AMeRiCaN
LeHMaN 2013... Posted by:
williambanzai7
Post date:
09/16/2013 - The Lord Works in Mysterious Ways...
Submitted by williambanzai7 on
09/16/2013
.
The Law demands that we atone
When we take things that we don't
own;
But leaves the lords and ladies
fine
Who take things that are yours and
mine...
Anonymous, circa 1764
.
.
BLUE SAVAGE 1
.
BLUE SAVAGE 2
.
.
Support Your Local Visal Combat
Artist
WilliamBanzai7 Fine Art Prints
Inquiries: [email protected]
As
we approach the 100 year anniversary of the creation of the Federal Reserve, it
is absolutely imperative that we get the American people to understand that the
Fed is at the very heart of our economic problems. It is a system of
money that was created by the bankers and that operates for the benefit of the
bankers. The American people like to think that we have a "democratic
system", but there is nothing "democratic" about the Federal
Reserve. Unelected, unaccountable central planners from a private central
bank run our financial system and manage our economy. There is a reason
why financial markets respond with a yawn when Barack Obama says something
about the economy, but they swing wildly whenever Federal Reserve Chairman Ben
Bernanke opens his mouth. The Federal Reserve has far more power over the
U.S. economy than anyone else does by a huge margin. The Fed is the biggest Ponzi
scheme in the history of the world, and if the American people truly
understood how it really works, they would be screaming for it to be abolished
immediately. The following are 25 fast facts about the Federal Reserve
that everyone should know... (Read More....)
The
more things change, the more things stay the same. The Great Depression
actually started in 1929, but as you will see below, as late as 1933 the
Associated Press was still pumping out lots of news stories with optimistic
economic headlines and many Americans still did not believe that we were
actually in a depression. And of course we are experiencing a very similar
thing today. The United States is in the worst financial shape that it has ever
been in, our economic infrastructure is being systematically gutted, and poverty is absolutely exploding. Since the stock
market crash of 2008, the Federal Reserve has been wildly printing money and
the federal government has been running trillion dollar deficits in a desperate
attempt to stabilize things, but in the process they have made our long-term
economic problems far worse. It would be hard to overstate how dire our
situation is, and yet the mainstream media continues to assure us that
everything is just fine and that happy days are here again. (Read More....)
How bad does it have to get before we admit
that America is an absolute cesspool of filth and wickedness? The
horrific Navy Yard shooting that took
place on Monday is yet another reminder that the thin veneer of civilization
that we all take for granted is rapidly disappearing. At this point,
nobody is fully safe anywhere in the United States at any time. Sadly,
the Navy Yard shooting was far from an isolated incident. Every day,
there are news reports that detail some of the most heinous crimes that you
could possibly imagine. In this article, you are going to read about
incredibly disturbing things that sickos have done to animals, young children
and elderly Americans. The goal is not to entertain you. Rather, I
hope to spark a discussion about the moral collapse of America. The
United States has become a nation of perverts, sickos and psychopaths, and we
need to ask ourselves some very honest questions about why this is
happening. No matter what other solutions we may come up with politically
and economically, this country is not going to have any kind of a future unless
we are able to address the moral decay that is rotting the foundations of this
nation at an absolutely astounding pace. (Read More.....)
I
am no constitutional scholar, but... Posted by :
hedgeless_horseman Post date:
09/16/2013 - ...the right of the people to keep and
bear Arms, shall not be infringed. ...except in New York, Washington, D.C.,
Chicago, Colorado, California, etc.?
Mega
Putin Rich Posted by:
Pivotfarm Post date:
09/16/2013 - If Vladimir Putin and Barack Obama can
get through their tiff over Bachar al-Assad and stop pulling the
covers to their own side of the geopolitical bed, then the Russian leader may
just up...
Submitted
by Tyler
Durden on 09/16/2013 -
Below
is the latest summary of today's tragic mass shooting at the Washington Navy
Yards which has led to 13 deaths so far.
Submitted
by Tyler
Durden on 09/16/2013 - 20:43
The
number whispered on Wall Street is $10 billion (or
$14-$15 if you ask The Saudis), but potential investors in the
micro-blogger’s IPO will need more to go on than simple valuation math and
guided judgment. As ConvergEx's Nick Colas notes, Tech firms are
particularly dependent on innovation and human capital for their viability. So
while Twitter may come out with a double-digit billion dollar IPO, Colas points
out the most important question – Is it actually worth buying there?
The bottom line to the success of thriving tech companies (historically names
such as Amazon, Google and Apple) is that they consistently and reliably build
products that people want to purchase and use. Colas explores multiple
avenues to determine whether Twitter has the engine to do this, or whether it
could emerge more “Groupon” than “Google” in the public company tech arena –
and the answer lies in how you weigh the pros and cons of our top 10
points related to the social network’s IPO.
Submitted
by Tyler
Durden on 09/16/2013 - 20:12
Amid
the 100 year anniversary of the creation of the Federal Reserve, it is
absolutely imperative that the American people understand that the Fed
is at the very heart of our economic problems. It is a system of
money that was created by the bankers and that operates for the benefit of the
bankers. The American people like to think that we have a
"democratic system", but there is nothing "democratic" about
the Federal Reserve. Unelected, unaccountable central planners from a
private central bank run our financial system and manage our economy.
There is a reason why financial markets respond with a yawn when Barack Obama
says something about the economy, but they swing wildly whenever Federal
Reserve Chairman Ben Bernanke opens his mouth. The Federal Reserve has
far more power over the U.S. economy than anyone else does by a huge
margin. The Fed is the biggest Ponzi
scheme in the history of the world, and if the American people truly
understood how it really works, they would be screaming for it to be abolished
immediately. The following are 25 fast facts about the
Federal Reserve that everyone should know...
Submitted
by Tyler
Durden on 09/16/2013 - 19:48
Now
the Apple-Gold
relationship is just getting silly...
Submitted
by Tyler
Durden on 09/16/2013 - 19:26
Seth
Klarman's Baupost Group will be returning money to investors at year-end.
As II Alpha reports, though the amount has yet to be determined, this would be
only the second time the hedge fund has returned money in the firm's 31-year
history. With the world of asset managers, as we
recently noted, increasingly become herd-like beta-chasers, it seems
Klarman - just as he
noted earlier in the year - will return capital unless investment
opportunities dramatically increased - and that hasn't happened.
Submitted
by Tyler
Durden on 09/16/2013 - 18:52
No,
it wasn't Larry Summers...
Submitted
by Tyler
Durden on 09/16/2013 - 18:35
Until now, there was mostly speculation
and conjecture that among the Syrian "rebel" parties assisted by the
Obama administration and the west in their attempt to overthrow Assad, are
various groups either supported or comprising of factions consisting of Al
Qaeda, Jihadists and other extremist Islamic group. That speculation is now
fact according to extracts from a British defense study published in Monday's
Daily Telegraph, according to which Jihadists and members of hardline
Islamist groups make up almost half of forces fighting against Syrian President
Bashar al-Assad. As AFP reported, the analysis by defense consultancy
IHS Jane's, due to be published in full later this week, puts the number of
rebel forces at around 100,000. And half of this number are combatants on an
ideological crusade against the west, who are partially or fully affiliated
with Al Qaeda, and who will always seek a sponsor when carrying out whatever
military operation is most profitable at any given moment. With Made In The
USA weapons that is.
Submitted
by Tyler
Durden on 09/16/2013 - 18:12
We
have discussed
RINs a number of times in the past year - pointing out the surge in the price
of these ethanol credit-related derivatives and how they are the gas-market's
four-letter word. As we explain below, the
NY Times notes that the recent surge in the price of this little-known
financial instrument - which was in large part responsible for the rise in the
price of gas at the pump - could have been manipulated by JPMorgan's alleged
stockpiling. As they note, the market in ethanol credits is exactly the
kind Wall Street loves: opaque, lightly regulated and potentially very
lucrative; and the ability for a major player to build a stockpile of these
credits (effectively cornering the market) is relatively straightforward given
the lack of detailed regulation. As Senator Thomas A. Coburn,
Republican of Oklahoma, notes "When you see something change as
rapidly as this, somebody’s hoarding them, somebody’s buying them, somebody’s
making big bucks."
Submitted
by Tyler
Durden on 09/16/2013 - 17:34
First,
Summers steps away; Second, Geithner politely declines; and now - just as his
odds of becoming the next Fed Head begin to rise, Donald Kohn drops the
following headline bomb-shells at a Brookings' event this morning
KOHN: BAIL-IN NEEDED TO
PROTECT FINANCIAL SYSTEM FROM TOO BIG TO FAIL FIRMS
KOHN: VERY EASY MONETARY POLICY CAN CREATE DANGEROUS RISKS
Kohn: Problems can arise when one policy [monetary or financial
regulation] is leaning so hard in one direction
That should be enough to
effectively remove himself from the running... It seems we are
back to the lowest common denominator Fed-head - so much for American
exceptionalism again.
Submitted
by Tyler
Durden on 09/16/2013 - 17:00
It
is very easy to begin taking the whole of the world terribly serious, and
forget the legitimate absurdity inherent in our culture... look at it
for a moment, and ask yourself, what in the hell, exactly, are we doing? We've
always tried to maintain at least a moderate sense of humor in our writing, but
even we are finding it more and more difficult to simply laugh. Even
in the worst of times, humor is precious. It is an exceedingly
valuable tool in waking up the masses, and sometimes a thousand verifiable
facts might not have the same effect as a single enlightened joke.
Submitted
by Tyler
Durden on 09/16/2013 - 16:15
From
just after the opening of futures late last night - when US equities
knee-jerked up dramatically - stocks went only one way - lower. While
of course its all unicorns and butterflies with a triple-digit gain for the
Dow, the major indices all traded lower all day long on dismal volume as no one
seemed interested in buying the Yellen-rip. AAPL collapsed -3.25%,
closing back below its 200DMA, and dragged NASDAQ into the red for the day.
Treasuries were all rallying handsomely and there was much rejoicing that the
housing recovry will be back in full swing... and then it all fell apart and by
the close the 10Y was unch, 30Y +4bps, and 5Y -6bps as the
curve flattened notably (as bonds sold off with stocks). The USD surged off
knee-jerk overnight lows (though ended -0.3% still) but that momentum during
the day-session drove commodities all lower relatively uniformly (Oil, gold,
and silver down 1.5 to 2%). What was most odd was that everything
changed trend when OPRA broke...
Submitted
by Tyler
Durden on 09/16/2013 - 15:47
When
we first posted this
article a month ago, few paid attention as the entire world was gripped in
Summer-mania. Now that Summers is out of the picture, and the monetary policy
acumen of the former San Fran Fed president are under the spotlight, it is
probably an opportune time to recall Janet Yellen's ability to foresee the
future heading into the great financial crisis whose five year anniversary took
place this weekend. Or rather lack thereof, because as the
following excerpt from a 2010 FCIC hearing, noticed first
by the NYT, demonstrates, if this is the best Fed head replacement we can
do then we may as well fast forward to the Great Financial Crisis ver
2.0: “For my own part,” Ms. Yellen said, “I did not see and did
not appreciate what the risks were with securitization, the credit ratings
agencies, the shadow banking system, the S.I.V.’s — I didn’t see any of that
coming until it happened.”
Submitted
by Tyler
Durden on 09/16/2013 - 15:24
What started off as a tempest in a
teacup just ended up becoming not only the largest, $6.2 billion prop trading
blunder in JPMorgan history, but the latest ligitation headache for Jamie Dimon
amounting to at least $750 million to get the government off his back, and who
will of course neither admit nor deny it used customer deposits in an attempt
to corner the IG and HY markets:
JPMORGAN SAID TO AGREE TO AT
LEAST $750 MILLION IN WHALE FINES
JPMORGAN SAID TO SEEK END TO U.S.,
U.K REGULATORY PROBES IN Q
SOME WHALE SETTLEMENTS MAY BE
ANNOUNCED AS EARLY AS THIS WEEK
JPM TO ADMIT FAULTY INTERNAL
CONTROLS IN WHALE SETTLEMENT: WSJ
Of course, we hope that as part of
the settlement JPM will announce just what it is investing its current $500
billion in prop trading dry powder in as we disclosed
last week.
Submitted
by Tyler
Durden on 09/16/2013 - 15:18
Now
that Syria has been disposed of - that is, indefinitely consigned to failed state
purgatory - the world can focus its remaining attention on the almighty taper. We're
with those who think we’ll get a taper test. That is, the Fed will cut back ten
or fifteen percent on its treasury bond purchases to see what happens. What
happens is perfectly predictable: interest rates shoot above 3 percent on the
ten-year and holders of US paper all the world round fling them away like bales
of smallpox blankets and... Houston, we’ve got a problem. After a month
(or less) of havoc in the bond market, and the housing market, Mr. Bernanke
will issue an advisory saying (in more words than these) “just
kidding.” Then it will be back to business as usual, which is to say QE
Forever, which might as well be saying “game over.” One must feel for
poor Mr. Bernanke. He’s tried to run a long-distance foot-race against reality
and now it’s breathing down his neck near finish line.
Submitted
by Tyler
Durden on 09/16/2013 - 14:45
As we
warned here exactly one month ago, the tapering discussion may be
merely a "sideshow to a previously undiscussed main event: the Fed's first
forecast of 2016 interest rates." Now, the Fed's
mouthpiece-at-large has decided we can handle the truth and the WSJ's
John Hilsenrath explains the dilemma - The Fed's updated economic
projections could show an economy that appears back to normal by 2016, but their
projections of where short-term interest rates will be could show rates still
quite low by then. Their challenge: How to justify the low
interest-rate plan when their own estimates suggest an economy regaining its
health. Crucially, Hilsenrath adds, as the economy improves, the
Fed is trying to shift its emphasis from bond buying, which has uncertain costs
and benefits, to the low-rate pledge. How will the Fed square an economy near
full employment with a federal funds rate that remains historically low? "There
is an inconsistency there," said John Taylor - apparently
confirming what Rick
Santelli asked before - "What is the Fed
afraid of?"
13
DEAD IN NAVY YARD SHOOTING {Typical uncivilized niggers! }
MEDS?
Gunman claimed to have PTSD after rescuing victims on 9/11...
Had 'secret' clearance...
Was
arrested for shooting bullet into neighbor's home...
'Anger-fueled
blackout'...
Attended
Buddhist temple...
WAR
ZONE: SWAT-style teams deployed at Capitol...
Navy
exploring base security measures...
All
Killed, Wounded Were Civilians...
Russian
official mocks: 'A clear confirmation of American exceptionalism'...
CBSNBC
ID shooter as Naval officer, retract...
Feinstein
calls for new gun control laws...
WTOP
LIVE...
LAST
WEEK: Al Qaeda calls for small-scale attacks inside United States...
Kit Daniels | Unloaded firearm policies and
gun-free zones turn our troops into defenseless victims.
Julie Wilson | Obamacare mirrors Australia’s
mandatory sex questionnaires.
Anthony Gucciardi| Even before the media spin
begins, frenzied comments call for outright gun bans.
Paul Joseph Watson | Multiple victims shot in
‘gun free zone’.
Infowars.com | Trooper stumbles for words
after realizing man’s replica black powder revolver is not considered a firearm
under Texas law.
Anthony Gucciardi| French report fuels Syrian
military action as news cycle focuses on Navy Yard shooting.
Adan Salazar | Government once again begs
public to trust it.
Kurt Nimmo | Al-Zawahri said Muslims should
exploit opportunities to stage small attacks against the United States.
25
Fast Facts About The Federal Reserve – Please Share With Everyone You Know
Economic Collapse | It is
absolutely imperative that we get the American people to understand that the
Fed is at the very heart of our economic problems.
Kids, go to college or you’ll die alone in misery
Matt Walsh | Academic and banking
institutions make billions from this setup.
As
the Fantasy Dies: “Panic Will Ensue”
Mac Slavo | Prepare for panic. It’s coming.
Daily Caller| “When will enough be enough?”
Feinstein said in a statement Monday evening.
Julie Wilson | Obamacare mirrors Australia’s
mandatory sex questionnaires
Anthony Gucciardi| Even before the media spin
begins, frenzied comments call for outright gun bans.
Paul Joseph Watson | Multiple victims shot in
‘gun free zone’.
Kit Daniels | AR-15s are involved in less
than 2.5% of murders, which are trending downwards nationally.
Julie Wilson | Navy says “shelter in place,”
while DHS says use scissors to defend yourself.
Steve Watson | Almost all mass
shootings take place where Americans have been disarmed.
Daily Caller | Early internal
Department of Homeland Security document says no terror link.
The Washington Times | A Russian
official blasted “American exceptionalism” in a tweet Monday morning.
RT | West hopes for Syria without
Assad.
Obama
Supporters Sign Petition To Ban Gold Coins
Prison Planet.com | Confiscating
Coins From Safe Deposit Boxes to Help the Economy.
Cashing out: Hounded by criticism, Larry Summers calls off Fed
chairman bid
NBC News | Former U.S. Treasury
Secretary Larry Summers has withdrawn his bid for consideration to succeed Ben
Bernanke.
Amid slow economic recovery, more Americans identify as ‘lower
class’
LA Times | A small but surging
share of Americans consider themselves ‘lower class,’ a surprise to some
researchers and activists despite the bruising economy.
PUTIN
TRIP TO IRAN FOR NUKE TALKS
US-RUSSIA
REACH DEAL ON SYRIA...
Assad
has one week to account for weapons...
Arsenal
must be destroyed by mid-2014...
Congress
unlikely to vote on use of military force...
Iran:
US no longer has pretext to attack...
Syrian rebel infighting
leaves 5 dead...
Battles
rage in Christian town...
Earth
Gains Record Amount of Sea Ice In 2013...
...Al
Gore Predicted Arctic Ice Could Disappear...
New
UN report lowers estimates on global warming...
{ I’m about half-way through Dr. Michael
Crichton’s ‘State of Fear’, which deals with exactly that ‘Orwellian’ stratagem
and fraud … Never light reading from the masterful Doctor (though especially somewhat
laborious reading, I ‘forced myself to get through’ his first offering, viz.,
‘Andromeda Strain’ when it first came out… but, he’s worth your time … ) }
Head
of Syrian Rebels Calls for Terrorist Attacks On America
Posted by :
George Washington Post date:
09/13/2013 - Why Are We Supporting Guys Who Want to
Blow Us Up?
London Guardian |
Obama signalled that he was still prepared to launch military strikes if the
disarmament plan failed.
Daily Caller |
Putin was approached by Iran to protect the Islamic regime in the face of
continued pressure by the West.
Mike Krieger | I
hadn’t seen a survey focused on military members until now. The results are not
good for the establishment.
Al Jazeera |
Lavrov pointed out that the deal contained nothing about the potential use of
force if Syria fails to comply.
Washington’s Blog
| Things are getting better, not worse: Al Qaeda is gaining more and more power
among the rebels.
Tony Cartalucci |
What the UN report on Syria will say & what the liars in the West will
claim it says.
Infowars.com |
Father of Katy Perry, Mr. Keith Hudson to discuss his new book “Looking and
Seeing” a new way to look at the world around us.
Kids,
go to college or you’ll die alone in misery
Matt Walsh |
Academic and banking institutions make billions from this setup.
As
the Fantasy Dies: “Panic Will Ensue”
Mac Slavo |
Prepare for panic. It’s coming.
BofA: If The American Economy Doesn’t Accelerate Soon, It NEVER
Will
businessinsider.com
| Don’t expect stocks to go on an awesome tear over the next few years.
Comedian
Takes On The Insanity Of Fiat Money
Brandon Smith |
Think fiat currency can’t be funny?
JAPANESE NEWSPAPER: Obama To Nominate Summers To Fed As Soon As
Next Week
Business Insider
| It could happen as soon as next week.
Nigel Farage Slams Barroso’s European “Disaster”
Zero Hedge |
Following Barroso’s State of the EU speech, we thought it useful to reflect on
the true state of the EU.
Get Out There And Start Shopping: “No Possibility of Falling Back
Into Recession”
Mac Slavo | It’s
not all doom and gloom out there.
Submitted
by williambanzai7 on
09/13/2013 Q: IF HE WERE A FLAVOR OF ICE
CREAM, WHAT FLAVOR WOULD IT BE? A: PONZI ROAD “A
difficult second half”: Fabulous Excuses By Clothing Retailers As Sales Fall
Apart Posted by:
testosteronepit
Post date:
09/14/2013 - Not just “softness in the female
business”
Submitted by Tyler
Durden on 09/14/2013 - 17:59 Submitted by Tyler
Durden on 09/14/2013 - 17:17 The graphic is interactive -
choose from across the top indicators of health, and select individual states
for more details... Average: Submitted by Tyler
Durden on 09/14/2013 - 15:59 Submitted by Tyler
Durden on 09/14/2013 - 14:44 Submitted by Tyler
Durden on 09/14/2013 - 13:38 A
few days ago, when
we reported that the largest federation of unions, the AFL-CIO, had figured
out that Obamacare was not all it was craked up to be and demanded changes be
implemented to appease their constituency as pertains to multi-employer group
health plans, many wondered if the administration would not simply cave and
pass an exemption giving unions a sidedeal at the expense of all other
participants. Last night that option was taken off the table when the Obama
administration appeared to rule out giving unions a special deal to offer their
workers extra ObamaCare subsidies. As AP
reports, "on Friday night, the White House said the Treasury
Department had issued a letter making clear that it does not see a
legal way for individuals in multi-employer group health plans to receive
individual market tax credits as well as the favorable tax treatment associated
with employer-provided health insurance at the same time." Submitted by Tyler
Durden on 09/14/2013 - 12:13 Submitted by Tyler
Durden on 09/14/2013 - 11:12 As
economist Jesús Huerta de Soto documents in his tour de force Money, Bank Credit, and Economic
Cycles, government has played a leading role in fostering this banking
fraud for centuries. The state is forever on the search for more resources to
carry out its bidding. Cooperation with the leading money-lending institutions
was an obvious route for subverting the moral means to wealth creation. Since
the days of classical Greece, it was well understood that transactions of
present goods fundamentally differed from those involving future goods. In
practical terms, deposits for safekeeping were of considerable difference to
those made for the strict purpose of lending out and garnering a return.
Bankers who misappropriated funds were often found guilty of fraud and forced
to pay restitution. In one recorded episode, ancient Grecian legal scholar
Isocrates lambasted Athenian banker Passio for reneging on a client’s
depository claim. After being entrusted to hold a select amount of money, the
sly banker loaned out a portion of the funds in the hopes of earning a profit.
When asked to make due on the deposit, the timid Passio pleaded to his accuser
to keep the transgression “a secret so it would not be discovered he had committed
fraud.” Submitted by Tyler
Durden on 09/14/2013 - 09:57 Submitted by Tyler
Durden on 09/13/2013 - 21:47 Submitted by Tyler
Durden on 09/13/2013 - 20:57 Submitted by Tyler
Durden on 09/13/2013 - 20:51 Submitted by Tyler
Durden on 09/13/2013 - 20:17 Despite
Hank Paulson's recent re-emergence basking in the glory of his miracle, the
'too-big-to-fail' problem is bigger and more prone to fail than ever before
(M&A dominance, capital cost advantages, major AFS loss potential and huge
reliance on repo funding). The following excellent infographic from The FT succinctly
summarises the reasons why banks failed last time... and what lessons - if any
- we have learnt... Submitted by Tyler
Durden on 09/13/2013 - 19:48 Submitted by Tyler
Durden on 09/13/2013 - 19:14 Still
believe in humans buying and selling stocks, influencing the machinations of
broad-based equity valuations based on their aggregate (rational, frictionless,
technical, fundamental, and infinitely liquid) beliefs... then what the
f**k is this? Submitted by Tyler
Durden on 09/13/2013 - 18:42 Submitted by Tyler
Durden on 09/13/2013 - 18:02 While
we await Obama's response to the Putin
NYT op-ed from Wednesday night, the "pen-pal by proxy"
pissing contest just got a new contender: the Tea Party's own, and current
Heritage foundation president, Jim DeMint. And while DeMint's thesis is
certainly admirable, namely that America is exceptional, his
argument is that this is due to the... limited power of government!?
Jim, and the NSA probably had the same question ahead of us when it was
intercepting this letter as it was being transmitted in TCP/IP space and then
saved among a plethora of cloud servers, we wonder: wasn't the point to refute
Putin, not admit he is correct? Submitted by Tyler
Durden on 09/13/2013 - 20:17 Despite
Hank Paulson's recent re-emergence basking in the glory of his miracle, the
'too-big-to-fail' problem is bigger and more prone to fail than ever before
(M&A dominance, capital cost advantages, major AFS loss potential and huge
reliance on repo funding). The following excellent infographic from The FT succinctly
summarises the reasons why banks failed last time... and what lessons - if any
- we have learnt... Submitted by Tyler
Durden on 09/13/2013 - 19:48 Submitted by Tyler
Durden on 09/13/2013 - 19:14 Still
believe in humans buying and selling stocks, influencing the machinations of
broad-based equity valuations based on their aggregate (rational, frictionless,
technical, fundamental, and infinitely liquid) beliefs... then what the
f**k is this? Submitted by Tyler
Durden on 09/13/2013 - 18:42 Submitted by Tyler
Durden on 09/13/2013 - 17:29 Submitted by Tyler
Durden on 09/13/2013 - 16:48 Submitted by Tyler
Durden on 09/13/2013 - 16:17 -
Ben Bernanke, Deflation:
Making Sure "It" Doesn't Happen Here, November 21, 2002 Submitted by Tyler
Durden on 09/13/2013 - 16:08 Submitted by Tyler
Durden on 09/13/2013 - 15:46 The
American public is "just too darn stupid to get it." That
is the message that CNBC's Rick Santelli hears from the mainstream media when
discussing polls that suggest US citizens are against a rise in the debt
ceiling. Perhaps, as he exclaims, "we should only poll the Harvard and
Princeton professors," since they have such a good grasp of reality. But,
it is the "giant leap of faith" that the Fed can really move
unemployment and keep the economy humming along to support the level of
equities that has the Chicagoan irate. Congress - listen up - he
explodes, "70% of Americans oppose raising the debt ceiling, and 55%
oppose it even if it means default." With the mid-terms not so far away,
Santelli warns, "Americans know exactly what they want and they
are not getting it from the current Congress." Submitted by Tyler
Durden on 09/13/2013 - 15:18 Submitted by Tyler
Durden on 09/13/2013 - 14:52 Submitted by Tyler
Durden on 09/13/2013 - 14:27 Submitted by Tyler
Durden on 09/13/2013 - 14:01 Submitted by Tyler
Durden on 09/13/2013 - 13:34 Kit
Daniels | Further evidence that the Aug. 21 chemical attack was a
false flag to frame Assad. Anthony
Gucciardi | Real, authentic media destroys Obama administration
lies designed to launch nations into WW3. Paul
Joseph Watson | Long term goal is to “identify terrorists and
criminals in public areas.” Paul
Joseph Watson | …And he also just happens to be the head of
Al-Qaeda. Kurt
Nimmo | Ibragim Todashev executed after eight hours of FBI
interrogation following Boston bombing. Paul
Joseph Watson | Young people around the world are becoming
increasingly mindless, amoral and desperate. Kurt
Nimmo | CNN is a valuable propaganda asset for wars of globalist
intervention. Al-Qaeda
chief calls for attacks on USA... POLL:
Americans' trust in government falls to all-time low... Kerry's
Russian counterpart mocks him for talking too much...Choices become actions, actions
become habits, and habits become our character. Posted by:
hedgeless_horseman Post date:
09/13/2013 - One problem is that life now moves so
quickly, and we make so many decisions in a day, and with such little thought,
that we can easily find ourselves exhibiting actions, habits, and character
that...
NiKKei THe 13TH... Posted by:
williambanzai7
Post date:
09/13/2013 - If he were a flavor of ice cream, what
flavor would it be?
NiKKei THe 13TH...
Dollar Outlook: Is it Really All
about the Fed? Posted by:
Marc To Market Post date:
09/14/2013 - Even if one correctly predicts what the
FOMC does next week, getting the direction right for dollar is a different
matter. The markets are anticipatory in nature and the effect often
takes...
Dare
To Question Argentina's Inflation Data, Prepare To Go To Jail
Back
in April, we saw that merely asking the local economy minister what
Argentina's rate of inflation is, was enough to prematurely terminate any
interview and result in a mocking,
viral twitter meme. Since then, things for Argentina haven't exactly worked
out too well: a
recent Appeals court ruling found in favor of Elliott and the holdout
bondholders, resulting in a downgrade of the country to CCC+, and leaving it
with the possibility of having to fund billions in deferred obligations.
"The lawsuit could result in the interruption of payments on bonds
currently under New York jurisdiction, or it could prompt Argentina to
undertake a debt exchange that we could view as distressed," S&P said
in the statement. "There is at least a one-in-three chance of either
occurring within the coming 12 months." Of course, to many the fact that
Argentina has still not redefaulted is even more surprising. The reason for
that is that despite president Fernandez ongoing rose-colored glasses PR
campaign, the domestic economy has been deteriorating at an accelerating pace
with runaway inflation destroying local purchasing power for years. As a result
of the ongoing authoritarian crackdown on not only individual liberties, but
economic data, it has gotten to the point that the government is
criminally prosecuting anyone who dares to publish independent inflation data.The
Financial States Of America
Like
many Americans since the recession hit, you have likely wondered if relocating
to another state would be a good financial move. In this expansive interactive
infographic below, we compare just how well each state is fairing in these
challenging times. How does your state rank?
http://www.moneychoice.org
http://www.moneychoice.org/states/
http://www.moneychoice.org/states/thefinancialstates.swf
Guest Post: 5 Years Of Financial Non-Reform
Five
years after the collapse of Lehman Brothers triggered the largest global
financial crisis since the Great Depression, outsize banking sectors
have left economies shattered in Ireland, Iceland, and Cyprus. Banks
in Italy, Spain, and elsewhere are not lending enough. China’s credit binge is
turning into a bust. In short, the world’s financial system remains dangerous
and dysfunctional. Worse, despite years of debate, no consensus about the
nature of the financial system’s problems – much less how to fix them – has
emerged. And that appears to reflect the banks’ political power.
Unfortunately, despite the enormous harm from the financial crisis, little has
changed in the politics of banking. Too many politicians and regulators
put their own interests and those of “their” banks ahead of their duty to
protect taxpayers and citizens. We must demand better.
3 Potential "Taper" Surprises And FOMC Sugar-Coating
As we
head for the fateful FOMC announcement on September 18, US data have continued
to moderate. Accordingly, the consensus seems to be converging on a
$10-15 billion initial reduction in monthly purchases (mostly focused
on the Treasury side and less so on MBS) with any 'tightening' talk tempered by
exaggerated forward-guidance discussions and the potential to drop thresholds
to appear more easy for longer, since as CS notes, assuming Fed policymakers
have learned anything in the last four months, they must know that the markets
view “tapering” as “tightening,” even though they themselves for the most part
do not. Thus, they are going to need to sugar-coat the message of
tapering somehow. But as UBS notes, political risks have grown and
there is little clarity on the Fed's thinking about the housing market. This
leaves 3 crucial surprise scenarios for the FOMC "Taper"
outcome.
White House Scraps Option For Labor Union Obamacare Exemption, Despite AFL-CIO
Anger
Record High Grade Leverage Means PIK Toggle LBO Debt Is Back And Worse Than
Ever
If Fed
governor Jeremy Stein had concerns about a resurgent credit bubble in February
when he wrote his warning about "Overheating
in Credit Markets: Origins, Measurement, and Policy Responses" then he
should certainly not look at the bubbly ferocity that is taking place in the
bond world just half a year after his letter failed to make any dent in the
yield-chasing animal spirits.
Illogic In Fractional Reserve Banking
U.S., Russia Reach Deal On Syria Chemical Weapons
Following
two days of negotiations in Geneva, this morning John Kerry and his Russian
counterpart Sergey Lavrov announced they have reached an agreement for a
framework on how Syria would destroy its chemical weapons, and would also seek
a UN Security Council resolution that would authorize sanctions, but not
military action as per Russia's demand, if Assad failed to comply. The
diplomats announced on the third day of intense negotiations in Geneva that
some elements of the deal include a timetable and how Syria must comply. At a
news conference at the Intercontinental Hotel in Geneva, Kerry said the
inspectors must be on the ground by November and destruction or removal of the
chemical weapons must be completed by mid-2014.
Military Times Survey: 75% of Troops Oppose Strikes On Syria
It’s
always a good sign for an empire’s fortunes when the commander in chief of the
armed forces completely loses the confidence and trust of the troops.
The German Federal Election: The Full Infographic
El-Erian: What's Happening To Bonds And Why?
To
say that bonds are under pressure would be an understatement. Over the
last few months, sentiment about fixed income has flipped dramatically: from a
favored investment destination that is deemed to benefit from exceptional
support from central banks, to an asset class experiencing large outflows,
negative returns and reduced standing as an anchor of a well-diversified asset
allocation. Similar to prior periods, history will regard the ongoing phase
of dislocations in the bond market as a transitional period of adjustment
triggered by changing expectations about policy, the economy and asset
preferences – all of which have been significantly turbocharged by a set of
temporary and ultimately reversible technical factors. By contrast, history is
unlikely to record a change in the important role that fixed income plays over
time in prudent asset allocations and diversified investment portfolios – in
generating returns, reducing volatility and lowering the risk of severe capital
loss. Understanding well what created this change is critical to
how investors may think about the future.
Why Banks Failed
Marc Faber On Protecting Wealth In The Coming Collapse
Faber
begins by noting that "a deflationary bust, whenever it may happen
(tomorrow or 10 years), is inevitable; and is the opposite of an increase in prices
from inflation." Of course, it is the central banks' response to
even the fears of that bust (e.g. whether it washes around the world - from
EM to DM) that will turn an asset-deflationary bust into a
hyperinflationary collapse in fiat currencies; and focused on the long-term,
'Gloom, Boom, & Doom Report's' Marc Faber looks at how to preserve
wealth through this as he ranges from the obsolescence risk of
equities to the political risk of real estate and banking risks of cash and
deposits. Faber reflects on various lessons from the past (hyperinflations,
wars, banking crises) and geographies as he moves from asset class to asset
class highlighting the pros and cons of each. Preferring a mix of gold and
diversified real estate (and not government bonds), Faber warns
investors to be highly skeptical of anyone who believes they can forecast what
is going to happen over the next 5-10 years.
Spot The Lack Of Difference
Guest Post: Did Capitalism Fail?
Until
six days before Lehman Brothers collapsed five years ago, the ratings agency
Standard & Poor’s maintained the firm’s investment-grade rating of “A.”
Moody’s waited even longer, downgrading Lehman one business day before it
collapsed. How could reputable ratings agencies – and investment banks –
misjudge things so badly? Regulators, bankers, and ratings agencies bear much
of the blame for the crisis. But the near-meltdown was not so much a
failure of capitalism as it was a failure of contemporary economic models’
understanding of the role and functioning of financial markets – and,
more broadly, instability – in capitalist economies. Yet the mainstream of
the economics profession insists that such mechanistic models retain validity.Tea
Party Founder Responds To Putin Op-Ed
Why Banks Failed
Marc
Faber On Protecting Wealth In The Coming Collapse
Faber
begins by noting that "a deflationary bust, whenever it may happen
(tomorrow or 10 years), is inevitable; and is the opposite of an increase in
prices from inflation." Of course, it is the central banks'
response to even the fears of that bust (e.g. whether it washes around the
world - from EM to DM) that will turn an asset-deflationary bust into a
hyperinflationary collapse in fiat currencies; and focused on the long-term,
'Gloom, Boom, & Doom Report's' Marc Faber looks at how to preserve
wealth through this as he ranges from the obsolescence risk of
equities to the political risk of real estate and banking risks of cash and
deposits. Faber reflects on various lessons from the past (hyperinflations,
wars, banking crises) and geographies as he moves from asset class to asset
class highlighting the pros and cons of each. Preferring a mix of gold and
diversified real estate (and not government bonds), Faber warns
investors to be highly skeptical of anyone who believes they can forecast what
is going to happen over the next 5-10 years.
Spot The Lack Of Difference
Guest
Post: Did Capitalism Fail?
Until
six days before Lehman Brothers collapsed five years ago, the ratings agency
Standard & Poor’s maintained the firm’s investment-grade rating of “A.”
Moody’s waited even longer, downgrading Lehman one business day before it
collapsed. How could reputable ratings agencies – and investment banks –
misjudge things so badly? Regulators, bankers, and ratings agencies bear much
of the blame for the crisis. But the near-meltdown was not so much a
failure of capitalism as it was a failure of contemporary economic models’
understanding of the role and functioning of financial markets – and,
more broadly, instability – in capitalist economies. Yet the mainstream of
the economics profession insists that such mechanistic models retain validity.
UK Realtors Ask Central Bank To Halt Housing Bubble
"The
Bank of England now has the ability to take the froth out of future housing
market booms, without having to resort to interest rate
increases," is the way the UK's realtor association explains their demand
that the BoE limit national house price growth to 5% a year. While
they would benefit from short-term gains, it seems the Royal Institution of
Chartered Surveyors (RICS) sees the dangers of another unsustainable housing
boom outweigh them. As The
FT reports, RICS adds, "this cap would send a clear and simple
statement to the public and the banking sector, managing expectations as to how
much future house prices are going to rise. We believe firmly anchored
house price expectations would limit excessive risk taking and, as a result,
limit an unsustainable rise in debt." Or will it merely lead to
further financial engineering and leverage?VIX WTF Deja Vu
On a
day when the CBOE was struggling to disseminate data, exchanges proclaiming
self-help against one another, weekly expirations and an AAPL share price well
below early week pin-risk levels, it makes perfect sense that it would be a
VIX-sparked momentum ignition algo that would lift a super-low-volume day in US
stocks from perfectly at VWAP to close at their highs (banging them
0.25% higher in the last 3 minutes of the day)... all we can say is WTF...
Bernanke's Helicopter Is Warming Up: Larry Summers - First Pilot
"A
broad-based tax cut, for example, accommodated by a program of open-market
purchases to alleviate any tendency for interest rates to increase, would
almost certainly be an effective stimulant to consumption and hence to prices.
Even if households decided not to increase consumption but instead re-balanced
their portfolios by using their extra cash to acquire real and financial
assets, the resulting increase in asset values would lower the cost of capital
and improve the balance sheet positions of potential borrowers. A
money-financed tax cut is essentially equivalent to Milton Friedman's famous
"helicopter drop" of money ."
Dow's Best Week In 8 Months (Ahead of Taper, Elections, Debt Ceiling, &
Syria)
What
do you do when there are some of the biggest and most catalyzing events in
recent years waiting just around the corner? Why you buy stocks of course with
both hands and feet... The Dow gained around 3% on the week - its best
since the first week of January - outperforming its higher-beta peers
(as AAPL lost over 6% for its 3rd worst week of the year). This was the
lowest non-holiday week volume of the year. It seems weak retail sales and
a collapse in confidence also spurred buying (and yet more short-covering: Shorts
+0.5%, RUT +0.17%) and the opposite-world of QE rules the day/week
(until next week perhaps). Bonds rallied (best week in 4 months), the USD
dropped its most in a month, and VIX had its biggest weekly drop in 6 weeks.
Gold and Silver were clubbed like baby-seals this week until lunchtime
today - when they started to surge green on the day.
Santelli Rants Against The Intellectual Arrogance Of The
"Intellectuals"
Are
Your Great-Grandchildren Prepared For $212 Condoms?
Just
how will your great-grandchildren preserve their wealth - or are they
stockpiling condoms and gasoline now?
"Nobody Knows What The F**k Is Going On..."
Financial
circles in Hong Kong are buzzing today on the new Goldman Sachs projection that
gold may drop below $1,000 an ounce. The central thess: since the US
economy is out of the woods, there’s no longer a need for gold as a risk hedge.
But as one senior-level manager at a major investment bank noted, "Nobody
knows what the f**k is going on..." However, this mentality entirely
misses the point of precious metals. When the hopes and dreams of the
entire global financial system rest on the lies of politicians, the whims of
central bankers, and the mountains of debt they have all accumulated, things
could turn on a dime... tomorrow. Gold is an insurance policy. It’s a
form of money that you might never need to use. But should that need ever
arise, you’ll be so much better off for owning it.
Larry Summers Fed Chair Odds Soar Further, Now Undisputed Favorite
It
seems this morning's trial balloon has set the gamblers off as PaddyPower shows
that the probability of Larry Summers becoming the next Fed Chair has
soared to over 85%. Just six short weeks ago Summers was a long-shot
20% probability and Yellen the shoe-in at 75%. In the meantime, despite over
300 economists putting pen to paper to demand more of the same monetary policy
that has not worked; Summers is now more probable that Yellen was at the start.
Of course, given today's reaction, traders may start to position for the
seemingly inevitable though we suspect that - as usual - we will be told that
stocks near their highs are already discounting this and any other potential
change.
CEOs Confess: Consumption, That 70% Component Of US GDP, Just Isn't There
Following
this morning's miss
on retail sales and plunge
in consumer confidence, Bloomberg's Rich Yamarone points out that retailers
remain anxious about the outlook as they see consumers cautious and
expect a spending slowdown. The following quotes from some of the
largest and most belwether names may help shed some light on the reality of the
hope that is priced into markets about consumption relative to actual business
expectations... perhaps best summed by Sealed Air's CEO, "we are in
the fourth year of the recovery and it doesn’t feel like a recovery. Because it’s
the first time ever that things, four years within a recovery, are feeling so
iffy."
What A Difference A Decade Makes
Even
as the popular press if focused on the 5 year anniversary of Lehman, we decided
to go back double that period, and take a look at what happened to the
developed world economy in the past decade, starting with 2003. What we found
was interesting.U.S. Military: Al-Qaeda Rebels
Produced Sarin Gas For Chemical Attacks In Syria
Real Media Blocks Obama’s Attempt at
Plunging Nations Into WW3
DHS to Test Face Scanning Cameras at
Tri-City Hockey Game
Leader of Syrian Rebel Group Calls For
Attacks Inside US
Wife of Man Executed by FBI Demands
Justice
Kill a Family Member to Join the
Illuminati!
CNN Propagandist Amanpour Demands
“Moral” Intervention in Syria
War
Is Coming: 10 Reasons Why A Diplomatic Solution To The Syria Crisis Is
Extremely Unlikely
Over the past few days, there has
been a tremendous wave of optimism that it may be possible for war with Syria
to be averted. Unfortunately, it appears that a diplomatic solution to
the crisis in Syria is extremely unlikely. Assad is certainly willing to
give up his chemical weapons, but he wants the U.S. to accept a bunch of
concessions that it will never agree to. And it certainly sounds like the
Obama administration has already decided that “diplomacy” is going to fail, and
they continue to position military assets for the upcoming conflict with
Syria. Meanwhile, Saudi Arabia, Qatar and Turkey are all going to
continue to heavily pressure the Obama administration. They have invested
a huge amount of time and resources into the conflict in Syria, and they
desperately want the U.S. military to intervene. Fortunately,
overwhelming domestic and global opposition to an attack on Syria has slowed down
the march toward war for the moment, but unfortunately that probably will not
be enough to stop it completely. The following are ten reasons why war is
almost certainly coming… (Read More.....)
'Don’t
Worry' About What I Just Said...