| By
bluejay |
05/14/2012 8:50AM |
How really safe are the banks?
Recently, JP Morgan announced that they had a $2 billion loss in derivatives. Following is an excerpt from Greg Hunter of http://www.USAWatchdog.com:
The only way JP Morgan could “bring down the entire space” is if the entire space was leveraged in ways similar to JP Morgan. Of course, no U.S. bank has more derivative exposure than JP Morgan.
According to the Comptroller of the Currency, JP Morgan has a little more than $70 trillion in total derivative exposure. (4th quarter 2011 OCC report) The next 4 banks have a combined $150 trillion (approximate) in total derivative exposure. I am sure the banks will tell you that this is all hedged (bilaterally netted) to minimize any losses, but we all know how well that strategy worked with AIG, Lehman and MF Global. |
 |
| By
bluejay |
05/11/2012 10:04PM |
When the bankers pushed to get their hands back on investor's money by getting Clinton to sign off on dismandling the Glass Steagall Act it set the stage for unbridled banker greed.
An excerpt from the today's Casey's Dispatch:
"Yesterday, after the market close, JPMorgan announced that a series of synthetic credit trades done by its Chief Investment Office had gone terribly wrong and caused a $2 billion loss.
A "synthetic" trade is another name for a derivative trade, most likely some type of credit default swap. The bank claims that this Chief Investment Office's job is to hedge the bank's overall credit exposures, but that can't be all that it was doing. This office had to be making huge bets on the market in what is nothing more or less than a form of proprietary trading."
This is not what banks were chartered to do.
John Corsine at MF Global decided to take a big position on sovereign debt using margin and took a bath. When it was time to caught up the money for his losses he took customer money that was entrusted to him and gave it to JP Morgan to cover those losses.
New York City is a cesspool of bankers fiddling with public markets and financial corruption. |
|
| By
bluejay |
05/11/2012 9:40PM |
| The president of Sutter Gold lives in my town and is also on the Board of Directors of Agnico-Eagle Mines out of Toronto. The next time I see her at Safeway I'll ask her how she gets along with the State. |
|
| By
martin newkom |
05/11/2012 9:35AM |
Recently a mine operation in
Amador county has "commenced"
operation according to the local
Sacramento Media. It would appear
that company either has a good
repor with local media or has hired a dandy publicist. I think
the Origsix might want to take
note. The Amador Mine gets to
MINE, the Origsix doesn't. I
wonder why? |
|
| By
Rick |
05/09/2012 7:09PM |
And...we won't hear that reported in the "news" any more than we won't hear it reported that the Bam proposed "Buffet Rule" has been widely slammed by Mr. Buffet himself, which he is on record as mischaracterizing his true perspective of taxation increase reaching the extemely etreme rich for whom 100 mill is the launch point.
Yup. No mention of Buffet's remarks in the "media" except those reporting in reality mode....which summarily get dismissed by the clones. |
|
| By
bluejay |
05/09/2012 10:04AM |
Warren Buffett, in a recent interview with CNBC, suggested that he could balance the budget right away.
He said: "I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election." |
|
| By
bluejay |
05/05/2012 8:39AM |
| Below is an excerpt from today's International Forecaster. |
|
| By
bluejay |
05/05/2012 8:37AM |
Government’s attempts to control the people by directly manipulating economic indicators parallel Pavlov’s conditioning of dogs. Pavlov started by ringing a bell whenever his dogs were fed. At first, the dogs only salivated when the actual food was provided. But later, after the dogs had become “conditioned” to “pair” (associate) the presence of food with the ringing bell, the dogs could be made to salivate by merely ringing the bell, even when no actual food was provided.
For the dogs, the ringing bell was an “indicator” similar to the thermometers in our apartments(Do you really control the room temperature by artificialy stimulating the thermometer?) or the government’s reports of GDP, inflation, unemployment and prices. Just as Pavlov’s dogs were conditioned to salivate at the sound of a ringing bell, Americans have been conditioned to borrow and spend currency to purchase cars, homes, equities and commodities (or even to have confidence in the gov-co) by “ringing the bells” called “stock market indices,” “unemployment percentages,” “inflation rates” and “prices”. |
|
| By
bluejay |
05/02/2012 7:16AM |
From http://www.jsmineset.com:
Jim,
Except for the Social Security Trust Fund, the Fed is now the largest holder of Treasury debt.
QE is the only way left to sell the debt. So how can they stop doing it?
Best,
CIGA Hank
Hank,
Once you have started QE in a recession lacking an ebullient economic recovery, you cannot stop QE. It is impractical as the house of trillions of cards will come tumbling down the same day you really stop.
Jim |
|
| By
bluejay |
05/01/2012 11:06AM |
The Primary Owners of the Federal Reserve Bank Are:
Submitted by truth supporter on Sat, 01/03/2009 - 14:07
in Daily Paul Liberty Forum
"The Primary Owners of the Federal Reserve Bank Are:
1. Rothschild's of London and Berlin
2. Lazard Brothers of Paris
3. Israel Moses Seaf of Italy
4. Kuhn, Loeb & Co. of Germany and New York
5. Warburg & Company of Hamburg, Germany
6. Lehman Brothers of New York
7. Goldman, Sachs of New York
8. Rockefeller Brothers of New York
All the primary owners are branches of European establishments. Foreigners control the United States Money supply. |
|
| By
bluejay |
04/26/2012 9:41AM |
The sure way to start the implosion of a civilization is to "deep six" the Rule of Law. Martin Armstrong elaborates:
http://www.martinarmstrong.org/files/Rule%20of%20Law/index.htm |
|
| By
bluejay |
04/24/2012 8:05AM |
The answer to productivity is to repeat what has worked before. Just past midway of the following linked video of the April 22, 2012 Schiff Report it starts to get quite interesting:
http://www.europac.net/media/video_blog/stimulus_high_fading_dollar_gold_history_according_obama |
|
| By
bluejay |
04/22/2012 10:05AM |
The Bankster Gangsters Continue To Maul The Public
https://www.youtube.com/watch?v=CBxBtK-2XJc |
|
| By
bluejay |
04/20/2012 9:40AM |
The following short linked video clearly spells out how the European leaders are becoming quite emboldened from their continuing failures that they are now legally excluding themselves from taking any responsinility for their misguided and awful decisions.
http://www.youtube.com/watch?v=EPcWHBPYOSU |
|
| By
bluejay |
04/12/2012 9:12PM |
Richard Russell recently made these comments:
“If the government does not supply any additional stimulus, but it does supply additional massive QE’s, this will be a long, drawn-out situation, probably not becoming toxic until the years 2015 to 2017. This period will ultimately see pressure on the dollar with an accompanying collapse of stocks and bonds.
Start by buying top-grade dividend-paying stocks -- and gold on dips or corrections, and hold your gold. This era will see the catastrophic collapse of all fiat money. Gold should skyrocket. Get ready for crime and violence.
If the government does provide a large round of stimulus ... (we) will see the end of fiat money and probably a new monetary system and a new governmental system. Europe and Asia will both go through chaos. Immigration to the US will be huge. |
|
| By
bluejay |
04/11/2012 6:40PM |
Is California next in line?
Surprise! You owe another $54 billion
A new report forces the question: How could Illinois pols do this to taxpayers
April 8, 2012
"Previous legislators and previous governors even awarded taxpayer funded health insurance benefits to themselves and 82,000 retirees, where 90 percent of them pay nothing on their insurance premiums. This lack of fiscal accountability has cost us dearly today."
—Gov. Pat Quinn, Feb. 22, 2012
"All told, state government is on pace to spend nearly $1 billion on retiree health care benefits in fiscal year 2013, more than double what it spent in 2003. Worse yet, these liabilities are growing more than twice as fast as tax revenues."
—Illinois Policy Institute, April 9, 2012
The state of Illinois admits to $83 billion in pension underfunding, a staggering weight on today’s and tomorrow’s taxpayers. Add to that the as yet uncalculated billions in unfunded pension obligations for city, county and other local governments. During a Tribune forum Wednesday, Mayor Rahm Emanuel explained how that overhang — some estimates run far higher — deters businesses from locating in Chicago: Companies don’t want to buy shares in a phenomenal tax burden that will unfold over decades. |
|
| By
bluejay |
04/11/2012 4:27PM |
What's up here?
http://www.wnd.com/2012/04/judge-says-obama-approaching-totalitarianism/?cat_orig=health |
|
| By
bluejay |
04/08/2012 9:04AM |
"Big government California lusts after increased tax revenues to continue its unquenchable appetite (addiction?) to redistribute wealth by confiscating it from groups that create jobs and contributes to society and giving it away to those who contribute nothing…"
DirtClod Sac Bee website 6/30/11 |
|
| By
bluejay |
04/02/2012 9:39PM |
"It's just one big party down in DC."
Martin Armstrong
http://www.safehaven.com/article/24880/martin-armstrong-on-the-sovereign-debt-crisis |
|
| By
bluejay |
04/02/2012 8:30PM |
State pensions may be susceptible to reality during bankruptcy. A family member cashed out of Calpers in January of 1999 and went into gold and gold related issues. To me, that was a no brainer.
http://www.nytimes.com/2012/03/17/business/untouchable-pensions-in-california-may-be-put-to-the-test.html?pagewanted=2&_r=3 |
|
|
|
