Storing cash in my furnace
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The Underground - A Hidden Reality and The True Story of Phil Schneider
Mass UFO Sightings in Fresno, CA (Daytime) - 3 Eyewitness Videos - May 11, 2012
That's what I appreciate most about this board :) Thanks to everyone for the intriguing posts!
I agree completely. I try not to post anything here that can easily be written off as a hoax, since there are far too many of those created on a daily basis. I have the utmost respect for this board. This one appears to have initially gotten the better of me. I doubt I'll see any further evidence to back the story.
Simply bizarre
Recent UFO footage over LAS VEGAS BLVD
Warning: Foul language. I think I'd be saying worse.
Awfully slow moving shooting star and no tail
It's being pumped by these guys. Has been for over a week now:
Gold/Silver and SFEG Investors are on the EDGE of GLORY in our opinion
SFEG UP 13% yesterday and UP another 8% today!
You already know the fundamentals for gold/silver and SFEG, so allow us to show you what we are so excited about.
A 'Strong BUY' Alert from BarChart.com! But not just any 'Strong BUY' alert, they get a 100% BUY rating in every single category. Now for those of you who have been subscribed to us for years, you can testify, that we have never been so pleased to present a company to our members. With 55 employees, gold/silver production, and an independent report out there with a $5 price target, we believe this one is going to make us famous! Well, at least with some of our members, now we want to disclose that AFTER we profiled SFEG to all of our members, we purchased shares on the open market and have now made SFEG our single largest position. We plan to hold these shares for at least 6 months, if not longer.
Did we mention the Sandstorm Gold connection to SFEG? Yes, we are talking about the same Sandstorm Gold lead by the former CFO of Silver Wheaton.
For those who recall our other high confidence profile, Sandstorm Metals and Energy, who is run by the same team as Sandstorm Gold, two companies who are ran by the former CFO of Silver Wheaton, Nolan Watson. Nolan Watson and his team from Sandstorm Gold did their due diligence on SFEG and ended up making an upfront investment into the production of SFEG's Summit Mine of $4 million.
Big Weekend Ahead!
Now that we have told our members about SFEG, it's time to tell the rest of the mining industry. We will be releasing our interview of CEO Pierce Carson this weekend. We will be sharing it on resource investment blogs, message boards, and all our favorite mining websites.
Watch SFEG and watch GOLD, Iran is heating up and Greece is on the verge of default. This could be the year we see gold make huge multi-hundred days along with oil as well.
BarChart.com
Technically speaking, SFEG is at the $1.20 resistance mark as we write this. If SFEG can break $1.20, the next areas of resistance are $1.29 and $1.40. If it breaks $1.40, it could be clear sailing to $1.75. Remember, Pierce Carson is sitting down with institutional investors right now in New York.
Focus on the trends, share our emails with friends and family.
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Please review our entire disclaimer. Never base any decision off of our emails. FutureMoneyTrends.com stock profiles are intended to be stock ideas, NOT recommendations. The ideas we present are high risk and you can lose your entire investment, we are not stock pickers, market timers, investment advisers, and you should not base any investment decision off our website, emails, videos, or anything we publish. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this profile was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable.Never base any investment decision from information contained in our website or emails or any or our publications. Our report is not intended to be, nor should it be construed as an offer to buy or sell, or a solicitation of an offer to buy or sell securities, or as a recommendation to purchase Santa Fe Gold Corp securities. Santa Fe Gold Corp has compensated us twenty five thousand dollars to publish our research to our members, investor awareness services, and website coverage. We have NOT been compensated with any of Santa Fe Gold Corps common stock share. However, after our profile, and on the open market, we purchased shares that we plan to hold for at least six months. This publication may provide the addresses or contain hyperlinks to websites; we disclaim any responsibility for the content of any such other websites Please use our site as a place to get ideas. Enjoy our videos and news analysis, but never make an investment decision off of anything we say. Please review our entire disclaimer.
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Thanks for sharing that! I signed the petition. Worth a shot. Only 22,590 to go. :(
Major US Intelligence Agency Reveals ET Contact
NSA releases ultra-secret file regarding effort to decode decades-old alien signals
Scientists determined that mysterious signals received in 1957 were transmitted to Earth from an advanced alien civilization. Decades have passed while security analysts and dedicated cryptographers struggled to decipher the enigmatic messages from a completely unknown, distant alien culture.
Now, in 2011, the National Security Agency—one of the United States' most secret intelligence gathering organizations—has released under protest (forced by order of a U.S. Federal Court judge) stunning information about intelligent life in the universe.
But as usual, the non-curious, inept, doltish mainstream media completely ignores it.
NSA briefings are mostly held in secret
NSA analysts marvel at strange messages
Twenty-nine lengthy transmissions were received and verified as being "of extraterrestrial origin." According to some in the intelligence community, this hot potato was given the highest priority and assigned to "goggle-eyed geeks" tasked to find out exactly what the enigmatic transmissions said.
NSA supercomputers worked on alien code
Speculation among some of the NSA spooks about what the mysterious messages said allegedly ran the gambit from sarcastic guesses they were just some garbled alien radio commercials (an inside joke that drew nervous laughter from some of the analysts) to those that were convinced the messages—coded in some unknown mathematical progression—conveyed the basics of unlimited energy, star travel, or even time travel.
Allegedly, those that subscribe to the latter theories have absolutely nothing to support their belief.
SETI's Arecibo telescope—attempts to intercept alien signals failed
NSA forms crack teams
According to researchers who have analyzed the document [available for your inspection as a downloadable PDF at the end of this article] an NSA specialist named Dr. Howard Campaigne was given the responsibility of choosing a cryptology team to work on cracking the alien messages.
Inside a supersecret NSA communications room
The task was compartmentalized and many who worked at the NSA had no idea that such a project—or even the messages the team focused upon—existed.
The entire project was strictly enforced by secrecy and conducted under the auspices of the Official Secrets Act and all participants took National Security oaths.
Only those deemed crucial to the success of the undertaking were allowed access to the secret under the provisions of a well-defined need-to-know heirarchy.
What message did the aliens send? NSA isn't saying
Private researchers stumble upon 'great secret'
The project allegedly had been in the works for decades when some in the UFO community who were bombarding government agencies and the United States Air Force with Freedom of Information Act (FOIA) requests about UFO sightings and activities stumbled across a potential bombshell.
Although many of the documents they received were heavily redacted with page after page blacked out, several separate documents that were released from the NSA contained snippets of information—clues—that some sort of alien message had been intercepted during the late 1950s.
The investigations struck paydirt when an obscure reference to an internal report (NSA Technical Journal Vol. XIV No. 1) about a cryptology team tasked to decode messages obtained from outer space (meaning from outside the solar system) was discovered.
NSA fights release of supersecret ET documents
After several years of intense effort to dislodge the now identified report from the NSA, the explosive document was reluctantly downgraded from one of the highest secret classifications to an unclassified status and scheduled for an October 21, 2004 release to the public.
The date came and went without the document being released.
A federal court judge ordered NSA to release the document
Tenacious lawsuit wrenches massive secret from NSA vaults
Eventually, Peter Gersten, a lawyer from Arizona, sued the intelligence agency demanding its release—along with other documents—under the auspices of a strict interpretation of the FOIA law. The case dragged on until a federal judge found in favor of the plaintiffs and ordered the NSA to release the documents.
Release of NSA Technical Journal Vol. XIV No. 1
Quietly, under court order, the NSA released the section of NSA Technical Journal Vol. XIV No. 1 stipulated by the judge. The agency tucked it away in an obscure corner of their Internet site.
The document concerning the extraterrestrial contact contained only one of an unknown number of other reports/articles written by the team working for Dr. Campaigne. The FOIA document was incomplete: only pages 13 through 23 were released with some slight redaction. All other pages were missing. No other reports were included, although the pages released clearly refer to other articles written by the team describing their efforts to break the alien code.
This release may well be the smoking gun that researchers have searched for during the last 50 years. It sheds a very strong light into the darkest corners of the U.S. intelligence community's massive coverup of UFOs, ETs and other unworldly events.
The title of NSA Technical Journal Vol. XIV No. 1 report is a bombshell: Key To The Extraterrestrial Messages.
It's unambiguous to say the least. If the NSA's own authentic document, meant "for your eyes only" internal distribution is to be believed, alien intelligences not only exist, they contacted us more than five decades ago.
That means they know we're here.
Is two-way contact wise? Hawking says no
Famed physicist Stephen Hawing remarked in 2010 that if an extraterrestrial race ever discovers us it might not be a good thing. It could spell the end of the human race.
The word is most of the alien messages have still not been translated. If they ever are let's hope the full message does not turn out to be like that famous episode of the classic Twilight Zone television series, "To Serve Man" about aliens arriving on Earth.
In that chilling story, U.N. translators that translated the alien's language discovered the book the ETs always carried with them was a cookbook.
http://beforeitsnews.com/story/1424/136/Major_US_Intelligence_Agency_Reveals_ET_Contact.html
I agree. I don't see it as a typical pump and dump. Reputable people involved. Just learning about SAGE but liking what I see so far.
This stock is in the beginning of a 2 week awareness campaign by the following promoter. 60K compensation. Be interesting to see how it turns out. Seems like a very legit organization.
SageBrush Gold, Ltd
PPS: $1.03
Ticker OTCBB: SAGE
Company Website: http://www.SageBrushGold.com/
Trend Trader Ranking: Breakout
SAGE is a U.S. based gold exploration company located in Nevada. Nevada is ranked the fourth largest gold producer in the world. Nevada produces 6-8 million ounces of gold per year and 85% of that comes from the area in which SAGE is located!
SAGE sits in fertile regions in the gold rich heart of Nevada. SAGE is located in Battle Mountain, a region that is so well known for its gold deposits that companies such as Gold Fields, Rand Gold, Newmont, Barrick, and Freeport-McMoran Copper have all been drawn to it. This is not surprising since its said to have at least 122 million ounces of gold worth in the ground, which is equal to approximately 200 billion at today's prices of approximately $1,650 an ounce.
Something that is extremely noteworthy is that SAGE has the largest property in its region compared to even the big names around it. As of September 7, SAGE announced a joint venture with Liberty Star Uranium and Metals Corp for Uranium Assets. A Letter of Intent was recently signed for SAGE to enter this JV to combine their synergy and create something much bigger than either of them could have done on their own.
Check out SAGE's HIGHLIGHTS
• SAGE's lead geologist, who has already discovered over 15 million ounces of gold, believes that his company SAGE could be sitting on as many as 10 million ounces of gold, which would have a pure gross-profit potential of nearly $7.8 billion dollars and would be his biggest discovery to date!
• SAGE is located in the USA (not in some South American banana republic or narco state).
• The world’s greatest gold companies are operating in the Battle Mountain area of Nevada, where up to $52 Billion worth of gold is up for grabs. Yet, in the Greater Cortez District of the Battle Mountain-Eureka Trend, SAGE controls one of the largest claims in this prolific gold field!
• In A HUGE COMPANY MAKING EVENT, SAGE purchased a 20 million dollar state-of-the-art gold processing plant!
• A gold processing plant puts a junior explorer like SAGE into an exclusive club that very few are able to get into.
• And, the processing plant deal includes a property that holds an indicated 155,000 ounces of gold, when processed this gold could yield SAGE as much as $100 million in revenue.
• As with their Red Rock property in the Cortez District, this new property located in Relief Canyon, Nevada is also surrounded by multi-billion dollar companies like Coeur d`Alene Mines ($2.5B market cap) and Newmont Mining ($30.7B market cap) to name a few.
• Throughout his distinguished career, SAGE's legendary geologist has led multiple teams to discover over 15 million ounces of gold.
Arthur Leger
Director of Exploration and Field Operations- Head Geologist
The projects SAGE is embarking on is being led by a man who has found more than 15 million ounces of gold in Nevada. Arthur Leger has been recently brought on board to the team to add his expertise in geology to SAGE. He's worked with some of the largest mining companies in the world, and today is excited to be heading up SAGE in which he believes is sitting on 10 million ounces of gold. He considers the 2 properties that he is a part of the most exciting projects that he's ever done in his successful extensive career. He has spent 35 years in the mining industry as a senior level geologist and has spent the majority of his career in Nevada in gold exploration.
Currently, SAGE has a number of projects in the works in Nevada including Red Rock, North Battle Mountain, and newly acquired Relief Canyon Gold Mine & Processing Facility.
Relief Canyon Gold Mine (Brand New Project)
The Relief Canyon Gold Mine Project is SAGE's latest expansion that includes both millsite claims and lode mining claims. On August 31, 2011, SAGE announced its acquisition of the Relief Canyon Gold Mine Project. This BRAND NEW project is located in Packard Flat which is in Antelope Springs mining district. At this project, SAGE has five heap leach pads, two solution ponds, and a cement block constructed Absorption-Desorption-Recovery solution processing circuit. This site has an enormous amount of history having already produced other minerals such as gold, silver, mercury, antimony and fluorite starting in the 1860s. Gold was first discovered at Relief Canyon in 1979. As of June 2010, measurements taken NI43-101 compliant showed that indicated gold resources were at 113,000 ounces and inferred resources were at 42,000 ounces adding the potential for significant future profits.
Red Rock
At Red Rock, SAGE has 2 potential targets. One which is an open pit mine and the other is an underground world class Carlin-type deposit. SAGE has contracted with RedCor drilling and is permitted to drill up 9 angled diamond holes for a total of 16,000 feet. Red Rock is composed of 2,177 hectares of property. Its geologic mapping, rock/soil sampling, and geophysics are completed. With all of the above completed, drill holes are already defined.
Located at the intersection of 3 major gold trends.
-Battle Mountain Eureka Gold Trend containing at least 50 million ounces of known gold.
-The Rabbit Creek Gold Trend containing at least 40 million ounces of gold.
-The Caetano Caldera Trend, a trend that has helped localize at least 30 million ounces of gold.
SAGE's potential at Red Rock is evident with extensive geologic maps, abundant rock and soil geochemistry, detailed gravity data, detailed aeromagnetic data, drill hole logs, assays, chips, and core.
North Battle Mountain
This project is located along the Northern Nevada rift, a gold belt containing at least 8 million ounces of gold. SAGE is exploring yet again another 2 potential gold targets, one of which is a shallow open-pit gold deposit and the other is an underground gold mine. There are 36 contiguous unpatented load claims on 291 hectares or 1 square mile. The mineralization is similar to Carlin-type gold systems.
What is so exciting about SAGE's North Battle Mountain project? They are located in an area that has high probability of gold deposits, shallow drilled gold, sampled high-grade surface gold, extensive rock/soil geochemical anomalies, and geophysical confirmation.
Brand New Claims!
On September 19, SAGE announced that they had leased 24 unpatented mining claims from Centerra Gold. These claims are adjacent to the Red Rock project. With a brand new target, SAGE has so many opportunities to STRIKE exactly what they are looking for!!!
FutureMoneyTrends.com is encouraging our subscribers to educate themselves on this trading idea. This pullback we've seen in precious metals is exciting for those of us who are always looking to accumulate more precious metals and related securities.
Take the time to visit SAGE's website for yourself and see why we are focusing so much on this dynamic company. There is little to not like about this company and we are really excited about the future of SAGE.
Visit: http://www.sagebrushgold.com/
www.FutureMoneyTrends.com
Please make sure to REGISTER at www.FutureMoneyTrends.com to take full advantage of the vast benefits. FutureMoneyTrends.com
You can contact us at TrendAlerts@FutureMoneyTrends.com
Please review our entire disclaimer. Never base any decision off of our emails.
FutureMoneyTrends.com stock profiles are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this profile was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. FutureMoneyTrends.com has been compensated sixty thousand dollars by Interactive Investors Inc. to benefit SageBrush Gold for a two week investor awareness marketing campaign. Please use our site as a place to get ideas. Enjoy our videos and news analysis, but never make an investment decision off of anything we say.
Debunk this.....
New WT7 video. You be the judge. Real or????
The transfer may get rejected the first time around then. Hopefully not but if it does just do another transfer when you are sure the sale is settled. Zecco can't charge any fees unless the transfer goes through. I learned that when I initially attempted a transfer to TDAmeritrade and it was rejected.
Rumor has it thestockmafia.com is their new paid promoter and will be pumping this tonight
Too bad too few were paying attention to this great man
(NaturalNews) What would all the world's experts and authorities say today if the Titanic were sinking but nobody was willing to admit it? The U.S. economy, after all, is sinking and taking on an unprecedented volume of water (i.e. debt), yet virtually no one is willing to admit the obvious fact that this ship is sinking. And much like with the Titanic, most "experts" continue to claim the U.S. economy is unsinkable, despite the obvious evidence that we might want to start heading for the life rafts.
So in the spirit of comedy -- which is, after all, what we are witnessing in Washington these days -- imagine The Titanic hitting an iceberg in 2011, followed by a string of experts all trying to spin the story their own way. Here's what they might say:
The White House Press Secretary: The iceberg was placed in the Atlantic ocean by Osama Bin Laden.
The chemist: That's not an iceberg. It's merely solid-state di-hydrogen oxide.
Al Gore: That iceberg wouldn't have even been there if the polar caps weren't melting.
The Congressman: Quick, let's pass a new law that says ships shall not sink.
President Obama: The Titanic isn't sinking. It's merely engaged in "aquatic action."
Former President Bush: Icebergs are weapons of mass destruction planted in the ocean by terrorists. We must avenge the iceberg terrorists!
The Pentagon: We will equalize the hole in one side of the ship by blowing a matching hole in the other side.
The TSA inspector: You're not allowed onto a lifeboat until we check your anus for explosives.
The Cancer Doctor: We can't fix the hole in the ship, but through the miracle of chemotherapy, we can make you suffer so much that you won't care.
The Wall Street investment banker: Don't worry, the Fed will bail out all the water we're taking on. The Titanic is too big to fail.
The teenage girl: Can I still text on my iPhone under water?
Congressman Weiner: Yes you can, and by the way, here's a very special "going away" message for you to remember me by.
Average Joe: Is the ship's buffet still open?
The FDA: We believe the ship is sinking because of an e.coli infection that spread from the galley.
The CDC: Everybody should get vaccinated before the ship sinks, just in case there's a shark-flu virus in the water.
The New Ager: There is no hole in the ship unless you believe there is a hole in the ship.
The Academic: I have published a paper that proves this ship is unsinkable. Would anyone like to read it? Please?
The Catholic priest: I think we should save all the children first. Which lifeboat are they on again?
The Journalist: The Titanic has a hole in its side, but official sources tell us it's only "aquatic action" and there's no cause for alarm. And we believe them.
The Federal Reserve: We have decided to dump more water onto the ship in the hope of making it float.
The Federal Government: Hey, these deck chairs look pretty nice. Let's rearrange them!
The Doctor: We need to order a couple dozen CT scans of the ship's null and bill them to Medicare before we have any idea at all what to do.
The Denialist: Stop talking about negative things. Stay focused on the positive and you won't need a life vest.
The Realist: This ship is going down, folks. You might want to think about taking action to keep yourself alive.
The Gullible Masses: Don't worry, this ship is unsinkable.
Even if it did sink, there are plenty of lifeboats.
Even if there aren't enough lifeboats, we all have life jackets.
Even if we don't have enough life jackets, the government will come save us.
Learn more: http://www.naturalnews.com/032753_Titanic_spin.html#ixzz1Q1h4sssV
Exclusive: The Fed's $600 Billion Stealth Bailout Of Foreign Banks Continues At The Expense Of The Domestic Economy, Or Explaining Where All The QE2 Money Went
http://www.zerohedge.com/article/exclusive-feds-600-billion-stealth-bailout-foreign-banks-continues-expense-domestic-economy-#comments
Courtesy of the recently declassified Fed discount window documents, we now know that the biggest beneficiaries of the Fed's generosity during the peak of the credit crisis were foreign banks, among which Belgium's Dexia was the most troubled, and thus most lent to, bank. Having been thus exposed, many speculated that going forward the US central bank would primarily focus its "rescue" efforts on US banks, not US-based (or local branches) of foreign (read European) banks: after all that's what the ECB is for, while the Fed's role is to stimulate US employment and to keep US inflation modest. And furthermore, should the ECB need to bail out its banks, it could simply do what the Fed does, and monetize debt, thus boosting its assets, while concurrently expanding its excess reserves thus generating fungible capital which would go to European banks. Wrong. Below we present that not only has the Fed's bailout of foreign banks not terminated with the drop in discount window borrowings or the unwind of the Primary Dealer Credit Facility, but that the only beneficiary of the reserves generated were US-based branches of foreign banks (which in turn turned around and funnelled the cash back to their domestic branches), a shocking finding which explains not only why US banks have been unwilling and, far more importantly, unable to lend out these reserves, but that anyone retaining hopes that with the end of QE2 the reserves that hypothetically had been accumulated at US banks would be flipped to purchase Treasurys, has been dead wrong, therefore making the case for QE3 a done deal. In summary, instead of doing everything in its power to stimulate reserve, and thus cash, accumulation at domestic (US) banks which would in turn encourage lending to US borrowers, the Fed has been conducting yet another stealthy foreign bank rescue operation, which rerouted $600 billion in capital from potential borrowers to insolvent foreign financial institutions in the past 7 months. QE2 was nothing more (or less) than another European bank rescue operation!
For those who can't wait for the punchline, here it is. Below we chart the total cash holdings of Foreign-related banks in the US using weekly H.8 data.
Note the $630 billion increase in foreign bank cash balances since November 3, which just so happens is the date when the Fed commenced QE2 operations in the form of adding excess reserves to the liability side of its balance sheet. Here is the change in Fed reserves during QE2 (from the Fed's H.4.1 statement, ending with the week of June 1).
Above, note that Fed reserves increased by $610 billion for the duration of QE2 through the week ending June 1 (and by another $70 billion in the week ending June 8, although since we only have bank cash data through June 1, we use the former number, although we are certain that the bulk of this incremental cash once again went to foreign financial institutions).
So how did cash held by US banks fare during QE2? Well, not good. The chart below demonstrates cash balances at small and large US domestic banks, as well as the cash at foreign banks, all of which is compared to total Fed reserves plotted on the same axis. It pretty much explains it all.
The chart above has tremendous implications for everything from US and European monetary policy, to exhange rate and trade policy, to the current account on both sides of the Atlantic, to US fiscal policy, to borrowing and lending activity in the US, and, lastly, to QE 3.
What is the first notable thing about the above chart is that while cash levels in US and US-based foreign-banks correlate almost perfectly with the Fed's reserve balances, as they should, there is a notable divergence beginning around May of 2010, or the first Greek bailout, when Europe was in a state of turmoil, and when cash assets of foreign banks jumped by $200 billion, independent of the Fed and of cash holdings by US banks. About 6 months later, this jump in foreign bank cash balances had plunged to the lowest in years, due to repatriated fungible cash being used to plug undercapitalized local operations, with total cash just $265 billion as of November 17, just as QE2 was commencing. Incidentally, the last time foreign banks had this little cash was April 2009... Just as QE1 was beginning. As to what happens next, the first chart above says it all: cash held by foreign banks jumps from $308 billion on November 3, or the official start of QE2, to $940 billion as of June 1: an almost dollar for dollar increase with the increase in Fed reserve balances. In other words, while the Fed did nothing to rescue foreign banks in the aftermath of the first Greek crisis, aside from opening up FX swap lines, one can argue that the whole point of QE2 was not so much to spike equity markets, or the proverbial "third mandate" of Ben Bernanke, but solely to rescue European banks!
What this observation also means, is that the bulk of risk asset purchasing by dealer desks (if any), has not been performed by US-based primary dealers, as has been widely speculated, but by foreign dealers, which have the designatin of "Primary" with the Federal Reserve. Below is the list of 20 Primary Dealers currently recognized by the New York Fed. The foreign ones, with US-based operations, are bolded:
BNP Paribas Securities Corp.
Barclays Capital Inc.
Cantor Fitzgerald & Co.
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Daiwa Capital Markets America Inc.
Deutsche Bank Securities Inc.
Goldman, Sachs & Co.
HSBC Securities (USA) Inc.
Jefferies & Company, Inc.
J.P. Morgan Securities LLC
MF Global Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
Mizuho Securities USA Inc.
Morgan Stanley & Co. LLC
Nomura Securities International, Inc.
RBC Capital Markets, LLC
RBS Securities Inc.
SG Americas Securities, LLC
UBS Securities LLC.
That's right, out of 20 Primary Dealers, 12 are.... foreign. And incidentally, the reason why we added the (if any) above, is that since this cash is fungible between on and off-shore operations, what happened is that the $600 billion in cash was promptly repatriated and used by domestic branches of foreign banks to fill undercapitalization voids left by exposure to insolvent European PIIGS and for all other bankruptcy-related capital needs. And one wonders why suddenly German banks are so willing to take haircuts on Greek bonds: it is simply because courtesy of their US based branches which have been getting the bulk of the Fed's dollars in 1 and 0 format, they suddenly find themselves willing and ready to face the mark to market on Greek debt from par to 50 cents on the dollar. And not only Greek, but all other PIIGS, which will inevitably happen once Greece goes bankrupt, either volutnarily or otherwise. In fact, the $600 billion in cash that was repatriated to Europe will mean that European banks likely are fully covered to face the capitalization shortfall that will occur once Portugal, Ireland, Greece, Spain and possibly Italy are forced to face the inevitable Event of Default that will see their bonds marked down anywhere between 20% and 60%. Of course, this will also expose the ECB as an insolvent central bank, but that largely explains why Germany has been so willing to allow Mario Draghi to take the helm at an institution that will soon be left insolvent, and also explains the recent shocking animosity between Angela Merkel and Jean Claude Trichet: the German are preparing for the end of the ECB, and thanks to Ben Bernanke they are certainly capitalized well enough to handle the end of Europe's lender of first and last resort. But don't take our word for this: here is Stone McCarthy's explanation of what massive reserve sequestering by foreign banks means: "Foreign banks operating in the US often lend reserves to home offices or other banks operating outside the US. These loans do not change the volume of excess reserves in the system, but do support the funding of dollar denominated assets outside the US....Foreign banks operating in the US do not present a large source of C&I, Consumer, or Real Estate Loans. These banks represent about 16% of commercial bank assets, but only about 9% of bank credit. Thus, the concern that excess reserves will quickly fuel lending activities and money growth is probably diminished by the skewing of excess reserve balances towards foreign banks."
Which brings us to point #2: prepare for the Bernanke hearings and possible impeachment. For if it becomes popular knowledge that the Chairman of the Fed, despite explicit instructions to enforce the trickle down of "printed" dollars to US banks, was only concerned about rescuing foreign banks with the $600 billion in excess cash created out of QE2, then all political hell is about to break loose, and not even Democrats will be able to defend Bernanke's actions to a public furious with the complete inability to procure a loan. Any loan. Furthermore the data above proves beyond a reasonable doubt why there has been no excess lending by US banks to US borrowers: none of the cash ever even made it to US banks! This also resolves the mystery of the broken money multiplier and why the velocity of money has imploded.
Implication #3 explains why the US dollar has been as week as it has since the start of QE 2. Instead of repricing the EUR to a fair value, somewhere around parity with the USD, this stealthy fund flow from the US to Europe to the tune of $600 billion has likely resulted in an artificial boost in the european currency to the tune of 2000-3000 pips, keeping it far from its fair value of about 1.1 EURUSD. If this data does not send European (read German) exporters into a blind rage, after the realization that the Fed (most certainly with the complicity of the G7) was willing to sacrifice European economic output in order to plug European bank undercapitalization, then nothing will.
But implication #4 is by far the most important. Recall that Bill Gross has long been asking where the cash to purchase bonds come the end of QE 2 would come from. Well, the punditry, in its parroting groupthink stupidity (validated by precisely zero actual research), immediately set forth the thesis that there is no problem: after all banks would simply reverse the process of reserve expansion and use the $750 billion in Cash that will be accumulated by the end of QE 2 on June 30 to purchase US Treasurys.
Wrong.
The above data destroys this thesis completely: since the bulk of the reserve induced bank cash has long since departed US shores and is now being used to ratably fill European bank balance sheet voids, and since US banks have benefited precisely not at all from any of the reserves generated by QE 2, there is exactly zero dry powder for the US Primary Dealers to purchase Treasurys starting July 1.
This observation may well be the missing link that justifies the Gross argument, as it puts to rest any speculation that there is any buyer remaining for Treasurys. Alas: the digital cash generated by the Fed's computers has long since been spent... a few thousand miles east of the US.
Which leads us to implication #5. QE 3 is a certainty. The one thing people focus on during every episode of monetary easing is the change in Fed assets, which courtesy of LSAP means a jump in Treasurys, MBS, Agency paper, or (for the tin foil brigade) ES: the truth is all these are a distraction. The one thing people always forget is the change in Fed liabilities, all of them: currency in circulation, which has barely budged in the past 3 years, and far more importantly- excess reserves, which as this article demonstrates, is the electronic "cash" that goes to needy banks the world over in order to fund this need or that. In fact, it is the need to expand the Fed's liabilities that is and has always been a driver of monetary stimulus, not the need to boost Fed assets. The latter is, counterintuitively, merely a mathematical aftereffect of matching an asset-for-liability expansion. This means that as banks are about to face yet another risk flaring episode in the next several months, the Fed will need to release another $500-$1000 billion in excess reserves. As to what asset will be used to match this balance sheet expansion, why take your picK; the Fed could buy MBS, Muni bonds, Treasurys, or go Japanese, and purchase ETFs, REITs, or just go ahead and outright buy up every underwater mortgage in the US. This side of the ledger is largely irrelevant, and will serve only two functions: to send the S&P surging, and to send the precious metal complex surging2 as it becomes clear that the dollar is now entirely worthless.
That said, of all of the above, the one we are most looking forward to is the impeachment of Ben Bernanke: because if there is one definitive proof of the Fed abdicating any and all of its mandates, and merely playing the role of globofunder explicitly at the expense of US consumers and borrowers, not to mention lackey for the banking syndicate, this is it.
I agree with you 100%. Missed a nice run!
Watch this one tank
PUMPs & dumpS
Red Flagging DANGERS In The Penny Market
May 26, 2011
We've been getting a lot of questions lately regarding our method of making
money on this site and/or our motivation. The answers are simple. We started
this site because we became tired of people stealing from others. There are
far too many schemes going on in the public markets and for some reason or
other the SEC has made them too easy to conduct. These Pump & Dump schemes are
usually conducted by the same players over and over again. These players move
from stock to stock and can miraculously change from becoming experts in the
medical field to suddenly becoming experts in gold mining. How is this
possible? One of our current target investigations has the same group that ran
a natural resources scheme become Chinese importers and real estate developers
and are now running a investment trading platform. How can this identical
group possibly be so diversely talented?
There are many theories out there as to how we make money doing this. Many
have accused us of being shorters in the stocks we feature. We'll say it
again. IT IS IMPOSSIBLE TO SHORT MICROCAP STOCKS UNLESS YOU ARE A MARKET MAKER
AND ANYONE WHO SAYS OTHERWISE IS A LIAR! Others are saying that we sell our
email list. Not true. One ridiculous notion has us attempting to gain your
confidence by "bashing some stocks" and then using that confidence to promote
others. Has anybody ever seen us promote a single stock?
The truth is that we don't make a dime. For now. Eventually, as we roll out
the next version of our website, we will offer advertising albeit not for the
promotion of stocks or the touters themselves. That would be a conflict of
interest. For now, we are developing a following and a subscriber base. And a
reputation for good reporting. And although we have some critics, they are
mostly touters whose business we are jeopardizing. We receive an overwhelming
number of appreciate emails everyday. To those people we say, "You're
Welcome".
Alert:
At least one tout is sending emails promoting IVTW.
We classify this as a pump and dump.
Alert:
At least three paid touts are sending emails promoting IMPN.
We classify this as a pump and dump.
Alert:
At least one tout is sending emails promoting HPGS.
We classify this as a pump and dump.
Continuing Alerts:
FXIT, FRXP, SHOM, NIAS, USOG, HMNC, MBYL, ASPW, SPAG, MFTH, PNGM, HPGS, ECMZ,
WSHE, AVVC, MDFI
Be careful out there!
www.pumpsanddumps.com
My pleasure!
Just received this email:
PUMPs & dumpS
Red Flagging DANGERS In The Penny Market
May 26, 2011
We've been getting a lot of questions lately regarding our method of making
money on this site and/or our motivation. The answers are simple. We started
this site because we became tired of people stealing from others. There are
far too many schemes going on in the public markets and for some reason or
other the SEC has made them too easy to conduct. These Pump & Dump schemes are
usually conducted by the same players over and over again. These players move
from stock to stock and can miraculously change from becoming experts in the
medical field to suddenly becoming experts in gold mining. How is this
possible? One of our current target investigations has the same group that ran
a natural resources scheme become Chinese importers and real estate developers
and are now running a investment trading platform. How can this identical
group possibly be so diversely talented?
There are many theories out there as to how we make money doing this. Many
have accused us of being shorters in the stocks we feature. We'll say it
again. IT IS IMPOSSIBLE TO SHORT MICROCAP STOCKS UNLESS YOU ARE A MARKET MAKER
AND ANYONE WHO SAYS OTHERWISE IS A LIAR! Others are saying that we sell our
email list. Not true. One ridiculous notion has us attempting to gain your
confidence by "bashing some stocks" and then using that confidence to promote
others. Has anybody ever seen us promote a single stock?
The truth is that we don't make a dime. For now. Eventually, as we roll out
the next version of our website, we will offer advertising albeit not for the
promotion of stocks or the touters themselves. That would be a conflict of
interest. For now, we are developing a following and a subscriber base. And a
reputation for good reporting. And although we have some critics, they are
mostly touters whose business we are jeopardizing. We receive an overwhelming
number of appreciate emails everyday. To those people we say, "You're
Welcome".
Alert:
At least one tout is sending emails promoting IVTW.
We classify this as a pump and dump.
Alert:
At least three paid touts are sending emails promoting IMPN.
We classify this as a pump and dump.
Alert:
At least one tout is sending emails promoting HPGS.
We classify this as a pump and dump.
Continuing Alerts:
FXIT, FRXP, SHOM, NIAS, USOG, HMNC, MBYL, ASPW, SPAG, MFTH, PNGM, HPGS, ECMZ,
WSHE, AVVC, MDFI
Be careful out there!
www.pumpsanddumps.com
LOL! What a moron!
Needed: Plain Talk About the Dollar
By CHRISTINA D. ROMER
Published: May 21, 2011
AT a recent news conference, Ben S. Bernanke, the Federal Reserve chairman, was asked about the falling dollar. He parried the question, saying that the Treasury secretary was the government’s spokesman on the exchange rate — and, of course, that the United States favors a strong dollar.
Listening to that statement, I flashed back to one of my first experiences as an adviser to Barack Obama. In November 2008, I was sharing a cab in Chicago with Larry Summers, the former Treasury secretary and a fellow economic adviser to the president-elect. To help prepare me for the interviews and the hearings to come, Larry graciously asked me questions and critiqued my answers.
When he asked about the exchange rate for the dollar, I began: “The exchange rate is a price much like any other price, and is determined by market forces.”
“Wrong!” Larry boomed. “The exchange rate is the purview of the Treasury. The United States is in favor of a strong dollar.”
For the record, my initial answer was much more reasonable. Our exchange rate is just a price — the price of the dollar in terms of other currencies. It is not controlled by anyone. And a high price for the dollar, which is what we mean by a strong dollar, is not always desirable.
Some countries, like China, essentially fix the price of their currency. But since the early 1970s, the United States has let the dollar’s value move in response to changes in the supply and demand of dollars in the foreign exchange market. The Treasury no more determines the price of the dollar than the Department of Energy determines the price of gasoline. Both departments have a small reserve that they can use to combat market instability, but neither has the resources or the mandate to hold the relevant price away from its market equilibrium value for very long.
In practice, all that “the exchange rate is the purview of the Treasury” means is that no official other the Treasury secretary is supposed to talk about it (and even he isn’t supposed to say very much). That strikes me as a shame. Perhaps if government officials could talk about the exchange rate forthrightly, there would be more understanding of the issues and more rational policy discussions.
Such discussions would start with some basic economics. The desire to trade with other countries or invest in them is what gives rise to the market for foreign exchange. You need euros to travel in Spain or to buy a German government bond, so you need a way to exchange currencies.
The supply of dollars to the foreign exchange market comes from Americans who want to buy goods, services or assets from abroad. The demand for dollars comes from foreigners who want to buy from the United States.
Anything that increases the demand for dollars or reduces the supply drives up the dollar’s price. Anything that lowers the demand for dollars or raises the supply causes the dollar to weaken.
Consider two examples. Suppose American entrepreneurs create many products that foreigners want to buy, and start many companies they want to invest in. That will increase the demand for dollars and so cause the dollar’s price to rise. Such innovation will also make Americans want to buy more goods and assets in the United States — and fewer abroad. The supply of dollars to the foreign exchange market will fall, further strengthening the dollar. This example describes very well the conditions of the late 1990s — when the dollar was indeed strong.
Now suppose the United States runs a large budget deficit that causes domestic interest rates to rise. Higher American interest rates make both foreigners and Americans want to buy more American bonds and fewer foreign bonds. Thus the demand for dollars increases and the supply decreases. The price of the dollar will again rise.
This example describes conditions in the early 1980s, when President Ronald Reagan’s tax cuts and military buildup led to large deficits. Those deficits, along with the anti-inflationary policies of the Fed, where Paul A. Volcker was then the chairman, led to high American interest rates. The dollar was very strong in this period.
Both developments — brilliant American innovation and troublesome American budget deficits — caused the dollar to strengthen. Yet one is clearly a positive for the American economy, the other a negative. The point is that there is no universal good or bad direction for the dollar to move. The desirability of any shift in the exchange rate depends on why the dollar is moving.
It also depends on the state of the economy. At full employment, a strong dollar is good for standards of living. A high price for the dollar means that our currency buys a lot in foreign countries.
But in a depressed economy, it isn’t so clear that a strong dollar is desirable. A weaker dollar means that our goods are cheaper relative to foreign goods. That stimulates our exports and reduces our imports. Higher net exports raise domestic production and employment. Foreign goods are more expensive, but more Americans are working. Given the desperate need for jobs, on net we are almost surely better off with a weaker dollar for a while.
Fed policy is determined by inflation and unemployment in the United States. But if Mr. Bernanke could discuss the exchange rate openly, he would probably tell you that one way any monetary expansion helps a distressed economy is by weakening the dollar. That is taught in every introductory economics course, yet the Fed is asked to pretend it isn’t true.
Likewise, fiscal policy is determined by domestic considerations. But trimming our budget deficit, as we should over the coming years, would also weaken the dollar. And that, in turn, would blunt the negative impact of deficit reduction on employment and output in the short run.
STRANGELY, every politician seems to understand that it would be desirable for the dollar to weaken against one particular currency: the Chinese renminbi. For years, China has deliberately accumulated United States Treasury bonds to keep the dollar’s value high in renminbi terms. The United States would export more and grow faster if China allowed the dollar’s price to fall. Congress routinely threatens retaliation if China doesn’t take steps that amount to weakening the dollar.
But in the very next breath, the same members of Congress shout about the importance of a strong dollar. If a decline in its value relative to the renminbi would be beneficial, a fall relative to the currency of many countries would help even more in the current situation.
To say this openly risks being branded not just an extremist but possibly un-American. Perhaps it is time for a more adult conversation. The exchange rate is the purview of market economics, not of the Treasury or strong-dollar ideologues.
Christina D. Romer is an economics professor at the University of California, Berkeley, and was the chairwoman of President Obama’s Council of Economic Advisers.
http://www.nytimes.com/2011/05/22/business/economy/22view.html?_r=2&sq=christina%20romer&st=cse&scp=2&pagewanted=all
I'm sure you are genuinely a good person. That's what irritates the hell out of me. ~peace~
Thanks for the clarification. So, how do Obama's taste? Must be a split second conclusion for you.
Excuse my ignorance. What's the difference between a teabagger and a teabagee?
Call me what you want. I have no affiliation. Just enjoy the banter here. If you want to refer to them as my fellow assholes, good for you. Hope it makes you feel better. It is pretty clear that there is a line drawn between the one's with common sense and the one's without who post on this board. I'll leave it to you to figure out which side of the line you stand on. Good luck with that :)
That's an understatement!
It's called kissing ass. Hoping we'll continue to help prop up their trade dependent economy. They can have him. Nobody semi-intelligent wants him as President anymore.
What's with the constant use of the word teabagger? Do you realize how immature that is? Sorry, dumb question
You may very well be right. If so, fantastic! All I was saying to a few people that would listen, before being called out as a joke, is that there are a couple of people out there(have no clue who they are) that are spending the weekend trying to dig up dirt on this company, and they "hope" to announce their findings tomorrow morning. Maybe they'll come up with nothing and all is well. Maybe they will miss their announcement by the time the market opens. Who knows. But I suspect there are shareholders outside of IHUB who are going to catch word and react accordingly. Hopefully it's a minor blip and there is absolutely nothing to worry about. Think what you'd like but I am completely unbiased.
I don't send out mass mailings. Don't shoot the messenger. As GW Bush said "Fool me once, shame on — shame on you. Fool me — you can't get fooled again"
And I've got some beautiful property for you in Florida right on the gulf coast. You can swim and fish for your dinner every day.
I'm sure there's a perfectly good explanation as to why Osama hadn't released a video in years, strictly audio. Just like I'm sure there's an excellent reason why Obama withheld his long form Birth Certificate for 2 1/2 years with his team spending millions to keep it under wraps.
Ex-ISI Chief Hamid Gul: CIA Has Been "Choreographing The Whole Thing"
Benazir Bhutto: Bin Laden was Murdered years ago
Herman Cain should run for president. Problem solved.