Stacy Summary: Reading from Mish that he thinks the yen is worst currency to have and will have a crisis before the dollar; and from Martin Hutchinson that he thinks UK is country most likely to default first.
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ref. max keiser & Get 6 mo’s free storage
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Rick Ackerman-
- King World News
- Mish
- Karl Denninger – Market Ticker
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- Michael Hudson
- ZeroHedge
- The Big Picture
crash banksters – Buy Silver & gold
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Most recent: 
@y’all
oh yeah that chestnut why don’t people do…. same ol’ same ol’, I still waiting for the day somebody just one body… oh nevermind… they… always with the ‘they’ same ol’… bluh!!!
@ AM
Your summations are outstanding…. thank you!
Wall street / Gov = Organized Crime Family
snip from Huff article;
“Wall Street titans, recognizing that they have something of a credibility problem when it comes to opposing regulatory reform, are enlisting more sympathetic, everyday folks to lobby on their behalf on Capitol Hill.
Bankers, brokers and swaps dealers have been browbeating their clients — farmers, fuel companies, airlines, municipal power companies — who are the “end users” of financial derivatives: Lobby Congress against reform of the derivatives market, the bankers say, or the cost of your derivative deals will skyrocket. ”
If I can figure out this whole derivatives scam, I would expect that others are capable of doing so as well. Why do they not question the legitimacy of these financial scumbags?
MEP “There is no excuse for the Dems to fail the majority of the country in the midst of an economic depression while being the majority party.”
This is not a real economic crisis (that is, it did not have to happen)…. all along it has been a purely political crisis (widespread corruption) where all manner of “crises” have been and are being engineered.
@Frances
I agree that this end the Fed movement is almost irrelevant compared to the larger usurpation of power that is being attempted.
Here is a statement on todays screwed up world
http://ca.news.yahoo.com/s/afp/091112/entertainment/us_auction_art_finance_sotheybs
@Richard@lattitude30N Thnx i try to explain my view as clear as possible; glad someone reads and appreciate it. The major problem is to get a majority that is required to really change things/vote in the “right” people with good morals and values who are informed. I don’t think a revolutionary war can change anything like in the 1700′s; now the system is much too complex, it isn’t 1 country or a small group of people; and not to forget all the martial law ready to go robot armies etc. So to address the core of the problem; people dont care or don’t understand. as long as 51% just cares about his football, tv and being able to financing it’s own living without consent nothing can change. Somewhere this crisis creates opportunity for those who are tired of this system; yet so far it has been the other way around. If people are angry, fed up and want change (which was obviously seen with obama, and disapprove his policies now with low approval rating) than we who know at least the basics or even to the details have the duty to inform others. But most people i speak to just don’t give a …. i think internet is a very powerful tool, as soon as the majority of the people is informed there’s no stopping. i personally am a pessimist; i don’t think things will change, because most ppl just care about their bowl of soup for the day and too much distractions to divide and conquer. Yet a man can always dream and may never lose hope, so we have to make sure our voices are heard even now we’re a minority keep pressure on the politicians and explain the change you want to see as often as necessary.
Good news for brown pelicans:
http://latimesblogs.latimes.com/unleashed/2009/11/delisted-brown-pelican-is-no-longer-an-endangered-species-say-federal-officials.html
… they’re off the endangered species list.
@Phil – the Europeans are getting angry, however, with all other currencies devaluing . . . against them; even the Germans are starting to make noises about it, they usually take pride in a strong euro
The IAE has rejected the whistleblower claim re: peak oil cover-up:
http://www.cnn.com/2009/BUSINESS/11/10/france.iea.oil.supplies/index.html?section=cnn_latest
They want to know why Pat,s journal, which he had kept assiduously for years, was destroyed in the aftermath of his death. They want to know why his clothes and other surrounding evidence were burned.
@Staceyherbert
Why Did Pat Tillman Die?
http://www.counterpunch.org/zirin03062006.html
the opium trail Why are we in Afghanistan?
Need to hide your money?
No need to go to Switzerland or Cayman Islands.
Delaware is the best place to hide your dodgy money…
http://www.youtube.com/watch?v=KlPQjSWHGO0&feature=player_embedded#
“Every Congressman, every Senator knows precisely what causes inflation…but can’t, [won't]
support the drastic reforms to stop it [repeal of the Federal Reserve Act] because it could cost him his job.” — Robert A. Heinlein, Expanded Universe
“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” — Henry Ford
One couldn’t tell by our use of oil overseas that the supply of energy is dwindling; we use 22 gallons of fuel per soldier per day:
http://www.wired.com/dangerroom/2009/11/afghanistans-oil-binge-22-gallons-of-fuel-per-soldier-per-day/
What’s this all about Max?
http://moneynews.newsmax.com/streettalk/faber_gold_will_fall/2009/11/11/284839.html
@Y’all
I think I am gonna wind down too… so for youri and airbody else… sweet dreams!
http://www.youtube.com/watch?v=V6w-pQcivjU
@dan.v
I think she has gone up the wooden hill to bedfordshire!!!
@ frank snoot…”And the stupid Patriots are worried about ending the Fed.”
Its a legitimate place to start.
YouTube – Warren Buffett Slams “Cap and Trade” as a Regressive Tax on All Americans http://bit.ly/BnJZG
Crap and Trade
Peter Schiff on it
http://www.youtube.com/watch?v=pbwM625GMmc
http://www.youtube.com/watch?v=FrvOvRsTWo8
Gerald Celente on it
http://www.youtube.com/watch?v=RIPSrKbYp0U
Japan is a creditor nation. If the yen collapses, they will be forced to liquidate their foreign exchange reserves. There goes the treasury market, ergo there goes the dollar.
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/25/AR2009052502402.html
And the stupid Patriots are worried about ending the Fed.
Do you think gold will buy people airline tickets? HaHa! Oh, and of course the roadblocks and walls like the Israelis template of apartheid.
@Joe:
It will be about the carbon credit exchange: competition and trade of credits, soon to be fraud and crony kickbacks…consolidation under the politicos for insiders. Elite to travel and live like kings: but er, all for ECOLOGY.
God damnit I hate PDF files slows my comp so much. Didn’t really think about it on limiting travels which makes a lot of sense. No big CO2 emitters are going to change the structure. they will just raise services prices & will lie on the people to bear the burden…. unless there is a price control on the products of major emitters then I don’t see any incentive for actual reduction of CO2
http://www.bloomberg.com/apps/news?pid=20601085&sid=aDSRPb5hdrP4
http://www.roche.com/med-cor-2009-07-01-e.pdf
@Joe:
Yes, and if people decide to fight this they will abrupt themselves against the WHO pandemic martial law power structure. Run out of Roche Pharma.
The limits on travel will become draconian. The elite want to limit movement of peoples.
http://aucontrarian.blogspot.com/2009/11/five-questions-for-frederick-j.html
Go Fred Go…
France will show the way! Now everyone else tax the obnoxious gas CO2 – what other way will the government get revenue now that the tax base has dwindled down.
If global warming is caused specifically by man then why make a scheme that helps make money for so few… why not a gov takeover of the energy sectors and install renewable energy?
@MEP
small government is key in my opinion to keep things on a level playing field. I even laugh at that comment but still big government = big taxes and more corporate welfare along with more wars. Its unlikely we will see anything along the lines of smaller government but i still have yet to hear a better solution especially coming on the side of things that involve more government intervention.
Hey i wanted the US Dollar to die first
US Scum
“Three quarters of the French population are against the new tax, according to one poll. A political analyst, Dominique Reynié, said they doubt whether a unilateral levy will make any difference to global carbon emissions.
But Mr Sarkozy suggested France must show Europe and the world the way.
“Asia, the United States and major developing countries must make the same effort as Europe. There is no other choice. There is only one planet, a single world and we have a shared responsibility,” he said.
The French are also suspicious the new tax is a wheeze to plug a budget deficit that has ballooned due to the economic crisis.”
What a weasel is that Sarkozy.
http://www.telegraph.co.uk/earth/copenhagen-climate-change-confe/6169570/Nicolas-Sarkozy-plans-carbon-tax-on-French.html
@ Joe – I think “small government” conservatism now means ensuring that a small group of people–the top 1% of the country–benefit from and run the government.
On the Dems, I’d agree. There is no excuse for the Dems to fail the majority of the country in the midst of an economic depression while being the majority party.
http://dailyreckoning.com/how-quickly-will-feds-exit-stimulus/#comments
The last few days have been so busy, we haven’t had any time to think. But, now things are settling down, so we’ve had a chance to put our thinking cap on.
What are we thinking about?
Well, of course, we’re trying to understand the basics… George Soros had the right idea: Find the story whose premise is false…and bet against it. What premise is false?
The major premise that almost everyone believes is that government economists can improve the workings of an otherwise free economy. That leads people to believe that the feds have pulled off a save…they’ve now got the economy well along on the road to recovery…the recovery is getting stronger as time goes by…and soon, the feds will begin to exit from their stimulus efforts.
The big question in most investors’ minds is this: how quickly will the feds exit? As long as they keep up their stimulus efforts, investors expect rising prices for everything but the dollar.
Those who think the feds will be able to exit quickly believe growth will come without too much inflation. Those who think the exit will come slowly expect higher rates of inflation.
Well, guess what? The whole premise is false. From top to bottom. From beginning to end. Even the air it breathes is tainted with the smell of fraud and self-delusion.
The theory behind the recovery concept is that government spending and stimulus from the Fed has a “multiplier” effect. That is, the feds spend…the money goes into the economy…and then, the private economy multiplies the spending by growth in consumption and investment of its own. If there were no multiplier effect the whole exercise would be a waste of time, because we know that government spending in itself is a cost to an economy, not a source of real wealth. Government spending, generally, is a drag on prosperity. The Soviet Union proved that. The question remains however, can extra government spending at critical moments “prime the pump” so that it is multiplied by the private sector?
Answer: no.
“Our new research,” writes economist Robert Barro in The Wall Street Journal, “shows no evidence of a Keynesian ‘multiplier’ effect…the available empirical evidence does not support the idea that spending multipliers typically exceed one, and thus spending stimulus programs will likely raise the GDP by less than the increase in government spending.”
Now, we turn to the current situation. Is there any evidence of growth beyond the government’s own stimulus efforts? From what we can see so far, again, the answer is ‘no.’
The premise of recovery/multipliers/growth/and exit is false. We want to bet against it. Tomorrow we’ll talk about how.
Real economists know that there are no secrets. You work hard. You invest carefully. You save your money. That’s the best you can do. There are no multipliers. There are no miracle cures. There are no easy exits from trouble.
That’s why the world has little use for honest economists; they tell you what you don’t want to hear. So, people turn to the phonies…the charlatans…the imposter economists who say “yes we can!”
Trouble is, they can’t.
Until tomorrow,
Bill Bonner
The Daily Reckoning
Palin fits well into the extremes that are offered in presidential elections. In the last election we had a cancerous, aging, fake war hero, self styled war mongeror pitted against a young, bi racial, who the hell knows where he came from, poverty pimp. It reminds me of championship wrestling.
@Y’all
anyway shouldn’t that be jolene bag o doughnutz???
yee haw… one of the prettiest singinest songwritinist little blondes in country music!!!
http://www.youtube.com/watch?v=1plvBR02wDs
MEP is right – Palin is loved by a lot of the right but hated by everyone else – even libertarians which is supposed to be her calling card now.
Republicrats its all the same. Republicans give lip service to small government blah blah, Democrats give false sense to middle class improvement. Either way is just a bunch of BS
hey want a laugh….or cry as the case may be…the history channel has a new show called PAWN STARS… yu must see how these guys portray themselves as mafia types all the while showing you how to check for valuable items that can be pawned with tricks of the trade, as well as showing off a variety of priceless pawned items such as super bowl rings pawned to pay hospital bills or gambling debts.sad sad day
No, the GOP old boys hate her. She is a threat and fought with the McCain camp. But, its not really her per se, its an outsider or person of the people and not a groomed corrupt actor.
A Joe or Jane bag o doughnuts type of individual that will respond to the people and not the establishment.
Mep, if you run I’ll vote for you. Except I am not American. I bet you would be better than the clowns that get in there.
democrat/republican model is a false paradigm; whoever is elected, the same people are in charge
Good breaking news:
1) US Ambassador to Afghanistan is AGAINST sending more troops:
http://www.huffingtonpost.com/2009/11/11/karl-eikenberry-dissents_n_354657.html
(The Nation article linked to in that blog is worth a read.)
2) The AP is reporting now that President Obama has rejected all four options put to him on Afghanistan strategy.
If “Jane bag of doughnuts” is the bar that we’re going to set for Presidential office, then maybe I should run.
Further, the GOP does not hate Palin. They love her because her stupidity and over-inflated sense of confidence in her stupidity infuriates Democrats and Independents alike.
I have heard rumours that there is a serious third party in development. Don’t know who will lead though? That is all I can say.
Has anyone noticed groups of helicopters overhead lately?
@wl
What is it they say ’bout being careful what you wish for!!!
@wl
have you ever thought maybe of writing outside the box!!!
: ^ )
Nope, just thinking outside the box
@wl
er… was that a poem???
Actually, I think Palin would be great
The Democrats hate her
The Republicans hate her
The establishment hates her
She is Jane bag o doughnuts
Would really shake up the place
@Phil – Wow over 1120. Earlier today the Wall Street Journal had an article predicting 1300 sometime in the near future.
“Gold could rise as high as $1300 an ounce in the near-term as inflation concerns and the likelihood of a continued lower dollar draws buyers.”
Just imagine what would happen to the price of gold if large mutual funds started to put even small percentages into gold. Imagine if employees pressured their 401K plans to include a Gold ETF option. Today in an article Ambrose Evans-Pritchard referred to the Gold ETF’s as “The People’s Central Bank”, because they are the 5th largest holders of gold in the world.
@wh
yeah I still haven’t watched the wizard of oz with Dark Side of the Moon… I know it is probably on youtube and available for download… I own both products so I could do it myself one day… you wonder how people discover these things!!!
@Supergeek
enjoyed the twilight zone link; pf also goes well with the wizard; i grew up with the twilight zone looking forward to friday nights
@y’all
as I said 50th birthday of ‘the twilight zone’ I’m not a big PF fan!!!
http://www.youtube.com/watch?v=vTwdhpudsSc
‘Time Enough at Last’ great eps though!!!
Moving the game…just another long time player..Mayo A. Shattuck III – Bio
http://www.mayoshattuck.net/
http://www.constellation.com/portal/site/constellation/
Gold 1120$ FWIW
1.5005 US$ / Euro
http://www.finviz.com/forex.ashx
So funny that Gold always moves up after US trading hours ( Asia etc. )
@Frank Hope: Madoff went undetected for 13 years without ever making a stock transaction>…and Yes the Bronfman family may have aided the transfer to the Israeli bank you name…But so much covert money is sloshing about in offshore accounts that the “system” seems to me to remain intact just so that that money can travel freely, undisturbed covertly….The various opium, cocaine and marijuana fortunes are covertly ( as Jesse Ventura pointed out on the AJ show ) funding any number of covert activities …we civilians haven’t a clue as to the amount of underhanded activities that arise from this money laundering…all the key families are involved…hell even Bill Clinton was on Capitol Hill to promote the Big Pharma handout…I mean the health care reform….I maintain that the government budget is nothing more than a siphoning of money to their vested interests…perpetuating the fraud that the HofR is ‘the peoples’ house…..
@Frank … nice article .. good choice of topics as well !
It is rally just crazy that all the connected dots stare MSM in the face, and nobody talks about it ! Just never ceases to amaze me ( that the whole US-MSM & WS world is one and the same )
Ticking away the moments that make up a dull day
You fritter and waste the hours in an off-hand way
Kicking around on a piece of ground in your home town
Waiting for someone or something to show you the way
Tired of lying in the sunshine staying home to watch the rain
You are young and life is long and there is time to kill today
And then the one day you find ten years have got behind you
No one told you when to run, you missed the starting gun
And you run and you run to catch up with the sun, but it’s sinking
And racing around to come up behind you again
The sun is the same in the relative way, but you’re older
And shorter of breath and one day closer to death
Every year is getting shorter, never seem to find the time
Plans that either come to naught or half a page of scribbled lines
Hanging on in quiet desparation is the English way
The time is gone the song is over, thought I’d something more to say
Home, home again
I like to be here when I can
When I come home cold and tired
It’s good to warm my bones beside the fire
Far away, across the field, tolling on the iron bell
Calls the faithful to their knees
And hear the softly spoken magic spell
not to worry about palin. i understand that she had a israhell flag in her office. she would be business as usual.
@AM: very good lengthy rendition of the current human/financial condition….Yes the PTB have a mobius strip economy…one that only has them as the participants and survivors…we are not on board…at least I may not be…so AM: where and how do we gather in opposition??? only on the internet?? or will “a coalition of the willing” arise, as did those few young men in the 1770′s???
@phil – I have a theory about Madoff. I think part of his scheme was a sort of circular trading scheme. I think he had funds that were investing in him, and they would go out with their fake profits from Madoff and buy other funds and then in turn those funds would deposit more money into Madoff to keep the scheme going. Or something like that. By leveraging the investments, they could make it spiral up to the sky.
Jane D’Arista described something like that for the Wall Street Banks in terms of how they were using derivatives. And she also described it as a Ponzi scheme. I think were getting to the point where Ponzi scheme is being overused. It used to be every fraud was described as a pyramid scheme whether that fit or not. Now the fad is Ponzi scheme.
BTW, I think some of the Madoff money may have ended up getting siphoned off into overseas banks. One likely candidate is Leumi Bank in Israel. I wrote an article about tha a while back.
“The Madoff Connection”
No government has ever paid off its debt
Nice piece here from my favourite YouTuber …. Alexander Morrison ( vlogolution ) – who BTW was also VERY early onto the WS Ponzi scam !
He has reprinted part of a Martin Armstrong article ( those typewriter written PDFs ) … so here’s the link …
http://www.vlogolution.com/hot/2009-11-11-martin-armstrong-on-market-predictions-and-objective-vs-subjective-analysis/
It mostly depends on decisions made by the private central bank overseeing all central banks BIS (mostly credit rating) and due to the deflation on the “monetary financing” policy. (or as i call it; printing paper to buy out your own debt) it is an unique situation; the debts are one part of the problem the leading cause is politics. Japan was the whole cold war run by the CIA/US the “new” party has no experience/no possibilities; although no reason to run up the debt even further. Japan has shown that zombie government banks can live a long time, japan lost it’s industry to developing nations that’s why it can’t get out of debt. The only difference between the UK, US, Japan and Zimbabwe; is that their debt still is being bought. It’s mentioned in the articles; “We’d all better hope the urge for fiscal responsibility hits London, Washington and Tokyo pretty damn soon.”
Well i wouldn’t count on it apparently “they” have different intentions; else they wouldn’t follow this policy all over the world of running up deficits/bailing out banks and so on. I think this engineered crisis has shown that (economic) power has deliberately shifted to developing nations, whom still have to step up and prove it has. The zimbabwe dollar is worst currency to have… My theory is that the “speculators”/people behind central banking/globalists (nothing wrong with the world working together, but globalism is about cheap labour/easy environmental rules/cheap land and so on) shown that they profit from these crises; and global giant companies that use sweat shops like wal mart do great the less purchase power the more people forced to go there or speculators that benefit from collapse like CIT group or even “just” receiving interest; i think organisations/think tanks like WTO/WEF/bilderberg and so on figured out how to commit real robbery. So you build up one economy; like that of Brasil or India abuse slave labour in China to produce cheap goods, while imploding “rich” economies steal the money, suck it dry with interest and maximize profit with shipping in cheap goods then just repeat process, best thing for a select group for survival since the wheel, fire and electricity. the resources in africa and other places, interest on debt in every nation and military complex with artificial wars weren’t enough : corruption is the economic policy, nothing is about price discovery, demand and supply or consumer power/choice, the majority of politicians just play along out of ignorance/need money for office/need votes so dont want to raise taxes or cancel social programs to pay of debt and dont stand up for what is right basicly. We shouldn’t look at which is worse or which is “better” we really should start wondering why not what is right, my answer would be greed/envy/power/profit motivation/lack of human concern due to dehumanisation maybe a bit of ignorance/illiteracy.
@Stacy: hours before I returned to my PC I was ruminating about the two country currencies detailed in this comment section…it does appear to me that Japan with an imminent 275% debt to GDP equation seems like it has China( and the renimbi/yuan) as an investor angel in the wings; while the pound sterling has the euro in the wings in Europe with the EU..but that will have to wait until after the elections I suppose…even if the numbers crunch lower before hand…what a fix!!! Yet the IMF’s SDRs as a “savior”; and the many other country currencies also in distress, the entire fiat currency globally seems to me to be in tatters. With Britain having a 70+% debt to GDP and the US @ 65+% and both growing exponentially…well where are the bond rating agencies at this time ..particularly as the many states are also facing insolvency in the US as well….It appears that all the major public institutions and TBTF private institutions are also holding on by the skin of their teeth…it is rumored in this forum that the banks will return to the table after the bonus season to request yet more bailouts…they have yet to become solvent…and all the toxic assets held off books will take yet another 10-20 years to successfully be reinserted into the balance sheets…if the PTB don’t exacerbate the geo-political turmoil between then and now…clearly the manipulation in oi;l once fluctuated ( speculated??) when a Nigerian pipeline exploded or the threat of yet another Israeli conflict with it’s neighbors or as with Mexico an imminent shortage a their wells dry up…so many intermediary occurences can shift the balance….and now with winter upon us…well the heating oil shortages might become evident too
Fun breaking news: Lou Dobbs is leaving CNN. Gee, I wonder who will take him? (Compared to the rest of the Faux News crew, Dobbs is a pure genius!)
A few of us were talking about the depression and obesity recently . . . here’s a synopsis of new study looking at the relationship between the minimum wage and obesity:
http://www.grist.org/article/how-the-40-year-drop-in-the-minimum-wage-helped-cause-obesity/
@Frank … yes, Max ( & I ) have always said that the WHOLE WS game is a ponzi scheme.
Maybe 10 years ago ( before Glass-Steagal Reform ), it wasn’t so bad .. but now that there are no rules at all….. including allowing banks & Cos. to falsify balance sheets.
Madoff was a beginner … but managed to keep the lid on for 30 years.
@Youri … Fox & Hens
Yes , & Madoff was NasDaq chief for years !
LOL !
@phil – Good point. Max is way ahead of most economics people on explaining just exactly what has been going on. It’s interesting to see people catch on to a phrase like “casino capitalism”. When I first heard Max talking about these type of ideas it was considered laughable. Now it’s slipping into the mainstream.
One thing new that I got out of this interview with Jane D’Arista was the idea of “proprietary trading”. She also gives a good description of the web of relationships between the Wall St. Banks. And she also does a nice job of explaining the “carry trade”.
She even goes as far as to accept the idea that the whole financial system is a Ponzi scheme. The money quote is “you had a run on the financial sector by the financial sector” which resulted in the liquidity crisis of 2008.
This is the first I’ve heard of this lady. Maybe she has been saying this all along. I don’t know. I certainly welcome more people speaking out clearly on these issues. We need a snowball that will wipe out Goldman Sachs.
Gold running out!
http://www.telegraph.co.uk/finance/newsbysector/industry/mining/6546579/Barrick-shuts-hedge-book-as-world-gold-supply-runs-out.html
Mike
@Phil
It would be very sensible indeed to restore the old rules that worked like Glass-Steagall but also bring the regulation back on the derivatives and the sane Leverage quota.
It’s a surprise (or maybe not) that only Volcker mentioned this. Greenspan is out of his mind babbeling that people are bad and that we have to accept it but at the same time he was the one who opposed all the regulations to keep the greed within some bounderies including the ones proposed by Brooksley Born, he’s delusional. You can’t have it both ways.
If you let the fox guard the henhouse you can expect a situation wherein greed has no boundaries and unfortunately there are to vew sane economical forces within the powerstructure to do anything about it. Volcker is on his own and not the main advisor.
The Great Canadian Mineral Rush.
This is an update on the land (Mineral) rush in Canada I reported on yesterday.
With a little research I’ve found that over the last two years various entities/companies have acquired or are in the process of acquiring vast tracks of mineral rights in Alberta, western Canada.
Starting in 2008 through to today 41,000 km2 (15,000 sq miles) have been nominated for exploration and permits.
This is the size of Switzerland or Denmark!
What is this for? There are several possibilities as the western sedimentary basin holds many different useful things.
-Diamonds discovered in Northern Canada now Kimberlites in Alberta.
-Gold has been associated with some formations; just placer gold so far known in Alberta, but hey maybe there is some new data here.
-Coal, lots of Coal -Oil, major pockets of oil in the past -Natural Gas is known in the area
-and my favorite Phosphates to make fertilizer.
@M
Baxter: Product contained live bird flu virus, by Helen Branswell, THE CANADIAN PRESS, Last Updated: 27th February 2009, http://www.torontosun.com/news/canada/2009/02/27/8560781.html
@M
Baxter Sent Bird Flu Virus to European Labs by Error (Update2)
24 February 2009, By Michelle Fay Cortez and Jason Gale (Bloomberg) http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aTo3LbhcA75I
EU wants to surrender European bank data to the US !!
Rough translation :
…If the the Brussels commission gets it#s way, European Union bank customer’s data can be surrendered to American authorities …. for an unlimited period. European parliamentarians are not only indignant.
by Reinhard Hönighaus Brussels
The European union wants to make almost unlimited access possible for the USA on data of European banking customers. A draft of the Swedish Presidency of the Council of the European Union for an agreement with Washington plans that American terror investigators can evaluate in the future legally data to transnational and domestic transfers in Europe. …
http://www.ftd.de/politik/europa/:abkommen-mit-usa-eu-will-bankdaten-preisgeben/50036295.html
Can I join in?
Awesome comment on the Guardian regarding Lord Mandy’s job as “Information Minister”:
“The main difference between Joseph Goebbels and Peter Mandelson is that Goebbels was elected.”
Another book :
Why Jamie Dimon Wants to Silence Paul Volcker
…A self-described Libertarian conservative, Gasparino is no fan of regulation. In fact, he doesn’t think regulation works. But Glass-Steagall wasn’t regulation, “it was common sense,” he says.
If that’s the case, why isn’t anyone other than former Fed chairman Paul Volcker talking seriously about reinstating Glass-Steagall?…
http://finance.yahoo.com/tech-ticker/article/369201/Why-Jamie-Dimon-Wants-to-Silence-Paul-Volcker
The Dow Jones is CRASHING!! Open Your Eyes! VisionVictoryManifesto.com
http://www.youtube.com/watch?v=Kc_g94VJ5Uo&feature=sub
FWIW
@Frank ..yes, saw that this morning …. yet another book out on the crash.
Where were they all before it happened ?
OMG! Watch this. It is what Max Keiser will look and sound like 20 years from now. Either that or it is his mother
http://www.youtube.com/watch?v=PNbgvyb0o-I
Actually, it’s a very good interview on Real News Network with Jane D’Arista. Who is some sort of economics expert.
Palin, Romney, crap, and more crap. Maybe Ron Paul will gain some ground if he decides to run again – (doubt it). Maybe Glenn Beck will run as Palin’s running mate
@Mike … Wow, that was quite a round up !
Your last question .. France , don’t know, but in Germany it’s probably between 30-50 Euros !
@#1
one polite question, I thought you said you live in southport and as that aint in liverpool…why the name, is it just a football thing???
Hey Bernanke & Geithner, we should be so lucky.
Zimbabwe: A Fresh Start
Alf Field
11 November, 2009
Link, then clip:
http://www.321gold.com/editorials/field/field111109.html
The people were well dressed and looked well nourished. They were all friendly and affable. My view that Zimbabwe was a dangerous place did a dramatic about turn. These were peaceable people who wanted nothing but a quiet life. Walking around the streets, I never felt harassed physically. The curio sellers at Victoria Falls were a pain, but so are street vendors everywhere. They were certainly all friendly and intelligent. They could get involved in a serious conversation and all had strong views about economics and politics. Obviously it is Mugabe’s thugs that people fear, but that is becoming less of a problem.
Phil
Things quite but still ticking over, most firms are hanging on but only with “Help” via not paying their taxes to the goverment. Gordon Brown trying to find SOMETHING he can Tax!
The Asshole in a BMW number has fallen, still a few about but these are older models. I had hassle of one the other night, but it was a 3 Series 330i Coupe on an 05 plate.
I don’t think he “Enjoy” being the owner when he finds that he be required to pay £500 a year JUST on road tax! Factor in “Crash prices” Eg Inflation after the fall of the £ & he will not be able to afford said car.
Almost all the company cars are going from BMW 3 series to whats know as 99G cars. Thats cars that emitt less than 100 CO2 per KM……….These have less than 100 BHP & are bloody useless…………i can’t wait till all the Ex-BMW pilots have them
The Whore prices are still falling & the number of British females offering their services are on the up. Not quite the spread i hope for but getting there.
In a nut shell, its a “Phoney war” but i can see the Battle of the Pound starting soon.
BTW How much is a good French female?
Mike
Baxter has admitted!
http://www.youtube.com/watch?v=VTRSeeTGagQ
@ Gordo – 2 religious zealots and Palin? Palin is a zealot, too! Her pastor is far more worrisome than anything that Rev. Wright ever said:
http://www.youtube.com/watch?v=MAWM7E_WMfo
He’s a witch hunter!
Here’s a video of Palin praying in church for a pipeline:
http://www.youtube.com/watch?v=QG1vPYbRB7k
For more, do some searches on Sarah Palin and spiritual warfare. Here’s one to get you started:
http://fdlaction.firedoglake.com/2008/09/09/sarah-palins-demons/
@ Kriky242
Interesting comments. I tend to agree with you about Japans debt but I know that Hong Kong has lots of debt but China is an export economy.
@ Frances – I don’t know what you mean about Dodd and HuffPost; I merely wanted to share the lobbying story.
@ Phil – If the little lipstick fascist comes anywhere near me, I’ll go see her; I have some questions that I’d like to ask her. My guess is that it will be a rural America tour, because that’s where she thinks her support is. She’s likely to try to hang around the fringes of military bases, too. If she goes to Fort Drum–where her candidate just lost in NY-23–I’ll be there.
@Phil
Along with:
“Yet there is no denying her star status in the Republican Party, where she is often mentioned alongside possible Republican candidates in 2012, such as Mitt Romney, Tim Pawlenty and Mike Huckabee.”
What a line up Palin 2 religious zealots and an unkown.
I do not think it is a joke.
“So which major country, the United States, Japan or Britain, will default first on its foreign debt?”
Japan has no net foreign debt. It is impossible for a country that runt trade surpluses to accumulate a net debt to foreigners. Is it not? It must be. It has borrowed this money from its citizens. So Hutchinson is wrong already there.
Also, both Hutchinson and Mish make the error of comparing the GDP of a producing/net-exporting/trade-surplus/”consumes less then it produces”-nation (i.e. net saving), like Germany, China and Japan, with that of a 70% consumption/net-import/trade-deficit-nation like the U.S.
Third, it is unlikely that those with their own currencies (U.S for example) will default on its debt in a “honest” way, the most likely is they (U.S, Britain) will default the inflation way, i.e. print the interest, deficits and eventually buy all their own debt when it rolls over, which is not an actual default (but as bad for the creditors).
Also, he writes “We have not experienced a debt default by a major economy since the 1930s.” …hm, did not Russia default in 1998?
Also, if UK currency defaults, is it safe to assume that they will adopt Euro as currency? if so, will that be a positive or negative contribution to the Euro? In my mind a nation with defaulted currency that switches over to the Euro would drag down the value of the Euro, so if that is true, are that a sacrifice the Eurozone would be willing to accept?
@Phil – well, Palin drags attention…even you read about her…a brand name is being built..
@y’all
Happy 50 years old this month… no not me!
http://www.youtube.com/watch?v=NzlG28B-R8Y
@Phil
If she guts and skins a few politicians now, I’d vote for her
2012 – Get ready, America: Here comes Sarah Palin
…Is it a thinly-veiled bid to test the waters for a possible 2012 Republican presidential bid, or simply an effort to make money and cement her celebrity status?…
http://www.reuters.com/article/topNews/idUSTRE5AA3K520091111
They are joking I hope !
@Mike … how’s things in Liverpool these days ?
e.g. work, people, etc. .. anyone worried out there ?
total debt to gdp in japan is 450%.
fifteenth!!
Oh GOD let it be!
Mike
“The question being debated: Should derivatives – oil or corn futures, or foreign-currency or interest-rate swaps, for instance – be traded in the light of day on a regulated exchange? Or should this multi-trillion dollar market that was a major cause of the last financial crisis continue to just swash around in the dark?”
@Mep:
Could you explain how the multi-trillion dollar market was a major cause of the last financial crisis? Do you realize that Huff Post used Dodd as their champion? What agency would be tasked with the regulatory structure? Aren’t all the new rules coming out of the Financial Stability Board in Basel?
These 10 states may be closest to financial collapse
As states continue to grapple with the current harsh economic conditions, the Pew Center on the States has compiled a list of the 10 that are closest to financial collapse, part of a report on the budgetary health of all 50 states. The report warns of potentially damaging consequences if states fail to take decisive measures to fix their money woes…
By combining weighted scores for each state’s rank in its six contributory factors, Pew created a list of the 10 that are in the highest degree of peril. They are: California, Arizona, Rhode Island, Michigan, Oregon, Nevada, Florida, New Jersey, Illinois and Wisconsin. Close behind those terrible 10 are Colorado, Georgia, Kentucky, New York and Hawaii. (MORE)
http://tinyurl.com/ylzf3us
Bankers using end-users of derivatives to lobby against derivatives reform:
http://www.huffingtonpost.com/2009/11/11/wall-street-banks-trickin_n_352635.html
Japan ministers fret about yields, clash over spending http://tinyurl.com/y8a8un4
U.S., Japan spread strong-dollar myth http://tinyurl.com/y8pjrv5
I heard the UK did more QE than the US.
EU to adopt guidelines on derivative control by end of 2010:
http://online.wsj.com/article/BT-CO-20091020-707276.html
Jings, crivens, help ma boab! as we say in Scotland (oh dear).
It’s like watching paint dry … the FED does NOT want this market to nose-dive …. and I’m beginning to sound like Mike I think !
If Japan falls first then that I guess will lead to the first failed bond auction in the US ?
What butterfly effect (if any) could it have on Europe if the UK currency defaults?
#
A sideshow story. (off topic – jibber jabber)
With Google translation from this link:
http://www.stocklink.no/Article.aspx?id=60860
Headline: 1 of 2 financial advisors fail on authentication
The work to approve and authorize the finance staff are full-time and per 15 October 1063 has taken the first theoretical multiple-choice test with authorization scheme for financial advisers (AFR). But only half managed the test on the first try.
- We estimated at the start of the authorization scheme that about 5,000 employees would attempt to authorize them in the course of two years, and now we are already up nearly 4,500 submitted candidates, “says general manager of the authorization scheme for financial advisers, Siv Seglem.
1 of 2 fails
- The proportion who fail the first attempt is at 54 percent, according to figures from the authorization scheme for financial advisers (AFR).
- It’s important for us not to lower the requirements when the test should be a knowledge-lift, “said Seglem to StockLink.no
Number of candidates who does rise as the test becomes more set.
- The percentage of candidates who have passed the knowledge test has increased since 30 June and is still growing. Reasons for this include better knowledge of the requirements, thorough preparation and access to relevant literature and training programs, “said Seglem.
#
How about that, I don’t know what the test looks like but the story shows that we should not blindly trust financial people and assume that they know what they are talking about even if they have a diploma on the wall… could the situation be of similar character in other countries as well?
##
Just for fun: The childhood question of where do the storks get the babies from has finally been answered.
Pixar – Partly Cloudy
http://www.youtube.com/watch?v=7IowNtNvxVI
@phil
Ditto!!!
@sam … that’s Mike’s place … @ #1 !
Actually , I thought Mike might have jumped for joy on this one !
UK, First!