tag:blogger.com,1999:blog-7982981413278241287.post1642543281295118944..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: The Government Data Farce ContinuesDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-7982981413278241287.post-19823005594142742372012-03-14T08:48:32.715-06:002012-03-14T08:48:32.715-06:00Is MF Global Getting a Free Pass?
It’s sure start...Is MF Global Getting a Free Pass?<br /><br />It’s sure starting to look as if Jon Corzine is going to get away with it.<br /><br />By now, it has been well established that Corzine’s former firm, MF Global, committed the sin of sins for a broker-dealer. In late October, during the final, desperate days before it entered bankruptcy proceedings, its executives took money from segregated customer accounts — money that belonged not to MF Global but to the farmers and commodities traders that were its clients — and used it to prop up its rapidly collapsing business. Nor was this petty cash: of the $6.9 billion in customer assets that MF Global held, a stunning $1.6 billion is missing.<br /><br />Let’s not mince words here. These executives committed a crime. Virtually every knowing violation of the Commodities Exchange Act is a crime, but taking money from segregated customer accounts is at the top of the list. And for good reason. Customer money is supposed to be sacrosanct.<br /><br />http://www.nytimes.com/2012/03/13/opinion/nocera-is-mf-global-getting-a-free-pass.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-65188985160784247092012-03-14T07:44:29.585-06:002012-03-14T07:44:29.585-06:00I was taught to buy the margin call sales...
Anot...I was taught to buy the margin call sales...<br /><br />Another Record ECB Margin Call Impairing Gold Again?<br /><br />This is concerning since it would appear we had a good week for collateral (risk assets) in general, so we can only imagine what garbage is clogging the ECB's balance sheet. The side-effect of this appears to be (as we pointed out here) that Gold (the banks' remaining quality collateral) is being sold to cover these margin calls just as it was in September 2011 (though lease rates have not squeezed as much this time).<br /><br />http://www.zerohedge.com/news/another-record-ecb-margin-call-impairing-gold-again?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-56148032459787665052012-03-14T07:19:21.305-06:002012-03-14T07:19:21.305-06:00John Doody on Gold Stocks: “Mama Said There Would ...John Doody on Gold Stocks: “Mama Said There Would Be Months Like This”<br /><br />Jim welcomes back to Financial Sense Newshour John Doody PhD, editor of the Gold Stock Analyst. John discusses the recent weakness in the gold stocks and sees opportunity in today’s market. He notes three factors that determine value when investing in a gold stock.<br /><br />John Doody brings a unique perspective to gold stock analysis. With a BA in Economics from Columbia, an MBA in Finance from Boston University, where he also did his PhD-Economics course work, Doody has no formal “rock” studies beyond “Introductory Geology” at Columbia, taught by the University’s School of Mines. An Economics Professor for almost two decades, Doody became interested in gold due to an innate distrust of politicians. In order to serve those that elected them, politicians always try to get nine slices out of an eight slice pizza. How do they do this? They debase the currency via inflationary economic policies.<br /><br />http://sgtreport.com/2012/03/john-doody-on-gold-stocks-%E2%80%9Cmama-said-there-would-be-months-like-this%E2%80%9D/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-4570292274197914172012-03-14T06:34:11.914-06:002012-03-14T06:34:11.914-06:00BRING HIM IN
This Klepto is still on the lam
All ...BRING HIM IN<br /><br />This Klepto is still on the lam<br />All others would be in a jam<br />With justice now bought<br />He'll never be caught<br />He may have perfected "The Scam"!!!<br /><br />The Limerick King<br /><br />http://www.flickr.com/photos/expd/6979345167/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-11765553567376421002012-03-14T06:17:42.361-06:002012-03-14T06:17:42.361-06:00Guy Who Rented All 94 Rooms of Aspen Hotel for Par...Guy Who Rented All 94 Rooms of Aspen Hotel for Party Scores Awesome New Goldman Job<br /><br /><br />Verschleiser also made a bundle burning Bear's bond insurers, whom he bet against after inducing them to insure his crappy mortgage bonds, nicknamed "Sack of Shit" bonds by one of the funny dudes in his department. Verschleiser reportedly bragged that he made $55 million shorting his own bond insurers in the space of three weeks. Those interested in the whole sorry story should check out reporter Teri Buhl's excellent Atlantic magazine piece entitled, "E-mails Suggest Bear Stearns Cheated Clients Out of Billions."<br /><br /><br /><br />Read more: http://www.rollingstone.com/politics/blogs/taibblog/guy-who-rented-all-94-rooms-of-aspen-hotel-for-party-scores-awesome-new-goldman-job-20120312#ixzz1p5oKSRub<br /><br /><br /><br />....so makes you wonder what wouldn't they do?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-48865269789791355222012-03-14T06:14:13.511-06:002012-03-14T06:14:13.511-06:00Price is manipulated...
Why I’m leaving Goldman S...Price is manipulated...<br /><br />Why I’m leaving Goldman Sachs<br /><br />It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “muppets,” sometimes over internal e-mail. Even after the S.E.C., Fabulous Fab, Abacus, God’s work, Carl Levin, Vampire Squids? No humility? I mean, come on. Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact. <br /><br />http://maxkeiser.com/2012/03/14/why-im-leaving-goldman-sachs-why-i-left-google/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-52791896689382076512012-03-14T06:09:18.935-06:002012-03-14T06:09:18.935-06:00Our new visitor, Bankster Troll Boy, and his misgu...Our new visitor, Bankster Troll Boy, and his misguided notion of "no more QE" proves he does not understand the stark facts presented in the article below. The US Shadow Banking system experienced its 15th consecutive quarterly contraction, from an all time high of $20.9 trillion to just $15.1 trillion. The Central Banksters have been continuously printing -- and will continue to print -- their counterfeit fiat. It is "Print or Die" for them and the Global Financial System. Read Troll Boy. Educate yourself. <br /><br />====== <br /><br />Is This The Chart Of A Broken Inflation Transmission Mechanism?<br /><br />http://www.zerohedge.com/news/chart-broken-inflation-transmission-mechanism <br /><br />".... when it comes to secular market moves, today's little bout of JPM-related euphoria will be truly transitory if not accompanied by much more printing. After all the chart below is exponential and demands a sacrifice soon: perhaps the PBoC will step in briefly, although unlike the other central banks, China's money tends to stick within its own system. As such a far bigger calf will be required."JPhttps://www.blogger.com/profile/09751978339290618888noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-29930797900014222852012-03-14T00:21:32.161-06:002012-03-14T00:21:32.161-06:00And by the way you all must have noticed that - mo...And by the way you all must have noticed that - most miners with an exception of only a few - are back to 2003 levels. Isn't that the same as the Dow etc having gone nowhere.<br /><br />And for the London trader mentioning big physical buying around 1680 on the pumping site Kingworldnews. Seems that is immaterial and people are just to happy to sell some physical.<br /><br />All this bravado on gold bloggers sites. Everyone else is a troll.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-10224305242945154552012-03-14T00:10:37.272-06:002012-03-14T00:10:37.272-06:00everyone else is term a troll or sheeple etc.
So ...everyone else is term a troll or sheeple etc.<br /><br />So lets invent a new word for those that use the following - moon shot, smoke under the hood, short are in for a religious experience, analysts out to lunch. Miners will trade like internet stocks blah blah blah<br /><br />GORO dividend - big deal - by now miners should have had the chance to do more than JPM did last night.<br /><br />It's only a trade - nothing else - as long term investment one must be nuts.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-55113539990994233862012-03-13T23:22:47.189-06:002012-03-13T23:22:47.189-06:00nothing goes up in a straight line - well converse...nothing goes up in a straight line - well conversely nothing goes down in a straight line. what i found is that this religious blogging about gold is also a farce. forever harvey writes about the strain on physical in a delivery month. what a damp squib the silver one is turning out to be... the same as any non delivery month.<br /><br />and much about this qe farce - with europe japan and boe recently doing qe and gold can't move what does it tell you - its reached its limit-<br /><br />oh and by the way i agree nothing goes up forever and a straight line - well that's re assuring for the hui and xau - well done.<br /><br />well alf fields analysis has to be revisited at 1650, we nearly there. that is the breakdown of his analysisAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-17189363475408198052012-03-13T21:53:13.276-06:002012-03-13T21:53:13.276-06:00Agree on that point too about dataAgree on that point too about dataDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-3003202018782948972012-03-13T21:10:33.018-06:002012-03-13T21:10:33.018-06:00Bank Stress Tests and Other Acts of Faith
If the ...Bank Stress Tests and Other Acts of Faith<br /><br />If the bank has an EC to T1RBC ratio much greater than 1, the model is<br />telling you that the risk taken by the enterprise exceeds the ability<br />of the nominal regulatory capital to support it. Notice that JPMorgan<br />and not Citigroup ("C") is the outlier when you look at the group<br />based upon EC, followed by State Street ("STT"), Toronto Dominion's US<br />units and Goldman Sachs ("GS"). Note that the IRA ratings are a<br />mechanical survey with all the participants treated the same.<br /><br />So when I look at the Fed stress tests, which seem to be the result of<br />a mountain of subjective inputs and assumptions, the overwhelming<br />conclusion is that these tests are meant to justify past Fed policy.<br />Policy like allowing large banks to pay dividends and, especially, move<br />loan loss reserves back into income by most of the TBTF banks.<br />Significantly, US Bancorp and smaller institutions have generally not<br />played this dangerous game with loan loss reserve releases back into<br />income because they could easily cover the dividend.<br />Then again, look at the mere $62 billion loss on first lien mortgages in the supervisory stress scenario. Since real estate is half the total $13 trillion balance sheet of the US banking system and more like 3/4 of total exposure if you include RMBS, how does the Fed manage to keep total real estate losses below $150 billion in the stressed scenario? Again, the Fed party line is that there is no problem with real estate. But to be fair to the Fed, they are looking at the same baked and spun disclosure from the TBTF banks as we all. There were reports that the Fed initially wanted to ignore the 2009 FASB rule changes in fair value of illiquid assets, but banks pushed back and insisted on "new GAAP" as the rule. <br /><br />http://www.zerohedge.com/contributed/2012-11-13/bank-stress-tests-and-other-acts-faith?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-16465868337546625382012-03-13T21:05:46.727-06:002012-03-13T21:05:46.727-06:001 Kg Lunar Dragon here.. yeah, I wouldn't want...1 Kg Lunar Dragon here.. yeah, I wouldn't want to stop the trolls either.. on free speech grounds, or otherwise.. I think their presence actually points to increasingly desperate nature of the situation. The guy is actually trying to sell us on paper Gold and Silver vs. Physical.. amazing stuff really when you think about it. The presence of this troll is data to me.... I love more data.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-72628737640363291952012-03-13T20:50:45.985-06:002012-03-13T20:50:45.985-06:00Ya I hear ya on the troll. I usually ignore them b...Ya I hear ya on the troll. I usually ignore them but I had some xtra time so I figured I issue a rebuttal.<br /><br />I don't have to post those comments but I don't want to be accused of editting and I'm firm believer in the 1st AmendmentDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-51837125351286353572012-03-13T19:45:55.103-06:002012-03-13T19:45:55.103-06:00Ann Barnhardt & W Pollock Re John Locke and Fu...Ann Barnhardt & W Pollock Re John Locke and Future Trends <br /><br /><br />The contract between people and their government has been broken. This means that we have to take responsibility for the current condition as we take action towards change. We are collectively responsible for our governance which we have delegated to an elite band spanning congress and private sector oligarchs. There are 310 million of us vs Under 1000-3000 key oligarchs! By failing to remove our defective government we are giving our tacit agreement to a system that is immoral and working against our survival interests. Informed consent was a foundation point of representative government. Our leaders have forsaken us because we have acquiesced to their lies as we delegated away our freedom and property. <br /><br /><br /><br />http://youtu.be/1_ubyLXMIfYAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-10637973333508503052012-03-13T19:22:22.860-06:002012-03-13T19:22:22.860-06:00Bugs as in Bugsy Dimon?
Politics: J.P. Morgan Cha...Bugs as in Bugsy Dimon?<br /><br />Politics: J.P. Morgan Chase's Ugly Family Secrets Revealed<br />By Matt Taibbi<br />March 13, 2012<br /><br />In the "vast majority" of those instances, the actual debt was "lower that what Chase was representing," her suit stated.<br />Linda subsequently found an enormous range of errors. Some judgments, she told me, were not judgments at all. In some cases, she said, Chase actually owed the customer money.<br />When she brought these concerns to her superiors, what do you think their response was? They told her and others to shut up and just sell the stuff anyway. Her boss, Jason Lazinbat, allegedly told her "she had better go along with the plan to sell the misrepresented asset."<br />Think of the consequences of this: because Chase was so anxious to make money off this debt sale, countless credit card borrowers would now have collection agents chasing them for money they did not owe. The debt-buyer, too, was victimized by being sold accounts it could not collect on. It is almost impossible to estimate how many man-hours of pointless court proceedings would be lost because of this decision.<br /><br />http://m.rollingstone.com/entry/view/id/23494/pn/all/p/0/?KSID=90fbbeb433a91dc4bf9f55122c66e142Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-77651838162665685112012-03-13T17:55:04.217-06:002012-03-13T17:55:04.217-06:00Dude.. don't get so worked up by the troll. Y...Dude.. don't get so worked up by the troll. You have to realize that the forces of evil actually have trolls working sites like this, trying to add some little increment of weight to the alternate reality they are creating. Think about it.. who in their right mind would call a physical holder a bag holder right now, with all the money printing going on? This troll is simply an agent of the ponzi.. Nobody else would have the energy to come here and post this crap, over and over again.. get used to it.<br /><br />I just received a 1 Kg (32 oz) Lunar Dragon... I could not be happier. There is only one truth... the Emperor has no clothes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-56643186438465317102012-03-13T14:33:48.057-06:002012-03-13T14:33:48.057-06:00What the fuck is your problem? Gold Resource - GO...What the fuck is your problem? Gold Resource - GORO - just announced yesterday that they are implementing a program that gives the shareholder an option to receive his dividend in gold. GG pays a monthly dividend. Several companies now tie their dividend to the performance of gold or silver. You are the one who is clueless. <br /><br />It's juvenile to think if a market doesnt' go straight up that it's busted. That tells me you grew up trading internet stocks. How'd that work out for ya. You want something goes straight up? Trade AAPL. Let me know how that works out for ya.<br /><br />To this day, the PM sector has outperformed EVERY other asset class for the last 11 year. <br /><br />Wake up and smell the coffee. By the time the sheeple realize they should be buying gold, silver and mining stocks, they won't be able to afford much.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-37828635974990815532012-03-13T13:39:46.732-06:002012-03-13T13:39:46.732-06:00Well I guess people frequenting Gold bug sites wil...Well I guess people frequenting Gold bug sites will not open themselves up to changing times. JPM buy back and dividend increase. When last have you seen miners do that.<br /><br />You guys just don't want to see the change - the dam has burst - and 2012 will be a disaster for gold and silver. Embry was wrong. You thought that Dec was bad but described as low volume. Here we are at same levels - not silver and at higher volume.<br /><br />And another thing - its really just a trade and the best trader has absolutely no physical and still gets the juice. Physical will be bag holders.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-22427367791661909592012-03-13T13:00:41.457-06:002012-03-13T13:00:41.457-06:00Anonymous 1... total incoherence you spout. I don...Anonymous 1... total incoherence you spout. I don't feel in a corner at all with my PM's... it is by far the paper bugs and CB's that are in the corner, having to ultimately print up most of the money needed to keep Gov't debt growing, supporting all the transfer payments. The Emperor will be naked soon enough.. not sure how long.. could be months, could be a year or two. Doesn't matter really... in the end the paper markets you talk about will bow to the physical markets you fail to mention. Can't wait for that PAGE replacement to start trading fully backed, physical Ag contracts. Your trolling has failed....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-90915134373788502582012-03-13T12:35:10.144-06:002012-03-13T12:35:10.144-06:00Rule - $150 to $170 Oil, Gold, Fraud & Dangero...Rule - $150 to $170 Oil, Gold, Fraud & Dangerous Times<br /><br />“This strengthens the power between sovereigns and allegedly private sector banks, which are increasingly instruments of central power. This is also very bad for savers who put money in banks and the banks turn around and stupidly lend the money to sovereigns. The sovereigns then turn around and bail out the banks, in effect nationalizing savings and risks. <br /><br /><br />As I said, it’s a very dangerous set of circumstances and everybody needs to understand this behavior for what it is which is fraud, Eric. I am assuming your readers because they are your readers, will equate the set of circumstances we described with regards to Greece as fraud. <br /><br /><br />I am similarly assuming that the same people will look at the bailout of the US banks, AIG, people who bought houses they couldn’t afford, and the people who loaned money to people who couldn’t afford the houses they bought as fraud. If your readers concur those things are fraud and the liquefaction of those losses, in terms of QE or counterfeiting as fraud, my suspicion is you have to be a goldbug. <br /><br /><br />I also don’t understand how a sovereign entity like the United States can take in by way of revenues, less than 40% of what it spends. The US then makes up the 50% of the difference by encumbering our children’s future and the other 50% by counterfeiting. How people can observe the events we are witnessing, understand them to be fraud and counterfeiting and not be a goldbug.” <br /><br />http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/3/13_Rule_-_$150_to_$170_Oil,_Gold,_Fraud_%26_Dangerous_Times.html<br /><br />@ How wrong can you be....you're someone's little helper,eh?<br /><br /><br />They just don't appreciate that you get tired<br />They're so hard to satisfy, you can tranquilize your mind<br />So go running for the shelter of a mothers little helper<br />And four help you through the night, help to minimize your plight<br /><br />http://youtu.be/13olfeD026gAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-1388415291339336382012-03-13T12:32:37.846-06:002012-03-13T12:32:37.846-06:00And all this London trader bullshit about massive ...And all this London trader bullshit about massive physical at 1680 is absolutely useless information. This move was so predictable. Watch 1650 go and the Alf Fileds will have to go back to the drawing board.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-67297217776306270132012-03-13T12:29:35.878-06:002012-03-13T12:29:35.878-06:00And by the way - this year will be the year of the...And by the way - this year will be the year of the banks. they are the ones who really needed the QE but seems not. They are doing just fine.<br /><br />The Gold and Silver has reached its top and those calling for 10 000 are just nuts because its not aloud to happen - even if gold "should" be there.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-69669916143886126092012-03-13T12:25:14.165-06:002012-03-13T12:25:14.165-06:00Everything known before hand. For the next time we...Everything known before hand. For the next time we know we can't invest using Embry's advice foremost but Turk is starting to run close behind. Goldman and JPM telegraphed this FOMC move. So what they going to do - raise rates???<br /><br />Embry - and his comment that this year will be one heck of a year for gold and silver. He might have been in the bull at the beginning but as sure as...he doesn't know cycles.<br /><br />So tinfoil hats "hoping" for nothing.....QE to infinity what a laughAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-72740780968632598802012-03-13T12:20:50.964-06:002012-03-13T12:20:50.964-06:00I Have No Choice but to Own Stocks: 'Black Swa...I Have No Choice but to Own Stocks: 'Black Swan' Author<br /><br />He said Paul's plans, including making drastic cuts in government, ending corporate bailouts and abolishing the Federal Reserve [cnbc explains] can "cure the fundamental issues. He’s against the issue of novocaine. If you have a severe problem, you do root canal. That’s the only choice you have. You have to start with a government budget that is in control. You don’t gamble with future generations' money."<br /><br />Can America live with austerity? "We are doing it to the Greeks," he said. "We should do it to ourselves. We want jobs, we want a healthy economy. I want to live in a country that has the energy to rebuild things. This is gone. We have a metastatic government...You need to do something drastic."<br /><br />The whole system "is rotten," he added. "The advisers around [President] Obama who were part of the problem were friends with the bankers. I don’t trust the Republicans with deficits. Look at what we had under the Republican administrations including George [W.] Bush. I want the main problems to be addressed and I want a major cleanup.<br /><br />"I don’t care about [Ron Paul's] chances. I support him. We have no other solutions. It is my duty as a citizen and as a taxpayer who doesn’t want to be hoodwinked in the long term by bureaucrats."<br /><br />http://www.cnbc.com/id/46718912Anonymousnoreply@blogger.com