Random Thoughts from an Organized Mind

Tuesday, July 31, 2012

The collapse of the global banking system may occur quicker than expected. The sharks are devouring the sharks.

http://www.thestreet.com/story/11643616/1/deutsche-bank-rats-out-then-cuts-jpmorgan.html

This Is What 670 Million People Without Power Look Like: Pictures From A Blacked Out India

http://www.zerohedge.com/news/what-670-million-people-without-power-look-pictures-blacked-out-india

Breaking News ENI 2Q ADJ NET EU1.46 BLN; ANALYST EST EU1.52 BLN Peregrine Trustee Seeks to Subpoena Banks on Transfers

JPMorgan is being investigated in Peregrine's bankruptcy and the vaporization of segregated accounts. What a surprise.

http://www.bloomberg.com/news/2012-07-31/peregrine-trustee-seeks-to-subpoena-banks-on-transfers.html

Homeless Children

http://www.cbsnews.com/video/watch/?id=7416542n

Monday, July 30, 2012

The world’s gold is moving from West to East

http://www.sovereignman.com/correspondents/the-worlds-gold-is-moving-from-west-to-east-8164/

The Fed On Gold Price Manipulation

Another must-read re-post.

http://www.zerohedge.com/news/fed-gold-price-manipulation

The Justice Department’s MF Global Scandal Dates to 1932

http://www.bloomberg.com/news/2012-07-27/the-justice-department-s-mf-global-scandal-dates-to-1932.html

There's an old saying in journalism that there are no new stories, only new reporters. The revelation that U.S. Attorney General Eric Holder's old law firm used to represent the bankrupt brokerage firm MF Global Holdings is a great example.

"Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling."

It's great fodder for the scandal mill. It's also not a surprise. Covington & Burling, a powerhouse Washington law firm that was founded in 1919 by former Representative James Harry Covington, in recent years has represented JPMorgan Chase, Wells Fargo, Citigroup, Bank of America, Morgan Stanley, Goldman Sachs and UBS, to name a few. It would have been more surprising if the firm had never represented MF Global. Corzine, for anyone who hasn't been paying attention, is the former New Jersey governor who was MF's chief executive when it collapsed.

Sunday, July 29, 2012

Bypassing Government Roadblocks to Your Personal Prosperity

http://www.caseyresearch.com/articles/bypassing-government-roadblocks-your-personal-prosperity?ppref=ZHB459ED0712C

Going for Gold

http://www.viewfromthebridge.co.uk/2012/07/29/going-for-gold-july-29th-2012/

Eurogroup Head Confirms "It Has Become Serious", As He Is Back To Lying

http://www.zerohedge.com/news/eurogroup-head-confirms-it-has-become-serious-he-back-lying

Saturday, July 28, 2012

Austerity At The Olympics: Each "Gold" Medal Contains 1.34% Gold

http://www.zerohedge.com/news/austerity-olympics-each-gold-medal-contains-134-gold

As Assad teeters, Israel prepares for battle to secure chemical weapons

With the fall of Assad's regime imminent, Syria is about to become commando central. Intelligence from many countries are rapidly descending on the civil war-torn country to ensure Syria's chemical weapons won't fall into the wrong hands.

Any entrepreneurs selling gas masks will make a fortune.

http://www.foxnews.com/world/2012/07/28/as-assad-teeters-israel-prepares-for-battle/

Friday, July 27, 2012

The Absurdity of Sandy Weill

http://azizonomics.com/2012/07/27/the-absurdity-of-sandy-weill/

IMF Lagarde: US Fiscal Cliff Key Global Risk; Oil A Worry

http://www.forexlive.com/blog/2012/07/26/imf-lagarde-us-fiscal-cliff-key-global-risk-oil-a-worry/

Zynga "analysts"

Zynga shares tanked 40% earlier this week after disappointing earnings, revenues and bookings. 21 Wall Street analysts follow Zynga, whose shares traded above $14 earlier this year, and were trading above $5 Wednesday, before plummeting to below $3 in the after-hours trading session.

Of the 21 analysts listed below, 20 had a Buy or Hold recommendation, with price targets ranging from $17 to $5. In hindsight, all 20 were not just wrong--but outrageously wrong, presumably costing clients billions of dollars. A few publicly apologized for their wrong calls.

But wait. Of the 21 analysts, one got it right, giving a recommendation of "Underweight" for shares of ZNGA. It must be some genius phenom analyst, right?

Sort of. The 20 wrong-call analysts had another thing in common: they were all human. The lone "analyst" who got it right? Why, "she" was a computer model: EVA Dimensions. See for yourself.

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/07-2/20120725_znga_anr.png

Apparently, HAL has a girlfriend who's equally prescient.

As for the "smartest guys in the room" (and they are all guys), I'm sure their performance for analyzing Facebook will undoubtedly be scintillating.