THIS IS BASED ON
50 YEARS CYCLES AND WAS SHOWN TO ME
LAWRENCE HARMEN =
ABBA'SWATCHMAN IN YEAR 2000!
This was copy righted in
1992 and was written by Ehor Mazurok ... Look familiar !!!
for the tribulation period or the mother of all depressions !
This graph can't take into account the soon to come nuclear attack
which involves the whole world !
about to see a Global Economic disaster .
2 Timothy 1:7 For
God hath not
given us the spirit of fear;
but of power,
and of love,
and of a sound mind.
This information is
stressful so come read when you feel strong as these wicked people who
are doing all this by design want to cause you to fear because stress
is a great immune system destroyer so be strong do not fear and come
only when you are strong but tell others to come as well. Weak people
are easily controlled.
You had better
start buying food and storing it fast
Some members raised
the possibility that the short-term interest rate,
also known as the federal funds rate, could be increased sooner than
the unemployment rate is expected to fall below 6.5%. The federal
funds rate has been at 0% since 2008.
However, most members remained committed to keeping rates low for the
Current Federal Reserve chair Janet Yellen is set to lead her
first meeting when
the FOMC next meets in March.
Lharmen - they again agreed to
shut down another 10 billion bringing it down to 55 billion a month
they prop the markets up with. This to happen in March. March 20th is
the end of winter in the Northern hemisphere <- Just a note. Pray your
flight is not in winter. Today, In Jerusalem, winter is over and
scripture is written for Jerusalem as there is always winter somewhere
in the World. Janet Yell en is taking over the fed for the March
meeting and as I wrote it she will be
yellen "shit" when it hits the financial
markets fan soon. A women did it . A women did it... the World will be
yell en. A Blackman did it and a Women did it is to frame blacks and
women for the coming disasters. Never forget God told us Devils did
it... four of them bring the Whole World to battle = Armageddon and
Armageddon is not the end it will just look like it.
the house of cards crashing down with another 10 billion cut.
The crash started
on the back of the last taper and now Japan is crashing badly 2300
point loss up to today Feb 5th . Now with the debt ceiling days away =
Feb 7th to be reinstated then the fed will run out of money fast from
there on out unless the Debt ceiling is lifted immediately - Lharmen
Awesome article summing it up
perfectly! They will have to taper sooner or later and they look to be
using it as the trigger for the coming, by design, collapse.
Dec 17th could
bring about the crash the illuminati are showing us will take place at
the time of the war coverage - Lharmen
First the crash then the war - Lharmen
Click to enlarge the first one
shows Market Plunge
and the second one shows War Coverage
in the reflection. The illuminati Satanists always expose
900,000 U.S. military veterans will lose
some or all of their Supplemental Nutritional Assistance Program
(SNAP) benefits on Friday. According to
Think Progress, the program — more commonly known as food stamps —
will be cut by $5 billion thanks to budget shortfalls caused by the
Nov. 1 expiration of 2009 stimulus funding initiated by President
Lharmen it will lead quickly to the U.S. dollar free fall that has
been planned from th start to bring on Martial Law. If the Fed
defaults and shutters its doors and we can see it will default before
Nov. They print the money for all banks. World wide famine will begin
if they shut down.
2 Timothy 3:1
This know also, that in the last days
perilous times shall come.
2 For men shall be lovers of their own
selves, covetous, boasters, proud,
blasphemers, disobedient to parents, unthankful, unholy,
3 Without natural affection,
trucebreakers, false accusers,
incontinent, fierce, despisers of those
that are good,
4 Traitors, heady,
highminded, lovers of pleasures more than lovers
5 Having a form of godliness,
but denying the power thereof: from such turn
heady to reason with.
Lharmen - Illuminati see themselves as
little gods = Lovers of their own selves.
Why are some of the biggest
names in the corporate world unloading stock like there is no
tomorrow, and why are some of the most
prominent investors on Wall Street loudly warning about the
possibility of a market crash? Should we be alarmed that the big dogs
on Wall Street are starting to get very nervous...
Huge bets being placed that
would not pay off at all if the Market did not
April = March
is here and the crash proceed this coming war 3/22 - Get prepared with
cash on hand or you will be putting your hand out to the very homeless
people you turned down for money soon after this starts because we
have cash. You get what you give in life if you gave, others will give
to you, but if you never gave you deserve what your about to get which
is the same as you gave = nothing - Lharmen.
Project Blue Beam
is unfolding and very likely planned for March 22 = 322 of 2013 all
Illuminati numbers - Lharmen
In addition, some
extraordinarily large bets have just been made
that will only pay off if
the financial markets in the U.S. crash
by the end of April. So what does
all of this mean? ....
It means March 22 war that is what it means
and the crash looks to come before the war!
Scripture tells us they
will run into Israel with the abomination that maketh desolate
possibly directly after the destructive attacks on Damascus and Iran
that will break their power. I see that it is the
retaliatory strike on Israel
when they all dwell safely and no-one makes them afraid that will
bring our redemption this happens after the war that destroys Damascus
and we see the devil/He Goat stand in the house of God and say he is
This first week of October is going
to be HUGE from both an economic standpoint.
First, here’s an abbreviated version of what’s coming up.
Chinese Markets closed for Golden Week = 8 day holiday.
Central Bank Decisions from Aussie, BOE, ECB and BOJ
Big Ben speaks, and the Minutes from the September meeting
Global PMI Data – China, EU, UK, USA
September Auto Sales and Retailer Same Store Sales
US and EU Employment reports
A Big Spanish Bond Auction
Value Investing Conference – Major HF speakers
European Banking Authority – final report on capital plans
The First debate between Gov. Romney and President Obama
Spain has suffered the worst haemorrhaging of
bank deposits since the launch of the euro, losing funds equal to
7pc of GDP in a single month.
Data from the European Central Bank shows that outflows from Spanish
commercial banks reached €74bn (Ł59bn) in July, twice the previous
monthly record. This brings the total deposit loss over the past year
to 10.9pc, replicating the pattern seen in Greece as the crisis
I would call that a bank run - Lharmen
collapse of mega behemoth Bear Stearns there were rumors that a major
Wall Street firm had bitten off more than it could chew. Mainstream
media, for the most part, completely ignored the rumors, with some
financial experts like CNBC’s premier Wall Street insider Jim Cramer
literally screaming at viewers on the March 11, 2008 airing of Mad
Money in which he vehemently denied any problems saying that the
company was “fine.”
Now, a report from analysis firm Beacon
Equity Research suggests that there is an unusually high amount of
chatter on Wall Street surrounding the
possibility of another major financial
collapse in the making. When the
Department of Homeland Security or other intelligence services hear
chatter they often raise the terror alert level, deploy federal SWAT
teams and go on complete lock-down.
If you enjoy
watching financial doom, then you are quite likely to really enjoy the
rest of 2012. Right now, red flags are popping up all over the place.
Corporate insiders are selling off stock like there is no tomorrow,
major economies all over Europe continue to implode, the IMF is
warning that the eurozone could actually break up and there are signs
of trouble at major banks all over the planet. Unfortunately, it looks
like the period of relative stability that global financial markets
have been enjoying is about to come to an end. A whole host of
problems that have been festering just below the surface are starting
to manifest, and we are beginning to see the ingredients for a
"perfect storm" start to come together. The greatest global debt
bubble in human history is showing signs that it is getting ready to
burst, and when that happens the consequences are going to be
absolutely horrific. Hopefully we still have at least a little bit
more time before the global financial system implodes, but at this
point it doesn't look like anything is going to be able to stop the
chaos that is on the horizon.
The following are 22
red flags that indicate that very serious doom is coming for global
#1 According to CNN, the level of selling by insiders at
corporations listed on the S&P 500 is the highest that it has been in
almost a decade. Do those insiders know something that the rest of us
do not? #2 Home prices in the United States have fallen for six months
in a row and are now down 35 percent from the peak of the housing
market. The last time that home prices in the U.S. were this low was
back in 2002. #3 It is now being projected that the Greek economy will shrink
by another 5 percent this year. #4 Despite wave after wave of austerity measures, Greece is
still going to have a budget deficit equivalent to about 7 percent of
GDP in 2012. #5 Interest rates on Italian and Spanish sovereign debt are
rapidly rising. The following is from a recent RTE article.... #6 The government of Spain recently announced that its 2011
budget deficit was much larger than originally projected and that it
probably will not meet its budget targets for 2012 either. #7 Amazingly, bad loans now make up 8.15 percent of all loans
on the books of Spanish banks. That is the highest level in 18 years.
The total value of all toxic loans in Spain is equivalent to
approximately 13 percent of Spanish GDP. #8 One key Spanish stock index has already fallen by more than
19 percent so far this year. #9 The Spanish government has announced a ban on all cash
transactions larger than 2,500 euros.
Many are interpreting this as a
panic move. #10 It is looking increasingly likely that a major bailout for
Spain will be needed. The following is from a recent Reuters
article.... #11 Analysts at Moody's Analytics are warning that Italy has
now reached financially unsustainable
territory.... #12 It is being projected that the Portuguese economy will
shrink by 5.7 percent during 2012. #13 There is even trouble in European nations that have been
considered relatively stable up to this point. For example, the Dutch
government collapsed on Monday after austerity talks broke down. #14 The head of the IMF, Christine Lagarde, says that there are
"dark clouds on the horizon" for the global economy. #15 The top economist for the IMF, Olivier Blanchard, recently
made this statement: "One has the feeling that at any moment, things
could get very bad again." #16 A recent IMF report admitted that the current financial
crisis could lead to the break up of the eurozone.... #17 George Soros is publicly declaring that the European Union
could soon experience a collapse similar to what happened to the
Soviet Union. #18 A member of the European Parliament, Nigel Farage, stated
during one recent interview that it is inevitable that some major
banks in Europe will collapse.... #19 The IMF is projecting that Japan will have a debt to GDP
ratio of 256 percent by next year. #20 Goldman Sachs is projecting that the S&P 500 will fall by
about 11 percent by the end of 2012. #21 Over the past six months, hundreds of prominent bankers
have resigned all over the globe.
Is there a
reason why so many are suddenly leaving their posts? #22 The 9
largest U.S. banks have a total of 228.72 trillion dollars of exposure
3 times the size of
the entire global economy.
It is a financial bubble so
immense in size that it is nearly impossible to
fully comprehend how large it is.
The financial crisis of 2008 was just a warm up act for what is
coming. The too big to fail banks
are larger than ever, the
governments of the western world are in far more debt than they were
back then, and the entire global financial system is more unstable and
more vulnerable than ever before.
But this time the epicenter of the financial crisis will be in Europe.
Outside of Europe, most people simply do not understand how truly
nightmarish the European
economic crisis really is.
Spain, Italy and Portugal are all heading
for an economic depression and Greece is already in one.
The European Central Bank was able to kick the can down the road a
little bit by expanding its balance sheet by about a trillion dollars
over the last nine months, but the truth is that the underlying
problems in Europe just continue to get worse and worse.
It truly is like watching a horrible car wreck happen in slow motion.
The good news is that there is
still a little time to get yourself into a better position for the
next financial crisis. Don't leave yourself financially exposed to the
next crash. Sadly, just like back in 2008, most people will never even
see this next crisis coming.
The financial world seems to have
adopted the idea that things will somehow work themselves out in
Europe. I don’t know if it’s because people don’t like to think about
negative things or if someone sent out a memo to everyone that math
doesn’t exist or count in Europe, but somehow investors seem to have
decided that as long as we think positive thoughts everything will be
The reality is that every day, Europe is approaching a debt
ALARM at the economic turmoil
in Europe intensified last night after the Government admitted
preparations for the chaotic
collapse of the euro were being “stepped up”. Downing Street is
understood to be embroiled in intensive “contingency planning” for
Greece and possibly Italy, Spain and Portugal quitting the eurozone.
British banks have been urged by the City’s watchdog to
brace themselves for the collapse of the single currency.
It's time to think of what
markets have regarded as unthinkable – that the euro really is on its
The defining moment was the fiasco over Wednesday's bond auction,
reinforced on Thursday by the
spectacle of German sovereign bond yields rising
above those of the UK.
No, what this is about is the markets starting to bet on what was
a minority view - a complete collapse, or break-up,
of the euro.
It appears that the key news of the day was
not the fluff about the IMF which as we said was total non-news, but
adverse news from the Fed which just announced that it is launching
its 2012 bank stress test
which unlike previous iterations may actually demand capital raises
from US banks.
Those banks are Bank of America, Citigroup, Goldman Sachs, JPMorgan
Chase, Morgan Stanley and Wells Fargo.
The problem is that next steps will certainly involve tens of
billions in capital raises demanded of the above six banks (and
probably Jefferies) by the Fed. Not surprisingly, ES has collapsed on
the news to just over 1180.
Sept 11th 2012
looks to be the date chosen for the Global nuclear war. This 2012 year
is all by Masons/Zionist/Jesuit design.
And great earthquakes
shall be in divers places, and famines,
and fearful sights and great signs shall
there be from heaven.
Luke 21:28And when these things
begin to come to pass,
then look up, and lift up your heads; for your
redemption draweth nigh.
NO MORE HELL'S ANGELS HARLOT WAR ON DRUGS FALSE RELIGION.
Project Blue Beam
could happen during Damascus destruction then we see God coming in the
cloud of the Global nuclear war when Russia and China attack some time
after. The next day of the next year as the he Goat/Beast waxes very
great first then the Global nuclear war happens.
Luke 21:34And take heed to yourselves, lest
at any time your hearts be overcharged with surfeiting, and
drunkenness, and cares of this life, and so that day come upon you
Follow the trading LIVE
Bloomberg Markets Summary
ECB’s Stark steps down, markets
Treasury Yields Fall To 60-Year LOWS
EURO Falls to 6-Month Low
Ghost of Lehman Haunts G-7 Amid Debt Crisis - Bloomberg
Germany Said to Ready Plan to Help Banks If Greece Defaults
Corporate Bond Risk Rises in Europe, Credit-Default Swaps Show
China Inflation Eases From Three-Year High
Greece Committed to ‘Full Implementation’ of Pact Amid Default
NY Police Search Trucks After Terror Threat
Geithner BS: ‘Substantial’ Impact From Jobs Plan
Markets could rebound after
global market sell-off,
but investors should see any bounce as a selling opportunity, as the
world economy rolls towards total
collapse, Mark Faber, editor and
publisher of the Boom, Doom and Gloom Report, told CNBC
Fears of worsening economic
turmoil in the United States and Europe
triggered a broad-based retreat on global markets
Thursday, with stock market indexes plunging more than 4 percent in
The Dow Jones industrial average closed down for its ninth session
out of 10, finishing the day down more than 500 points, or 4.3 percent
in the red; the Standard & Poor’s 500 fell 4.8 percent; and the Nasdaq
tumbled 5.1 percent. All three indexes
experienced their biggest weekly drops since May 2010.
The Dow was down 10 percent from highs in
May, erasing all gains for 2011.
The US government hit its
legal borrowing limit of $14.29 trillion on May 16. The Treasury has
taken extraordinary technical measures to avert a debt default, but
says it will run out of maneuvering room by August 2.
This next news is
why the news after it says we are about to see a
global melt down June 30 or sooner.
The second round of
quantitative easing (QE2) is scheduled to
end June 30, and
already there are calls for more financial stimulus to keep the
economy from falling off a cliff. The latest call came from Larry
Summers, former head of the Obama Administration’s financial team...
Lift up our heads
when these things begin to come to pass as our redemption draws near!
I am not
pointing you to this man's ideas but to his
This banner was put here June
2 2011 = Days away to a crash !!!
Dennis Slothower is one of
the world’s leading technical analysts.
one of the few advisors whose readers completely avoided
losses during the disaster that was 2008.
now he’s issuing another dire warning.
technical indicators suggest that the market manipulation
seen over the last several months is about to come to an
that means thousands of investors are about to get
This correction could begin as soon as June
30th– so it’s important
that you take action now to
Get completely out of the markets and buy seeds and
When we see these things begin to come to pass lift
up our heads our redemption drawth near.
Pestilence/Famine/Great earthquakes/and great signs from
Mark Mobius, executive chairman of
Templeton Asset Management’s emerging
markets group, said another financial crisis is inevitable because the
causes of the previous one haven’t been resolved.
The total value of derivatives in the world exceeds total global
gross domestic product by a factor of 10, said
Mobius, who oversees
more than $50
billion. With that volume of bets in
different directions, volatility and equity market crises will occur,
The U.S. this week will
start taking “extraordinary” steps to extend the federal government’s
authority to borrow funds as it nears the national debt ceiling,
Treasury Secretary Timothy Geithner said Monday.
Geithner early last month told lawmakers that the U.S. would hit the
debt ceiling by May 16
and could default as soon as
“Because it appears that Congress
will not act by May 16, it will be
necessary for the Treasury to begin implementing these extraordinary
measures this week,” Geithner
said in letters to House and Senate leaders.
With the US Mint selling silver at
an unprecedented pace, it was only a matter of time before the silver
shortage would be spotted across the Atlantic, where distributors ran
out of both gold and silver on a daily basis during the first time
Europe became insolvent some time in early May 2010. Sure enough,
BullionVault.com has announced that it has run out of silver in
Germany "due to high demand."
We witnessed a massive withdrawal of silver
unprecedented in the history of the comex. First there was a smallish
6507 oz of silver deposited to two customers, one being 497 oz and the
other 6010 oz). But just look at the huge withdrawals:
Four customers (not dealers) withdrew a total of 1,019,310 oz from
the comex vaults. This is real silver leaving from 4 registered
vaults. The individual withdrawals are: 579,081, 30,380, 399,994 and
Dec 7 is the call for a massive run on the European banking system and
these people planning this are not a small group so it could have a
very negative effect on the global markets if it doesn't bring the
entire house down on the back of these 2 events Dec 7th and Dec 15th
A top economic adviser
to the Democratic Party, speaking on deep background, told WMR that
the domino-like collapse of the economies of Iceland, Greece, Ireland,
and, now, possibly Spain, is coming also to the United States.
IN A NORMAL WORLD YOU
WOULD THINK A CRASH WOULD HAVE STARTED TODAY ON THE U.S. CURRENCY !
One has to wonder if it was only
coincidence, that on the day
China and Russia make this announcement, South Korea decides to
provoke the Chinese-client state, North Korea, with military
exercises, exercises in which "US advisors" participated?!?
The truth is that these "good
times" are only temporary. Don't get used to them. The following are
30 reasons why people should be getting really, really nervous about
the state of the U.S. economy....
#1 Corporate insiders are selling off stock at a
blinding pace and are looking for the exits. Alan Newman, the editor
of the Crosscurrents newsletter, examined a number of the top
performing stocks in the market including Google, Apple and Target and
found that the ratio of corporate insider stock sold to corporate
insider stock purchased over the last six months for those companies
was 3,177 to 1. At the group of firms that Newman looked at, corporate
insiders had purchased 38,000 shares of stock over the last six months
and yet had sold off over 120 million shares.
Federal Reserve Chairman Ben
Bernanke delivered a speech
before the the Annual Meeting of the Rhode Island Public Expenditure
Council in Providence, Rhode Island. In the speech, he warned about
the current state of the government finances. His conclusion, the
situation is dire and "unsustainable".
dire warnings that the
world's number one economy is on the
brink of collapse, amid high
rates of unemployment and a spiralling public deficit, are flourishing
The guru of this doomsday line of thinking may be economist
thrust into the forefront
after predicting the chaos wrought by the subprime mortgage crisis and
the collapse of the housing bubble.
"The US has run out of bullets,"
Roubini told an economic forum in
earlier this month. "Any shock at this point can tip you back into
This Omen in recent
investigations reveals = When one of these warnings is signalled, an
investor needs to remember that it's simply telling you conditions
exist for something to happen, but it doesn't necessary mean it will
happen. It's nice to know, more or less. markets have crashed after
these indicators 25 % of the time !
On Thursday August 12, the US
equities market triggered a confirmed technical indicator known as the
“Hindenburg Omen." This omen, as you may have guessed, suggests that a
stock market crash is on the way. However,
it doesn’t mean just any crash
-- according to Albert Edwards, a London-based strategist at Societe
Generale SA, the indicator means “a savage equity downturn is
The level of attention and significance given to this omen is truly
unparalleled in the world of technical analysis, and for good reason.
Every NYSE crash since 1985 has been preceded by a Hindenburg Omen.
Based on historical stats, the
probability of a panic sellout is 41%,
while the probability of a major stock market crash is 24%.
Out of the previous 25 confirmed signals, only 8% (two) have failed to
predict at least a mild decline in equities markets.
The probability of a move greater than 5% to the downside after a
confirmed Hindenburg Omen is 77%, and usually takes place within the
next 40 days.
As a result, the Hindenburg Omen is
indeed the most feared indicator for Wall Street bulls.
However, when the infamous omen starts showing itself
two times in two days, that’s when things can
get really scary.
Thursday, August 12, was indeed a Hindenburg Omen; 100% confirmed by
technical analysts worldwide. I’ve come
across news stories in English, French, German, Italian, and
Portuguese all proclaiming the arrival of the dreaded Omen. Suffice to
say -- it’s a big deal covered by every major financial outlet, and
nobody in the industry doubts its significance.
Since the year-over-year percentage
change sliced through the zero line at the end of May, it has quickly
fallen to levels signaling a very high risk of recession. What’s more,
it has never fallen as low as its current reading without the economy
already in or on its way to a recession.
Dagong Global Credit
Rating Co used its first foray into sovereign debt to paint a
revolutionary picture of creditworthiness around the world, giving
much greater weight to “wealth
creating capacity” and foreign
reserves than Fitch, Standard &
Poor’s, or Moody’s.
slither down to AA-.
are ranked at A-
along with Malaysia.
Meanwhile, China rises to AA+
with Germany, the Netherlands and
reflecting its €2.4 trillion (Ł2 trillion) reserves and a blistering
growth rate of 8pc to 10pc a year.
This is a PIIGS
According to a report out last week,
there is huge off-balance-sheet debt guaranteed by Greece and the
Italy, Ireland, Greece and Spain.
<-- Mar 7 news below !
• New home sales imploded 33
percent to a seasonally adjusted annual rate of 300,000 units.
That’s the lowest ever recorded!
• Durable goods orders tanked 1.1 percent in May,
while housing construction skidded 10 percent.
• Consumer confidence plunged to 52.9 in June,
according to the Conference Board. That was a huge drop from 62.7 in
May and well below the 62.5 that economists were expecting
• The Dallas Fed’s gauge of manufacturing activity
dropped to -4 percent from 2.9 percent. The Chicago Fed’s activity
index fell to 0.21 from 0.25. The Richmond Fed’s index fell to 23
from 26, while the Philadelphia Fed’s index plunged to 8 from 21.4,
the worst reading in 10 months.
A euro stabilization
package of nearly $1 trillion
be enough to protect Greece, Portugal and Spain from volatile credit
markets, said Federal Reserve chairman Ben Bernanke to the Woodrow
Wilson Center, but investors were not yet convinced Europe’s debt
problems would be resolved, and
even more money may be needed.
“After nearly two years
of global economic and financial upheaval, shockwaves are still being
felt, as we have seen with recent developments in Europe and the
resulting financial market volatility,” Naoyuki Shinohara, the IMF's
deputy managing director, said in Singapore on Wednesday. “The global
outlook remains unusually uncertain and downside risks have risen
The freemasons who
causing this coming disaster wearing sheep's clothing (Christian
clothing) fraudulently claim 13 bloodlines to their god when in fact
there is only 12 written in scripture. They are trying to line as many
numbers up in their god Lucifer the Popes favour before the global
nuclear war begins.
THERE IS GOING TO BE A MAJOR EVENT UNFOLDING AROUND THE WORLD SOON AS
ALL SIGNS ARE WARNING = GET RIGHT WITH GOD AND BUY FOOD.
PREPARE FOR THE WORST BUT PRAY FOR THE BEST AS I HAVE BEEN WARNING FOR
Though the infinite stimulus by the Federal Reserve
and the skewing of statistics by government agencies like the Labor
Department have lead the average American to believe a recovery is in
the making, the fact is, our situation has only become worse since the
initial collapse began in 2007. Most recent signs indicate we may soon
return to the hyper-volatility we saw in the Dow back in 2008, but
this time, the Dollar will follow the plunge of stocks instead of
hedging against it.
Key measurements of credit instability are once
again spiking, just as they were before the Dow plummeted out of
control in 2008. As you can see from the chart below, 2 year swap
spreads slowly rolled above 60 basis points
just before the Dow began to plunge:
This year, 2 year swap spreads have
rocketed up from 9.6 basis points in March, to as much as 64 basis
points in May! That’s a seven fold increase in the span of a couple of
months, unlike the collapse of 2008, which saw spreads rise much
Credit swap spreads rise when banks
charge higher premiums. Banks charge higher premiums when they do not
trust the creditworthiness of other banks. Corporate bond sales have
fallen to the lowest levels in a decade:
The swap spread chart is basically a
that goes up when banks are
preparing for serious market turmoil.
It seems as though that turmoil may be near due to the explosion in
swap spreads in such a short period of time. You can read more about
swap spreads and their warning signs here:
Heads up people. Something very big is happening in the global credit
markets — something you darn well better
pay attention to.
The very same “Credit Crisis”
indicators that were flashing red before the stock market meltdown of
2007-2008 — the ones Martin and
I used to get our subscribers out of almost all stocks, and “short”
the market via inverse ETFs —
are flashing red again.
ban on short-selling is just a distraction from the horror to come.
In one respect, Mrs Merkel is right:
"The euro is in danger… if the euro fails, then Europe fails." What
she has not yet admitted publicly is that the main cause of the single
currency's peril appears beyond her control and therefore her
impetuous response to its crisis of confidence is doomed to fail.
This is the way to
completely bankrupt a nation and loot all the Money first ... question
Americans should be asking is where is the money actually going and
why ...but they never get this question answered. Most of this money
has been exposed as being put up in 4 European banks ??? Why ??? What
kind of bailout plan is it when the money is just simply being moved
into a market which is clearly more at risk than the U.S.. Place it
under "crash coming all by design" !!!
Richard Russell, the
famous writer of the Dow Theory Letters,
has a chilling line in today's note:
Do your friends a favor. Tell them to "batten down the hatches"
because there's a HARD RAIN coming. Tell them to
get out of debt and sell anything
they can sell (and don't need) in order to get liquid. Tell them that
Richard Russell says that by the end of
this year they won't recognize the country.
They'll retort, "How the dickens does Russell know -- who told him?"
Tell them the stock market told him.
Unprecedented Swiss Bank Intervention Driven By
Massive Capital Flight
From Germany To Switzerland; Result Was Euro Surge - May 20
Yesterday we disclosed
that the reason for numerous SNB interventions in the EURCHF was due
to billions in deposits rushing out of Germany and seeking the
relative stability of Swiss neutrality.
A quick look at the trading pattern of the GBPCHF shows that it is now
UK depositors who are panicking and shifting their money to unnamed
(not so much anymore) Zurich bank vaults.
The last time Greeks
were shown to be storming their parliament on live TV,
we got a 1,000 point drop on the Dow
Jones. Today, another 100,000
protesters of austerity are expected to hit the streets as the entire
country is essentially shut down. From the BBC: “Much of Greece’s
transport network has been immobilised, as trade unions stage another
24-hour general strike against austerity measures. Ferries are tied up
in port, railway stations shut, and the Labour Ministry occupied by
communist protesters. Organisers are hoping that up to 100,000 people
will join protests on the streets later.
Sunday's deal will only
buy time, not addressing the Euro's underlying weaknesses. The
currency could still collapse
- and indeed, at the end of last week it reached its lowest point
against the dollar for 18 months.
The turmoil that has stricken Greece has
spread to Romania
This crisis may be spreading
as the debt crisis continues, there have been reports that it
may spread to Japan,
one of the biggest economies in the world. Gerald Celente says that
this is the greatest bank robbery in history and it is the banks that
are doing the stealing.
Root of All evil =
And great earthquakes
shall be in divers places, and famines,
and fearful sights
and great signs
shall there be from heaven.
Luke 21:28And when these things
begin to come to pass,
then look up, and lift up your heads; for
your redemption draweth nigh.
The Antichrist Pope
rises to power on the back of these signs and stands in the House of
God saying he is God then the Lord comes as the Brightness.
posted an $82.69 billion deficit
in April, nearly
the $20.91 billion shortfall registered in
and the largest on record for that month, the Treasury Department said
Global crash by
design to bring the Pope to power as if he is god (through great man
created signs see
Project Blue Beam)
when he is the Antichrist worshipped globally as Lucifer !
Mason/Jesuit mafia's are
planning on pulling the world economies at the time of Iran and
Syria's war so it is not if but when and how they will bring on the
one world currency/one world ruler/one world religion.
SEE NEWS LINK BELOW THIS = THE
FALL OF THE PIIG OPTIONS WILL BRING THE ENTIRE WORLD ECONOMY DOWN.
FIRST THE MAFIA OF
CATHOLIC/GREEK MASONS BROUGHT US THE GLOBAL FRAUD CALLED THE
SWINE FLU AND NOW
THEY ARE UNLEASHING THE CREATED CRISIS CALLED THE
OPTIONS . THEY CALL
ALL PEOPLE WHO WILL NOT WORSHIP THE POPE
"PIGS OR SWINE" MEANING UNCLEAN . THE
POPE IS WORSHIPPED AS LUCIFER AND DEATH WORLD WIDE MAKING HIM THE
DEVIL AND HIS CHILDREN THE DOERS OF THIS EVIL AS THEY AS THE HAND OF
Greece's two-year government bond yield soared four percentage points
to 12.26 percent as investors bet the country would need a bailout to
avoid restructuring its debt or defaulting. Athens has to refinance
8.5 billion euros ($11.3 billion) of
bonds maturing on May 19.
As interest rates begin
to rise worldwide,
losses in derivatives
may end up bankrupting a wide range of institutions, including
municipalities, state governments, major insurance companies, top
investment houses, commercial banks and universities.
Defaults now beginning to occur in a number of European cities
prefigure what may end up being the
largest financial bubble ever to burst
– a bubble that today amounts to more than
I will attempt to address the following here
in this piece.
1. Comex “crash” may not induce the “parabolic rise” some are waiting
2. “Elite” may well actually allow this to happen as they could care
less and most will have no recourse in such an event.
3. A gold “bust” could actually be the cause of some type of
“meltdown” that we do not see coming besides munis, cdo’s, cds etc.
And of course to continue to debunk “gold will be the new currency and
the only way to survive” fear and greed based mandate of “gold bugs”
You had better heed
the warning to get your money out of Gold and into cash or wish you
had....the crash of 2010 is coming ! Buy food, tents/campers and water
supplies soon as this day is fassssst approaching . Remember the Swine
flu was a global fraud and now we have the PIIG options that will
certainly bring about a crash. Plastic will be useless in the coming
crash. Prepare now ..right now !
Congress is lurching
toward legislation to renovate the financial-regulatory system to
reduce the risk of another devastating crisis. Finally, the unveiling
of a 1,336-page bill by Sen. Christopher Dodd, the Connecticut
Democrat who chairs the Senate Banking Committee, was significant. The
move showed he is determined to move a bill through the committee
despite his inability to get even a few Republicans to sign on.
TAKE NOTE HERE THEY
CALL THESE PIIGS
AND WE JUST HAD THE GLOBAL FRAUD CALLED
SWINE FLU ? THE CATHOLIC JESUITS
AND THE FREEMASONS CALL ALL PEOPLE WHO WILL NOT WORSHIP THE POPE SWINE
According to a report out last week,
there is huge off-balance-sheet debt guaranteed by Greece and the
Portugal, Italy, Ireland and Spain. In addition to similar debt
guarantees issued by other governments.
Gordon Long, founder of a private venture-capital fund, said in an
investor note that there is more than $600
in notational value in the global derivative market, with $437
of it tied to interest rate swaps.
"Any credit event could trigger
a cascading event," Long wrote
in the report, according to NyPo. "It does not have to be default; it
could be a downgrade in swap contracts that would do the trick for a
collateral call. Something is going to cause it to topple, whether
it's a situation in Dubai, Greece or New Jersey."
Get ready for the hedge
fund hyenas, "PIIGS" (as the
Soros/Goldman boys have callously named
They're cooking up ways to attack sovereign debt and the bonds of your
governments as we speak. America may even be next. I wonder how many
sheep of the two party system will still be chanting "down with big
government" when the
billionaires intentionally collapse our system.
MONEY IS THE ROOT
OF ALL EVIL - BILLIONAIRE BANKERS = CATHOLIC/FREEMASON MAFIA!
Jim Rogers has predicted that the British Pound could completely
collapse within weeks, sending shockwaves throughout the global
economy and heralding the
beginning of a downturn that
would make the recent economic crisis look tame in comparison.
I warn people about the
fraudster Alex Jones see the Sun God page for the solid
proof. He just said it with his own lips the best way to control the
truth is to lead it !
A new advisory being sent by
America’s third largest bank to its account holders has stoked fears
that major financial institutions could be preparing for old fashioned
bank runs if the economy takes a turn for the worse.
Originally reported by John Carney over at the
Business Insider website, Citigroup is sending the following
information to customers along with their bank statements.
“Effective April 1, 2010, we reserve the right to
require (7) days advance notice before permitting a withdrawal from
all checking accounts.
Charlie Munger, Warren
Buffett’s long-time business partner in Berkshire Hathaway, warns in a
new column that the U.S. economic empire is crumbling before our eyes,
thanks to federal debt and poor planning.
The bottom line: In less than
one decade, investors who trusted Washington and Wall Street were
fleeced to the tune of $22.1 TRILLION!
Now, by bailing out bankers, brokers and CEOs,
Washington has created the most dangerous bubble so far: The enormous
and rapidly growing explosion of federal debt U.S. treasuries dumped
on investors worldwide.
You don’t need a PhD in economics to know what’s
next: Like the Tech Bubble and Real Estate Bubble that preceded it,
this new bubble will also burst, wiping out trillions more dollars of
The people have been
lulled into a false sense of safety under the rouse of a perceived
“economic recovery.” Unfortunately, what the majority of people think
does not make it so, especially when the people making the key
decisions think and act to the contrary. The sovereign debt crises
that have been unfolding in the past couple years and more recently in
Greece, are canaries in the coal mine for the rest of Western
“civilization.” The crisis threatens to spread to Spain, Portugal and
Ireland; like dominoes, one country after another will collapse into a
debt and currency crisis, all the way to America.
Bloomberg reported earlier this
week that the former chief global stategist for Morgan Stanley is
telling people to prepare for the worst. One more time folks, this is
no conspiracy theorist. Barton Biggs,
MORGAN STANLEY'S FORMER CHIEF GLOBAL STRATEGIST
is telling you there is going to be an
China's holding of US Treasury
bonds has tumbled, according to US Treasury data released Tuesday,
after Beijing expressed concern over the swelling US deficit and amid
new US-China tensions.
The drop in China's
bond holdings by 34.2 billion dollars or
to 755.4 billion dollars in December
also fueled the biggest drop in foreign purchase of short-term US
bonds, said the Treasury's latest international capital data report
and based on comparative figures.
China's US bond holding decline was also its biggest
drop since August 2000 and allowed Japan to regain its position as top
holder of American government debt after a 15-month hiatus.
Amid fears that Switzerland
might come to an agreement with the United States on banking privacy
and tax evasion disclosures, Credit Suisse issued a report identifying
those countries it determined to have the highest risks of default on
their sovereign debts. Number 16 on the list was the United States,
based primarily on its 2009 budget deficits and government debt.
China has ordered managers of its vast
currency reserves to withdraw from risky dollar assets and retreat to
core debt guaranteed by the US government, a clear sign that Beijing
is battening down the hatches for fresh trouble on global markets.
Treasury said it is working
closely with Congress to raise the ceiling. The Senate has approved
legislation to increase it by $1.9-trillion to $14.3-trillion. A
ceiling that high would equal about $45,000 for every American. The
House is expected to vote on the increase Thursday.
I warn all to be very
aware of next week up to Feb 28
as Egyptian military sources have exposed the
U.S. and Israel are moving into
positions to launch this massive
Nuclear war which will bring on
Project Blue Beam
and it happens during a time
when great famine begins to come to pass so keep your eyes open as we
are about to see the global economic collapse soon... maybe Tuesday .
The wise prepare for evil when they see it coming but the simple do
State Controller John Chiang
issued a stern warning Friday about California's cash reserves,
telling legislative leaders and Gov. Arnold Schwarzenegger they must
act on nearly $9 billion in budget cuts the governor is seeking by
March — or the state will run out of cash to pay its bills.
Even with the budget cuts, the state's cash reserve
would still be far below that cushion in March and April.
To that end, Chiang is calling for an additional $2
billion in cash-flow "solutions." Looking at previous cash crunches,
that could mean some payments, like
income tax refunds, would be delayed for a few weeks
to keep the cushion intact.
This economy is the 10
largest in the world beating out Canada and even Russia .... what
impact do you think it will have on the entire world if it collapses
....as it is about to.
War with Iran and
Syria looks to be planned for the week during the coming Olympics Feb
12 - 28 See my home page at the top for more proof of this.
Crash prediction of 2010 by
the mason insider Gerald Celente
This man has not been wrong
yet because he is on the inside!
Start buying food and prepare
for the coming global economic crash.
Democratic-controlled Senate has muscled through a plan to allow the
government to go a whopping $1.9 trillion deeper in debt.
The party-line 60-40 vote was successful only because Republican Sen.-elect
Scott Brown has yet to be seated. Sixty votes were required to approve
the increase. The measure would lift the debt ceiling to $14.3
trillion. That's about $45,000 for every American. Money out of thin air !!!
A smart person would
sell there Gild and guy seeds and Food as they will soon be worth far
more than gold . This finding could become the vehicle for the coming
crash. The Freemason Mafia could expose this and make a killing from
the crash. Massive inflation would follow.
discovery — in October of 2009 — has been suppressed by the main
stream media but has been circulating among the “big money” brokers
and financial kingpins and is just now being revealed to the public.
It involves the gold in Fort Knox — the US Treasury gold — that is the
equity of our national wealth. In short, millions (with an “m”) of
gold bars are fake!
The U.S. government
posted a deficit of $91.9 billion in December, nearly double the
shortfall of a year earlier and marking the government's 15th straight
month in the red, the Treasury Department reported Wednesday.
Prominent financial futurist
Gerald Celente calls what the oligarchic collusion of government and
banksters are doing to the American public as economic rape. Bailout
overseer and Harvard law professor Elizabeth Warren calls it reckless
gambling. After the year of the world’s largest transfer of wealth
from US taxpayers to banksters, Congress is telling the US taxpayers,
“TARP off,” by guaranteeing the banksters another $4 TRILLION next
time they claim they’re holding the US economy hostage. The bill also
limits debate to 10 hours, which could be eagerly construed to mean no
We face a state fiscal crisis of
unparalleled dimension – one that is going to sweep over every single
person in this state as well as every business and every family.
That is why I held an emergency cabinet meeting yesterday morning
where I outlined for our state’s elected leaders and business leaders
the ills our state faces. As I told them yesterday, we ARE faced with
some of the worst days in our 97-year history.
Order through Chaos is the
devil worshippers motto and we can see their handy work here!
On Tuesday, as many as
1,400 truck drivers for Arrow Trucking Co.,
based out of Tulsa, OK, have been frantically trying to figure out
their next moves as the company unexpectedly announced it was
“suspending all operations” that day.
Truckers started calling in to the Owner-Operator Independent
Drivers Association and Land Line after they were awakened
with phone calls from their dispatchers alerting them to the grim news
that the company was shutting its doors and that their instructions
were to turn in their trucks to the nearest Freightliner dealership.
However, no instructions were given for drivers of International
One OOIDA member told Land Line on Tuesday, Dec. 22, that
he had a bad feeling this was coming down the pike when his fuel card
didn’t work at a truck stop the previous night. As of press time, the
company driver, who didn’t want to be named, was stranded at a
Freightliner dealership in Roanoke, VA, because he didn’t have enough
fuel to make it to his delivery in Maryland.
“The dealership has been really good to me and said I could stay in
the truck tonight since the bus headed home has already left for the
day,” he said.
He said he had tried to call his customers to alert them to the
situation. He said Freightliner staff also volunteered to make phone
calls on his behalf regarding his load of vinyl fencing.
OOIDA Member Tim Tucker of Cedartown, GA, was in Los Angeles, CA,
when a fellow driver called him with the news. He said he was “still
in shock” because he had only been with the company for three weeks
and had yet to receive a paycheck from Arrow. All he had received so
far was approximately $40 in orientation pay, which he used to buy
At press time, Tucker was on Interstate 10 headed to Phoenix, where
he has been instructed to turn in his truck and trailer.
“I really don’t know what to do or what to think right now,” he
said. “Unfortunately, I only have a few hotdogs and a couple cans of
soup left to get me back home to Georgia.”
Stephanie Ortega, who works in the Fleet Services department at
Daimler, said she found out when she arrived at work Tuesday morning
that Arrow Trucking was shutting its doors and about the company’s
plan to help get Arrow’s drivers home.
She was instructed to tell drivers to drop their vehicles off at
the nearest Freightliner dealership and to leave their keys with an
attendant there or at a truck stop if they are out of fuel.
Ortega said drivers are asked to then call Daimler at 877-294-9679
and she and others there “can get them a bus ticket through Greyhound
or the company will reimburse up to $200 for alternative
However, one drawback to the plan is that drivers are on their own
to find transportation to a local Greyhound station once they have
surrendered their trucks.
“If they can get themselves to a local Greyhound station, we will
get them a bus ticket and get them home,” Ortega told Land Line.
Bonnie Bastian, media relations manager for Greyhound Lines Inc.,
said she was made aware of the circumstances surrounding Arrow drivers
around 3 p.m. today. She said while Greyhound’s commercial sales
department is going to be “fulfilling orders,” Daimler personnel will
be handling the ticket arrangements to get the drivers to their
For Tucker, he said as of yesterday his dispatcher was still trying
to get him a load going home so he could be with his family for
Christmas. He said he was surprised when he heard the news because
Arrow Trucking was still hiring drivers, including him, in early
December, so he assumed they were doing OK financially.
“I am still in total shock. I just don’t know what to do,” he said.
generally are very careful about commenting on the dollar and
Treasuries, given that so much of its US$2.3 trillion reserves are
tied to their value, and markets always watch any such comments
closely for signs of any shift in how it manages its assets.
Credit rating agency
Moody's (MCO) said Tuesday that the United States, along with 16 other
countries, could lose their Triple-A credit rating if fiscal deficits
and heavy debts are not effectively managed.
The latest calculation of the National Debt
as posted by the Treasury Department has - at least numerically -
exceeded the statutory Debt Limit approved by Congress last February
as part of the Recovery Act stimulus bill.
The ceiling was set at $12.104 trillion dollars. The latest posting
by Treasury shows the National Debt at nearly $12.135 trillion.
A senior Treasury official told CBS News that the department has
some "extraordinary accounting tools" it can use to give the
government breathing room in the range of $150-billion when the Debt
exceeds the Debt Ceiling.
One has to wonder if those "extraordinary
accounting tools" would be characterized by most honest accountants as
"cooking the books"
Remember now how the fed bailed
out bankers have threatened a systematic collapse if this audit goes
through ...clearly to be blamed on Saturday sabbath born again
Christians by design as Ron Paul is a Jesuit/Freemason himself = Wolf
disguised as a sheep.
In a bold but risky year-end
strategy, Democrats are preparing to raise the federal debt ceiling by
as much as $1.8 trillion before New Year’s rather than have to face
the issue again prior to the 2010 elections.
Within the next 12
months, the U.S. Treasury will have to refinance $2 trillion in
short-term debt. And that's not counting any additional deficit
spending, which is estimated to be around $1.5 trillion. Put the two
numbers together. Then ask yourself, how in the world can the Treasury
borrow $3.5 trillion in only one year? That's an amount equal to
nearly 30% of our entire GDP. And we're the world's biggest economy.
Where will the money come from?
As history has shown
us they either declare bankruptcy or
go to war
Stock markets in Germany, France, Spain and
Italy were all down about 2pc in early afternoon trading as investors
retreated from riskier assets. Investors spent the morning digesting
the news that Dubai World, the government investment company with
$59bn of liabilities, is seeking to delay repayment on much of its
debt. Price for European government bonds rose as investors moved
money into safer assets.
“Dubai isn’t doing risk appetite any favours
at all and the markets remain in a vulnerable state of mind,” Russell
Jones, head of fixed-income and currency research at RBC Capital
Markets, told Bloomberg. “We’re still in an environment where we’re
vulnerable to financial shocks of any sort and this is one of those.”
The credit default swaps, instruments investors use to protect
themselves against a borrower defaulting, linked to Dubai’s debt
jumped more than 100 basis
points to 571.
Fears over Dubai’s finances rippled out to a host of other
emerging-market assets, including Russia’s Micex stock index and
Chinese banks, under government
pressure to shore up their finances, are set to unleash a wave of
billions of dollars in capital raising that could strain equity
markets but also spur innovation in debt instruments.
Despite the frenetic
pace of bank failures this year, 552 lenders are still at risk of
going under, according to a government report published Tuesday.
You add the war with Iran and
Syria within weeks directly after prisoner swap this Friday and all
the bankers will go on holiday (close their doors). We will soon see
the 1000 banks fail this year as predicted in the news earlier this
Lots of Red alerts
but we will soon see the War on Iran and Syria that will in one day
bring a disaster to the world economy so you need to start buying food
now. See the
World news link for the latest news.
At least nine
U.S. states face similar fiscal strains brought on by the global
recession as those that left California on the brink of insolvency
four months ago, according to the Pew Center for the States.
Arizona, Florida, Illinois, Michigan,
Nevada, New Jersey, Oregon, Rhode Island and Wisconsin are dealing
with declining tax revenue, resurgent deficits and increasing
unemployment and home foreclosure rates, the center, a public policy
research group, said in a report. All but New Jersey, Illinois and
Wisconsin also have been hampered by a rule requiring a two- thirds
legislative vote to approve tax increases, the report said.
Delinquencies in commercial
mortgage-backed securities (CMBS) accelerated in October, according to
a report from Barclays Capital (BarCap). The 30-plus day delinquency
rate jumped 41bps to 5.5% in October as current loans deteriorated and
transferred to special servicers.
David Estulin Says
G-20 Meeting in Scotland this Week about Dumping U.S. Dollar
Daniel Estulin states that the key issue to be discussed this week at
the G20 Finance Ministers and Central Bank Governors Meeting, being
held in St. Andrews, Scotland, is
how to bring down the present world
financial system through dumping the US dollar.
Estulin first reported on this initiative as being deliberated at the
most recent Bilderberg meeting held in Greece in May 2009. Estulin
says that the success or failure of this callous plan hinges on the
ability of the US and UK representatives to convince the Russian, the
Chinese and other national governments to go along with their scheme.
Estulin maintains that if the
co-conspirators succeed, such sudden devaluation of the US dollar
would result in the sinking of the world economy through a
chain-reaction collapse of the entire world’s financial system. As
discussed during the Bilderberg Group’s super-secret conclave back in
May, this breakdown would then be used as an excuse to launch a new
world monetary system. G20 leaders are aware that those who run the
monetary markets, the monetary system, control the world. That is why
today, the world is run through a dominant one-currency monetary
system and not by national credit systems.
A severe breakdown crisis
would affect every corner of the world and be a prelude to
instability, wars and general hostility along financial, geographical
and geopolitical lines, affecting not only particular countries but
also societies, cultures and whole continents. Such a breakdown could
result in a consolidation of the world’s monetary system.
Estulin declares that the creation of the new world
currency is the true meaning of globalization, which is nothing but an
empire. It is the elimination of the nation-state, the degradation of
individual national liberties and the depredation of civil rights.
Collapsing the US dollar, first of all, is an
assault on the structure of the United States economy toward the
creation of a “World Company.” This concept, Estulin states, was
initially discussed at the April 1968 Bilderberg Group meeting, held
in Canada at Mont Trembland, by George Ball, a senior Lehman Brothers
banker and former undersecretary for economic affairs for Presidents
John Kennedy and Lyndon Johnson.
The aim of this World Company, as explained by Ball
was “to eliminate the archaic political structure of nation-state” in
favour of the more “modern” corporate structure. Ball also called for
further political integration in Europe, and then the rest of the
world, as a precondition for expanding the power of a World Company,
thus putting the financiers on the same levels as governments.
This initiative, the moving away from the US dollar
as a world currency, is the true intention of the G20 meeting November
6-7 at St. Andrews in Scotland, the site of the 1998 Bilderberg
conference, Estulin asserts.
The IMF announcement yesterday that
it had sold virtually half of its planned 403.3 tonnes of gold,
destined to increase its resources for lending to low-income
countries, to India came as something of a surprise to the market. Not
perhaps that a Central Bank had made the purchase, but the hard money
had been on China to do so, not India.
“All of the components of real
estate value are going in the wrong direction simultaneously,” said
Ross, one of nine money managers participating in a government program
to remove toxic assets from bank balance sheets. “Occupancy rates are
going down. Rent rates are going down and the capitalization rate the
return that investors are demanding to buy a property are going up.”
Capmark Financial Group Inc.,
the lender owned by companies including Goldman Sachs Group Inc. and
KKR & Co., filed for bankruptcy protection after posting a
second-quarter loss of about $1.6 billion.
Capmark, based in Horsham, Pennsylvania, is
one of the largest U.S. commercial real estate
finance companies, with more than $10
billion in originations, according to Moody’s Investors Service. The
company, formerly known as GMAC Commercial Holding Corp., services
more than $360 billion of debt. It has struggled as the default rate
on commercial mortgages held by U.S. banks more than doubled to the
highest since 1994.
I am hearing repeated anecdotes from
multiple areas that foreclosed property held by banks with multiple
full-price offers that include a financing requirement are being sold
instead to people with actual cash at radical reductions from that
price. This implies that these financing contingencies are regarded as
not only potentially no good but factually no good, as if the banks
know for a fact that the credit pipeline will (not might), within
weeks or months (in the time required to close), disappear. There is
no other rational explanation for this behavior.
When was the last time
you saw stocks decline 54% followed by a 55% rally? When was the last
time you saw stocks (NYSEArca: VTI - News), bonds (NYSEArca: AGG) and
commodities (NYSEArca: DBC - News) move in sync for nearly two years?
When was the last time asset allocation did not really provide the
diversification and protection it was supposed to? When was the last
time, a ten year investment in the stock market delivered negative
returns? Investors that care to harken back 80 years will find that
the 1929 - 1932 era is the only period of time that compares to today.
In fact, the parallels between now and then are bountiful and scary.
AS of 7:09 AM ET CNBC and
Marketwatch do not have anything on their front page about the Asian
intervention in foreign currency markets to prop up the collapsing
dollar. FT has a general story on the weak dollar four stories
down. WSJ covers it, but only half way down, in the "Before the Bell"
segment. Let me make clear what MSM is obviously not getting. Panic
out of the dollar is the great tsunami that could rock the financial
system to its core. If this escalates. It means soaring double digit
U.S. inflation, a near impossible ability for the U.S. government to
finance its debt, a complete restructuring of the international
about the loan program might
touch off a run by depositors, unsettle shareholders and hurt the
“ability to perform
important statutory functions at a time of economic upheaval,” Fed
lawyers have said in legal filings.
SEE NEWS BLOW THE FED
THREATENED A SYSTEMATIC COLLAPSE IF THEY ARE FORCED TO DIVULGE THIS
In the most profound
financial change in recent Middle East history, Gulf Arabs are
planning – along with China, Russia, Japan and France – to end dollar
dealings for oil, moving instead to a basket of currencies including
the Japanese yen and Chinese yuan, the euro, gold and a new, unified
currency planned for nations in the Gulf Co-operation Council,
including Saudi Arabia, Abu Dhabi, Kuwait and Qatar.
That's one-half of
the foreign demand for the U.S. dollar.
Yesterday Game Crazy announced
it’s going to close over 200 of its 680 stores. The goal of the
closings is to liquidate merchandise in the hope that the company can
raise enough money to keep the remaining stores open.
Some may remember that Circuit City tried a similar
move in October of last year when they announced the liquidation of
30% of their stores. The company had thought the liquidations would
give them enough cash to save the rest of the chain, but things didn’t
go as planned and Circuit City had to liquidate...
In my emails to you over the past
couple of weeks, I’ve shown you why Washington has
no choice but to devalue the
dollar and how global leaders and even the United Nations have joined
the attack on the greenback by demanding it be replaced as the world’s
Los Angeles, 2009: California may be
the eighth largest economy in the world, but its state staff are being
paid in IOUs, unemployment is at its highest in 70 years, and teachers
are on hunger strike. So what has gone so catastrophically wrong?
All employees have been laid off. To
make matters worse, workers did not get their paychecks Friday. On top
of that, they also found out that InkStop didn't pay their health
insurance premiums for the month of September. Employees just learned
that their coverage actually ended August 31. The Cleveland-based
company has 163 stores
Though we continue to see most
mainstream analysts talk the bull market talk, it looks as if the bull
may be in trouble, especially if individual investors realize what all
of the big boys talking their books already know - that the economic
fundamentals are simply horrific and the markets are already pricing
in GDP growth of over 5% for the next 4 quarters. Considering that GDP
grew at 0.7% in the 2nd quarter, that seems highly unlikely. Some
estimates also suggest the the P/E of the S&P 500 right now is at
unprecedented levels of over 100!
In an unprecedented
disclosure, the FDIC has highlighted that it expects the DIF reserve
ratio to be negative as of September 30. As there are a whopping 48
hours before that deadline, one can safely assume that the DIF is now
well into negative territory: as of today depositors have no insurance
courtesy of a banking system that has leeched out all the capital of
the Federal Deposit Insurance Corporation.
Let's pray there is no run on the bank
had better be the smart ones and go get your savings out soon very
soon and by food.
"It's almost Armageddon if the
Japanese and Chinese don't buy our debt,” Robertson said in an
interview. "I don't know where we could get the money. I think we've
let ourselves get in a terrible situation and I think we ought to try
and get out of it."
The current FHA
report is now out for servicing delinquencies and defaults, and as
expected it is indeed worse, not better. The administration continues
to LIE about claimed “improvements” in the character of home finance.
22.9% of all FHA loans are either delinquent or in foreclosure.
unemployment rate in August hit its highest point in nearly 70 years,
starkly underscoring how the nation’s incipient economic recovery
continues to elude millions of Americans looking for work.
cover your eyes and everything will look great just like
a recovery is
around the next corner ...were ever that is.
But in the mean
time I have some Swamp land for sale for all who buy that.
Here is the news we have been
waiting for that could start the greatest crash ever !
Add to this news (below) the D day announcements of the invisible
derivatives money we have been borrowing from and it will bring about
a Global financial disaster. See next news article.
Just a few weeks ago, while
Chairman Bernanke was testifying to Congress, we examined the Fed
balance sheet and P&L statement only to find what looked like the Fed
handing over half a trillion dollars to
foreigners. This was very surprising!
When I asked Chairman Bernanke
if this was true, he said, “Yes.”
When I asked him who got the money, he said,
“Fourteen foreign Central Banks.”
And when I asked to who did they give the money, he said, “I don’t
know.” “I don’t know” is not good enough
when you’re talking about $500 billion.
That’s $1700 for every man, woman, and child in this country...
Derivatives Meaning =
Lets say: A bank has a deposit of $1000 - they are suppose to only
lend up to 90% of that deposit out. So they then lend $900 out to
someone, now they add that $900 loan to "deposits" - because it is
seen as money in the bank. So, now they took that $1000 and made it to
$1900 as deposits. So now they are able to loan 90% of $1900 - so they
loan $1710 to someone else. Once that happens, again they can add that
$1710 as money in the bank. The cycles goes on and on - until the
reality is quadtrillion - some say quintrillions is loaned out - in
money that is not actually there. Thus we have a house of cards that
has no base and that is WHY the banks - don't actually have all the
money that are in deposits in the banks. So that means - what you
think you have in the bank in the form of money - is NOT THERE!
Are you with me? Do you understand how Derivatives work now - in the
most simple terms?
Do you now understand, banks have not put those derivatives on their
books - but come Sept. 30th 2009 - due to new banking standards -
derivatives need to be put on
the books and when that happens
- the banking industry will most
likely come crashing down.
Joseph Stiglitz, the
Nobel Prize- winning economist, said the U.S. has failed to fix the
underlying problems of its banking system after the credit crunch and
the collapse of Lehman Brothers Holdings Inc.
“In the U.S. and many other countries, the too-big-to-fail banks have
become even bigger,” Stiglitz said in an interview today in Paris.
“The problems are worse than
they were in 2007 before the crisis.”
Now Obama is asking Congress to
raise the debt ceiling, something lawmakers are almost certain to do
despite misgivings about the federal debt. The ceiling already has
been hiked three times in the past two years, and the House took
action earlier this year to raise the ceiling to $13 trillion.
Congress has little choice. Failing
to raise the cap could lead the nation to default in mid-October, when
the debt is expected to exceed its limit, Treasury Secretary Timothy
Geithner has said. In August, Geithner asked Senate Majority Leader
Harry Reid (D-Nev.) to increase the debt limit as soon as possible.
TrimTabs Investment Research
reported that selling by corporate
insiders in August has surged to
$6.1 billion, the
highest amount since May 2008. The ratio of insider selling to insider
buying hit 30.6,
level since TrimTabs began tracking the data in 2004.
market participants are sending a clear signal that the
party on Wall Street is going to
said Charles Biderman, CEO of TrimTabs.
The Fed has refused
to name the financial firms it lent to or disclose the amounts or the
assets put up as collateral under 11 programs, most put in place
during the deepest financial crisis since the Great Depression,
saying that doing so
might set off a run by depositors and unsettle shareholders.
IF THEY DID NO WRONG THEN
HOW WOULD IT UNSETTLE SHARE HOLDERS AND SET OFF A RUN ON THE BANKS ???
The United States needs to
borrow nearly $10 trillion over the next decade, including about $1.6
trillion this year. Where's it going to come from? See Chart at this
link above. China reduced its holdings of Treasury securities by $25
billion in June,
the most China had ever sold in a month...
The U.S. is holding the global
economy afloat by printing U.S. dollars see massive inflation soon or
the War with Iran and Syria then Massive Inflation you can not hold it
off forever it will happen it is the caused effect of printing
billions of more Dollars out of thin air.
satanic plan to terrorized the world to bring on the Antichrist as if
he is god.)
America is just a few
days away from a possible day of reckoning. I again call attention to
this day, August 25,
when the Federal Deposit Insurance Corporation issues its 2nd Quarter
report for 2009 on the state of health of American banks.
“No government, or central
bank, is bigger than the bond and currency markets.
Foreign bondholders aren’t going to sit idly by while any government …
even the government of the U.S. … openly decides to trash its currency
by printing it with reckless abandon. And they aren’t going to sit by
while the government manipulates prices higher.
“They’re going to say ‘Sold to you!’ and take their
A highly influential
American has finally hit the panic button about the tremendous
mountain of debt the country is piling up.
Last year, Warren Buffett says, we were justified in using any means
necessary to stave off another Great Depression. Now that the economy
is beginning to recover, however, we need to curtail our
out-of-control spending, or we'll destroy the value of the dollar and
many Americans' life savings.
Some not-so-fun facts from Buffett's editorial today in the New York
Congress is now spending 185% of what it takes in
Our deficit is a post WWII record of 13% of GDP
Our debt is growing by 1% a month
We are borrowing $1.8 trillion a year
$1.8 trillion is a lot of money. Even if the Chinese lend us $400
billion a year and Americans save a remarkable $500 billion and lend
it to the government, we'll
still need another $900 billion.
So, where's it going to come from? Most likely the
printing press. And, ultimately, Buffett says, that will destroy the
value of the dollar.
Just what I have been
saying for months if you print it you destroy the value of the U.S.
currency and no will want to trust to lend to the U.S. = CRASH !!!
The country's growing
unemployment is overtaking subprime mortgages as the main driver of
foreclosures, according to bankers and economists, threatening to send
even higher the number of borrowers who will lose their homes and
making the foreclosure crisis far more complicated to unwind.
The notion that deficits do not
matter is a widely held and deeply ingrained economic philosophy. This
line of thought took a stronghold in the 1980s and has seemed to stick
to our ever-growing dismay. Yet budget deficits do matter if we are
looking at an economic horizon that is longer than one fiscal year.
You need to put this into context of your own household. If you as an
average American spend more than you make, it will eventually catch up
Britain's Uber-bear is
growling again. After predicting a torrid "relief rally" over the
early summer, Bob Janjuah at Royal Bank of Scotland is advising
clients to take profits in global equity and commodity markets and
prepare for another storm as winter nears.
We are now in the middle of a parabolic spike up,"
he said in his latest confidential note to clients.
"I expect this risk rally to continue into and maybe
through a large part of August. What happens after that? The next ugly
leg of the bear market begins as we get into the July through
September 'tipping zone', driven by the failure of the data to
validate the V (shaped recovery) that is now fully priced into
everything is lining up for
early Sept possibly Sept 9 th or
Sept 11 th for the strike on Iran and Syria and the global economic
Then said he unto them, Nation shall rise against nation, and kingdom
And great earthquakes
shall be in divers places, and famines,
and fearful sights
and great signs shall there be from
Luke 21:28And when these things
begin to come to
pass, then look up, and lift up your heads; for your redemption
draweth nigh. NO MORE HELL'S
ANGELS HARLOT WAR ON DRUGS FALSE RELIGION 144,000 FREEMASONS.
Luke 21:34And take heed to yourselves, lest
at any time your hearts be overcharged with surfeiting, and
drunkenness, and cares of this life, and so that day come upon you
Project Blue Beam
is a false holographic second coming of Jesus. They are planning to
create all the prophecies in order to deceive the globalal population
into believing the Pope is god when he is the antichrist he comes with
all God's power all God's signs and all lying wonders.
These are the only signs and lying
wonders that are so great that if possible they could deceive the very
elect of God. We have to "see"
the Lord coming in the clouds to believe he is back and not until.
prepared to leave all cities when they begin to mass vaccinate at the
beginning of Sept as the many stories I have show this vaccine is
extremely hard on the human immune system these news articles show
many nations now force vaccinating for a flu that has kill 2000
globally when 30,000 to 40,000 die each year in Americas alone from
the seasonal flu. See it
Traders were betting the VIX, a gauge of
expected stock swings, would increase 13 percent in the next five
weeks, according to futures prices at the end of last week compiled by
Bloomberg. That’s the biggest spread
since August 2008, before the S&P 500
suffered the steepest two-month plunge in 21 years.
The indexes have moved in the opposite direction 81 percent of the
time over the past five years, Bloomberg data show.
“It’s a danger sign,” said Ronald Egalka, a 36-year options trader
who oversees $8 billion as chief executive officer of Rampart
Investment Management in Boston. “People expect volatility to pick up
in the future, and that implies that
there’s going to be a downward movement in the market.”
the crash comes and only those of us who asked God forgiveness of our
sins and asked God's Spirit into our heart will head the warning signs
all others are in big trouble with God.
next news is Huge as it shows that there is not enough buyers of 50%
of the U.S. debt being auctioned.
Good grief! Just last week,
when the auction results were announced it was trumpeted to great
fanfare that there was "more than sufficient" bid-to-cover, "strong
demand" and all the rest.
And now it turns out that 47%
(!) of the bonds that were taken by the primary dealers in that
auction have been quietly bought by the Fed and permanently secreted
to its balance sheet.
They didn't even wait a full week! A more
honest and open approach would have been for the Fed to simply buy
them outright at the auction but this way, using "primary dealers" and
"POMOs" and all these other extra steps the basic fact that the Fed is
openly monetizing US government debt is effectively hidden from a
not-too-terribly inquisitive US press and public.
The speed of the shell game is accelerating.
This immediate repurchase of newly auction bonds by
the Fed tells us that demand for these bonds is not nearly as high as
advertised, and that things are not quite as strong as represented.
And oh, by the way, don't expect any stock market
weakness while so many billions are being shoveled out the Fed and
into the pockets of the primary dealers. They'll have to do
something with all that freshly minted cash.....
Washington DC --- The second wave of
the world economic depression is coming soon. Larry Summers, the
economics czar of the Wall Street puppet regime currently in power in
Washington, recently confessed to the Financial Times in an unguarded
moment: "I don't think the worst is over ...." A few weeks earlier,
Jacques Attali, who served in the 1980s as the main economics adviser
to French President Mitterrand, told an audience at the International
Economic and Financial Forum (FIEF) in Paris that the world might well
face a "planetary Weimar"
in the form of a
similar to the German events of
1922 to 1923.
REMEMBER THAT IN
GERMANY'S CRASH WITHIN TWO DAY THE STORE SHELVES WERE EMPTIED
PLOTTING THE DESTRUCTION OF
THE US DOLLAR and the weakening of its role as the reserve currency in
the global market, was the underlying agenda of the Bilderberg Group,
which convened its most ominous meeting to date in Greece on May
According to an alleged Kremlin report, (and it’s
believable), the shadowy Bilderberg Group made up of financial,
political and corporate elite emerged from their conclave after coming
to an agreement that in order to continue their drive towards a
New World Order
dominated by the Western powers,
the US dollar had to be destroyed.
It looks like the rot at AIG
is not limited to FPG. While AIG officials have claimed that its
problems were isolated to FPG, the reality is that AIG seems to have
been running something akin to a shell game of massive proportions.
Its shell game version took the form of selling insurance and
assigning the resultant risks among its 71 different North American
Over the coming months, as
many as 1.5 million jobless Americans will exhaust their unemployment
insurance benefits, ending what for some has been a last bulwark
against foreclosures and destitution.
Tens of thousands of workers have already used up
their benefits, and the numbers are expected to soar in the months to
come, reaching a half-million by the end of September and 1.5 million
by the end of the year, according to new projections by the National
Employment Law Project, a private research group.
Obama says many months before U.S.
exits recession - Aug 2
"And when we receive our monthly job report next
week, it is likely to show that we are continuing to lose far too many
jobs in this country. As far as I'm concerned, we will not have a
recovery as long as we keep losing jobs," he said.
Stock market investors shrug off a disaster
in our midst: mass layoffs. Investors act as though it will soon be
business as usual. Companies cut costs by firing employees that have
been with them for decades. Then the companies can report higher
earnings from cost-cutting measures. The media then proclaim an
increase in earnings. But how will these increases be sustained? How
will an unemployment rate of 11% help get the economy back on its
I guess you should get while the getting is
good, but this is going totally parabolic. That money has to
come out of somewhere, by the way, in order for the
sale to succeed, which is going to get rather interesting at some
point - but exactly where it matters is impossible to know.
I expected that when we crossed the $100 billion threshold in a
week the market would throw up all over it, but it didn't. Now
we've got the government trying to sell a quarter of a trillion
dollars in debt over the next week, the announcement is out there, and
while the bond market is selling off to a material degree equities
could care less!
This is flat-out insane. At this run rate we would be trying
to sell twelve trillion dollars over one year's time,
an obviously ridiculous and impossible-to-peddle amount of debt at any
What do China, India, Brazil, Russia, France
and Germany have in common? These countries most often can’t agree on
anything. But they are united in one strange—and ominous—way. They
blame the United States for wrecking the global economy. And they
think the dollar is the wrecking ball.
One rock-solid, foundational belief underpins almost all economic
theory in America: faith in the dollar’s unassailable status as the
world’s reserve currency. Foreigners hold so many dollars that they
can’t afford to stop buying them, the theory goes. Therefore the
dollar’s status as the world’s reserve currency is sound. But the
dollar is now coming under a concentrated attack. Are American
economists about to get schooled?
According to the watchdog
overseeing the federal government’s financial bailout program, the
full exposure since 2007 amounts to a whopping $23.7 trillion dollars,
or $80,000 for every American citizen.
Vice President Joe
Biden told people attending an AARP town hall meeting that unless the
Democrat-supported health care plan becomes law the
nation will go bankrupt
and that the only way to avoid that fate is for the government to
spend more money.
Returning from China last
month, U.S. Congressman Mark Kirk had a bearish take on a high-level
visit by American officials.
Treasury Secretary Timothy Geithner claimed the
U.S.’s biggest creditor voiced great confidence in its debt. Kirk, an
Illinois Republican, came back with the opposite impression.
“China is beginning to
cancel Congress’s credit card,” he told
Fox News on June 10. It “doesn’t want to lend much more money to the
United States and especially is worried about the Fed’s policy of
printing money to buy new debt.”
The US economy is lurching towards
crisis with long-term interest rates on course to double, crippling
the country’s ability to pay its debts and
it into another recession, according to a
study by the US’s own central bank.
An economy bigger than Russia,
Brazil, Canada, India or Spain is in imminent risk of defaulting on
its debts. Which nation am I talking about? Not a country . . . but
the state of California. California’s GDP was around $1.812 trillion
in 2007. According to the International Monetary Fund, that is bigger
than the 2008 GDP of every country in the world except the US, Japan,
China, Germany, France, UK and Italy . Given that California has more
people than any other state in the US, and some of the largest
agricultural, manufacturing, high-tech and defense sectors in the
nation, you would think that helping California would be important.
And yet instead of helping California the federal government is giving
aid to Goldman Sachs, JP Morgan and the other financial giants who
helped to cause the financial crisis, and to Israel and other foreign
countries. Does that make any sense? Note: Depending on which
source is cited (CIA World Factbook, World Bank, or IMF), California
ranks somewhere between 7th and 10th in world GDP.
The numbers are staggering and
are aggregates of official data. They matter because various Obama
administration officials including the President himself started off
calling for huge stimulus packages to help generate "jobs, jobs,
But now, I have been hearing more and more from
senior Obama economic team members about the jobs they hoped for
coming at the very tail end of an economic recovery. Others are
talking about a GDP recovery -- but not a jobs recovery. They are
admitting as well that they underestimated the severity of this
recession and its impact on unemployment levels.
And all this while Goldman Sachs and other financial
houses have seen their balance sheets get cleaned up and bonuses
Fannie Mae reported a steep increase in the
percentage of home mortgages with overdue payments.
The government-backed mortgage investor said in a monthly summary
released Monday that 3.42% of the single-family mortgages it owns or
guarantees were 90 days or more delinquent in April, up from 3.15% a
Fannie's main rival, Freddie Mac, reported last week that its
single-family delinquency rate for May was 2.62%, up from 2.44% in
In its busiest weekend in decades, the FDIC
closed 5 more banks bringing the number of total bank failures for the
year to 45.
This weekend exceeded the previous record
when 4 banks failed on a single weekend in February. Two of the seized
banks were located in California, two more in Georgia and one in
Minnesota. The FDIC was able to find buyers for 4 of the 5 failed bank
Community Bank of West Georgia failed in the true sense of the
word. The FDIC did not find a suitable bank to assume their deposits.
The FDIC will mail checks directly to depositors for an amount
within the FDIC insurance coverage limit. It is estimated that the
bank had $1.1 million of uninsured deposits.
California's controller said on
Wednesday that he would have to
issue IOUs in a week if
lawmakers can't quickly solve a $24 billion budget deficit, and the
state's treasurer plans to tap a reserve fund to meet debt service
costs. The measures came as a budget crisis deepened in the most
populous U.S. state and the gridlocked legislature
failed to pass
a proposed $11 billion in cuts.
how someone or something unloaded 7+ million in JP Morgan shares
before market close? Wasn't it something like 1.5 million in the blink
of an eye? Someone wants out and now, but that's odd looking at $JPM's
performance for the last few weeks
According to US
Treasury data issued Monday, Beijing owned 763.5 billion dollars in US
securities in April, down from 767.9 billion dollars in March. .
It was the first month since June 2008
that Beijing failed to purchase more U.S. T-Bills.
June 15, 2009 "Truthdig"
There are meetings being held Monday and Tuesday in Yekaterinburg,
Russia, (formerly Sverdlovsk) among Chinese President Hu Jintao,
Russian President Dmitry Medvedev and other top officials of the
six-nation Shanghai Cooperation Organization.
The United States,
which asked to attend, was
Watch what happens there carefully....It is the
first formal step by our major trading
partners to replace the dollar
world’s reserve currency.
U.S. credit card defaults rose
to record highs in May, with a steep deterioration of Bank of America
Corp's (BAC.N) lending portfolio, in another sign that consumers
remain under severe stress.
Delinquency rates an indicator of future credit
losses fell across the industry, but analysts said the decline was due
to a seasonal trend, as consumers used tax refunds to pay back debts,
and they expect delinquencies to go up again in coming months.
This week marks the end of the
dollar’s reign as the world’s reserve currency.
It marks the start of a terrible period of economic and political
decline in the United States. And it signals the last gasp of the
American emperium. That’s over. It is not coming back. And what is to
come will be very, very painful.
Barack Obama, and the criminal class on Wall Street,
aided by a corporate media that continues to peddle fatuous gossip and
trash talk as news while we endure the greatest economic crisis in our
history, may have fooled us, but the rest of the world knows we are
bankrupt. And these nations are damned if they are going to continue
to prop up an inflated dollar and sustain the massive federal budget
deficits, swollen to over $2 trillion, which fund America’s imperial
expansion in Eurasia and our system of casino capitalism. They have us
by the throat. They are about to squeeze.
This is no recession. We are
already on our way to a Depression (a GDP contraction of 10%) possibly
even another Great Depression. One in nine Americans are currently
receiving food stamps. Real unemployment (without birth/death seasonal
nonsense and all the other Federal gimmicks) stands at 20%.
So I don't buy the "green shoots" theory at all.
Having things get horrendous at a slightly slower rate is NOT a sign
of a recovery. Green shoots can pop up anywhere including the asphalt
in the parking lot outside my office. That doesn't mean the parking
lot is about to become a lush meadow.
There is a wonderful
smell of delusion in the air. As the state marches on to economic
Armageddon, there is now a large portion of bottom callers jumping
into the market. Many investors are now buying up homes in the Inland
Empire and other depressed areas for 50, 60, and sometimes 70 percent
off peak prices. A mentor once told me, “at times, things are cheap
for a reason.” At the low end, we may be seeing signs of a bottom. But
one thing people forget is that this does not necessitate that prices
will bounce up. Since we have emulated Japan in everything concerning
fiscal and monetary policy, we may have a stagnant decade of real
estate ahead of us. So for those buying homes for $100,000 and
collecting $800 in rent, you are a long way from cash flowing like a
U.S. foreclosure filings
surpassed 300,000 for the third straight month in May and may hit a
record 1.8 million by the first half of the year, RealtyTrac Inc.
A total of 321,480 properties received a default or
auction notice or were repossessed last month, up 18 percent from a
year earlier, the Irvine, California-based seller of default data said
today in a statement. One in 398 U.S. households received a filing
I have an unfortunate
sense that the “green shoots” in the economy that everyone is talking
about are nothing but dandelions. Sure, forcing $1 trillion of
taxpayer money in direct capital, guarantees, and diminished cost of
borrowing into the banking sector has permitted the major banks to
claim solvency for the moment. Yet we should not forget that this
solvency has come not through a much needed deleveraging of the
banking sector but rather from a massive transfer of the obligations
of private banks to the public, with the debt accruing to future
generations. And overall loan quality at U.S. banks is still the worst
in 25 years and deteriorating at
the fastest pace ever.
Replacing the dollar
has HUGE implications and the U.S. Government knows it.
Surfersvillage Global Surf News, 7 June, 2009
"The major powers of the world (Brazil, India, China, Russia) know
that once the dollars’ reserve currency status of the world is gone,
the U.S. military will shrink until it is a more even match-up of
players and they will have a greater say in world affairs."
Indeed, the Treasury’s
financial crisis looms so large, it could wreck more havoc on the
economy and deliver more pain to average Americans than the subprime
mortgage disaster, the housing bust, the banking crisis, and the
collapse of General Motors put together …
It could create a rising tide of interest rates that
wipes out the effects of any stimulus, undermines any recovery, and
sabotages any new bailouts …
But unlike GM, Fannie Mae, Citigroup, AIG, and the
many others that the U.S. Treasury has bailed out in recent months,
there is no
institution on the planet big or rich enough to bail out the U.S.
Alabama’s most populous county
is preparing to stop road maintenance, close courthouses and shutter
services for the elderly after a court struck down taxes that pay for
about 35 percent of its budget.
Jefferson County, which includes Birmingham,
released a plan to cut $52 million from its budget as it appeals the
ruling against its business and occupational taxes to the Alabama
Supreme Court. Without that revenue, the county has said it is at risk
of running out of money as
soon as this month.
Investors have been blindsided
by one financial catastrophe after another over the last 18 months,
but throughout the tumult, the government bond market has been their
A brutal drop in long-dated Treasury prices has
caught even the best money managers off guard -- in some cases wiping
out as much as 60 percent of the gains they booked in last year's huge
rally in U.S. Treasuries.
Russia and China should consider
switching to domestic currencies in bilateral trade without going to
the dollar, Russia's president
Dmitry Medvedev said in an
interview with Kommersant daily published on Friday.
No one really knows how many
houses are owned by banks. Banks often buy homes in foreclosure to
limit losses, hoping that they'll be able to turn the house around for
a profit later. But after months and months of foreclosures, banks may
now be preparing to sell the houses they've been buying. Anecdotal
evidence from Las Vegas, one of the foreclosure capitals of the US,
suggests that we're about to see a release of bank-owned home
inventory into the market.
The giant US bank JPMorgan
Chase has reportedly hired a newly-built supertanker to store heating
oil off the Mediterranean island of Malta. Other companies, including
BP and a unit of Citigroup, have also hired ships to store either
crude oil or oil products.
According to Bloomberg.com, “Traders were already
using smaller tankers to store record volumes of jet fuel and heating
oil in Europe as on-shore tanks filled up.”
One of the biggest
bankruptcies in history occurred on June 1st yet you would not know
this by looking at the stock market. In fact, the Dow Jones Industrial
Average (DJIA) shot up by 220 points. If we look at total assets, this
is the fourth largest bankruptcy in history. The Dow is made up of 30
companies that show a supposedly wide cross section of the American
economy. The company that filed for bankruptcy was General Motors and
was actually one of the 30 components. A company that dates back to
1908 and survived the Great Depression. So how can it be that a
company that employs 250,000 filing for bankruptcy is actually good
for the stock market and makes the DJIA rally so strongly? The easy
answer is the stock market no longer reflects the economic reality on
Because it's being manipulated
Dubai calls on the Rothschild bank for help, perhaps out of
desperation. In Saudi Arabia a Saad Group company defaults. US,
European and Asian banks are struggling. The end of Ramadan in
September might mark the start of an economic depression worse than
that of the 1930s.
The Fed can of course
print money to buy up every Treasury bond in existence, but the
inflationary ramifications would be Zimbabwe like, and crush the
dollar on international currency markets. Are we near the phase where
all hell breaks loose? I have never even answered, maybe, to this
question before. It's always been, "no." Now it's maybe.
OVERALL loan quality at American
banks is the worst in at least a quarter century, and the quality of
loans is deteriorating at the fastest pace ever, according to
statistics released this week by the Federal Deposit Insurance
The big story that
everyone will be talking about is the rapidly increasing yield on
longer-term maturities, and what that means for both the economic
recovery and the US' ability to finance its gigantic debt. Matters of
previously theoretical concern (what
happens if the world doesn't want to keep financing us anymore
- See news below)
are now coming into the fore.
General Motors Corp., the world’s
largest automaker until its 77-year reign ended in 2008, plans to file
for bankruptcy protection on June 1 and sell most of its assets to a
new company, people familiar with the matter said.
and foreclosures rose to records in the first quarter and home-loan
rates jumped to the highest since March this week as the government’s
effort to fix the housing slump lost momentum.
hovered near a 13-year low and the number of Americans collecting
unemployment insurance reached a 17th straight record, offering no
sign of an imminent rebound from the worst U.S. recession in half a
But the head of the Dallas Federal
Reserve bank says: [There is a] "very big hole" in unfunded pension
and health-care liabilities built up by a careless political class
over the years. "We at the Dallas Fed believe the total is over $99
trillion," he said in February.
manipulation just as many have been warning that this rally is fake
and is about to end with a crash.
“Something strange happened during the last 7 or 8 weeks. Doreen you
probably can concur on this -- there was a power underneath the market
that kept holding it up and trading the futures. I watch the futures
every day and every tick, and a tremendous amount of volume came in a
several points during the last few weeks, when the market was just
about ready to break, and it shot right up again. Usually toward the
end of the day – it happened a week ago Friday, at 7 minutes to 4
o’clock, almost 100,000 S&P futures contracts were traded, and then in
the last 5 minutes, up to 4 o’clock, another 100,000 contracts were
traded, and lifted the Dow from being down 18 to up over 44 or 50
points in 7 minutes. That is 10 to 20 billion dollars to be able to
move the market in such a way. Who has that kind of money to move this
On top of that, the market has rallied up during the stress test
uncertainty and moved the bank stocks up, and the bank stocks issued
secondaries – they issues stock – they raised capital into this rally.
It was perfect text book setup of controlling the markets – now that
the stock has been issued…” [interrupted by Richard Suttmeier].
The Fed's doing it.
The Bank of England says it plans to do it, too. With printing money
(or as they say today, "quantitative easing") back in fashion, TIME
reflects on Germany's efforts in the 1920s — and the crisis that
followed. Two days and store shelves were empty
Two days is all it took to
clear the store shelves when Germany's crash came and that was done by
people who had cash... get buying now... you have been warned for a
long time. The wise prepare for the disaster they see coming.
Nissan Motor Co. is likely to receive more
than Ą100 billion in low-interest loans set up by the U.S. government
to promote the development of and transition to electric vehicles and
other fuel-efficient cars, sources said Friday.
planning to mass vaccinate most of the planet. See the many news
articles on the home page.
for Project Blue beam to work they have to lower our immune systems.
This has to happen directly after Damascus destruction. Be wise and
educate yourself on Project blue beam which is the only scenario that
could possible deceive even the elect as we have to see the Lord
return in the clouds in order to believe he is back. Global
PROJECT BLUE BEAM AS DESCRIBED BY
Veteran financial guru
Jim Rogers warned CNBC viewers
today that the stock market has yet to
hit a bottom despite people ploughing their money back into a
as the Bilderberg Group’s plan to
pull the rug out
from under euphoric investors
was horrible. Horrible! Like lightning it struck. No one was prepared.
The shelves in the grocery stores were empty. You could buy nothing
with your paper money.” – Harvard University law professor Friedrich
Kessler on the Weimar Republic hyperinflation (1993 interview)
Some worried commentators are predicting a massive hyperinflation of
the sort suffered by Weimar Germany in 1923, when a wheelbarrow full
of paper money could barely buy a loaf of bread. An April 29 editorial
in the San Francisco Examiner warned:
“With an unprecedented deficit that’s approaching $2 trillion, [the
President’s 2010] budget proposal is a surefire prescription for
hyperinflation. So every senator and representative who votes for this
monster $3.6 trillion budget will be endorsing a spending spree that
could very well turn America into the next Weimar Republic.”1
Prechter even managed to call
this year’s March bottom, expecting a substantial bear market rally at
around 6,300 on the Dow, close to the bottom. However, he expects the
market to resume its downward trend shortly, ending with a decline
similar to the 86% in real terms of 1929-32 as we are in a long
Elliott Wave downswing. That would take the Dow down to around 2,000.
Personally, I would not go that far. This does not
look like a reprise of the Great Depression, although it could still
turn into one with enough policy mistakes another “stimulus plan,” or
a big dose of protectionism, for example. However, the downward
macroeconomic momentum looks bigger than in either 1974 or 1982, bear
markets that both brought real-term drops of slightly more than 50%
from previous highs.
The economy faces an "emergency
situation," Finance Minister Yuval Steinitz warned on Monday, while
urging lawmakers to support the government's draft budget, as Israeli
exports plunged 32 percent in the first four months of this year
Harold Davidowitz is a an analyst and consultant to
the retail industry operating his own firm Davidowitz & Associates.
He's in the wrong industry. He should have Tim Geithner's job. This
guy is a frggin' genius. Seriously, watch both clips and tell me he
doesn't have a better grasp than Geithner and Summers.
Fannie Mae and Freddie Mac, charged
with helping lead the nation out of its housing crisis, are facing
"critical" financial problems, federal regulators said Monday.
The companies suffer from severe
financial, operational and compliance weaknesses, the Federal Housing
Finance Agency said a report to Congress detailing its annual
examinations of the firms. Taken over by the government in September,
Fannie and Freddie are not able to operate without federal assistance.
President Barack Obama,
calling current deficit spending “unsustainable,” warned of
skyrocketing interest rates for consumers if the U.S. continues to
finance government by borrowing from other countries.
The Truth is seen below he was
rejected by Saudi Arabia and China and has no choice but to say this .
“We can’t keep on just borrowing from China,” Obama
said at a town-hall meeting in Rio Rancho, New Mexico, outside
Albuquerque. “We have to pay interest on that debt, and that means we
are mortgaging our children’s future with more and more debt.”
4 articles down under Obama's
S.O.S. and you will see why he is now saying this = the u.s. has no
one to keep funding their debt = economic crash coming soon within
months so start buying food or wished you had. The wise prepare for
The green shoots story took a bit of hit this
week between data on April retail sales, weekly jobless claims and
foreclosures. But the whole concept of the
economy finding its footing was “preposterous”
to begin with, says Howard Davidowitz, chairman of Davidowitz &
“We’re in a complete mess and the consumer is smart
enough to know it,” says Davidowitz, whose firm does consulting for
the retail industry. “If the consumer isn’t petrified, he or she is a
Davidowitz, who is nothing if not opinionated (and
colorful), paints a very grim picture: “The worst is yet to come with
consumers and banks,” he says. “This country is going into a 10-year
decline. Living standards will never be the same.”
reported its first annual net loss in 14 years and
forecast a bigger
loss this year, saying the pressure
from sliding sales, competition in gadget prices and a strong yen was
expected to continue.
U.S. industrial production
tumbled a 15th time in 16 months during
April, cut down by massive business inventory liquidation.
Industrial production decreased by 0.5% in April
compared to the prior month, the Federal Reserve said Friday. Output
fell 1.7% in March, revised from a previously estimated 1.5% decline.
Capacity utilization shrank in April to 69.1%, a
historical low since records began in 1967. March capacity use was a
revised 69.4%; originally, "cap-U" was estimated at 69.3% in March.
The 1972-2008 average was 80.9%.
I need to put the $33
trillion into perspective, because it is so big that it is almost
incomprehensible. According to Wikipedia..., total private wealth
across the world today is about $37 trillion less the losses incurred
in 2007-09, so the real number is probably closer to $30 trillion now.
Total global savings (loosely adjusted for the big losses in 2008) are
probably somewhere in the region of $100 trillion. In other words,
financing this crisis could absorb one-third of total global
START BUYING FOOD
... WHAT MORE DO YOU NEED TO SEE.
The current block of taxpayer money
that has been pledged by the US government and the Federal Reserve to
prevent the system from collapsing, according to an analysis by
Bloomberg News, is roughly $12.8
trillion as of March 31. This
money has been lent, spent or guaranteed to prevent a systemic
You can not buy your
way out of debt with debt = massive collapse is in our future.
Retail sales in the U.S.
unexpectedly dropped in April for a second month, indicating that
rising unemployment is prompting consumers to conserve cash.
The 0.4 percent decrease followed a revised 1.3
percent drop in March that was larger than previously estimated, the
Commerce Department said today in Washington. Other reports showed
companies continued to cut stockpiles as demand slowed, and climbing
oil costs pushed up prices for imported goods.
Fewer jobs, falling home values and the biggest loss
of household wealth on record may limit consumers’ ability to spend
for years, analysts said. Stocks dropped for a third day as the
reports indicated any recovery from the worst recession in at least
half a century is likely to be subdued.
“It looks like consumers are losing momentum heading
into the second quarter and that is a very worrisome development,”
said Carl Riccadonna, an economist at Deutsche Bank Securities Inc. in
New York. “They have very significant headwinds and number one among
them is that the labor market is far from turning the corner.”
Last month, banking
analyst Mike Mayo predicted that loan loss rates could go as high as
5.5%, which is substantially higher than during the 1930s.
But the Federal Reserve's more adverse scenario for the stress tests -
which everyone knows is too rosy concerning most of its assumptions -
predicts a loan loss rate of 9.1%, nearly three times higher than
during the 30s.
Fannie’s regulator wants $19 billion
from the U.S. government because the firm has negative capital. Fannie
Mae had $23.2 billion in losses last quarter alone. And it says losses
in 2009 will be worse than 2008.
hard to believe what is taken as good news. 539,000 jobs were lost in
April yet this was taken as a positive because it wasn’t 600,000.
Forget about the fact that the revised number for March was moved
upward to 699,000 from an initial 663,000. So it may be the case when
the final number for April is calculated in June, we might have
another 600,000 job loss month.
A world stock market collapse could
be imminent as a source of dollar support. We wonder how low they will
let the dollar go before they collapse the stock markets to chase
people back into US treasuries, which have also broken down, with
treasury interest rates on the rise despite various Fed purchases of
treasuries in the hundreds of billions.
According to one analysis, short
sales resulted in loan losses of only 19 percent, compared with an
average loss of 40 percent on homes sold after foreclosure. So
why aren't these sales more widely used? The broad answer is
that the American financial system simply can't handle a collapse of
this magnitude. The fates of the banking and real estate industries
are intertwined. But they don't work together and the result is that
they end up working against each other.
New York Times - MICHAEL J. de la MERCED -
GMAC, Among the Weakest, Seems in Line for a Bailout
-It looks as if one more bank needs a bailout. And, four months ago,
this bank was not even a bank. GMAC must raise a staggering $11.5
billion in capital, the equivalent of roughly half its current equity.
Wells Fargo & Co.,
the fourth-largest U.S. bank by assets, requires about $15 billion in
new capital as a result of regulators' stress test on the lender,
according to a source familiar with the matter.
A growing number of U.S.
homeowners owe more than their properties are worth after prices
extended their two-year decline in the first quarter, Zillow.com said.
About 21.8 percent of all owners were underwater as
of March 31, the Seattle-based real estate data service said in a
report today. At the end of the fourth quarter, 17.6 percent of
homeowners owed more than their original mortgage, while 14.3 percent
had negative equity three months earlier.
Property values dropped 14 percent from a year
earlier in the first quarter, reducing the median value of U.S.
single- family homes, condominiums and cooperatives to $182,378,
Zillow said. The decline has left about 20.4 million of the U.S.’s 93
million houses, condos and co-ops with loans higher than the
properties are worth. The gain in underwater homeowners will lead to
more bank repossessions, Zillow said.
Many owners “would be more willing to bear the
financial consequences of bankruptcy or foreclosure,” Stan Humphries,
Zillow’s vice president of data and analytics, said in an interview.
“You are going to continue to see home prices fall for the rest of
this year and some portion of next year.”
Thought that subprime
housing was the only real estate market with big problems? Think
again. The reason that you've only heard about subprime mortgages is
because most of them were due to "reset" over the past year and a
half, which was accomplished by the banks taking mortgage cartridges
out of the system, blowing into them several times, and putting them
back in. In layman's terms, a mortgage "reset" is a part of many
mortgage contracts that generally calls for either a payment of a
certain amount to be made after five to seven years, or for the
mortgage to be re-negotiated after that same period of time (or both).
transmitted directly into a target's skull,
through a target's wall, of course, can drive the
through-the-wall target crazy,
and if the target complains, the target will be
immediately diagnosed as mentally ill.
The perfect crime.
when you should sell, sell when you should buy, and now the country of
Mexico just brings it's economy to a devastating halt and the stop
market climbs .... yep all you stupid people get in while you still
can before it completely collapses...do not sell thats for wise people
who can see... hurry it's sinking get in.
Due to the lifting of the
foreclosure moratorium at the end of March, the downward slide in
housing is gaining speed. The moratorium was initiated in January to
give Obama's anti-foreclosure program a combination of mortgage
modifications and refinancing a chance to succeed. The goal of the
plan was to keep up to 9 million struggling homeowners in their homes.
But it's clear now that the program will fall well-short of its
Wall Street's stunning
six-week rally has been fed more by traders looking to take advantage
of quick swings in the market than investors with a long-term view,
NYSE Euronext (NYSE:NYX - News) CEO Duncan Niederauer told CNBC.
Because of that, the rally likely is to run out of
steam as low volume eventually comes back to the bite the market, he
This recession is
already the longest since the Great Depression. Now merely saying that
this recession is the longest does not expose the magnitude and depth
of the economic damage inflicted on the market. $11.2 trillion has
been wiped off the balance sheet of American households.
Citing a backbreaking caseload of
foreclosures, the court serving the nation’s second-most populous
county has decided to postpone most foreclosures until September,
while it attempts to work through tens of thousands of existing
filings. Cook County, Illinois is home to Chicago and surrounding
areas and is also traditionally a foreclosure hotspot.
One day after President Barack Obama
defended the multi-trillion-dollar bailout of the banks and pledged to
funnel more taxpayer funds into their coffers, the Wall Street Journal
published a front-page article headlined “Banks Ramp Up Foreclosures.”
Properties Inc. filed the biggest real estate bankruptcy in U.S.
history after amassing $27 billion in debt during an acquisition spree
that turned it into the second-largest shopping mall owner.
At a formal press announcement
Monday and in media appearances over the next day, US Secretary of
Defense Robert Gates unveiled the biggest military budget in world
history, in anticipation of an endless series of Iraq and
Afghanistan-style wars by American imperialism.
sponsored a first-of-its-kind war game last month focused not on
bullets and bombs but on how hostile nations might seek to cripple the
U.S. economy, a scenario made all the more real by the global
Major chains on Thursday reported
March sales results that were worse than their February figures,
though the rate of economic deceleration that plagued stores during
the holidays has slowed a bit. Sales for the overall retailing
industry fell 1.8 percent, according to Thompson Reuters.
A single clause in Point 19 of
the communiqué issued by the G20 leaders amounts to revolution in the
global financial order.
“We have agreed to support a general SDR allocation
which will inject $250bn
(Ł170bn) into the world economy and increase global liquidity,” it
said. SDRs are Special Drawing Rights, a synthetic paper currency
issued by the International Monetary Fund that has lain dormant for
half a century.
In effect, the G20 leaders have activated the IMF’s
power to create money and begin global “quantitative easing”. In doing
so, they are putting a de facto world currency into play. It is
outside the control of any sovereign body. Conspiracy theorists will
It has been a good summit for the IMF. Its fighting
fund for crises is to be tripled overnight to $750bn. This is real
Finance -As in the accompanying video,
Russell pulled no punches when he was (inevitably) asked for his views
on the market: "This bear market will be deeper and longer than most
people think," said the legendary market watcher. "People got
optimistic too quick" about the recent rally, which he says is doomed
to fail. "None of the characteristics of a major bottom" are evident,
most notably dirt cheap valuations.
Fed chief Ben
Bernanke has embarked on the most radical and ruinous financial rescue
plan in history. According to Bloomberg News, the Fed has already lent
or committed $12.8 trillion
trying to stabilize the financial system after the the bursting of
Wall Street's speculative mega-bubble. Now Bernanke wants to dig an
even bigger hole, by creating programs that will provide up to $2
trillion of credit to financial institutions that purchase toxic
assets from banks or securities backed by consumer loans. The Fed's
generous terms are expected to generate a flurry of speculation which
will help strengthen the banking system while leaving the taxpayer to
bear the losses.
consumers are falling behind on their mortgages, an indication that
the housing market has yet to hit bottom, a top credit bureau
executive told Reuters (April 7).
U.S. Information Systems for
Equifax Inc, reported that 7 percent of homeowners with mortgages were
at least 30 days late on their loans in February, an increase of more
than 50 percent from a year earlier.
He also said 39.8 percent of
subprime borrowers were at least 30 days behind on their home mortgage
loans, up 23.7 percent from last year.
A quarter of the
world's companies, and 40 percent in the United States, plan to freeze
salaries this year, but employees in South America and India can look
forward to robust rises, a global survey shows on Tuesday.
The IMF said in January that it
expected the deterioration in US-originated assets to reach $2.2
trillion by the end of next year, but it is understood to be looking
at raising that to $3.1 trillion in its next assessment of the global
economy, due to be published on April 21. In addition, it is likely to
boost that total by $900 billion for toxic assets originated in Europe
Greece is on the
brink of bankruptcy despite the fact that the global recession has yet
to hit the country with full force. Strikes are paralyzing the country
and the EU is putting on the pressure. But the government is still
trying to put a positive spin on things.
as a financial crisis has become a global economic crisis. I fear
worse to come: a full-blown political crisis defined by growing social
unrest, weakened governments and angry publics who have lost all faith
in their leaders and their own future.
programs designed to rescue the nation's financial sector are
operating without adequate oversight, with vague goals and limited
disclosure of their details to the taxpayers who are paying for them,
government watchdogs told a Senate panel Tuesday.
Last Friday, the
Office of the Comptroller of the Currency reported that for the first
time in history commercial US banks have suffered a $3.4 billion
quarterly loss in a giant sector that they thought, until now, was
solid: that is, bets on interest rates. The loss was more than
seven times worse
than their previous quarterly loss in that category.
Companies in the
U.S. cut an estimated 742,000 workers in March, pointing to no relief
in sight for the labor market amid the longest recession in seven
decades, a private report based on payroll data showed today.
U.S. HAS A
POPULATION OF 300,000,000 AND NEARLY 1,000,000 JUST BECAME UNEMPLOYED
IN ONE MONTH.
gathering for Thursday's G20 summit in London were warned today by the
Organisation for Economic Co-operation and Development that the world
economy was shrinking much faster than previously thought and that
global trade was in freefall.
Stock futures are
down sharply this morning ahead of the open. The DJIA is down 170
points while the NASDAQ is off 21 points. The mainstream media sources
are attributing todays sell off to a comment made from the Obama
administration that suggests a GM bankruptcy is a possibility. Is that
really the reason for the sell off? GM is a company with a $2 billion
White House says neither GM nor Chrysler submitted acceptable plans to
receive more bailout money, setting the stage for a crisis in Detroit
and putting in motion what could be the final two months of two
American auto giants.
The number of
people filing initial claims for unemployment benefits rose last week,
while those filing continuing claims hit an all-time high for the
ninth straight week, according to a government report released
In the week ended
March 21, a total of 652,000 people filed initial jobless claims,
up 8,000 from the previous week's
revised figure of 644,000, the Labor Department reported Thursday.
European Parliament in Strasbourg, France, Prime Minister Mirek
Topolanek argued that the Obama administration’s fiscal package and
financial bailout “will undermine the stability of the global
problem with Tim Geithner's plan to fix the banks is the same as it
ever was: The gap between what banks say their assets are worth and
what the market says they are worth.
When a bank says an asset is worth
60 cents and the market says it's worth 30 cents, someone has to cover
that spread. The genius of Geithner's plan is that it pawns most of
the cost (and most of the risk) off on the taxpayer without the
“The job market
will be the last piece of this to recover,” said economist Sam Chandan,
a panelist at the quarterly meeting of the Real Estate Investment
Advisory Council. REIAC members were polled on questions including
where unemployment will top out; 64 percent said it could go as high
as 12 percent.
A wave of social
and political unrest could sweep through the world's poorest countries
if G20 leaders fail to come to their aid, the World Bank warns today,
as new research says the credit crunch will cost developing countries
$750bn (Ł520bn) in lost output and drive millions more into poverty.
The Fed’s decision
to purchase $300 billion of long-term treasury bonds is indicative of
two things: 1) The U.S. government has lost all sense of value
relative to its currency, and 2) The U.S. Federal Reserve is getting
desperate and is running out of options.
Far from giving the economy any kind of boost, these tactics are
essentially more of the same, which has already proven futile in terms
of getting the economy moving again. Major financial institutions are
not lending or borrowing much more than they were when the crisis
began, and all the Fed is doing is undermining what little value is
left in the U.S. Dollar.
The New York Times
World Business Nelson D. Schwartz Manufacturing has fallen off the
cliff, and it’s certainly the biggest decline since the Second World
War,” said Dirk Schumacher, senior European economist with Goldman
Sachs in Frankfurt.
The pattern of manufacturing and
trade ominously recalls how the financial crisis of 1929 grew into the
Great Depression: tightening credit and consumer fear reduced demand
for manufactured goods in one country after another, creating a
downward spiral that reduced global trade.
premier expressed concern Friday about its massive holdings of
Treasuries and other U.S. debt, appealing to Washington to safeguard
their value, and said Beijing is ready to expand its stimulus if the
estimate that nearly half of
China's $2 trillion in currency reserves
are in U.S. Treasuries and notes issued
by other government-affiliated agencies.
new about china's worries is not good as they could pull the plug on
the entire world economy and yes they would suffer badly but far worse
if they do not. 1 trillion in holdings of U.S. debt.
As I have
previously pointed out, unemployment may actually be higher than
during the same phase of the Great Depression. Specifically, as of
1930 - the year after the 1929 crash - the unemployment rate was 8.7
As of December 2008, U-6
unemployment was 13.5 percent. (U-6 is actually more accurate, because
it includes those who would like full-time work, but can only find
part-time work, or have given up looking for work altogether).
Investors take out
short trades when they expect a currency to fall. In recent days,
futures traders in the US have significantly increased their bets that
the euro will fall against the dollar. Data released by the
Washington-based Commodity Futures Trading Commission on Friday showed
that the "net short position" of trades against the euro by hedge
funds and speculators almost doubled in the week to March 3 to 19,431
contracts from 10,081 contracts a week earlier.
As the global
economy continues its downward spiral, rioting
due to this Wall Street led meltdown is spreading through the
like wildfire. The list of countries
experiencing civil unrest
is growing by the day, to name some recent hotspots: Bolivia, Bosnia, Brazil,
Britain, Bulgaria, Cameroon, China, Egypt, France, Greece, Germany,
Haiti, Iceland, India, Indonesia, Ireland, Ivory Coast, Latvia,
Lithuania, Mexico, Montenegro, Morocco, Nigeria, Pakistan, Panama,
Philippines, Russia, Senegal, Thailand, Turkey, Ukraine and Yemen.
In a bleaker
assessment than those of most private forecasters, the World Bank
predicted Sunday that the global economy would shrink in 2009 for the
first time since World War II.
The bank did not provide a
specific estimate, but bank officials said its economists would be
publishing one in the next several weeks.
Until now, even extremely
pessimistic forecasters have predicted that the global economy would
eke out a tiny expansion but had warned that even a growth rate of 5
percent in China would be a disastrous slowdown, given the enormous
pressure there to create jobs for the country's rural population.
AP - FairPoint posts 4Q loss amid higher costs
FairPoint posts 4th-quarter loss as expenses weigh on
results, company suspends dividend
CHARLOTTE, N.C. (AP) --
Communications service provider FairPoint Communications Inc. posted a
fourth-quarter loss Thursday as higher expenses weighed on results.
The company also suspended its quarterly dividend to preserve cash and
bolster its balance sheet.
For the full year, FairPoint
posted a loss of $68.5 million, or 85 cents per share, on sales of
A perfect storm of
bad news ripped through Wall Street on Thursday, sending the Dow
diving 281 points, the Nasdaq Composite to six-year lows and shares of
Citigroup below the $1 mark for the first time ever.
The Dow Jones Industrial Average fell 281.40 points, or 4.09%, to
MORE than 30,000
government employees - about 14 per cent of the public work force -
could lose their jobs and new taxes will be introduced as Puerto Rico
attempts to shore up its ailing economy, the governor of the US island
territory announced on Wednesday.
PEOPLE BRINGING THIS ABOUT ARE ALL INTO NUMEROLOGY AND 13 IS A
POWERFUL NUMBER WITH THESE WICKED MASONS)<- MY COMMENT
with Fri 13th of the 3 rd month coming!
According to todays ISM
release, the US Manufacturing sector dropped again in February while
the employment sentiment fell to its lowest reading ever. This is the
straight months of manufacturing declines.
The Institute for Supply Management’ s (ISM)
monthly purchasing managers’ index (PMI) registered a reading of 35.8%
in February. Readings under 50% are consistent with a recession.
All of the 18 sectors surveyed reported a decline
in February. The employment sentiment index dropped to 26.1%, the
PEOPLE BRINGING THIS ABOUT ARE ALL INTO NUMEROLOGY AND 13 IS A
POWERFUL NUMBER WITH THESE WICKED MASONS)<- MY COMMENT
with Fri 13th of the 3 rd month coming!
Looks like Rivero's March 6,000
prediction may be correct.
Futures for the Dow Jones Industrial Average are down sharply
indicating an opening of 6,918, the lowest level in
News of a massive loss from AIG, and the announcement that HSBC will
pull out of the US consumer lending business is weighing in on the
market. HSBC reported a 70% drop in profits as well as a dividend cut.
The panic phase is
an acceleration in the economic decline … a chain reaction of debt
explosions … a free-fall in the financial markets … and a series of
rude awakenings that will accelerate the decline even further.
03 Mar 2009 Bad
debts and the global downturn are
credit ratings of Australia's Big Four banks,
while new figures show business profitability is suffering its biggest
fall in almost two decades. As Wayne Swan warned that the severe
economic downturn faced by Australia's trading partners represented a
threat to growth, and the share market tested seven-year lows, credit
Moody's yesterday issued a warning on three of Australia's biggest
News of the Citi
takeover rattled the markets and the Dow Jones fell further by weeks
end closing at 7,063 which was the lowest closing price since 1996.
The odds of the Dow Jones challenging the 6,000 level has increased
Prices of US
Treasuries fell for a third consecutive day Thursday as excess supply
swamped the market for government debt. Today's specific culprit was a
huge 7-year note auction, though we are at last seeing an overall
awakening by bond traders to the reality that a mountain of supply is
coming and it will not be slowing down. The
are finally beginning to show in the last remaining
Delicate fiscal issues never discussed openly as recently as 12 months
ago, are now standard fare. The economist wondered aloud if the US
will be forced to default. Clusterstock has asked 'Default or
Hyper-inflation? An academic paper is floating around questioning the
solvency of the Fed.
wrote in our 2009 forecast, contrary to Wall St consensus, that we
expect the Dow Jones to breach the 6,000 level this year and touch
upon 5,800. The risk to our outlook would have been if the Dow Jones
was able to hold the 2002 low but today’s action just raised the
probability of breaching the 6,000 mark.
Very large? That's it? Just very
large? Twenty-five trillion dollars in losses are merely very large?
That is twice the size of the gross domestic product of European
It is not as
though there is a lot of time to deal with this. Bank runs can take
place very fast. What if Europeans try to pull out currency? There
will not be enough currency. So, they will move their assets to
American or Japanese banks. They will have to sell their domestic
currencies to buy dollars and yen. The euro will crater.
Bank for Reconstruction and Development (EBRD) says bad debts will
top 10pc and may reach 20pc. The Vienna press said Bank Austria and
its Italian owner Unicredit face a "monetary Stalingrad" in the
East. . . .
currency chief at Morgan Stanley, said Eastern Europe has borrowed
$1.7 trillion abroad, much on short-term maturities. It must repay –
or roll over – $400bn this year, equal to a third of the region's
GDP. Good luck. The credit window has slammed shut.
Russia can easily cover the $500bn dollar debts of its oligarchs
while oil remains near $33 a barrel. The budget is based on Urals
crude at $95. Russia has bled 36pc of its foreign reserves since
August defending the rouble.
"This is the
largest run on a currency in history,"
said Mr Jen.
stores may close this year in America, says our guest, retail
consultant Howard Davidowitz of Davidowitz & Associates. As more
Americans save and spend less, it's clear there's too much retail
space. Just visit Web site deadmalls.com and track retail's growing
body count. And luxury retailers? They're on "life support,"
face an entirely new wave of losses in coming months not yet
calculated in any government bank rescue aid to date. Unlike the
losses of US banks which derive initially from their exposures to
low-quality sub-prime real estate and other securitized lending, the
problems of western European banks, most especially in Austria, Sweden
and perhaps Switzerland arise from the massive volumes of loans they
made during the 2002-2007 period of extreme low international interest
rates to clients in eastern European countries.
(I could list all
the Job losses but I will stick to the really big ones or this page
will become to long.)
And late in the
day, General Motors delivered the news that will make auto towns like
Oshawa and St. Catharines cringe. The world's biggest car company says
it will need between US$16.6 and $30 billion in federal aid to get
back on all four wheels - and it will have to shed a startling 47,000
positions to do it. It will also close five plants but won't say which
The Russian stock
market collapsed today, causing the RTS and the Micex stock exchanges
to suspend trading for one hour at 4:05 p.m. Moscow time. The RTS
stock index, which is denominated in US dollar,
while the ruble-denominated Micex stock index fell
apparently someone in Asia, wants dollars. A LOT of dollars. There is
a forced-liquidation event underway that is massive, it is against all
asset classes and it is spreading.
It originated at approximately
7:15 CT this evening and originated out of Asia somewhere. All of the
primary currency crosses got hit at once - Euro, Pound, Yen - all
weakened dramatically against the dollar and it is still going on. The
Asian stock markets got walloped at the same time in coordinated waves
of forced selling.
Jesus warned us
not to have fear
but to have faith
in him to protect us but still be wise as serpents and prepare with
Cash and bulk food buys.
It is not a matter
of if this will happen but when this will happen and the freemason
mouth pieces are warning us it could happen all in one day so prepare
even though these wicked people who are bringing this about are
selling fear and are inherent liars still heed their warnings to
prepare as this is happening world wide.
Eastern Europe is
about to blow. If it does, it could take much of the EU with it.
It's an emergency situation
but there are no easy solutions. The IMF doesn't have the resources
for a bailout of this size and the recession is spreading faster than
relief efforts can be organized. Finance ministers and central bankers
are running in circles trying to put out one fire after another. Its
only a matter of time before they are overtaken by events. If one
country is allowed to default, the dominoes could begin to tumble
through the whole region. This could trigger dramatic changes in the
political landscape. The rise of fascism is no longer out of the
economist John Williams, editor of ShadowStats.com, a popular website
that tracks real inflation figures, is advising that people hoard
physical gold as well as food
items in bulk so that they have
some means with which to barter as the economic crisis turns ugly.
Obama’s stimulus plan will be insufficient to avert the biggest U.S.
economic decline since 1946 as consumer spending posts its longest
slide on record, according to a monthly Bloomberg News survey.
GOD TOLD US TO
LIVE BY FAITH
NOT FEAR BE STRONG AND TRUST IN THE LORD
BUT SMART AND
START PLANNING FOR DISASTER ....IT IS COMING.
for what is being said in this video... We are very close to a dollar
collapse in the U.S. which will bring down the world economy and it
almost happened. These masons always sell fear and embed Hypnosis into
their videos so Pray the Lord protect you but watch this video and
Know they always tell us in advance what they are going to do to us .
At 2 minutes, 20 seconds into this
C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how
the Federal Reserve told Congress members about a "tremendous
draw-down of money market accounts in the United States, to the tune
of $550 billion dollars." According to Kanjorski, this electronic
transfer occurred over the period of an hour or two.
Another Mason Gerald
Celente warning of the 3 rd world war in 2009 and the coming global
This guy has never
been wrong just like Alex Jones because he to has
Sun symbols of
freemasonry in his signs
as well and look at the freemason
outlets that expose his work.
these wicked Lucifer worshippers always let us know
what they are
about to do to us in advance.
Gerald Celente web site
header give him away as being a mason
Take note of the Eclipse
Apocalypto movie and the Sun worship.
The Sun symbol behind the Earth. The Earth being used as the new world
order symbol are all embedded into this guys header. See more about
Sun Worship here
Switzerland's biggest bank
UBS on Tuesday said it lost about
17 billion dollars
(13 billion euros) in 2008, the largest
full-year loss in Swiss corporate history,
as it announced that it would cut another 2,000 jobs.
The two largest
pension funds in California, the California Public Employees’
Retirement System (CalPERS) and the California State Teachers’
Retirement System (CalSTRS), have lost billions of dollars in value.
Hundreds of thousands of retiring state employees and teachers now
face the stark choice of accepting much reduced pension checks or
working past their retirement age.
California State Controller John Chiang announced on January 26 that
California’s bills exceed its tax revenues and credit line and that
the state is going to print its own money known as IOUs. The template
is already designed.
Instead of receiving
their state tax refunds in dollars, California residents will receive
Student aid and payments to disabled and needy will also come in the
form of IOUs. California is negotiating with banks to get them to
accept the IOUs as deposits.
California is often identified as the world’s eighth largest economy,
and it is broke.
Obama administration recognizes that it needs to keep the finger of
blame for the current economic collapse squarely pointed at the Bush
administration, which is certainly fair in large part (though the
Clinton deregulation of the banking industry played a major part in
the financial crisis and its enthusiastic promotion of globalization
began the massive shift of jobs overseas that has left the nation’s
productive capacity hollowed out). But it also seems to recognize that
it cannot tell the bitter truth, which is that our national economy
will never “bounce back” to where it was in 2007.
TAKE NOTE OF THE
ABOVE GRAPH I WAS SHOWN AND REALIZE THE ECONOMY WILL NEVER COME CLOSE
The Brussels elite
are pretending the question does not arise, but the financial world
knows the question is there, hanging over the entire European Union
economy: is the single European currency going to break apart?
This year will see a
major economic breakdown followed by worldwide riots, as
people who have lost everything rebel against the situation, where
those in power save themselves at the expense of everyone else.
Inc., Sprint Nextel Corp. and Home Depot Inc. led companies today
announcing at least 72,500 job cuts as sales withered and construction
slowed amid a global economic recession that may persist through 2009.
The biggest layoffs were at
Peoria, Illinois-based Caterpillar. The world’s largest maker of
construction equipment said it’s cutting 20,000 jobs after
fourth-quarter profit fell by almost a third.
Pfizer Inc., the New York-based
drugmaker that’s acquiring competitor Wyeth for $68 billion, said it
will close five factories and eliminate 19,000 jobs, or 15 percent, of
Be warned the
militaries of all western nations have been practicing for these riots
to happen here and all signs say it could happen soon.
conditions in Iceland
and other parts of the world continue to deteriorate as the effects of
the credit crisis affect the general economy.
rioting is also increasing in Eastern Europe. In particular,
has seen some extremely violent rioting. Rioting has also been seen in
There is a great deal of unrest in
China,... In particular, the
city of Guangdong, has seen large scale
The world economy is
deteriorating more quickly than leading economists predicted only
weeks ago, with Britain yesterday becoming the latest nation to
surprise analysts with the depth of its economic pain.
Brace yourself: Cities and
towns across the state expect to lay off thousands of employees. The
impact will be widespread and highly visible - shorter hours and
longer waits at town halls, larger class sizes, more potholes.
“Green Agenda” Officially Unveiled
President Barack Obama’s plan to
implement a cap-and-trade program that would cut carbon dioxide
emissions by 80 per cent and also sink an already battered U.S.
economy into a new great depression has officially been announced on
the White House.gov website.
Leading economist Nouriel
said today that
the U.S. banking system is "effectively insolvent".
Americans overwhelmingly think the government should stop providing
money to the banks.
All hopes of Gordon Brown
managing to save the world with October's great banking bail-out have
proved tragically misguided.
The Ł37billion injected into the banks last
autumn might have helped save the financial system from instant
meltdown. But its effects have proved at best temporary, and now the
money has disappeared without trace.
currently an idea to fix the financial system that’s getting quite a
bit of traction: an RTC-type program whereby the government would buy
$1 trillion of troubled assets from struggling U.S. banks, with the
goal of restoring them to health so they can begin lending again,
leading to an economic recovery.
The problem with this idea (let’s
call it “New RTC”) is that either the government will pay market
prices for the toxic assets – in which case, it will simply accelerate
the collapse of our financial system – or pay above-market prices, in
which case taxpayers will likely suffer big losses.
U.S. Stocks Slide in Dow
Average’s Worst Inauguration Day Drop - Jan 20 State Street
Corp., the largest
money manager for institutions, tumbled
59 percent after unrealized bond losses almost doubled.
Two weeks after closing its
purchase of Merrill Lynch at the urging of U.S. regulators, the
government cemented a deal at midnight Thursday to supply Bank of
America with a fresh $20 billion capital injection and absorb as much
as $98.2 billion in losses on toxic assets, according to people
involved in the transaction.
The second lifeline brings
the government's total stake in Bank of America to $45 billion and
makes it the bank's largest shareholder, with a stake of about 6
"They were probably one of the best banks out
there, balance sheet-wise, until they did the Merrill deal," said
Cassandra Toroian, chief investment officer at Bell Rock Capital in
Pennsylvania, which owns the bank's shares.
the champion of the "financial supermarket" model, is splitting into
two operating units
in what is known as a "good bank/bad bank" strategy.
shares have plunged 87 percent since the beginning of 2008, said it
recorded $28.3 billion of writedowns and credit losses in the 2008
fourth quarter. Losses over the past 15 months total more than $92
Bank of America
fell a whopping 18.43% today, hitting a new 52 week intraday low of
$7.35 on concerns it is not going to easily be able to digest the
merger with Merrill Lynch. I suggest Bank of America has easily bitten
off more than it can chew.
filing systems have crashed
in at least three states in recent days
amid an unprecedented crush of thousands
of newly jobless Americans seeking benefits, and other states were
adjusting their systems to avoid being next.
Total price tag so far:
$7.2 trillion in investment and loans. That puts a lot of taxpayer
money at risk. Now comes President-elect Barack Obama's economic
stimulus plan, some details of which were made public on Monday. The
tally is getting awfully close to $8
WORSENING ECONOMIC CRISIS has prompted the US Army War College to
issue a report urging the use of military troops to contain possible
civil unrest throughout America.
Entitled, Strategic Shocks in
Defense Strategy Development, issued on November 4, 2008, the report
argues that the US military must prepare
for a “violent domestic dislocation provoked by an
The report was authored by Nathan
Freier, an Army lieutenant-colonel and professor at the US War College
in Carlyle PA - the Army’s main training institute for prospective
senior officers. Freier consigns dissenting Americans to the category
of “hostile groups:”
“Civil unrest would force the
defense establishment to maintain domestic order. Under certain
circumstances this would include use of military force against hostile
groups inside the United States.”
As if access to credit
wasn't already tight, credit card companies are slashing consumer
credit lines and closing inactive cards - a move that could harm
borrowers' credit scores and restrict access to loans. "Card issuers
are playing defense, "trying to limit their risks in "the poor
economic climate and against the prospect of continued consumer
defaults," said Greg McBride, senior financial analyst at Bankrate.com.
But the lenders' actions could bring more worries for consumers.
assumption that US assets - particularly government bonds - are a safe
haven will soon be overturned as investors lose their patience with
the world's biggest economy, according to Willem Buiter.
suspending production at all 12 of its Japan plants for 11 days over
February and March, a stoppage of unprecedented scale for the nation's
top automaker as it grapples with shrinking global demand.
At the docks
here, the stacks of shipping containers that used to loom above the
highway overpass are gone. Logistics managers say they negotiate
deeper discounts every week on ships that are leaving half empty.
In nearby Guangdong Province, so
many factories are closing without paying employees that some workers
are resigning pre-emptively and demanding immediate pay before their
employers go bankrupt.
For those of you
who don't know, consumer spending makes up roughly 70 pct of the US
economy, yet many consumers have been pulling back due to job
insecurities, declining credit lines, falling wealth effect (caused by
falling home values/cratering retirement plans) and overall general
unease about the future. The end result of this pull back:
Significantly declining retail sales - leading to numerous store
bankruptcies and closings.
At one time or
another we have all heard it said that "you cannot get there from
here". Much the same can be said of the current state of the US
economy. Every prominent economic pundit is focusing on falling demand
as the economy's nemesis. Nouriel Roubini points out that "85 percent
of aggregate demand consumption and fixed investment is now in free
fall". It's even worse than that because final demand as it is
calculated does not include inter-business spending (spending between
the stages of production).
The economy is on
the brink of an absolute catastrophe.
I’ve been saying for six or seven months now that we’re in 1931. In
1931, a recession that started with the Crash of 1929 tipped into a
fifteen-year depression. We are on the precipice of that. If we are
very lucky and if we do everything very right from now, we will
probably have a two- or three-year very bad recession. If we’re not
very lucky or if we don’t do everything right, we could easily have a
ten- or fifteen-year depression, a repeat of the 1930s.
In the United States, the
danger of debt insolvency is growing, putting at risk the currency
reserves of foreign countries, China chief among them. According to
new figures published by Bloomberg in recent days (Nov. 25, 2008 ),
the American government has employed a total of 8.549 trillion dollars
to stop the financial crisis. This means a total of about 24-25.4
trillion dollars of direct or indirect public debt weighing on
The report by the
War College's Strategic Institute, said that a defense community
paralyzed by conventional thinking could be unprepared to help the
United States cope with a series of unexpected crises that would rival
the Al Qaida strikes in 2001, termed a "strategic shock."
The head of the
International Monetary Fund has warned that advanced nations will be
hit by violent civil unrest if the elite continue to restructure the
economy around their own interests while looting the taxpayer.
It seems each new piece of
data lately prompts another round of downward revisions to economists’
estimates of fourth-quarter gross domestic product.
The latest? Take this morning’s report on
international trade, which showed the U.S. trade deficit unexpectedly
widening to $57.2 billion in November from $56.6 billion the previous
month mostly because exports of goods and services were even weaker
than expected, while imports showed a more moderate drop (skewed
partly by lower petroleum prices).
Dozens of millions of newly
retired “baby-boomers” are beginning to call upon payback from these
[pension] funds. According to our team, it is likely that,
by the end of 2008,
this crisis will be the dominant aspect of the current global
financial crisis. It will also provoke a social crisis affecting
pensioners, in particular in the US (45 percent of pension funds’
total assets in the world), in Japan (18 percent) and in various
European countries depending heavily on capital-based pension systems
demand will collapse next year and commodities will not return to the
highs they reached this summer in the foreseeable future, two
authoritative reports said on Tuesday as they forecast a
long and painful worldwide recession.
The stark conclusions came as the
World Bank’s chief economist predicted that the world faced “the worst
recession since the Great Depression”.
The US energy department said
global oil demand will fall this year and next, marking the first two
consecutive years’ decline in 30 years.
The slump in US
clothing sales since the summer has led to a precipitous drop in the
number of overseas factories shipping to the US, import documents
Panjiva, a firm that analyses information drawn from shipping
manifests filed with US Customs, said the number of global suppliers
actively serving the US market fell from 22,099 in July to just 6,262
in October, a decline of more than 70 per cent.
lawmakers just got a Henry Paulson-like ultimatum from state
officials: If they don't act, the state could be forced to suspend
road, bridge, and other public-works projects as early as next week.
Come March, California will be out of cash for even day-to-day
Rio Tinto Group,
one of the world's largest miners, will cut 14,000 jobs worldwide and
reduce capital investment as part of new measures to reduce its debt
amid waning demand for iron ore and other metals, the company said
The purpose of the
current financial catastrophe was to infect the entire world financial
system with toxic waste and other unregulated derivatives, also known
as financial weapons of mass destruction, to bring it crashing down so
that a single world financial system with a single medium of exchange
could be set forth as the suggested solution and then crammed down our
throats in yet another nauseating and tiresome iteration of the
Corp. and Chrysler LLC executives are considering accepting a
pre-arranged bankruptcy as the last-resort price of getting a
multibillion-dollar government bailout, said a person familiar with
their internal discussions.
today of a deal reached between the U.S. Treasury and the moribund
insurance giant, A.I.G. provides a very lucid insight in to the
nefarious and destructive world of the Troubled Asset Relief Program,
otherwise known as T.A.R.P..Not only have A.I.G. received $152 billion
to date and subsequently reported a third quarter loss of $25 billion,
now they are to be cleared of their obligation on $53 billion worth of
toxic credit default swaps. U.S. taxpayers are now on the hook for
already set in and it's now realistic to start talking about another
"D" word, this one being depression. Before we can use a word, we must
define it. For the sake of argument, let's define depression as
unemployment of 10% or greater.
"Capesize Vessels" weigh
from 175,000 tons to 400,000 tons and count as some of the largest
craft in the World. They typically carry raw materials such as Iron
ore, Steel, Coal and other raw commodities. Where you used to pay up
to $230,000 per day to rent one, now you can have one for a measly
$2800 per day. Lloyds even reported yesterday that one Capesize vessel
was going for $1000 per day.
"Fed unveils $800
billion plan to bolster lending, housing"
This headline adorns the front pages of newspapers this evening. Is it
just me or is the Fed getting these plans from cereal boxes at the
White House breakfast ? Two or three pieces of cardboard and plastic
for Henry and team to assemble in to something before another
gruelling day of getting rid of all the money before the other guy
takes office in January.
The Federal Deposit
Insurance Corp. reported Tuesday that the number of firms on its
so-called problem bank list grew to 117 during the second quarter -
its highest level since the middle of 2003. There were 90 banks on the
problem list in the first quarter.
cost of funds committed to the bailout in its various guises has now
hit $8.5 trillion dollars, up from $7.7 trillion in just two days
after the federal government committed an additional $800 billion to
two new loan programs on Tuesday.
The total amount of funds now
committed equals a figure that represents 60 per cent of the U.S.
gross domestic product.
Riots and protests in
Reykjavik calling for the government of Iceland to resign have
increased following a financial catastrophe that has wiped out half of
the krona’s value and put one third of the population at risk of
losing their homes and life savings. Could similar scenes of civil
unrest be repeated in the United States as the economy continues to
embattled financial giant, is taking out advertisements in major US
newspapers today in an attempt to shore up customer confidence after a
downward spiral in its share price raised doubts about its future.
Yesterday was a historic
day for the market. The Standard & Poor’s 500 Index plunged by 6.7% to
bear market low of October 2002 was 768.63 — and we sliced through it
like a hot knife through butter.
all accounts the US faces its worse economic crisis since the Great
Depression with $2 trillion in near-term financing needs for bailouts
and economic stimulus. This is an enormous sum for any country,
especially for one that is so heavily indebted that it is close to
bankruptcy. If the money can’t be borrowed abroad, it will have to be
printed–a policy that carries the implication of hyper-inflation.
In normal life a borrower who must
appeal to creditors makes every effort to bring order to his financial
affairs. But not the Bush regime.
Deleveraging, deflation and
depression are feeding one another in a potentially vicious manner.
With banks facing strain again, governments must rapidly complete
existing recapitalisation plans and probably take further steps to
prevent excessive belt-tightening.
Despite an increasingly
uncertain economy, thousands of homebuyers around San Francisco Bay
kept snatching up foreclosed homes last month, dragging down the
median home price by 41 percent from a year ago, a real estate
tracking firm said Thursday.
The financial crisis is
deepening, with the risk of seriously disrupting the system of
This crisis is far more serious than the Great
Depression. All major sectors of the global economy are affected.
Recent reports suggest that the system of Letters of Credit as well as
international shipping, which constitute the lifeline of the
international trading system, are potentially in jeopardy.
The proposed bank "bailout" under the so-called
Troubled Asset Relief Program (TARP) is not a "solution" to the crisis
but the "cause" of further collapse.
Investors have spent the
last few weeks bemoaning the devastation to their portfolios caused by
the stock market downturn, which if it does not produce recovery by
year-end will have made 2008 the worst stock market year since 1937.
Their misery would be compounded if they knew that next year, while it
may avoid more than moderate stock market mayhem, is likely to produce
the worst bond market carnage in US history.
House prices across the UK
have already fallen far further than official data and market
indicators suggest, Rightmove, the online estate agent warned
yesterday, as it revealed that up to 300 estate agents were quitting
its service every month.
consumers who bought everything from homes to groceries on borrowed
money are running out of credit, and paying the bills will cost the
world's biggest economy and its trading partners dearly.
This comes out as Bloomberg L.P.
has filed a lawsuit to force the Federal Reserve to provide more
information about which companies are receiving money and what assets
have been pledged to get the money. Although the bailout was initially
approved amid claims that there would be total transparency, the
reality has fallen far short of that.
Major indexes have lost
about 10 percent since Barack Obama was elected president - a vote
preceded by a steep rally -- and the losses represent the Dow's worst
two-day percentage decline since the October 1987 crash.
The situation now
is that for those shipping companies that can actually get letters of
credit are now slowing down their ships to reduce fuel consumption,
slashing crew numbers and leaving some of their tonnage in dock with
the lights out.
The problem with letters of credit, which are needed before a vessel
leaves harbour, is that demands between banks are being denied as
banks are not trusting each other.
fundamentals today are much worse, so that we are in for a protracted
period of economic depression – a depression much worse than the Great
Depression, a depression that would likely be remembered in history as
“The Second Great Depression” or The Greater Depression, as Doug Casey
has called it so aptly.
as a direct result of lower interest rates which reduce the cost of
borrowing money, are now quite happy to balance the scales of Risk and
investment cost. "Safe havens" are now seen as too safe and not able
to generate the giant profits that they are running after. But in
their quest for profit, they are about to restart the game which blew
up in their faces quite recently.
Exxon Mobil Corp., the
world's largest publicly traded oil company, reported income Thursday
that shattered its own record for the biggest profit from operations
by a U.S. corporation, earning $14.83
billion in the third quarter.
administration has prompted a huge surge in the U.S. dollar, which may
help refinance its financial sector. The cost is a currency whirlwind
that threatens the collapse not just of banks and companies but entire
In the past week the financial
crisis, which began in banking and spread to stocks, has careered into
the currency markets. The U.S. actively decided back in September 2008
to shut down the investment banks that lend to the biggest
professional investors. This has caused those investors to sell
anything and everything and to settle their trades.
“If it turns out
that they are hoarding, you’ll have a revolution on your hands. People
will be so livid and furious that their tax money is going to line
their pockets instead of doing the right thing. There will be hell to
pay,” Dodd told the New York Times this weekend.
261,255 homeowners received at least one foreclosure-related filing in
May, up 48 percent from the same month last year, and up 7 percent
from April" Realtytrac.com.
The figures above reflect a truly
miserable situation in the everyday life of Americans. Before the
property is actually foreclosed upon, the utilities would probably
been off for 3 months or so. No light, no heat no water.This is the
reality that the Fed is ignoring as it hands out money hands over fist
to the very organisations that caused this untenable situation.
Insiders were warning that
some ten hedge funds were ready to collapse, with the resulting
liquidations likely to force the markets down even further. But
today's rally pulls those hedge funds back from the brink, and nobody
can really explain why it happened.
The federal reserve caused
the 700 billion dollar bailout. Share this video with everyone you
know. The Rothschilds and the Bank of England, and the London banking
houses which ultimately control the Federal Reserve Banks through
their stockholdings of bank stock and their subsidiary firms in New
York. The two principal Rothschild representatives in New York, J. P.
Morgan Co., and Kuhn,Loeb & Co. were the firms which set up the Jekyll
Island Conference The Federal Reserve was created with no
constitutional authority in 1913, the Fed prints money out of thin air
and loans it to the U.S.
Financiers enjoying a
respite from the panic of the past few weeks should brace themselves
for further mayhem tomorrow,
the deadline for insurers of Lehman Brothers' debt to
pay up on billions of dollars of policies.
WASHINGTON - When
President Bush hosts a world financial summit in the coming weeks, one
of the least multilateral American presidents in decades will set in
motion what could result in a full reordering of the global financial
The series of summits that Mr. Bush announced over the weekend at Camp
David with European leaders at his side suggests a broad understanding
among them: that the current crisis requires the kind of global
regulatory reforms that have eluded major powers in the past.
Current emergency meetings
on banks and markets are still only in the stage where politicians and
central bankers are bickering over how to create a few more hundred
billions Euros and FRNs. But toxic MBS pale in comparison to the
mushrooming growth of the derivatives market. According to figures
released in the quarterly review of the BIS (pp A103) in September the
total notional amount of outstanding derivatives in all categories
rose 15% to a mindboggling $596 TRILLION as of December 2007.
NEW YORK (Reuters) -
Financial institutions ran to their lender of last resort for record
amounts of cash in the latest week, under extreme pressure from the
worst global financial crisis in a generation, Federal Reserve data
showed on Thursday.
Banks and dealers' overall direct borrowings from
the Fed averaged a record $437.53 billion per day in the week ended
October 15, topping the previous week's $420.16 billion per day.
Some analysts are concerned that banks'
dependence on Fed lending might become long term and difficult to
Ask your self how
much money does the Federal reserve have to keep lending at this rate
and if they said no
implosion on a global scale.
Create the crisis
then offer the One World currency solution.
The Fed's report,
released Thursday, shows commercial banks averaged a record $99.7
billion in daily borrowing over the
The old record — a daily average of $75 billion — was from the prior
week. On Wednesday alone, $101.9 billion was drawn, an all-time high.
to CNBC that its flagship Kensington and Wellington funds, which hold
around $15 billion in assets, are down between 26 percent and 30
percent so far this year. But Chicago-based Citadel denied rumors that
it's having difficulty meeting margin calls and is facing mass
redemptions. The firm also denied that it's unwinding any positions.
Nouriel Roubini explains in bullet-point form how hedge funds are
driving the stock market collapse. Take careful note of how credit
default swaps are a key factor in the stock market sell-off, and how
another type of derivative - "collateralized fund obligations" - may
be the next shoe to drop
Most of the gains came in a
rocket surge in the last two hours. You would think champagne corks
would be popping around the country. And yet I have not heard one
analyst say they trust it. In fact many are advising clients to use it
as a chance to sell and reduce their risk exposure.
In statements before Wall
Street opened Tuesday, Oct. 14, President George W. Bush and treasury
secretary Henry Paulson explained that the Federal Reserve’s $250
buyout of stakes in US banks was a short term measure to alleviate the
Nothing new under the Sun.
What has happened will happen again . Watch for the nuclear attack on
Iran and Syria to land on days similar to the last Black Monday's
crash. Remember Bush is about to place the world economy into a
catastrophic state which has no room for a nuclear attack on Iran.
Lift up you head when you see these things begin to come to pass. All
is in place but the global famine getting into high gear would leave
us with the Russian sneak attack with Iran and China while they are
saying Peace and Safety possibly the next day at noon. It comes as a
snare upon this World at a time we think not. God only knows for
sure how this unfolds but one thing we do know for is you need to
start preparing for the three years after the Nuclear disaster =
Famine. Start buying Brown Rice and begin to store food. Here is
a great place to get storable food for a reasonable price.
You need to research Black Monday's stock market
crash In 1920 and 1987. They were both in
A majority of people now
know Al Qaeda was created by the C.I.A. to fight Russia and now is
commonly called C.I. Al Qaeda. When we see news that says Al Qaeda
Warning of an October Surprise it means the C.I.A. is planning an
election shifting event. Don't take my word for it read this online
encyclopaedia link to the proof =
Just before the,
(By design) Monday October 19
1987 crash, we saw the U.S.
Scripture warns we
will hear rumours one year = 2007 and then another = 2008
And lest your heart faint, and ye fear for the
rumour that shall
be heard in the land; a rumour
shall both come one year,
and after that in another year shall come
and violence in the land, ruler against ruler.
before the crash, millions brood over
what is perceived to be a
worsening economic picture and
become increasingly concerned about tensions in the Middle East. With
the risk-free yield on a 30-year bond at 10.12%, only a hair below the
long-term annual return from the stock market of 10.60%, many must be
wondering why they are in stocks at all. Government officials decry
bond yields as "needlessly high" and based on "exaggerated
JESUS WARNED US
NOT TO FEAR AS
SATAN CONTROLS YOU LIKE A PUPPET WHEN YOU FEAR.
REMEMBER THAT PETER
FEARED AND THEN DENIED JESUS THRICE. GOD'S CHILDREN WILL BE LIVING BY
HE COMES AND HE IS ABOUT TO COME. THE WISE VIRGINS PREPARED FOR THE
FAMINE TO COME.
In the early
morning, two U.S. warships
shell an Iranian
oil platform in the Persian Gulf.
Combined with a myriad of economic factors, this helps to set off an
unprecedented 508 point downpour in the Dow Jones Industrial Average
Why This Financial Bailout Isn't Like the S&L Rescue and
be as Successful
designed to fail.
Foreign banks may get help from US taxpayers
U.S. Bailout Plan Calms Markets, But Struggle Looms Over Details
offered to Congress also gives the Treasury legal immunity from any
lawsuits. "Decisions by the secretary pursuant to the authority are
non-reviewable … and may not be reviewed by any court of law or any
administrative agency," the proposal says.
The [bailout] proposal is ``a clear abdication of all oversight
and fiscal authorities to a Secretary of Treasury that has bungled
this crisis from the beginning,'' said Joshua Rosner, an analyst at
the independent research firm Graham Fisher & Co. in New York. ``This
is Marxism. And I mean Groucho not Karl.''
John Bogle, who created the $106 billion Vanguard 500 Index Fund in
``We're playing a game of
interfering with the way the market is working. The government seems
punch drunk. It doesn't seem systematic.''
Federal Reserve historian Allan Meltzer said U.S. government
efforts to cleanse
financial institutions of troubled loans shouldn't be
financed by taxpayers.
people are furious that we're in this situation, and so am I," the
House's top Republican, Ohio Rep. John A. Boehner, said in a
statement. "We need to do everything possible to protect the taxpayers
from the consequences of a broken Washington."
Leader Harry Reid, D-Nev. said "we cannot allow ourselves to be in
denial about the threat now facing the world economy. From all
indications, that threat is real, and the consequences of inaction
could be catastrophic. Every single American has a stake in preventing
a global financial meltdown."
Brothers, the fourth biggest American investment bank, filed for
bankruptcy early Monday, leaving 30,000 jobless worldwide and $600bn
in debt on what some called the most catastrophic day in a century for
global financial markets.
The European Central Bank
injected 30 billion to steady the markets, followed by the Bank of
England, which earmarked 5 billion sterling to arrest the City’s
Lehman Brothers crashed after
Barclays and the Bank of America withdrew their bids to rescue the
158-year old banking institution and the federal government refused a
The Bank of America bought out
the limping Merrill Lynch for app. $50 bn, but the American
International Group Inc. (AIG), once the world's largest insurer, is
struggling to survive.
Ten US and foreign banks set up a
$70bn fund to save troubled companies.
The collapse of the three biggest
names on Wall Street threatens to wipe out many billions of dollars
from pension funds and the banking and insurance industries in a
worldwide chain reaction of turbulence.
Tel Aviv fell sharply with other
world markets as The US government and Federal Reserve failed to in
their efforts to bring the financial landslide under control over the
weekend in time for Monday’s trading. Some firms linked to the failing
banks may be rescued while others will have no option but to file for
bankruptcy. Lehman Brothers’ UK business Pricewaterhouscoopers has
been placed into administration.
Meanwhile, Pimco's Bill
Gross said overnight that a Lehman Brother's bankruptcy risks an "immediate
tsunami" because of the unwinding of
derivative and credit swap-related positions worldwide.
Talks to sell Lehman faltered Sunday, triggering
concerns that the investment bank may be heading into bankruptcy and
prompting banks to call an emergency trading session to unwind
positions with the firm.
"It appears that Lehman will file for bankruptcy
and the risk of an immediate tsunami is related to the unwind of
derivative and swap-related positions worldwide in the dealer, hedge
fund, and buyside universe," Gross, the chief investment officer of
Pacific Investment Management Co (Pimco), told Reuters.
World Bank Vice President, Chief Economist and Nobel Prize winner
Joseph Stiglitz has predicted a global economic crash within 24 months
unless the current downturn is successfully managed. Asked if the
situation was being properly handled Stiglitz emphatically responded
"no," and also drew ominous parallels to the development of the NAFTA
Superhighway and the North American Union.
Stiglitz caused controversy in October 2001 when he exposed rampant
corruption within the IMF and blew the whistle on their nefarious
methods of inducing
countries to fall under their debt before stripping them of
sovereignty and hollowing out their economies.
Speaking on the nationally
syndicated Alex Jones radio show, Stiglitz defined the process of
globalization as a system that was "rigged against the poor countries,
rigged for the advanced industrial countries - the result of that is
there were an awful lot of losers."
The Columbia University
Professor described how rampant privatization has crippled Mexico, in
particular citing the sell-off of major infrastructure such as roads.
"They sold the roads to the
private enterprise and the hope was that they would be more efficient
but of course what happens is that they didn't maintain the roads,
they couldn't generate enough revenue and they eventually had to
default and give the roads back to the government."
Stiglitz agreed that the
process of hijacking and looting key infrastructure on the part of the
IMF and World Bank, as an offshoot of predatory globalization, had now
moved from the third world to Europe, the United States and Canada.
These sentiments are
especially disturbing when we consider the current fast-moving
quasi-secret agenda to sell-off major American highways to foreign
corporations who plan to turn them into toll roads for tracking and
taxation purposes collectively known as the NAFTA Superhighway.
The program forms the
framework for the advancement of the North American Union
a collective governmental, border and trading bloc that President Bush
has signed the U.S. over to under the Security and Prosperity
Partnership of March 2005.
As we previously reported,
US citizens will be forced to adopt a de-facto national identification
card and have their freedom of mobility defined by behavioral fealty
to the government under proposals set to derive from NAFTA
superhighway toll road systems and the implementation of the American
"This is a movement that's
gone on all over the world," said Stiglitz, "the movement of trying to
turn over basic facilities - water, roads, to the private sector."
A newly published
paper by a
researcher for the Federal Reserve Bank of St. Louis warns that a
ballooning budget deficit and pension and welfare timebomb is growing
into a $65.9 trillion fiscal gap that will force the United States
"The U.S. government is, indeed,
bankrupt," he writes, "insofar as it will be unable to pay its
creditors, who, in this context, are current and future generations to
whom it has explicitly or implicitly promised future net payments of
While the U.S. budget deficit,
currently forecast to be 2.3 percent of the gross domestic product
this year, is smaller than that of most European states, Kotlikoff
argues the much debated number is not a particularly useful measure of
U.S. economic health.
"The proper way to consider a
country's solvency is to examine the lifetime fiscal burdens facing
current and future generations. If these burdens exceed the resources
of those generations, get close to doing so, or simply get so high as
to preclude their full collection, the country's policy will be
unsustainable and can constitute or lead to national bankruptcy."
America’s richest billionaires, Richard Rainwater, warns in a major
Fortune magazine piece that an "economic
tsunami” is about to strike the global economy.
Rainwater believes the main
worry for the U.S. economy is that the world is running out of oil.
Rainwater is so worried about
dwindling oil supplies in the near future that he now has some $500
million of his $2.5 billion fortune in cash – and he advises that the
time is coming to invest in oil and gas companies to take advantage of
the looming crisis.
PREDICTS WORLD ECONOMIC DISASTER
DEC 28 2004
Recently Buffett spoke with Forbes, who described
him as full of “doom and gloom” for the dollar.
For one thing Buffett fears the $10 trillion of
the U.S. economy owned by foreigners.
As they continue to exit the dollar, it could
wreak havoc. “If lots of people try to leave the market, we’ll have
chaos because they won’t get through the door,” Buffett told Forbes.
Buffett believes that a dollar fall off “could
cause major disruptions in financial markets.”
21 Jan 2006 "In its attempt to establish a world empire dominating
every nation on the planet, the U.S. has exhausted its ability to
finance the expansion and the country now faces imminent financial
collapse... Bank of America and Compass Bank managers (probably all
other U.S. banks too) have been instructing their employees in the
last few weeks on how to respond to customer demands in the event of a
collapse of the U.S. economy - specifically telling the employees that
only agents from the Department of Homeland Security will have
authority to decide what belongings customers may have from their safe
deposit boxes - and that precious metals and other valuables will not
be released to U.S. citizens."