Paulson Dumping Bank Of America 

According to CNBC's Kate Kelly, Paulson has given up on his $30 price target on Bank of America by the end of 2011, and instead has dumped a "substantial stake" in its holdings of the bank's stock. And so, the claims that the hedge fund which has now become the butt of all due diligence jokes, is about to eat more crow, especially as other objective skeptics have long been warning that the bank is massively underreserved for what is about to become a legal fee freeforall following the just announced non-settlement with the BlackRock, Pimco, New York Fed group, and thus a ticking timebomb. But no, Paulson is in it, so it must be a Buy, Buy, Buy. Idiots. Incidentally the market is only slowly getting to realize that the "settlement" announced a few days ago is actually horrendous news for the bank (but confirms that monkey throwing feces move the marginal money) as we said first upon hearing the news.

 

 

"Irrational Exuberance" Is Back... For The Third Time 

Exhibit A.

 

 

 

 

 

 

Fort Calhoun Nuclear Plant Main Building Underwater, 10 Mile Mandatory Evacuation Area

Do you really think everything is really OK? Do you think they would tell you the truth?

 

 

Corn Plummets On USDA Report 

Submitted by Tyler Durden on 06/30/2011 11:46 -0400

Corn traders, especially of a bullish persuasion, are being carted off trading floors feet first after a report by the USDA crushed expectations that there is a supply shortage. Reuters reports: "Corn futures plummeted more than 10 percent in early trading on Thursday after a U.S. government report said farmers were able to seed far more corn acres this spring than many analysts expected and that supplies are not as tight as many thought." And while the front month dropped by the maximum allowed limit, that did not stop the July contract, which has entered the delivery period and is trading without limits, to plunge by a whopping 70 cents. "The declines leave corn with the biggest monthly fall since June 2009." This is one time when those listening to Goldman would have been a well-advised action. From Damien Courvalin's note released yesterday: "We expect corn and cotton acreage will be higher than projected by the June WASDE, to the detriment of soybeans." 

Treasury covered up China's excessive buying of U.S. debt

Ambush in the Oil Market

Posted by: madhedgefundtrader

Post date: 06/30/2011 - 11:34

A new interventionist, activist approach by governments towards the energy space. If the IEA’s strategy works, and prices stay down 10% over time, this would inject $300 billion into the world economy. Howls of leaked information and insider trading. . Traders may bet against the national interest, but now do so at their peril. This is the first real attempt by the consuming nations to eliminate the oil risk premium, estimated at up to $50 a barrel. Cutting Brent prices by a whacking great $30 a barrel. Is this QE3 in black? 

William Galison Author of Article on the Murder of Sunny Sheu Assaulted and Threatened by Undercover Cop

Posted by: 4closureFraud

Post date: 06/30/2011 - 11:01

"I ask my friends and colleagues: what would it take to bring you to the streets? My death? Your friend's death?, Your lover's death? Your child's death? Sunny was a dear friend, but he did not have a big enough sphere of friends to make problems for the cops when they killed him."

And...It's Gone: QE2 Ends As Dealers Flip Just Auctioned Off 7 Year Back To Fed After Holding It For Under 22 Hours 

Submitted by Tyler Durden on 06/30/2011 11:04 -0400

Goodbye net monetization of US debt. Going forward the Fed will only roll maturing debt, as per QE Lite announced in early August, and due to the fact that it will be roughly one fifth the notional periodic impact of QE2, is not what so many erroneously classify as QE2.5 (a topic beaten to death previously). The biggest question of who will buy bonds now that Primary Dealers will be unable to roll debt to the Fed remains, judging by today's carnage in bonds, completely unanswered. And confirming that PDs always and only cared about flipping the On The Run bond, is the just concluded last POMO, which out of $4.909 billion bonds monetized, saw a vast majority, or $4.405 billion in the form of Cusip QT7: the 7 year just auctioned off yesterday! In other words, Dealers held the On The Run for less than 22 hours before flipping it back to the Fed!!! Well, those days are now over.

Treasury Complex Collapses To Celebrate Last QE2 POMO 

Submitted by Tyler Durden on 06/30/2011 10:31 -0400

The ever-recurring and oh so critical rhetorical Bill Gross Treasury question, which the head of PIMCO retweeted earlier this morning for emphasis, is starting to demand answers. And once today's window dressing exercise in stocks is over (which alas will not do much for most hedge funds which continue to underperform their benchmarks by a wide margin), and when the world wakes up to the realization that crude prices are rapidly heading back to triple digit levels, not to mention the dramatic rise in interest rates, vacuum tubes and momos will need to think hard and long about what the next upside catalyst will be. 

A Conversation Between a CDS Trader and an Equity Strategist on the Coming European Implosion

Posted by: Reggie Middleton

Post date: 06/30/2011 - 10:01

... I would tend to believe that from here, things are more double sided than before, and risk-reward much less interesting than it used to be, because there are now external factors like government intervention which can kick the can, and screw valuations for a long time.

The Insidious Effects of Monetary Inflation
By: Steve Saville, The Speculative Investor




Gold Holds Steady, "Train Wreck" Greece Could "Give Up" on Cuts, "QE2 Inflation a Success"
By: Ben Traynor, BullionVault





A Greek Tragedy that Is the Euro, Bad Actors, Bad Lines and More Lies; Gold Watches on
By: GoldCore






This is Jim Rogers' greatest worry in the world today
"It's not going to be solved until we have a big, big, big problem... Be prepared..." 




 JPMorgan's Jamie Dimon is one of America's biggest "welfare queens"
"His 10-figure paycheck is largely coming courtesy of us..."