Tiger's Robertson "Europe In State Of Financial Collapse"

In a moment of clarity, Tiger's Julian Robertson educates the money-honey on just how bad things are. Robertson started by trumpeting how bad macro is everywhere, moved on to Europe being in a 'state of financial collapse', likes shorting weak European currencies (Hungarian Forint) and warns of the possibility of a rapid rise in interest rates in the US. He is positive on NOK, thinks Canada is a 'very well run country', is a buyer of US large cap tech (citing GOOG and AAPL specifically), and sees Visa/Mastercard growing at 20%+ per year for some time.





BoomBust BNP Paribas? This Article Is A Hard Hitting Piece That EVERY MSM Outlet Needs To Pick Up On, IMMEDIATELY!

Posted by : Reggie Middleton

Post date: 09/13/2011 - 16:40

This post, in and of itself, should demonstrate to the entire Sell Side of Wall Street, the MSM/pop media outlets and all who may follow them that BoomBustBlog forensic research and analysis is...

Gold and Silver Withstand Continual Attacks/Greece default imminent/

Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 1 hour ago

Good evening Ladies and Gentlemen: Gold closed today up by $16.90 to $1826.80.  Silver had an even better day climbing by $1.13 to $41.29. The bankers showed up at the usual time knocking gold and silver down but like an Duracell battery it refused to buckle under as gold/silver reversed course to end up at its zenith today.  Let us head over to the comex and see some strange developments. The

NYSE Short Interest Soars To Highest Since July 2009; Is An Epic Squeeze Forming In Bank Of America Shares?

While two weeks ago the notable feature in the NYSE short interest update was that it had grown by a whopping 1 billion shares, or the most in over two years, this week's highlighted feature is that in the second half of August evil "speculators" did not relent in their negative bias, and brought the total NYSE Group short interest to a two year high or 14.9 billion shares, a 484 million share increase from the prior week, and the highest since July 2009 when the market still was unaware that central planning was the name of the game, and being short actually meant taking on the Chief Printing Officer head on (and fewer still realized that being long gold was the only effective way to "fight the Fed"). And just like last week when we speculated that we can "expect some even more furious short covering sprees to send the S&P much higher on an intraday basis" courtesy of this massive short interest overhang (which will without doubt be used by stock custodians to create a rally if and when needed, just like back in March of 2009, by making recalling shorts in every name), the probability of a massive "face off" rally grows as more and more join the ranks of those believing that the US capital market still plays by the rules. Newsflash: it does not. And anyone trading stocks, on either the long or short side, is guaranteed to lose.

Standard Chartered CEO Says Greek Default Inevitable

Since there is no point anymore in doing any analysis or wasting time thinking, here is the copy and paste of the relevant section from a just released piece in Bloomberg. "Greek Default, Euro Exit Inevitable, Std Chartered CEO Tells Sky. Default, euro exit won’t “necessarily” occur in next 1 or 2 mos., but “quite likely at some stage,” Standard Chartered CEO Gerard Lyons tells Sky News. Greece “not going to pull down Europe” or cause world recession." Actually, the last bit may be a rumor, at least if one remembers what happened to global banking after Lehman was taken down in a "controlled" Chapter 7. Anyway, Johnny 5: take it away.




Euro's Crisis of Confidence: System May 'Go Off the Rails'

Cconcern is growing abroad that Europe's piecemeal approach to the debt crisis could backfire, with grave consequences for the global economy.

 

In The News Today

September 13, 2011, at 1:24 pm
by Jim Sinclair in the category In The News |  Print This Post |  Email This Post

Jim Sinclair’s Commentary

Meanwhile the madness continues. The Western world debt problem has no practical solution. There is no re-jigging of the currency union that is going to bring peace and quiet to a world overspent and over burdened with debt. What can the Secretary of the US Treasury offer to Europe? What can Europe do for itself? All the problems that we have spoken about over these many years have come home to roost.
Gold is chopping hard here but that is what has been anticipated. This action consolidates the market gains we have witnessed, giving basis for a move in the $2000 range.




Jim Sinclair’s Commentary

Now there is something that does not make a depositor or counter party feel warm and fuzzy.

Big US Banks to Be Required to Write ‘Living Wills’
Published: Tuesday, 13 Sep 2011 | 10:47 AM ET
By: Eamon Javers
CNBC Washington, DC Correspondent
The nation’s biggest banks are getting a new homework assignment from Uncle Sam today.
The FDIC was set Tuesday morning to pass new rules requiring insured depository institutions with $50 billion or more in total assets to submit “living wills” describing how the institution would be wound down in an orderly fashion in the event of a crisis.
The new rules were a key part of the Dodd-Frank Wall Street reform legislation passed by Congress in 2010, and are meant to fix a gap regulators saw in the financial system in the 2008 crisis: the public didn’t know what the impact of bank failures would be on the entire financial system, and the banks weren’t prepared to deal with their own failures.
The FDIC proposed a deadline of July 1 2012 for all institutions with $250 billion or more in non-bank assets to file their first plans with the government. Those with between $100 and $250 billion would have until July 1, 2013 to file, and all the rest would be expected to file by Dec. 31, 2013.
FDIC officials briefing reporters on Tuesday morning emphasized that there will be two components to each institution’s living will — public and a private.
The public plan will be a guide for investors about how the institution could be wound down in an orderly fashion, and the confidential piece would be a report to regulators that would include trade secrets and details such as exposure to counterparties and other sensitive information decision makers would need in a crisis.
More…




Jim Sinclair’s Commentary

The most endangered species on the planet is the retiree.

Radical overhaul of military retirement eyed
By Sharyl Attkisson
(CBS News) 
WASHINGTON – The military retirement system has long been considered untouchable – along with Social Security and Medicare. But in these days of soaring deficits, it seems everything is a potential target for budget cutters. A Pentagon-sponsored study says military pensions are no longer untouchable – they’re unaffordable.
CBS News investigative correspondent Sharyl Attkisson reports high-level, closely-held meetings are taking place at the Pentagon regarding a radical proposal to overhaul retirement for the nation’s 1.4 million service members – a bedrock guarantee of military service.
The proposal comes from an influential panel of military advisors called the Defense Business Board. Their plan, laid out in a 24-page presentation “Modernizing the Military Retirement System,” would eliminate the familiar system under which anyone who serves 20 years is eligible for retirement at half their salary. Instead, they’d get a 401k-style plan with government contributions.
They’d have to wait until normal retirement age. It would save $250 billion dollars over 20 years.
Douglas Holtz-Eakin, former director of the Congressional Budget Office says it’s very important that the military attack its retirement issues. “We’re talking about an underfunding that starts to look like hundreds of billions of dollars in the next 20 years. And if you want to maintain the core mission which is to defend the nation and have the strategic capabilities we need, we can’t have all their money tied up in retirement programs.”
More…




Jim Sinclair’s Commentary

After all the drama it will be QE to infinity

Merkel warns on Greece, Obama voices U.S. alarm
By Noah Barkin and Stefano Bernabei
BERLIN/ROME | Tue Sep 13, 2011 7:51am EDT
(Reuters) – German Chancellor Angela Merkel sought on Tuesday to quash talk of an imminent Greek default as the United States voiced fresh concern at the euro zone’s inability to master its debt crisis.
Merkel said in radio interview that Europe was doing everything in its power to avoid a Greek default and urged politicians in her own coalition to weigh their words carefully to avoid creating turmoil on financial markets.
Asked by RBB inforadio whether a Greek default would doom the euro, she answered: “We are using all the tools we have to prevent this. We need to avoid all disorderly processes with regards to the euro.”
Calling Europe’s challenge “historic,” Merkel added that everything must be done to keep the euro zone intact “because we would see domino effects very quickly.”
President Barack Obama expressed his concern in an interview with Spanish journalists published on Tuesday. Treasury Secretary Timothy Geithner will take the unprecedented step of attending a meeting of EU finance ministers in Poland on Friday.
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