Stacy Summary: Check out gold this morning. Wonder if it’s a bank or an economy threatening to go under?
Bank of America Corp and Citigroup Inc customers defaulted on their credit card debts in August at the highest rates since the onset of the recession, a sign that the banks’ consumer lending woes are far from over.
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@Stacy – Hope I’m not intruding on a conversation but I’m guessing that the greenshoots and propaganda circulating is a way to divert attention from the truth. To create a sense that things are not as bad as they seem so that people will continue to make purchases and invest. Similar headlines circulated in the 1930′s during the great depression. I also theorize that it’s a way to trick the machine to prop up markets and generate profits since algorithms are doing all the trading. One of those algorithms apparently trades on noise similar to how investors speculate that news will drive market directions and prices.
Joliet Remembers The 1930s: Images of headlines from the great depression.
http://tinyurl.com/pmaeau
Hey Max and Stacy, how much of your savings are in gold and silver? :p
as to green shoots I have no reply at this time. The link I posted pretty well explains what the actual situation is. The reuters article maybe accurate depending on what is being compared. However I think we can all agree there are really far too many of these, for lack of a better term, “agenda” type pieces masquerading as journalism
The transunion information is not hard to find.
The Reuters headline (which most people only read), makes it look like a good number of people are defaulting on their credit cards and it is getting worse.
@gonzomarx .. I agree.
i.e. are all those “suicides” connected in some way ?
@Phil
there was a 3 week period last year in the UK when there was 3 or 4 executive suicides. there’s a piece to be done on the executive suicides/unexplained deaths from around the world since beginning of ’08
Suicide Victim May Have Hidden Millions Abroad
http://www.nytimes.com/2009/09/16/business/16suicide.html?em=&adxnnl=1&adxnnlx=1253091894-6ENOC2lVSp1Ly7bRbCn1kA
No one can know exactly what Finn M. W. Caspersen, a prominent philanthropist and the heir to the Beneficial Corporation fortune, was thinking when he decided to take his life on Labor Day. Although Mr. Caspersen, 67, was battling kidney cancer, his suicide shocked his family and friends.
But Mr. Caspersen, a patron of Harvard and Princeton who gave away tens of millions of dollars to charity, apparently harbored a secret: He was suspected of dodging many millions in federal taxes. The authorities, it seemed, were closing in.
At the time of his death, investigators were building a case against Mr. Caspersen on suspicion of using secret offshore bank accounts to evade taxes.
The authorities had asserted he might have owed as much as $100 million in back taxes and fines or, possibly, even have faced prison, according to a person briefed on the investigation, who was granted anonymity because of the delicacy of the case and the events surrounding Mr. Caspersen’s death.
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If the exact thing had happened in Canada, there would be 0.0000% coverage of it in the US — and less than that from this American imperialist newspaper. In the Seattle area the only ligit newspapers are “The Stranger” and “The Little Nickel”…
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@Stephen – ? They want to make it seem worse than it is? So why are all these politicians trying to convince us that there are greenshoots? Anyway, the article about credit card defaults is pointing out that everyone got excited by July’s credit card default numbers improving, while August is now back on its upward default trend.
The Credit Card story is pure nonsense. Yet more crap from the Illuminati Destroy America machine.
Here’s what Transunion says…TransUnion.com: Average Credit Card Delinquency Rates Decrease in All 50 States and D.C. From Previous Quarter.
http://www.marketwire.com/press-release/Transunion-1035066.html
EXCLUSIVE: Obama W.H. collects web users’ data
Social-media messages go into archives
…
…
… Defenders of the White House actions said the Presidential Records Act requires that the administration gather the information and that it was justified in taking the additional step of asking a private contractor to “crawl and archive” all such material. Nicholas Shapiro, a White House spokesman, declined to say when the practice began or how much the new contract would cost. …
…
http://www.washingtontimes.com/news/2009/sep/16/obama-wh-collects-web-users-data/?feat=home_cube_position1
Gold / Silver etc.
http://www.finviz.com/forex.ashx
Seems that the USD is down versus everything.
The Euro Gold price is still pretty stable at ca. 22,150 E/Kg.
In would be more convinced if G/S went up versus all the Fiats.
@Ptah … Thx – BTW where is our legal eaglet sharon ?
Hopefully not still trying to ” login ”
There is certainly going to happen stuff the coming days, both silver and gold are moving up and check out the volumes for december contract on gold on NYMEX.
Well, fuck this.. ordering some more silver!
@doomandbloom … “there is an increasing trend of maxing out of credit cards as a symbol of civil disobedience”
Expand / Link ?
..to buy Gold ?
Phil:
There is not, and never has been private property in the UK. All material wealth and property is owned by the crown, us plebs are only allowed to look after it. They quickly take away these privileges when it suits. The best we get is common law and with Clause 28 etc that is all shot to pieces. I would guess Sharon would be expert on this and will correct me if I am wrong.
The insurance companies want a bail-out and this is a good way of drumming up business. Although I reckon it might cause a flood of the second hand car market as people try to dump vehicles they cannot afford to insure. Thus they will be calling for a cash for second hand clunkers in 3-6months time as the gravy train cascades from one burnt out sector to the next.
I recall Max and Stacy ‘Ghetto model’ as the most prophetic calling. Once again, the dots join up.
there is an increasing trend of maxing out of credit cards as a symbol of civil disobedience…( maybe Karma Banque objectives are being realised here)
The last great hope for US health care reform
http://healthcare-reform.blip.tv/
as it is likely that the health care system in place when the crisis begins will be in place when it ends sometime between 2024 and 2038.
Ptah says that Lehman got a 10 billion dollar conduit out of the British government only months before their collapse which enabled Paulson to justify a 0.5% reduction in interest rates which at that time was viewed as a sign of a – don’t laugh now – upturn. Well, as he said… “we have a surprise surplus of 10 billion dollars on our books”.
Lehman had been the lender of last resort to Northern Rock, but the British gov took responsibility for that liability which in turn spooked British savers… the rest is history.
Paulson had completed the deal in an improptu meeting with Brown on an unscheduled stop-over in London on a return journey from either the middle east, India or China… I can’t quite recall that particular detail.
UK – My Home is no longer my Castle , Disrespect for Private Property gets closer …
Owners of uninsured cars face new fines under new Government curbs
Motorists who leave their cars uninsured face fines of up to £1,000 even if they are locked away in a garage or kept on a driveway.
http://www.telegraph.co.uk/motoring/news/6195021/Owners-of-uninsured-cars-face-new-fines-under-new-Government-curbs.html
The only legal reason to pay car tax or insurance is if the car uses the PUBLIC ROADS .
I consider this new Nickel&Dime tactic a complete disrespect for the fact that a British home / ground is private .. and not public.
Where are the protests ?
On those mysterious deaths of Financiers …
.. trend continues :
Four Apparent Suicides/Deaths in 48 Hours – CEO-Financiers-Fundraiser
http://dprogram.net/2009/09/15/four-apparent-suicidesdeaths-in-48-hours-ceo-financiers-fundraiser/
I second that!
Chekidooout! In da hizzlle the shizzle frizzle!