Stacy Summary: h/t @marietta for the verbiage!
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ref. max keiser – Get 6 mo’s free storage
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Rick Ackerman-
- Karl Denninger – Market Ticker
- The Big Picture
- Mish
- David Morgan
- King World News
- SmartKnowledge
- GoldCore
fiat money and the french revolution
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crash banksters – Buy Silver & gold
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- A Lightning War for Liberty
China’s bubble waiting to burst
http://business.timesonline.co.uk/tol/business/markets/china/article7127675.ece
Euro Swaps Corner Trichet Showing No Signs of Slowing
http://www.bloomberg.com/apps/news?pid=20601087&sid=aIvr3NPO2SmA&pos=2
The new Global European Anticipation Bulletin (May 2010) is out:
http://www.leap2020.eu/GEAB-N-45-is-available-Global-systemic-crisis-From-Eurozone-coup-d-Etat-to-the-tragic-solitude-of-the-United-Kingdom_a4666.html
@Stacy
Now that the comments section gets to be a few pages long, is there any way to have a button that takes you to the beginning of the comment stream without having to press “Older Comments” again and again?
Einstein the parrot http://bit.ly/cmFkDK
Did you read this about our new Miss USA? http://is.gd/ccfHH
Waddell trader blame is misguided since cause of market crash doesn’t address structural defects http://tinyurl.com/2vl8g2o
WOW…very scary site….what a whack job
http://www.debbieschlussel.com/
Taleb Says Focus on Specific Trades in Selloff Misguided
http://www.youtube.com/watch?v=OVxcDgfTzuk
Banker lynch mobs next, they know where you live mwahahaha.
Very, very good Article in the german newpaper FAZ! A detailed and realistic description of what could likely develop in Europe in the next decade. The PIIGS and France will go bankrupt and Northern Europe (after paying the bill) will consequently leave the Euro to form a new “hard currency” with Germany, Netherlands, Austria, Benelux, Finnland, Czech Rep. and Poland. I LIKE IT! But sadly, if this would become reality, the French and the British parasites would immediately attack.
blagojevich’s problems started when he took on bank of america
http://www.bloomberg.com/apps/news?pid=20601087&sid=agOFtufX.FXQ
It’s most likely that the ‘invisible hand’ has already doodled the new boundaries of a future world with ‘optimal currency regions’. The question should be: for whom will these regions be optimal.
My guess is for those who hold propriety in the sdr monopoly game.
The posturing between Sarkozy and Merkel should be relegated to a telecommercial on American cable television.
Chinese banks are in recapitalization mode:
“All Chinese banks are scrambling to raise capital while investor appetite lasts.”
http://www.chinadaily.com.cn/bizchina/2010-05/05/content_9812281.htm
“Major banks are planning to raise hundreds of billions of yuan in fresh capital, a prospect that has weighed heavily on the Shanghai stock market lately. Some banks have already tapped investors.
Major banks risk breaching their minimum capital adequacy requirements after lending a record 9.6 trillion yuan in 2009 and gearing up to extend a further 7.5 trillion yuan this year as part of China’s appropriately loose monetary policy, the central bank said.”
http://www.reuters.com/article/idUSTOE63R09L20100428?type=marketsNews
http://www.bis.org/publ/bcbs165/cbrc.pdf
“Chinese banks may have a problem with the classification of intangible assets by basel committee:
The Treatment of intangible assets. In principle, we endorse the deduction of intangible assets due to the uncertainties in realizing their values. But because of the differences in accounting standards across jurisdictions, the recognition criteria and detailed scope of intangible asset are quite varied as well. In view of this fact, we suggest the BCBS take into account the differences in accounting standards, so as to avoid substantial differences occurring in supervisory standards. For instance,
according to Chinese accounting standards, the right for land use is recognized as intangible asset, while for some other countries, such right is categorized as fixed asset. Under such circumstances, the deduction of this part of intangible assets will pose negative impact on Chinese commercial banks.”
You bet Germans are fantasizing about it. Why wouldn’t we? Their political class have long been Eurofanatics, but the common people of Germany are less than impressed at being forced by their own government to pay for the vote-buying of corrupt Greek politicians. Having to pay for our own corrupt politicians is bad enough.
I’d include the Swiss in such a northern currency zone, and invite the English (or indeed, anyone who wanted to join) on condition they’d agree to a truly “hard” currency, one backed by a metal commodity.
But we should all know by now that the people will never be given such a choice, precisely **because** the political class fears the people making the right choice.
“Fashionable” rhetoric?
“It is the greatest bubble in history with the most massive misallocation of wealth,” said James Rickards, formerly of hedge fund Long Term Capital Management. He told a business summit in Hong Kong that stock market speculation on credit and wasteful spending by officials were disasters waiting to happen.
Rickards even said it is time to take China and Russia out of the investment-fashionable Brics grouping — coined by Jim O’Neill of Goldman Sachs — because only Brazil and India are what he called “real economies”.”
http://business.timesonline.co.uk/tol/business/markets/china/article7127675.ece
Does that mean O’Neill will coin a new acronym for China? Not a piig, mind you, but whatever Goldman decides to use as a handy abjection? Surely the press will take it up as usual.
Do ‘real’ economies submit to the IMF dictates? Because this was the warning on an American essay this month:
“America is NOT a PIIG?
Surely, you say, America is not a Greece, an Ireland or even a Spain.
If America does not heed the advice of the IMF, it may one day end up just like Greece.”
http://trueslant.com/michaelpollaro/2010/05/13/america-piigs-“r”-us-too/
Is that a threat or a warning?
investment-fashionable Brics grouping
Not obamatized economies: the money moved.
(But not to worry: only Wallstreet bankers are criminals)
http://www.merriam-webster.com/dictionary/lobotomized
“Hundreds protest at banksters’ houses…”
The poor banksters are being terrorized by these racist little people (s.e.i.u. rent-a-mob, for great propaganda scene, mainstream media exposure -guaranteed or your TARP bailout money refunded call s.ei.u. today … ).
Leave them alone – they’ve suffered so much already.
More of this public expression of anger and First Amendment Rights will force the banksters to relocate to some private islands (or somewhere like) that have no extradition treaties with the USA.
These little people should be wheel-barrowing their IRA retirement accounts to these banksters’ front doors instead of behaving like insulant ingrates.
They’re only doing God’s work!
Remember when Paul Craig Roberts declared that the US Treasury was Goldman Sachs? Well, that makes O’Neill ( more like a diplomat than a banker, right?
http://www2.goldmansachs.com/gsam/pdfs/USI/education/bio_oneill_jim.pdf
http://crooksandliars.com/susie-madrak/paul-craig-roberts-geithner-works-gol
In which case: IMF=Goldman Sachs=US Treasury=God’s work
Balance is being indicated by the adage: “May wiser heads prevail.” But the balance would be a scale tipped in the advantage of the IMF:
http://www.nakedcapitalism.com/2010/05/kregelparenteau-no-sidestepping-the-eurozone-implosion.html
There is no telling if the IMF will remain in the position of suprasovereign global regulator: perhaps a new international clearing union will emerge somewhere else. Perhaps Europe?
Fleece of the week (gold, silver prices also defy “free market capitalism” logic and continue to fall)
Global physical gold and silver purchases at historical highs, yet somehow – the prices display exaggerated in-unison price drops.
Apparently fleecing the US stock market attracts too much public attention and scrutiny – so it’s time to plunder the gold and silver markets.
Tyler Durden, Zero Hedge, May 17, 2010: “Last week we noted that several prominent Austrian and German gold dealers had run out of inventory and were no longer transacting with a European population that has suddenly discovered gold religion. … “.
via
http://www.prisonplanet.com/with-local-gold-inventories-depleted-panicking-german-dealers-stage-run-on-krugerrands.html
If Asia goes down especially China the whole world is doomed. China carried the whole world in 2009 for the most part.
Maybe the Germans could adopt the Swiss Franc and Austria could join too. A German speaking dominated currency union maybe bring in the dutch too.maybe even bring in Scandinavia. Would UK ever give up Sterling the longest running currency in the world? If I was the Germans I wouldn’t even want them. A Bloc with Germany, Austria, Netherlands, Sweden, Norway, Denmark and Finland would be very strong. The Swiss sould be tough to get the more I think about.
Is it just my perception, but is the frequency of “events” increasing? I feel we are nearing a cliff of some sort. Now returning to my soothing cup of coffee.
And kudos to the SIEU- speaking truth to power.
I could see europe dividing into five blocks: The holy Roman empire Block Germany, Austria, Switzerland, Netherlands, Belgium, Luxembourg, Slovenia, Czech Republic, Solvakia and Poland. The Latin European block France, Italy, Spain and Portugal. The Northern Block UK, Ireland, Norway, Denmark, Iceland, Sweden and Finland. Then you have the Russian block Baltic states, Ukraine and Russia. Then you have the other block Greece, Romania and Serbia among others.
Max on AJS RIGHT NOW! http://www.infowars.com/
If I was the Germans I would also want a strong political union with Austria, Belgium, Netherlands, Luxembourg, Czech Republic, Solvenia and Poland among others. The Euro’s big problem was no strong political union. I think these nations would likely agree to that.