Author Archives: maxkeiser

• PFI contracts ‘costing departments 12 times more than they raise’

• Hedge funds eye further profits from JPMorgan losses

• Get Ready: We’re About To Have Another 2008-Style Crisis

Why NOT Shrink Credit In Recession (= U R Screwed)

Today’s lesson that you should have derived from your elementary and middle-school math is served…. smiley

Let’s recap first.

GDP = C + I + G + (x – i), where “C” is consumption, “I” is investment, “G” is government spending and (x – i) is net exports. Continue reading →

• Wells Fargo gives $22,000 to Suicide Hotline

• Note to Ambrose Evans-Pritchard at The Telegraph: You Have Excellent Insight as to What is Happening and Why, But Please Get a Grip on Reality as to Solutions

• It’s going to be much more painful for JP Morgan to flee or unwind this complicated position

The SLA should take this opportunity to strike hard at JPM’s core. The bank has never been more vulnerable. Take physical silver off the market while the paper price is trading at these levels.

• In Historic Move, Japanese Pension Fund Switches To Gold For First Time Ever

“Gold is becoming an acceptable currency substitute.”

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On JPM’s Dimon’s still unassailable position and Facebook as the new Yahoo | I should point out Yves Smith’s view of the JPM situation because I think it’s the correct one: She quotes Amir Bhide saying “What Scares Me Isn’t $2 Billion Loss JP Morgan Made, What Scares Me is the Record $19 Billion in Profits”. Clearly if the only big bank with a reputation for risk management is blowing up and still making tens of billions, you know they have to be taking on a lot of risk. Remember, JPM is not just the creator of CDS but also has the largest derivatives book on the planet. It has been a major seller of CDS over the four years since the market was vacated by AIG. And the London Whale trades seem to be hiccup in that strategy.

• Nearly 4,000 foreign criminals live freely in UK

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• A $100m flat at One Hyde Park goes up for sale

• It doesn’t happen often, but sometimes God smiles on us.

• FLASH: Greek Banks Cut Off?