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Hombre
Joined: 07 Jan 2008
Posts: 939
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 Posted: Thu Sep 18, 2008 4:03 pm Post subject: |
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Fintan my man,
with utmost respect I've taken the other side of the trade on this one. Today was a day to mark on one's calender, it was a watershed day on wall street. Snap back trading and fist fights on the floor, I saw a few. Pretty ugly.
It took a bucket load of balls to buy long common this morning but any who did made a ton of money. I made a bit but am not as greedy as I was in my youth  I preserve capital like a dong protects his bone.
Gold and Oil are scams being run by the IMF, Fed's and World Bank. The smart money is selling Gold and the Fools are buying. I'll wager a large sum that by Christmas Gold will be near 600 an 0z and Oil under 80 per.
What many never grasp is that the sellers of Gold are in fact the owners of Gold. They always will be because they are the only ones who have the capital to buy it back when it falls in value. They have the capital because THEY WERE THE ONES WHO SOLD IT.
Trying to turn Oil into a world currency will fail and fail big time. When you couple that with this sub-prime BS you have a liquidity issue beyond anyone's capability to grasp, FOR COMMON MAN THAT IS.. An asset that depreciates in value at the rate of 5%-10% per month doesn't take long to destroy anyone holding a load of that assets debt. HTF can you meet the obligations of those assets if they are worth 40% less than the monies loaned on them, and in some cased 50%?
The boys and girls in Washington haven't figured this out yet. They'll need to use words like " SCAM " " FRAUD " to work there way out of this mess and then figure a way to SELL the next " BIG IDEA " to the public in an effort to regain the imaginary trust. I doubt it flies.
An RTC isn't the answer only fools think it is. ( JMHO )
If you don't see a strengthened dollar within 6 months time, and things are even 1/2 as bad as TPTB want you to believe then 1929 will end up looking like a freaking picnic in the park compared to what lies ahead.
IMHO~~ allowing the hedge funds to play with oil is far worse than sub-prime simply because someone will eventually buy, and some are buying depressed assets but ( NO ONE ) will continue to buy Oil that they can't afford. Why would anyone buy a commodity, that actually has no tangible value, before buying one that does is something that has always made me chuckle, yet they line up like it's going out of style.
Anyway that's just an old mans rant, AH 2 cents 
Hombre |
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Fintan
Site Admin
Joined: 18 Jan 2006
Posts: 4100
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| Posted: Thu Sep 18, 2008 4:47 pm Post subject: |
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Volatile markets are great for making money.
That's why we have them.
But I'm not in the business of debating short-term trading.
| Quote: | Hombre
It took a bucket load of balls to buy long common
this morning but any who did made a ton of money. |
Please. I did it back in '87.
But why use balls when brains are better?
Tell me when these people have NOT staged
a rally 3 to 5 days after they staged a fall?
It's boringly predictable.
| Quote: | | Hombre: The smart money is selling Gold |
Ummmm.....
Fiat currencies are imploding, rather than let assets(profits) deflate.
How smart is selling gold?
Long term, it's not.
_________________
Minds are like parachutes.
They only function when open. |
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Fintan
Site Admin
Joined: 18 Jan 2006
Posts: 4100
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| Posted: Thu Sep 18, 2008 8:12 pm Post subject: |
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| Quote: |  |
The Next Level Show - 19th September, 2008
Economic Icebergs & Opportunity
US markets are rallying from yet another staged 'crisis' on the way
to impact with the economic iceberg -the real one- which lies ahead.
This particular crisis marks the formal first move to Third World economic
status and a socialist command economy. And yet, despite this, we are all
also on the cusp of opportunity. Fintan Dunne analyses the Meltdown.
LISTEN:
Broadband Mp3 Audio 
http://BreakForNews.com/audio/BeautifulTruth080919a.mp3
Click to Play or Right-Click to 'Save As' and Download.
Dialup Mp3 Audio
http://BreakForNews.com/audio/BeautifulTruth080919.mp3
Click to Play or Right-Click to 'Save As' and Download.
| Quote: | The Worst Is Yet to Come
BY CHRIS PUPLAVA
Last week I took a look at why consumers were so depressed. In short,
my conclusion was that consumers were finally coming to terms with their
balance sheets and this wakeup call: that you can’t borrow your way
indefinitely to maintain ones standard of living. Consumers will be forced
to save and consume less as the liquidity trough of cheap credit has been
removed. As Warren Buffet said, “Only when the tide goes out do you
discover who’s been swimming naked.”
The banks are now paying for their complete lapse in lending standards
as financial losses continue to mount. Total commercial bank delinquent
loans and leases have surpassed levels seen in the prior recession.
Moreover, the rate of growth in noncurrent loans and leases is one for the
record books as current deterioration in bank loans surpasses the rates
seen in the prior two recessions.
http://www.financialsense.com/Market/cpuplava/2008/0827.html |
| Quote: | Ex-Finance Ministers Offer U.S. Economic Advice
by David Kestenbaum
 Morning Edition, September 15, 2008 · When the U.S. Treasury stepped in to save Fannie Mae and Freddie Mac this month, the public got a reminder of just how interconnected the economies of the world have become. What began as a problem in the U.S. mortgage market, with people borrowing too much to buy houses here, ended up threatening to drag down the entire global economy.
With the news of the Fannie and Freddie bailout still unfolding, former finance ministers from around the world met last week to discuss global economic stability. Some of them had a polite suggestion for the U.S., namely that a little international advice might have helped stave off the crisis.
The ministers met at the University of Virginia, beneath the grand dome where Thomas Jefferson once kept his library. They were cordial, but also frank. Maybe the U.S. should get a financial checkup, they suggested, from the International Monetary Fund.
"Now I think the time has come," said Yashwant Sinha, former finance minister of India. "After the crisis here ... the U.S. should accept some monitoring by the IMF." Sinha thinks an IMF review might have sounded an additional warning about America's still-unfolding mortgage crisis.
It's worth noting that the IMF is the world agency that countries turn to when they're in serious trouble, as Argentina has done during its recent flirtation with the brink. The IMF functions as a kind of global loan shark.
http://www.npr.org/templates/story/story.php?storyId=94617079 |
| Quote: | Hey U.S., welcome to the Third World!
It's been a quick slide from economic superpower to economic basket case.
Rosa Brooks - September 18, 2008
Dear United States, Welcome to the Third World!
It's not every day that a superpower makes a bid to transform itself into
a Third World nation, and we here at the World Bank and the International
Monetary Fund want to be among the first to welcome you to the community
of states in desperate need of international economic assistance.
As you spiral into a catastrophic financial meltdown, we are delighted to
respond to your Treasury Department's request that we undertake a joint
stability assessment of your financial sector. In these turbulent times, we
can provide services ranging from subsidized loans to expert advisors
willing to perform an emergency overhaul of your entire government.
As you know, some outside intervention in your economy is overdue. Last
week -- even before Wall Street's latest collapse -- 13 former finance
ministers convened at the University of Virginia and agreed that you must
fix your "broken financial system." Australia's Peter Costello noted that
lately you've been "exporting instability" in world markets, and Yashwant
Sinha, former finance minister of India, concluded, "The time has come.
The U.S. should accept some monitoring by the IMF."
We hope you won't feel embarrassed as we assess the stability of your
economy and suggest needed changes. Remember, many other countries
have been in your shoes. We've bailed out the economies of Argentina,
Brazil, Indonesia and South Korea. But whether our work is in Sudan,
Bangladesh or now the United States, our experts are committed to
intervening in national economies with care and sensitivity.
We thus want to acknowledge the progress you have made in your
evolution from economic superpower to economic basket case. Normally,
such a process might take 100 years or more. With your oscillation
between free-market extremism and nationalization of private companies,
however, you have successfully achieved, in a few short years, many of
the key hallmarks of Third World economies.
Your policies of irresponsible government deregulation in critical sectors
allowed you to rapidly develop an energy crisis, a housing crisis, a credit
crisis and a financial market crisis, all at once, and accompanied (and
partly caused) by impressive levels of corruption and speculation.
Meanwhile, those of your political leaders charged with oversight were
either napping or in bed with corporate lobbyists.
Take John McCain, your Republican presidential nominee, whose senior
staff includes half a dozen prominent former lobbyists. As he recently put
it, "I was chairman of the [Senate] Commerce Committee that oversights
every part of the economy." No question about it: Your leaders' failure to
notice the damage done by irresponsible deregulation was indeed an
oversight of epic proportions.
Now you are facing the consequences. Income inequality has increased,
as the rich have gotten windfalls while the middle class has seen incomes
stagnate. Fewer and fewer of your citizens have access to affordable
housing, healthcare or security in retirement. Even life expectancy has
dropped. And when your economic woes went from chronic to acute, you
responded -- like so many Third World states have -- with an extensive
program of nationalizing private companies and assets. Your mortgage
giants Fannie Mae and Freddie Mac are now state owned and controlled,
and this week your reinsurance giant AIG was effectively nationalized,
with the Federal Reserve Board seizing an 80% equity stake in the flailing
company.
Some might deride this as socialism.
But desperate times call for desperate measures.
Admittedly, your transition to Third World status is far from over, and it
won't be painless. At first, for instance, you may find it hard to get used
to the shantytowns that will replace the exurban sprawl of McMansions
that helped fuel the real estate speculation bubble. But in time, such
shantytowns will simply become part of the landscape. Similarly, as
unemployment rates continue to rise, you will initially struggle to find a
use for the expanding pool of angry, jobless young men. But you will
gradually realize that you can recruit them to fight in a ceaseless round
of armed conflicts, a solution that has been utilized by many other Third
World states before you. Indeed, with your wars in Iraq and Afghanistan,
you are off to an excellent start.
Perhaps this letter comes as a surprise to you, and you feel you're not
fully ready to join the Third World. Don't let this feeling concern you.
Though you may never have realized it, you've been preparing for this
moment for years.
http://www.latimes.com/news/opinion/la-oe-brooks18-2008sep18,0,6908905.column
READ COMMENTS ON THIS ARTICLE:
http://www.latimes.com/news/opinion/la-oew-rb18-2008sep18,0,7265214.graffitiboard |
_________________
Minds are like parachutes.
They only function when open.
Last edited by Fintan on Fri Oct 17, 2008 5:57 pm; edited 4 times in total |
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LonePunman
Joined: 09 Jan 2008
Posts: 70
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| Posted: Thu Sep 18, 2008 8:51 pm Post subject: |
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There is only one currency left:
Righteousness, justice, compassion, charity.
Pursuing gold is as foolish as pursuing paper money, guns, drugs, or prostitutes.
"In all your getting, get wisdom!"
"Go now, rich men:
Howl and weep!
For the miseries that are coming upon you now!
Your riches are rotted away, your garments moth eaten.
Your gold and silver is poisoned.
The rust on them will witness to your adulterations,
and shall eat your flesh as a fire.
You have piled up treasure for the Last Days.
Behold! The hire of the labourers who worked your fields, you held back by fraud!
The money cries out, and the cries of the the workers have entered into the ears of the LORD of the Sabbaoth!
You have lived in hedonism on earth, and went whoring.
You have fattened up your hearts as for a day of slaughter.
You condemned and killed the just, and they could not resist you."
...................................................(Jacob to the 12 Tribes - 5:1-6) |
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and i
Joined: 13 Sep 2006
Posts: 117
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| Posted: Thu Sep 18, 2008 9:19 pm Post subject: |
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AIG was the most alarming story to me. "Huge Company That's Highly Connected to the Events of 9/11 Borrows $40 Billion From the US Central Bank". And it gets like a 3 paragraph article once and that's that...
When will people start to realize that government, banks, and large corporations are the same entity?!? I suppose we have known for decades really... I suppose the better question is: When will we end our dependence on useless products and fiat currency?
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Can't be beat, won't be beat, etc. |
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duane
Joined: 07 Mar 2007
Posts: 511
Location: western pennsylvania
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| Posted: Thu Sep 18, 2008 9:46 pm Post subject: |
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another good one, Fintan
" A criminal is a person with predatory instincts who has not the sufficient capital to form a corporation" Clarence Darrow
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Birth is the first example of " thinking outside the box" |
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Rumpl4skn
Joined: 11 Feb 2006
Posts: 2599
Location: 36° 3'N x 86°40'W
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| Posted: Thu Sep 18, 2008 9:50 pm Post subject: |
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Excellent show.
Along with the "sharks eating smaller sharks", the endless roller-coaster ride of relieving rallies after huge falls, is that it desensitizes the stock-buying masses to falls. So that when the real crash happens..... they'll be shopping for HDTVs at Target, waiting for the "inevitable" news that a rally happened.
Excellent show. I need to read this whole thread, I've been distracted lately. Good to see the forum still kicking arse. |
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Wheelie Dan
Joined: 14 Dec 2006
Posts: 12
Location: Red Bank, New Jersey, USA
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| Posted: Thu Sep 18, 2008 10:15 pm Post subject: |
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"We thus want to acknowledge the progress you have made in your evolution from economic superpower to economic basket case."
What a great line.
The robber baron international economy has approved all manner of shenanigans. Quite a charming spectacle.
Interesting 9/11 metaphor at the end of the broadcast.
Thanks for the Roas Brooks letter. |
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RedMahna
Joined: 07 Sep 2006
Posts: 887
Location: On or near a computer
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| Posted: Thu Sep 18, 2008 11:12 pm Post subject: |
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| Quote: | | The boys and girls in Washington haven't figured this out yet. They'll need to use words like " SCAM " " FRAUD " to work there way out of this mess and then figure a way to SELL the next " BIG IDEA " to the public in an effort to regain the imaginary trust. I doubt it flies. |
hombre, yeah actually it just might be T Boone Pickens and his big, fat greek wedding he's peddling on the TV.
the "faithful" down here in beautiful GOP SW Virginia look upon him as the 2nd coming to herald in the newer free market - our very own AMERICAN free market. that's where the next boom money might go. endless govt emminent domain takeovers and public donations (tax and personal moneys) to fuel our hero's considerate offer to "help" us out of the "oil crisis."
just watch for it.
if the public won't buy it lock, stock & barrel, it will become the 21st century version of the "New Deal," especially if McCain and Palin get voted (or defaulted) in to "save" our "patriotic" nation.
red
ps... listening to the show now. i hear it's a good one, so off i go.
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speechless for once. |
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Hombre
Joined: 07 Jan 2008
Posts: 939
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| Posted: Fri Sep 19, 2008 5:07 am Post subject: |
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Well my wife is a analysts for a publicly traded, Fairly large bank. She's been saying for months that based on her work things can't be as bad as the Government is letting on. We've debated this until we end up pissed off and then just let it go. I suppose we tend to look at things from a different perspective in this regard, I mean she's not been in a Home Depot @ 6 am lately, so she doesn't know that you can fire a shotgun through the joint and not hit a soul. All she sees are people buying up depressed property and assets hand over fist.
Pickens is someone I'm not a fan of in any respect. He helped fuel the Oil speculation with his spew on CNBC. Those clowns looked like deer in headlights on Wednesday and ended up giving high fives on Thursday. In my personal opinion there's two or three smart people working that pit and the rest are just whores.
| Quote: | and i
PostPosted: Thu Sep 18, 2008 9:19 pm Post subject:
AIG was the most alarming story to me. "Huge Company That's Highly Connected to the Events of 9/11 Borrows $40 Billion From the US Central Bank". And it gets like a 3 paragraph article once and that's that...
When will people start to realize that government, banks, and large corporations are the same entity?!? I suppose we have known for decades really... I suppose the better question is: When will we end our dependence on useless products and fiat currency? |
Well if you watched or heard it, CNBC was all over this and was mentioning the 9-11 connection. You're dead spot on about the connections to that event. Hank Greenberg was smart enough to see the trees for the forest and will now buy back some of AIG's assets from the very crew he allowed to scuttle his ship in the first place. They are using this "SWAP DEBT RATIO " BS as the catalyst for some of these companies demise when in fact is merely short selling by billion dollar hedge funds doing the deed and you can bet most of their tactics are not legal.
Fintan has a good grasp of these events as do many others posting here. I'm not as bright or qualified to speak on some aspects of this mess but I do know it's been allowed to happen by the current administration and some well placed world leaders. There is one person directly tied to the decline in the dollars value, I'll not name this dude but rest assured he's made a few hundred million by shorting the dollar. He was buying euro's and shorting the dollar 3 plus years ago.
He'll eventually, if he hasn't already, unwind his position just as Pickens seems to have unwound his Oil trade Don't be fooled by these people their resources are endless as is their passion for raping anyone standing in their way.
Hombre |
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Hombre
Joined: 07 Jan 2008
Posts: 939
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| Posted: Fri Sep 19, 2008 6:22 am Post subject: |
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A little ditty on Gold as told by ABC NEWS.
| Quote: | There are roughly 540,000 gold bars belonging to 48 foreign central banks and 12 international organizations such as The International Monetary Fund or The Bank for International Settlement. The United States has about 5 percent of its gold stored there.
Fed officials were very tight-lipped about who owns what gold. Accounts are just identified by number, not name.
This vault contains about 25 percent of the world's gold reserves. That's more gold that the entire annual economy of the United Arab Emirates -- home to Dubai and Abu Dhab |
The IMF are the snakes in the grass that I mentioned earlier. Trust me they'll make sure you get your monies worth every single time, one way or another 
http://abcnews.go.com/Business/story?id=5835433&page=1
Hombre |
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Rumpl4skn
Joined: 11 Feb 2006
Posts: 2599
Location: 36° 3'N x 86°40'W
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| Posted: Fri Sep 19, 2008 8:26 am Post subject: |
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The Twin Towers reference at the end was particularly chilling. And all through it, I kept picturing those huge 2 former icons, indicating the Arabic (of all ironic adjectives) number 11.
Poppy Bush's first NWO speech before Congress was made on September 11th, 1990. Exactly, to the day, 11 years before the largest blow was deliberately struck for the NWO, on 9/11/2001.
Anyone want to place bets that 9/11/2012 - another precise 11 years later - the deal will be sealed? Would make for another tremendous "coincidence" to throw on the fire of public disbelief.
And I'm not stoned right now, btw.  |
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Fintan
Site Admin
Joined: 18 Jan 2006
Posts: 4100
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| Posted: Fri Sep 19, 2008 8:29 am Post subject: |
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Don't get the idea that Rosa Brooks is
a hero of "telling-it-as-it-is" journalism.
It's more a question of conditioning the public
for the new 'USA as an IMF-Basketcase' meme.
No less real for that though. But here's her bio:
| Quote: | Rosa Brooks is a columnist for the Los Angeles Times and a professor
at the Georgetown University Law Center, where she specializes in
international law.
In 2006-2007, Brooks took a leave of absence from Georgetown to serve
as Special Counsel to the President at the Open Society Institute in New
York. From 2001-2006, she was an associate professor at the University
of Virginia School of Law, where she taught courses in international
human rights law, criminal law, and constitutional law.
Brooks has also served as a senior advisor at the US Department of
State’s Bureau of Democracy, Human Rights and Labor, a consultant for
the Open Society Institute and Human Rights Watch, a fellow at the Carr
Center at Harvard’s Kennedy School of Government, a board member of
Amnesty International USA, a Term Member of the Council on Foreign
Relations, a lecturer at Yale Law School, and a member of the Executive
Council of the American Society of International Law. In 2004, she was
the co-director of the task force on Democracy, Development and Human
Rights Policy for the Kerry-Edwards campaign, and she currently serves
on the board of the National Security Network....
Brooks received her A.B. from Harvard in 1991 (history and literature),
followed by a master’s degree from Oxford in 1993 (social anthropology)
and a law degree from Yale in 1996.
http://rosabrooks.squarespace.com/rosa-brooks-bio/ |
It think that is informative, eh?
I've updated the audio post above with references, btw
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Rumpl4skn
Joined: 11 Feb 2006
Posts: 2599
Location: 36° 3'N x 86°40'W
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| Posted: Fri Sep 19, 2008 9:15 am Post subject: |
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| Fintan wrote: | Don't get the idea that Rosa Brooks is
a hero of "telling-it-as-it-is" journalism. |
Perish the thought, FD. Journalism (and heroes) have almost all gone the way of high-buttoned shoes. Which is why I hang here.
Brooks is simply, as you said, conditioning us for the inevitable, whilst also doing the globalists' "Way to go, asshole, you really got yourself in a pickle this time..." trash-talking for them. |
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Wu Li
Joined: 20 Feb 2007
Posts: 576
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| Posted: Fri Sep 19, 2008 10:54 pm Post subject: |
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| and i wrote: | AIG was the most alarming story to me. "Huge Company That's Highly Connected to the Events of 9/11 Borrows $40 Billion From the US Central Bank". And it gets like a 3 paragraph article once and that's that...
When will people start to realize that government, banks, and large corporations are the same entity?!? I suppose we have known for decades really... I suppose the better question is: When will we end our dependence on useless products and fiat currency? |
OHH EYE
I always appreciate your point of view
What a world we live in.
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"Fear is the passion of slaves." |
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