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Author: Subject: Exploitation of the global economy, the coming collapse
franklyn
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Are we there yet ?

More than $4 trillion was erased from the value of global equities in the first three weeks of this month as concern Greece will abandon the euro deepens. Several of the largest Spainish banks are insolvent wards of the Spanish government soon to be nationalized as has Bankia Group whose stock trading has been suspended. ( this takes a moment to load ) http://www.thestreet.com/video/11554231/the-pain-in-spain-sp... http://www.bloomberg.com/news/2012-05-25/bankia-popular-bank... http://money.cnn.com/2012/05/25/investing/spain-banks/index.... http://soberlook.com/2012/05/spanish-spreads-hit-new-records... You know , when I call these things it's with good reason. http://www.sciencemadness.org/talk/viewthread.php?tid=17281&... Adding to the already dire demand on the national Spanish government , the autonomous province of Catalunia is unable to fund it's debt burden. http://www.cnbc.com/id/47562240 S & P is rating much of Spainish financials as just a cut above garbage. And so it goes _ http://www.cnbc.com/id/47561015 http://buzz.money.cnn.com/2012/05/25/the-euros-parachute-dro... . [Edited on 26-5-2012 by franklyn] hiperion42 Hazard to Self Posts: 74 Registered: 24-8-2009 Location: european mainland Member Is Offline Mood: overwhelmed http://www.youtube.com/watch?v=lDNMjV6sumQ With the peaking of conventional oil extraction there is no prospect anymore for economic expansion and the repayment of the mountains of debt. To be precise there is no longer the illusion of future debt repayment. .....ejuu....................................................................Ffg..............................g............. franklyn International Hazard Posts: 2990 Registered: 30-5-2006 Location: Da Big Apple Member Is Offline @ hiperion42 Somewhat dated analysis from 2005 posted 2008 when that anticipated event occurred , the spot price then dropped from$ 147 to $35. This occurs in generational cycles as the world economy shifts around. Oil has been peaking now for the last 40 years and I expect it to continue to peak for another 40. As Samuel Clemens , alias Mark Twain said " The reports of my death have been greatly exaggerated." by those that believe there is a readable dipstick in the earth , and everyone reports ' reserves ' honestly. I vividly recall back when the " OPEC ' Arab ' oil embargo ", was instigated and brought to everyone by those un-named bankers. These days it's Global Warming and the Green and Sustainable instigated mandates that seek to modulate the oil market. Not so different from the legal challenges mounted against the greater use of nuclear power. Read the prolific forum posts on this subject by Rosco Bodine http://video.foxbusiness.com/v/1656952829001 . [Edited on 27-5-2012 by franklyn] hiperion42 Hazard to Self Posts: 74 Registered: 24-8-2009 Location: european mainland Member Is Offline Mood: overwhelmed  Quote: Originally posted by franklyn This occurs in generational cycles as the world economy shifts around. Oil has been peaking now for the last 40 years and I expect it to continue to peak for another 40. "So here we are in 2005 and all the people who dismiss the peak oil argument say it's just like the early 1970's..." jump in @ 07:54 http://www.youtube.com/watch?v=u8BJUWKZKHM  Quote: Originally posted by Rosco Bodine It surely isn't just peak oil that is a concern, but peak oil illustrates a limiting general principle involving all other finite resources utilization as well. [Edited on 6-4-2012 by Rosco Bodine] I see solid grounds for arguing peak oil being a lot more than just an illustrator for dwindling resources. The peak of oil discoveries was way back in the 1960's. The average age of the top 14 super giant oil fields which account for over 20% of the world's daily oil supply is 43 years. "Saudi Aramco is injecting a staggering 7 million barrels of sea water per day back into Ghawar, the world's largest oilfield, in order to prop up pressure. It accounts for 30% of Saudi oil reserves and up to 70% of daily output." Aberdeen Press & Journal Energy, April 5, 2004, p. 15 http://www.energybulletin.net/stories/2012-04-24/update-glob... http://www.youtube.com/watch?v=cPKLKWIh3gA [file]18862[/file] [file]18863[/file] [Edited on 27-5-2012 by hiperion42] Attachment: Simmons GiantOilFields.pdf (323kB) This file has been downloaded 555 times Attachment: Giant oil field decline rates.pdf (655kB) This file has been downloaded 270 times .....ejuu....................................................................Ffg..............................g............. Goorlap Harmless Posts: 29 Registered: 15-11-2011 Member Is Offline  Quote: Originally posted by franklyn More than$4 trillion was erased from the value of global equities in the first three weeks of this month as concern Greece will abandon the euro deepens.

It's getting inevitable, greece leaving europe ...

Life is short. Enjoy it
Vogelzang
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I remember waiting in gas lines in the 70's. Back then I wasn't too worried. After I took P. Chem. in the early 80's I thought more about peak oil and was afraid of it ever since. I talked to a lot of people over the years and found there were basically two types; one had a background in life sciences or engineering and understood what I was talking about and the second didn't have this background and tended to deny there was a problem and usually insisted that there would be something else. When asked what this something else was, they usually say they don't know, but there will be something else. One liberal arts major lost his temper at me once when I tried to discuss it with him. I thought the libtard was going to get violent.
Vogelzang
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Vote Republican!

Who's to Blame for High Gas Prices?

Share Post PrintJune 6, 2008 Posted by John at 4:43 PM
For several decades, the Democratic Party has pursued policies designed to drive up the cost of petroleum, and therefore gas at the pump. Remarkably, the Democrats don't seem to have taken much of a political hit from the current spike in gas prices. Probably that's because most people don't realize how different the two parties' energy policies have been.

Congressman Roy Blunt put together these data to highlight the differences between House Republicans and House Democrats on energy policy:

ANWR Exploration House Republicans: 91% Supported House Democrats: 86% Opposed

Coal-to-Liquid
House Republicans: 97% Supported
House Democrats: 78% Opposed

Oil Shale Exploration
House Republicans: 90% Supported
House Democrats: 86% Opposed

Outer Continental Shelf (OCS) Exploration
House Republicans: 81% Supported
House Democrats: 83% Opposed

Refinery Increased Capacity
House Republicans: 97% Supported
House Democrats: 96% Opposed

SUMMARY

91% of House Republicans have historically voted to increase the production of American-made oil and gas.

86% of House Democrats have historically voted against increasing the production of American-made oil and gas.

PAUL adds: It's useful to keep this sort of thing in mind when we hear (on something like a daily basis these days) that the Republicans have run out of ideas or that Republican ideas didn't work. The truth is that most major Republican ideas weren't tried because the Democrats blocked them. Increasing the domestic production of oil and gas (a move so obvious it barely meets the standard for being an idea) is hardly the only example. Social security reform and school choice also come quickly to mind. Republican-backed policies for increasing the number of Americans with health insurance were also blocked by Democrats. And so forth.

http://web.archive.org/web/20090327144836/http://www.powerli...

http://www.powerlineblog.com/archives2/2008/06/020696.php

The Population Control Racket -- Why Environmentalists Perpetrate Frauds, and Propose Killing People

http://american_almanac.tripod.com/poppt.htm

[Edited on 28-5-2012 by Vogelzang]
anotheronebitesthedust
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Germany seems to have taken a leadership role in regards to solar power:
 Quote: http://www.reuters.com/article/2012/05/28/climate-germany-so... German solar power plants produced a world record 22 gigawatts of electricity - equal to 20 nuclear power stations at full capacity
franklyn
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Current events

http://www.telegraph.co.uk/finance/comment/ambroseevans_prit...

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/...

____________________________________________

If the establishment is to be believed — it is in the interest of “ long term financial stability”
that creditors who speculatively bought unredeemable debt don’t take the loss as they would
in a free market. That it is also in the interest of “ long term financial stability” that banks
that made reckless decisions don’t go out of business as they would in a free market , but
instead become suckling zombies attached to the taxpayer teat. Apparently it also is in the
interest of “ long-term financial stability” that a broken regulatory system doesn’t liquidate a
broken market so the gamblers are cleared out. Apparently our “ long-term financial stability”
depends on producing ever greater fiscal hazard by handing more money out to the
negligent and irresponsible , but politically well connected.

http://www.zerohedge.com/news/bill-buckler-no-freedom-no-mon...

In 1347 the Black Death swept away medieval Europe and ushered in the Renaissance.
The equivalent financial Black Death of never acknowledging fiscal red ink , will sweep
away the " New World Order " into the trash heap of history.

_____________________________________________

@ Vogelzang

It makes sense in the long term to consume foreign produced petroleum ahead of
domestic sources, ensuring freedom from future dependence on an ever diminishing
appreciating foreign commodity.

.
hiperion42
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 Quote: Originally posted by franklyn It makes sense in the long term to consume foreign produced petroleum ahead of domestic sources, ensuring freedom from future dependence on an ever diminishing appreciating foreign commodity.

Iraq war leaves 100 000's death.
Just to provide some back lighting to your comment.

.....ejuu....................................................................Ffg..............................g.............
Vogelzang
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The Democrats tricked Bush into going to war with Iraq.

Dominic Lawson: Democrat fingerprints are all over the financial crisis
http://www.independent.co.uk/opinion/commentators/dominic-la...

How the Democrats Created the Financial Crisis: Kevin Hassett
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a...

Democrat Quotes on Iraq Weapons of Mass Destruction

"One way or the other, we are determined to deny Iraq the capacity to develop weapons of mass destruction and the missiles to deliver them. That is our bottom line."
--President Bill Clinton, Feb. 4, 1998

"If Saddam rejects peace and we have to use force, our purpose is clear. We want to seriously diminish the threat posed by Iraq's weapons of mass destruction program."
--President Bill Clinton, Feb. 17, 1998

"Iraq is a long way from [here], but what happens there matters a great deal here. For the risks that the leaders of a rogue state will use nuclear, chemical or biological weapons against us or our allies is the greatest security threat we face."

"He will use those weapons of mass destruction again, as he has ten times since 1983."
--Sandy Berger, Clinton National Security Adviser, Feb, 18, 1998

"We begin with the common belief that Saddam Hussein is a tyrant and a threat to the peace and stability of the region. He has ignored the mandate of the United Nations and is building weapons of mass destruction and th! e means of delivering them."
-- Sen. Carl Levin (D, MI), Sept. 19, 2002

"We know that he has stored secret supplies of biological and chemical weapons throughout his country.
Poison gas and biological weapons were found in Iraq. Sadam used poison gas on the Kurds and against Iran."
-- Al Gore, Sept. 23, 2002

"Iraq's search for weapons of mass destruction has proven impossible to deter and we should assume that it will continue for as long as Saddam is in power."
-- Al Gore, Sept. 23, 2002

"We have known for many years that Saddam Hussein is seeking and developing weapons of mass destruction."
-- Sen. Ted Kennedy (D, MA), Sept. 27, 2002

"The last UN weapons inspectors left Iraq in October of 1998. We are confident that Saddam Hussein retains some stockpiles of chemical and biological weapons, and that he has since embarked on a crash course to build up his chemical and biological warfare capabilities. Intelligence reports indicate that he is seeking nuclear weapons..."
-- Sen. Robert Byrd (D, WV), Oct. 3, 2002

"I will be voting to give the President of the United States the authority to use force -- if necessary -- to disarm Saddam Hussein because I believe that a deadly arsenal of weapons of mass destruction in his hands is a real and grave threat to our security."
-- Sen. John F. Kerry (D, MA), Oct. 9, 2002

"There is unmistakable evidence that Saddam Hussein is working aggressively to develop nuclear weapons and will likely have nuclear weapons within the next five years ... We also should remember we have always underestimated the progress Saddam has made in development of weapons of mass destruction."
-- Sen. Jay Rockefeller (D, WV), Oct 10, 2002

"He has systematically violated, over the course of the past 11 years, every significant UN resolution that has demanded that he disarm and destroy his chemical and biological weapons, and any nuclear capacity. This he has refused to do"
-- Rep. Henry Waxman (D, CA), Oct. 10, 2002

[Edited on 29-5-2012 by Vogelzang]
hyfalcon
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Yep, If you're a politician, except for a few examples, then you are part of the problem with this country. I keep waiting for the western Canary island to do it's thing. Then maybe we can hit the reset button.
franklyn
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@ hiperion42

Regarding Matt Simmons discourse here _

The amount of oil remaining in depleted wells is at least equal to what has been
produced worldwide since 1850. It is not cheaply recoverable with applications
now available for it's continued production and so these are just abandoned
until such time that necessity and profit incentive prevails.

The speaker's comment that Iran's production has gone down from a high of
6 million to 3 million barrels per day , casually omits the fact of a concerted
effort by some western powers to restrict availability of materials necessary
for rebuilding their decaying industrial infrastructure which is the sole cause.
This I liken to auto-erotic strangulation , gratifying as it be it is no less perverted.

The truth of petroleum is that those who talk knowingly of it don't know in fact
what they claim , and those that have a very good idea don't ever say it.

__________________________

" Iraq war leaves 100 000's death.
Just to provide some back lighting to your comment."

To put this in it's proper context , as with the example of Iran , after two wars
in Iraq the destruction of it's petroleum infrastructure has reduced it's production
to a fraction of what it had been under Sadam Hussein. As by Shakespeare's
Hamlet , " The lady doth protest too much, methinks."

.
hiperion42
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 Quote: Originally posted by franklyn @ hiperion42 The truth of petroleum is that those who talk knowingly of it don't know in fact what they claim , and those that have a very good idea don't ever say it.

The IEA itself! admitted in it's 2010 IEA World Energy Outlook executive summary
that conventional crude oil production/extraction peaked in 2006.

http://www.energybulletin.net/stories/2010-11-11/iea-acknowl...

From ASPO NEWSLETTER No 15 – MARCH 2002
subsection 35. The Nemesis report

"In 1975, the US Lower-48 produced 7 million b/d of crude. By 2000, production
had fallen to just under 3.5 million b/d. Despite maximum financial incentives,
the finest technology in the world and a complete openness to innovation,
the US has been unable to slow, never mind reverse, this 2%/year production
decline. Is there any reason to think the world will fare any better once peak is passed?"

The Nemesis Report (scroll halfway down)

[file]18887[/file]

[Edited on 30-5-2012 by hiperion42]

.....ejuu....................................................................Ffg..............................g.............
franklyn
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6.66 % - Current yield on Spanish 10 year debt.

6.16 % - Current yield on Italian 10 year debt , here we go again.

1.67 % - Current yield on British 10 year debt.

1.63 % - Current yield on U.S. 10 year debt , a new low record.

1.31 % - Current yield on German 10 year debt.

0 % - Current yield on German 2 year debt.

(- 0.62 ) Negative yield on Swiss 3 month bill , that's right , you pay them to hold your money.

The €uro is trading below $1.24 as the money supply is shrinking , you can't make this stuff up , monetary theory turned upside down. http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/... U.S. 30 year treasury yield is now 2.71 % iShares 20+ Year Treasury Bond Fund passed it's record high , up over$ 3 from yesterday.

There is a lot of scared money out there , amazingly there are still people in denial , maybe smoking bath salts ?
http://seekingalpha.com/article/624881-what-euro-crisis

For those of you who love conspiracy
http://www.telegraph.co.uk/finance/newsbysector/banksandfina...

Great timing , here comes the death knell.
Tommorrow 31 May is the Irish referendum on Euro zone ‘ Fiscal Compact ’. The
concern is the still high level of undecided voters. A ‘ No ’ to the referendum could
compromise Ireland’s access to ESM funding should a second loan programme be
required. Although a second referendum is a theoretical possibility ( Ireland has a
history of rejecting EU referenda before accepting ), taking away the safety net
could be a significant blow to Irish bonds.
http://blogs.telegraph.co.uk/news/danielhannan/100161609/the...

Funny video that.

_____________________________

@ hiperion42

Those reports say nothing regarding the motives for producing less. Don't confuse can't with won't.

.

[Edited on 30-5-2012 by franklyn]
DerAlte
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Mood: Disgusted

Franklyn, excellent post, you saved me the trouble this time.

I hear the crackle of newly minted Deutch Marks and the sad sound of floppy tissue paper with ΔΡΑΧΜΑ printed thereon. Who would think that the £ (no longer sterling) could become a safe haven currency? There aren’t any safe havens. Gold was up 1% - about the same as the Eur drop, which suggests frantic European (and Asian) buying. Crude below $88. When politicians create currencies instead of market forces, farce is the order of the day. The CHF is in rigid lockstep with the Euro at 1.2 Eur/CHF. Expect parity with the$ soon. Prices in Switzerland are still ridiculous.

In real life if you they let you join the country club and don’t pay your dues the bouncer throws you out. It is time that Europe ‘got a life’ as the saying goes. But they prefer welfare from richer countries if they can get away with it. All this fuss about an economy that is #39 in the world with only a minute trade with the US (probably in olive oil and figs – the only industry with any size is shipping and only the owners make the money).

Your put on the US Treasuries is looking good. You can now trade put options on FarceBbook if you want (FB, down a further 2.3% with a p/e of only 90).

What Investors Can Expect If Greece Leaves Euro Zone (Reuters)
http://www.cnbc.com/id/47617621
Der Alte
Jimbo Jones
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It’s funny to see people who discuss the fire in the neighbors, when their own roof is on freaking fire. Today the word money doesn’t means anything. We trade with oil, food and technologies. Think about it!

AndersHoveland
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There might be other reasons the American economy is never going to be as good as it was . . .

http://en.wikipedia.org/wiki/IQ_and_the_Wealth_of_Nations

The world is experiencing unprecedented migrations of people, it will be interesting to see how that affects regional prosperity.

There can be much biological variability between different geographically isolated populations of the same species.

A clear example of this can be observed in switchgrass (Panicum virgatum). While actually a single species, switchgrass comes in many different varieties, with striking differences between the different types. This genetic diversity reflects the divergent evolution and adaptation to a wide range of different environments. The different varieties of switchgrass can generally be grouped into two distinct forms: the lowland cultivars and the upland cultivars.

The lowland variety tends to produce more biomass, and grow up to 2.7 meters high in favorable environments. The upland variety is generally of more northern origin, and is more cold-tolerant. Upland switchgrass types are generally shorter, less than 2.4 meters in height, and less coarse than lowland types. The upland types tend to have more vigorous rhizomes so they tend to be more sod-forming, whereas the the lowland cultivars may appear to have a bunchgrass habit. Lowland cultivars appear more plastic in their morphology, produce larger plants if stands become thin or when planted in wide rows, and they seem to be more sensitive to moisture stress than upland cultivars.

One study mentions potential negetive effects on native varieties on switchgrass caused by outbreeding depression, which could be a cause for concern.
"Gene flow matters in switchgrass, a potential widespread biofuel feedstock", Charles Kwit, C. Neal Stewart. Department of Plant Sciences, University of Tennessee, Knoxville, Tennessee; and BioEnergy Science Center, Oak Ridge National Laboratory, Oak Ridge, Tennessee

"The potential for genetic pollution has been investigated in switchgrass..."
"Appropriate Use of Genetic Manipulation for the Development of Restoration Plant Materials", T. A. Jones, J. G. Robins, Progress in Botany, Volume 72, Part 5, p 249-264, 2011

Or perhaps different human populations will speciate into different economic niches like different Warblers in the same tree. (contrary to some sources, the Cape May, Yellow-rumped, Black-throated Green, Blackburnian, and Bay-breasted Warblers are all members of the same species)
http://goose.ycp.edu/~kkleiner/envbio/envimages/L11Popgrowth...
I think this phenomena may already be vissible in America. For example, people of jewish ethnicity are far more likely to enter careers in the media, finance, medicine, and psychology than other ethnic groups. Individuals who self identify as jewish, chinese, japanese, or korean in ethnicity make up less than 5 percent of the total USA population, yet make up over 50 percent of the students in the country's elite universities. Even if it is not genetic, divergent speciation could still be taking place through cultural evolution.

[Edited on 31-5-2012 by AndersHoveland]
franklyn
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[file]18905[/file]

2.52 % - U.S. 30 year debt yield , record low , Jun 1

1.46 % - U.S. 10 year debt yield, record low , Jun 1

1.58 % - UK 10 year debt yield

1.2 % - German 10 year debt yield

(- 0.26 ) - Swiss 2 year debt ( negative ) yield

(- 0.62 ) - Swiss 3 month bill ( negative ) yield

iShares 20+ Year Treasury Bond Fund gained another $2.50 today reaching$ 129 but gave back $1.50 in later trading. The fund was capitalized at just under$ 3 billion a few weeks ago , it is now just under $4 billion. Call options are up 8 X. Deposit withdrawals accelerating in Spain. http://www.cnbc.com/id/47632113 http://www.telegraph.co.uk/finance/financialcrisis/9303035/C... http://www.telegraph.co.uk/finance/financialcrisis/9301270/S... Harry Dent expects a near-term market selloff followed by a rally due to another round of quantitative easing into the presidential election. After that, Dent sees a market peak in 2013 or 2014 and then another crash. The market usually peaks in the 4th year of a presidential cycle, then turns down in the first year bottoming in October of the 2nd year, 2014. http://www.marketwatch.com/story/harry-dent-sees-germany-lea... So much for this peak http://www.bloomberg.com/news/2012-05-31/oil-set-for-biggest... http://www.bloomberg.com/news/2012-05-31/woman-who-couldn-t-... The gist of this is that Citicorp was bailed out with tens of billions after going bust on mortgages it knowingly bought in violation of U.S. mortgage regulations , plead nolo contender to the civil suite paying back just a$158 million fine. That's not a slap on the wrist ,
that's jacking them off !

.

[Edited on 1-6-2012 by franklyn]

497
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So buy some time this summer and sell some time near the election? Is that a reasonable thing to take from this? It seems like the chances of things being propped up at least till then are very high, at least in the US.

I thought this was entertaining http://money.cnn.com/2012/03/13/pf/doomsday-cost/

It's subtle, but it almost seems like the author is implying that such preparations are futile... It's interesting how the "all or nothing" attitude seems to be encouraged, eg "Well if the economy collapses and millions of starving zombie like people are wandering around, then I'm screwed no matter what, unless I have a spare $100k to drop on a bunker." I guess one thing is for sure, the average "self preservation instinct" level of the surviving population post collapse will be 100 times greater than currently... Makes me wonder how the average westerner has such a low level of self preservation instinct in the first place? Maybe that could be the root of our vast array of self destructive tendencies? An ideal slave has 0 self preservation instinct. How do people actually think an empire largely built by slaves could truly give up slavery when changing the definitions/methods of slavery is sooo much easier? For that matter, has any empire ever existed without extensive (not specifically physical) slavery? http://www.alternatehistory.com/discussion/showthread.php?t=... And the greatest technological revolution allowing very low self preservation instinct slaves: organized religion. I don't think that was anywhere near the original intention of the early founders/prophets, quite the opposite in fact. Technology goes both ways though... Creating money out of thin air might be the runner up for effective means of enslaving without chains? At least while it still holds the illusion of value. A word to the wise: NEUROFEEDBACK http://citizenworks.org/corp/dg/s2r1.pdf http://www.newscientist.com/mobile/article/mg21228354.500-re... http://www.shadowstats.com/article/no-414-hyperinflation-spe... "To expose a 15 Trillion dollar ripoff of the American people by the stockholders of the 1000 largest corporations over the last 100 years will be a tall order of business." Buckminster Fuller "No problem can be solved from the same level of consciousness that created it." Albert Einstein dann2 International Hazard Posts: 1523 Registered: 31-1-2007 Member Is Offline Ye old survivalist stuff is the same old, same old....... Meanwhile Ireland says: &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp YES &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbspYES &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp &nbsp YES DerAlte International Hazard Posts: 779 Registered: 14-5-2007 Location: Erehwon Member Is Offline Mood: Disgusted Here’s an article to back up Dann2’s exuberance. http://www.telegraph.co.uk/news/worldnews/europe/ireland/930... The Irish seem alone to be prepared to weather austerity. It is in the national character. Correction: In my last post I slipped up: it should have said ‘call option’ on the US Treasuries, of course. But for FB, down 5+% today, put, put, put. US 10-Year Yield Sinks Below 1.5% on Weak Jobs Data: http://www.cnbc.com/id/47643013 Re the Eurobond idea, et alia: German Bund Prices to Fall 35% on Euro Zone Resolution: Pro http://www.cnbc.com/id/47642448 But there is no sign of any cogent action yet. Germany has by far the best economy in Europe and the largest. Whatever happens, it seems to me a lose-lose situation for them, and also for the US and everyone else ultimately. The proverbial situation between a rock and a hard place. If the Greek situation can cause this much trouble, think how much more important Spain is. And behind Spain lies Italy on the back burner. The FX market reflected the poor US jobs data instantly, but in a fairly muted fashion. Gold spiked, hardly a surprise, and oil slumped. Bill Gross Of Pimco feels that the US has to go for QE3. But what would QE3 be? Another paper generating machine or indigestion by the Treasury on absorbing its own bonds? Time Bomb? Banks Pressured to Buy Government Debt http://www.cnbc.com/id/47633576 Der Alte [Edited on 1-6-2012 by DerAlte] franklyn International Hazard Posts: 2990 Registered: 30-5-2006 Location: Da Big Apple Member Is Offline @ DerAlte Yes I saw all of those articles. Things are happening quickly now. It's all downhill from here. http://video.cnbc.com/gallery/?video=3000093657 http://money.cnn.com/data/fear-and-greed iShares 20+ Year Treasury Bond Fund closed for the week over$ 130
Calls are up now 10 X

http://video.cnbc.com/gallery/?video=3000093567

An astute blogger has an intriguing observation about China from his ethnic perspective.

What's the risk of capital flight in China ?
" There are signs that the Chinese business elite is losing confidence in China,
which could result in a disastrous run on their RMB (currency).

the wealthiest 1% households in China commands wealth that is at least as
large as 2/3 of the foreign exchange reserve and possibly as high as nearly
twice its size.

Thus, if the top 2.1 million households in a nation of 1.3 billion people decide
to move even 30% of their wealth overseas, the foreign exchange reserve
will reduce by a trillion dollars or more."

U.S. Treasury bonds anyone ?

Quoted from here _
http://humblestudentofthemarkets.blogspot.com/2012/05/whats-...

Reality
http://www.zerohedge.com/news/chinese-bank-run

There is something to be said for plain old new money creation , U.S. money supply is shrinking.
http://ycharts.com/indicators/velocity_mzmv_money_stock

A little economic hardship does not compare to natural disasters.
This could ruin your whole day , just you wait , you think it's hard to get a cab now.
http://www.independent.co.uk/news/science/supervolcanoes-tha...

.

[Edited on 2-6-2012 by franklyn]
dann2
International Hazard

Posts: 1523
Registered: 31-1-2007
Member Is Offline

___________________________________________
There is virtue in hardship
___________________________________________

Is QE any different (at the end of the day) from 'wealth creation' practiced by banks and financial institutions and ultimately the politicians. The QE is barefaced and therefor somewhat more honest.

I learned today that China and Japan are now going to trade with one another without using the US Dollar.
This piece of info. made me laugh. To think that Japan and China HAD NOT traded with one another using their own currencies before now seems incredible!

Dann2

[Edited on 1-6-2012 by dann2]
franklyn
International Hazard

Posts: 2990
Registered: 30-5-2006
Location: Da Big Apple
Member Is Offline

@ damn2

" There is virtue in hardship "
______________________

I'm sure Jesuits would take issue with Franciscans over that.

In the film Ben Hur , Jack Hawkins said to Charlton Heston as an oarsman of the
Roman galley , " I see hatred in your eyes 41 , that's good , hatred keeps a man
alive. Row well and live. "

_______________________________________
_______________________________________

@ 497

" So buy some time this summer and sell some time near the election ?
Is that a reasonable thing to take from this ? "

Regarding market timing , I defer to quoting Bernard Baruch.

" Don't try to buy at the bottom and sell at the top. It can't be done except by liars."

" If a speculator is correct half of the time, he is hitting a good average. Even being right
3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his
losses quickly on the ventures where he is wrong."

" Nobody ever lost money taking a profit."

http://money.cnn.com/2012/06/01/news/economy/american-millio...

_____________________________________________

http://www.scribd.com/doc/95493792/The-End-Game

Inside the white rectangle that says Shanghai May 2012
click on the lower rectangular icon at the right side to
view this full screen. Scroll at the right also.

.

[Edited on 2-6-2012 by franklyn]
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