Financial Crisis

[Chaimai]

Obama's problem is that he does not listen to the advice of the resident TV wise advisers. i'm sure he'll regret that sooner or later.

[AlexLah]

Have not been posting a picture for a while so decided to pick up again.

But what does it mean?

Aaaagh, I know this one:-

THE ONLY WAY IS UP

correct ?

Nooooooooooooooooooooooooooooooooooooooooooooooooooooo!!!!!!!

Try again, I think it is very clear, let me give some hint.

Disney land, hot air, stock market.

[Jake1]

PS: 5 more banks today

did you lose some of your money... ahmmm i mean of course some of your gold because of that?

Via taxes and inflation the deposits need to given back to the owners somehow. So yes, we are paying for it.

perhaps you do, i don't

The U.S Exports inflation and the world picks up the tab.

[flying]

How about injecting another 180 Billion to the too big to fail?

http://www.dailyfinance.com/2009/07/31/aft...-verge-of-colla

Thanks that is actually one hel_l of an article.

[Naam]

How about injecting another 180 Billion to the too big to fail?

http://www.dailyfinance.com/2009/07/31/aft...-verge-of-colla

Thanks that is actually one hel_l of an article.

...and until today it was a héll of a ride perhaps time to cash in? yield still >20%

[flying]

...and until today it was a héll of a ride perhaps time to cash in? yield still >20%

Kor Tort Kup Kuhn Naam

If your bored or have extra time take a look at this.

http://www.cash.ch/video/start.php?firstProjectID=11716

I would like to know just out of curiosity.....

Does Mr. Faber speak more directly in Swiss German

compared to his English interviews? Is he more bearish towards the US future when doing interviews back home?

Just curious & understand if you do not have the time.

Edited August 3, 2009 by flying

[jcon]

Obama's problem is that he does not listen to the advice of the resident TV wise advisers. i'm sure he'll regret that sooner or later.

hahaha Naam is getting better in his delivery. Usual Naam would have just written the first sentence... the second one was the kicker! See, TV does have benefits And to stay on topic, I'd just like to express a concern that since I've seen A LOT of "stock market" or "where to invest my money" threads, I'm going to take that as an indication of sorts.... Confirmation will be had when Naam's dog says, "How bout that Hang Seng, ja?"

[Naam]

Confirmation will be had when Naam's dog says, "How bout that Hang Seng, ja?"

it's plural now. got a second dog. reason: to get a more balanced view whenever i make an investment decision. but Hang Seng or any stock market no can do! for me the one and only [up to a certain degree] calculable investment is BONDS

Edited August 3, 2009 by Naam

[Naam]

...and until today it was a héll of a ride perhaps time to cash in? yield still >20%

Kor Tort Kup Kuhn Naam

If your bored or have extra time take a look at this.

http://www.cash.ch/video/start.php?firstProjectID=11716

I would like to know just out of curiosity.....

Does Mr. Faber speak more directly in Swiss German

compared to his English interviews? Is he more bearish towards the US future when doing interviews back home?

Just curious & understand if you do not have the time.

presently my speed is too slow Flying. just getting speech fragments. i am downloading the whole interview (now 45mb=50%), will listen to it later and then report back.

[flying]

presently my speed is too slow Flying. just getting speech fragments. i am downloading the whole interview (now 45mb=50%), will listen to it later and then report back.

Krup Pom

[midas]

How about injecting another 180 Billion to the too big to fail?

http://www.dailyfinance.com/2009/07/31/aft...-verge-of-colla

its just so comforting to know Obama has an insurance czar who can take are of things

Obama's problem is that he does not listen to the advice of the resident TV wise advisers. i'm sure he'll regret that sooner or later.

Obama doesnt listen to any advisers..........unless his " bosses " say he can

[Naam]

presently my speed is too slow Flying. just getting speech fragments. i am downloading the whole interview (now 45mb=50%), will listen to it later and then report back.

Krup Pom

downloaded everything. tried to start. message: "you need quicktime player! you no have? download here." i click "download freaking quicky". him say "server very busy. try again?" i try again. him say again "canNOT". i pissed off very much and cannot even find downloaded file

[Naam]

How about injecting another 180 Billion to the too big to fail?

its just so comforting to know Obama has an insurance czar who can take are of things

Obama's problem is that he does not listen to the advice of the resident TV wise advisers. i'm sure he'll regret that sooner or later.

Obama doesnt listen to any advisers..........unless his "bosses" say he can

when you are right Midas then you are right! i don't disagree. the puppetmasters, sharks and octopusses in the background have pulled the strings since more than a century, are pulling the strings nowadays and will pull the strings in future. the only way to cut not only their tentacles but rip out their teeth is cutting them down to an appropriate size is a military coup, something unthinkable (except Hollywood) in the Greatest Nation on Earth™.

we dwarfs have nothing in our hands to fight the giant and mighty puppetmasters. what is left for us is howling with the wolves, try to catch the crumbs which fall from the tables when the giants stuff themselves and either grind our teeth to compensate our frustration or be humble and satisfied with what we achieve

[AlexLah]

Try here Naam, it might be a bit faster: http://download.cnet.com/Apple-QuickTime/3...4-10002208.html

You can also try quicktime converter: http://download.cnet.com/QuickTime-Convert...4-10537263.html (just 8MB)

Go here for instructions how to convert plus link to converter progg: http://www.jakeludington.com/ask_jake/2005...mov_to_avi.html

Most likely the clip has a .mov extension and you cannot find is as the .mov icon is not showing on your puter as you do not have QT installed.

[teletiger]

Strike one! 'And another one slaps into the catchers gloves.

Naam has taught his dogs to type. He's taught them to snigger too.

Regards.

[AlexLah]

Naam, I am surprised you don't have a froggin fiber cable directly hooked on to some main gateway. <deleted>, you need speed man, get your terminals updated every second. We talk about milli seconds trading, get yur stuff fixed.

Jcon, what the heck is going on in yur place? Do you see them beggars on da streets or are they deported aready? We need live reports!

[flying]

downloaded everything. tried to start. message: "you need quicktime player! you no have? download here." i click "download freaking quicky". him say "server very busy. try again?" i try again. him say again "canNOT". i pissed off very much and cannot even find downloaded file

Mai Bpen Rai

Thanks for the try anyway.

Yes I just watch it on that website but of course the language is beyond me. I just get the feeling it is like a different Marc in this one.

Then again in any English interview he does I always get the feeling he is trying to be polite. He looks like the cat with the canary in his mouth

[Jake1]

Has anyone ever met Marc up in Chiang Mai? I'd buy him a few beers to have some words with him.

TV Financial Crisis meet up in Chiang Mai with a guest appearance by Mr Faber? I'd make the trip

[AlexLah]

There is a forum end of this month with some very famous economist, did ya sign up?

[Jake1]

There is a forum end of this month with some very famous economist, did ya sign up?

Nope..anymore info? Are they all Keynesians or do they understand basic economics?

[Abrak]

Has anyone ever met Marc up in Chiang Mai? I'd buy him a few beers to have some words with him.

TV Financial Crisis meet up in Chiang Mai with a guest appearance by Mr Faber? I'd make the trip

I have met MF on a number of occasions a few years ago and we now exchange emails fairly often.

I know he lives in CM but his emails always come with an HK address at the bottom. I did ask him once why he called himself 'we' when referring to the US and he was born Swiss, spent most of his time in HK and now lives in Chiang Mai but he didnt give a sensible answer.

[jcon]

I have met MF on a number of occasions a few years ago and we now exchange emails fairly often.

When are you two going to take the next step? I love hearing internet love success stories.... Keep us updated.

we dwarfs have nothing in our hands to fight the giant and mighty puppetmasters. what is left for us is howling with the wolves, try to catch the crumbs which fall from the tables when the giants stuff themselves and either grind our teeth to compensate our frustration or be humble and satisfied with what we achieve

NOOOOOOO Naam!!!!! Shock Horror!!!!!!!

Jcon, what the heck is going on in yur place? Do you see them beggars on da streets or are they deported aready? We need live reports!

I was going to comment when Naam asked the question of the Apocalyptic Riders (something along the lines of, "What good does it do to bitch on this forum?" - my edit for brevity, sorry Naam). I've also wondered the same thing, and while I know some of you 'seek the truth,' I must say it comes across as childish and pointless after 100+ pages, and in case you were hiding behind your keyboard since March we've had a monster rally in which a monkey could have made AT LEAST 40% just buying whatever monkey likey.

But hey, if I know you guys, you can counter with some argument like, "Jcon, we aren't in it for the money like you, we want to get to the bottom of this global conspiracy." To that, I say good luck - but maybe you could be more effective with some money in your pocket, you could even *gasp* start up a website and an *gasp* underground movement with the proceeds you made from the *gasp* markets - then in the end you could *gasp* say, "See, you conspirators, we took you down with your own money!" But you won't. Fine by me. Just stick to the status quo then and bitch on ThaiVisa - yeah, that'll stick it to 'em. I'm sure the Bilergergersbergs have "ThaiVisa's Financial Crisis thread" bookmarked. Sick 'em, teletiger! Grrr!!!!

Back to your question, Plarex. Despite that *sob* incredibly touching photo essay about poverty in Detroit, wait - I need a moment... *sob* - and yes, oh so touching - it's really incredible isn't it how you can get photos of impoverished people if you - wait for this one - LOOK FOR IMPOVERISHED PEOPLE -Wow - Genius - I must say that the USA is still kicking ass and taking names as usual. Americans are resilient, and I gotta say I like this country (whoa I'm feelin' patriotic today). I think I'm the only one contributing to this thread who is currently IN America, yes? The rest are throwing stones from halfway around the world... so as far as I can see, no beggars (no more than the usual), no mass deportation, no mass shock horror of any sort - it's probably something like when your relatives ask you *omg Thailand must be so dangerous, I heard ON TELEVISION that there are tanks in the road, are you ok?????" and you think to yourself "it's just what it is, you'd have to be here to know what I'm talking about." Well that, my friends, is what it's like here, IN America...

So for every *sob* photo essay on the poor, one can make a photo essay of the *gasp* rich. And for every this, there inevitably be a 'that.' Yin/Yang. Good/Evil. Spin one way/Spin the other way. Action/Reaction. Bull/Bear. Doom/Paradise. Call it what you will, but the truth is always probably somewhere in between. Such a simple concept, yet so hard-to-grasp for so many people...

Go ahead, cry foul because I'm not on the streets begging and out of a job and thus 'cannot see the reality.' Better yet, ask another forum member who just moved to that American city known as The Center of The Known Universe - she'd give you a better idea of what's going on here - but I assure you, she'd probably say something similar - aka "Get over it".

[Naam]

Naam, I am surprised you don't have a froggin fiber cable directly hooked on to some main gateway. <deleted>, you need speed man, get your terminals updated every second. We talk about milli seconds trading, get yur stuff fixed.

i am trying Alex but no success until now. by the way, the stuff i trade does not require milliseconds. instead it takes hours of hard work reading through freaking 284 (or so) pages of bond descriptions in which each sentence was composed by the concerted action of a dozen lawyers. then it takes another couple of hours, a glass (or two) of good wine, a dozen puffs on a Habana, asking the dogs "waddaya think you little bastards?" and last not least catching the Mrs when she is neither shopping nor dwelling in her bathroom and ask her "use your female intuition, shoot from the hip and tell me whether i should buy or not."

p.s. if the Mrs does not answer with a clear "yes" or "no" and tries to make unnecessary small talk by asking "which one?" i tell her "you talk too much! stick to the facts!"

[flying]

After $182 billion taxpayer rescue, is AIG on the verge of collapse?

You may remember American International Group (AIG). The U.S. government gave it $182 billion of taxpayer money last fall in exchange for a 78 percent stake. Of that money, $165 million went for bonuses to a handful of people in its Financial Products Group (FPG), which sold Credit Default Swaps (CDSs) on which AIG lacked the capital to make good. And $200 million more is slated for those good folks in 2009.

Another $12.9 billion of our taxpayer money went to Goldman Sachs Group (GS) so AIG could pay Goldman 100 cents on the dollar for its CDSs. Hank Paulson wanted to keep the names of Goldman and the other recipients secret -- since so many of them were foreign banks, but the information leaked out in March 2009 after Paulson left office.

Now, thanks to some solid reporting in The New York Times, 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 insurance companies.

Thanks to AIG's regulatory arbitrage -- taking advantage of the fact that its 19 state insurance regulators never conduct examinations at the same time -- AIG may have been able to shift assets among the companies to fool state regulators. If one its companies did not have enough money set aside as reserves against future claims, AIG could move assets to that reserve-deficient company right before the state insurance examiner moved in. And once that examiner was gone, AIG could in theory shift the extra cash to the next reserves-deficient company.

Want an example? Consider AIG affiliate National Union (NU). AIG indicated to Pennsylvania state insurance investigators that it had $33.7 billion in assets at the end of 2008 -- more than enough to protect against $21.9 billion in liabilities. But what the Pennsylvania regulators did not see is that $10.9 billion worth of NU's assets were investments in other AIG affiliates, which are not publicly traded and whose value is hard to measure. Subtract that and you have only $22.8 billion in assets.

But wait -- there's more. NU had $42 billion more in liabilities that the Pennsylvania regulators missed. How so? NU had obligations to pay claims of other AIG insurance affiliates -- the biggest of which was $23.1 billion that it owed AIG affiliate American Home (AH). NU owed another $19 billion to several other AIG afiiliates.

Meanwhile, AH had crushing obligations of its own. While the New York state regulators thought it had $26.3 billion in assets to a mere $19.9 billion in liabilities, the reality was far more dire. How so? AH was on the hook for an additional $120.7 billion in guarantees to 16 other AIG affiliates. Thus AH's liabilities really exceeded its assets by $114 billion.

To summarize, AIG's core insurance companies seem to be like a shell game which AIG was able to continue operating because it was able to keep the cash moving from the affiliate that one state regulator had just examined to the one that another state regulator was about to examine.

Unfortunately, it would not surprise me if this was happening and continues to happen at all big U.S. insurance companies. Moreover, I would be shocked if former AIG CEO Hank Greenberg -- who has heaped scorn on his successors -- was unaware of this practice.

Is it too early to write off that $182 billion?

http://www.dailyfinance.com/2009/07/31/aft...verge-of-colla/

[Naam]

After $182 billion taxpayer rescue, is AIG on the verge of collapse?

yes, it is

[AlexLah]

Gosh now I understand why you enjoy playing around with your dogs, jeez sifting through 280+ pages of legalese crap.

Jcon you really know how to destroy a good intro about the Apocalyptic Riders and doom and gloom scenario's. We need drama!

Anywaysie, let's see who's really wearing the pants in the US of A : http://www.nytimes.com/2009/08/04/us/polit...obama.html?_r=1

Jake the forum is about the "New Economy" (whatever that means) and an invitation was posted here in this section by SBK a while ago.

Main speaker is J,Stiglitz and it will be interesting what he has to say as he is a guy who calls a spade a spade (No bullcrap from him).

Event is held in BKK in the Dusit Thani on 21-08 but is by invitation only (Contact SBK if you are interested).

Edit: Not forget about CAPCO another dodgy insurance company as was mentioned earlier by B.

Edited August 4, 2009 by AlexLah

[flying]

yes, it is

hahahah I know !

The FDIC just needs 500 Billion from the Treasury

(heard that is a go yesterday ...lucky dogs )wanna bet they will need more too?

Because a big one is failing in the old idiots village

home of Texas soon.

I am so glad we have the ability to make money like we do

We truly are the greatest nation on earth.....No I bet the greatest in the galaxy...maybe more? Well of course maybe not better than the Klingon planet Kronos

http://market-ticker.org/archives/1283-Is-...ring-It-Up.html

http://online.wsj.com/article/SB123630125365247061.html

http://money.cnn.com/2009/07/31/news/compa...sion=2009073113

Edited August 4, 2009 by flying

[midas]

I was going to comment when Naam asked the question of the Apocalyptic Riders (something along the lines of, "What good does it do to bitch on this forum?" - my edit for brevity, sorry Naam). I've also wondered the same thing, and while I know some of you 'seek the truth,' I must say it comes across as childish and pointless after 100+ pages, and in case you were hiding behind your keyboard since March we've had a monster rally in which a monkey could have made AT LEAST 40% just buying whatever monkey likey.

But hey, if I know you guys, you can counter with some argument like, "Jcon, we aren't in it for the money like you, we want to get to the bottom of this global conspiracy." To that, I say good luck - but maybe you could be more effective with some money in your pocket, you could even *gasp* start up a website and an *gasp* underground movement with the proceeds you made from the *gasp* markets - then in the end you could *gasp* say, "See, you conspirators, we took you down with your own money!" But you won't. Fine by me. Just stick to the status quo then and bitch on ThaiVisa - yeah, that'll stick it to 'em. I'm sure the Bilergergersbergs have "ThaiVisa's Financial Crisis thread" bookmarked. Sick 'em, teletiger! Grrr!!!!

So for every *sob* photo essay on the poor, one can make a photo essay of the *gasp* rich. And for every this, there inevitably be a 'that.' Yin/Yang. Good/Evil. Spin one way/Spin the other way. Action/Reaction. Bull/Bear. Doom/Paradise. Call it what you will, but the truth is always probably somewhere in between. Such a simple concept, yet so hard-to-grasp for so many people...

Go ahead, cry foul because I'm not on the streets begging and out of a job and thus 'cannot see the reality.' Better yet, ask another forum member who just moved to that American city known as The Center of The Known Universe - she'd give you a better idea of what's going on here - but I assure you, she'd probably say something similar - aka "Get over it".

I dont think we are " throwing stones from halfway around the world " jcon or what you regard as " bitching on this forum " ?

For me, this thread is simply a convenient way to access articles and UTube excerpts that we wouldn't otherwise see through MSM

and then to exchange views.

But I am surprised that when you say " USA is still kicking ass " why more Americans are not " kicking ass " when it comes to your elected

representatives in Washington who seem to be financially sodomising the American people more and more every day.

Maybe the fact that we are half way around the world makes the whole charade more easy for us to see.

Everyday I ask myself have the U.S. pollies arrogantly assumed if members of the U.S. public can just be given the means to keep making money

on the Wall Street casino - anyway possible - (including market manipulation through the plunge protection team )

- the positions of people like Barnie Franks and other crooks in your Congress would still be safe never mind their lies and antics? As it is -to me as an outsider

it's like watching mass hypnosis and I can't believe that Americans seem so oblivious to what is happening under their noses

For example - yesterday's headline was :-

Geithner Won't Rule Out New Taxes for Middle Class - This is despite what your " dear leader " promised you so many times in his election campaign.

I'm fascinated that in almost every post you make-your sole obsession seems to reflect the need to report your vainglorious achievements

on the stock market and this seems more important to you than any concern about the economic and social decay occurring in your country

My counter is that I already have more than enough zeros in my bank balance- but actually I attribute greater value to my little

rice farm in Sisaket where I've got enough food to last me a long time should there be chaos for any reason. ( eg if Israel attacks Iran )

I think it is highly presumptuous of you to assume just because your supermarket shelves are full today -

they will automatically always be full.

[midas]

yes, it is

hahahah I know !

The FDIC just needs 500 Billion from the Treasury

(heard that is a go yesterday ...lucky dogs )wanna bet they will need more too?

Because a big one is failing in the old idiots village

home of Texas soon.

I am so glad we have the ability to make money like we do

We truly are the greatest nation on earth.....No I bet the greatest in the galaxy...maybe more? Well of course maybe not better than the Klingon planet Kronos

http://market-ticker.org/archives/1283-Is-...ring-It-Up.html

http://online.wsj.com/article/SB123630125365247061.html

http://money.cnn.com/2009/07/31/news/compa...sion=2009073113

"extend and pretend" I love it

[Naam]

yes, it is

hahahah I know ! The FDIC just needs 500 Billion from the Treasury. ...wanna bet they will need more too? Because a big one is failing in the old idiots village home of Texas soon.

that is not correct Flying. correct is that there is a move for legislation that might allow the FDIC to temporarily borrow up to 500bb. nothing more nothing less to add except that these news are five months old and that it might be a necessity in order that the FDIC can fulfill its obligations. whether they need more or not is anybody's guess.

next apocalyptic nice try please , but if possible one that is relevant for Flying who's personal FDIC is gold and who had no money in any bank and therefore does not pay any taxes, relevant for Alex who is not looking for a job as a cowboy in Texas, relevant for Midas who's ricefield cannot be taxed by Obama and relevant for Naam who holds a few thousand FDIC insured dollars on his two bank accounts in the Greatest Nation on Earth™.