit based country will comply, and the ones who are’t credit-based have US troops to ensure “general welfare”.
@Phil:
Richard Russell
Dow Theory Letters
written Sep 8, 2009
posted Sep 11, 2009
“The Chinese leaders want the Chinese people to benefit from any higher prices of the precious metals.”
Really?
@frances snoot
Since banksters are their own judge and regulators, are under employed corrupt and will look the other way, like the did, non of this will realy help.
Moreover, this is a confidence crises so nobody trusts nobody and since the café keeper will treat his quest as good as he trust himself this all will do nothing.
@Youri:
I’m looking for some belly-button lint to smoke. The sdr allocations must have been in reference to the basel accord. No more “liquidity” crisis like last time. Everyone ready?
Jump.
@Youri:
Worldwide adoption of Basel ii capital adequacy directives: 01/01/10
http://www.bnamericas.com/news/banking/Banks_to_adopt_Basel_II_in_Jan_2010
The industry continues to actively discuss with the Basel Committee and IOSCO supervisors how best to implement a capital measure for incremental default risk. Accordingly, under the proposed rule, banks would have until January 1, 2010, to develop appropriate methodologies to measure this risk.
http://www.federalreserve.gov/newsevents/speech/bies20070226a.htm
http://www.bis.org/review/r070116e.pdf
Just google:
basel ii requirements worldwide application january 1 2010
Most of the information is in PDF form.
01/01/10 Do you realize that is binary and the same in English dating and American?
@frances snoot
So what are the accounting rules now?
Booking debts as profits, stocks are worthy what bankers say they are worthy, off balance debts -completely legal, Kiekeboe accounting, unlimited press printing and so on and so forth…
Yeah, we surely gotto follow that.
@Fibon11235: Frankly, I have been discussing this topic in another way: When will the bond agencies downgrade any of the individual country AAA ratings??? today, I heard that Japan debt ratio approaches 180% GDP to debt ratio!!! The US is something like 67:1 Britain is 80:1 and the EU is 75:1…Clearly these statistics are well below the actual numbers as unemployment continues; and the wheels generating a positive agenda is stalled…Your POV is that 1/10/10 is an important date as well as 9/30/09 when I propose that when the fiscal year ends here the data will demonstrate insolvency across the board in the public and private sector…The Basel II accounting rules most likely will either be ignored or modified. By then the BIS will realize the numbers won’t compute. Actions are being taken as we write/type to forestall the collapse scenario…yet we all know that day is more likely in our future than any recovery…it is most certainly a coverup….not a recovery….The other day a CPA from NY sent me a modifies NYS tax for commuters (a carbon footprint tax???in addition to the exorbitant taxes paid as auto sales or tolls or insurance or road tax, or registration and titling). All the data that is exposed here and on the web by others clearly sends the message that a cabal is in charge and the free enterprise system that was the pinnacle of mankind’s economic grandeur is cascading away from us…
Still talking about Accounting rules as if that would matter now.
The accounting rules and the need for people to follow them are what is driving the power vector at present.
You can threaten gold with forthcoming central bank sales, you can sell gold in quantity, you can smother gold with short sales, but the primary trend of gold will win out…We’re riding the bull…
http://www.321gold.com/editorials/russell/russell091109.html
@Phil:
WELL, YEEHAW. Guns, gold, guts, and glory–the patriot rides the bull.
The question is not who owns the gold: the question is who owns the dollar.
@Mr Supergeek
I never did complain about people reading my comments you realy got me confused with somebody else here.
I think I am actually the only one reading all the bloody comments.
If you don’t want to listen to AJ, Your bet! I am just saying it’s silly cause he has so much good info.
@phil
reminds me of fun little a clip I put up on forum a couple of months ago.
http://www.youtube.com/watch?v=boUD5eG9Bf4
@Youri Carma .. 100% !
I would really love to know what the real volume is on the NYSE ( ex-GS_HFT that is ).
I can hardly bring myself to make any trade – Long or Short – simply because the whole game is rigged ! .. since 2000 it’s just gotten silly !
America is cooking it’s books, China is doing so as well and Europe is doing the same cause the US is doing it. Stockmarket is a dog and pony show. Real economical growth in China probably 3.5-4% tops.
Still talking about Accounting rules as if that would matter now. Bankers partieing and getting drunk waiting for the mob to pick them up and let them bodyswing.
Meanwhile absolutely notin changes while we fall of a cliff with sometimes hitting a rock slowing the fall a little. Newspapers talking about notin “Oeehhh what a shame somebody is partieing in Madoffs house.” Protests not about what realy is going on bud about side issues. People are still stupid history will take it’s course and helter skelter coming.
Interesting food for thought – the Fed’s current massive leverage would look meagre if its major asset base were revalued by 20 to 1 or more.
This interview, from late 2008, might add some spice to the debate……..
http://www.investorvillage.com/iv2/smbd.asp?mb=144&mn=30190&pt=msg&mid=7898535
Ken Lay in Paraguay? Interesting that George Bush Sr reportedly
owns a lot of land there:
http://www.thepowerhour.com/news2/bush_paraguay.htm
October 15, 2006
US President Bush Makes Massive Land Purchase In Paraguay Ahead Of Expected War Crimes Charges
By: Sorcha Faal, and as reported to her Western Subscribers
http://www.whatdoesitmean.com/index955.htm
Russian Intelligence Analysts are reporting today that the American President’s daughter, Jenna Bush, has secured on behalf of her father, the American President, and the Bush Family, the purchase of nearly 100,000 acres of land in the South American Nation of Paraguay, and which is also confirmed by the Latin American News Service, and as we can read as reported in their article titled “Bush Buys Land in Northern Paraguay”, and which says:…
A nice read for the Goldbugs :
.. ” You can’t create wealth out of a computer — you create wealth from the sweat, intelligence and risk-taking of men. Gold comes from a gold mine. A gold mine represents the expenditure of capital, risk-taking, the sweat of hundreds of men — and courage. A gold mine’s product, gold, has represented timeless wealth since Biblical times. No central bank has ever produced a single ounce of gold. Nor has any central bank ever produced a single element of true, sustainable wealth.
In their heart of hearts, men know this. Which is why, in experiment after experiment with fiat money, gold has always turned out to be “the last man standing.” ” …
A light goes on in Russell’s brain
Richard Russell
Dow Theory Letters
written Sep 8, 2009
posted Sep 11, 2009
http://www.321gold.com/editorials/russell/russell091109.html
@Stacy
btw Bonnie & Clyde was during the great depression so couldn’t think of any better match.
Satcy Herbert (October 1, 1910 – May 23, 1934) and Max Barrow (March 24, 1909 – May 23, 1934) were well known economical presentators, funmakers, and mobs who, with their gang, traveled Europe during the Great Depression. Their exploits were known nationwide. They captured the attention of the American press and its readership during what is sometimes referred to as the “public enemy era” between 1931 and 1934. Though their gang was notorious for their bank robberies, Max preferred to rob big banks or Peak oil stations. The gang was believed to have robbed at least nine big bankers of their dignity and committed several other hate crimes by several other banker being pissed off.
September 13, 2009
Obama Assassination Plot Fails As Full Terror Alert Hits North America
By: Sorcha Faal, and as reported to her Western Subscribers
Russian Intelligence Analysts are reporting to Prime Minister Putin today that rogue US “intelligence” forces have failed in attempting to assassinate President Obama while his motorcade was in route to the White House from the Pentagon where he had joined with top American Military Officers in remembering the events of September 11, 2001, and is being called the “Panic on the Potomac” affair.
Making this horrendous plot against Obama even more abominable was the propaganda American news media “immediately” censoring this attack against their President so as not to alarm their citizens, an action eerily reminiscent of the Nazi German news media who, likewise, censored the many assassination plots against Chancellor Hitler, especially those occurring in 1933 which even today remain illegal in Germany to publish accounts of.
According to a report on this plot prepared for Putin by General Shlyakhturov of the Main Intelligence Directorate (GRU) of the Russian General Staff, Obama’s motorcade was targeted by a “disguised” pleasure boat on the Potomac River which was being remotely controlled and set to explode under the I-395 bridge the American President and his security personnel were crossing in route back to the White House.
Upon this boat nearing the I-395 Bridge however it was “challenged” by United States Coast Guard and Secret Service crafts and upon its “failure to respond or alter its course” was immediately fired upon while at the same time US Marine EA-18G Growler electronic warfare aircraft protecting Obama’s motorcade blocked all radio frequencies resulting in the failure of the explosives to detonate.
These reports further detail that these rogue “intelligence” plotters are now intensifying their attacks against North America’s vital yet fragile energy infrastructure as the US and Canada go on “full alert” after yet another attack upon the critical natural gas pipelines running to the United States from its northern neighbor, the latest occurring on the TransCanada natural-gas pipeline in northern Ontario which last night exploded in what is being described as a “devastating” fireball.
This bombing marks the seventh such attack of its kind this year and which Canadian Oil Company EnCana has offered a reward of $1 Million in what they say is the “largest bounty” ever offered in all of that Nation’s history.
These GRU reports further state that the “forces” behind the bombings of the Canadian pipelines are also the “masterminds” of the catastrophic bombings of the giant Sunoco petrol complex in Delaware (the second largest petrol refinery in the entire US Northeast) and the Marcus Hook Sunoco refinery in Pennsylvania on May 17th of this year.
Of the many causes behind these deadly clashes among the West’s elite power blocs, these reports continue, is the looming deadline the United States is facing as it nears the end of its fiscal year on September 30th. And with its deficit at a staggering $1.38 Trillion through the end of August, along with nearly 100 of its major banks already driven into insolvency, many of the World’s economists are warning the US Dollar is nearing collapse, and with its demise so will go the American Nation.
Unfortunately for the American people, and just like last years titanic collapse of the entire Western backed Global banking system, they are being left to suffer the most as new reports from that country are showing that their top business leaders are bailing out of their stock markets in what is being described as an “orgy of insider selling”.
One of America’s most respected authorities on the Global economic crisis, Bill Bonner, in his September 11th article titled “The Destruction of the US Empire” sums up better than most the plight of these witless Americans by stating:
“[The American] people who count on the government to feed them, warned Jefferson, “will soon want bread.” That doesn’t seem to worry many people. But at least the state of Maryland has an Orwellian sense of humor about it. People who depend on government for food are given “Independence” cards.”
In what these reports state was a “quick retaliation” against the Globalists, Obama struck back “straight into the heart” of the New World Order factions attempting to bring him down by launching a trade war against the largest holder of US debt, China, by restricting the that Communist Nation’s ability to sell tires and steel pipe in the United States, a move that Chinese Ministry of Commerce spokesman, Yao Jian, warned could spark a “chain reaction of trade protectionist measures that could slow the current pace of revival in the world economy”.
But, Russian economists warn that Obama has neither choice or leverage as “economic doomsday” approaches for the United States as no one in the World is able, or inclined to, buy their Trillions of Dollars of debt backed by nothing more than the printing presses working overtime at the US Treasury making soon to be worthless US Dollars.
Also to be noted in all of these events is this week’s return of the much feared intense opposition between Saturn and Uranus which last year saw the Great Global Banking Collapse of 2008 and the shock election of Obama to the US Presidency and had last occurred during the most tumultuous periods of the last century, including the violent social and economic upheavals of the 1920’s, as well as the overturning of the Old World Order in the 1960’s.
As to the fate of Obama as he, like the rest of us, endures the many trials of these treacherous times, yet another fearful warning has come his way from none other than a 6-year-old boy named Oliver who is known as “Colombia’s Nostradamus Child” and is predicting that another, and perhaps fatal, attempt will be made upon the US Presidents life in the coming few weeks.
Not just for the young American President, but for the entire World, we can only pray that this is one prediction that doesn’t come true. Beyond a shadow of a doubt, the last thing anyone needs is more madness in the insane asylum named Planet Earth.
© September 13, 2009 EU and US all rights reserved
@Stacy
Bonnie & Clyde? Otherwise I havn’t the faintest idea what your talking about?
@frances snoot
I didn’t say gold and inflation should have a relation. If people are stupid enough to not buy gold.
About Work Productivety: Research has shown that if you let people work to many hours the productivety goes down.
About the ME: Somehow people think that in the Middle Ages people where very little. Not True: People got realy little in the 19th Century with the growth of big cities bad hygiene and a lot of diseases easy spreading and of cause the Industrial Revolution which draw people into these dirty cties.
@Mike King
Indeed took your remark about AP out of context but gave a good oppurtunity to make my story which was actually mend for someone else.
@ Max and Stacy
Like your pirate site very good
Der Spiegel – International
In English !
New York Faces Dramatic Consequences of Crisis
http://www.spiegel.de/international/world/0,1518,648448,00.html
http://www.spiegel.de/international/world/0,1518,648448-2,00.html
http://www.spiegel.de/international/world/0,1518,648448-3,00.html
http://www.spiegel.de/international/world/0,1518,648448-4,00.html
@s.herbert
butch and ….to some you will always be bonnie and clyde whether you say! PS cheers for the ‘bankers/cabal’ statement…I’m sure it won’t be the last time you will have cause to etc.
@scott…surrounded by…’we’ don’t all hate americans we thought you hated us.
@ #2 always wth the sex pistols…who is your second fave pop group.
@Yahl…max explains how the ‘puts’ work on 12-09-09 I gotta say again…it was brilliant really clear and concise.
@youri….complaining one day coz people dont read your comments properly or confusing you with someone else…Now look who has caught the bug if you are gonna respond to people at least take the time to go back and read what they wrote….I never had that much respect for AJ and I have even less now but, I don’t discount the chance he might come up with something worthwhile now and again….where as the silly ‘everything he says is documented’ line you keep spouting…means nothing, if he messes up his reputation with some bogusness I’m sure you and his other fans will choose to not talk about it or try and put some spin on it eg: charlie sheen.
Right, I am off to watch Butch Cassidy & the Sundance Kid tonight. Give me some inspiration.
@Danny … 1970′s .. just reminded me of INFLATION !
I remember getting a flight from Belfast to London for just 3.50 GBP .. including a damn good meal ( for a hungry student ) !
How times have changed !
Phil
Hi, no Am old but not that old……………..however ido recall them getting very PISSED with the Sex Pistols.
Mike
@Danny .. has it changed since 1970 then ?
I used to work as a waiter in the famous Kelly’s Hotel in Portrush ( Ireland ) Fri/Sat during my student days.
The police would knock on the door at 10 pm. to close the doors. We’d let them in – close the doors – and carry on drinking with them until 04 am !
PS:
In those days, County Antrim had only 1 police car !
@Phil
Irish pubs opening at 10.00am is a conspiracy theory…
@@ ALL @@ Obama Speech Monday
Has anyone got any ideas on this ?
e.g. MAJOR or major ?
@Stacy – how about this Irish priest look?
Normal … especially after 10 am !
( Irish pubs open at 10:00 am )
@FranSix – how about this Irish priest look?
http://img243.imageshack.us/img243/5995/fatherjackto7.jpg
Moustache and a hat.
Better yet, dress up and act as an old man. Try it now.
Coincidence Theory :
DJIA closes on…
September 11, 2001 at 9,605.51
September 11, 2009 at 9,605.41
GS playing jokes ?
Okay, we are at 17% funded! Anyone else have suggestions for a disguise?
The million plus march on Washington was not primarily about health care reform. It was about general distrust and a complete lack of faith that government acts in any way that is beneficial to the people they were elected to represent.
It seems that the MSM is doing a good job of skewing the message of the popular revolt by the Tea Party and are attempting to portray this march as all about anti health care reform. Sure, like any large group a variety of opinions exist and some of the Tea Party protesters (a majority? who knows) distrust the health care reform bill. However, the Tea Party movement began long before health care was the hot topic.
http://uslibertyjournal.blogspot.com/2009/09/million-mob-march.html
@Dedo – good question; I think maybe I am more like Butch? What do you think?
http://www.businessinsider.com/citi-no-obvious-relationship-between-gold-and-inflation-2009-9
@Youri: thought you would find this article of interest.
Fibon11235 … ” the solution for Max and Stacy here. ”
LOL … damn good find … the disguise-pictures were really good .. Max in drag ??
I like the watchCam … just a tad bit too expensive for “just for fun” !
I’ll check out Ebay for a cheaper one !
Here .. only 64 UR.owes – I mean Euros !
http://cgi.ebay.de/8GB-2M-Pix-Spy-Watch-Video-Camcorder-Recorder-Camera-GE_W0QQitemZ350250336095QQcmdZViewItemQQptZDE_TV_Video_Elektronik_Videorecorder?hash=item518c8bff5f&_trksid=p3286.c0.m14
Model : 8GB 2M Pix Spy Watch Video Camcorder Recorder Camera
Memory : 8GB Built-In Memory
Video : AVI
Video Encoding : M-JPEG
Video Resolution : 640 * 480 VGA
Video Frame Rate : 30 FPS
Picture Pixels : 2M Pix 1600 * 1200
Picture Format : JPG
Supporting System : Windows ME/2000/XP/2003/VISTA/MAC O/S/Linux
USB Interface : USB2.0
Working Time : About 70 minutes
Charger : With (IC) charger which will not affect the battery life when charging
Warranty : 1 Year
@Stacy,…..You butch,..or the kid?
@Fibon11235 – ah, don’t worry about us; better to go out like Butch Cassidy & the Sundance Kid . . . then someone here can make a movie about us!
Banks will still have to move the assets back on to their books on Jan. 1, 2010, but regulators want feedback on the impact of the accounting change and whether it might be prudent to phase in the risk-weighted capital that must be held against the assets.
Why isn’t anyone talking about this? This is armageddon!
@ Phil I have the solution for Max and Stacy here. Look at the last linc past my joke you may be interested in this.
Disguise as we don’t want them shot.
http://thechive.com/2008/12/master-of-disguise-34-photos/
Im going to feel bad now if anything happens. Shave your head and grow a grey beard.
http://www.worldbeardchampionships.com/
I have travelled alot and everything is ok until something happens.
Dress like a bumb with no video equipment.
SERIOUSLY now
http://www.brickhousesecurity.com/hidden-camera-spy-watch.html
I got one of these for someone of ebay ill find the details and 4GB
the pics vid is amassing I think its 2 hrs of video…and you dont really know… sounds ok too.
£30 / $40 no more and was here within a week from a tower block in China lol
January 1 2010: Now that’s a date:
http://www.reuters.com/article/marketsNews/idINN1946918220090819?rpc=44
Come on people buy some copies. I am in for 10 copies myself and would buy more if I could. This is too good of a story to pass up.
PS Max> When you go, make sure you locate the Bush property down there. That would be my guess as to location of this Financial Terrorist.
Ed
@Frances,..Sharon’s gone on a rescue mission,.not really her cup of tea (she prefers “wet” work),…over and out
@Dedo:
I see your Ace and raise you ten:
http://www.reuters.com/article/reutersEdge/idUSTRE5871PZ20090908
@Dedo:
nice link…
Have you been playing coy?
@Dedo:
He’s too big: wouldn’t fit behind the screen. Gotta keep looking. Maybe we should enlist Sharon for the search, or is she on another mission?
@Frances,……that guy looks like he’s been punched in the nose,..: )
As stated back in 2003,..
The main point made here is that Basel II creates an uneven playing field for the large, but not the largest banks in the U.S.
http://financialservices.house.gov/media/pdf/061903bg.pdf
@Dedo:
Nope. that guy has hair…
Here’s a nasty number:
http://cache.boston.com/resize/bonzai-fba/Globe_Photo/2009/03/11/1236822680_3396/539w.jpg
OH, the US Treasury. While Geithner follies about, Mr. Bailey works hard with the BIS:
http://www.occ.treas.gov/ftp/biographies/bailey_kevin.pdf
@Frances,……I can almost see you busying away trying to find that little guy with the bald head (not that all little guys with bald heads are devious: )
I@m of the same opinion, there so much distraction going on, it’s a good challenge to find him.
Ever heard of the Basel Committee?
http://www.bis.org/bcbs/
course not
@Dedo:
It is like the Plato cave link you provided. While the press and the politicos concentrate on the shadows, we common folk only see the play of gray. That was what I meant by a confluence of grey. The real action is taking place in the structuring of a new scaffolding for the architecture of the 21century. The blueprint for the operation is basel ii.
That is why I call the Patriot movement a joke. The actions of the people are directed at rubbing otf shadows. End the Fed? What will the people do without a currency? Have the Patriots worked out that end of the scenerio yet?
It is run ahead without one’s head.
@LukeOut – I think he’s at Bush ranch bought in northern Paraguay the month Kenny Boy ‘died’
Basel II took years to produce a camel when what they wanted was a horse, but implementation requires specifics which spark fierce battles among those affected.
http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article6812286.ece
Came across this in the Korea Times.
http://www.koreatimes.co.kr/www/news/opinon/2009/09/195_51728.html
@Dedo:
The point being: the BIS allowed the sovereign nations to deregulate then voted on a banking capital regulation that the ECB put into effect in January 2007. The resulting chaos was driven by the liquidity crisis emanating from the European banks. We bailed them out.
Now it’s time for more fun.
http://www.marketsmediaonline.com/news_detailsSec.htm?PHPSESSID=ac551f5c16a1f0ac997c5007e961e867&wP=1&wPI=1&cN=4369&ed=0&vF=
Will Basel Rules Straitjacket Banks?
More stringent capital and liquidity requirements could handcuff banks unless they’re handled with precision, Dan Borge, director at LECG, told Markets Media.
“Higher capital and liquidity may make banks safer but it will also make it harder for them to lend in support of economic growth,” Borge said. “That’s why the regulators will phase this in over time and why they want some counter cyclical flexibility to smooth out the peaks and troughs of lending. “
The Basel Committee on Banking Supervision will issue concrete proposals on these measures by the end of the year. It will carry out an impact assessment at the beginning of next year, with calibration of the new requirements to be completed by the end of 2010.
Any inaccuracies could wipe out the nascent economic recovery. “The economy is an extremely complex, interactive system in which small errors can cascade into large disasters,” said Borge. “Counter cyclical tinkering is an unproven concept – if badly done, it could amplify cycles not dampen them.”
A big question is how much will be lost or mangled in the negotiations on the specific requirements. “So far, we have little but high-minded platitudes that are easy for all the regulators to agree with,” Borge said. “Basel II took years to produce a camel when what they wanted was a horse, but implementation requires specifics which spark fierce battles among those affected. “
Supervisors would do well to implement Basel II rules as best they can and use their on-site supervisory exams to catch things that the formulas miss.
“It is odd that the regulators want to fix the loopholes of the Basel II formula by layering on a simple leverage ratio that has vastly more loopholes,” said Borge.
The key to safer and healthier banks is quality of management, not regulatory formulas, he said. The CEO and board must be alert to risks and actively involved in the risk governance of the bank. A careful review of managers’ and directors’ behavior and attitudes can tell regulators if the bank’s leadership is up to the task of managing risks successfully. If they are not, the rulebook won’t make much difference.
The Basel Committee asserts that compensation systems should not encourage excessive risk taking”. But most banks, even now, lack adequate enterprise risk management capabilities that would allow them to identify, monitor and limit the risks that people are taking in their bank. “Reckless behavior thrives on risks that can be hidden from customers, management or the board,” said Borge. “If you can’t see your risks or where they are coming from, how can you prove that a given compensation scheme makes things better or worse?”
Borge’s recommendation: “First, fix your risk management, then fix your compensation formulas.”
—
Posted on Sept. 11, 2009
@Frances,…Liquidity crisis,..have a word!!
Bank definition: An institution that has government authority to usurp
the wealth of a nation.
Liquidity,..LIQUIDITY,…!!!! AAAHHHHHH
Woohoo! Where’s Kenny Boy? is 14% funded. We have no budget for ex-intelligence bodyguards baby; it’s just me, Max and Kenny (and the US military surrounding him)!
Separately, French Economy Minister, Christine Lagarde, said a ‘good and sound’ explanation of what Basel II is about was needed among the G20 finance ministers.
‘It has been significantly improved, amended over time to take into account the… liquidity principle that was not part of the Basel II solution,’ Lagarde told reporters on the sidelines of the G20 meeting.
A revised Basel II would ensure banks have sufficient capital, she said.
http://www.forbes.com/feeds/afx/2009/09/04/afx6850132.html
You mean to say it was a liquidity crisis all along?
Basel ii US set to be online 2010:
http://online.wsj.com/article/BT-CO-20090905-701073.html
Time to sweep up Humpty Dumpty and put his out with the trash.
Final shot on Barrick.
We are all aware that the commercial banking sector is front running trades using liquidity programmes, and told in advance when gold is being sold on the open market by central banks, and may be in the know about results of government bond market sales and act accordingly. Barrick would be in the know, as an insider.
Barrick would need to liquify its off balance sheet derivatives, (euphemistically referred to as hedges) going forward by providing a billion in additional capital. 10X cash flow is 80 billion, but could be on the hook for so much more if the gold price advanced spectacularily.
Derivatives contracts are good for decades and are not just agreements between two counterparties, but are a network of pyramided junk bond schemes, so no portion of the network may default on their decision. You can get any amount of money you want through Credit Derivative Obligations, but may never be able to pay it.
Barrick is in the know, so I would look for increases in productivity and increases in cash costs as they attempt to work off the weight. Don’t forget miners are resourceful and can adjust just about every aspect of their business to the balance sheet.
Their copper production was hedged, yes really, so any decline in the price will make the company look good. They may still be able to mine for quite some time, though their large copper/gold projects may fall sub-economic. They mostly mine copper, since the biggest projects are actually copper deposits.
Now about China. The Chinese banking sector relies heavily on purchases of foreign debt, because their own bond market is non-existant. So if, say, they got stuck with overpriced copper and want to renege on their obligations, then their whole banking sector will collapse, as nobody would want to deal with a bunch of gap-toothed maoist sheisters.
http://www.youtube.com/watch?v=7cPb45tzgdQ
don’t forget that i giving away 100% of any of the pirate yield from ads attached to pirate copies to the premium copy holders who helped finance the film: it breaks down like this;
Estimated Returns Per Premium Copy
1. Pirate Yield
* Return per premium copy per $100000 ad revenue: $83.33 per each $5 premium copy
* Breakeven Point:$6000 Ad Revenue
* Producer return per pirated copy per $100000 ad revenue $0.00
2. Other Sources Of Revenue
* Return per permium copy per per 100000 retailed copies (Assuming $5 per copy): $416.67 per each $5 Premium Copu
* Breakeven Point1200 Copies
* Producer return per 100000 retailed copies (Assuming $5 per copy):
@Addison Wiggin on the founding of Agora, the Empire of Debt and the Agora outlook: Deflation now, inflation later
http://www.thedailybell.com/518/Addison-Wiggin-Empire-of-Debt-Deflation-now-inflation-later.html
A few snippets :
Daily Bell: Do we need to return to a gold standard?
Addison Wiggin: The gold standard of the Victorian era England provided the longest period of relative peace and free trade in human history. During that time the percentage of world GDP derived from global trade reached it’s peak. Even higher than the modern period of globalization we just passed through. We don’t necessarily need to “return” to the gold standard, but we do need to move forward to a stable reserve currency that isn’t susceptible to policy shenanigans and manipulation by central banks.
Daily Bell: What do people need to do to protect themselves?
Addison Wiggin: During inflationary periods, precious metals and natural resources are a good place to put your money. But timing is everything. And as we learned last year, these markets are susceptible to massive speculation just as much as the stock, tech or mortgage markets turned out to be. In fact, in 2008, we became the first generation in human history to experience what the late economist Ludwig van Mises described as a “crack-up boom”, world-wide. We cover that event fairly extensively in the second edition of Financial Reckoning Day (Fallout)… in stores now.
Addison Wiggin:
…
But I’d also encourage readers to keep up with daily analysis of the stock markets through the 5 Min. Forecast and the Rude Awakening, (Agora Financial’s Executive Series of e-mails) at
http://www.agorafinancial.com
Gold @ $10,000 ?
John Browne discusses the Obama administration’s policies of ‘change’ and much more …
Issue 239 • Saturday, March 28, 2009
… ” John Browne: In today’s highly volatile and uncertain world that is increasingly controlled by big government, predictions of price have become foolhardy. Suffice it to say that Gold has three main influences on its price. It is priced as an ‘industrial commodity’. As such, its price should fall in recession. It is also a ‘store of wealth’ against inflation. With coming inflation or stagflation its price should rise. Gold is also priced as an ‘insurance’ against panic over war, civil breakdown and economic or financial meltdown. In the meantime, Western politicians have, for the past 40 years, tried; by manipulating the so-called ‘free’ market price, to make the gold price follow a highly volatile but downward path. They have tried to ‘demonetize’ the metal by making it appear as an imprudent investment. Given my view of the future economic, political and financial catastrophe that faces us, I see the price of gold exploding. To what price is anyone’s guess? I could see it priced at $2,000, $5,000, or even $10,000 an ounce, given the tens of trillions of unearned fiat money now being injected into the economies of the world and depending on how badly things fly out of hand. ” …
http://thedailybell.com/bellPage.asp?nid=338&fl=
@Denninger ..
Debt Outstanding, GDP and Income: Who Are They Fooling?
http://www.youtube.com/watch?v=8sEnz54ZyX8
Addison Wiggin on the founding of Agora, the Empire of Debt and the Agora outlook: Deflation now, inflation later
http://www.thedailybell.com/518/Addison-Wiggin-Empire-of-Debt-Deflation-now-inflation-later.html
@Stacy
Ken is in Uruguay!!
@Mike/Liverpool .. morning Mike !
Are you old enough to remember the Miner’s Strike – Scargill & Edward Heath ?
The London Magazine “Time Out” have away a free vinyl-single with the tune “Twist & Shout” about Edward Heath.
It was the rage and was played everywhere on radio etc.
Really funny !
I wonder if “Time Out” will do something like that again for Gordon Brown this time ?
Mean while, bad in Blighty:-
http://news.bbc.co.uk/1/hi/uk_politics/8252966.stm
Brown is warning the unions NOT to repeat the “Winter if discontent” in 1979 that killed off any chance of the Labour goverment win that year.
Mike
@Comment added by maxkeiser :
“The story that dares to be told. Al Jazeera English told us that we needed at least 3 body guards if we wanted to do this.”
Especially as Max’s face is no secret these days !
Where’s Dedo and Sharon .. maybe they can organize something ? … if you “do” find him , it could then get very dangerous indeed.
Suggest you take a GPS mobile with Internet-Upload for the Video in RealTime … at least we can then call the police if the PTB grab you !
