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JOHN MAULDIN: 40% CORRECTION COMING
http://pragcap.com/john-mauldin-40-correction-coming
SOROS: WE ARE REPEATING THE MISTAKES OF OUR PAST
http://pragcap.com/soros-we-are-repeating-the-mistakes-of-our-past
Faber: I Will Never Sell My Gold As Long As I See Clowns Like Bernanke, Summers, And Geithner In Charge
http://www.businessinsider.com/faber-i-will-never-sell-my-gold-as-long-as-i-see-clowns-like-bernanke-summers-and-geithner-in-charge-2010-4
Morgan Stanley: A Eurozone Collapse Is Now Far More Likely, Here Are The Canaries To Watch Out For
http://www.businessinsider.com/morgan-stanley-bailing-out-greece-massively-increased-the-chance-of-a-eurozone-collapse-here-are-canaries-to-watch-out-for-2010-4
Art Cashin of UBS reports that there are 'all manner of conspiracy theories floating around Wall Street' that the Federal Reserve is 'putting on a false moustache and raincoat' turning up at 30 year Treasuries auctions as a buyer. Also that European Banks are propping up the Euro late in the day when the markets are illiquid.....
http://www.kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/4/14_King_World_News__Conspiracies_Go_Mainstream.html
Dow Closes Above 11,000; This Rally Has Ignored Fundamentals, and Will Be Corrected Painfully, Hussman Says
The market rebound we've experienced is near an end, and we should have seen it coming, according to John Hussman of Hussman Funds.
Here's a breakdown of why Hussman thinks that, even if you ignore questions about the banking system, this market is clearly in line for a correction.
* Investors have gone through two massive loss periods in the past 12 years, and only gained 2.4% if they tracked the S&P.
* Returns are going to be low over the next several years, and while there might have been a price low in March 2009, the valuation low has yet to be found. It may take another 6-8 years.
* This low return on the S&P is not the result of other potential crises looming in the system, including credit problems, but simple fundamentals.
* People are now buying into the market, relying on economic growth and the absence of another credit crisis, rather than on fundamentals.
As such, says Hussman:
This outcome is not dependent on whether or not we observe a second set of credit strains, but is instead baked into the cake as a predictable result of prevailing valuations. The risk of further credit strains simply adds an additional layer of concern here. Investors have chased risky securities over the past year to the point where the risk premium for default risk has eroded to the levels we saw at the peak of the credit bubble in 2007. My sense is that this is a mistake that will be painfully corrected. Investors now rely on a sustained economic recovery and the absence of any additional credit strains - and even then would be likely to achieve only tepid long-term returns from these levels.
Video: Apocalypse-Fearing Folk Can Seek Shelter in Futuristic $10 Million Doomsday Bunker
http://www.popsci.com/technology/article/2010-04/apocalypse-fearing-folk-can-seek-shelter-10-million-doomsday-bunker
Which is next ? An engineered pandemic or debt implosion ?
http://theflucase.com/index.php?option=com_content&view=article&id=3234:which-is-next-an-engineered-pandemic-or-debt-implosion&catid=41:highlighted-news&Itemid=105&lang=en
12 avril 2010 à 07h02
Les investisseurs jouent à se faire peur
Même pendant les vacances de Pâques, les investisseurs jouent à se faire peur. Et toujours pour la même raison. La situation grecque ne s'améliore pas ! Pire, elle se dégrade de jour en jour. En réalité, les marchés financiers testent les limites de la Grèce, quitte même à précipiter ce pays vers la faillite, ce qui est un jeu extrêmement dangereux.
Et la preuve que ce scénario ne relève pas de la science fiction, c’est que la Grèce doit aujourd’hui donner quasi 4 % d’intérêt en plus que les Allemands pour placer sa dette auprès des marchés financiers !
Il y a un mois encore, cet écart n’était que de 3% si je puis dire ! Et donc, en quelques semaines, la situation s’est encore détériorée ! Je rappelle qu’il y a dix ans, la Grèce pouvait emprunter quasi au même taux que l’Allemagne. Ce n’est plus le cas aujourd’hui ! En clair, la hausse des taux d’intérêt payés par le gouvernement grec réduit à ZERO tous ses efforts budgétaires, on entre dans une situation de « cavalerie », comme ces personnes endettées qui empruntent uniquement pour payer les intérêts du précédent emprunt ! C’est le début du cercle vicieux !
Et le drame de la Grèce, c’est qu’elle n’est pas seulement victime de l’acharnement des marchés financiers, elle a aussi perdu la confiance de ses citoyens. Le journal anglais, Financial Times, a révélé qu'au cours des deux premiers mois de l'année, les épargnants grecs ont retiré 10 milliards d'euros de leurs comptes pour les mettre à l'abri sur des comptes à l’étranger.
En fait, les épargnants grecs redoutent une intervention du FMI. Pourquoi ? Parce que les Grecs savent que le FMI est un bailleur de fonds très sévère. Son aide financière sera assortie de toute une série de restrictions budgétaires que la Grèce devra IMPERATIVEMENT mettre en place. Autrement dit, la saignée sera forte. Et donc, en bonne logique, les épargnants grecs ont peur que leur gouvernement soit obligé de ponctionner leur épargne et donc, en bons écureuils, ils mettent à l’abri leurs réserves.
Ce mouvement de panique des Grecs n'a évidemment rien fait pour arranger la situation des banques grecques. Pas plus d’ailleurs que celles des banques étrangères qui ont prêté de l’argent à la Grèce. Les banques françaises sont les plus touchées en Europe, mais les banques belges sont également affectées. Les derniers chiffres parlent d’une exposition de l’ordre de 7,5 milliards d’euros. C’est aussi l’une des raisons pour lesquelles les banques européennes ont généralement été secouées en Bourse ces dernières semaines – et voilà pourquoi, tout le monde espère que ce feuilleton grec, presque aussi long qu’un feuilleton mexicain, se termine vite. Très vite.
http://trends.rnews.be/fr/economie/opinion/chronique-economique/les-investisseurs-jouent-a-se-faire-peur/opinie-1194713792136.htm
Gold ETF Inventory Hits Record High
http://seekingalpha.com/article/198091-gold-etf-inventory-hits-record-high
Van Rompuy: "Prendre des mesures impopulaires"
La survie du modèle économique et social européen passera par des "mesures impopulaires"
http://www.7sur7.be/7s7/fr/1505/Monde/article/detail/1090762/2010/04/09/Van-Rompuy-Prendre-des-mesures-impopulaires.dhtml
Major U.S. banks temporarily lowered their debt levels just before reporting in the past five quarters, making it appear their balance sheets were less risky, the Wall Street Journal said, citing data from the Federal Reserve Bank of New York.
http://www.cnbc.com/id/36305791
Using Gold as a Hedge to the Greek Crisis
A resolution to the Greek debt crisis is still nowhere in sight, and investor patience is wearing thin. Reports out yesterday indicated that the Greek government had wanted changes made to the terms of a rescue plan proposed by European leaders and the International Monetary Fund on March 25. According to various news accounts, Greek officials were looking for ways to limit the role of the IMF in the rescue deal, fearing that the conditions imposed by the organization would be too harsh. The Greek government denied these claims, but investors responded swiftly, driving up yields on ten-year bonds to above 7 percent.
The future looks bleak for the Greek government’s fiscal health. This year alone it will need to raise $40 billion -- $15.5 billion of which it will need to come up with by May. Total debt now stands at 113 percent of the country’s GDP, which is well above the euro zone's limit of 60 percent, while the budget deficit has ballooned to 12.7 percent of GDP.
And though the severity of this crisis has been known for months, Europe has yet to come up with a plan that inspires the confidence of investors. The EU nations had said they were prepared to offer Greece a lifeline in the case of an emergency, but how and when that bailout would occur was unclear. Last month, the EU and IMF announced that they had come up with a joint plan to rescue Greece, but again many of the details weren’t disclosed, such as the precise nature of the IMF’s role in the bailout.
Greek officials, meanwhile, have been trying to stir up interest for its debt in other parts of the world, with little success. According to reports, the appetite among Asian investors for a new $10-billion offering has been minimal. Officials are also targeting U.S. investors and will embark on a roadshow in the coming weeks. The problem though is that many new investors in Greek debt have suffered losses in recent months and are reluctant to take on greater exposure to the crisis.
Not surprisingly, the euro has steadily declined in recent weeks and months, as questions linger over the condition of other countries in the euro zone, like Spain, Portugal and Ireland. The long-term fiscal health of the United States is also worrisome, and increasingly investors are turning to gold as an alternative to the euro and dollar.
We have been encouraging investors for some time now to expand their position in the yellow metal. In particular, we’ve recommended Newcrest Mining, which is part of our Growth Portfolio, and Lihir Gold (LIHR), which is part of our online-only Fast Track Portfolio.
The two companies have been in discussions recently over the $8.4-billion takeover offer by Newcrest for Lihir. Lihir rejected Newcrest’s most recent offer, made on March 29. Both companies have acknowledged that combining the firms makes strategic sense – Newcrest has argued that the combined company would generate A$85 million a year in synergies – but as of yet, the two companies do not see eye to eye on shareholder compensation. Discussions have been on-going since at least February 15, when Newcrest made its first offer, and the Australian-based gold miner has said it will continue to discuss the acquisition with Lihir. If a deal were to be completed, it would be the latest in a string of mining company mergers in Australia.
Shares of both companies have done well as of late, with Lihir’s climbing almost 30 percent upon rejecting the takeover offer. Their performance reinforces our belief that investors are seeking out opportunities in gold, and both stocks, we believe, are worth owning for the foreseeable future.
http://seekingalpha.com/article/197723-using-gold-as-a-hedge-to-the-greek-crisis
LA NAISSANCE D'ATHENA EST IMMINENTE..
du 8 au 11 avril 2010 : Ca y est: le bon du trésor grec sur 10 ans est à 7,322%. Du suicide pur et dur et les carottes, pardon, les oliviers sont cuits. La Grèce ne pourra plus emprunter et le mois de mai 2010 se présente très mal. Regardez l'évolution, merci à Mr Arfeuille:
Lundi 29 mars : 6,289 %.
Mardi 30 mars : 6,434 %.
Mercr 31 mars : 6,522 %.
Jeudi 1 avril : 6,529 %.
Mardi 6 avril : 6,976 %.
Mercr 7 avril : 7,161 %.
jeudi 8 avril : 7,322 %.
Donner du 7,3% chaque année pendant 10 ans, c'est vendre la tête de tous les habitants à Wall Street. Donc voici la situation: imaginez l'Europe des 16 pays euro comme un convoi de 16 camions sur une autoroute. L'un des camions n'a plus d'essence. Le convoi s'arrête et on va siphoner de l'essence du camion allemand et français pour en mettre dans le camion grec. Le système ne peut plus avancer de la même façon, du moins, la distance parcourue ne sera plus la même. Et ces camions n'ont pas le droit à la planche à billets qui leur permettrait d'acheter autant d'essence qu'ils le veulent... Les camions anglo-saxons, eux, peuvent continuer à rouler sans problèmes... Et c'est eux qu'on va appeler à l'aide, via la borne de secours FMI.
Mais voici le signe fatal des premières contractions: comme avec Lehman Brothers, la Grece s'est vue refuser les prêts à 24h ou 48h, ce que les traders appellent les repos. Et c'est la banque allemande Commerzbank qui a tiré le tapis la première sous le pied des Grecs... Hou les méchants...
Cette nuit, c'est la Citi qui a lancé la vente de ses obligations grecques, voyez ici Banking News. C'est la 2e banque, et cela veut dire que d'ici la fin du mois, eh bien, kof kof, je ne voudrais pas être en Grèce sauf comme touriste. Des milliards quittent le pays chaque jour, et les agences bancaires étrangères à Athènes ne savent plus où donner de la tête. La Grèce va être le Lehman Brothers de la 2e crise fiancière. Regarde ce qu'écrit Zero Hedge: "Commerzbank which is one of the biggest repo counterparties to Greek institutions, was dumping bonds in yesterday's sell off. Not only that, but it is now pulling repos, in essence starting a cascade of asset liquidation, in which banks, already experiencing a depositor run, will be forced to sell assets at any prices they can get just to fund their operations for one extra day".
Pour revenir à Athènes, la situation tend vers la crise de liquidités, voyez cet article du Telegraph: "Greek banks are being hit by a wave of redemptions as the country's most wealthy citizens and corporations look to move their money offshore or to international financial institutions perceived as safer homes for their assets". Aristote Onassis doit se retourner dans sa tombe. Les millionnaires grecs vident leurs comptes pour les transvaser dans des banques allemandes, suisses, françaises, chypriotes, chinoises (HSBC) et même bosniaques, pays voisin. Même l'Albanie semble être un havre de paix. "More than 3bn euros of deposits held by Greek households and companies left the country in February, while in January about 5bn euros of deposits were moved out, according to the latest figures available from the Bank of Greece". Au bout: l'absence de billets dans les distributeurs et les banques... La crise Argentine donc, puissance 10.
Mais les Grecs haussent la voix avec un verre d'ouzo: Theodoros Pangalos, un politique grec, est rentré dans les plumes des Allemands via le Jornal de Negocios en disant qu'ils ne voulaient pas aider la Grèce parce qu'ils étaient racistes et parce qu'ils voient les Grecs comme des fêtards: "Mr Pangalos said Germany had taken a 'moral, racial' approach to the crisis, adding sarcastically: 'The Greeks have problems. Why do they have problems? Because they don't work enough. 'And why is that? Because they have a good climate, music and drink and they are not as serious as the Germans.". Pour en savoir plus, lire le Daily Mail. Tant qu'il y a de l'ouzo, il y a de l'espoir... Revue de Presse par Pierre Jovanovic © www.jovanovic.com 2008-2010
Hong Kong pulls all gold reserves from depositories in London
By Chris Oliver
April 7, 2010
In a challenge to London, Asian states invited to store bullion closer to home
HONG KONG (MarketWatch) -- Hong Kong is pulling all its physical gold holdings from depositories in London, transferring them to a high-security depository newly built at the city's airport, in a move that won praise from local traders Thursday.
The facility, industry professionals said, would support Hong Kong's emergence as a Swiss-style trading hub for bullion and would lessen London's status as a key settlement-and-storage center.
"Having a central government-sponsored vault would create a situation where you could conceivably look at Hong Kong as being a hub, where metal could be traded for the region," said Sunil Kashyap, managing director at Scotia Capital in Hong Kong, adding that the facility was the first with official government backing in the region.
The Hong Kong Monetary Authority, which functions as the territory's unofficial central bank, will transfer its gold reserves stored in other vaults to the depository later this year, the Hong Kong government said in an earlier statement.
The monetary authority reported $63 million in physical gold reserves as of July 31, according to its International Reserves and Foreign Currency Liquidity statement. The authority wouldn't disclose where the reserves are held, but local media reports cited gold traders as saying that London's the most likely location.
Traders said the new depository facility could also foster new financial products, such as exchange-traded funds based on precious metals.
The 3,660-square-foot depository, located at the city's main Chek Lap Kok Airport, will serve as a "storage facility for local and overseas government institutions," according to the government statement.
Martin Hennecke, a financial advisor with the Hong Kong-based Tyche Group Ltd., said that could be appealing to regional central banks unnerved after watching the global financial system teeter on verge of implosion last year.
"Central banks are increasingly aware of the importance of having gold reserves at time of financial crisis and having it easily available at their own disposal," he said.
Meanwhile, local newspaper reports said the Hong Kong Mercantile Exchange had signed an agreement to use the depository for its physical settlement and storage needs.
Marketing efforts will be launched to convince Asian central banks to transfer their gold reserves to the Hong Kong facility, according to reports citing Raymond Lai, finance director with the Hong Kong Airport Authority.
Efforts will also be made to reach out to commodity exchanges, banks, precious-metals refiners and ETF providers, the reports said.
Management firm Value Partners planned to launch an ETF gold fund that will use Hong Kong instead of London as a repository for the gold backing the fund, local reports said Thursday.
((Reporting By Chris Oliver - Chris Oliver is MarketWatch's Asia bureau chief, based in Hong Kong.))
http://www.investorvillage.com/smbd.asp?mb=2234&mn=270725&pt=msg&mid=8827988
Les banques américaines maquilleraient leurs comptes
http://www.lemonde.fr/ameriques/article/2010/04/09/les-banques-americaines-truqueraient-leurs-comptes_1330960_3222.html#xtor=AL-32280184
am still waiting ...
j'attends toujours ..
à plus
D'
Thank you for helping Picassa with his board.
Your post are always interesting.
Who I'm ?
I'm his second wife, he will invite you for dinner in the future.
Keep your good works pls, I can't do it alone here....
how do u know him ??
are u his sister ?
:o)
150$ - u kidding here ???? that will be hard for us and our cars !
OMG
Rick Santelli: Oil To $150 By Summer
http://www.businessinsider.com/henry-blodget-rick-santelli-oil-to-150-by-summer-2010-4
Manipulating Gold and Silver: A Criminal Naked Short Position that Could Wreck the Economy
By Mark Mitchell
Posted on 02 April 2010
Everyone from U.S. Senators to prominent hedge fund managers say that criminal naked short sellers had a hand in the financial collapse of 2008, but the regulators aren’t listening. Not a single criminal has been prosecuted. Indeed, the regulators continue to allow the miscreants to manipulate the markets — not just the stock markets, but also the markets for corporate bonds, derivatives, U.S. Treasuries, and all manner of commodities – even when the regulators are provided with indisputable evidence of a massive crime in progress. They could easily fix the flaws in the settlement system that allow much of the manipulation to occur, but they refrain from doing so either because they are too captured by the miscreants or too cowed by the possible consequences of throwing the lights on what may be an enormous confidence game.
So I am inclined to say that it is hopeless. Everyone loves an optimist – but, yes, it is hopeless. We are like the audience in one of those cheesy horror flicks – yell and scream all you like, but the dumb blonde is still going to walk into that room and get hacked to pieces. Except that it is not a movie. It is real. And it’s not just the dumb blonde who is going to get slaughtered. It is all of us. It is our economy. It is our standard of living. It is our financial system – the lifeblood of the nation.
The latest case of regulatory indolence was recently exposed by Andrew Maguire, a successful metals trader and whistleblower who went to the Commodity Futures Trading Commission with data that strongly suggested that a small number of criminal short sellers had rigged the markets for silver and gold. Maguire not only provided the regulators with a Dummies’ guide to how the manipulation generally worked, but also warned them of a specific crime – a dramatic take-down of the gold and silver markets – that he said would occur at an exact time on a specific date in the near future. That is, Maguire told the regulators that a massive crime was about to happen, and the crime happened precisely as he predicted it would.
With Maguire’s warning, the regulators were able to watch a crime unfold, right before their eyes, in real time. Then the regulators thanked Maguire by saying, in essence, “you’re a nuisance, go away.” This is not just appalling, but scary, because the criminal activity that Maguire exposed is much bigger than the Madoff Ponzi scheme, and more likely to result in serious damage to the American economy. Indeed, there is a strong case to be made that our national security is at stake. As Maguire stated in a recent interview with King World radio ( http://tiny.cc/yehl6 ), the manipulators have likely created a massive naked short position that can easily be exploited by foreign entities who might see financial or even political gain in eviscerating the dollar.
Maguire’s email exchange ( http://tiny.cc/s643j ) with the CFTC is remarkable reading. In one email he writes:
“Thought it may be helpful to your investigation if I gave you the heads up for a manipulative event scheduled for Friday, 5th Feb. The non-farm payrolls number will be announced at 8:30 ET. There will be one of two scenarios occurring, and both will result in silver (and gold) being taken down with a wave of short selling designed to take out obvious support levels and trip stops below. While I will no doubt be able to profit from this upcoming trade, it is an example of just how easy it is to manipulate a market if a concentrated position is allowed by a very small group of traders…I sent you a slide of a couple of past examples of just how this will play out.
“Scenario 1. The news is bad (employment is worse). This will have a bullish effect on gold and silver as the U.S. dollar weakens and the precious metals draw bids, spiking them higher. This will be sold into within a very short time (1-5 mins) with thousands of new short contracts being added, overcoming any new bids and spiking the precious metals down hard, targeting key technical support levels.
“Scenario 2. The news is good (employment is better than expected). This will result in a massive short position being instigated almost immediately with no move up. This will not initially be liquidation of long positions but will result in stops being triggered, again targeting key support levels.
“Both scenarios will spell an attempt by the two main short holders to illegally drive the market down and reap very large profits.”
It would be hard to get more specific than that. As Maguire says in the same email: “The question I would expect you might ask is: Who is behind the sudden selling and is it the entity/entities holding a concentrated position? How is it possible for me to know what will occur days before it will happen? Only if a market is manipulated could this possibly occur.”
The CFTC had previously had the courtesy to call Maguire and listen to his concerns, but by the time Maguire sent the message laying out the crime, the CFTC had stopped returning his emails. The regulator showed no real interest, and let the crime happen. After the crime occurred, Maguire wrote another email:
“A final email to confirm that the silver manipulation was a great success and played out EXACTLY to plan as predicted. How would this be possible if the silver market was not in the full control of the parties we discussed in our phone interview?…I hope you took note of how and who added the short sales (I certainly have a copy)…Surely some discussions should have taken place between the parties by now. Obviously they feel they can act with impunity…”
After that, Maguire sent several more emails detailing manipulation of the gold and silver markets. He received no replies. So he wrote a final email, providing still more evidence in support of his case and stating: “I have honored my commitment to assist you and keep any information we discuss private, however if you are going to ignore my information I will deem that commitment to have expired.”
To that email, a CFTC official finally replied: “I have received and reviewed your email communications. Thank you so very much for your observations.” That was it. Thanks a lot and goodbye. No follow up questions. No acknowledgement that a crime had occurred. No apparent interest whatsoever.
Maguire was understandably peeved. As he said in his radio interview, “I kept a live commentary going on that entire scenario. How they were going to flush it down below 15, how it then went down below 15, and how then they were putting big block offers hitting all the bids to stop it getting back through the technical level of 15 so as not to trigger covering by the shorts and inviting longs to get long again. To me, you don’t get any better than that, how could anyone predict that unless they knew what was going to happen, not just saying it’s going to move in one direction, but it’s going to move in one direction then another direction – all in a matter of minutes.”
Not long after the massive crime took place, the CFTC held a public hearing on manipulation of the metals markets. Maguire was specifically barred from participating. He told King World radio that he believed one CFTC official, Bart Chilton, wanted him to attend the hearing, but Chilton is a lone “Elliot Ness” crime fighter working in an agency that is dominated by the feckless and the corrupt. “There are a lot of people at CFTC wanting to look the other way,” Maguire said.
However, the hearing (a partial transcript and video ( http://tiny.cc/xb0n1 ) of which can be found at the excellent financial blog Zero Hedge) did yield an interesting piece of information. In the course of answering an unrelated question, Jeffrey Christian, a former Goldman Sachs staffer who is now the head of a metals trading firm called CPM Group, stated that “precious metals…trade in the multiples of a hundred times the underlying physical…” (the italics belong to me and a lot of other people whose eyes popped out of their heads when they heard this).
What Christian was saying is that every ounce of gold or silver is being sold 100 times. This would not be problematic if we were speaking of some dusty market in Central Asia with rows of traders’ stalls wherein some commodity (such as gold, silver, radios or Kalashnikovs) were being sold and resold in rapid-fire succession: there, our sensibilities about scarcity, value, and price discovery would actually grip reality. Here, however, we are talking of markets where the distinction between reality and representation has become as blurry as the last round of a game of musical chairs, enabling some sellers to offload paper IOUs promising eventual delivery of silver and gold – promises that would be impossible to keep if some small segment of the buyers were to demand delivery of the real thing.
This is quite similar to the naked short selling of stocks, where traders sell stock that does not exist, but enter IOUs in their computers, and then “fail to deliver” what they have promised. It is hard to distinguish this from fraud (notwithstanding the Efficient Market Hypothesis of financial theory, which maintains, essentially, that it shouldn’t matter). Christian, the fellow who inadvertently revealed the massive naked short positions in gold and silver, said that he didn’t see this as a problem because “there are any number of mechanisms for cash settlement,” and “almost all of these short positions are in fact hedges…”
This is slightly absurd. Later in his testimony, Christian himself said that it was “exactly right” to say that the hedges are nothing more than hedges of “paper on paper” – a particular sort of merry-go-around where one IOU is settled by another IOU, with these IOUs outnumbering real gold and silver by multiples of a hundred times.
As for the notion that cash settlement solves the problem, Maguire noted in his radio interview that cash settlement “is the very definition of default. If somebody wants to buy gold and silver and instead they’re given cash, that is a default.” In addition, “there are people who will not want cash – Chinese, Vietnamese, Russians – people looking for the metal, they will want to take it, and that will cause a default on the Comex [the metals exchange] because the Comex will be drained…that was the word that was used by several people making testimony [at the CFTC meeting], that the Comex would be drained…”
Maguire added: “What’s going to happen, if you’re an Asian trader, or a non-Western trader, who has no loyalty, or doesn’t care about homeland security or anything else, who says, now wait a minute, if I can establish in my mind that there is 100 ounces of paper gold, paper silver for example, for each ounce of real silver, than I have a naked short situation here that I can squeeze and they can go on the spot market which is basically a foreign exchange transaction, short dollar, long silver to any amount they want – billions, trillions — whatever they want, and they can take this market, squeeze this market, and blow it up…”
In other words, the problem isn’t just that criminal naked short sellers manipulate the metals market downwards. It is that they have created a condition where a foreign entity can merely demand delivery of real metal to induce a massive “squeeze” that sends the price of metals skyrocketing, putting huge downward pressure on the dollar. Meanwhile, says Maguire, with prices rising, “for 100 customers who show up there is only one guy who is going to get his gold or silver and there’s 99 who will be disappointed, so without any new money coming into the market, just asking for that gold and silver will create a default.”
“There are no prisoners taken in this kind of environment,” Maguire added. “All they need to establish is that it is naked, and by the admission of [former Goldman staffer] Christian at the meeting…we have a definition of physical actually being paper…They get that in their heads and its locked, it’s a done deal, then we don’t have to wait…there is a profit to be made here, and there is nothing [anybody] can do about it because it’s a foreign exchange transaction, and there are no limits on a foreign exchange transaction, and obviously foreign exchange transactions are coming to light, there [is talk] of manipulation…”
Indeed, Maguire says that he has received phone calls from wealthy individuals in Asia looking for the go ahead to exploit the naked short position. “The only question they have in their mind is can we establish that this is a naked short position, that’s the only thing they had to clarify, it’s become clear, it is now clear [that the naked short position is massive], and no doubt they do their own due diligence, but basically [the naked short position] has been admitted at the only metals meeting [the CFTC hearing] that we’ve ever had…”
Maguire says that the naked short selling scam is in the trillions of dollars, making it by far the biggest financial fraud in history. He calls it “financial terrorism” and accuses the naked short sellers of “treason” for putting national security at risk. It might be hard to believe that foreign entities are plotting to crush the U.S. economy, and perhaps they are not, but there is no doubt that loopholes in the clearing and settlement system – not just for metals, but also stocks, bonds, Treasuries, and derivatives – could quite easily be exploited by any foreign entity desiring to do harm to the U.S. economy. The only dispute is whether such a desire exists.
Maguire and Adrian Douglas of GATA, an organization that lobbies against manipulation of the metals market, took their concerns to the mainstream media and had a number interviews scheduled. However, every one of those interviews were suddenly cancelled. This is not surprising. The mainstream media has consistently shied away from stories about illegal naked short selling and market manipulation, partly because the media outlets are captured by the powers that be on Wall Street, and partly because investigative journalism is now viewed as an anachronism – a time-consuming effort that might have been suited to Woodward and Bernstein back in the 70s, but not to the downsized news rooms tasked with churning out tepid and meaningless “he said, she said” mimeographs for a population of readers who (so it is said) want their “news” fast, and don’t care a whit for in-depth reporting.
Meanwhile, just as the stock manipulators have engaged in a coordinated effort – deploying threats ( http://tiny.cc/0bkib ), ruthless smear campaigns, and slick lobbying – to keep their crimes out of the spotlight, so too will the gold and silver manipulators. Adrian Douglas of GATA notes that at the precise moment that his GATA colleague Bill Murphy began to speak at the CFTC meeting, the video camera recording the event experienced “technical problems” – problems that were fixed at the precise moment when Murphy stopped talking. Douglas concedes that this might have been a coincidence, but when this sort of thing happens often enough, a little healthy paranoia is probably a good thing. That said, everyone loves an optimist, so I’ll say the camera really went kaput.
But…ack…another coincidence: The day after Maguire gave his radio interview, he was the victim of a hit and run collision. Somebody sped out of a side alley at top speed, smashed into Maguire’s car, and then tried to escape. A high-speed chase ensued, and the perpetrator was caught by police. The British press has reported that this might have been an assassination attempt, or a threat, but as yet there has been no word from the police. Maguire was injured, but not seriously. Let’s be optimistic, and say this was an accident – assassinations and threats only happen in the movies.
But…ack…another coincidence: Shortly before somebody crashed into Maguire’s car, the CFTC caught on fire. This fire happened to be located in the one small basement room where gold and silver trading data and other pertinent documents were kept. The CFTC claims that its investigation of metals manipulation, for what it was, did not burn. So maybe it was just an accident. Maybe some eager CFTC regulators were down there smoking cigarettes. Maybe it was stress. Maybe they’ll keep investigating. Maybe they’ll bust the criminals.
Maybe, just maybe…yes, everyone loves an optimist, so let me make this clear – the horror show that is our regulatory system is going to have a happy ending. There will be no massacre. The financial system will be just fine…really…maybe… or maybe not.
* * * * * * * *
Update: Another coincidence: GATA reported recently that there has been an attack on the King World website — the website that contains the radio interview of Maguire and his emails to the CFTC. This was an apparent attempt to shut down the website and prevent the scandal from being exposed further. The Internet company that hosts the King World website reported to King World the following: Your hosting account is the target of a distributed denial of service attack…Computers were attacking your account.”
Steps were taken to protect the website, which is once again up and running.
http://www.deepcapture.com/manipulating-gold-and-silver-a-criminal-naked-short-position-that-could-wreck-the-economy/
OMG !
poor Mike'
& what ???
he's in jail ?
would u please give me his phone number plz,
here my adress - punkdata@live.be
thanks
D'
Too many people have close their bank account to invest in gold coins.
He was publishing audio about buying gold and run away from the banks and "paper money".
Some people have complain to the police and he was under arrest for 9 hours.
He will be back in June, If everything go well.
Take care.
SAMIA
what did he do ? !
do u really think what u post is heard Best ???
if you want to help people in the non-knowledge ..
this is not here that u'll be heard -
why why why ????
what are u doin' ????????
go in the street to spread the word...
what the hell did he do ???
PICASSSSAAAAAAAAA
come on !!!
CALL ME IDIOT lol
Madoff Greenspan, showning no remorse, who destroyed millions of Americans -- WHAT IN THE HECK DOES HE HAVE TO SAY ANYTHING -- crazy greed. Who in the insane mind allow such lunatic manipulation still spewing greed nonsense.
MADOFF GREENSPAN & BERNANKE PUT MILLIONS OF AMERICANS IN LIVING HELL AFTER THE INSANE MARKET MANIPULATION!!
http://www.cnbc.com/id/36170624
Alan Greenspan, the former chairman of the Federal Reserve and a self-described Republican libertarian, on Sunday reinforced increasingly confident assessments by the Obama administration that the nation’s latest job numbers reveal a resurgent economy.
Western Civilization and the Economic Crisis, The Impoverishment of the Middle Class
http://www.marketoracle.co.uk/Article18282.html
Peter Schiff mp3
Saturday, April 3, 2010
Peter Schiff is one of the most visible figures in the financial media today. His predictions have been extraordinarily accurate and this has gained him much attention from the media and his peers....
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/4/3_Peter_Schiff_files/Peter%20Schiff%204%3A3%3A2010.mp3
While the FED Bernanke-cronies getting away with multi-trillions, "we have 20%+ real unemployment, federal and state revenues are in decline as their liabilities increase as national debt is sky-rocketing, wave #2 of the commercial real estate foreclosure of another 1.5 trillion dollar debacle is coming.
CRE will be 50% underwater by this summer putting 2,988 our of 8,000 regional banks at serious risk and we have an FDIC that can’t afford to shut down the 800 banks on the troubled bank list."
Fed Bernanke fraud is continuing to hyping financial markets while bankrupting our nation and putting millions of Americans into bankruptcies.
http://trend-signals.blogspot.com/2010/04/china-following-usa-being-bankrupted.html
FED Bernanke crimes of deception and corruption will not stop and China will go national bankrupted.
The criminals have bankrupted millions of Americans and the United States by robbing multi-trillions.
http://trend-signals.blogspot.com/2010/04/china-following-usa-being-bankrupted.html
China following USA being bankrupted country along with European nations
As noted several months ago, it is just a matter of time that China will be following the western bankrupted, corrupted, and unethical money manipulation as we can see that most of major western countries are now bankrupted as a result of decades of money manipulation. e.g. Greenspan-Bernanke massive corruption of money manipulation.
What I heard is that China is not allowing Google so massive middle class has no access to real information about the market corruption and deception. So they are like sitting ducks to be robbed by brainwash and, in the end, they will all be bankrupted losing their life savings and houses.
China will now have future trading, so, it is just speeding up to middle class destruction losing their wealth to money manipulators as we have seen it through western countries.
That will be another Tragedy in massive scale which massive people will go through living hell after losing their life savings and houses as we know China, only China, now has middle class with high saving than other countries around the globe.
It is obvious the reason for stopping google access is to stop informing Chinese about the corrupt western financial markets.
Western financial markets are all corrupt and manipulated. It's evil and satanic. Mainly people are manipulated with lies and deception fooling each other. It is tragedy that millions of people have fallen into corrupted scams, and now Chinese are being sucked into it.
WHAT A TRAGEDY IT WILL BE!!!
* Hu's US Visit May Signal Easing by China on Currency
* The announcement by Beijing that President Hu Jintao will be visiting Washington in two weeks is being seen as the beginning of a possible easing of the friction over the renminbi.
Here It Is, The China Gold Rush Story Bulls Are Throwing Around
http://www.businessinsider.com/here-it-is-the-china-gold-rush-story-bulls-are-throwing-around-2010-3
NIGHTMARE CONTINUES ~~>> Asia Trades Mixed; Eyes on Rio Trial
This is a hell of markets relentless robbery of market manipulation.
10850.36 10840.0 42.00 10790.36 10840.0 49.64
Last Updated: 02:39:22 AM
S&P 500
1month
1166.59 1169.2001 5.7001
~~~~~~~~~~~
| 28 Mar 2010 | 10:48 PM ET
Asian stocks were mixed on Monday ahead of the shortened holiday week and after U.S. indices gave up earlier gains to close flat on Friday.
Japan's Nikkei stock average dropped 0.6 percent on Monday as investors moved to lock in profits after the benchmark finished at an 18-month high on Friday, but expectations for gains next quarter limited falls.
The Nikkei's Friday rise, which at one point briefly took it over 11,000, plus the fact that Friday was the last day for investors to buy many Japanese stocks and still get dividends on them for the business year that ends this month, mean the benchmark is vulnerable to dips, market players said.
The benchmark Nikkei shed 64.40 points to 10,931.97 after earlier falling as low as 10,901.20. Market players said the ex-dividend impact was likely to trim about 70 points from the Nikkei. The broader Topix fell 0.5 percent to 961.96.
Defensive shares were particularly vulnerable on Monday, with pharmaceutical firms slipping broadly. Eisai, which fell on Friday on news it would not seek early approval for its sepsis medication, extended losses by 3.7 percent to 3,370 yen. Fellow drugmaker Astellas Pharma lost 2.8 percent to 3,340 yen and Takeda lost 2.7 percent to 4,135 yen.
Department store operator Isetan Mitsukoshi Holdings fell 1.3 percent to 979 yen after saying on Friday that it expected to post a net loss of 65 billion yen in the financial year that ends this month, worse than its previous forecast for zero profit and loss.
Exporters like Canon and Honda Motor slipped as well as the yen edged higher against both the dollar and the euro.
Seoul shares slipped 0.1 percent on Monday, with the sinking of a South Korean naval ship weighing on sentiment, but continued foreign buying and rises in key technology and auto blue chips lent the market support.
Analysts played down the impact of naval ship incident, as Seoul stocks posted minor losses and as U.S. share reaction to the news was also short-lived.
The Korea Composite Stock Price Index (KOSPI) was down 0.11 percent at 1,695.88 points, just shy of the psychologically significant 1,700 point level.
Shares in defense issues jumped after earlier reports that the North may have been involved with the naval ship incident.
Shares in military equipment maker Victek, a marker of military equipment parts, rose 5.04 percent and Huneed Technology, a manufacturer of wireless communications equipment for military purposes, jumped 7.28 percent. But inter-Korea cooperation issues fell, with Romanson, a watchmaker that has a production unit in the Kaesong industrial park in North Korea, shedding 3.15 percent and Kwangmyung Electric Engineering losing 5.49 percent.
PICASSA is actually forbid to use the internet by the police.
He will be back in June.
He ask me to tell to FirstBest to be fair and don't destroy this board....
Please post some interesing article about gold and world crisis in the Market.
Take care
Market Corruption Bernanke-Obama insanity ~~>> Financial market manipulation - Insane Greed Social Problem
Insane Obama money puppet is showing up on media every time when market wants to hype prices. Real motive would be to hype markets instead of really helping those who are inflicted through corruption and fraudulent financial markets.
Only what the insane greed is thinking of is how to pump markets with lunatic manipulation.
Haven't we seen enough for those who follow markets that those who took money out of others in millions, billion, or trillions do not stop like those who are addicted to hunting or who are criminals. That is one of reasons that God said not to become greedy. Hyping commodity price is one example since it is needed by all targeted to price manipulation. Commodity price hype Roger is an example who is living off of fooling others using price manipulation. The main problem for the world is that we have those who prey upon others using financial market hype which is inflicting massive trouble for others.
http://trend-signals.blogspot.com/2010/03/financial-market-manipulation-insane.html
FED Greenspan-Bernanke is fraud, American Terrorists who bankrupted millions of Americans and NOW our Nation.
Now hyping financial markets based on debt bubble. AMERICA IS NOW CORRUPT AND POSSESSED BY GREEDY PIGS.
Bernanke-Obama is living hell criminals -- bankrupting our country after millions of Americans who are now living in poverty -- using financial market corruption, hype, and manipulation.
* Ron Paul Revolution http://www.ronpaulrevolution.com/
* The big scam http://www.thesynagogueofsatan.com/
* Congressman Paul speaks on the floor about assassinations of Americans by their own government - http://www.youtube.com/user/CongressmanRonPaul#p/a/u/1/uGktTws2bK0 * Congressman Ron Paul - http://www.youtube.com/user/CongressmanRonPaul * Congressman Paul Questions Bernanke http://www.youtube.com/user/CongressmanRonPaul#p/a/u/2/bBGfJOA518o * http://www.conspiracyarchive.com/Articles/Power_Elite_14.htm The pattern continues ~ war profiteering & scientific killing (earth quake, e.g.) profiteering http://www.cnbc.com/id/35636016 * http://www.wanttoknow.info/johnperkinseconomichitman Confessions of an Economic Hit Man is John Perkins’ fast-paced autobiography, which reveals his career as an economist for an international consulting firm. Perkins says he was actually an “Economic Hit Man.” His job was to convince countries that are strategically important to the United States to accept enormous loans for infrastructure development and to make sure that the lucrative projects were contracted to U.S. corporations. * Australia's Democracy put to the test - Zündel released from the Gulag !!!! Ernst Zündel - a modern day martyr for truth and freedom -- 5 years in a German 666-Gulag http://www.rense.com/general67/zun.htm http://www.adelaideinstitute.org/ - * Ernst Zundel: Letters from western society 666-Gulag Prison in thousands of churches in the former Soviet Empire and Gulag state http://www.revisionists.com/zundel/letters.html
FED Bernanke is now stealing money from US Treasury by hyping financial markets as he has trillions of stock inventories dumping to 401k foolish buyers as financial markets easiest way to manipulate. He was lying to Americans about fraudulent activities all along. American Financial Markets are reflecting demon possessed using lies, deceptions, and hype -- just another form of criminal robbery or fraud. This video shows Bernanke lies and deception, for example.
The criminals are hyping markets to defraud Americans at higher price to dump trillions of their stock inventories, and then crush like "Haiti" -- if anyone thinks otherwise, it is naive. Anyone of you living in other country thinks that it does not apply to you, think again because behind "Peace" propaganda, there is always deception as Americans are now facing "Rude Awakening" after being deceived for decades.
Madoff nightmare ~~>> Greenspan Says US House Prices Still Fragile
GREENSPN+BERNANKE+OBAMA <<~~ AMERICAN NIGHTMARE
| 25 Mar 2010 | 05:08 AM ET
Former Federal Reserve Chairman Alan Greenspan said on Wednesday U.S. house prices appeared to have bottomed out but were still fragile and that the country would not be out of crisis until prices stabilized.
The collapse in the residential property market contributed to a deep recession and triggered a world financial crisis.
While the economy is recovering, worries linger about continued weakness in the housing and labor markets.
"We will not be out of this crisis until home prices truly stabilize in the United States. They appear to have stabilized but they are very fragile," Greenspan, who headed the Fed from 1987 to 2006 said in a television interview.
"Eventually housing will come back, it can't get any lower," said Greenspan in a conversation with Mexico's former Central Bank Governor Guillermo Ortiz.
Ortiz, who left his position after President Felipe Calderon declined to nominate him for another term last December, debuted a new television program on Wednesday where he will sit down with international economic heavyweights like the President of the European Central Bank Jean-Claude Trichet and Brazil's central banker Henrique Meirelles.
Greenspan, the program's first invited guest, chatted with Ortiz like an old friend and said he was "definitely" optimistic about the U.S. economy in the short-run but was "very worried" about long-term fiscal problems.
"We have to raise taxes and lower benefits ... and there is extreme reluctance in this country to do either."
On Wednesday, data showed sales of newly built U.S. homes fell for a fourth month to a record low in February, but a rise in new orders for durable goods offered assurance the economic recovery was on course.
# Slideshow: Highest End Real Estate
Copyright 2010 Reuters. Click for restrictions.
URL: http://www.cnbc.com/id/36030810/
MADOFF FED BERNANKE IS STILL PUMPING MARKETS !! AMERICA IS TOTALLY CORRUPT - THERE IS NO REAL HOPE UNLESS WE TAKE SERIOUS STEPS.
http://trend-signals.blogspot.com/2010/03/millions-of-americans-are-living-in.html
Getting slaughtered!
Bernanke-Obama is a living hell -- bankrupting our country after millions of Americans who are now living in poverty -- using financial market corruption, hype, and manipulation.
Millions of Americans are living in poverty, while Bernanke-Obama is further bankrupting USA using financial market corruption.
Millions of Americans are living in poverty, and 99% of global wealth is own by less than 1%.
Bernanke-Obama is a living hell.
This is a global disaster. Fight Greed & Corruption ~ Ephesians 6:11
AS PROVEN, WHILE FED BERNANKE IS ROBBING THE NATION, using market manipulation -- nothing changed except getting further slaughtered.
The FED Bernanke & his corrupt boyz are bankrupting us!!
Millions of Americans are living in POVERTY
We need to remember that Millions of Americans are living in POVERTY!
How did the FED and da boyz literally stolen TRILLIONS out of US Treasury -- and bankrupting millions of Americans and our nation.... using Financial market bubble/crashes and brainwashing media own by the massive, corrupt greed.
FED Bernanke, Obama, Doll, da boyz, etc... Pathological lies and deception as we have seen market hype by robbing US Treasury.
* Existing Home Sales Fall For Third Straight Month
*
No Signs of Double-Dip—So Invest Here: BlackRock's Doll
* The Dow rose on Tuesday, continuing a winning streak in the last nine out of 10 trading days. How should investors be positioned and where are the best sectors to invest? Bob Doll, vice chairman and chief equity strategist at BlackRock, shared his insights.
The FED & Gov ~ the most effective and convenient way to rob trillions & using Treasury and using financial markets as proven by nations around the globe are going bankrupted. ; We need to remember the economic and financial crisis is manipulated by the FED-Gov to rob using financial markets to upside and to downside. It is very easy to manipulated markets to upside and to downside with eventual outcome is to rob all.
WE ALL MUST TAKE ACTIONS BECAUSE THINGS ARE GETTING WORSE - PROGRESSIVELY BECAUSE NO ONE IS DOING ANYTHING EXCEPT A FEW.
.....................
.....................
According to the government, it is so that I can be represented and the government can tailor things for me. But even if I am counted, the passing of the Health Care Bill last night by the House shows that I am not represented by anyone in Congress. 11 out of the 12 Democrat Representatives from Texas voted for that bill. Now, if you take a poll here in Texas, in a vast majority of House districts here in Texas, you will find that the people are firmly against that bill, but their representatives voted for it anyway. So what representation is it anyway?
http://mrscottyl.multiply.com/journal
This is another aspect that they are getting HC bill in hurry.
MAIN REASON FOR DESPERATE HEALTH CARE BILL
Anyone figured out Main Reason for Desperate Health care bill
It explains the "jobless" recoveries of the past and how each recent economic cycle produces higher money figures, yet lower employment. It explains why we are seeing debt driven events that circle the globe. It explains the psychological uneasiness that underpins this point in history, the elephant in the room that nobody sees or can describe.
This is a very simple chart. It takes the change in GDP and divides it by the change in Debt. What it shows is how much productivity is gained by infusing $1 of debt into our debt backed money system.
Back in the early 1960s a dollar of new debt added almost a dollar to the nation’s output of goods and services. As more debt enters the system the productivity gained by new debt diminishes. This produced a path that was following a diminishing line targeting ZERO in the year 2015. This meant that we could expect that each new dollar of debt added in the year 2015 would add NOTHING to our productivity.
Then a funny thing happened along the way. Macroeconomic DEBT SATURATION occurred causing a phase transition with our debt relationship. This is because total income can no longer support total debt. In the third quarter of 2009 each dollar of debt added produced NEGATIVE 15 cents of productivity, and at the end of 2009, each dollar of new debt now SUBTRACTS 45 cents from GDP!
This is mathematical PROOF that debt saturation has occurred. Continuing to add debt into a saturated system, where all money is debt, leads only to future defaults and to higher unemployment.
This is the dilemma created by our top down debt backed money structure. Because all money is backed by a liability, and carries interest, it guarantees mathematically that there will be losers and that the system will eventually reach the natural limits, the ability of incomes to service debt.
Fed & Doll Pathological lies and deception as we have seen market hype by robbing US Treasury.
FED & Doll, etc, since Mar 2009 - NOTHING BUT market hype
* Existing Home Sales Fall For Third Straight Month
* No Signs of Double-Dip—So Invest Here: BlackRock's Doll
* The Dow rose on Tuesday, continuing a winning streak in the last nine out of 10 trading days. How should investors be positioned and where are the best sectors to invest? Bob Doll, vice chairman and chief equity strategist at BlackRock, shared his insights.
http://trend-signals.blogspot.com/2010/03/healthcare-market-hype.html
The FED Crooks ~` he most effective and convenient way to rob trillions & using Treasury using financial markets since 1913.
Geithner Testifies to House Committee
Greedy FED Bernanke & da Boyz heading to eternal hell ~ robbing and bankrupting America using Treasury.
Greedy Fed Ben & da boyz end will be in Eternal hell <<~~ trillions of stolen money life in Eternal hell ~~~
Fed Bernnake and da boyz are watched by God 24/7 into Eternity, so don't think that you would be getting away with it just because you are enjoying earthly heaven with stolen money.
http://trend-signals.blogspot.com/2010/03/health-care.html
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