by AGXIIK, Silver Doctors:
JPM is about to lose it all with their bad bets on the IR swaps, CDS, derivatives and other manipulative profit centers. They will be destroyed, of that you can be sure, right along with the many other major banks. This is inevitable and Bernanke knows it. QE 3 is worthless to anyone but the money center banks.
There is not enough money in the world or the Fed to stop this. QE 3 is nothing but a delaying tactic since Bernanke has NO AMMO LEFT. NOTHING! He is little more than a drowning man trying to save himself and his notion of the economy by climbing on to the shoulders of his rescuers.
And there are no rescuers coming to save him.
At this point in time I am far beyond caring a rat’s a** about silver and gold manipulation and these smashes that occur in the dark of the night.
I DON’T CARE ANY MORE. It is unimportant and irrelevant to the world situation. If Jim Willie is half right JPM is fatally wounded, Morgan Stanley is slated for the bone yard, the European banks, particularly Spain, will implode even with OMT and all the Draghi Bernanke mini me actions.
Read More @ Silver Doctors
JPM is about to lose it all with their bad bets on the IR swaps, CDS, derivatives and other manipulative profit centers. They will be destroyed, of that you can be sure, right along with the many other major banks. This is inevitable and Bernanke knows it. QE 3 is worthless to anyone but the money center banks.
There is not enough money in the world or the Fed to stop this. QE 3 is nothing but a delaying tactic since Bernanke has NO AMMO LEFT. NOTHING! He is little more than a drowning man trying to save himself and his notion of the economy by climbing on to the shoulders of his rescuers.
And there are no rescuers coming to save him.
At this point in time I am far beyond caring a rat’s a** about silver and gold manipulation and these smashes that occur in the dark of the night.
I DON’T CARE ANY MORE. It is unimportant and irrelevant to the world situation. If Jim Willie is half right JPM is fatally wounded, Morgan Stanley is slated for the bone yard, the European banks, particularly Spain, will implode even with OMT and all the Draghi Bernanke mini me actions.
Read More @ Silver Doctors
Santelli Vs. Liesman; Broken Pipes, Trickle-Down Frowns, And 'Imaginary' Inflation
In a little under seven minutes, the world of CNBC provided something for everyone in this epic confuse-a-rama between Rick Santelli, Steve Liesman, and Brian Sullivan. The president's jab at 'trickle-down' economics (with an eye to Bernanke's recent asset-wealth-inflation efforts) was the premise for the discussion but it went to an 11 on the Spinal Tap amplifier of self-deception and circular logic. The question is initially well-posed and subsequently addressed by Santelli who describes the broken pipeline from the Fed to the bank's reserves that is not allowing trickle-down of Bernanke's largesse. Liesman argues that the lowering of rates helps borrowers (all the middle-class apparently) as they pay lower costs on their debt (seemingly ignoring the fact that Santelli just said the 'flow ain't happening' - and the fact that retail-to-wholesale mortgage spreads are at record highs). This is then followed by Sullivan with his insightful quip that the inflationary by-product of Bernanke is higher costs of food/energy which buffers the benefits of lower interest costs... and that is where Liesman goes into full-propaganda mode...
A Chinese Mega City Is On The Verge Of Bankruptcy
While most "developed world" people have heard of Hong Kong and Macau, far fewer have heard of China's province of Guangdong,
which is somewhat surprising. With over 100 million people, a GDP of
nearly $1 trillion - the biggest of all Chinese provinces, this South
China Sea adjacent territory is perhaps China's most important economic
dynamo. One of the key cities of Guangdong is Dongguan,
which as the map below shows is a stone's throw from Hong Kong, has a
population of nearly 10 million, and has long been considered
Guangdong's boomtown and one of China's richest cities. One notable
feature about Dongguan is that it is home to the New South China Mall,
which is the world's largest. It also happens to be mostly empty ever
since it opened in 2005. Which perhaps is a good segue into this story.
Because while for the most part the city of Dongguan has been a story of
prosperity, a wrinkle has appeared. According to the South China
Morning Post, which cites researchers at Sun Yat-sen University, this city is now on the brink of bankruptcy. How The Fed Crushed China's Ability To Join The Ease-Fest
It will not come as a surprise to anyone who has spent any time reading Zero Hedge (here, here, and here very recently) but now yet another one of our 'crazy fringe blog' non-consensus ideas - the fact that China is cornered by inflation concerns and unable to ease aggressively - has now been confirmed by none other than the Bank of China and Bank of Korea themselves. As the WSJ reports, "The rise in global liquidity could lead to rapid capital inflows into emerging markets including South Korea and China and push up global raw-material prices." The latest round of easing by the U.S. will increase inflationary pressures for emerging-market economies, Mr. Chen said. "This contributes to a monetary-policy dilemma for Chinese authorities", he added. While markets have looked for signs of more forceful action by China's leaders to rekindle growth, some officials attribute the government's caution to fears of reigniting inflation. This confirms previous comments by the PBoC that "A domestic policy may be optimal for the U.S. alone. However at the same time it is not necessarily optimal for the world," he said at the time. "There is a conflict between the U.S. dollar's domestic role and its international settlement role."
by Susanne Posel, Occupy Corporatism:
Senator and self-proclaimed Zionist Joseph Lieberman declared that it was Iran who cyber-attacked Bank of America and JPMorgan Chase in 2011 and began with more frequency this year. Lieberman, as the chairman of the Homeland Security and Government Affairs Committee states that the financial attack was spurned from the state-sponsored anti-Muslim film circulating the Middle East thanks to CIA-operatives al-Qaeda.
Lieberman explains: “I don’t believe these were just hackers. I believe this was done by Iran and the Qods force, which has its own developing cyber-attack capacity. And I believe it was in response to the increasingly strong economic sanctions that the United States and our European allies have put on Iranian financial institutions.”
The US government is planting the propaganda seed that according to “highly classified” documents provided by the Join Chiefs of Staff’s Intelligence Directorate confirm that Iranian hackers are committing cyber-attacks against US financial institutions.
Read More @ OccupyCorporatism.com
Senator and self-proclaimed Zionist Joseph Lieberman declared that it was Iran who cyber-attacked Bank of America and JPMorgan Chase in 2011 and began with more frequency this year. Lieberman, as the chairman of the Homeland Security and Government Affairs Committee states that the financial attack was spurned from the state-sponsored anti-Muslim film circulating the Middle East thanks to CIA-operatives al-Qaeda.
Lieberman explains: “I don’t believe these were just hackers. I believe this was done by Iran and the Qods force, which has its own developing cyber-attack capacity. And I believe it was in response to the increasingly strong economic sanctions that the United States and our European allies have put on Iranian financial institutions.”
The US government is planting the propaganda seed that according to “highly classified” documents provided by the Join Chiefs of Staff’s Intelligence Directorate confirm that Iranian hackers are committing cyber-attacks against US financial institutions.
Read More @ OccupyCorporatism.com
Visualizing The ECB's 'Solar-Systemic' Impact On The Eurozone
Here's everything worth knowing about the euro-system in one huge infographic.
Anglo gold shuts down all South African mines/Another run on Spanish banks/ Rajoy contemplates raiding Spanish pension funds /
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 1 hour ago
Good
evening Ladies and Gentlemen:
It is good to be back.
Gold had a stellar day rising by $27.00 to $1778.30 blowing right
through the resistance level of $1775.00
Silver also had a great day rising by 73 cents to $34.62. This is the
first time in quite awhile that gold and silver rose the day before any
first day notice. Today gold got a great boost from Anglo Gold who
announced they were
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You).
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Recognize Change And React Accordingly
Admin at Jim Rogers Blog - 4 hours ago
“Those who can not adjust to change will be swept aside by it. Those who
recognize change and react accordingly will benefit.” - *in A Gift to My
Children: A Father's Lessons for Life and Investing*
*Jim Rogers is an author, financial commentator and successful
international investor. He has been frequently featured in Time, The New
York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The
Financial Times and is a regular guest on Bloomberg and CNBC.*
Forget the Black or Freckled Swan, Follow The Message of The Market
Eric De Groot at Eric De Groot - 5 hours ago
Black swan, freckled swan, or spotted pig, regardless of the imagery used
to denote doom and gloom fills the seats and generates clicks within the
investment community. Selling doubt as stocks climb a wall of worry is
easier than selling bottled water in a desert. While various negative and
positive divergences paint a picture of intermediate and long-term
vulnerability...
[[ This is a content summary only. Visit my website for full links, other
content, and more! ]]Why The Wealth Effect Won't Support The US 'Recovery'
We,
like Morgan Stanley's Greg Peters, are skeptical of the Fed's apparent
belief that wealth effects can support a struggling recovery. Recent gains are small versus the wealth lost in recent years. More importantly, wealth only matters when it lowers saving.
It seems that weak income growth through the recovery has depressed
saving – stopped saving rising to fully reflect wealth destruction –
which implies wealth increases now will not trigger a typical growth-boosting drop in saving.
With poor fundamentals seemingly trumping central bank policy - as
macro data and bellwether stock warnings highlight the downside risks of
complacency. But, the housing recovery, we hear you cry? Not this time
- given weak income growth; and as far as feeling wealthy, the 'right'
savings rate to achieve that dream remains well beyond most in
anything but the absolute riskiest assets - and implicitly lowers
consumption.GDP And Durable Goods - Heading To Recession?
The
recent release of the final estimate of Q2 GDP, and the September's
Durable Goods Report, confirmed that indeed the economy was far weaker
than the headline releases, and media spin, suggested. While
the media quickly glossed over the surface of the report there were
very important underlying variables that tell us much about the economy
ahead. The problem is that
there is little historical precedent in the U.S. as to whether
maintaining ultra-low interest rate policies, and inducing liquidity,
during a balance sheet deleveraging cycle, actually leads to an
economic recovery. This is particularly troublesome when looking
at a large portion of the population rapidly heading towards retirement
whom will become net drawers versus net contributors to the economic
system. The important point for investors, who have a limited amount of
time to plan and save for retirement, is that "hope" and "getting back to even" are not successful investment strategies.Stocks Ramp, PMs Ramp More, Oil Ramps Most
The
world and their mum will be overjoyed all is fixed again in Spain and
Apple can be bought safely as today's ramp-a-palooza in risk-assets
indicates. However, the 100-pip run in EURUSD which 'correlated-ly'
ramped everything did more damage than good in the long-run as Oil prices surged off their 'see QEternity inflation is only transitory' way. WTI topped $92
(up over 3% off yesterday's lows) as Gold and Silver surged on the day
to end up around 0.25% on the week (in the face of a 0.25%
strengthening in the USD on the week). JPY strength and moreover EUR's
push dragged the USD 0.5% lower from yesterday's peak and provided just
the lift to get the S&P back to Monday's lows, filled a gap in AAPL's chart and lifted the financials ETF briefly back up to unch from pre-FOMC.
Volume and trade size was large as we ramped and drifted once we
topped - which smells a lot like pros selling into a stop-run-driven
strength. Equities pulled back into the close (even as VIX
limped back under 15% down almost 2 vols today) catching down to
risk-asset's slightly less ebullient perspective.Total Donations over the last 3 1/2 years. approx $165.00 (Thank You).
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from TruthNeverTold :
by Graham Summers, Gains Pains & Capital:
Since the Great Crisis began in 2007 the Fed/ Feds have done the following:
- Cutting interest rates from 5.25-0.25% (Sept ’07-today).
- The Bear Stearns deal/ taking on $30 billion in junk mortgages (Mar ’08).
- Opening various lending windows to investment banks (Mar ’08).
- Hank Paulson spends $400 billion on Fannie/ Freddie (Sept ’08).
- The Fed takes over insurance company AIG for $85 billion (Sept ’08).
- The Fed doles out $25 billion for the automakers (Sept ’08)
- The Feds kick off the $700 billion TARP program (Oct ’08)
- The Fed buys commercial paper from non-financial firms (Oct ’08)
- The Fed offers $540 billion to backstop money market funds (Oct ’08)
However, despite this incredible intervention, the economy remains in
the toilet. Indeed, adding to the more evidence that the alleged
“recovery” is in fact a load of BS category… we have the latest survey
of small business owners. Small businesses (50 employees or more)
account for 75% of job creation in the US.
Read More @ GainsPainsCapital.com
by Jamila Trindle, Market Watch:
WASHINGTON–The Commodity Futures Trading Commission fined J.P. Morgan
Chase, N.A. $600,000 for violating limits on speculative positions in
cotton futures markets, the CFTC said Thursday.
The CFTC alleges that J.P. Morgan exceeded the limit on the number of cotton contracts they were allowed to hold between Sept. 15 and Oct. 5, 2010.
J.P. Morgan paid $600,000 to settle the charges without admitting or denying wrongdoing.
J.P. Morgan did not immediately return a request for comment.
Read More @ Market Watch
WASHINGTON–The Commodity Futures Trading Commission fined J.P. Morgan
Chase, N.A. $600,000 for violating limits on speculative positions in
cotton futures markets, the CFTC said Thursday.The CFTC alleges that J.P. Morgan exceeded the limit on the number of cotton contracts they were allowed to hold between Sept. 15 and Oct. 5, 2010.
J.P. Morgan paid $600,000 to settle the charges without admitting or denying wrongdoing.
J.P. Morgan did not immediately return a request for comment.
Read More @ Market Watch
from TruthTube451 :
The duel of words between Iran and Israel rears its ugly head again at the UN General Assembly, with Prime Minister Netanyahu taking the opportunity to slap Tehran with harsh rhetoric. Addressing the chamber, the Israeli leader has called on a red line to be set for Iran’s alledged nuclear drive.
The duel of words between Iran and Israel rears its ugly head again at the UN General Assembly, with Prime Minister Netanyahu taking the opportunity to slap Tehran with harsh rhetoric. Addressing the chamber, the Israeli leader has called on a red line to be set for Iran’s alledged nuclear drive.
from TheDailyBell.com
Be Very Careful, Beloved Spain … Two weeks ago I was interviewed by the Catalan newspaper El Punt Avui. I said it would be unthinkable for the Spanish state to stop Catalan secession by military force. Such action would violate EU Treaties and lead to Spain’s suspension from the European Union. You do not do such things in the early 21st Century. “No pots ser membre de la UE si utilitzes la força” was the headline. I may have underestimated the vigour of the Spanish officer corps. First we have the robust comments of Colonel Francisco Alaman comparing the crisis to 1936 and vowing to crush Catalan nationalists, described as “vultures”. “Independence for Catalonia? Over my dead body. Spain is not Yugoslavia or Belgium. Even if the lion is sleeping, don’t provoke the lion, because he will show the ferocity proven over centuries,” he said. – UK Telegraph
Dominant Social Theme: The riots have begun again. What a surprise.
Free-Market Analysis: Ambrose Evans-Pritchard reports on Spain and what he provides us with is a look at the underbelly of Spanish despair that you won’t read about in other similar mainstream reporting.
What Evans-Pritchard provides us with, in fact, is the bloody sociopathic grin that lurks under the current, escalating social tension. The grin is that of one collectively plastered across the faces of the armed forces. It is the same in Britain and soon will be, no doubt, in France and Germany.
Read More @ TheDailyBell.com
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You).
Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
Be Very Careful, Beloved Spain … Two weeks ago I was interviewed by the Catalan newspaper El Punt Avui. I said it would be unthinkable for the Spanish state to stop Catalan secession by military force. Such action would violate EU Treaties and lead to Spain’s suspension from the European Union. You do not do such things in the early 21st Century. “No pots ser membre de la UE si utilitzes la força” was the headline. I may have underestimated the vigour of the Spanish officer corps. First we have the robust comments of Colonel Francisco Alaman comparing the crisis to 1936 and vowing to crush Catalan nationalists, described as “vultures”. “Independence for Catalonia? Over my dead body. Spain is not Yugoslavia or Belgium. Even if the lion is sleeping, don’t provoke the lion, because he will show the ferocity proven over centuries,” he said. – UK Telegraph
Dominant Social Theme: The riots have begun again. What a surprise.
Free-Market Analysis: Ambrose Evans-Pritchard reports on Spain and what he provides us with is a look at the underbelly of Spanish despair that you won’t read about in other similar mainstream reporting.
What Evans-Pritchard provides us with, in fact, is the bloody sociopathic grin that lurks under the current, escalating social tension. The grin is that of one collectively plastered across the faces of the armed forces. It is the same in Britain and soon will be, no doubt, in France and Germany.
Read More @ TheDailyBell.com
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You).
Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
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