Posts Tagged ‘derivatives’

Most sobering lecture on our future

Sunday, October 31st, 2010

Full story here.

Basel III: The Global Banks at The Edge of The Precipice

Tuesday, September 21st, 2010

Full story here from Global Research. Musical homage here, here, and here.

The Global Too Big To Fail Banks are so precarious that literally anything can trigger a collapse in the coming months.

I have read recent commentaries on Basel III posted to various renowned websites and financial publication, but they missed (or deliberately misled) the underlying message of the proposals, the implementation of which will be delayed till 2017 and some till 2019.

Basel III is pure spin and its timing was to assuage the deep-seated fears that there are no solutions in sight to save the fiat money system and fractional reserve banking. (more…)

The ominous silent canary

Thursday, September 16th, 2010

Full story here from Jim Willie (The Golden Jackass).

Alan Greenspan had full knowledge of his betrayal to the principles of sound money. He wrote early in his career about the only legitimate basis for a monetary system, namely Gold. His published works from four decades ago read like an indictment against his career for monetary crimes against the nation. His accommodation, giving the financial sector what they wanted, betrayed his mindset. He knew the nation courted disaster with a long delayed fuse. (more…)

There will be no double-dip…it will be a lot worse

Monday, August 16th, 2010

Full story here from ZeroHedge. And, if you’re up to it, a quick language lesson.

by Egon von Greyerz – Matterhorn Asset Management

No, there will be no double dip. It will be a lot worse. The world economy will soon go into an accelerated and precipitous decline which will make the 2007 to early 2009 downturn seem like a walk in the park. The world financial system has temporarily been on life support by trillions of printed dollars that governments call money. But the effect of this massive money printing is ephemeral since it is not possible to save a world economy built on worthless paper by creating more of the same. Nevertheless, governments will continue to print since this is the only remedy they know. Therefore, we are soon likely to enter a phase of money printing of a magnitude that the world has never experienced.  But his will not save the Western World which is likely to go in to a decline lasting at least 20 years but most probably a lot longer. (more…)

How to thwart the assassins of the American Dream

Sunday, August 15th, 2010

Full story here from Janet Tavakoli.

Arianna Huffington’s new book, Third World America: How Our Politicians are Abandoning the Middle Class and Betraying the American Dream, paints a grim picture of the State of the Union:

“Every day, Americans, faced with layoffs and tough economic times, are forced to use their credit cards to pay for essentials such as food, housing, and medical care — the costs of which continue to escalate. But, as their debt rises, they find it harder to keep up with their payments. When they don’t, banks, trying to offset losses in other areas, turn around, hike interest rates, and impose all manner of fees and penalties…”
Third World America, (P. 77) (more…)

Economy Heading for a Systemic Collapse into Hyperinflationary Great Depression

Friday, August 6th, 2010

Full story here from ZeroHedge.

When Fed Chairman Ben Bernanke admits to seeing an “unusually uncertain” economy ahead, it’s pretty terrifying to imagine what he’s really thinking. What John Williams envisions—and he’s by no means looking to the far horizon—is a systemic collapse, a hyperinflationary great depression and the cessation of normal commerce. Despite that bleak outlook, however, when the economist and editor of sat down for this exclusive Energy Report interview, he also had some good news. (more…)

Paradigm shift in the financial system

Thursday, August 5th, 2010

Full story here from Jim Willie.

A theme of frequent mention has been the Paradigm Shift in the financial world. It refers more specifically to the global shift away from a USDollar-centric alignment. The major industrialized nations of the world, along with major energy producers, struggle to develop a monetary and commercial system that is not based upon the crippled fraudulent bloated USDollar. The challenge is daunting, since expertise on financial structures, even in an honest legitimate fashion, is somewhat lacking outside the Anglo world. Changes indeed come. (more…)

The Future Recession In An Ongoing Depression

Wednesday, August 4th, 2010

Full story here from ZeroHedge. Hitler loses his ShamWows here.

Raoul Pal, who retired from managing money at the ripe age of 36, after co-managing GLG’s Global Macro Fund, and the hedge fund sales business in equities and equity derivatives at Goldman among others, and has been publishing the attached Global Macro Report since, has just come out with the most condensed version of truth about our economic reality we have read in a long time. The attached report provides the most in depth observation on the “future recession in an ongoing depression” which is arguably the best way the describe the current economic predicament. (more…)

Decade long decline in housing

Tuesday, July 27th, 2010

Full story here from Mike Whitney.

The housing depression will last for a decade or more. This is by design. The Fed has been working with the banks to withhold inventory so prices do not fall too fast or too far. That way the banks can manage their write-downs without slipping into insolvency. But what’s good for the banks is bad for the country. Capital impairment at the banks means no credit expansion in the near-term. It means the economy will continue to contract, unemployment will remain high, and deflation will push down wages and prices. Everyone will pay for the mortgage-backed securities scam that was engineered by the banks. (more…)

Treasury bond fraud and debt monetization

Thursday, July 22nd, 2010

Full story here from Jim Willie, The Golden Jackass, my favorite curmudgeon of precious metals and erstwhile detractor of fiat funniness.

A significant feature of fiat money systems is the privilege for the custodian to commit fraud, big fraud, gargantuan fraud, even counterfeit. Fannie Mae might function as the clearinghouse for numerous massive role programs with $trillion fraud behind each, hidden from view, especially since it was conveniently nationalized. Follow some other fraud schemes, right out in the open. Surely such recount only touches the surface, but these shenanigans are advanced forms of fraud. They are smoking guns of USTreasury fraud and counterfeit, with strong whiffs of monetization. Much more monetization is to come, fully endorsed and sanctioned. Other clever techniques are being used, given the Quantitative Easing has officially been halted. (more…)