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Fintan
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Joined: 18 Jan 2006
Posts: 4103
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 Posted: Mon Aug 16, 2010 5:35 pm Post subject: |
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So there's a total of $1.34 trillion worth of mortgage
bonds being sold around the market with no actual
crinkly-paper, real, touchable bonds to match.
You or I do this, it's called fraud.
When it's Wall St. it's called a 'systemic' issue.
Yeah as in systemic.... fraud.
| Quote: | Fed Finding No Good Deed Goes Unpunished
With Mortgage Bond Trades Failing
By Caroline Salas and Jody Shenn - Aug 2, 2010 5:00 AM GMT
For all the good the Federal Reserve’s $1.25 trillion of mortgage-bond purchases have done, they’ve also left part of the market broken.
By acquiring about a quarter of home-loan bonds with government-backed guarantees to bolster housing prices and the U.S. economy, the Fed helped make some securities so hard to find that Wall Street has been unable to complete an unprecedented amount of trades. Failures to deliver or receive mortgage debt totaled $1.34 trillion in the week ended July 21, compared with a weekly average of $150 billion in the five years through 2009, according to Fed data.
The difficulty of executing transactions may eventually drive investors away from the $5.2 trillion mortgage-bond market, which has historically been the most liquid behind U.S. Treasuries, potentially causing yields to rise, according to Thomas Wipf, who chairs an industry group that is trying to address the problem. The unsettled trades also stand to exacerbate the damage caused by the collapse of a bank or fund.
http://www.bloomberg.com/news/2010-08-02/trades-failing.html |
It's all reminiscent of another systemic fraud.
Worth seeing if you didn't see earlier this year:
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Rumpl4skn
Joined: 11 Feb 2006
Posts: 2599
Location: 36° 3'N x 86°40'W
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| Posted: Mon Aug 16, 2010 9:17 pm Post subject: |
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lol I tried to share this on Facebook, and it wouldn't stick to my page. Shocker. 
Wonder what the giveaway text was.....
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MichaelC
Joined: 06 Jul 2006
Posts: 1855
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| Posted: Tue Aug 17, 2010 4:25 am Post subject: |
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Parasite Intel burocrats have to keep busy - your federal tax dollars at work!
http://news.yahoo.com/s/ap/20100817/ap_on_go_ca_st_pe/us_cia_videotapes
If ONLY American tax-slavers would have the balls to start to end this insanity by stopping ALL IRS income tax payments immediately! |
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Fintan
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Joined: 18 Jan 2006
Posts: 4103
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| Posted: Wed Aug 25, 2010 9:24 am Post subject: |
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NWO Financial Empire
At Implosion Tipping Point
The article below is a pretty good summary of
where we are now at. Which is:
Tipping Point of NWO Finance Implosion
I've been saying in audio that the NWO Financial Structure
was on the point of cracking, and would struggle to make it
through the summer. So here we are.
Looks like the first domino to fall will be US stocks. As the
fall is inevitable, it will be engineered on cue for maximum
insider profits, and to underpin the US treasury market.
The outcome of all this depends on whether the bondholders
of our debts (mega-wealthy & and NWO Banks) are forced to either
1) take a haircut on the debts owed --or 2) attempt to enforce debts.
There's a high risk of commodity inflation and rising interest rates to shift
us into the 'inflation' solution to the NWO's deep structural problems.
| Quote: | Hard-nosed Fed sends global markets reeling
By Ambrose Evans-Pritchard - 24 Aug 2010
The global bond markets and the twin havens of the yen and Swiss franc have been flashing warning signs for weeks, tracking leading indicators as they topple like dominoes. They always sniff trouble first
Wall Street and Western bourses have until now brushed aside worries that recovery in the US, Japan and southern Europe may be stalling – as have commodity markets – betting the lords of finance will come to the rescue with more liquidity if needed.
Equity investors learned this week that they had misjudged the risk of a relapse as fiscal stimulus wears off, and misread the willingness of the US Federal Reserve to respond. Wrongly viewing Ben Bernanke's Fed as a soft touch, they took a fresh blast of quantitative easing for granted before it was agreed.
What has emerged since the acrimonious Fed meeting on August 10 is that Bernanke was unable to marshal a consensus behind fresh QE. Seven members argued that Fed should not take such a drastic step until the economy was in serious trouble, according to Wall Street Journal Fed-watcher Jon Hilsenrath.
They settled on a compromise that the Fed should roll over holdings of bonds as they reach maturity to avoid passive tightening. But there was no deal on further action. Philadelphia's Charles Plosser grumbled that the Fed had sent "a garbled message".
More ominously, some Fed officials fear the central bank is already "pushing on a string" and does not have the means to revive the economy. Whether or not they are right, this comes as a psychological shock for investors schooled by the "Greenspan Put' into thinking that there is a deus ex machina in the wings.
Market tensions have been simmering for days. They erupted on Tuesday when Japan's yen smashed through resistance against all major currencies, reaching a 15-year peak against the US dollar. The Nikkei index buckled below 9,000 as yen strength pushed Japan's export industry deeper under water.
Yields on 10-year bonds fell to 0.92pc in Japan and record lows of 2.23pc in Germany and 2.88pc in the UK. They hit 2.47pc in the US, a Depression level. Irish spreads ballooned to the highest since the launch of EMU. Greek spreads neared 900 basis points, as if the EU's €110bn bail-out never happened.
"This has been one of the most interesting days in finance ever," said Andrew Roberts, head of credit at RBS. "We are right at the tipping point. Yields are about to collapse even further, equities are about to turn over. The end game approaches, probably in next few weeks."
In the US, the 27pc collapse in existing homes sales in July leaves no doubt that America's property market cannot stand on its own feet without the prop of homebuyer tax credits. "Home sales are in free-fall. These are truly dismal numbers," said Teunis Brosens from ING.
The overhang of unsold homes has jumped from 8.9 months' supply to 12.5, higher than at any point during the Great Recession. Over 20pc of mortgage holders are already in negative equity and home default notices hit 325,000 in July.
The Richmond Fed's manufacturing index showed a plunge in August expectations on Tuesday, with shipments dropping to 7 from 40 two months earlier, and the backlog of orders dropping to -1 from 22. This follows the Philly Fed's crash last week to -7.
Stephen Lewis from Monument Securities said bond yields have dropped further than they did in the "flight to safety" extreme of late 2008, a sign that markets fear that underlying conditions are even worse today than they thought then. "Now they fear the global economy will remain in the mire for decades," he said.
For the Japanese this has become a nightmare. Their V-shaped rebound has been cut off short of its 2008 peak. Growth stalled to just 0.1pc in the second quarter. Unemployment has been rising for four months.
Yet it is their curse to have a currency that strengthens at the wrong time, pushing them deeper into deflation. The Japanese repatriate their foreign wealth in storms, driving up the yen. The dollar-yen rate hit ¥83.6 yesterday, prompting ever warnings from Toyko that intervention nears. Finance minister Yoshihiko Noda said the moves were "disorderly" and posed a threat to stability. "I am watching currencies with great interest," he said.
Goldman Sachs said the yen was now overvalued by 20pc, or two "standard deviations" out of kilter. It was even more over-valued against the dollar in the mid-1990s but that is scarcely relevant. Over 60pc of Japan's rebound in exports has been driven by Asia, and only 13pc by the US. What matters is the yen rate against China's yuan. That has reached a crucifying ¥12.4. The vice grips ever deeper.
Link |
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Last edited by Fintan on Wed Aug 25, 2010 10:47 am; edited 2 times in total |
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Fintan
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Joined: 18 Jan 2006
Posts: 4103
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| Posted: Wed Aug 25, 2010 10:02 am Post subject: |
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Here's what the money man
from Morgan Stanley says:
| Quote: | Debt/GDP ratios are too backward-looking and considerably
underestimate the fiscal challenge faced by advanced economies’
governments. On the basis of current policies, most governments are
deep in negative equity.
This means governments will impose a loss on some of their
stakeholders, in our view. The question is not whether they will renege on
their promises, but rather upon which of their promises they will renege,
and what form this default will take.
So far during the Great Recession, sovereign (and bank) senior unsecured bond holders have been the only constituency fully protected from partaking in this loss. It is overly optimistic to assume that this can continue forever.
The conflict that opposes bond holders to other government stakeholders is more intense than ever, and their interests are no longer sufficiently
well aligned with those of influential political constituencies....Investors
should be prepared to face financial oppression, a credible threat against
which current yields provide little protection.
- Arnaud Mares, Morgan Stanley |
| Quote: | Whether and when bond holders are asked to share in
the common pain – not just in Greece – depends on:
The intensity of the conflict that opposes them to other
stakeholders. As discussed earlier, this is likely stronger
than it has ever been; and
The extent to which the interests of bond holders are
aligned with those of the most politically influential
constituencies. |
Check out page 2 and 3
(and Chart on Page 3)...
to see how the most bankrupt governments
in the world on a Debt/Revenue basis are.....
THE most bankrupt: U.S.A. 358%
Second most bankrupt: Greece 312%
Third most bankrupt is: Ireland 248%
Fourth most bankrupt: Italy 187%
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Minds are like parachutes.
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Last edited by Fintan on Wed Aug 25, 2010 10:49 am; edited 2 times in total |
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MichaelC
Joined: 06 Jul 2006
Posts: 1855
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| Posted: Wed Aug 25, 2010 10:23 am Post subject: |
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This is because the legitimate costs of government are perhaps 10% of the actual costs. Cut the 'pork' and the 'problem' is solved.
Chances of this every happening? Can you say "minus zero"?
The things that are NEVER cut? Any significant vote-getting schemes. |
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MichaelC
Joined: 06 Jul 2006
Posts: 1855
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| Posted: Thu Aug 26, 2010 1:52 pm Post subject: |
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Swiss franc/Euro at an all-time high now?
The highest in at least 11 years (assuming they are using the DM for before 2000?) Why?
People piling into Switzerland, buying property?
Maybe because it is possibly the only country where the people have all the power and the federal government/politicians have very little?
http://finance.yahoo.com/echarts?s=CHFEUR=X#chart1:symbol=chfeur=x;range=my;indicator=ema%28200%29+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined |
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Fintan
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Joined: 18 Jan 2006
Posts: 4103
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| Posted: Mon Sep 06, 2010 9:32 am Post subject: |
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Flawed 'Stimulus' Logic Explained in 30 Seconds
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MichaelC
Joined: 06 Jul 2006
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| Posted: Tue Sep 07, 2010 1:23 pm Post subject: |
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Speaking of 'stimulus'....why did this immediately make me think of Hitler's 1930s 'infrastructure building plans'?
http://www.bbc.co.uk/news/world-us-canada-11203656
High speed rail for anything other than certain parts of the eastern seaboard is a total and insane waste of taxslaver money. |
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duane
Joined: 07 Mar 2007
Posts: 511
Location: western pennsylvania
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Fintan
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Joined: 18 Jan 2006
Posts: 4103
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| Posted: Fri Sep 24, 2010 5:07 pm Post subject: |
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Landmark Global Shift To Crisis Phase 2
by Fintan Dunne - 24th September, 2010
Landmark moves in financial markets in the last week indicate the
first phase is OVER in the global response to the 2008 implosion of
leverage in US financials.
LANDMARKS:
Event 1) Japanese intervention to drive down Yen.
Event 2) Gold spikes to new all record highs.
Event 3) Brazil currency intervention to purchase dollars.
In the wake of the 2008 collapse, nations did not want to rock the boat
in the middle of the storm. So they acted in concert to enhance systemic
integrity. Now their long term responses are emerging.
China has purchased Japanese assets and engineered Japan into a
defensive currency move in response. Brazil upped their currency game
within days, along with existing currency players like South Korea and
Taiwan. The floodgates are open for global currency war, fiat weakness,
commodity inflation and more. Gold's move to record highs merely
confirms the implications and underlying dynamic.
CONSEQUENCES:
1) Competitive devaluations between currencies.
2) Commodity price increases globally, driving inflation.
3) Gold surge to continue - leading to eventual fiat integration.
4) US stocks to hold steady, bond market uncertain.
5) Increasing trade tensions but not full trade war.
OUTLOOK:
There is potential for a coordinated move by Brazil, India, China, South
Africa and other non-aligned nations to damage NWO financial centers.
November US elections likely to elect 'Tea Party' representatives in high
numbers. US bond market implications as global investors see this
anti-tax shift means little prospect of higher taxes to service US debt.
Likely also causing weakness in the US Dollar. More on this at:
http://bit.ly/US-Tops-Busted-Nations-List
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Fintan
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Joined: 18 Jan 2006
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| Posted: Mon Sep 27, 2010 8:05 pm Post subject: |
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| Quote: | Insider Selling To Buying Surpasses 1,400-1
by Tyler Durden on 09/27/2010 09:56 -0500
For all those who thought last week's "dramatic" improvement in the ratio
of insider selling to buying from 650:1 to "just" 290:1 was a sign things are
turning and insiders may soon be selling only 100 or so times more stock
per week than buying, we have some bad news.
According to Bloomberg, the latest ratio of insider selling to buying was
1,411 to 1. Let us repeat: 1,411 to 1. Needless to say, corporate insiders
are totally buying the Fed reflation story, and the economic recovery.
Like, totally......
http://www.zerohedge.com/article/insider-selling-buying-surpasses-1400-1 |
From Amazon to Zimmer Holdings; from Coca Cola to SAIC,
corporate insiders are dumping shares by the barrow-load.
But hold on....
Isn't the market certain that there's a "Bernanke Put" in place to ensure
the stock market holds up until after the Nov 4th US election?
So why the unseemly haste by corporate boardroom types to cash out?
Maybe because the implications of what is going to happen electorally
in a little over a month are dire for shares, dire for the corporate monopoly
on money; and dire for the share casino of Wall St....
No more easy money for those with influence. The people are about to
draw a line in the sand, and halt the runaway train wrecking America...
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atm
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MichaelC
Joined: 06 Jul 2006
Posts: 1855
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| Posted: Tue Sep 28, 2010 5:48 am Post subject: |
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Although anything from Rolling Stone is at best questionable, I scanned the story out of curiosity and saw that, as expected, there is no mention of the real problem.
Which is that ALL taxslaver-forced bailouts of private enterprises need to be stopped at once. This includes deposit 'insurance', the auto industry, wars to secure drug routes for the narco cartel, wars to open up new markets for the banking cartel, etc etc etc.
Basically: Stop forcing the producers to subsidize the parasites. |
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Fintan
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Joined: 18 Jan 2006
Posts: 4103
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| Posted: Mon Oct 18, 2010 5:45 pm Post subject: |
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And so the stock market surge ramps onward.
(outperformed only by gold in recent months)
Some of that performance is down to anticipation
that shares will be worth more in local dollar terms,
due to a slide in the value of the dollar, and that
the Fed is backing asset inflation....
But even as the market rises, all corporate insiders
are selling their shares and none of them are buying.
| Quote: | Insider Selling To Buying Update: 2,019 To 1
Submitted by Tyler Durden on 10/18/2010 10:36 -0500
Just when everyone thought we may see some moderation in the wholesale dumping of equities by those who actually know what their companies are worth better than moronic stock pumpers on stations that are rapidly losing their viewership, here come the same insiders and pull the rug right from underneath the latest batch of hot potato recipients (that would be various collocated computers mostly, and involuntary taxpayers course).
Two weeks ago, insiders sold "only" 1,169 times more than they bought. Alas, last week selling apparently is the new black again, with selling outpacing buying on the S&P by a factor of 2,018.
Insiders in Oracle, GameStop, Google, CSX and General Mills appear to be particularly partial to the new black. Something tells us CNBC will not pick up this particular piece of news.
http://www.zerohedge.com/article/insider-selling-buying-update-2019-1 |
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