Full story here. Never a dull moment on Planet Finance. Seems Joe Schmoe-behind-on-his-payments is in good company with Dubai.
“Just a year after the global downturn derailed Dubai’s explosive growth, the city is now so swamped in debt that it’s asking for a six-month reprieve on paying its bills — causing a drop on world markets [...]
Full story here from The International Forecaster.
The Guardian web site is reporting that London based investment company Hermitage Capital has turned to the web to expose a massive fraud involving the highest levels of government. Hermitage CEO William Browder has released his story on the web. It details corrupt and criminal acts that have resulted [...]
Lest I be accused of being a “Dora Downer” for posting all of the economic poo poo, I am posting some links that should put you all in a better mood. If watching these doesn’t cheer you up, have a couple of mojitos and watch them all again.
http://www.youtube.com/watch?v=8m9JrBXi9ag
http://www.youtube.com/watch?v=hGjC0wbUXzk
http://www.youtube.com/watch?v=XhgVIbO83o4
http://www.youtube.com/watch?v=A5GryIDl0qY
http://www.youtube.com/watch?v=npjOSLCR2hE
If you think you have it hard in [...]
Our Sunday sermon will be on the DTCC, the Depository Trust & Clearing Corp. Never heard of it? You should. “Last year DTCC settled $1.88 quadrillion in securities transactions across multiple asset classes. We essentially turnover the equivalent of the U.S. GDP every three days.”
Per ZeroHedge.com here:”Below I present DTCC’s full testimony before the House [...]
A brief indulgence into a big, ugly black hole. From Joan Roelofs via Counterpunch.
Not getting loads of foundation grants? Support yourself by ShadowTrading!
“We in the United States have been endowed with enormous philanthropic foundations, which have been fixing up the world for the last 100 years. One might wonder how their activities relate to the [...]
Full story here. From Henry CK Liu at Asia Times.
“The conventional terms of inflation and deflation are no longer adequate for describing the overall monetary effect of excess liquidity recently released by the US Federal Reserve, the nation’s central bank, to deal with the year-long credit crunch.
This is because the approach adopted by the [...]
Transcript of the interview with C-SPAN here. Obama flat out says the US is out of money. An unusual bit of candor for a sitting president–and only 4 months into his term. You can read the rest at the link. I was outraged enough by the below quote–which will probably get ZERO airplay on a [...]
Full story here. Economist Nouriel Roubini’s op-ed piece from the NYTimes.
The good news is that you can apply ShadowTraders technology to any stock, futures or option contracts.
“…Traditionally, empires that hold the global reserve currency are also net foreign creditors and net lenders. The British Empire declined — and the pound lost its status as the [...]
Found here at the Stanford Law Review. Don’t have Charlie to whisper good advice in your ear? Go to ShadowTraders and get trading to prosperity.
“…So on a scale of 1 to 10, how big a mistake was it that
they let Lehman Brothers go?
I don’t think that was a mistake. You can’t save everybody.
That would have [...]
If Goldman gets its hand slapped for $60mm over 714 mortgages what does this mean for Countrywide Financial? They were very big in Boston. Merrill Lynch was at the top of those securitization tables. That is what got Stan O’Neal fired. If the settlement in Boston is representative of what will be forthcoming then Bank of America is going to be facing a very big number. And that is just Massachusetts. The AGs in the all of the other states, especially Florida, Nevada, Arizona and California must be licking their chops at this news.