tag:blogger.com,1999:blog-7982981413278241287.post7798742992499469662..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: You CAN'T Be SeriousDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-7982981413278241287.post-42839649461230876992011-12-05T09:10:09.645-07:002011-12-05T09:10:09.645-07:00Exclusive – Mark Cutifani CEO of $16B AngloGold As...Exclusive – Mark Cutifani CEO of $16B AngloGold Ashanti: “Major Buyers Are Finding It’s Hard To Get Physical Gold”<br /><br />What I thought was the most fascinating of Mark’s comments during the interview, was his observations of major gold buyers emerging from the Middle East & Asia. “People are coming directly to us,” for large gold purchases he said. “People who want tonnes of physical gold, people with serious financial muscle…because they’re finding it’s very difficult to secure the volume of gold they want…That’s something we’ve noticed over the last 18 months, and it’s been increasing in the last 6 months. I think people are finding its hard to get physical gold.”<br /><br /><br /><br /><br />http://bullmarketthinking.com/mark-cutifani-ceo-of-anglogold-ashanti-major-buyers-finding-its-hard-to-get-physical-gold/<br /><br />gold etf~ "Men prefer a false promise to a flat refusal." <br />-Quintus CiceroAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-68683854092672479082011-12-04T19:24:22.448-07:002011-12-04T19:24:22.448-07:00How many people can they buy off?hmmm...that's...How many people can they buy off?hmmm...that's a very good question!<br /><br /><br /><br />60 Minutes: PROSECUTION Is Overdue<br /><br />http://market-ticker.org/akcs-www?post=198550Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-38354478101933062862011-12-03T16:40:05.414-07:002011-12-03T16:40:05.414-07:00Currency swaps – the beginning of a 'solution&...Currency swaps – the beginning of a 'solution'?<br /><br />The obvious way to deal with sovereign debt will be through the<br />International Monetary Fund, perhaps issuing SDRs (Special Drawing<br />Rights). The SDR was created by the IMF in 1969 to support the Bretton<br />Woods system of fixed exchange rates, a function that was swept away<br />by events. According to the IMF, the SDR is not a currency, but a<br />claim on “the freely used currencies of IMF members”. So if an SDR<br />facility is extended to Italy, for example, the SDR can be cashed in<br />for the underlying currencies and converted into euros. The facility<br />is sitting there unused.<br /><br />If the SDR route is taken, governments such as Italy would become net<br />buyers of euros, generating a bear-squeeze in both the euro and<br />government bonds bringing yields down smartly. Market-aware central<br />planners love this sort of thing, because they can force the switch in<br />market sentiment from extreme pessimism to do much of their work for<br />them.<br /><br />So far, so good; but to anyone with a grasp of the economics of sound<br />money, the encashment of SDRs is raw monetary inflation. But with the<br />economic establishment and the general public happy to accept<br />quantitative easing as a responsible economic policy, despite its<br />ultra-thin cover for monetary inflation, it is unlikely the<br />inflationary aspects of SDRs will be understood. Instead, the media<br />will praise the benefits of international co-operation to resolve the<br />sovereign debt problem, selling the concept as a way to counteract<br />contracting bank credit to prevent deflation.<br /><br />http://www.goldmoney.com/gold-research/alasdair-macleod/currency-swaps-the-beginning-of-a-solution.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-80317928340460102272011-12-03T16:21:01.909-07:002011-12-03T16:21:01.909-07:00I thought staffers were the creme de la creme but ...I thought staffers were the creme de la creme but it looks more like scum that floats to the top....<br /><br /><br />Is Crony Capitalism Wrong? <br /><br />Congressman Quigley's staffer called because he saw my quote in the Bloomberg article. He claimed he was looking for clarification of my position, and I stated the article accurately reflected my viewpoint. But the staffer seemed to me to defend the meeting.<br /><br />The staffer said this kind of meeting "happens all the time." I retorted, "Really? What's the excuse?"<br /><br />He then claimed he was just trying to play "devil's advocate." But don't we have a surplus of those?<br /><br />The staffer claimed that people want to discuss regulations with people who might be affected. I responded that this excuse is ludicrous. Then Secretary of the Treasury Paulson discussed material non-public information about the restructuring of Fannie Mae and Freddie Mac with people who were in a position to profit at the expense of the public. I cut the phone call short at that point.<br /><br />I would like to give my local politician the benefit of the doubt that a staffer wasn't acting as an errand boy trying to send a message, but that phone call didn't give me much to work with. It seems that whether it's Henry Paulson working for a Republican administration or a Democratic errand boy doing apparent damage control, it looks as if we're steeped in bi-partisan sleaze. If the staffer was merely playing the fool, then U.S. citizens needn't suffer them gladly.<br /><br />http://www.huffingtonpost.com/janet-tavakoli/is-crony-capitalism-wrong_b_1127166.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-51769124242920114132011-12-03T11:58:47.424-07:002011-12-03T11:58:47.424-07:00I know he's liberal but tell me how this isn&#...I know he's liberal but tell me how this isn't working its way up the food chain after MF global?<br /><br /><br />Bill Moyers Essay: Plutocracy and Democracy Don’t Mix<br /><br />http://www.ritholtz.com/blog/2011/12/bill-moyers-essay-plutocracy-and-democracy-dont-mix/?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-73781783113067802242011-12-03T11:52:56.624-07:002011-12-03T11:52:56.624-07:00No arrests, no protests...its Utopia...
Wisconsi...No arrests, no protests...its Utopia...<br /><br /><br />Wisconsin Gov. Wants Protesters To Pay For Security<br /><br />The Wisconsin State Capitol building has been the scene of protests since February, when Gov. Scott Walker started the process of passing a law that severely limits collective bargaining for public employees in the state.<br /><br />Yesterday, the Walker administration took a step that is likely to antagonize protesters further. His administration enacted new regulations that would require permits to protest at the Capitol and other state buildings.<br /><br />The controversial part is that the bill allows officials to charge groups for the security and clean-up costs of such events.<br />http://www.npr.org/blogs/thetwo-way/2011/12/02/143059352/wisconsin-gov-wants-protesters-to-pay-for-security-clean-upAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-23689409957164017852011-12-03T11:06:59.511-07:002011-12-03T11:06:59.511-07:00Too bad they don't include the cost of money i...Too bad they don't include the cost of money in the cpi...guess the starbucks coffee that put you over had a higher price tag...???<br /><br />There's nothing easy about easy money.....<br /><br /><br />3 December 2011<br /><br />UK banks charging as much as 800,000% on overdrafts<br /><br /><br />By Ben Carter<br />Reporter, Money Box<br /><br /><br /><br />Some High Street banks are charging "eye-watering" rates of interest when their customers go over their overdraft limit, research by Radio 4's Money Box programme has revealed.<br /><br />A customer borrowing £100 for 28 days without the consent of Santander would repay £200, for example.<br /><br />That is the equivalent annualised percentage rate, or APR, of 819,100%.<br /><br /><br /><br />http://www.bbc.co.uk/news/business-16002022Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-63341396583179218332011-12-03T08:53:39.566-07:002011-12-03T08:53:39.566-07:00People better start asking themselves some pretty ...People better start asking themselves some pretty serious questions when protesters end up in jail and the true criminals are walking around in luxury!!!! That Ann Barnhardt interview is spot on ex a few points.<br /><br />Wake Up America!<br /><br />But here is something else that is alarming. The police state this country has turned into. I have brought out similarities to the old Soviet Union in the past but here is a comment left by a reader that makes some comparisons to a more modern non democratic republic in Russia.<br /><br />http://www.goldmansachs666.com/2011/12/wake-up-america.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-87244998257842054132011-12-03T08:34:06.115-07:002011-12-03T08:34:06.115-07:00MF Global customer: My entire account is missing
...MF Global customer: My entire account is missing<br /><br />(Reuters) - As investigators search for an estimated $1.2 billion missing from MF Global customer accounts, one customer says his entire account has vanished and blames the trustee liquidating the firm.<br /><br />An Illinois-based futures fund on Friday said its more than $50 million account with the broker-dealer unit of MF Global Holdings Ltd (MFGLQ.PK) is missing, and asked a federal bankruptcy judge to order the trustee to find it.<br /><br />Highridge Futures Fund LLP said the trustee James Giddens has refused to help locate its account with MF Global Inc, even after transferring some 38,000 other accounts and giving customers access to some of their collateral.<br /><br />http://www.reuters.com/article/2011/12/02/us-mfglobal-missing-account-idUSTRE7B12AD20111202?<br /><br /><br />Crony Reservoir Dogs ...Where did you transfer the account Mr. Green ? Offshore.....<br /><br />http://www.youtube.com/watch?v=aTOVcREgDZ0Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-37510260616818314882011-12-02T22:08:09.159-07:002011-12-02T22:08:09.159-07:00I went to get myself a bag of Doritos and the $0.9...I went to get myself a bag of Doritos and the $0.99 bag of air is now $1.09. Thank, Bernanke.<br /><br />Boycott the Fed and Frito Lay.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-52816073619835771802011-12-02T20:05:10.401-07:002011-12-02T20:05:10.401-07:00Someone said she was nuts...she's not
A Powe...Someone said she was nuts...she's not<br /><br /><br />A Powerful Interview with Ann Barnhardt<br /><br />http://www.netcastdaily.com/broadcast/fsn2011-1201-1.mp3Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-9216795023683574272011-12-02T19:35:58.167-07:002011-12-02T19:35:58.167-07:00Friday, December 2, 2011
Confidence Is Frying, Sub...Friday, December 2, 2011<br />Confidence Is Frying, Subtle Hints Suggest Caution<br />The financial system is highly interconnected. Unlike 2008, it won’t be so easy to engineer bailouts with public funds if the dominoes based on fictionalized balance sheets start falling again. Commentary: It's not 2008. Financial firms have no savior<br /><br /><br />Unless MF clients are made whole in every way, the system is broken. It is as if the heads blew off the engine of finance. Where can you keep your money and investments if a clearinghouse is allowed for whatever reason to go broke leaving the clients to suffer. Are you safe even in a custodial account if the clearing mechanism can erase assets across the board as a product of insolvency for any reason. The system is a critical seizure.<br /><br />It may take some time, but even the financial sheeple are going to worry about their own funds. God help you if you hit gold right on a paper exchange with the wrong<br />clearing facility. You are wholly dependent on the ability of the clearing house to pay into your account the winning by deducting those funds from the loser. You are wholly dependent on the ability of the clearing house to guarantee the safety and securities (are T Bills securities?) beyond SIPC levels.<br /><br />SIPC is underfunded but would be made whole by funny paper. God help all the Exchange Traded Funds that are nothing more than house of derivative paper requiring a sound clearing system to have even an excuse for existing.<br /><br /><br />http://edegrootinsights.blogspot.com/2011/12/confidence-is-frying-subtle-hints.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-63080710293547362182011-12-02T16:55:51.306-07:002011-12-02T16:55:51.306-07:00(Dave)
Hey GYC! Found a great BBQ place here in ...(Dave)<br /><br />Hey GYC! Found a great BBQ place here in Denver. You have a great weekend as well.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-79192150278215347782011-12-02T15:42:29.043-07:002011-12-02T15:42:29.043-07:00Hey Dave! Been awhaile since I left a comment, but...Hey Dave! Been awhaile since I left a comment, but I read every day. Have a great weekend.EconomicDisconnecthttps://www.blogger.com/profile/02802078645713106743noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-27245328968458535152011-12-02T15:35:18.460-07:002011-12-02T15:35:18.460-07:00The video is good...I think he's kind of optim...The video is good...I think he's kind of optimistic.<br /><br />Kyle Bass Explains The New World Order - Panel Presentation<br />On Greece:<br /><br /> For those who think a 50% write-down on debt will fix Greece, you<br />have lost your mind. It is only a full wipe-out of the<br />non-TROIKA-owned debt that is the only mathematical way for Greece to<br />have any chance.<br /><br />On the IMF and its role as global savior<br /><br /> He discusses in some detail Keynes and the IMF formation and the<br />new world order he foresees as our era of the largest peacetime<br />accumulation of global debt has no precedent (as it has historically<br />ended in conflict or been created by conflict).<br /><br />And how this debt saturation will inebitably play out:<br /><br /> Fundamentally, its about the social fabric of the world...what<br />does this all mean? It means war.<br /><br />And summarizing for every long-only talking head pitch-man:<br /><br /> This is not a cyclical rebound from a crisis we had two years and<br />you should NOT be buying stocks because a P/E ratio is low relative to<br />historical S&P behavior because the E is wrong. We are going to see<br />declines and people don't know how to position themselves for<br />declines. We are at peak earnings now! Earnings only look good because<br />if you take all the bad assets and put them on the public balance<br />sheet.<br /><br /><br />http://www.zerohedge.com/news/kyle-bass-explains-new-world-order?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-5519491075474860482011-12-02T13:31:11.316-07:002011-12-02T13:31:11.316-07:00I'm glad it's Friday. Why? Because later o...I'm glad it's Friday. Why? Because later on this afternoon the spot price of Gold and SIlver will remain stationary for about 48 hours. That's right, won't go up and won't go down. It kind 'a gives me a sense of satisfaction because it's the only time they can't manipulate it. I know they want to. I know they're trying to figure out a way to get in there and "play" with it, just to fuck with us during the weekend while we're busy being busy doing absolutely nothing with our lives, but for the time being, they can't. So, I sit back and find myself enjoying the special 48 hour period of down time. <br /><br />On the other hand, every time I look at that Kitco display with the spot price of the four metals I ask myself a couple of things like "Why in the hell do they have Platinum and Palladium in there? I mean, does anybody buy that shit? Why? It doesn't even look like a PM! I wouldn't be caught dead with it after a perceived collapse. Who'd buy it? How could one tell it from some other cheap scrap metal? No thanks. And, why have the little green and red arrow next to the price of the metal. At this point, who gives a fuck if it's green and Silver is up 14 cents. As long as Silver is below 50 bucks, it's DOWN. DOWN DOWN DOWN! Dump the green and red arrows, Kitco. Red (flowing blood out of my veins), if it's below $50 this year, and red if it's below $100 next year. Keep it simple. Nobody in their right mind cares about the insignificant daily "ups and downs". Anybody with a morsel of noggin knowingness is out of the paper markets anyway, right?European Americanhttp://www.flickr.com/photos/54175126@N06/5477604073/lightbox/noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-31737868851754470232011-12-02T12:36:02.409-07:002011-12-02T12:36:02.409-07:00B Chilton CFTC (Text/Mails), CCC White Paper MF Gl...B Chilton CFTC (Text/Mails), CCC White Paper MF Gl Warehouse Certs <br /><br />Warren Edward Pollock (wepollock) goes into bulldog mode once again as he trades texts and emails with media darling CFTC's Bart Chilton. Warren likes to talk to the issue not the person so my words to Bart was to get away from the media and congress and to get himself into the bankruptcy court on our behalf.. I do believe he is one of the good guys, but using the corporate strategy of success at the cost of failure is not acceptable. I review that pending status of commodity certificates as either pooled or identifiable property. I talk about DSRO Designated SElf Regulatory Organizations and the idea of Fiduciaries where you are supposed to care for others assets in preference and in advance of your own interests. I mention a call pending front the COO of the CME. Also, I discuss the idea of leadership as a solutions point, where are the leaders? where are the executives? I mention the concept of a PUBLIC fiduciary which something the banks still do not get this day. I contrast accounting standards and application by Price Waterhouse to that of now defunct Arthur Anderson. I mention a 2005 article I wrote predicting this very thing... Where is FASB Financial Standards?<br /><br /><br />For a tidy commission, Wall Street firms are happy to establish trust funds to organize, place, sell and administer asset-backed securities. In these instruments, your debt via a car loan represents someone else's asset. Behold the magic of creative credit. Individual car loans are no longer illiquid, nor limited by the constraint of a corporate balance sheet.<br />The cash flow from any seemingly illiquid revenue stream can be monetized. Almost everything financial - tobacco settlements, future tax revenues, credit card balances, sovereign debt and spreads - can be packed up and sold.<br /><br />http://www.youtube.com/watch?v=RFdNP3wGm9Q&feature=colikeAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-27745853083832711802011-12-02T12:27:52.514-07:002011-12-02T12:27:52.514-07:00ha, yell that out to Nadal & Djokovic next tim...ha, yell that out to Nadal & Djokovic next time you see them live :) but yeah, it does look really wimpy :)<br /><br />I also have the Sampras/Graf one-handed slice backhand down...wimpy but much less wimpy than two-handers :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-57492652678647404772011-12-02T12:00:49.165-07:002011-12-02T12:00:49.165-07:00(Dave)
LOL. Two-handed backhands are for wussies....(Dave)<br /><br />LOL. Two-handed backhands are for wussies. I'm a lefty with a one-handed backhand and a decent serve, especially to the ad court.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-82176603871475024002011-12-02T11:45:12.811-07:002011-12-02T11:45:12.811-07:00Well just because you make a serfs wage doesn'...Well just because you make a serfs wage doesn't mean your kids have to do without for xmas...just rent the fkin toys...in financial market parlance it's a toy swap...good times indeed for all???I wonder if this will impact retail sales? Stuffing channels will be renamed stuffing stockings!!!!!<br /><br />Parents Can Rent Toys At New Website<br />“It’s the ideal situation for the holiday time,” Paul said. “You can stuff toys under the tree for under 50 bucks. If you were out there buying them, there’s just no way you could do that.”<br /><br />Paul and Pam choose the toys that are best suited for their son Will and just like Netflix, they go into a queue. Depending on the service plan, every month or every other month, a box comes in the mail with a new set of toys from the queue. When the time is up, send the toys back and a new box will be on its way.<br /><br />http://boston.cbslocal.com/2011/12/01/parents-can-rent-toys-at-new-website/Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-31371522810959910162011-12-02T11:13:00.751-07:002011-12-02T11:13:00.751-07:00great read Dave, thank you.
oh, how I miss the ...great read Dave, thank you. <br /><br />oh, how I miss the occasional tennis - colder in these parts for some time - a wannabe Pete Sampras without the killer serve, volley skills and one handed backhand :) But loved the exercise, sun shining down and every once in a while, a surprise Sampras backhand down the line that ignites the soul for the next round of unforced errors :)<br /><br />Looks like these central planners are painting a picture of a recovering economy (read: continued increase in money supply at a pretty good clip) and upcoming global QE. 2012 = the year inflation 'officially' takes off. Scary to think what it'll look like when decades of pent up/hidden inflation is upon us...but the cats coming out of the bag.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-38056247181872250592011-12-02T10:40:22.706-07:002011-12-02T10:40:22.706-07:00(Dave)
LOL. Thanks Brian. Indoor clay (har tru -...(Dave)<br /><br />LOL. Thanks Brian. Indoor clay (har tru - the gray "kitty litter" clay) courts. Looks like it's going to be too cold to hit outside for at least a week.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-5372559119229483752011-12-02T10:04:15.399-07:002011-12-02T10:04:15.399-07:00Great read as always Dave. I linked your piece on ...Great read as always Dave. I linked your piece on FG. Tennis? Geezus. I can barely walk up my stairs. I am guessing you don't play outside.Brianhttps://www.blogger.com/profile/11009623520148094685noreply@blogger.com