Economist Nouriel Roubini has officially lost it... Now attacking popular blogger
You've got to see what he's saying now...  

 

 

So UBS Is Considering A Charge On CHF Deposits After All

One headline and one denial later, we now learn that the original news was in fact correct. As MarketWatch reports "UBS Friday said it may shortly begin to levy a temporary charge on Swiss franc deposits as a way of encouraging its bank customers to keep their cash in the surging Swiss currency as low as possible." In doing so, the bank joins such illustrious banks as our own BoNY which announced on August 4 it would start charging a 13 bps fee on deposits. Naturally, this is nothing but yet another attempt to devalue the recently record Swiss Franc. If proven successful, look for even more institutions to establish comparable cash prohibitive mechanisms that force savers to sell the host currency and expose themselves to FX and counterparty risk in addition to everything else that already plagues fiat.

 

 

 

Goldman's Take On Jackson Hole: "We Think Further Easing Is Likely By Early 2012"

From Goldman: "BOTTOM LINE: Bernanke offers little guidance on near-term policy outlook, but extension of September meeting makes easing at this meeting a bit more likely than before. We continue to think that further easing via manipulation of the Fed’s balance sheet —either through expansion or restructuring of the average duration of holdings—is likely by early 2012."

 

Listen To Obama Discuss The Impact Of Hurricane Irene

Will Obama blame the weather on Bush or... the weather. Find out momentarily. Audio only: the presidential vacation will not be televized.

 

Bernanke Speech Wordcloud And Text Summary: Mentions Of Inflation: 7; Delfation: Zero

 

We Have To Change Our Tax Code Dramatically

Admin at Jim Rogers Blog - 43 minutes ago

First they need to get a little education about the rest of the world and about their own economic situation and then we have to change our tax code dramatically. We have to cut spending with a chainsaw; not with an axe, with a chainsaw. We got troops stationed in over 120 countries around the world. I mean the politicians have sent them there you know, and those military establishments are making things worse for America, not better. We got to change our total way of thinking just as the British did when the British started facing reality. - *in BBC News* *Jim Rogers is an author,... more » 

 

Concentrated Spreading Activity In Gold

Eric De Groot at Eric De Groot - 58 minutes ago

Spreading activity in gold has become concentrated again. Gold London P.M Fixed And Noncommercial Spreading Activity Diffusion Index (DI) Hi Eric I kept this post from a while ago and was wondering if you have any further details on your spreading diffusion index. I am looking to re create it in the technical software I use. Source: ... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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I Think The Treasury Market Is A Disaster Waiting To Happen.

Admin at Marc Faber Blog - 59 minutes ago

All I am saying is I am very bearish. I think we will have inflation. I think the Treasury market is a disaster waiting to happen. I think the economy will slow down. They’re going to print money and we will go to war at some stage somewhere. - *in Beacon Equity* *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.*

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"One Crappy Paying Job After Another" Cycle

Eric De Groot at Eric De Groot - 1 hour ago

Consumption expenditures as a percentage of GDP, 71.1% as of Q211, have grown steadily since the late 60's. Rising consumption and falling domestic private investment illustrates the growing economic imbalance within the global economy and America's dependency on consumption, largely foreign goods, to drive economic growth. Smart readers have likely asked themselves, yeah, but at what price? ... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Swissy Plummets On Rumor Swiss Banks To Charge For CHF Deposits

As the stock market whipsaws continue, nothing compares to what is happening in the various Swiss Franc pairs, as both majors USDCHF and EURCHF have soared (the Franc has plunged) following rumors that UBS (and possibly more banks) have escalated the currency war by announcing charges for CHF-based deposits, thereby making CHF holdings more expensive, and forcing a sell off. It is unclear if this was a private decision or mandated through the SNB. We expect that it will take the market the usual several hours to realize that the only winner out of this move is not ES but gold (and physical at that), which once again reminds everyone it is the only money without deranged central banker counterparty risk.





The US Follows Japan Into A Balance Sheet Recession: What Do Investors Know and Why Is It That Policymakers Appear Clueless?

Posted by : Reggie Middleton

Post date: 08/26/2011 - 09:58

What is it that the successful in the investment community see that policy makers in the US and Europe don't? Let's walk through the evidentiary building blocks of a US balance sheet recession and...

Filed under "Let Them Eat Cake"

So much for "shared sacrifice": Mrs. Obama has blown millions in public funds on vacations this year

British paper says "vacation junkie" has spent $10 million on "disgusting" trips... 

Buy me a cup of coffee...I'll need it, to go with all the cake...

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