Stacy Summary: Thanks for this link @gonzomarx! Re: neo-feudal mafia state – I officially rest my case. Here is the proof. And who wants to bet me £100 there is not one street protest by the taxpayer being ‘forced’ to bailout the oligarchs.
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ref. max keiser & Get 6 mo’s free storage
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Rick Ackerman-
- King World News
- Mish
- Violent Protests in Greece; 6 Cabinet Members Resign; LAOS leader "I Would Rather Starve Than be Under German Jackboot"; Controversy Over Missing Paragraphs
- Merkel's Official Denial "I will have no part in forcing Greece out of the euro"; Schäuble Starts Salami Tactics on German Participation, Calls for Vote
- Karl Denninger – Market Ticker
- Michael Hudson
- ZeroHedge
- The Big Picture
crash banksters – Buy Silver & gold
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
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Most recent: 
@Mike King: thanx for the response…the “entity”?????? WoW….so it’s monolithic????? Everyone is joined at the hip??? I’d luv to point the fickled finger of fate and link all the “evil ones” into one camp…but really Mike I’m in real time listening to C. A. Fitts on rense radio program….she points out that we have two choices: play the sucker and stay and play or leave quietly..hope you are making your plans..
Is the dollar going up to match your predicted decline in the spot gold price in an hour and a half??? In the past these entities moved in tandem…
the current determining price of gold has nothing to do with the dollar and everything to do with where the entity wants it. Also…..
The first time gold went to a thousand more than a year ago…..it was put there deliberately for the purpose to promote the opening and approval of countless gold ETF funds worldwide for the benefit of utilizing the money invested by the entity. Gold is under COMPLETE control for the purpose of agenda and nothing more. Gold price and its total control by the entity is a tool….. owned by them for the purpose of agenda. The only difficlulty by the entity in its control is the floor price created by the physical market in avoiding comex default. The entity is extremely powerful and controls so many aspects to ensure its power over gold that preventing the comex from default is probably not a real concern for them.
I have been buying my “gold” with government dollars (food stamps). Every time I go to the grocery, I buy a few extra non-perishables for the pantry. If the whole system goes belly up, you folks can at least show up to my place for a plate of rice and beans. I call it “investing 101, for the poor.”
Why do I get food stamps? Unemployment> illness> bankruptcy> death of spouse. A long and unpleasant story, but far too common in the US. If a family member develops a chronic illness, the family often goes broke. If it is a spouse, and they die after a long illness, there are often no liquid assets left. Last note: he worked for WorldCom… ‘nuf said.
This is one of the reasons folk don’t rise up in the UK,..
http://www.youtube.com/watch?v=aETAPlXAT-w&feature=related
Using the UK Freedom of Info Act: courses for new & experienced requesters
http://bit.ly/1665Gg
@Mike King: Before we go any further today…I want you to know I admire your ferocity….I truly do…I too realize there are numerous levels of “controllers” hiding behind the curtain…so to speak…but what “factors” are you referring to???
Sarkozy, Stiglitz & capitalism’s inherent contradictions
http://tinyurl.com/l6cm8z
“The divide between how citizens experience their situation and how it is presented centrally is destroying democracy, Sarkozy went on to say and said added that people believe that they are being lied to – and they are not entirely wrong to believe so”
seems like the French pre-plan for Pittsburgh G20
@Richard,…..do tell !
@Dedo; yeh me too….oh BTW I’m bulletproof..just ask my deceased mum…
@richard…. gold price has nothing to do with those factors… you are behind the curve.
@Dedo:
oops
my wild west lingo is not up to snuff
STAND DOWN ELSE I PUT A CAP IN YOUR *SS.
How’s that?
@Frances,…..I think the expression is,…ah hum,…..
“bust a cap in yow ass”,……
LOL . . . grassroots debtors revolt, anyone?
http://www.huffingtonpost.com/2009/09/14/debtors-revolt-woman-refu_n_285394.html
@WL,……great link,..schiff explains it as it is, as per usual.
REAL economics, not plastic economiX,..
@Richard@Latitude30N:
Watch out, steady, draw…fore Mike puts a CAP on you!
http://www.youtube.com/watch?v=s2vukzl1INo
A couple of astroturfers?
As Max has often cried (paraphrasing): “RISE UP! Where is the outrage? WAKE UP PEOPLE”.
Well, much of the US MSM has reported the march of “thousands” on the capitol. Also, it was reputedly about health care. Take a look at these photos. Do most of them depict health care? Are there thousands present? The non-domestic media got it right . . . it’s well over a million and possibly over two million.
http://whatreallyhappened.com/WRHARTICLES/readerphotosfromDCprotest.html
@Mike King: 11:00 AM kitco.com gold spot price”
http://www.kitco.com/charts/livegold.html
In case you have not heard it, the Peter Schiff inflation argument in detail. Basically, since the ability to create money is infinite, no deflation. However, if gold is used as the monetary baseline then deflation is the valid argument. So, deflation in gold terms and inflation in $$ terms.
http://www.netcastdaily.com/broadcast/fsn2009-0912-3b.mp3
Just look at the pressure building up all over…
That means quick change boom if this theory is correct.
It feels correct to me, does it to you?
No proof of recession in Amsterdam, Netherlands? I recently returned from amsterdam. Ask any hotel,restaurant,bar,etc employee there (they all speak english better than americans). They will tell you everything is down 30-40%. But the dutch are wealthy people and attract massive tourism so they may not feel the pain as much.
@Stacy I would not worry about the UK were just a pile of poo r polices lol oops
Talk about appealing to Incompleteness, the equilibrium with China will happen for the posh people too, why?
Have you ever seen the CV / Resume of out MPs they just have to go to the right schools and to that blasted Oxford and Cambridge lobotomy centre par excellence.
They do not seem to have anything special about them at all, its shocking. They don’t do much other than right for a newspaper and do some research and join the right club following the right school.
MY PREDICTION
Punctuated Evolution for the UK Economic Dinosaurs this way Cometh.
———————————————————————————
There has been debate over the hypothesis that most evolution occurs during relatively brief episodes of rapid change that punctuate much longer periods of stasis.
I agree with FOFOA that why should a economic system be viewed any differently, after all its extension of the same information system.
“Punctuated equilibrium.” states that animals remain in a static state until environment pressure causes evolution. Evolution then occurs quickly. The more extreme the environmental pressure, the more extreme and the quicker the changes.
Cant help you with timing go look at the stars or tea leaves or runes lol. Maybe you can ask your friendly Lizard but for heavens sake do not look to the main media or politicians, just my opinion.
If we arrest Bush for war crimes, what shall we do with Truman? eisenhower? FDR? Churchill? MOntgomery? These are the greatest war criminlas in history responsible for 10′s of millions of deaths. It would be a better start.
@Scott from Oregon … ” CNN capitulating just a wee bit? ”
Wow … you’re right !
CNBC actually giving RP time to speak … instead of inviting the slimy snake-oil salesmen to laugh him off !
Wow .. a first indeed !
Pretty Paulson Laundry Services:
http://www.youtube.com/watch?v=wbiofcuTZBo
http://www.youtube.com/watch?v=uNhBeTQ9GCw&eurl=http%3A%2F%2Fwww%2Edailypaul%2Ecom%2F&feature=player_embedded#t=377
CNN capitulating just a wee bit?
@Gonzomarx:
Nope. Paulson doesn’t even resemble Mr. Clean:
http://media.ebaumsworld.com/picture/MetalRevolver07/MrClean.png
@frances snoot
indeed and Paulie has memoirs to flog but sometimes there’s buried a nugget of interest or even truth!
When Pigs eat Pigs … Leaving Lehman, exposing Wall Street
http://www.youtube.com/watch?v=bhzkju_g3rs&feature=sub
Worth a listen … and be patient … ca. 12 minutes.
I don’t know, but check out this ranchy rash of words:
He is tall and striking, with piercing blue eyes and a head that is nearly bald. When he crosses his arms, he looks like Mr. Clean. But he is not articulate, especially in public, and as he gropes to find the words he wants, his features often contort into expressions that project a kind of caged and edgy consternation, when quiet confidence may be what’s called for.
Shall we paint Paulson as iconic, as clean, an American eagle of a man?
The man is a criminal. He should be IN A CAGE not described as cagey and free.
Predictions of riots from UK Trade Union leader -
http://www.heraldscotland.com/news/politics/cuts-will-lead-to-riots-in-streets-tuc-chief-1.919609
@Frances,…..yeah,..Todd wanted a roger from paulson if you ask me,……yeeeuuuch!!
http://www.vanityfair.com/magazine/bios/todd_purdum/search?contributorName=Todd%20Purdum
Your reckon he’s of the limp wrist brigade,..sure looks it, not that I’m homophobic ,….
@Dedo:
In the months to come, I would think of Paulson’s perseverance in the face of gastric distress as a metaphor for the way he persevered through the worst global financial crisis since the Great Depression. He never missed a day of work due to illness or indisposition in two and a half years, though he often awoke at one or two a.m., unable to go back to sleep. “I don’t mean to make light of this, because I felt awesome responsibility,” he told me on one occasion. “But as I said to someone—it may not be a great analogy, but once you’re boiling in oil, it doesn’t make much difference” what the temperature is.
See what I mean? We get the bile, Paulson gets the dough.
If he WAS boiling in oil, who turned off the heat?
@DEDO:
Imean read the Vanity article: it’s brings bile to the mouth!
@Richard@Latitude30N:
Don’t you just love how crime pays?
You’re a poet and you don’t know it,..
@Gonzomarx:
Henry Paulson arrived in Washington hoping to find the sliver of daylight that might help his party redeem itself, and to help a president who he hoped might yet do good things. He came to believe that in the face of turmoil the biggest mistake that economic policymakers could make was to do too little. Some of his furious fellow Republicans came to believe he did too much—as do some furious critics on the left, though for different reasons. Paulson himself is relieved just to have gotten us through the night.
Can you believe that a journalist could suck up so hard? I would assume the writer will never be able to use a straw again!
Good LORD! Yes, we made it throught the night thanks to our beloved illustrious duo Hanky Panky Ben Bernanke!
Is it possible to start a hedge fund on the following:
- the collapse of the US Dollar
- the next false-flag event in the USA
- the imposition of Martial Law in the USA
- the arrest of Dick Cheney and George Bush for war crimes?
- that all Obama promises are lies?
How would I go about doing that?
Finally, would it be inappropriate of me to buy shares in Coleman? Their tent sales will go through the roof when the next wave of mortgage holders hit the streets.
Ed
@francis snoot: might be…staying with Martin Borrman…your guess is as good as mine…100,000 acre water preserve is a lot acreage…BTW I really enjoyed the Camelot interview w/ Dr.P.Peterson….anyone who worked with Wilhelm Reich was a smart cookie…
why else seek Ken Lay’s address in So. America????
@Richard@Latitude30N:
YOU MEAN HE’S NOT THERE???
Henry Paulson’s Longest Night
big interview with Paulson
http://tinyurl.com/krog7t
For those uninitiated in Southern Slang:
http://www.urbandictionary.com/define.php?term=kiss%20my%20grits
@francis snoot: matey…agree….It’s painful to watch from my vantage point what appears to be the final days of the “American Century”…I was so much as a youth well invested in it’s prolonged success…Yet over the years I have taken steps to remove myself from basic mainstream thinking/living and thus you are right to detect a “dissenter” here…Have been for some time…I suppose it’s my upbringing since the 60′s where the motto was “QUESTION AUTHORITY”….I presume that stance has from time to time bore fruit…I prefer to be a “marginal” person of sorts…always betting on the underdog( WVO fuel for my vehicle for instance)…and thus my position in silver also….rather than gold….It warms to me that so many of Max’s readers/viewers are looking for the next brilliant financial or market move ( metals/commodities or even ETFs/options) but I have twice been in equities ( 1966 and 1998/99) and both instances the experience was short lived….I enjoy these posts as I view Max and Stacy as successful ex-pats who found their way back to their roots thru offering a variant view of the financial picture mostly through the kalidoscope ( sp?) of the many facets so many would not see if their POV was only the MSM…the financial terrorism continues…why else seek Ken Lay’s address in So. America????
@Frances,……..what’s the word for someone who uses a sentence when a word will suffice,…..hmmm : )
Oh yeah,….Smartarse!!
@Dedo:
http://img2.allposters.com/images/OHIO/30575.jpg
@Mother Earth … Thanks for the video
http://www.youtube.com/watch?v=Qh1q2OCwHSE&feature=sub
Charles Darwin film ‘too controversial for religious America’
http://www.telegraph.co.uk/news/worldnews/northamerica/usa/6173399/Charles-Darwin-film-too-controversial-for-religious-America.html
Remember me asking about ACORN ?
It seems that there maybe is something behind it !
Rotten ACORNs Don’t Fall Far From The Tree
http://market-ticker.denninger.net/archives/1431-Rotten-ACORNs-Dont-Fall-Far-From-The-Tree.html
@ Stacy – No way! Bailing out tax havens?! Are the people not protesting because they’re too busy laughing their heads off at the very idea?
You and Max talk about American passivity a lot, but what the heck is going on over there? Are we all being shocked into passivity due to the weight of the fraud and the non-stop scandals and bailouts?
In reference to the VAULT:
http://www.elook.org/literature/aesop/fables/356.html
After doing some research.
Stacy would you believe the DC fire department when the police declined to estimate the crowd (The New York Times).
Yes, I should be more precise about what actually happened when the US Media covered the protest.The weekend protest at Washington DC was mentioned. Fox-News, on the front page of the Washington Post and a picture on the front page of the NYT, down-played the numbers down from several thousands to 30,000 up to 60,000. The Daily Mail (UK) reported 2 million!
Sixty thousand is a real large protest rally. Several hundred thousands would be a very remarkable number for an US protest rally. Two number of two million would bring the US on the brink of a social revolution!
So it is important to get the number right.
The Rose Bowl Stadium almost contains a hundred thousand when it is filled:
http://www.rosebowlstadium.com/
The Obama Inauguration counted a 1.5 million:
http://www.boston.com/bigpicture/2009/01/the_inauguration_of_president.html
I did find some flying shots of the crowd, here they are:
http://www.youtube.com/watch?v=_sjvc6baor8&eurl=http%3A%2F%2Fwww.infowars.com%2Fmassive-corporate-media-coverup-of-real-numbers-at-d-c-rally%2F&feature=player_embedded#t=23
@Frances,……..what’s the word for someone who uses a sentence when a word will suffice,…..hmmm : )
Oh yeah,….Smartarse!!
@gonzo – Well, I guess that if Philly youth want to read some books, they can always do something to get arrested. Jails have books, and one thing they’ll never stop spending money on in PA is incarcerations.
@Gonzomarx:
That sucks!
In Florida, the libraries are sending the overdue fees to collection agencies. But I don’t think the libraries will get to keep the fees recovered: Florida is corrupt very.
1 Cent stock now trading at 4.78$ today .. just a few weeks later !
VRMLQ.PK
Volume so far ONLY 569K !!!
http://finance.yahoo.com/q/hp?s=VRMLQ.PK
17-Jul-09 0.01 0.01 0.01 0.01 0 0.01
They should rename “Crazy Crooks Street”
@Richard@Latitude30N:
To dissent is not a bad thing.
“This paper argues that the appropriation of dissenting rhetoric necessarily introduces an impropriety into the act of discursive engagement, which, in turn, destabilizes the foundational assumptions of the rhetorical protagonist and opens the dissenting position up to external critique. Drawing examples from the rhetoric of Christian evangelicals, it challenges traditional interpretations of dissent as unidirectional persuasion, which identify the dissenting speaker as an essentially stable and grounded figure in relation to a potentially malleable audience.”
That’s sort of the idea…
@Phil: well put…”…puts on on gold…” I like the advisers viewpoint…well spoken….
@Mike King: you may be right…not about me being clueless..it favors both Barricks need to remain solvent and China’s desire to acquire more gold at a lower price…a win-win for both the supplier and the buyer…$1030 spot gold price still seems like a long way off….As I wrote earlier I see the “barter” system as a viable though minor alternative to the fiasco that lies ahead…
All Free Library of Philadelphia Branch, Regional and Central Libraries Closed Effective Close of Business October 2, 2009
“We deeply regret to inform you that without the necessary budgetary legislation by the State Legislature in Harrisburg, the City of Philadelphia will not have the funds to operate our neighborhood branch libraries, regional libraries, or the Parkway Central Library after October 2, 2009.”
http://tinyurl.com/kmj5lx
@Mike King … ” if not today…..this week….gold will more than likely get hammered to suprising lows. Wish I was wrong … I have 4.5 kilo in my vault.”
So you are hedging on e.g. the GLD ETF with Puts I presume ?
@Mike King, as of 9:30AM the only thing I see getting bombed are the SP futures. As though some guy with $150K in gold gets the inside info from the NY gold bombers. Hahaha, keep ‘em coming Mike.
@frances … ” Imagine a world without paper money”
JAPAN ! ..plastic (=digital) only
They are seriously considering a cash-less society to stop people from hoarding it !
@. Imagine a world without paper money
The trees would love it ! .. and why not ?
Digital Gold … so easy !
Of course, one would need “independent auditors” to keep track of the Governments that “say they have” physical Gold ( e.g. at Ft. Knox )
@Richard…..you are so clueless it is ludicrous….
Your comments are completely irrellevant to gold price…… anyway…. if not today…..this week….gold will more than likely get hammered to suprising lows. Wish I was wrong … I have 4.5 kilo in my vault.
@Richard@Latitude30N:
I’m not a mate more a matey. Also, I only play with words to learn, so I’m not calling myself any expert: call me trouble.
BUT it seems to me that everyone ignores the obvious, as usual, preferring hope and complacency. This is what Greenspan indicated when he said we couldn’t imagine a world that did not prosper.
The problem seems to be that the system is monopolized by controlling interests with a propriety over the dollar. Imagine a world without paper money. Do you believe that people will trade gold after the new architecture is budding?
Disclaimer: Snoot is completely biased towards puppies and pie. Other than that, Snoot has no experience outside letters.
@Dedo: thanx for the warning…time will tell
That is why options on the end of the US are trading well in the form of the gold price. Gold will have no official role unless America’s international role really does collapse, and the world is reduced from a system of trust (or imperial dictates, which amounts to the same thing) to a kind of barter at the international level. That would be a situation much to be abhorred, but it is not to be excluded. The world may need an alternative to the dollar if Obama persists in his present course.
http://www.atimes.com/atimes/Global_Economy/KI15Dj08.html
Interesting take by Spengler: why does he ignore the sdr as reserve icon? Also, if the dollar is devalued, asset prices will be called into question.
@Francis snoot: good morning mate…If Max is correct…and I have few doubts concerning his professional ability…gold stands to be a favored purchase whether deflationary measures prevail or inflationary measures prevail….refer to Kirby of GATA….when China contacted their organization recently one can only assume that gold is in play and if and when they demand gold as payment for their newly issued sovereign( foreigners only) bond offering in renminbi ( or is yuan?) well then that’s when things might get interesting…After all Ft. Knox hasn’t had an audit since 1954…Germany ( Bundesbank ) has ( all or some) it’s gold in NYC….The UBS scandal was hushed because the Chinese have a fortune in gold locked away in Swiss banks…As noted they have constructed a vault in Hong Kong’s international airport…lotsa C-130s are in motion ( IMHO more than ever before)
BECAUSE IT COMES UPON ONE UNAWARES…SOCIETY MUST BE PROTECTED
Dedo:
Be careful, you might start a panic. I would refer to the virus as CP now…I’m working on a vaccine you know.
@Richard,…..Be careful how you handle MIKE,. ask Frances,….(psss,..something to do with CAPLOCK),..
@Mike King: say I might like some of whatever you’re smokin’….Is the dollar going up to match your predicted decline in the spot gold price in an hour and a half??? In the past these entities moved in tandem…is someone going to come out and report that the ETFs and gold futures on the COMEX are illequid???? Come on mr nice guy…open up…..
@Gonzo,…I agree totally,..well put!
Bloomberg is betting deflation of course. Gold bugs are betting inflation. Both see the carry trade from a different perspective.
Borrowing in the currency strengthens the currency through demand.
@Dedo
just a thought but it is always well to keep in mind Adam Smith’s astute observation about policy formation in England. He recognized that the “principal architects” of policy—in his day the “merchants and manufacturers”—made sure that their own interests had “been most peculiarly attended to” however “grievous” the effect on others, including the people of England but his observation generalizes, and as such, stands as one of the few solid and enduring principles of both international relations and domestic affairs.
@TroyOunce
Well just before the crises started we had the lowest unemploymend rate ever and companies where even afraid of a wage explosion so that helped.
The Dutch media is like a dead horse so you can’t pull it.
My speculation:
Calculate the number of the grains of sand existing on the planet. The same process will detemine the price of bread in the market soon. The governments will fix “prices”. That will be the beginning of sorrows.
Mark these words…it is currently 8amish in new york….. monday morning……….within 2.5hours….the entity is going to hit gold…..down to at least 978ish as a guess. Just a hunch with current info…..I hope i am wrong.
My guess is there are shenanigans going on,…LOL !!
YARR!
BUY YO’ SOM’ SILVAH AND GOLD!
YARR!
… on a more serious note I suspect that owning gold and silver ANYWHERE IN THE WORLD and at the same time not being one of the politicians lucky ones is likely to be enforced as something illegal.. I would not be surprised if EU impossed a “gold-owning-prohibition-bla-bla”.
In which case the dollar will strengthen temporarily then the floodgate open up and we see real panic here…and the Stiglitz hint becomes rock solid.
And fool’s gold is worth more then the base metal.
reverse alchemy
@ Youri Carma
A friend of just came back from Holland (Den Bosch) and he was amazed by the fact that there in No (none, nada, zero, zilch) proof of any recession over there: restaurants full and people 3 rows thick waiting for a seat.
Amazing.
It seems the government knows how to hide the bad news and gets away with it.
Freaken: like the sh*t is hitting the fan but the press is smoothing the icing on the elite cake.
@Dedo .. UK Debt 60% of GDP
It used to be 47% a short while ago IIRC.
My guess when it gets to 70% , they have no problems joining the Euro – as most other EU countries are way over the Maastrich limit of 63%.
LOL !
BTW, Germany’s Debt is more than 2 x that of the UK.
The GDP of Germany is certainly not twice as big AFAIK !
The %-ages shown do not compute IMO !
@Youri:
How do we know it is a carry trade and it’s not just a panic out of the dollar because everyone that knows knows the US is about to default on its sovereign debt?
@Phil,…….The UK’s national debt is 60% of GDP,…what about the Serco Group who run most of UK plc, I don’t get how they inter-connect
A short intermission here :
David Morgan : HONG KONG wants REAL GOLD AND SILVER — CHINA DROPS DOLLAR FOR GOLD
http://www.youtube.com/watch?v=wJ6AJSCM0fc&feature=rec-HM-fresh+div
“Don’t tell me I have all this Gold in London”
“Oh, and BTW, just send it back ”
@Youri … Economic crisis in European Union
Published: 23 February 2009 12:26 | Changed: 21 July 2009 16:30
By NRC International
How is the economic crisis affecting the European Union? This map shows the figures for all the member states by year and quarter and lets you compare budget deficit, unemployment rate, national debt and economic contraction. Updated with 2009 Q1 figures.
http://www.nrc.nl/international/article2160480.ece
Click on each country for the details !
Lehman’s Wrath Is Felt in Land of Genghis Khan: William Pesek – mining http://tinyurl.com/qutzyf
@frances …. dollar carry trade.
Bloomsberg has to be wrong. To borrow in dollars to invest in another currency is shorting the dollar i.e. selling what you don’t own brings the price down
The Netherlands: Leaked government budget gives gloomy forecast http://bit.ly/YCPBR
@Mongo: Yessir…I am in the same boat…gold too dear, and so I too purchased silver rounds last week @ $5.00 above spot( $16.46 spot price ) and will take physical possession in two weeks….As many months transgressed after viewing the silver spot market climb from $9.00, I bought in near the top as a hedge…you too??? My opinion is that the gold spot market will fluctuate wildly as China goes all in and the mining company’s hedge( deleveraging from derivative speculation) bets are slowly easing the price to lower….quite a battle is brewing…so I decided to invest in a potential future banking system: Free Lakota Bank…though the final arrangements with the Tribal Council have not been completed, I see an entire embryonic system of a non fractional reserve banking nationwide (globally??) as more reservation Tribal Councils come on line…The gold trade will lead the way for an upswing in silver prices without the potential of the “battle” I mentioned earlier….it’s a move that satisfies my radical nature…( also have two daughters who have close connections with the Black Hills ). Here in Florida the Miccosuccee Tribe administers the Hard Rock Casino and other casinos…they are a power to deal with and if my hunch is correct might come on board….Also this plays in with Max’s hunch ( prognostication?) that we are entering a Gulag Casino Economy…What better way to be employed than to promote the private banking system that might be a good fit for the Tribes…For those of you who aren’t familiar with the USA and the numerous Tribal Councils…well, since they have a special tax relationship with the Feds concerning activities on their respective reservations, thus the numerous casinos nationwide….I have always wondered if this was the Almighty’s way of retribution for the atrocities of the past and a taking back of the country by the Tribes ( the aboriginal people) through gambling profits.
@Stacy: good post about the offshore banking cartel…once again it appears that a wee small tax imposed upon the trillions handled by these offshore financial centers could/should accomplish the needed revenue…Interesting that the mention of a return of illegal drug money once again seems to surface….I wonder where that came from??? The ripples of the Icelandic banking failure apparently haven’t come to an end; even though the EU has welcomed them cover in the eurocentric world…the pound sterling once more will most likely take a beating…All around the Anglo/American/Dutch hegemony is toppling…they won’t give up easily to the Shanghai Coop nations or the BRIC nations either….the rattling of sabers is felt on all the continents…even Antarctica where there is drilling to locate ancient life forms buried deep in the ice shelf( supposedly a test site to test equipment for a potential Mars exploration)….Who knows maybe Earth bound Marsian rocks will be the next mineral to back a fiat money system…saves actually going to Mars….just a crazy thought…
Has The Keiser Report been on tv yet??
@frances snoot
Yep exactly.
Mmmm…. maybe because the use the dollar to buy other currencies, relatively speaking so against the other currency the dollar gets weaker cause in fact by buying the other currency that one goes up. But you first have to have dollars so it depends how you get it I guess.
Here’s Bloomberg on the carry trade:
Using the world’s reserve currency to fund carry trades became more profitable and less risky last month than with the yen for the first time since March 2008, Bloomberg data show. The difference in Sharpe ratios for dollars and yen, a measure of performance versus risk, has averaged 1.35 since May, compared with minus 0.37 since 2004. The higher the Sharpe ratio, the higher the risk-adjusted return.
‘Big Funding Currency’
“The dollar is the big funding currency,” said Jonathan Clark, vice chairman of New York-based FX Concepts Inc., the world’s largest currency hedge fund, with $9 billion in assets under management. “The reason why people are borrowing the U.S. dollar for carry trade is A: It’s very cheap to fund, and B: The expectation is it’s going to go down.”
In carry trades, investors borrow in a country with low rates and invest where returns are higher. The U.S. target rate is as low as zero, compared with 3 percent in Australia and 2.5 percent in New Zealand.
Seems to me Bloomberg is saying this trade strengthens the dollar:
The dollar rose to $1.4547 per euro, from $1.4571 at the end of last week, when it reached $1.4634, the weakest level this year.
Tempory albeit, but why does the Liam of the Telegraph say it suppresses the dollar?
@frances snoot
I think you have to look at the very good docu again which Max made about the Yen carry trade and the Icelandic situation
People & Power – Money Geyser- 05 Aug 07 – Part 1 http://tinyurl.com/44jmqq
People & Power – Money Geyser- 05 Aug 07 – Part 2 http://tinyurl.com/mt8dkr
Now you think the dollar instead of the Yen. The people who do this dollar carry trade bet on it that the dollar will only go down but if it bounces back and the dollar goes up they’ve got themselves a very big problem. With the cheap Dollar the buy currencies with higher interest rates and give out loans.
Towards a better measure of well-being
Stiglitz on a wider measure of wealth than GDP
http://tinyurl.com/noz7a5
@Phil good list
@Paul Anderson … EU-PIGS countries
I guess we’ll have to expand that to PIGIS soon !
(+Ireland)
@Paul Anderson
I totaly agree we are the victims of hubres neoliberalism and they now proved to be wrong. But I think that one doesn’t need to be very philosphical to point out the cause of this crises Low interest rates creating cheap funny money.
It surprises me that a lot of people grap this crises as an opportunity to get some philosphy back in their vocabulaire while the only philosophy practised in the States is Machiavelli which by many serious scholars isn’t even thougt of as a real philosopher.
Bottemline: Savers vs Speculators or Exteme low rates vs Normal rates.
@Paul Anderson … good report.
…”Nevertheless, there is general anti-imperialist plank that has emerged over the years and has a few noteworthy individuals. To name a few, republican presidential candidate nomination Ron Paul, Democrat presidential candidate nominee Denis Kucinich, Alex Jones prominent 9/11 spokesperson, Cindy Sheehan, antiwar leader, and Justin Raimondo libertarian journalist and editor of Antiwar.com. There is of course Noam Chomsky and Noami Klein.” …
I would have included John Pilger RIP as a very important influence as well ; and maybe even George Carlin as well – as many Americans heard his voice.
…”In short , in Jim Willie’s words “We are witnessing the demise of the US-UK empire, a era built upon banker monopoly, engineered inflation, Wall Street power, economic mythology, and military prowess. “ …
I agree that there is a US/UK front, a European and BRIC front . The attempt by the US to coerce the EU to follow their “financial bailouts example” was an attempt to keep us “under their roof” as it were !
My point was … if this succeeds, the Euro as a currency would break up faster than say the US$ !
Just so it reads right,….
The system is about usurping wealth from the people. With the emergence of technology
@frances snoot
In fact I did but have forgotten if it was red or blue. Well like we say in Holland I am not your “Crazy Henky Panky” so you get the figure it outs. If I stumble upon them I will post them of cause.
But I think that these figures are hard to get like said in the Britisch article, it’s not exactly known but taking into account the mindless predatory behaviour in this financial world it probably will be the next shock beside the derivatives trade.
The system is about usurping wealth from the people, with the emergence of technology, many worker bees(wealth producers) are no longer needed. Hence the overpopulation cry, and controlled demolition of the financial system (money being a tool to manipulate behavior.
My concern is, the rising up of folk who are ignorant of how the system works,.and who are fighting shadows.
I’ve tried shadow boxing, and apart from keeping fit, the exercise seems pointless!!
@Youri:
This presents serious systemic danger. A dollar weighed down by Chinese divestment, then suppressed further by carry-trading, could easily spring back. Those who had borrowed in dollars would owe more, while their dollar-funded investments would be worth less. This “unwinding” could send financial shock around the globe…
How does money Spring Back in the Fall? Really, could you translate this? The carry trade would strengthen the dollar. How would the carry trade suppress the dollar?
@phil
The EU is stronger on the fundamentals and is now China’s largest
trading partner.
IMO we are seeing the decline of the Anglosphere as Jim Willie puts it. Europe may be catching a cold but the empire is collapsing.
My latest article expresses this more poignantly.
http://inthesenewtimes.com/2009/09/13/the-big-picture-a-short-simplified-version/
@Mep:
Thanks for the link for the book. Planning on reading it this week.
Have you studied semiotics? Would tie in nicely with your degree pursuit.
@Youri:
You’d better take a pill: looks like the cap virus gotyou.
When do you think the Feds will raise rates? Where are the figures/data on the dollar trade idea?
@Dedo
Donnow exactly but indeed some fractional troops even from Middle Eastern countries so I’ve heard but a lot of them don’t belong in Afghanistan. Brezinski knows cause he delt a lot with the Talibans.
Since last night I noticed that things are really turning very wrong!
After the concert I heard a large number of people screaming:
BIS, BIS, BIS
@AM … King William – 1066
Didn’t he institute protection for the peasants back then.
i.e. a landlord could not evict a peasant from his home ?
I know this was still the law in he 1970s – Squatters in London.
Obviously they’ve changed it now !
Risk-taking Is Back For Banks 1 Year After Crisis http://tinyurl.com/owlnqp
@Youri,……Do you know exactly “who” the Taliban are,….apparently there are quite a few factions !
@Dedo
Well the one with the biggest gun, The Black Sherff Chicago Cowboy? As long as he’s able to pay his “Hessian” generously payed for Blackwaters army for hire.
Maybe the Taliban can get some funding and hire the Blackwaters that would be fun. The Blackwater for Hire fund, good hedge also and you can do some good betting on the Talibans to win this war.
Last episode there was talk about people reclaiming their rights atleast as peasants; http://www.thisiswesternmorningnews.co.uk/news/Royals-urged-allow-food-growing-land/article-1334503-detail/article.html
guess it’s happening; living of the property owned by the landlords/monarchy. Maybe even shelter, pension and health care coming up; in the long run might even end up as independent humanbeings with actual rights. That was meant sarcastic; it’s just outrageous how society works.
another thing that caught my attention in the UK: http://www.mirror.co.uk/news/top-stories/2009/09/14/4m-jobless-115875-21672037/
Is this hyping or is the UK economy in for a wild ride? still worrying that 4 million people rely on public spending, yet not that strange in the big bureaucracy we all live in.
(already too late to stop spending; afghanistan is going on for 8 years, iraq for 6 years, the banks got their money and so on: always incredible to hear politicians say public spending has to go down, but waste so much tax money)
Not taking on the bet; i don’t have a government to bail me out if it fails: Most people are not aware of how the bailout occurred or brainwashed by mainstream media that tells how good the plan worked and how the economy is recovering, Now it takes even a step further by bailing out off shore tax havens: so no wonder there’s no massive street protest about it: Yet unbelievable how far the corruption goes. it is almost structural that the taxmoney of the people isn’t used for the people more likely to used against the people: its abused to give to the corporations whom the politicians work for in the end. or depends what is defined as street protest; maybe a small number of people will take the streets.
@ToB … 2 mio. no way .. more like 100K maximum at best guess.
Of course , 100K is still 5 x less than the US MSM reported !
Me? .. 100K is a good turnout considering the (financial) logistics of getting to Washington in a time of “scarce cash” !
Is there a way to get that number right
I mean that of the people protesting at W DC
from 30.000 to 2000.0000 that is insane
the photo shows a whole lot at rense
http://www.rense.com/
shows a lot of people
Alex Jones also mentioned more than 2 million!
@tower of basel
Well we had the first Stockmarket crises but this was ended quickly and simply and still commend this Tulip Mania sollution. If we’ve done this today we wouldn’t be in this mess.
@Phil
Maybe we should make a bet who’s gonna cause the nxt crises? Max says Middle East, some say China with inflation, some say England or some other European countries?
I still think America will collapse on in itself first but who knows? It’s all a big mess!
Anyone out there in possession of any pertinent info’,…: )
you know what Youri Carma, they where first in central banking!
Some of the willem kings that conquered England in 17th century?
introduced it to England!
Something to be proud of?
The government (labour party) trading as Alistair Darling as a corporation,..works for whom,..the UK,..Serco Group,.BIS,..huh? I’m confused even more,..
If Britain is a corporation,..who is forcing it to pay?
@Youri .. that Broken BRIC article …
Reuters hopes !
Russia, the broken BRIC ? http://tinyurl.com/n7sxef
Intelligent Investing
S&P To Climb 20%
Michael Maiello, 09.14.09, 06:00 AM EDT
That’s the bullish call from a team of Bank of America strategists.
… “Get ready for the sequel to the summer rally–a year-long, full-blown bull market.
David Bianco, chief U.S. equity strategist at Bank of America ( BAC – news – people ) Merrill Lynch says the S&P 500 will hit 1,200 in the next 12 months, up another 20% from its current level to 17 times earnings for next year and 15 times earnings for 2011. Leading sectors will be financials , energy, technology and consumer staples, though there will be some risky opportunities in health care and utilities, say Bianco and his team.”…
http://www.forbes.com/2009/09/13/exchange-traded-funds-intelligent-investing-bofa.html?partner=alerts
Intelligent Investing !
BBC mulls partial selloff of “Worldwide” http://tinyurl.com/na6h2t
& The Killer Blow Phil will be when (Not if) Japan joins them
Mike
Venezuela shops Russian arms on credit
Mon, 14 Sep 2009 00:28:45 GMT
The Venezuelan President Hugo Chavez says Moscow has agreed to give Caracas a USD 2.2 billion credit to buy surface-to-air missiles and armored vehicles.
Chavez said on Sunday that the new weaponry is crucial to Venezuela’s defense strategy because the country is facing threats of a possible US attack.
..
.. ” The order by Caracas includes 92 T-72 tanks and Smerch missile launching systems. ”
..
http://www.presstv.ir/detail.aspx?id=106117§ionid=351020704
BRICV ?
@Stacy,…..where does this company come into play and does the taxpayer fund them?,..I’m clueless
http://shares.telegraph.co.uk/quote/?epic=SRP
Time for some Dutch tooting and Brit slapping: We where always the first, we where the first to discover America in 1609 and we give the Brits some serious slapping in the Raid on the Medway (Second Anglo-Dutch War) on which the Brits still don’t wonna be reminded….aha! http://tinyurl.com/pdvkq4
This also to give Nationalism a little push cause ther’s to much yellyfishing going on lately
Quot Niblett, Chatham: “The remarkable thing about this recession is that there hasn’t been a humongous rise of nationalism.”
@Stacy,…..Are Britain and the UK plc the same entity?
All these corporations and their interconnections confuse me!!: ) ask the kid if he can draw a hierarchal tree for us plebes….
WTF!
“The dollar carry-trade. You heard it here first. ” From: Cheap dollars are sowing the seeds of the next world crisis http://tinyurl.com/r9d69n
I WAS THE FIRST TO REPORT IT HERE IN ENGLISH ON MAXKEISER and I had it from a Dutch Dude Jan-willem Nijkamp : Watch out for dollar carry trade Door Jan-willem Nijkamp op 27 Aug 2009 http://tinyurl.com/npeusj
I bought silver coins last friday and today. Prefer gold but I dont have the cash to buy enough at the moment, besides. Anything of those two metals will go up regardless!
Would never have thought of this if it wasn’t for you guys!
@gonzomarx – the DC fire department put the estimate at 60-70,000
http://www.talkingpointsmemo.com/archives/2009/09/small_protest_agst_big_govt.php?ref=fpblg
@tower of basel
Teabaggers where all over FoxNews and on the front page of the Washington Post and a picture on the front page of the NYT which is more than the anti war demo’s of ’03 got.
numbers vary between 30,000 – 60,000 reported on MSM and in right wing blogs, the Daily Mail (uk) as 2 million.
the Inauguration was a 1.5 million. did it fill the mall in the same way? where there flying shots of the crowd?
@tower of basel
Teabaggers on the front page of the Washington Post and picture on the front page of the NYT which is more than the anti war demo’s of ’03 got.
numbers vary between 30,000 – 60,000 reported on right wing blogs and the Daily Mail (uk) 2 million.
But note the protests of last weekend in the US.
Not mentioned by mainstream media at all.
Here, in Europe, they say more than 2 millions!
http://www.rense.com/
Stacy & Max, with all your diligent press scouring, you don’t care about this secret Netanyahu visit to Moscow?
EU faces ‘existential’ danger from economic crisis
…”"The EU faces a quasi-existential crisis,” said Mario Monti, who ran the EU’s market and competition directorates for a decade. “…
…’The speed with which they ditched free-market principles in a matter of weeks was remarkable. The UK spoke of ‘British workers for British jobs’. The policy reflexes have become national again,” he said.’…
…”The special role played by the Commission in EU integration is based on the market, and this crisis has brought the market economy itself into crisis. It has lost respectability. This threatens to tip the Community into disintegration,” he told The Daily Telegraph. “…
… “This is a rejection of the Monti doctrine where Brussels plays the role of market umpire, breaking down national barriers to trade and investment. Mr Fillon said there could be no return to market primacy. “People are angry. They have seen risks taken with gigantic sums of money. There is a real danger of revolt on the streets of our countries,” he said.“…
http://www.telegraph.co.uk/finance/economics/6183857/EU-faces-existential-danger-from-economic-crisis.html
.
.
I consider the EU-risk as more important than all the red-herring headlines we keep seeing. The Euro’s acceptance by the Euro-public has already teetered on the brink quite a few times over the past 6 years. The (older) Europeans are furious as the article says – not just about the bailouts but about the currency fraud and it’s consequences.
ok, sweet… cheers
@Ptah
“I thought this was where the money was stashed”
Stashed in personal accounts, not available to the authorities – as these are tax havens and don’t tax the oligarchs. It’s a simple con, eh?
@Ptah – it’s where the money is hidden, but they only pay a relatively small fee to the tax haven governments for this privilege; but also there were millions and millions in unwinding trades this year, i would imagine also the russian oligarchs needed to withdraw their last billion as their own shareholdings got wiped out in moscow
Ok, gotcha, agreed…. bailout of tax dodgers with tax-payers money is… just… well…. going to incite a riot in my book… ‘cept it won’t – but it should….
I feel a little confused tho, I thought this was where the money was stashed. People would say to me – yeh, your so clever, well where is the cash then… and I would say… they moved it offshore… however this article suggests that they ain’t got it either.
So, they are either lying – which doesn’t take much of a stretch of the imagination, or they have been robbed too!
Or did the wealth flee to ‘other’ tax havens once the spotlight began to shine on UK based tax havens ?
“Why? The obvious answer is that the banking sector has been very powerful. Three decades ago, Pierre Bourdieu, a French sociologist ( http://tinyurl.com/gfexh ),observed that elites in a society typically maintain their power not simply by controlling the means of production (ie money), but by dominating the cultural discourse too (ie a society’s intellectual map). And what is most important in relation to that cognitive map is not what is overtly stated and discussed – but what is left unstated, or ignored. Or as he wrote: “The most successful ideological effects are those which have no need of words, and ask no more than a complicitous silence.”
http://tinyurl.com/me2oe7
only Freedom Works approved marches against government are allowed. NOT against Oligarchs.
Good morning Sherbert
Very interesting article here on both inflation risk and a potential new carry trade risk.
“Economists at Western banks making money from QE still say deflation is more likely than inflation. As this column has long argued, they are talking self-serving tosh. ”
http://tinyurl.com/r9d69n
What’s your / The Keiser’s opinion on a USD carry trade?