20 January 2012
Peter Schiff: U.S. Will Never Pay Off Debt
Posted by Brittany Stepniak - Friday, January 20th, 2012
See how one of America's most popular video bloggers, Peter Schiff – stock broker, economist and author – uses humor in a critical commentary of the U.S. government, debt, and China.
In his argument, he explains how foolish China was for lending to such a debt-ridden nation.
Does anyone truly believe we intend, and will succeed, in paying off our $15+ trillion in debt? Here's what would have to happen for that far-fetched fairytale to actually come to fruition...
See how one of America's most popular video bloggers, Peter Schiff – stock broker, economist and author – uses humor in a critical commentary of the U.S. government, debt, and China.
In his argument, he explains how foolish China was for lending to such a debt-ridden nation.
Does anyone truly believe we intend, and will succeed, in paying off our $15+ trillion in debt? Here's what would have to happen for that far-fetched fairytale to actually come to fruition...
QE3, $2,200 Gold, and the Trillion Dollar Bazooka
January 20, 2012
By Peter Krauth, Global Resources Specialist, Money Morning
It's the beginning of a new year, and there's no shortage of big headlines...
Europe is on the financial brink, Iran is a powder keg, and precious metals like gold have retreated.
It's also a time when there is no shortage of financial forecasts.
Even though these kinds of predictions about the future can be tough to make, I'll admit it's kind of fun to look forward and see what the future may hold.
Like in December 2010, when I said I expected gold to reach $1,900/oz in 2011. Some people thought that I was crazy. At the time, gold was trading for just $1,390/oz.
But just nine months later, that turned out to be a pretty good call as gold hit a new high of $1,923/oz. before eventually pulling back.
Better yet, in January 2010, I even said gold would eventually top $5,000. Of course, most people thought that call was preposterous.
Now, even Standard Chartered bank's analysts expect gold to climb to $5,000.
By Peter Krauth, Global Resources Specialist, Money Morning
It's the beginning of a new year, and there's no shortage of big headlines...
Europe is on the financial brink, Iran is a powder keg, and precious metals like gold have retreated.
It's also a time when there is no shortage of financial forecasts.
Even though these kinds of predictions about the future can be tough to make, I'll admit it's kind of fun to look forward and see what the future may hold.
Like in December 2010, when I said I expected gold to reach $1,900/oz in 2011. Some people thought that I was crazy. At the time, gold was trading for just $1,390/oz.
But just nine months later, that turned out to be a pretty good call as gold hit a new high of $1,923/oz. before eventually pulling back.
Better yet, in January 2010, I even said gold would eventually top $5,000. Of course, most people thought that call was preposterous.
Now, even Standard Chartered bank's analysts expect gold to climb to $5,000.
Nomi Prins: Bailouts + Downgrades = Austerity and Pain
Tuesday, January 17, 2012 at 5:07PM
The markets (read: traders with big books at mega financial firms and hedge funds) weren’t particularly shocked by last week’s wave of heavily pre-broadcast S&P sovereign debt downgrades. For months, the question wasn’t ‘if’, but ‘when.’ True to form, just as with the US downgrade, S&P’s reasons skated the surface of prevailing wisdom – governments have too much debt, and not enough income. That’s only a fraction of the story.
Nowadays, when any sovereign (including the US) gets downgraded by a rating agency, it's not just because its debt repayment ability is questionable (the publicized logic of rating agencies), but because it incurred more expensive debt to float its banking system. It chose to subsidize banks over people.
The S&P likes moving on Friday nights. It was on a Friday night that it downgraded US debt to AA+ from AAA. On Friday night, January 13, 2012, it downgraded France and Austria from AAA to AA+, and 7 other European countries, too; Cyprus, Italy, Portugal, and Spain by two notches; Malta, Slovakia, and Slovenia, by one notch. Portugal, Cyprus, Ireland and Greece are at junk status. Germany’s AAA rating is intact.
Nowhere in S&P’s statement about “global economic and financial crisis”, did it clarify that sovereigns were hit due to backing their largest national banks (and international, US ones) which engaged in half a decade of leveraged speculation. But here’s how it worked:
The markets (read: traders with big books at mega financial firms and hedge funds) weren’t particularly shocked by last week’s wave of heavily pre-broadcast S&P sovereign debt downgrades. For months, the question wasn’t ‘if’, but ‘when.’ True to form, just as with the US downgrade, S&P’s reasons skated the surface of prevailing wisdom – governments have too much debt, and not enough income. That’s only a fraction of the story.
Nowadays, when any sovereign (including the US) gets downgraded by a rating agency, it's not just because its debt repayment ability is questionable (the publicized logic of rating agencies), but because it incurred more expensive debt to float its banking system. It chose to subsidize banks over people.
The S&P likes moving on Friday nights. It was on a Friday night that it downgraded US debt to AA+ from AAA. On Friday night, January 13, 2012, it downgraded France and Austria from AAA to AA+, and 7 other European countries, too; Cyprus, Italy, Portugal, and Spain by two notches; Malta, Slovakia, and Slovenia, by one notch. Portugal, Cyprus, Ireland and Greece are at junk status. Germany’s AAA rating is intact.
Nowhere in S&P’s statement about “global economic and financial crisis”, did it clarify that sovereigns were hit due to backing their largest national banks (and international, US ones) which engaged in half a decade of leveraged speculation. But here’s how it worked:
SilverDoctors: Inflation: The Only Tool Left
SilverDoctors: Inflation: The Only Tool Left: The global financial crisis continues without solution and unending series of moderate calamities the Greek Govt Bond default appears to b...
Fed Expected to Enact $1-Trillion-Worth of Easing
Posted by Brittany Stepniak - Thursday, January 19th, 2012
In order to stimulate our economy, it sounds like the Fed plans to pump-it-up with a $1 trillion easing project.
And it could happen as early as this month...
CNBC reports:
"There seems little point in waiting to implement further easing, and to do so could confuse the message the Fed is trying to deliver at a point in time when it is trying to make its communication with the public clearer," he said.
Next week, the Fed's Open Market Committee will meet to discuss matters further. Meanwhile “expectations are rising that the languishing housing market will drive the central bank to buy up mortgage-backed securities.”
The aim of those purchases will be to push interest rates even further and to indirectly induce confidence that there are more “monetary tools” that can revive the economy.
In order to stimulate our economy, it sounds like the Fed plans to pump-it-up with a $1 trillion easing project.
And it could happen as early as this month...
CNBC reports:
"There seems little point in waiting to implement further easing, and to do so could confuse the message the Fed is trying to deliver at a point in time when it is trying to make its communication with the public clearer," he said.
Next week, the Fed's Open Market Committee will meet to discuss matters further. Meanwhile “expectations are rising that the languishing housing market will drive the central bank to buy up mortgage-backed securities.”
The aim of those purchases will be to push interest rates even further and to indirectly induce confidence that there are more “monetary tools” that can revive the economy.
Price Manipulation: Look for Motive
The Silver Arbitrageurs
In the 1970's Alan Rosenberg, a coin dealer, sold dollar bills that were silver certificates to a firm called Metals Quality. At the time, the Federal Reserve converted dollar silver certificates to a set amount of silver. Before the Fed finally discontinued the conversion, the converted silver was worth more than a dollar. The difference became great enough that it paid to buy up the certificates for slightly more than a dollar, convert the certificates to silver, and sell the silver for a profit. This is one of the rare instances of a true arbitrage.
Not everyone wanted to go through the trouble of handling the conversion, so people like Rosenberg collected certificates and sold them for more than one dollar each, but for less than the price of the silver represented by the certificate. It was worth it to Rosenberg to have someone else do the work of squeezing out the last bit of value.
That's where Metals Quality came in. It bought certificates from coin dealers and currency exchanges and handled the conversion to silver and sold the silver for a profit. Metals Quality paid Rosenberg for his silver certificates based on the first Comex price of silver for the day (less something for the trouble of the conversion and some profit). It made no difference whether the first price of the day was based on one contract or 100 contracts. Each contract represents 10,000 ounces of silver.
In the 1970's Alan Rosenberg, a coin dealer, sold dollar bills that were silver certificates to a firm called Metals Quality. At the time, the Federal Reserve converted dollar silver certificates to a set amount of silver. Before the Fed finally discontinued the conversion, the converted silver was worth more than a dollar. The difference became great enough that it paid to buy up the certificates for slightly more than a dollar, convert the certificates to silver, and sell the silver for a profit. This is one of the rare instances of a true arbitrage.
Not everyone wanted to go through the trouble of handling the conversion, so people like Rosenberg collected certificates and sold them for more than one dollar each, but for less than the price of the silver represented by the certificate. It was worth it to Rosenberg to have someone else do the work of squeezing out the last bit of value.
That's where Metals Quality came in. It bought certificates from coin dealers and currency exchanges and handled the conversion to silver and sold the silver for a profit. Metals Quality paid Rosenberg for his silver certificates based on the first Comex price of silver for the day (less something for the trouble of the conversion and some profit). It made no difference whether the first price of the day was based on one contract or 100 contracts. Each contract represents 10,000 ounces of silver.
Gingrich Goes for Gold
Editorial of The New York Sun | January 18, 2012
The call by Newt Gingrich for the creation of a commission on gold to examine how America can return to a system of hard money is a step forward for him and the Republican Party as we go into the most formative months of the campaign. The former speaker issued his call at Columbia, South Carolina, at a policy forum on American global leadership. He used the phrase “hard money” to speak of a gold standard of the kind the Founders of America had in mind. It would mean, he said, “you can’t just hide from your problems. You’ve got to solve them.”
The call by Newt Gingrich for the creation of a commission on gold to examine how America can return to a system of hard money is a step forward for him and the Republican Party as we go into the most formative months of the campaign. The former speaker issued his call at Columbia, South Carolina, at a policy forum on American global leadership. He used the phrase “hard money” to speak of a gold standard of the kind the Founders of America had in mind. It would mean, he said, “you can’t just hide from your problems. You’ve got to solve them.”
Vampire Hedge Funds Are Sucking Greece Dry
If Goldman Sachs is a vampire squid, as Matt Taibbi so aptly named it, then hedge funds are like piranhas or sharks, eager to strip the financial carcass to the bone.
Who are the real villains on Wall Street? When it comes to institutionalized greed and corruption, nothing tops the too-big-to-fail banks like JP Morgan Chase, Bank of America and Goldman Sachs. But these financial giants form only one part of the financial oligarchy. Lurking in the shadows are aggressive hedge funds that are just as lethal to our economic well being. If Goldman Sachs is a vampire squid, as Matt Taibbi so aptly named it, then hedge funds are like schools of piranhas or sharks, eager to strip the financial carcass to the bone.
Who are the real villains on Wall Street? When it comes to institutionalized greed and corruption, nothing tops the too-big-to-fail banks like JP Morgan Chase, Bank of America and Goldman Sachs. But these financial giants form only one part of the financial oligarchy. Lurking in the shadows are aggressive hedge funds that are just as lethal to our economic well being. If Goldman Sachs is a vampire squid, as Matt Taibbi so aptly named it, then hedge funds are like schools of piranhas or sharks, eager to strip the financial carcass to the bone.
The Intrinsic Value of the Dollar and Gold
By: Michael Pento
If you ask most investors what is the main driver for the price of gold they are likely to tell you that it’s the direction of the U.S. dollar. Therefore, the only due diligence most investors perform is a perfunctory glance at the Dollar Index (DXY). While it is true that the purchasing power of the dollar is a key metric to judge the direction of gold prices, the DXY will only tell you what the dollar is doing against a basket of 6 other flawed fiat currencies.
The main component of the Dollar Index is the Euro Currency, which represents a 58% weighting in the basket of currencies. It logically follows, if the Euro is tanking, the Dollar Index could increase regardless of the fundamental condition of the U.S. dollar. In order to truly access the intrinsic change in the value of the dollar you must first determine; the level and direction of real interest rates, the rate of growth in the money supply and the fiscal health of the government. When analyzing the dollar using those metrics, it is clear that the intrinsic value of the dollar is eroding in an expedited manner.
If you ask most investors what is the main driver for the price of gold they are likely to tell you that it’s the direction of the U.S. dollar. Therefore, the only due diligence most investors perform is a perfunctory glance at the Dollar Index (DXY). While it is true that the purchasing power of the dollar is a key metric to judge the direction of gold prices, the DXY will only tell you what the dollar is doing against a basket of 6 other flawed fiat currencies.
The main component of the Dollar Index is the Euro Currency, which represents a 58% weighting in the basket of currencies. It logically follows, if the Euro is tanking, the Dollar Index could increase regardless of the fundamental condition of the U.S. dollar. In order to truly access the intrinsic change in the value of the dollar you must first determine; the level and direction of real interest rates, the rate of growth in the money supply and the fiscal health of the government. When analyzing the dollar using those metrics, it is clear that the intrinsic value of the dollar is eroding in an expedited manner.
Netanyahu: Iran has decided to become a nuclear state. Action needed before it is too late.
DEBKAfile Exclusive Report January 19, 2012, 6:56 PM (GMT+02:00)
Prime Minister Benjamin Netanyahu declared Thursday night, Jan. 19 that Iran had decided to become a nuclear state. He urged action before it was too late to stop Iran completing the construction of a nuclear weapon. His statement at the end of a visit to Holland gave Gen Martin Dempsey, on his first visit to Israel as Chairman of the US Joint Chiefs of Staff, the message he will be asked to take back to President Barack Obama. It also contradicted Defense Minister Ehud Barak's statement that Tehran had not yet decided to go nuclear.
On Dec. 22, 2011, debkafile first revealed Tehran had reached a decision to go ahead and build a nuclear weapon.
Netanyahu has kept the Iranian cards close to his chest. His statement therefore caught wrong-footed the Israeli officials, including Defense Minister Ehud Barak, who in the last 48 hours had asserted that Iran had not yet decided whether to build a nuclear bomb and there was still time for US-led sanctions to work.
Prime Minister Benjamin Netanyahu declared Thursday night, Jan. 19 that Iran had decided to become a nuclear state. He urged action before it was too late to stop Iran completing the construction of a nuclear weapon. His statement at the end of a visit to Holland gave Gen Martin Dempsey, on his first visit to Israel as Chairman of the US Joint Chiefs of Staff, the message he will be asked to take back to President Barack Obama. It also contradicted Defense Minister Ehud Barak's statement that Tehran had not yet decided to go nuclear.
On Dec. 22, 2011, debkafile first revealed Tehran had reached a decision to go ahead and build a nuclear weapon.
Netanyahu has kept the Iranian cards close to his chest. His statement therefore caught wrong-footed the Israeli officials, including Defense Minister Ehud Barak, who in the last 48 hours had asserted that Iran had not yet decided whether to build a nuclear bomb and there was still time for US-led sanctions to work.
China to aid Saudi Arabia in nuclear power development
INTERNATIONAL. Ever since the end of World War Two, the U.S. has come to regard Saudi Arabia as almost its exclusive oil producing enclave.
In February 1945, after the Yalta Conference with Soviet General Secretary Iosif Stalin and British Prime Minister Winston Churchill, on his way home U.S. President Franklin Delano Roosevelt and King Ibn Saud met aboard the New Orleans-class heavy cruiser U.S.S. Quincy in the Suez Canal's Great Bitter Lake.
During the meeting, instigated by Roosevelt, he and Ibn Saud concluded a secret agreement in which the U.S. would provide Saudi Arabia military security, including military assistance, training and a military base at Dhahran in Saudi Arabia, in exchange for secure access to supplies of oil.
Sixty-seven years later, my, how things have changed, as China is now muscling into the Kingdom.
On 15 January Visiting Chinese Premier Wen Jiabao and Saudi Arabian King Abdullah bin Abdul Aziz agreed to make concerted efforts to enhance bilateral relations.
In February 1945, after the Yalta Conference with Soviet General Secretary Iosif Stalin and British Prime Minister Winston Churchill, on his way home U.S. President Franklin Delano Roosevelt and King Ibn Saud met aboard the New Orleans-class heavy cruiser U.S.S. Quincy in the Suez Canal's Great Bitter Lake.
During the meeting, instigated by Roosevelt, he and Ibn Saud concluded a secret agreement in which the U.S. would provide Saudi Arabia military security, including military assistance, training and a military base at Dhahran in Saudi Arabia, in exchange for secure access to supplies of oil.
Sixty-seven years later, my, how things have changed, as China is now muscling into the Kingdom.
On 15 January Visiting Chinese Premier Wen Jiabao and Saudi Arabian King Abdullah bin Abdul Aziz agreed to make concerted efforts to enhance bilateral relations.
Moody’s Warns of Further Downgrades: Big Banks
By Moran Zhang: Subscribe to Moran's RSS feed
January 19, 2012 5:55 PM EST
Moody's Investors Service warned Thursday that many European banks and global investment banks are likely to see their credit ratings further downgraded by the agency.
"The expected decline of bank ratings reflects the acceleration of interrelated pressures on the banking sector since the second half of 2011," said Greg Bauer, Moody's global banking managing director, in a statement.
"These pressures most immediately affect global capital markets intermediaries and European banks," Bauer said.
January 19, 2012 5:55 PM EST
Moody's Investors Service warned Thursday that many European banks and global investment banks are likely to see their credit ratings further downgraded by the agency.
"The expected decline of bank ratings reflects the acceleration of interrelated pressures on the banking sector since the second half of 2011," said Greg Bauer, Moody's global banking managing director, in a statement.
"These pressures most immediately affect global capital markets intermediaries and European banks," Bauer said.
Will China unleash more stimulus and boost gold, silver prices?
By Eric McWhinnie
China reported GDP growth of 8.9 percent in the last quarter of 2011 on Tuesday, which is the slowest growth increase in more than two years. Although analysts were only expecting growth of 8.7 percent, the slowdown gave investors hope that the world’s second largest economy will inject more stimulus into its economy to fuel growth. As a result, Gold jumped $24 to climb above $1,650 per ounce, while Silver surged 60 cents to settle above $30 per ounce. However, investors should reign in expectations of more stimulus being unleashed in China during the early part of 2012.
The last time China experienced a significant slowdown was towards the end of 2008. Over the next two years, China provided four trillion yuan ($586 billion) in stimulus money to boost growth. While investors may be expecting another replay of stimulus, China is indicating that the current slowdown is not significant enough, and inflation is still a concern. On Wednesday, the China Securities Journal said the nation has no reason to slash interest rates in the first quarter of 2012, because real interest rates remain negative. The journal explains, “Any change in China’s interest rates will come at a more appropriate time window, when inflation eases further and when economic growth slows down further.”
China reported GDP growth of 8.9 percent in the last quarter of 2011 on Tuesday, which is the slowest growth increase in more than two years. Although analysts were only expecting growth of 8.7 percent, the slowdown gave investors hope that the world’s second largest economy will inject more stimulus into its economy to fuel growth. As a result, Gold jumped $24 to climb above $1,650 per ounce, while Silver surged 60 cents to settle above $30 per ounce. However, investors should reign in expectations of more stimulus being unleashed in China during the early part of 2012.
The last time China experienced a significant slowdown was towards the end of 2008. Over the next two years, China provided four trillion yuan ($586 billion) in stimulus money to boost growth. While investors may be expecting another replay of stimulus, China is indicating that the current slowdown is not significant enough, and inflation is still a concern. On Wednesday, the China Securities Journal said the nation has no reason to slash interest rates in the first quarter of 2012, because real interest rates remain negative. The journal explains, “Any change in China’s interest rates will come at a more appropriate time window, when inflation eases further and when economic growth slows down further.”
Greece and a report on the PSI/IMFGlobal/Bank of America earnings farce
Good evening Ladies and Gentlemen:
Gold closed down today to the tune of $5.40 dollars finishing the comex session at $1654.10 Silver finished down 4 cents to $30.48.
Today the raid was a no brainer on behalf of the bankers as we witnessed a huge run up in open interest and that is fodder for these crooks. Gold bounced off the $1650 price level four times today. The weak gold and silver shares today probably foreshadows another raid. Let us head over to the comex and assess trading, open interest positions, inventory movements and amounts of metal standing.
The total comex gold open interest rose by 5552 contracts to rest tonight at 438,390. Please remember that we are always 24 hours back with respect to OI so in reality the closing figure of 438,390 OI is in reality the official OI for yesterday. The front options expiry month of January saw its OI fall from 31 to 16 for a loss of 15 contracts. We had 7 delivery notices filed yesterday so we lost 8 contracts or 800 oz to cash settlements. The next big delivery month is February as first day notice is less than 2 weeks away. Here the OI fell by 4000 contracts to 160,113 contracts. The estimated volume at the comex today was very weak coming in at 145,097. The confirmed volume yesterday was a touch better at 186,277 despite many rollovers on both days.
The total silver comex OI fell by 798 contracts to 102,870. Silver is trading differently these past few weeks and we are witnessing this through the OI. It appears that all the silver OI is in strong hands.
The front options expiry month of January mysteriously saw its OI rise from 81 to 175 for a gain of 94 contracts. We had 12 delivery notices yesterday so we gained 106 silver additional contracts standing for delivery or 530,000 oz. Someone was in great need of physical silver today. The next big delivery month is March and here the OI fell by 1200 contracts to 53,240 contracts. The estimated volume today was a very weak 30,713. The confirmed volume yesterday was also weak at 46,029. Leverage in silver has disappeared as business is leaving the comex to other jurisdictions.
How will China's Pan Asian Gold Exchange Revolutionize Gold and Silver Trading?
Commodities / Gold and Silver 2012 Jan 18, 2012 - 02:45 AM
PAGE which stands for Pan Asian Gold Exchange was set up in 2011 and has already begun operations with local Chinese buying and selling of gold through the internet. PAGE is located in Kunming, the capital city of Yunnan Province located in South Western China and is also the major gateway to South East Asia.
This gold exchange will enable ordinary Chinese buy/sell gold using a Renminbi account with a bank or broker. Currently there are two banks that are authorized to process the transactions or settlements and they are the Agriculture Bank of China and The Fudian Bank of Yunnan. The 10 ounce mini contracts will be known as T+D and the price is RMB 30,000 for 1 lot and it is fully backed by the Chinese government.
Also on offer is the Silver contract which is a five hundred ounce silver mini contract.
PAGE is not something that can be taken lightly as it is part of China’s 12th five year plan to catapult China to be the Global Superpower in Economics, Politics and Military.
Currently Shanghai Gold Exchange and Shanghai Futures Exchange are the only avenues for an ordinary Chinese citizen to buy gold. With the PAGE, now they will be able to buy gold through their computers online. Initially the scheme will be open to the 320 million customers of the Agriculture Bank of China.
Eventually foreigners will also be able to trade the International Spot Contracts on PAGE and hence this will help increase the liquidity of the market and certainly will have a big impact on both the LBMA and COMEX . With PAGE the purchaser will receive a 90 days International Spot Contract with the actual title bearing the name of the purchaser. All transactions initiated either by a local or foreigner will be denominated in RMB. Investors are given a choice to take physical delivery or get paid in RMB.
By: Sam_Chee_Kong
This gold exchange will enable ordinary Chinese buy/sell gold using a Renminbi account with a bank or broker. Currently there are two banks that are authorized to process the transactions or settlements and they are the Agriculture Bank of China and The Fudian Bank of Yunnan. The 10 ounce mini contracts will be known as T+D and the price is RMB 30,000 for 1 lot and it is fully backed by the Chinese government.
Also on offer is the Silver contract which is a five hundred ounce silver mini contract.
PAGE is not something that can be taken lightly as it is part of China’s 12th five year plan to catapult China to be the Global Superpower in Economics, Politics and Military.
Currently Shanghai Gold Exchange and Shanghai Futures Exchange are the only avenues for an ordinary Chinese citizen to buy gold. With the PAGE, now they will be able to buy gold through their computers online. Initially the scheme will be open to the 320 million customers of the Agriculture Bank of China.
Eventually foreigners will also be able to trade the International Spot Contracts on PAGE and hence this will help increase the liquidity of the market and certainly will have a big impact on both the LBMA and COMEX . With PAGE the purchaser will receive a 90 days International Spot Contract with the actual title bearing the name of the purchaser. All transactions initiated either by a local or foreigner will be denominated in RMB. Investors are given a choice to take physical delivery or get paid in RMB.
SilverDoctors: Brink's Magically Adjusts 140,248 Ounces of Silver...
SilverDoctors: Brink's Magically Adjusts 140,248 Ounces of Silver...: Brink's reported identical adjustments of 70,124 ounces into both registered and eligible vaults Wednesday, with no corresponding accounting...
SilverDoctors: A Long Term Perspective of Gold's Supply/Demand Fu...
SilverDoctors: A Long Term Perspective of Gold's Supply/Demand Fu...: From Nomura A new era for gold producers Initiating coverage of the Europeangold sector with a Bullish rating In this Anchor Report, we u...
SilverDoctors: MF Global Commodity Customers Must Be Paid First, ...
SilverDoctors: MF Global Commodity Customers Must Be Paid First, ...: Nearly three months after the bankruptcy/ theft, the CFTC has suddenly decided to stand up for the investors who were fleeced at MF Global??...
Keiser Report: Scam On Epic Scale (E238)
In this episode, Max Keiser and co-host, Stacy Herbert, discuss 419 scams and Tim Geithner's gimp. In the second half of the show, Max talks to financial blogger and semi-retired Wall Street executive Warren E. Pollock about MF Global, wealth confiscation and bank holidays.
SilverDoctors: Anonymous Takes Down DOJ, FBI, Numerous Media Site...
SilverDoctors: Anonymous Takes Down DOJ, FBI, Numerous Media Site...: Apparently Anonymous is not taking the SOPA legislation and yesterday's strong-arm tactics by the Fed's against Megaupload without a fight. ...
Subscribe to:
Posts (Atom)