Shadowtraders

Full story here from Jim Willie a/k/a the Golden Jackass.

Many observers to the wild gyrations, deep contortions, extreme measures, and other bizarre activity in the government and banking arenas are suffering from severe confusion. The public is alarmed, even frightened, by the sequence of events, without much benefit of comprehension of what is happening or which clans are in control. The degree of deception hit a peak during the TARP Fund creation and disbursement, done behind private closed doors for the replenishment of sacred preferred stock, that bridge between corporate bonds and stock equity. The deception hit a very high pitch with the financial titan failures, the entire string of them. It has never stopped since. Read more »

Full story here. Gads, the Koch brothers  are straight out of the Monty Burns school of management…

Mainstream America is finally getting to know the billionaire brothers backing the libertarian movement, thanks to a pair of dueling profiles inNew York and The New Yorker. Now that we’ve heard about their charitable giving, David’s 240-foot mega-yacht and role as patrons of the Tea Party movement, it’s time to ask a more serious question: How libertarian are they? Read more »

1 Sep -

Kazakhstan mayor hangs himself. Interfax-Kazakhstan, 31 Aug. 10: “The head of the Yereymentau town in Kazakstan’s Aqmola Region, Murat Abdulin, has hanged himself in his own garage . . . no suicide note was found.”  URL n/a.

Full story here from ZeroHedge.

Finally, some happy news for all the bankers who have been living in fear lately of how the new financial regulations – also known as the Dodd-Frank Legislation – will affect their business. I’m proud to announce: Problem solved! Read more »

Full story here from ZeroHedge.

Another ridiculous market reaction following the ADP read today, when the AUDJPY initially dropped, only to see every deranged Japanese housewife, and anyone else with an FX account plough into it taking full advantage of 50x+ leverage to spook remaining weak short hands out. The catalyst: good news is good news, bad news is better news, as, just like Bank of America which just threw in the towel (more in a post momentarily), any incremental economic snapshot now means either more QE by the Fed or more QE by the Fed (and other CBs). Read more »

Full story here from Market Oracle. But you may ask: “Why are you trying to bum us out on a total rally day?”  It could go Dow 36,000 but fail to address ANY of the pressing issues of crumbling infrastructure, unemployment or financial onanism that we find ourselves mired in today.

Readers of my articles will recall that I have warned as far back as December 2006, that the global banks will collapse when the Financial Tsunami hits the global economy in 2007. And as they say, the rest is history. Read more »

Full story here from Paul Craig Roberts.

Have economists made themselves irrelevant?  If you have any doubts, have a look at the current issue of themagazine, International Economy, a slick publication endorsed by former Federal Reserve chairmen Paul Volcker and Alan Greenspan, by Jean-Claude Trichet, president of the European Central Bank, by former Secretary of State George Shultz, and by the New York Times and Washington Post, both of which declare the magazine to be “ahead of the curve.” Read more »

Full story here from ZeroHedge. Of course, your local econo-pessimist could’ve told you this too.

Paul Farrell’s take on Jeremy Grantham’s recent essay Seven Lean Years (previously posted on Zero Hedge) is amusing in that his conclusion is that should Obama get reelected, his entire tenure will have been occupied by fixing the problems of a 30 year credit bubble, and if anything end up with the worst rating of all time, as the citizens’ anger is focused on him as the one source of all evil. ” Read more »

Full story here. Take the time to read ALL of this– you’ll be glad you did.

Hardly another serious plague to society is associated with more hypocrisy and erroneous assumptions than the drug business. So Lars Schall talked with Catherine Austin Fitts, who explains the real deal: “It’s a very old business. It goes back to the question of how you control the most territory with the fewest players as possible.” Read more »

Check this out: Gold went up to 3401.50?!?!?!?

http://finance.yahoo.com/q?s=GCU10.CMX

Last Trade:	1,236.60
Trade Time:	2:16PM EDT
Change:	1.30 (0.11%)
Prev Settlement:	N/A
Open:	1,237.10
Bid:	1,237.30
Ask:	1,237.40

Day’s Range:	1,234.00 -3,401.50
Volume:	0
Open Interest:	N/A
Session:
Exp. Date:	N/A