tag:blogger.com,1999:blog-7982981413278241287.post2892222017680941504..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: The Debt BubbleDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger19125tag:blogger.com,1999:blog-7982981413278241287.post-61208263072136686742012-02-09T08:03:56.283-07:002012-02-09T08:03:56.283-07:00Gold is the only way to choke the corruption out.....Gold is the only way to choke the corruption out...they're not going to do it on their own!<br /><br /><br />Bill Black: On Why White Collar Crime is on the Rise, How to "Hotspot" Elite Financial Crimes, and Why Republicans and Democrats are Not Interested <br /><br />On why Republicans and Democrats are not pursuing elite white collar crime: It would hurt campaign contributions. Finance is the leading source of campaign contributions for both parties.<br /><br /><br />http://www.capitalismwithoutfailure.com/2012/02/bill-black-and-dylan-ratigan-on-why.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-70878910809208606532012-02-09T07:33:35.402-07:002012-02-09T07:33:35.402-07:00Bank of England adds another dose of QE
http://ww...Bank of England adds another dose of QE<br /><br />http://www.marketwatch.com/story/bank-of-england-adds-another-dose-of-qe-2012-02-09?link=MW_story_latest_news<br /><br />Face it folks its print or Die, got Gold you will wish you had. Buffet just said those holding Bonds will be living in the soup lines...Buffet is buying Gold obviously.<br /><br />May you live in interesting times.Billhttps://www.blogger.com/profile/06623291271325261181noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-59759564437843586782012-02-09T03:02:11.932-07:002012-02-09T03:02:11.932-07:00I've liquidated two of my mining positions in ...I've liquidated two of my mining positions in the green this week and am averaging down others to wait for a rise, also putting more money in oil...Conwayhttps://www.blogger.com/profile/11066767342077807833noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-32870655368685011432012-02-08T21:05:42.437-07:002012-02-08T21:05:42.437-07:00I don't like PAAS, RIC, or AUY. Have never lo...I don't like PAAS, RIC, or AUY. Have never looked at FNV or KGI. GORO in my view is overvalued for what it is but the market/newsletters love it and it will hit new all-time highs before a lot of the other ones will. We own NGD and ANV in the fund and trade SLW. <br /><br />Take look at EMXX and WS.TO and RPM.TODave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-58044308403137281852012-02-08T21:01:59.831-07:002012-02-08T21:01:59.831-07:00LOLLOLDave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-49897054187665537242012-02-08T20:43:16.527-07:002012-02-08T20:43:16.527-07:00Thanks Dave. I have a mix of producers and royalty...Thanks Dave. I have a mix of producers and royalty companies: FNV,SLW,PAAS,NGD,RIC,KGI,AUY,ANV,and GORO. Fingers crossed and I can hold no reason to day trade them.Unknownhttps://www.blogger.com/profile/04042578796371061439noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-2289449911343158952012-02-08T19:10:48.335-07:002012-02-08T19:10:48.335-07:00Given that we are now in the serious "bubble&...Given that we are now in the serious "bubble" phase of money printing and debt accumulation, it makes sense that the serious "bubble" phase for the rise in the price of gold and silver is still ahead of us.<br /><br /><br />you talking paper or physical... ;0)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-85951088573953856612012-02-08T18:52:48.170-07:002012-02-08T18:52:48.170-07:00Give them time. The mining shares are about as un...Give them time. The mining shares are about as undervalued in relation to the price of gold/silver as at any time in the last 10 years. If you have cash to invest in good mining shares, do it. Then be patient.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-19121144020102162172012-02-08T18:45:39.114-07:002012-02-08T18:45:39.114-07:00Dave it still befuddles me on why my mining shares...Dave it still befuddles me on why my mining shares have done so poorly overall this past year or so after the big bounce of 2009. Maybe I am just a bad trader but then gold is up quite a bit....Unknownhttps://www.blogger.com/profile/04042578796371061439noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-23766126260353621372012-02-08T17:17:53.430-07:002012-02-08T17:17:53.430-07:00When you say "borrowing" from retirement...When you say "borrowing" from retirement funds, that's only allowed for buying a primary residence and I think for medical expenses. I doubt that money even shows up because it's not really debt. People who take retirement fund money for living expenses have to cash out and pay the penalty plus any income taxes on that money. Same deal if you liquidate your IRA to get the money out of the system and into gold. Believe me, I already footed that tax expense LOL.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-28316592516184319522012-02-08T16:05:44.781-07:002012-02-08T16:05:44.781-07:00Dave, is it possible that "This spike in borr...Dave, is it possible that "This spike in borrowing, which includes a huge increase in borrowing from retirement plans, is being done simply for day to day expenses" is actually an attempt by retirement plan holders to get some of their retirement funds safely into their own hands, rather than having them forcefully converted to the cough-safety of US govt debt-cough, at some point in the future???Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-32089231410135244192012-02-08T15:57:28.999-07:002012-02-08T15:57:28.999-07:00On Track...to a Train Wreck
The report calls for ...On Track...to a Train Wreck<br /><br />The report calls for a change in bankruptcy laws.<br /><br />In the survey, 81 percent of respondents said that potential clients with student loan debt have increased "significantly" or "somewhat" in the last four years.<br /><br />And 95 percent of respondents reported that few student loan debtors have any chance of discharging what they owe through a bankruptcy proceeding because they have to prove "undue hardship" — a standard that is difficult to meet.<br /><br />The total debt from student loans is about $1 trillion, about 14 times more than 15 years ago and well above the estimated total credit card debt of $798 billion.<br /><br />...<br /><br />The report urges a change in bankruptcy laws so that those burdened with student debt would be on the same footing as others in debt facing bankruptcy.<br /><br />http://www.financialarmageddon.com/2012/02/on-trackto-a-train-wreck.html<br /><br /><br />wow...that's a lot of debt in this job market let alone a good one!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-75348305764630209282012-02-08T14:51:08.250-07:002012-02-08T14:51:08.250-07:00Everybody's borrowing....
Harbinger to Borrow...Everybody's borrowing....<br /><br />Harbinger to Borrow $190M at 15% Interest<br /><br />UBS Loan<br /><br />The loan is backed by all of the fund’s assets, according to the people, including a 27 percent stake in Ferrous Resources Ltd., an iron-ore producer in Brazil. If any assets are sold, Jefferies gets paid first, according to the people, and the lender has the right to help sell some of the assets at an agreed upon minimum price. <br /><br />http://www.bloomberg.com/news/2012-02-08/falcone-s-harbinger-said-to-borrow-190-million-from-jefferies-at-15-rate.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-67256810144724038132012-02-08T13:50:23.688-07:002012-02-08T13:50:23.688-07:00They can create all that debt out of thin air but ...They can create all that debt out of thin air but they couldn't find this pittance...<br /><br />JPMorgan Chase Caps Martin Luther King PR Campaign By Foreclosing on Civil Rights Activist<br /><br />Now that campaign is turning into a public relations nightmare for the banking behemoth. Chase is now threatening to foreclose on 78-year old, Helen Bailey, a former Nashville area Civil Rights activist who stood up to police attack dogs, tear gas and fire hoses for her God given rights.<br /><br />Ms. Bailey couldn’t keep up with her mortgage payments and attempted to refinance with another mortgage company and would work with her to let her stay in her home until she died. The only thing she asked from Chase was a $9000 principal write down.<br /><br />Chase refused and now are threatening to foreclose and evict this hero of one of the darkest times of American history.<br /><br />http://jessescrossroadscafe.blogspot.com/2012/02/jpmorgan-chase-caps-martin-luther-king.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-7152049211636557802012-02-08T12:38:49.917-07:002012-02-08T12:38:49.917-07:00ILLUSION OF RECOVERY – FEELINGS VERSUS FACTS
Bern...ILLUSION OF RECOVERY – FEELINGS VERSUS FACTS<br /><br />Bernanke and his Wall Street puppet masters’ plan is actually quite simple. It’s essentially a confidence game. A confidence game (also known as a con, flim flam, gaffle, grift, hustle, scam, scheme, or swindle) is an attempt to defraud a group by gaining their confidence. The people who commit such tricks are often known as con men, con artists, or grifters. The con man often works with one or more accomplices called shills, who help manipulate the mark into accepting the con man’s plan. In a traditional confidence game, the mark is led to believe that he will be able to win money or some other prize by doing some task. The accomplices may pretend to be random strangers who have benefited from successfully performing the task. Bernanke and the 1% are the con men. They are attempting to defraud the 99% by convincing them their “solutions” will benefit them. The shills acting as accomplices are Wall Street bankers, bought off economists, politicians, journalists, and mainstream media pundits. You are the mark. The game has multiple facets but is based on more freely flowing low interest easy debt. The con man has reduced interest rates to zero at the behest of his puppet masters. The Wall Street accomplices offer enticing financing to the marks for big ticket items like automobiles, furniture and electronics. As the marks go further into debt, the Wall Street shills report record earnings ($26 billion from loan loss reserve accounting entries), consumer spending rises and GDP goes higher. The mainstream media accomplices dutifully report an improving economy. The government accomplices massage the employment and inflation data and declare a jobs recovery with no inflation. The marks are supposed to feel better about the future and spend even more borrowed money. This is what is considered a self-sustaining recovery by the psychopaths running this country.<br /><br />http://www.theburningplatform.com/?p=28887Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-1996000269996195782012-02-08T11:57:26.229-07:002012-02-08T11:57:26.229-07:00It is except the Austrian TMS does not take into a...It is except the Austrian TMS does not take into account the notion that currency-equivalent spending power created by debt issuance is really money supply until it's paid back. If there's default or write-downs, like in 2008, it ultimately converts into measured money supply, as defined by the M1/M2/etc. So I'm saying that the inflationary effect of debt on the system is the same a money printing until the debt is completely paid in full. Unless of course the debt is used to create positive net present value GDP growth. The economic exppansion "monetizes" the debt naturally. But the debt issuance going on now is used for consumption and Government welfare/defense - in all countries.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-39119929154286229842012-02-08T11:34:26.058-07:002012-02-08T11:34:26.058-07:00The tautological "offset" to this fright...The tautological "offset" to this frightening rate of debt accumulation will be BOTH the parabolic increase in the "de facto" money supply AND a parabolic increase in the price of gold/silver. I say "de facto" because I am referring to both the currency in circulation plus the amount of money made available by credit. <br />Is your article saying in so many words what this says in 2 graphs?<br />Quite worrisome, especially his short timeline.<br />http://www.financeandeconomics.org/Articles%20archive/2011.12.17%20TMS-hypo.htmAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-81619460692813463442012-02-08T11:22:19.926-07:002012-02-08T11:22:19.926-07:00No you should read his commentary from yesterday. ...No you should read his commentary from yesterday. He's saying that banks are selling credit protection on things like indexes that replicate Euro sovereign debt and then short equity indices to hedge. When the derivatives trade unwindes, they then have to go and buy the index to unwind their end. He's wrong. Not only is he wrong, the but overall level of CDS issuance is mushrooming every week.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-85954230792531465692012-02-08T11:11:52.163-07:002012-02-08T11:11:52.163-07:00To your point....does he mean deleveraging via inc...To your point....does he mean deleveraging via increased capital ? ie,<br /><br />The End of Wall Street As They Knew It<br />After surprisingly successful financial reform, public vilification, and politics that have turned against them, the Masters of the Universe are masters no longer.<br /><br /><br />As the banks jettison their trading arms, they’re being restrained by rules that force them to retain more capital. In December 2011, the Fed announced it would compel banks over the next few years to effectively double the amount of capital they hold on their books, a move that would curb leverage and, ultimately, profits. At the boom’s peak, banks like Lehman and Bear Stearns levered up 30, even 40, to 1. Under the new rules, banks would only be able to borrow $12 for every dollar they spend. In Europe, the rules are even stricter: British regulators have indicated that banks may have to hold as much as 20 percent on their books. �Everything that happened over the past 30 years comes back to the leveraging of the global economy,� a former Bear Stearns executive said, �and now that’s reversing.�<br /><br />http://nymag.com/print/?/news/features/wall-street-2012-2/index6.htmlAnonymousnoreply@blogger.com