Fred Goldstein: GATA's London conference should inspire survival plans

 

 

Stop Clinging to False Hope and Face Reality

Saturday, August 20, 2011 – by Anthony Wile

Anthony Wile
All week long we have been witnessing a breakdown in global markets, or perhaps better stated – general public confidence. Gee, why would that be, we wonder? Why is it that the general public is not so easily convinced that all will be okay? Where is the usual confidence in their elected and non-elected leaders who've been given license to run the world, practically speaking?
Well, we don't want to be the ones who say, "We told you so," but we did. And besides our publishing efforts here at the Daily Bell, we have been trying our best to help spread the word as it relates to the oncoming financial hurricane (Hurricane Reality) for more than ten years now. Has it helped? Absolutely, for some. But as Jim Rogers often says, "I keep on talking about the same issues but no one seems to listen." We can relate to that sentiment.
However, for the most part, despite the ridicule, both public and private, I feel that there has been ample opportunity for people to educate themselves and take personal responsibility rather than wait for their elected or non-elected leaders to solve the very problems they themselves have caused. For anyone to believe they truly care and desire to do anything other than tighten the grip of their rule is foolhardy at best.
Everyone is complicit to some degree, but perhaps it is the people themselves, those being ruled, who are most to blame for the circumstances in which we all now find ourselves to varying degrees.
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Congressional Research Service study of U.S. gold standard history

 

 

Venezuela's gold withdrawal is 'the game changer,' Davies tells King World News

 

 

New York Sun: The next De Gaulle

 

 

We Are Exiting the Eye of the Storm
By: Doug Casey and Louis James

 

 

 

Who Is John Paulson, And Why Should The Globe And Mail Care?

They say that the simplest analysis is always the most powerful one. That appears to certainly have been the case with our presentation of global banks' Tangible Common Equity ("TCE") ratio to total assets from last Thursday, and specifically our observation of the glaringly obvious, namely that of the 30 most undercapitalized banks in the world, Canadian ones represented a whopping 33% of all. Note: this was not an attack on Canada, this was not some hedge-fund inspired start of a bear-raid on the Canadian banking system, this was nothing but an attempt to warn our readers of, again, what is out there for anyone (who is not blinded by cognitive bias) to see for themselves. Alas, the reaction to that post, particularly in the Canadian media, has been swift and severe, provoking such respected publications as The Globe And Mail to pen not one but two responses, one being the by now so-oft discredited attempt to ignore the message and target the messenger (Who is Zero Hedge, and why should we care?), followed by a more coherent attempt to debunk the claim that a painfully low TCE ratio is never a good thing (Is Zero Hedge looking at the wrong numbers?). The argument of G&M's Boyd Erman boils down to the statement that TCE is not a fair indicator of balance sheet stress and instead one should focus on a "Tier 1" approach of risk estimation, one that includes Risk Weighted Assets. Here we could provide the reference to Lehman's Tier 1 ratio, which was well in the double digits on the day when it filed for bankruptcy, even as the bank's true leverage was about 40x, a number which eventually brought on the biggest bankruptcy in history. We could but we won't, instead we will ask, rhetorically, who is John Paulson, and why should the Globe and Mail care?

Guest Post: Three Paths To Near-Term Human Extinction

About a decade ago I realized we were putting the finishing touches on our own extinction party, with the party probably over by 2030. During the intervening period I’ve seen nothing to sway this belief, and much evidence to reinforce it. Yet the protests, ridicule, and hate mail reach a fervent pitch when I speak or write about the potential for near-term extinction of Homo sapiens.
“We’re different.”
“We’re special.”
“We’re too intelligent.”
“We’ll find a way out. We always do.”
We’re humans, and therefore animals. Like all life, we’re special. Like all organisms, we’re susceptible to overshoot. Like all organisms, we will experience population decline after overshoot. Let’s take stock of our current predicaments, beginning with one of several ongoing processes likely to cause our extinction. Then I’ll point out the good not quite so bad news.





On EU banks, Solvency or Liquidity? - Or BOTH?

Posted by: Bruce Krasting

Post date: 08/20/2011 - 09:48

I'm looking for something Sunday night. I don't think the world can wait until Jackson Hole

Expect Mass Entry Into Gold By Retail Public: Richard Russell

absolute must read...and the link is here.

Silver About to Roar Through $50 All-Time High: John Embry

The link to the blog is here.

Nervous investors go for gold as panic grips stock markets

The link is here. The picture of gold bars that accompanies the article is worth the trip all by itself.