Best Of The Best Share Discussion Threads

[traderabc] 24/7/2009 16:51

“Paper money eventually returns to its intrinsic value – ZERO”
Voltaire 1729


July 14, 2009
THE DARK YEARS ARE HERE


by Egon von Greyerz – Matterhorn Asset Management

In this newsletter we will outline what is likely to be the devastating effect of the credit bubbles, government money printing and of the disastrous actions that governments are taking. Starting in the next 6 months and culminating in 2011-12 the world will experience a series of tumultuous events which will be life changing for most people in the world. But 2011-12 will not be the beginning of an upturn in the world economy but instead the start of a long period of economic, political and social upheaval that could last for a couple of decades.

We will discuss the three areas that we for some time have argued will determine the faith of the world for the foreseeable future, namely the coming unemployment explosion, the next and much more serious phase in the credit markets and finally the likely hyperinflationary or just inflationary effect this will have on the world economy and investments.

[traderabc] 23/7/2009 19:12

This Is Where Each of Your 1.421 Trillion Dollars Is Going In 2010


Gizmodo
Thursday, July 23, 2009



Want to know where your tax money is going next year? Here’s more than you can handle in the new 2010 edition of the Death and Taxes poster. Zoom in to see how much those F-35 fighters and lasers cost.

The Death and Taxes poster shows every single expense according to the president’s 2010 budget request. The circles you see here are proportional in size to their actual weight in the total budget. Each of the figures include the percentage change compared to 2009.

[traderabc] 23/7/2009 19:12

Good, the man has made a stand.

Spitzer: Federal Reserve is ‘a Ponzi scheme, an inside job’


Daniel Tencer
Raw Story
Sunday, July 26, 2009

The Federal Reserve — the quasi-autonomous body that controls the US’s money supply — is a “Ponzi scheme” that created “bubble after bubble” in the US economy and needs to be held accountable for its actions, says Eliot Spitzer, the former governor and attorney-general of New York.

In a wide-ranging discussion of the bank bailouts on MSNBC’s Morning Meeting, host Dylan Ratigan described the process by which the Federal Reserve exchanged $13.9 trillion of bad bank debt for cash that it gave to the struggling banks.

[traderabc] 23/7/2009 19:10

Scams And Bailouts The Cause of World Depression


Bob Chapman
International Forecaster
Thursday, July 23, 2009

The US Illuminists are gambling big. This is the most dangerous part of their strategy, namely, how to take down America and the dollar without destroying themselves in the process, both financially and politically. They are going to get smoked. Even now the stock, bond and commodities markets are spiraling out of their control, and their new outrageous salaries and bonuses are about to be debauched as they are left holding the bag with huge positions in dollar-denominated paper assets. They will try to dump this paper without sending gold and silver on a moon-shot, but they are doomed to failure.

[glennborthwick] 23/7/2009 14:42

ok statements this week. dont hold.

[traderabc] 23/7/2009 13:43

'I'll tell you the truth -- I still haven't made any sense out of the whole mix. If I've come to any conclusion it is this -- 85% of mankind is clueless and living on a hand-to-mouth basis. 5% of mankind is smart and pretty much knows what they are doing. Ten percent are intelligent enough to follow the 5%.'


Best of Richard Russell
July 14, 2009


Which one is it going to be -- deflation, inflation or hyper-inflation? You can find claimants to each one of these possibilities. No wonder they call economics "the dismal science." Nobody's got the answer. And it occurs to me that maybe the answer is "all three of these, each one arriving at an inconvenient time."

A few years ago I stated that huge levels of debt constituted a "synthetic short against the dollar" In other words, as debt becomes a problem (and it certainly is a problem today) an increasing number of dollars will be needed to service the debt. Today the whole world is deep in debt. Consumers are in debt, corporations are in debt, states and cities are in debt, and nations are in debt. A good portion of this debt is denominated in dollars. Therefore, there is a tremendous need for dollars. Which is why the dollar is strengthening.

[traderabc] 23/7/2009 13:16

Bernanke Sidesteps the Three Big Questions, Again


Gary North
Lew Rockwell.com
Thursday, July 23, 2009

In a recent international Bloomberg poll, Bernanke was rated by investors as the greatest central banker, the man who saved the world’s economy.

All it took was a doubling of the monetary base and $3 trillion – as of today – of government bailout money.

The FED still faces three problems. (1) If it deflates, the financial markets will collapse. (2) If it does nothing, there will be mass price inflation if banks start lending, making use of the FED’s doubling of the monetary base. (3) If banks don’t start lending, the recovery will not appear. The FED wants to avoid all three.

How?

[traderabc] 22/7/2009 22:08

The full Rogers interview now updated in post 573 (43 mins)


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The Myth of Fed Independence


Ron Paul
Thursday, July 23, 2009

Before the Committee on Financial Services, Humphrey Hawkins Hearing on Monetary Policy, U.S. House of Representatives, July 21, 2009

Mr. Chairman, at a time when we find ourselves once again receiving a report on the Federal Reserve’s conduct of monetary policy, it is more important than ever that we in the Congress push for more effective oversight and transparency of the Federal Reserve System. It would be unconscionable for this body, especially after the financial crisis of the last two years, not to take forceful and deliberate action to bring more transparency to the Fed.

A common misconception is that the Fed is completely independent of political pressure, and that any attempt to oversee or audit the Fed would jeopardize that independence. While the Fed has far too much authority to make agreements with foreign governments and central banks, or create temporary liquidity facilities, the governors and, more importantly, the chairman, are appointed by the President. The chairman is the dominant figure within the Board of Governors and the Federal Open Market Committee, the public face of the Fed, and he must be reappointed by the President every four years, with the advice and consent of the Senate. Thus, his job security as chairman is dependent on keeping the President and the Senate pleased. Every time the chairman acts, it is with the knowledge that within four years he will be forced to justify his actions to the President and the Senate.



Meetings of the Federal Open Market Committee, the committee responsible for conducting monetary policy and setting interest rates, are held in secret. Minutes are released after three weeks, and transcripts after five years. The ostensible reasons for this secrecy are that too much openness will either hamper the freedom of FOMC participants to discuss issues freely, or that markets will be unnerved. However, this is not really a condemnation of transparency, but rather a sign that far too much power has been given to one tiny organization.

We here in the Congress hold our committee hearings publicly, broadcast on C-SPAN and over the Internet. We are the most powerful branch of the government and our decisions have no less effect on the lives of everyday Americans than the decisions of the Fed. More importantly, our discussions have a direct impact on our ability to win re-election. Every word we speak can be used against us in our campaigns for re-election. It would be far easier for us to hold hearings in secret and release minutes and transcripts well after the fact. Yet we understand that the American people deserve to know not only what comes out of Congress, but also what goes on in the legislative process.

In the same way, it is vital that the American people understand what is going on inside the Fed. Attempts at enhanced transparency and auditing of the Fed’s auctions are not intended to dictate monetary policy to the Fed or second-guess the Fed’s actions. To my knowledge not a single legislative proposal put forward thus far has this as its intended goal. We as Congressmen have the ultimate responsibility for keeping the Fed in check, but how can we fulfill that duty if we do not know what the Fed is doing? Greater transparency is the first step, and only then can we begin to perform effective oversight. Given the Fed’s abysmal stewardship of the dollar and repeated fumbling of financial crises, we owe this to the American people.

[traderabc] 22/7/2009 22:03

This one is funny. (Edited 23 July Full version)

Economy And Currency Crisis - Jim Rogers on Bloomberg

[traderabc] 22/7/2009 22:02

Jim Rogers Investments Strategy

[traderabc] 22/7/2009 22:00

Ron Paul Opening Statement Fed Hearing 07/21/2009

[traderabc] 21/7/2009 20:08

Towards a Global Currency?


Towards the integration of the Dollar and the Euro?

Michel Chossudovsky
Global Research
Tuesday, July 21, 2009

With a view to restoring financial stability, World leaders have called upon the Group of 20 countries (G-20) to instigate a new global currency based on the IMF’s Special Drawing Rights (SDRs).

The media has presented the global currency initiative as a consensus building process, in which BRIC countries (Brazil, Russia, India and China) would participate in the revamping of the international monetary system.

[traderabc] 21/7/2009 19:30

Prescription for Disaster

Peter Schiff
Jul 20, 2009

The health care bill unveiled this week by the House of Representatives (with the full support of the Obama administration) is one of the worst pieces of legislation ever drafted. If passed, it will reduce the quality and increase the cost of health care in America. But more importantly, it will severely undermine our already weak economy. To burden a country currently in the throes of a violent recession with such a bureaucratic albatross clearly illustrates the scarcity of economic intelligence in Washington.

[traderabc] 21/7/2009 19:29

Goldman Sachs: A Vampire on the Jugular of America

Darryl Robert Schoon
Posted Jul 20, 2009

[traderabc] 21/7/2009 19:28

Jim Rogers there were huge opportunities in this crisis

[dutch alert] 20/7/2009 12:51

Thursday, July 16, 2009
Jim Rogers Printing Money is not the Solution never been

Before FDR took over, the great depression had been managed
the way Rogers is asking for and it was a disaster.

[traderabc] 19/7/2009 12:53

Silver - The Metal of Hope
by David Morgan
Precious Metals Analyst, www.silver-investor.com
July 17, 2009

Recently I was asked to do an interview with Philip Judge of The Anglo Far-East Company.

After the interview was completed, Mr. Judge sent our interview out with a short story called "THE METAL OF HOPE."

His missive begins, “In history, gold alone has been the money of Kings. However, throughout most of recorded time there has been a metal far more important to the average man than gold. In the ancient of days it was silver alone that could provide the means for a slave to save and eventually purchase his freedom, which is why silver became referred to as the Metal of Hope.

[traderabc] 19/7/2009 12:35

Paulson Threatened Great Depression, Food Riots To Get Bailout Bill Passed


More information concerning ex-Goldman Sachs CEO’s blackmail of Congress revealed



Paul Joseph Watson
Prison Planet.com
Friday, July 17, 2009

More information has come to light regarding former Treasury Secretary Henry Paulson’s threats to Congress last fall that martial law would ensue unless they passed the bailout bill.

During Paulson’s first appearance on Capitol Hill since he left office yesterday, the former CEO of Goldman Sachs said he told Congress privately that if they rejected the bailout bill another great depression would ensue, that there would be a breakdown in law and order as well as food riots and civil unrest, adding that he couldn’t reveal such things publicly for fear that the situation would “terrify the American people and lead to an even bigger problem”.

[traderabc] 19/7/2009 12:30

Rep. Alan Grayson: “Hank Paulson Had a $700M Conflict of Interest”


Campaign For Liberty
Friday, July 17, 2009

[traderabc] 19/7/2009 12:20

Swiss banks running out of storage space for gold bullion


Mineweb
Friday, July 17, 2009

In a note entitled No more space for Gold Bars, Swiss news website 20 Minuten Online reports that Swiss banks are running out of secure storage space for gold bullion held by investors and institutions. Fears of hyperinflation, the economic downturn and the success of gold index funds (ETFs), which are supported by physical gold, has led to a run on precious metals investment – and in gold in particular, and in the necessary secure storage space in which to hold it..

[traderabc] 16/7/2009 19:54

Thursday, July 16, 2009
Jim Rogers Printing Money is not the Solution never been

Jim Rogers America has become a communist Country

[traderabc] 16/7/2009 13:35

'Yes is the answer to all the above questions. Bloody genius.'

Or crooks? This is one stock I wouldn't buy, it would be like investing in the FED.



All That Glitters May Not Be Goldman
by Chris Ciovacco, Ciovacco Capital Management, LLC. | July 15, 2009


Goldman Sachs (GS) is a bull market leader and a stock we like at CCM. In fact, we would consider buying it if the right entry point were to present itself. Understanding the current health of market leaders can give us some insight into the health of the entire market for risk assets. When market leaders are healthy, the market as a whole tends to be healthy. When market leaders begin to stall, it could mean trouble for the entire market.The purpose of this writing is point out some caution flags that we are observing on the daily and weekly charts of Goldman Sachs.

[traderabc] 16/7/2009 13:29

AGRI-FOOD THOUGHTS
by Ned W. Schmidt, CFA, CEBS
Schmidt Management Company
July 13, 2009

While visions of economic stability and other fantasies dance in the heads of the elves at the Federal Reserve and those in the Obama Regime, the financial markets seem to be losing momentum. Both equity markets and Gold have succumbed to the Summer heat, wilting under the Sun. But sorry that is not global warming, that is just Summer.

With the failing economic policies of the Obama Regime in place, investors might do better for themselves by looking beyond the current situation. Not all economies are mired in the floundering failures of North America. In other parts of the world economic growth continues, though of course it was wounded by the Western recession.