Best Of The Best Share Discussion Threads

[traderabc] 15/6/2010 15:35

A long but very interesting article, sums up the last 20 years.

Submitted byJim Quinn of The Burning Platform

Two Decades Of Greed - The Unraveling

[traderabc] 14/6/2010 11:08

With respect to off-shore deep sea drilling, it seems the only thing they have learned in the last 30 years is how to make a disaster far worse, this is a must watch...

[traderabc] 14/6/2010 10:32

The Gulf Coast oil spill's Dr. Doom



Interview by Nin-Hai Tseng, reporter
June 9, 2010: 1:31 PM ET



FORTUNE -- As an oil and gas industry insider, Matt Simmons speaks with a bold voice and makes even bolder predictions. His 2005 book, Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy, which argued that Saudi Arabia's oil supplies are way more limited than most people think, raised his profile as an authority on the industry.





Edited 15/6 Now this, the comments section is interesting.



BP As Schrodinger's Cat: Simmons Upgrades Firm To Buy, Seeing It As Both Bankrupt And With $52 Stock Price At Same Time

Submitted by Tyler Durden on 06/12/2010 20:15 -0500

LBO


Ever wonder who may have been buying up every share of BP stock earlier this week, especially when it plunged to 14 year lows on June 9 amid media frenzy based on a Fortune story in which Simmons & Co.'s CEO Matt Simmons was quoted as saying that BP "has about a month before they declare Chapter 11." Why, Simmons & Co. itself, of course. In a note released to clients on Friday, Simmons & Co, upgraded BP from Neutral to Overweight, in which Mr. Simmons amusingly notes, "the kitchen sink of headlines have been thrown at BP shares over the past 2 weeks, thereby partially desensitizing the shares to the news." With his dire warnings of an imminent bankruptcy just two days prior to the upgrade, Mr. Simmons surely did his fair share to contribute to kitchen sink. It is only fair that after creating a near-panic in the name, that the firm would now suddenly be stuck in a Schrodinger's Cat world, in which BP is seen as both bankrupt, and having a $52 price target at the same time.

While we don't know if Simmons & Co. trades on a prop basis, and actually accumulates its own trading positions, the firm does disclose it has a Sales and Trading operation, which likely means that it does dabble in stocks for its own account. Reading the report does not help: the only relevant disclosure in Robert Kessler research piece is that "Simmons & Company International may seek compensation for investment banking services from BP p.l.c. and other companies for which research coverage is provided." While we wish the firm lots of luck in being picked as an advisor ever again by BP in this particular universe, we do wonder, and assuming the investment bank does not transact on its own account, just what other Simmons clients may have been axed in the stock, and had an interest in seeing a plunge in the stock, only to see the firm responsible for the 14 year low turn around 48 hour laters and issue a $52 price target on a company that according to the big boss himself, was supposed to be declaring Chapter 11 by mid-July. As we noted on Wednesday, "all this media rumormongering should certainly be taken with a blob of oil." Little did we know how bad it really was. Next up: we expect a consortium of banks led by Goldman to LBO all the offshore oil drillers imminently.

[traderabc] 14/6/2010 10:31

This oil spill in the Gulf is far more serious then we were initially led to believe, I find it amazing that loads of people on advfn are still discussing buying BP. The concept of BP paying a dividend this year is ludicrous, absolutely absurd.

I can see why Rogers recommends buying the real commodity, stocks, even the bluest of blue chips can burn and sink into oblivion in a matter of a few months.

As soon as they said they will pay for all the damages, that was the end of BP. If they had insurance they could have pulled through, but they didn't so they're finished, chapter 11 next.

[traderabc] 12/6/2010 23:16

[OTE58] On the Edge with David DeGraw & Economic Death Squad Leader, Timothy Geithner
June 12th, 2010 by stacyherbert
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Stacy Summary: Will upload the parts as they become available. Guest today is David DeGraw (here is his new site) to talk about his new report on financial terrorism. Also discussed is how the appearance of economic death squad leader, Timothy Geithner, at the head of the NY Fed should have been a warning sign.

[traderabc] 12/6/2010 11:30

Friday, June 11, 2010
Jim Rogers time to buy the Euro CNBC Squawk Box 10 June 2010




Legendary Investor Jim Rogers, chairman of Rogers Holdings, was on CNBC Thursday . he said : Everybody is so bearish about the euro that it looks like now is a good time to buy the single European currency,. The only big bull markets Rogers sees in the next decade is commodities and he suggests having real assets such as cotton, silver and natural gas for protection in these markets.
"I'm as confused as anybody else... I'm basically short stocks and long commodities and trying to figure out whether to add to the euro yet," Rogers told CNBC.



"Everybody is terribly negative on the euro right now, it's unbelievable how many bears there are and usually that indicates a rally,"

[traderabc] 11/6/2010 10:44

Soros Says 'We Have Just Entered Act II' of Crisis




Zoe Schneeweiss and Andrew MacAskill
Bloomberg
June 10, 2010
A d v e r t i s e m e n t


Billionaire investor George Soros said "we have just entered Act II" of the crisis as Europe's fiscal woes worsen and governments are pressured to curb budget deficits that may push the global economy back into recession.

"The collapse of the financial system as we know it is real, and the crisis is far from over," Soros said today at a conference in Vienna. "Indeed, we have just entered Act II of the drama."

Soros, 79, said the current situation in the world economy is "eerily" reminiscent of the 1930s with governments under pressure to narrow their budget deficits at a time when the economic recovery is weak.

Concern that Europe's sovereign-debt crisis may spread sent the euro to a four-year low against the dollar on June 7 and has wiped out more than $4 trillion from global stock markets this year. Europe's debt-ridden nations have to raise almost 2 trillion euros ($2.4 trillion) within the next
three years to refinance, according to Bank of America Corp.

[traderabc] 10/6/2010 12:48

[KR50] Keiser Report – Sucking Gold & Slurping Silver with Freddie, Fannie & Confucius
June 10th, 2010 by stacyherbert
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Stacy Summary: We look at "sucking gold and slurping silver" with Goldman Sachs in China and at banks refusing to buy back their toxic loans from Fannie Mae and Freddie Mac. In the second half of the show, Max interviews Vincent Fernando of Business Insider about debt deflation, wage inflation and austerity measures.

[traderabc] 09/6/2010 20:18

Wednesday, June 9, 2010
Jim Rogers : bullish on Natural Gas and Sugar




Jim Rogers :"I am long on natural gas as a matter of fact but I have never said that someone should buy natural gas. You might look at it instead of crude. Crude is very very high compared to natural gas. I would think you will probably find opportunities in natural gas. How high will it go, I have no idea. I am not smart enough to know that. You should watch your TV everyday and then you would know. The world is running out of known reserves of oil and over the next decade or so, the surprise is going to be how high the price of energy goes and how high it stays. We are running out of energy whether you like it or not. "
and regarding Sugar legendary investor Jim Rogers has this to say :"Sugar is up 300% or 400% from its lows of a few years ago. If you are talking about just this year, it has come down dramatically. I would rather be long sugar than short sugar. I have not owned sugar at the moment but I do not know whether one should buy it or not. I am not very good at market timing but sugar is another way to play energy plus sugar is another way to play the emerging prosperity in much of the world. "
WATCH INTERVIEW >>>>

[049balt] 09/6/2010 11:21

trader, I believe the future is bright for PRM.

[traderabc] 09/6/2010 11:14

049balt

PRM? If it's this one, I'm sorry to say the graph doesn't look good imo. The long term primary trend is going south. That said it has some support at 20p ish

[traderabc] 09/6/2010 09:49

Peter Schiff
Jun 8, 2010

In recent months, GDP numbers have rebounded - primarily as a result of record low interest rates reliquifying the credit market and government stimulus jolting consumer spending. Although the "positive growth" has delighted Obama's economic brain trust, it has done little to boost the fortunes of Main Street. As I have said many times, GDP largely measures spending, and spending is not growth.

Last Friday we received the latest indication that the real economy is not recovering in the slightest. The Labor Department reported that non-farm payrolls increased by 431,000 jobs in May. In a press statement, the President himself crowed at the news, noting that the official employment rate fell to 9.7% from 9.9%. However, just inches below the headline, red flags were everywhere. Only 41,000 of those jobs were generated in the private sector - far below the median forecast of 180,000. Even more troubling was the fact that the Census Bureau alone accounted for 411,000 new jobs, which were almost
exclusively temporary positions.

[traderabc] 08/6/2010 22:17

[KR49] Keiser Report – Markets! Finance! And Michael Hudson!
June 8th, 2010 by stacyherbert
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Stacy Summary: In this episode, we look at the scandals of financial wiseguys that 'know nothing,' including famed 'value investor,' Warren Buffett who says he knows nothing about his investments and nothing about how ratings contributed to the housing bubble. In the second half of the show, Max interviews economist Michael Hudson about the Latvian economy and real liberal economics.

[spec124] 07/6/2010 21:16

Ron Paul telling it as it is....

[traderabc] 07/6/2010 00:26

Good interview.

[OTE57] On the Edge with Paul Craig Roberts
June 5th, 2010 by stacyherbert
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Stacy Summary: Paul Craig Roberts, author of new book, How the Economy Was Lost, on outsourcing, libertarians, Israel and the BP oil spill.

[traderabc] 07/6/2010 00:19

Interview With Jim Rogers: The CPI Is A Lie And Inflation Is Going To Increase

Read more:

[votenotoliblabconlies] 06/6/2010 15:38

Global Banking: The Bank for International Settlements
Who controls global monetary affairs? The BIS! Based in Basle, Switzerland, the BIS is central bank to central banks. The BIS has greater immunity than a sovereign nation, is accountable to no one, runs global monetary affairs and is privately owned. This is a must-read report to understand the globalization process.






gazkaz - 6 Jun'10 - 02:22 - 85418 of 85428


Well worth the read
(well at least it is if you are interested in "a central piece" in finance part of the bigger jigsaw puzzle).

The BIS - Central Bank, to the Central Banks, which is generally all you get to know (& for good reason).

Good insight into how the con (that we all pay for) works between the Banks, Central Banks, IMF, World Bank & BIS.



The section re Brazil - may seem GREEK/PIIGS (as you might say) -familiar.

[049balt] 06/6/2010 15:23

trader, my biggest holding (after my farm) is PRM, it will survive and prosper in any economic situation.

[traderabc] 06/6/2010 14:45

How are you positioned for the coming collapse?

abc125,I'd hate to recommend a silver stock to you, I've had some great ones over the years but for any good one there are 50 bad ones, MAG was one of my best but I sold far too early, I did very well with PAAS, thankfully I sold out before the last crash. I still hold Endeavor which I bought at the same time around 2003 (I think) If you buy anything, get an early stage producer or an established one, explorers are almost always a disaster.


I'm heavily long Silver and Gold (the metals), I also have some Palladium and Platinum. Most of it is held as paper, not much in ETFs.
I do still have some stocks however I doubt that they will fare well in a crash situation, the way I see it, all stocks get hammered when we crash, even silver and Gold miners. I will only believe in 'de-coupling' when I see it.

That said I presently hold AIGA,AMBR, RRR,TIR, SVE(AIM), Endeavour Silver (TSE),EDV Capital(TSE)Horizon Oil (ASE) KYS,RR,CWR (LSE) Aberdeen Int (ABB), OYM (TSE)
Gold + Silver via CEF, PHGB and the Perth Mint, plus at least a dozen burned out technology stocks from a different era that do not warrant even naming.

I wouldn't recommend any of these (other then the metals) as it is highly likely they will get slaughtered as badly as anything else if we crash, I hold because, I'm even. I'm in either too much loss to make it worthwhile to sell, or I have taken good profits out of them in the past and they are in for free.

This year I have sold out of NGAS,YAU,AEP,MAN,TEM,TEP,ANR,LAM,APF,FENR,AMB,PFC,ECA TO and a few others. I'd probably buy most of them back if they fell heavily enough.

May was a bad month, if it stabilities over the summer then September ought to be as bad, I'd be inclined to buy into stocks after that, in fact I can't really imagine buying stocks again till I see the next 50%+ price reductions from the tops.

I really don't like them at all atm, we had a good rally and I think it is perfectly feasible that this could turn into a double dip and we could face a retest of the 2008-9 lows.

It seems that there are less places to hide nowadays, our currency is in big trouble and could fall over the cliff after they've finished with the Euro.

Most stocks (including commodity, energy related) have the potential to revisit their lows of 2008-09. Property is still far too high. Bonds? Maybe, but I know nothing about them, same with art and antiques.
That leaves me Precious Metals ,foreign currencies farming land, food and energy. Those are the only sectors presently worthy of investment(imo) If I could I'd buy and store commodities like nat gas, diesel oil and food, sadly it is not practical doing this in a big scale at home. I'm disappointed with the ETFs that offer exposure to these commodities as the time decay eats up the profits due to the fact that these are long term primary trends.

Precious metals look high and toppy, I can't ever remember it being so hard to find somewhere to invest, yet holding cash is no real alternative. A rock and a hard place come to mind...

[abc125] 06/6/2010 11:28

Confirms something i was already thinking:

[spec124] 04/6/2010 21:49

For those flocking to the "Safe Haven of the US$", this will be a sobering clip to watch.

The Fed Inspectors are put on the spot over the wherabouts of Trillions of dollars and they are completely clueless.

Simply unbelievable...

[spec124] 04/6/2010 21:46

Jim Sinclair opinion

"If you do not see the hand of intervention in the gold market early this morning you are either wearing welders gear or are simply inept in this field.

Like the euro intervention being useless in the grand scheme of things, so is the gold intervention this morning.

Above $1224 the manipulators will lose their influence in the price of gold. We sure witnessed that last US night in the euro.

The real numbers now that you will not hear on F-TV are $1.19 and then $1.10, below which the euro will collapse."

[abc125] 04/6/2010 20:09

Hi Traderabc

How are you positioned for the coming collapse? I don't want to own physical gold and silver (i am worried about storage).I'm looking at precious metals miners, particularly silver miners, because i believe silver will gain more in percentage terms than gold because it is relatiely under priced.

I can only find HOC and AGQ on the LSE. Do you know of any other silver miners, maybe on other exchanges?

edit: come across several on the TSX. Will investigate.

[traderabc] 04/6/2010 14:17

As always this thread is about questioning the 'consensus' as the truth in not always found there, hence this video is a must watch, as it goes a long way in explaining how and why the 'fat cats' have brought entire nations to the financial brink.

Dan Pink - The science of motivation 1/2





More

Dan Pink - Drive




Daniel Pink: What Really Motivates Workers

[traderabc] 03/6/2010 20:51

[KR48] Flotilla Hashtag, Free Towels & Mini Max!
June 3rd, 2010 by stacyherbert
Respond

Stacy Summary: We look at the scandals of "hashtag" propaganda; the revolution of free towels from the Best Party; and trillion dollar wars and security tabs beyond rational explanation. In the second half of the show, Max interviews Edward Harrison of CreditWritedowns.com about China-US as the most worrisome global hotspot, social outrage and rising up in Europe and around the world, and whether or not there is a gold bubble.




lol!

"We Are The Best" Video From Best Party in Reyjkavik
May 31st, 2010 by stacyherbert

Stacy Summary: Video from the Best Party that won local elections in Reyjkavik yesterday.