Best Of The Best Share Discussion Threads

[traderabc] 02/8/2011 20:56

Can't pay back, won't pay back

Iceland's loud No
The people of Iceland have now twice voted not to repay international debts incurred by banks, and bankers, for which the whole island is being held responsible. With the present turmoil in European capitals, could this be the way forward for other economies?
by Silla Sigurgeirsdóttir and Robert H Wade

[traderabc] 02/8/2011 20:52

[KR169] Keiser Report: Peak Everything With James Howard Kunstler

[traderabc] 02/8/2011 20:48

Can't find it balt, what day, what part?

[049balt] 02/8/2011 19:03

Very interesting interview with Rogers.

[traderabc] 02/8/2011 12:46

Debt Deal is a Blank Check
Peter Schiff
Aug 2, 2011

By supposedly compromising to raise the debt ceiling, Congress and the President have now paved the way for ever higher levels of federal spending. Although, the nation was spared the trauma of borrowing restrictions, the actual risk of default existed solely in the minds of Washington politicians. But the real crisis is not, nor has it ever been, the debt ceiling. The crisis is the debt itself. Economic Armageddon would not have resulted from failure to raise the ceiling, but it will come because we succeeded in raising it. This outcome falls along the lines that I had forecast (See my commentary, "Don't Be Fooled by Political Posturing" from July 9th).

Both parties are now pretending that the promised cuts in spending outweigh the increase in the debt limit. But the $900 billion in identified cuts are spread over a decade and are skewed toward the end of that period. There are an additional $1.4 trillion in cuts that the plan assumes will be identified by a bi-partisan budget committee. But similarly empowered panels in the past have almost never delivered on their mandates.

[traderabc] 02/8/2011 12:43

True, Rogers dosen't like the $, yet he ownes some presently because of the huge concensus against it, it may well rally some as it's severely beaten down at present, in the longer term it's toast.


Tuesday, August 2, 2011Jim Rogers : The dollar is going to disappear
Prophetic words from legendary investor Jim Rogers " I have always said , the Euro is great the world needs the Euro I own the Euro we got to do something about the dollar to replace the dollar the Euro would be perfect , no we do need a replacement for the dollar , The dollar is going to go , The dollar is going to disappear.....no, no, mark my words. In the next 20 years...I have a ten months old daughter she does not have an American bank account she has a European bank account , because she got to look after me some day , Hope to make sure she got sound money ...."

[049balt] 02/8/2011 10:24

The saga of the greatest property bubble in history comes to a sorry end!!

Cut-price €6bn NAMA landbank hits market
Farmers in pole position as thousands of acres put up for sale



Tuesday August 02 2011

Thousands of acres of land that NAMA paid almost €6bn for are set to return to agricultural production in the wake of Ireland's property crash.

The NAMA land portfolio contains 24 land banks that are classified as agricultural land and dozens more sites where development never started.

NAMA spokesman Ray Gordon said all of the sites listed in the NAMA portfolio are on the market, with more land to be added to the list in the coming months.

The majority of the sites are expected to go back into farming, including some sites where development had taken place.

"In some instances, where development had begun but there is no potential or economic merit in continuing, NAMA may invest money in returning the land to agricultural production," he admitted.

Land accounts for 18pc of more than €30bn of assets now owned by NAMA since it took over the loan books of developers.

The total acreage of land available is shrouded in secrecy, although it is believed to total thousands of acres across the 32 counties, Britain and parts of Europe. The list also includes nine quarries and some forestry land.

NAMA is refusing to disclose more details about the sites other than listing the address of each property. However, receivers at Ernst & Young are handling 400-500ac of land in Cork alone, the majority of which is classed as uncommenced development.

A spokesman for the company said most of the land would not be marketed as agricultural land but he admitted "there is land that will never, ever be developed".

Some of the Cork land has been in receivership for more than 18 months and all land suitable for agricultural production is currently being farmed.

The NAMA land portfolio includes farmland in every county except Mayo, Sligo, Leitrim, Roscommon, Fermanagh, Monaghan and Louth, although all 26 counties have undeveloped sites listed.

While some sites are located beside existing residential and commercial developments, others were bought purely on speculation of future development, as in the case of land beside the proposed Adare bypass in Co Limerick.

While NAMA has claimed there will be no fire sales of the assets in receivership, it also insisted there would be no speculative hoarding either, and Mr Gordon encouraged anyone with an interest in buying land to contact the receiver companies immediately.

Although all the land is currently for sale, receivers are expected to start actively marketing properties in the coming weeks.

John Dawson, from the Irish Auctioneers and Valuers Institute (IAVI), said some development land had fallen in value by up to 97pc as a result of the property crash.

He added that some sites that changed hands for millions of euro in the boom would end up being sold at €8,000-12,000/ac.

"In 20 years' time, sites within a town boundary might have some 'hope value' but outside of a town, they will be of no consequence," he said.

Tom Crosse, from GVM Limerick, maintained that even zoned land in rural areas would only command agricultural values.

"The wheel has come full circle and villages and rural towns will not recover," said the auctioneer.

- Caitriona Murphy

Originally published in

[traderabc] 01/8/2011 23:49

I often ponder those wise words from Jim Rogers


Likewise 049balt, he's one of the few who really understands what's going on and was willing to share that knowledge.

btw are you refering to a young horse or cow?

[049balt] 01/8/2011 22:31

trader. Tomorrow I am going to a local cattle mart, like many there I will go just to watch the amazing prices that will be paid for livestock, a thousand EURO will only get you a good yearling these days!. I often ponder those wise words from Jim Rogers and smile... I hope these good times will last a while longer!

[traderabc] 01/8/2011 22:16

On the Edge with Ned Nayler Leyland

[traderabc] 01/8/2011 22:11

Max Keiser: 'America will lose its sovereignty'

[traderabc] 31/7/2011 18:23

Could be Soros, the big question is are they right? Will they win this bet?

[5nappy] 30/7/2011 12:54

wouldn't surprise me it being Paulson again,i will keep looking around.

[traderabc] 30/7/2011 12:35

Wonder who put on that trade on, a hedge fund? the Chinese? Let us know if you hear anything 5nappy.

[traderabc] 30/7/2011 00:34

Apple Now Has More Cash Than The U.S. Government

Here's something to keep in mind as you follow this evening's congressional debate over the debt ceiling.


According to the latest daily statement from the U.S. Treasury, the government had an operating cash balance of $73.8 billion at the end of the day yesterday.

Apple's last earnings report (PDF here) showed that the company had $76.2 billion in cash and marketable securities at the end of June.

In other words, the world's largest tech company has more cash than the world's largest sovereign government.

[traderabc] 30/7/2011 00:29

Forget Russia, forget Iran... is America the greatest threat to world peace, asks ANDREW ALEXANDER in his provocative new book

[traderabc] 30/7/2011 00:27

Robin Griffiths: Private Wealth Strategist for Cazenove Capital Management - Robin has 44 years investment experience and is followed globally because of his ground breaking work on world stock markets, bonds, currencies and commodities. Robin developed his own system, analyzing stock and market trends and is considered to be one of the top strategists in the world. Cazenove as a group manages £15 billion on behalf of their client base and is one of the oldest and most respected names in the financial community, tracing its origins back to the 17th century.

[traderabc] 29/7/2011 09:27

Louise Yamada CMT: Founder & Managing Director of LYA / Technical Research Advisors - Louise is legendary for her technical work on Wall Street. She formed LYA an independent research company in 2005 to provide the same in-depth research that clients had come to expect during her 25 years at Smith Barney (Citigroup) as a top-ranked "Institutional Investor" technical analyst. As Managing Director and Head of Technical Research for Smith Barney, Louise was a perennial leader in the Institutional Investor poll, and was the top-ranked market technician in 2001, 2002, 2003 and 2004, before going independent.

[049balt] 28/7/2011 22:56

"When everyone is on one side of the boat you should move to the other side"

[traderabc] 28/7/2011 20:53

This should be good.

[KR168] Keiser Report: Ghettofication of America
Posted on July 28, 2011 by stacyherbert

We talk to Stefan Molyneux of Freedomain Radio.