Sunday, March 31, 2013
Saturday, March 30, 2013
Cyprus Changed Everything, How To Safeguard Your Money
This is a must-read article on counterparty and solvency risk. What's safe is safe--until it isn't safe anymore.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/31_Cyprus_Changed_Everything%2C_How_To_Safeguard_Your_Money.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/31_Cyprus_Changed_Everything%2C_How_To_Safeguard_Your_Money.html
Sorry, Mates, Strictly Business: Australia Wants To Cut Out US Dollar In Trade With China
Not only are US unfriendlies moving away from the USDollar, but so are America's allies. They see what is going on with Fed monetary policies. So should the American public.
http://www.ibtimes.com/sorry-mates-strictly-business-australia-wants-cut-out-us-dollar-trade-china-1161287
http://www.ibtimes.com/sorry-mates-strictly-business-australia-wants-cut-out-us-dollar-trade-china-1161287
Visualizing 193 Years Of Currency Regimes & Crises
As illustrated by this chart, currency wars have been and will continue to shape global monetary policies over the last two centuries. The beneficiary is a rising price of gold, while its status as a currency of last resort continues unabated--for over 6000 years.
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/04/20130330_GSFX.jpg
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/04/20130330_GSFX.jpg
Jim Sinclair on "Getting Out of the System"
Dear CIGAs,- Jim Sinclair
We will expand on this over time, but you are “out of the system” if:
1. Your equities are held in certificate form.
2. You have no Federal retirement funds.
3. You have no CDs and investments in bonds.
4. You have modest money deposited among selected BRICs countries.
5. You store your own precious metals.
6. You have no mortgage obligations.
7. You keep cash on hand for 6 months expenses.
8. You have no consumer debt at all.
9. You have a small hobby farm for protein and veggies outside of where you are living with no mortgage debt, set up green.
10. You have a gas, diesel or electric car with high fuel mileage for the farm.
11. You have a generator with large fuel capacity for the farm.
12. You do not live in a major metropolitan area.
Friday, March 29, 2013
Senior SAC Trader Arrested, Given Perp Walk
Another slap on the wrist is forthcoming, with the Big Kahuna still untouchable. I wonder how much a get-out-jail-free card is worth these days for hedgies.
http://www.zerohedge.com/news/2013-03-29/senior-sac-trader-arrested-given-perp-walk
http://www.zerohedge.com/news/2013-03-29/senior-sac-trader-arrested-given-perp-walk
Resolving Globally Active, Systemically Important, Financial Institutions Federal Deposit Insurance Corporation and the Bank of England
The $64 trillion question is who are the "unsecured creditors"? If they are depositors over the guaranteed limits, expect corporations and individuals to park their money elsewhere.
http://www.fdic.gov/about/srac/2012/gsifi.pdf
http://www.fdic.gov/about/srac/2012/gsifi.pdf
Thursday, March 28, 2013
What We Are Now Seeing Is Unprecedented In World History
Alright, this prediction from Greyerz is even getting me depressed.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/28_What_We_Are_Now_Seeing_Is_Unprecedented_In_World_History.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/28_What_We_Are_Now_Seeing_Is_Unprecedented_In_World_History.html
Wednesday, March 27, 2013
China, Brazil sign trade, currency deal ahead of BRICS summit
This is more evidence that the reserve currency status of the USDollar is dissipating.
http://in.reuters.com/article/2013/03/26/brics-summit-china-brazil-currencies-idINDEE92P08O20130326
http://in.reuters.com/article/2013/03/26/brics-summit-china-brazil-currencies-idINDEE92P08O20130326
Tuesday, March 26, 2013
Reverse Conversions: A Primer
You think you understand how Wall Street naked shorts a stock into oblivion? Think again.
http://antisocialmedia.net/media/reverseconverts-primer.pdf
http://antisocialmedia.net/media/reverseconverts-primer.pdf
Saturday, March 23, 2013
Russian Billionaire In Exile Boris Berezovsky Commits Suicide - The First Cyprus Casualty?
As predicted, the Cyprus theft of deposits will turn violent.
http://www.zerohedge.com/news/2013-03-23/russian-billionaire-exile-boris-berezovsky-commits-suicide
http://www.zerohedge.com/news/2013-03-23/russian-billionaire-exile-boris-berezovsky-commits-suicide
Friday, March 22, 2013
Texas considers repatriating university pension fund's gold
This is happening as I predicted here earlier this year and here in 2011. A couple years ago, Kyle Bass initiated UTIMCO's sales of the GLD ETF, and purchase of physical gold bullion to usurp counterparty risk. I applauded the move, but I suggested UTIMCO didn't go far enough, as the gold bars reside in New York, not in Austin, TX.
As it stands, Texas Governor Rick Perry and the legislature are seeking repatriation of Texas' gold. Smart move, y'all.
http://www.gata.org/node/12370
As it stands, Texas Governor Rick Perry and the legislature are seeking repatriation of Texas' gold. Smart move, y'all.
http://www.gata.org/node/12370
Thursday, March 21, 2013
Sinclair - Lagarde’s IMF Disaster Forces Bernanke Out Of Fed
Ron Paul's End the Fed campaign may come into fruition sooner than later.
Anybody find it coincidental that former IMF Managing Director Dominique Strauss-Kahn's character was assassinated with trumped up rape charges, and now current IMF MD Christine LaGarde is similarly being investigated for alleged illegal payoffs? Being a central banker isn't what it used to be, and Ben Bernanke is already considering exit strategies.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/21_Sinclair_-_Lagardes_IMF_Disaster_Forces_Bernanke_Out_Of_Fed.html
Anybody find it coincidental that former IMF Managing Director Dominique Strauss-Kahn's character was assassinated with trumped up rape charges, and now current IMF MD Christine LaGarde is similarly being investigated for alleged illegal payoffs? Being a central banker isn't what it used to be, and Ben Bernanke is already considering exit strategies.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/21_Sinclair_-_Lagardes_IMF_Disaster_Forces_Bernanke_Out_Of_Fed.html
US Begins Regulating BitCoin, Will Apply "Money Laundering" Rules To Virtual Transactions
I saw this coming a mile away. It was only a matter of time before monetary authorities would target alternative currencies like BitCoin. They've been bombing physical gold and silver for decades, so crushing virtual currencies was a natural progression. Good luck, BitCoin. You're going to need it.
http://www.zerohedge.com/news/2013-03-21/us-begins-regulating-bitcoin-will-consider-virtual-transactions-money-laundering
http://www.zerohedge.com/news/2013-03-21/us-begins-regulating-bitcoin-will-consider-virtual-transactions-money-laundering
Wednesday, March 20, 2013
Japanese Exports Drop More Than Expected Smashing Adj. Trade Balance To New Record Low
In the "we saw it coming a mile away" category, Japan, Inc. is sinking into the abyss as exports plummet.
http://www.zerohedge.com/news/2013-03-20/japanese-exports-drop-more-expected-smashing-adj-trade-balance-new-record-low
http://www.zerohedge.com/news/2013-03-20/japanese-exports-drop-more-expected-smashing-adj-trade-balance-new-record-low
'Europe's Citizens Now Have to Fear for Their Money'
This guy Bofinger has a lot of balls. I'll leave it at that.
http://www.spiegel.de/international/europe/interview-with-german-economist-peter-bofinger-on-perils-of-cyprus-bailout-a-889594.html
http://www.spiegel.de/international/europe/interview-with-german-economist-peter-bofinger-on-perils-of-cyprus-bailout-a-889594.html
Get Your Assets out of the Banks – NOW
A friend found this very pertinent and timely suggestive article.
http://goldswitzerland.com/get-your-assets-out-of-the-banks-now/print/
http://goldswitzerland.com/get-your-assets-out-of-the-banks-now/print/
Tuesday, March 19, 2013
US Deposits In Perspective: $25 Billion In Insurance, $9,283 Billion In Deposits; $297,514 Billion In Derivatives
http://www.zerohedge.com/news/2013-03-19/us-deposits-perspective-25-billion-insurance-9283-billion-deposits-297514-billion-de
The $25 billion in touted deposit insurance is supposed to preserve and protect (granted not in their entirety) some $9,283 billion in total US deposits. A far bigger problem, however, is when one considers the "asset" side of the US banks' ledger: remember deposits are unsecured liabilities. And for US banks, sadly, over the counter derivatives represent the vast majority of "off the books" assets. According to the latest OCC quarterly report, the total derivative notional outstanding of the Top 25 holding companies is $297,514 billion, or nearly $300 trillion. In other words there are 32 times more notional derivatives than there are total deposits, while the ratio of gross derivatives to deposit insurance is a concerning 11,900-to-1.
Monday, March 18, 2013
Former CEO Of Calpers Indicted On Financial Fraud Scheme Charges
And the hits (or $hits) just keep on comin'...and another reminder that crime does pay--as long as you work on Wall Street.
http://www.zerohedge.com/news/2013-03-18/former-ceo-calpers-charged-financial-fraud
http://www.zerohedge.com/news/2013-03-18/former-ceo-calpers-charged-financial-fraud
Saturday, March 16, 2013
Wednesday, March 13, 2013
1936 Redux - It's Really Never Different This Time
The take away: look out below when Wall Street is pumping stocks.
http://www.zerohedge.com/news/2013-03-14/1936-redux-its-really-never-different-time
http://www.zerohedge.com/news/2013-03-14/1936-redux-its-really-never-different-time
CFTC Investigating London Gold, Silver Price Fixing For Manipulation
Another false flag to appease the "conspiracy theorist bloggers."
http://www.zerohedge.com/news/2013-03-13/cftc-investigating-london-gold-silver-price-fixing-manipulation
http://www.zerohedge.com/news/2013-03-13/cftc-investigating-london-gold-silver-price-fixing-manipulation
Tuesday, March 12, 2013
Japan To Hike Utility Prices By 14-19% As Inflation Surges In All The Wrong Places
The debate between inflation vs. deflation is a false choice. This has been a running theme of mine: with currency debasement, inflation will soar on items we need (food, energy), while deflation will materialize for things we don't need (a second car, a boat, a second home in the desert) as the economy continues to deteriorate.
http://www.zerohedge.com/news/2013-03-12/japan-hike-utility-prices-14-19-inflation-surges-all-wrong-places
http://www.zerohedge.com/news/2013-03-12/japan-hike-utility-prices-14-19-inflation-surges-all-wrong-places
David Stockman On "The Great Deformation" And The US Treasury As "The M&A Department Of Goldman Sachs"
David Stockman bashes the GOP and Democrats with equal aplomb.
http://www.zerohedge.com/news/2013-03-12/david-stockman-great-deformation-and-us-treasury-ma-department-goldman-sachs
http://www.zerohedge.com/news/2013-03-12/david-stockman-great-deformation-and-us-treasury-ma-department-goldman-sachs
Monday, March 11, 2013
AF removes RPA airstrike number from summary
When in doubt, re-write history. When questioned, change the facts. 1984 is here.
http://www.airforcetimes.com/news/2013/03/air-force-drone-airstrike-summary-030813
http://www.airforcetimes.com/news/2013/03/air-force-drone-airstrike-summary-030813
Norway Fund Flees Currencies Tainted by Stimulus Addiction
The Norwegian sovereign wealth fund sees what we see: over-indebted developed countries will continue to debase their respective currencies as far as the eye can see in a currency war with no winners.
http://www.businessweek.com/news/2013-03-10/norway-oil-fund-flees-currencies-tainted-by-stimulus-addictions
http://www.businessweek.com/news/2013-03-10/norway-oil-fund-flees-currencies-tainted-by-stimulus-addictions
SHALE AND WALL STREET: WAS THE DECLINE IN NATURAL GAS PRICES ORCHESTRATED?
Technological advances (such as horizontal drilling and fracturing) have enabled natural gas and oil companies to increase production levels. But since natural resources are finite, the increased productions rates don't automatically increase reserves--and won't extend their production lives. In other words, production forecasts will proven to be overly optimistic.
Hence, the thesis of a renaissance in US energy production will be short-lived. Which means our debts and deficits still have to be addressed, because energy production alone will not improve our economy in the long-term, as the cheerleaders insist. We won't magically grow our economy from increased energy exports--because there isn't as much oil as the pundits have glowingly predicted.
http://shalebubble.org/wp-content/uploads/2013/02/SWS-report-FINAL.pdf
Hence, the thesis of a renaissance in US energy production will be short-lived. Which means our debts and deficits still have to be addressed, because energy production alone will not improve our economy in the long-term, as the cheerleaders insist. We won't magically grow our economy from increased energy exports--because there isn't as much oil as the pundits have glowingly predicted.
http://shalebubble.org/wp-content/uploads/2013/02/SWS-report-FINAL.pdf
Sunday, March 10, 2013
Friday, March 8, 2013
Thursday, March 7, 2013
How Many Billions Of Drug-Laundered Money Does It Take To Shut Down A Bank?
http://www.zerohedge.com/news/2013-03-07/how-many-billions-drug-laundered-money-does-it-take-shut-down-bank
"if you're caught with an ounce of cocaine, the chances are good you're going to go to jail... for the rest of your life. But evidently, if you launder nearly a billion dollars for drug cartels and violate our international sanctions, your company pays a fine and you go home and sleep in your own bed at night - I think that's fundamentally wrong." - Elizabeth Warren
Biggest Wealth On Planet Now Entering Gold & Silver Markets
I talked to Rick Rule at one of the Hard Assets conference. He's definitely a gold bug, and a former Goldman Sachs guy. If he says big money is looking to move into gold, he's not talking about Joey Six-Pack's financial advisor.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/7_Biggest_Wealth_On_Planet_Now_Entering_Gold_%26_Silver_Markets.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/7_Biggest_Wealth_On_Planet_Now_Entering_Gold_%26_Silver_Markets.html
Volcker: Fed Faces Tough Job of Removing the Punch Bowl
Former Fed Chairman Paul Volcker is speaking the truth on the difficulty of the Fed reining in stimulus. It's the politically correct speak for "QE to infinity." He's saying it--without saying it--because he can't say it.
http://www.moneynews.com/StreetTalk/Volcker-Fed-Punch-Bowl/2013/03/04/id/493013?s=al&promo_code=12A9D-1
http://www.moneynews.com/StreetTalk/Volcker-Fed-Punch-Bowl/2013/03/04/id/493013?s=al&promo_code=12A9D-1
Korea Joins Russia, Kazakhstan in Boosting Gold Holdings
Yes, central banks are buying gold at a record pace. And just because George Soros is selling his GLD ETF holdings (paper gold), doesn't mean he isn't accumulating the physical metal. This is just another head fake by the media attempting to scare weak hands out of their physical gold holdings. Oh, and Goldman Sachs is telling clients gold will decline. That's a contrarian signal that it's time to buy. After all, we all know how Goldman Sachs takes care of their clients above their own proprietary trading, right?
http://www.bloomberg.com/news/2013-03-05/bank-of-korea-boosts-gold-reserves-as-central-banks-buy.html
http://www.bloomberg.com/news/2013-03-05/bank-of-korea-boosts-gold-reserves-as-central-banks-buy.html
Transcript: Attorney General Eric Holder on 'Too Big to Jail'
http://www.americanbanker.com/issues/178_45/transcript-attorney-general-eric-holder-on-too-big-to-jail-1057295-1.html?zkPrintable=1&nopagination=1
But I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if we do prosecute — if we do bring a criminal charge — it will have a negative impact on the national economy, perhaps even the world economy. I think that is a function of the fact that some of these institutions have become too large. - US Attorney General, Eric Holder
Public College Tuition Soars By Most Ever (Or Searching For Deflation In All The Wrong Places)
http://www.zerohedge.com/news/2013-03-06/public-college-tuition-soars-most-ever-or-searching-deflation-all-wrong-places
As the title, and chart, both imply, the simple reason why college tuition is up 1200% in 35 years, while healthcare fees have soared by a neat 600% or double the official cumulative inflation, is two words: "cheap credit."
The average amount that students at public colleges paid in tuition, after state and institutional grants and scholarships, climbed 8.3% last year, the biggest jump on record, according to a report based on data from all public institutions in all 50 states to be released Wednesday by the State Higher Education Executive Officers Association. Median tuition rose 4.5%.
Wednesday, March 6, 2013
Jim Sinclair - Paper Markets To Disappear As Gold War Rages
Just to give you a background on Jim Sinclair, he declared gold would be $1650 when it was under $300 ten years ago. Think about that for a minute, and how outlandish that sounds to an untrained eye. Lo and behold, he was right, as gold went beyond his price target all the way up to $1923 in 2011.
If you choose to dismiss it, realize that if you had $1000 of gold back then, you'd have $6000 today. Or $1 million then would be worth $6 million today. In other words, the appreciation scales up, and if anybody had followed his advice, they'd be in a much better place today. Sinclair's call was not insignificant. He talks the talk, and walks the walk.
Sinclair is now saying the next upside target is $3500 and higher, which is equally hyperbolic, right? Not really. A move from $280 to $1650 is huge, a six-fold rise. Getting to $3500 from here is merely a double. And the Fed is printing many more trillions today than they did back in 2002. That price target, as crazy as it sounds initially, is not far-fetched at all when looking through the prism of the trillions in currency units the world's central banks are creating. In a currency war, the race to debase is extremely constructive for the price of gold.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/6_Jim_Sinclair_-_Paper_Markets_To_Disappear_As_Gold_War_Rages.html
If you choose to dismiss it, realize that if you had $1000 of gold back then, you'd have $6000 today. Or $1 million then would be worth $6 million today. In other words, the appreciation scales up, and if anybody had followed his advice, they'd be in a much better place today. Sinclair's call was not insignificant. He talks the talk, and walks the walk.
Sinclair is now saying the next upside target is $3500 and higher, which is equally hyperbolic, right? Not really. A move from $280 to $1650 is huge, a six-fold rise. Getting to $3500 from here is merely a double. And the Fed is printing many more trillions today than they did back in 2002. That price target, as crazy as it sounds initially, is not far-fetched at all when looking through the prism of the trillions in currency units the world's central banks are creating. In a currency war, the race to debase is extremely constructive for the price of gold.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/6_Jim_Sinclair_-_Paper_Markets_To_Disappear_As_Gold_War_Rages.html
Tuesday, March 5, 2013
Gold And The Next Great Monetary Easing
Wow, a Morgan Stanley analyst is bullish on gold. That's enough to get one fired on Wall Street.
http://www.zerohedge.com/news/2013-03-05/gold-and-next-great-monetary-easing
http://www.zerohedge.com/news/2013-03-05/gold-and-next-great-monetary-easing
Monday, March 4, 2013
Zuma warns west’s ‘colonial’ corporates
Good for Africa--and China. Bad for America and Europe.
http://www.ft.com/intl/cms/s/0/7824cc28-83ed-11e2-b700-00144feabdc0.html#axzz2MZbowrIG
http://www.ft.com/intl/cms/s/0/7824cc28-83ed-11e2-b700-00144feabdc0.html#axzz2MZbowrIG
Sunday, March 3, 2013
Why Is JPMorgan's Gold Vault, The Largest In The World, Located Next To The New York Fed?
After reading this article connecting JPMorgan's gold vaults to the New York Fed's gold vaults, it doesn't take much to connect the dots that re-hypothecation of sovereign gold is a clear and present danger. He who repatriates gold first, repatriates best.
http://www.zerohedge.com/news/2013-03-02/why-jpmorgans-gold-vault-largest-world-located-next-new-york-fed
http://www.zerohedge.com/news/2013-03-02/why-jpmorgans-gold-vault-largest-world-located-next-new-york-fed
Saturday, March 2, 2013
A nasty, brutish, imperial presidency
I'm going to guess Obama's Administration isn't the first in censoring dissident viewpoints. Bush II and Clinton weren't exactly bastions of transparency.
http://blogs.telegraph.co.uk/news/nilegardiner/100204252/a-nasty-brutish-imperial-presidency/?fb
http://blogs.telegraph.co.uk/news/nilegardiner/100204252/a-nasty-brutish-imperial-presidency/?fb
Friday, March 1, 2013
The Fed Chairman's Inconvenient Quotes
I'm not endorsing the firm in this video--in fact, I've never heard of them until now. I'm just posting it since I've been telling folks how wrong the Fed Chairman has been in his predictions for years. Glad to see some mainstream money managers are seeing the light.
http://youtu.be/5cwfbH6OPvo
http://youtu.be/5cwfbH6OPvo
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