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whats the M6B..??
Pants , I was going to invite myself over to yr. house to learn how to trade.
Its more important though to ask how you can name that nice dog porkchop.
Zab, Why do you think VW located to Chattanooga??
Go read King World News
Is It Over for Apple?
We’ve been following Apple shares closely, since, if its spectacular bull market is over, so is the Mother of All Bear Rallies begun on Wall Street in March of 2009. Yesterday, Apple did something that should have scared bulls out of their pants. If you want to find out what, try a free trial subscription to Rick’s Picks by clicking here.
Canny-- Inside Man ? Clive Owen
This is QE
The European Stabilization Mechanism Treaty due to pass in July this year will take care of whatever money is required by Spain or any other Euroland nations for effective bailout. It starts with $700 billion in capitalization and has an open call for additional capital infusion with no limit placed on these calls and no further agreements required.
New additional capitalization called on by this treaty is mandatory, not elective and therefore will go to infinity.
The member nations have 7 days to pay up when ordered to by the management of the EMS who are protected against any form of attack or litigation to legislation. It will be backed by the US Fed via swaps while the US publicly denies it is adding any capital to the IMF or this new entity, ESM.
It is the mechanism for QE to infinity in Europe.
QE to infinity, properly understood, is debt monetization on steroids. Denials will be legion, but this debt monetization on steroids will not and cannot be avoided.
The advent of the ESM Treaty establishing the European Stabilization Mechanism is economically Earth shaking and recognized by almost no one out there. It cannot be otherwise, it cannot be avoided. It can de denied but it will occur.
QE on table just not pulling trigger tomorrow
well stated.
Sunday evening read April 22 EXCERPT// ACTING MAN BLOG
“The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion—policemen, customs guards, penal courts, prisons, in some countries even executioners— had to be put into action in order to destroy the gold standard. Solemn pledges were broken, retroactive laws were promulgated, provisions of constitutions and bills of rights were
openly defied. And hosts of servile writers praised what the governments had done and hailed the dawn of the fiat-money millennium.” (in 'The Theory of Money and Credit')
“Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.” (in 'The Theory of Money and Credit')
“It is the typical policy of après nous le déluge. Lord Keynes, the champion of this policy, says: “In the long run we are all dead.” But unfortunately nearly all of us outlive the short run. We are destined to spend decades paying for the easy money orgy of a few years. (in 'Omnipotent Government'),
“The unprecedented success of Keynesianism is due to the fact that it provides an apparent justification for the “deficit spending” policies of contemporary governments. It is the pseudo-philosophy of those who can think of nothing else than to dissipate the capital accumulated by previous generations.” (in 'Planning for Freedom')
“Laissez faire does not mean: let soulless mechanical forces operate. It means: let individuals choose how they want to cooperate in the social division of labor and let them determine what the entrepreneurs should produce. Planning means: let the government alone choose and enforce its rulings by the apparatus of coercion and compulsion.” (in 'Planning for Freedom')
“Laissez faire, laissez passer does not mean: let the evils last. On the contrary, it means: do not interfere with the operation of the market because such interference must necessarily restrict output and make people poorer. It means furthermore: do not abolish or cripple the capitalist system which, in spite of all obstacles put in its way by governments and politicians, has raised the standard of living of the masses in an unprecedented way.” (in: 'Omnipotent Government)
“Government does not have the power to encourage one branch of production except by curtailing other branches. It withdraws the factors of production from those branches in which the unhampered market would employ them and directs them into other branches.” (in 'Human Action')
“History does not provide any example of capital accumulation brought about by a government. As far as governments invested in the construction of roads, railroads, and other useful public works, the capital needed was provided by the savings of individual citizens and borrowed by the government.” (in 'Human Action')
“Therefore nothing is more important today than to enlighten public opinion about the basic differences between genuine Liberalism, which advocates the free market economy, and the various interventionist parties which are advocating government interference. “ (in 'Economic Freedom and Interventionism'
And QE to infinity....
Yankee you're the only one NOT hung up on QE3...
you doth live in a glass globe that needs shaking..
thats why you love provoking !!!
Does anyone do currencies here..???
Something really big is going on....loss of control...tptb fighting to
get off sinking ship... who knows....
I don't believe Aaron knows squat about what hes talking about re gold as an asset.
I wonder whose payroll ole Aaron is on... the JP morgue..??
you're talking about war really... enslave.
whats dcb..?
Tinner, I totally am in agreement with you..I have no idea what
provoked you to think I think any differently
I have been signing petition after petition to stop Keystone.
I said "Buffet needs his trains to transport the oil...."
OK..??
That was very interesting Tinner. I am not sure what my post concerning the Keystone oil pipeline has to do with your High Plains water table..
it wouldn't benefit Buffet and his railroad though so it won't get built.
Cap--I don't have a clue what you're saying here.I was responding to a post taking the regular medisa puppets seriously.
Will you people here please wake up..??
We are being managed. China is in fantastic shape compared with America and Europe.
QE to infinity is the reality. Dollar to hell another reality.
Our economy... well, ask Yankee, he knows.
Its the dog that didn't bark in the night... S. Holmes
all the Fed blathering is to keep the dollar in check.. ditto gold. silliness,noise.
NY Fed governor Dudley got the market up with his stating earlier today that he hopes we get more stimulus..
What Bernanke says tomorrow after markets are closed..could dispel hope..
All a charade and control scene till its not.. he can't turn on the spigots much later than now.
Too politik near election.
Effect on all products. you name it. right wing left wing. deflation, recession. tamatas , potatos..
Lets call the whole thing off... THIS AIN"T B.S.
It seems that shipping is in deep trouble as we have no tankers to carry goods across the ocean.
The ships instead are heading for the scrap yard.
(UKTelegraph/Emma Rowley)
Trouble in shipping turns ocean into scrapheap
THE DOWNTURN IN SHIPPING IS HITTING THE INDUSTRY SO HARD THAT SOME OF THE WORLD'S BIGGEST VESSELS ARE NOW WORTH LITTLE MORE THAN THEIR SCRAP VALUE, NEW FIGURES SHOW.
By Emma Rowley
7:28PM BST 09 Apr 2012
Shipyards have been turning out new vessels at a pace designed to service global demand that has simply failed to materialise, meaning the industry is now sinking under massive overcapacity.
As owners have seen the rates charged to carry freight plunge, demand for their ships has collapsed to the point that selling them for scrap makes financial sense much earlier in a vessel's life.
In the worst hit sectors, the fall in the ships's value and the rise in the price of steel – driven by rapacious demand from China as it builds itself anew – means that the difference between the prices fetched if vessels are sold on to keep sailing and those if they are broken up for scrap is now minimal.
Cargo ships as a general rule are built to sail for 25 years, yet in the volatile VLCC or "very-large crude carrier" sector, which comprises the world's biggest oil tankers, scrap and resale prices reached parity in recent months for the average 15-year-old ship, according to prices tracked by industry information provider VesselsValue.com.
A typical 15-year-old VLCC achieved an average resale price of about $78m (£49m) at the peak of the market in July 2008, its research shows. That figure has since plunged to $23m.
Adrian Economakis, lead research analyst at VesselsValue.com, said that ship prices have in the main been heading in only one direction.
"There was a bit of a 'dead cat bounce' in the middle of 2010 when there was a small recovery but the general trend has been quite horribly downward," he said. "From the second half of 2010 to today, it has looked like a ski slope."
Meanwhile, the same ship's scrap value has moved in the opposite direction, climbing sharply in recent years. From a low of $12m back in June 2009, when the scrap market was at its worst, the same VLCC ship would now achieve close to $20m if its was sold for its metal.
While that is not the $31m it could have achieved back in 2008, when combined with the slide in resale values, it does signal that the gap between scrap and "floating" prices has narrowed markedly.
Many ship owners, however, are refusing to scrap their ships in the hope of a shock which could resuscitate the market – perhaps some global upheaval which would push up rates against a backdrop of broadly flat global demand for oil.
A serious flare-up around Iran, for example, still at loggerheads with the West over its nuclear ambitions, could boost the VLCC market, as the disruption to oil supplies would require ships to carry fuel further around the world.
Admittedly, there are differences in performance throughout the shipping industry, with the market for smaller "medium range" tankers, which carry refined oil products, holding up better than that for the super-sized crude carriers. But nor is the problem confined to VLCCs.
A similar oversupply of container vessels operating on the Asia to Europe trade lanes has pushed freight rates to "unsustainably low levels", operator Maersk Line warned earlier this year, as it announced it was taking 9pc of its capacity on the route out of service.
More cutbacks and rebalancing will be needed to put the industry back on a sustainable path, observers warn, since a flurry of new ship orders placed in 2008 means that a large amount of vessels are expected to enter world fleets this year and the next.
The downturn is also being compounded by funding issues as banks, under pressure to boost their own capital buffers, pull back from financing, notes rating agency Fitch. It expects impaired loans and impairment charges relating to ship finance to continue at heightened levels or even "increase somewhat". Fitch's estimates show that Lloyds Banking Group has already reduced its exposure to shipping from around 1.5 times its total equity in 2008 to just 50pc-75pc currently.
Little reason for cheer lies ahead, according to Fitch, which expects the industry's overcapacity to continue until 2014, when increased scrapping rates, shrinking ship order books and an improvement in global demand should bring the market closer to equilibrium.
"Our perception now is it should start improving in 2014, for two reasons," said Jens Hallen, an analyst at Fitch. "On the one side, we expect that the new number of ships coming into the market is reducing, [so] effectively you have a lower supply of ships. Equally important is that world demand and trade globally will start picking up."
In the meantime, the only people who might benefit are those willing to take a risk on a very shaky looking market.
"There's a lot of people losing a lot of money and people going bankrupt, so the vultures are circling," said Mr Economakis.
end
Speaking of shipping, it looks like the Greek dockers are going on strike for two days as they protest the new Greek austerity measures:
No one on this board posts BS. Its a very nice place.You judge people and you judge
their political bent.
In this day.. right and left are superfluous. You come across as very aggressive and superior.
No one else does .
Pants tolerates you and has been most generous imo.Ditto for others. There are some very smart people here. Try to lay back and realize we don't need your censoring. We can disagree on the recession. Discussion is fruitful , people contribute their insight... superiority is very tedious.
Zab, don't they have to get the market down.. in order to enable Bernank??
Give him cover for his 'remarks'.
I don't remember saying anything like that.I have believed we are in a recession for 3 yrs.
With more to come..
I think your job here is to discredit and be a nuisance. to people who mean well..
I believe you alone think we are not in a recession...
Dan & fellow gold followers..
Jim Sinclair’s Commentary
The transparency of today and yesterday:
To put things into perspective, who did Financial TV interview on yesterday’s FOMC statement from the Fed? Of course, it was the only hawk on the board, Lacker.
Ten other members are ignored because what they would say would not fit with the market play the five leading US banks executed in the market yesterday and today.
The transparency of the charade is so clear that it reflects an egomaniacal approach to all markets. Those who the gods wish to destroy they make mad first. Egomania is madness. A sociopath acts as if they were a demon.
An egomaniac sociopath would take great joy in showing the world who is the boss. There will be great toasting on $1000 bottles of wine at a special Italian restaurant in New York tonight.
If you have no margin you will prevail.
If you deal on margin you are toast.
If you have margin get rid of it.
Jim Sinclair’s Commentary
Gold is destined to trade at the prices outlined by Alf Fields. The gold banks will, as they did in 1980, make the most money over the shortest time as gold goes to overvaluation long.
Cap, you really believe no QE3....? I don't.
You are such a drag,,,you must enjoy it
Yankee, the markets float because of fiat. Get real.
Notin is substance except in the commodities..
when no more Fed purchasing ...kerplonk.
but, its an election.
Zab- care to make a wager on those metal companies not participating...?
Basser, I do what I do. Go to Zero Hedge. I do not advocate uranium stocks and I wonder if that pisses you off.
Chernobyl brought down the Soviet Union and the old nukes will bring down the rest. Including you & me. Not to mention California and their agriculture.
Love those uranium stocks
From Zero Hedge today
California Slammed With Fukushima Radiation
Submitted by George Washington on 03/30/2012 12:26 -0400
Department Of Energy Japan Nuclear Power
The Journal Environmental Science and Technology reports in a new study that the Fukushima radiation plume contacted North America at California “with greatest exposure in central and southern California”, and that Southern California's seaweed tested over 500% higher for radioactive iodine-131 than anywhere else in the U.S. and Canada:
Projected paths of the radioactive atmospheric plume emanating from the Fukushima reactors, best described as airborne particles or aerosols for 131I, 137Cs, and 35S, and subsequent atmospheric monitoring showed it coming in contact with the North American continent at California, with greatest exposure in central and southern California. Government monitoring sites in Anaheim (southern California) recorded peak airborne concentrations of 131I at 1.9 pCi m-3
Anaheim is where Disneyland is located.
EneNews summarizes the data:
Corona Del Mar (Highest in Southern California)
2.5 Bq/gdwt (gram dry weight)= 2,500 Bq/kg of dry seaweed
Santa Cruz (Highest in Central California)
2.0 Bq/gdwt = 2,000 Bq/kg of dry seaweed
Simon Fraser University in Canada also tested North American seaweed after Fukushima:
“In samples of dehydrated seaweed taken on March 15 near the North Vancouver SeaBus terminal, the count was zero; on March 22 it was 310 Bq per kilogram; and by March 28 it was 380 Bq/kg.” -Vancouver Sun
Seaweed in Seattle also tested positive for iodine-131; levels were not reported -KIRO
No results after March 28 were reported
In addition, radioactive debris is starting to wash up on the Pacific Coast. And because the Japanese are burning radioactive materials instead of disposing of them, radioactive rain-outs will continue for some time … even on the Pacific Coast.
Of course, the government is doing everything it can to help citizens cover up what’s occurring. We pointed out in January:
Instead of doing much to try to protect their citizens from Fukushima, Japan, the U.S. and the EU all just raised the radiation levels they deem “safe”.
Nuclear expert Arnie Gundersen says that high-level friends in the State Department told him that Hillary Clinton signed a pact with her counterpart in Japan agreeing that the U.S. will continue buying seafood from Japan, despite that food not being tested for radioactive materials [see this].
And the Department of Energy is trying to replace the scientifically accepted model of the dangers of low dose radiation based on voodoo science. Specifically, DOE’s Lawrence Berkeley Labs used a mutant line of human cells in a petri dish which was able to repair damage from low doses of radiation, and extrapolated to the unsupported conclusion that everyone is immune to low doses of radiation….
Indeed:
American and Canadian authorities have virtually stopped monitoring airborne radiation, and are not testing fish for radiation. (Indeed, the EPA reacted to Fukushima by raising “acceptable” radiation levels.)
So – as in Japan – radiation is usually discovered by citizens and the handful of research scientists with funding to check, and not the government. See this, this, this, this, this and this.
The Japanese government’s entire strategy from day one has been to cover up the severity of the Fukushima accident. This has likely led to unnecessary, additional deaths.
Indeed, the core problem is that all of the world’s nuclear agencies are wholly captured by the nuclear industry … as are virtually all of the supposedly independent health agencies.
So the failure of the American, Canadian and other governments to test for and share results is making it difficult to hold an open scientific debate about what is happening.
And it’s not just radiation from Japan. An effort by the Southern California Edison power company to secretly ramp up production to avoid public disclosure may have led to a leak at the San Onofre nuclear power plant.
And see these articles on California radiation exposure courtesy of EneNews:
Anaheim, CA has highest amount of radioactive fallout of any EPA air monitoring station in Continental U.S. for iodine-131
Over EPA limit: Cesium levels in San Francisco area milk now higher than 6 months ago
USGS: Los Angeles area had highest cesium deposition in US after Fukushima
“Tends to concentrate in the testicles”: 360+ atoms of radioactive sulfur per day may have been inhaled by Californians after Fukushima
Unprecedented Spike: 1501 atoms of radioactive sulfur per meter³ was detected in California air
Radioactive sulfur in California spiked to highest levels ever detected: University researchers
Controversy after US gov’t estimate showed 40,000 microsievert thyroid dose for California infants from Fukushima — Data not released to public — “Very high doses to children”
Spike in radiation levels for West Coast? “Abnormal” readings on 8 of 18 EPA monitors for California, Oregon, Washington — Devices now “undergoing quality review”
Nuclear policy expert: “Striking” that radioactive iodine-131 in California rainwater is so far above level permitted in drinking water
Uranium-234 detected in Hawaii, Southern California, and Seattle
byyankee find another forum...
Why are you here..?