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Dear CIGAs,
My Dear Friends,
I was interviewed today concerning the most powerful body in the financial world that now holds in its hands the near future of all markets, from currencies to commodities, based on a single edict to be given.
The interview is being processed and should be posted here later this evening.
This organization supersedes all governments and central banks today in terms of the financial power they edict. This organization can have a greater impact on your pocketbook than the FASB did when they killed "true value" accounting.
This body is made up of the key players of the five largest banks in the USA and other countries. This body by their actions this week will guarantee QE to infinity.
This is relevant to all your assets, yes all. If you have the time listen to it please. If you don’t have the time listen to it please. If you don’t listen to it do not blame me when all hell breaks loose six months from now.
Not one word about this body was on the airwaves today, yet this group by a simple decision rules the financial plant. They will be making this edict in just a few days. They have to do it again this year. It is then that you know what will hit the fan.
I feel this is it for jsmineset.com tonight. I do not want to write another word and detract from the revelations you will hear.
Your financial future, even if you have never heard of them, is in this organization’s hands. Check in later for the interview. If you don’t check in your finances might just check out.
Please remember you have been informed of this impending edict as a service to the community.
Respectfully,
Jim
Maybe in 2013 you should panic and certainly by 2014 you should be panicked but 2012 will be better. - in CNBC Related, SPDR S&P 500 Index ETF (SPY), iShares MSCI Emerging Markets Index ETF (EEM) *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.*
Since the spike in VIX in October of last year, short-dated volatility (and correlation) has dropped significantly,
but the vol term-structure has steepened, and long-dated volatility
remains stubbornly high. Goldman Sachs updates their volatility debt
cycle thesis today and so far we are following the typical cycle
post-volatility-spike - realized vols drop, short-term implied vols
drop, term structure steepens, long-term vols drop - leaving them
focused on both the implications of the current low levels of short-term
vol and the high-levels of long-term vol. In brief, short-term volatility reflects very closely the current macro environment (GDP growth, ISM, high-yield, and Goldman's models) but longer-dated volatility trades significantly worse. The
volatility (variance swaps) market is expecting realized volatility to
be very high over the next 5-10 years - the only time this has
happened was during The Great Depression. Professionals remain
anxiously aware that the global debt super-cycle has ended and that we
face deleveraging and deflationary pressures for years to come,
short-dated vol will continue to ebb and flow with each band-aid and
risk flare but investors deep-down know that the 'big one' remains
around the corner. Although markets are in a healthy state at the moment
it would only take a relatively mild cross-wind to expose the problems again and vol markets reflect this despite what the mainstream media's view of the fear index tells us.
US
equity markets went sideways to higher after the European close on low
volumes and minimal support from broad risk drivers in general (with
SPX bouncing off 1300). HYG tracked ES (the e-mini S&P 500 futures
contract) higher as it tried to get back to unchanged (during an
afternoon of notably smaller average trade size until the close which
suggests covering by bigger players). HY and IG credit markets were not
as ebullient as stocks and into the close HYG sold off relatively well
to catch back down with HY's weakness on the day. Treasuries,
credit, FX, and commodities all closed near the middle of the day's
range while ES managed to get back near its highs (with volumes down 15% from Friday and near the lowest of the year so far).
Financials underperformed once again (as Tech was the only sector in
the green by the close). Treasury yields helped support some of the
rally in the afternoon in US equities as 30Y shifted from -11bps to
-5bps by the close but overall Treasuries outperformed (stocks should be
down more on a beta basis given bonds move). JPY was the outlier
today, stronger vs USD by 0.46% from Friday while elsewhere in FX, the
USD (+0.4% from Friday) lost some of its gains against the majors after
the European close with EURUSD back above 1.31 by the close. Gold (with its pending death cross to match SPX's golden cross)
just outperformed its commodity peers (with oil close behind) though
they all lost ground as USD strengthened with Copper and Silver
underperforming. VIX gained about 1 vol from Friday but leaked lower by
around 1 vol from its opening peak above 20.
Dear CIGAs,
The following interview with Ellis Martin of
www.EllisMartinReport.com covers in detail the impending undeclared
default of 5 major US banks this week by the International Swaps and
Derivatives Association.
This even has the potential to cause a second financial crisis that
would require significant financial intervention. If you have time to
spare, listen to this interview. If you don’t have time to spare, listen
to it anyway.
My Dear Friends,
I was interviewed today concerning the most powerful body in the financial world that now holds in its hands the near future of all markets, from currencies to commodities, based on a single edict to be given.
The interview is being processed and should be posted here later this evening.
This organization supersedes all governments and central banks today in terms of the financial power they edict. This organization can have a greater impact on your pocketbook than the FASB did when they killed "true value" accounting.
This body is made up of the key players of the five largest banks in the USA and other countries. This body by their actions this week will guarantee QE to infinity.
This is relevant to all your assets, yes all. If you have the time listen to it please. If you don’t have the time listen to it please. If you don’t listen to it do not blame me when all hell breaks loose six months from now.
Not one word about this body was on the airwaves today, yet this group by a simple decision rules the financial plant. They will be making this edict in just a few days. They have to do it again this year. It is then that you know what will hit the fan.
I feel this is it for jsmineset.com tonight. I do not want to write another word and detract from the revelations you will hear.
Your financial future, even if you have never heard of them, is in this organization’s hands. Check in later for the interview. If you don’t check in your finances might just check out.
Please remember you have been informed of this impending edict as a service to the community.
Respectfully,
Jim
Finance Is Going To Be A Terrible Place To Work In The Next 10 Years
Admin at Jim Rogers Blog - 2 hours ago
Finance is going to be a terrible place to be for the next 10 years. No new
big bonuses. - in CNBC
*Related, Bank Of America (BAC), JP Morgan (JPM), Citigroup (C), Morgan
Stanley (MS), Deutsche Bank (DB)*
*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.*
You Should Panic By 2013 Or 2014
Admin at Jim Rogers Blog - 4 hours ago
Maybe in 2013 you should panic and certainly by 2014 you should be panicked but 2012 will be better. - in CNBC Related, SPDR S&P 500 Index ETF (SPY), iShares MSCI Emerging Markets Index ETF (EEM) *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.*
from The Economic Collapse Blog:
How
would you feel if someone told you that one of the largest banks on
Wall Street makes more money whenever the number of Americans on food
stamps goes up? Unfortunately, this is something that is actually true.
In the United States today, one out of every seven Americans is on
food stamps. In fact, the number of Americans on food stamps has
increased by a whopping 14 million since Barack Obama entered the White
House. All of this makes JP Morgan very happy, because JP Morgan has
been making money by the boatload on food stamps. Right now, JP Morgan
Chase issues food stamp debit cards in 26 U.S. states and the District
of Columbia. The division of JP Morgan Chase that issues these debit
cards made an eye-popping 5.47 billion dollars
in net revenue during 2010. JP Morgan is paid per customer, so when
the number of Americans on food stamps goes up, they make more money.
But doesn’t this give JP Morgan an incentive to try to keep the number
of Americans on food stamps as high as possible? Of course it does. JP
Morgan is interested in making money as rapidly as possible. If JP
Morgan can get more Americans enrolled in the food stamp program and
keep them enrolled in it for as long as possible, that is good for
business.
Read More @ TheEconomicCollapseBlog.com
...No, literally truckloads. Our friends at demonocracy.info have
been kind enough to put together an infographic that explains the
European bailout in simple, visual terms, that even the most innocent
of FTL truckers can grasp without much exertion, for the simple reason
that it shows all the bailouts amounts in terms of trucks of cash. And
here is the kicker: one would need a 13 lane highway, filled
with trucks bumper to bumper, stretching for about 3 kilometers to
represent the €2.91 trillion in total amounts owed by the PIIGS and
their citizens (whether voluntarily or not... actually make
that involuntarily) to Europe's largest banks. What is most
frightening is what is not shown: just how it is that the world's
central banks are keeping all of these banks propped up. Because sooner
or later all this money will be discovered to have been fatally
misallocated. Then the real bailout cost will become all too evident,
and just like in the US, it will be in the double digit trillions.
Which means the metaphorical highway of trucks full of cash will
stretch on for kilometers and kilometers and so on (or miles, for the
naive US-based truckers). But since that day is in the future, there is
no reason to worry about it.
Growth.
It's what every economist and politician wants. If we get 'back to
growth', servicing debts both private and sovereign become much easier.
And life will return to normal (for a few more years). There is growing
evidence that a major US policy shift is underway to boost growth.
Growth that will create millions of new jobs and raise real GDP. While
that's welcome news to just about everyone, the story is much less
appealing when one understands the cost at which such growth comes. Are
we better off if a near-term recovery comes at the expense of our
future security? The prudent among us would disagree.
Yes,
it has happened before, but since truth is timeless, we were not
surprised to find that it has been "leaked" again, in this timeless clip
from TheOnion which explains everything one needs to know about the
upcoming "elections"
How
would you feel if someone told you that one of the largest banks on
Wall Street makes more money whenever the number of Americans on food
stamps goes up? Unfortunately, this is something that is actually true.
In the United States today, one out of every seven Americans is on
food stamps. In fact, the number of Americans on food stamps has
increased by a whopping 14 million since Barack Obama entered the White
House. All of this makes JP Morgan very happy, because JP Morgan has
been making money by the boatload on food stamps. Right now, JP Morgan
Chase issues food stamp debit cards in 26 U.S. states and the District
of Columbia. The division of JP Morgan Chase that issues these debit
cards made an eye-popping 5.47 billion dollars
in net revenue during 2010. JP Morgan is paid per customer, so when
the number of Americans on food stamps goes up, they make more money.
But doesn’t this give JP Morgan an incentive to try to keep the number
of Americans on food stamps as high as possible? Of course it does. JP
Morgan is interested in making money as rapidly as possible. If JP
Morgan can get more Americans enrolled in the food stamp program and
keep them enrolled in it for as long as possible, that is good for
business.Read More @ TheEconomicCollapseBlog.com
European Bailout Infographic: Presenting The Truckloads Of Cash Needed To Rescue The Insolvent PIIGS
...No, literally truckloads. Our friends at demonocracy.info have
been kind enough to put together an infographic that explains the
European bailout in simple, visual terms, that even the most innocent
of FTL truckers can grasp without much exertion, for the simple reason
that it shows all the bailouts amounts in terms of trucks of cash. And
here is the kicker: one would need a 13 lane highway, filled
with trucks bumper to bumper, stretching for about 3 kilometers to
represent the €2.91 trillion in total amounts owed by the PIIGS and
their citizens (whether voluntarily or not... actually make
that involuntarily) to Europe's largest banks. What is most
frightening is what is not shown: just how it is that the world's
central banks are keeping all of these banks propped up. Because sooner
or later all this money will be discovered to have been fatally
misallocated. Then the real bailout cost will become all too evident,
and just like in the US, it will be in the double digit trillions.
Which means the metaphorical highway of trucks full of cash will
stretch on for kilometers and kilometers and so on (or miles, for the
naive US-based truckers). But since that day is in the future, there is
no reason to worry about it.Guest Post: The Price of Growth
Growth.
It's what every economist and politician wants. If we get 'back to
growth', servicing debts both private and sovereign become much easier.
And life will return to normal (for a few more years). There is growing
evidence that a major US policy shift is underway to boost growth.
Growth that will create millions of new jobs and raise real GDP. While
that's welcome news to just about everyone, the story is much less
appealing when one understands the cost at which such growth comes. Are
we better off if a near-term recovery comes at the expense of our
future security? The prudent among us would disagree.Diebold Leaks Election Results Early... Again
Yes,
it has happened before, but since truth is timeless, we were not
surprised to find that it has been "leaked" again, in this timeless clip
from TheOnion which explains everything one needs to know about the
upcoming "elections"Long-Dated VIX Still Priced For Depression Risk
Since the spike in VIX in October of last year, short-dated volatility (and correlation) has dropped significantly,
but the vol term-structure has steepened, and long-dated volatility
remains stubbornly high. Goldman Sachs updates their volatility debt
cycle thesis today and so far we are following the typical cycle
post-volatility-spike - realized vols drop, short-term implied vols
drop, term structure steepens, long-term vols drop - leaving them
focused on both the implications of the current low levels of short-term
vol and the high-levels of long-term vol. In brief, short-term volatility reflects very closely the current macro environment (GDP growth, ISM, high-yield, and Goldman's models) but longer-dated volatility trades significantly worse. The
volatility (variance swaps) market is expecting realized volatility to
be very high over the next 5-10 years - the only time this has
happened was during The Great Depression. Professionals remain
anxiously aware that the global debt super-cycle has ended and that we
face deleveraging and deflationary pressures for years to come,
short-dated vol will continue to ebb and flow with each band-aid and
risk flare but investors deep-down know that the 'big one' remains
around the corner. Although markets are in a healthy state at the moment
it would only take a relatively mild cross-wind to expose the problems again and vol markets reflect this despite what the mainstream media's view of the fear index tells us.Credit And Financials Underperform As S&P Holds 1300
US
equity markets went sideways to higher after the European close on low
volumes and minimal support from broad risk drivers in general (with
SPX bouncing off 1300). HYG tracked ES (the e-mini S&P 500 futures
contract) higher as it tried to get back to unchanged (during an
afternoon of notably smaller average trade size until the close which
suggests covering by bigger players). HY and IG credit markets were not
as ebullient as stocks and into the close HYG sold off relatively well
to catch back down with HY's weakness on the day. Treasuries,
credit, FX, and commodities all closed near the middle of the day's
range while ES managed to get back near its highs (with volumes down 15% from Friday and near the lowest of the year so far).
Financials underperformed once again (as Tech was the only sector in
the green by the close). Treasury yields helped support some of the
rally in the afternoon in US equities as 30Y shifted from -11bps to
-5bps by the close but overall Treasuries outperformed (stocks should be
down more on a beta basis given bonds move). JPY was the outlier
today, stronger vs USD by 0.46% from Friday while elsewhere in FX, the
USD (+0.4% from Friday) lost some of its gains against the majors after
the European close with EURUSD back above 1.31 by the close. Gold (with its pending death cross to match SPX's golden cross)
just outperformed its commodity peers (with oil close behind) though
they all lost ground as USD strengthened with Copper and Silver
underperforming. VIX gained about 1 vol from Friday but leaked lower by
around 1 vol from its opening peak above 20.Good Gendarme: Recently Downgraded France Opposes German Demands For Greek "Tutelage"
Whowouldathunk it - beggars can be choosers. The country which just slashed its economic outlook, and which depends on GermAAAn capital and goodwill to preserve its well-being in the Eurozone, has just decided to pull a good gendarme to Germany's bad [insert the blank] and has voiced its opposition to German demands stripping Greece of its fiscal sovereignty.- SARKOZY REJECTS GREECE CEDING BUDGET MANAGEMENT TO EU
- SARKOZY SAYS NO QUESTION OF PUTTING GREECE `UNDER TUTELAGE'
- SARKOZY SAYS EU TAKEOVER OF GREECE WOULD NOT BE REASONABLE, "DEMOCRATIC"
Commerzbank CEO Says Greece Should Exit Eurozone
As if Merkel did not make it all too clear over the weekend that Germany no longer wishes Greece to be part of the Eurozone, and that the ball is now in Athens' court to accept what is a glaringly unfeasible demand, i.e., to hand over fiscal sovereignty over to "Europe" with Merkel having the cover of saying it did everything in its power to keep Greece in the union, here comes Commerzbank's CEO Mueller to pick up where Merkel left off:- COMMERZBANK'S MUELLER SAYS GREECE SHOULD EXIT EURO ZONE
- COMMERZBANK'S MUELLER SPOKE TO DEUTSCHES ANLEGER FERNSEHEN
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