Financial Crisis

[midas]

flying here is your chance to get back ..

Do you think this will work ?

Oh I have

Back when I wrote my congress critters & asked for no bail out as the majority did...my two rightly voted no.

But then later changed their votes as many did.... under pressure from Senate, Bush,Obama,Paulson et al

I wrote back & suggested it was not possible in that amount of time that they actually got back to their constituents nor had the right to change *our* vote.

At that point I realized we are now truly in a state of taxation without representation.

I decided then & there I would fulfill my end of the deal.

This movement seems quite well organised and seem ready for anything

" IN CASE OF INTERNET SHUT DOWN OR FALSE FLAG MARTIAL LAW BLACKOUTS,

WE'LL USE THE CONFERENCE CALL LINE EVERY NIGHT AT 7 PM PACIFIC TO STAY

CONNECTED AND SHARE INFORMATION ALSO 11 AM SATURDAYS "

[Naam]

http://www.interactivebrokers.com/en/p.php...p;ib_entity=llc

I'm not sure how opening an account here fits in with having one's financial affairs "offshore". I remeber when I ad CS account, most US securities were off limits.

they are still off limits for US-citizens and US-persons if they bank outside the US. personally i wouldn't entrust any broker with any amount of my money. only a bit over a year ago e*trade was on the verge of bankruptcy. moreover, when i call the institution where i have money i don't want to talk to a completely ignorant person who sits perhaps in a call center in Bangalore or Mumbai even if recently trained to put on some american accent and therefore will pronounce "twenty" as "twonny".

[churchill]

With strikes in the UK , Germany , France , Spain , Greece probably Italy

"Trouble-shooters from the European Commission, European Central Bank and IMF descended on Greece Tuesday to check on its bid to tame rampant debt on the eve of a general strike against austerity measures"

http://www.france24.com/en/20100223-financ...ce-strike-looms

Whatever the politicians and financiers agree to - Will the public accept ?

[jcon]

A couple of comments on the Greek issue that I have read and quite liked....

<snip>

'If sovereign lifeguards saved the corporations when the crisis first hit, who is left to save the lifeguards?'

Naam has 2 dogs now, Abrak. I hear they are strong swimmers.

Gambles, how many times have you blown out?

Can we please refrain from using any of the combinations of words "shorting," "sovereign," and "debt?" If anybody in this forum has any access to such trade (or "related trades") please provide details as I always like to hear of a good blow-out from somebody playing way over their league. But hey, let's not let reality factor in here, this is TV you know.

Signed,

Sifu jcon

[AlexLah]

Hah! J the Con man is back, but is he on track?

How's your Brazilian bet going? Or did you took the advice of: "The one that knows" Sifu?

Keep coming back Jcon, we were missing you.....

Yeah yeah, picture I know....

[Gambles]

A couple of comments on the Greek issue that I have read and quite liked....

<snip>

'If sovereign lifeguards saved the corporations when the crisis first hit, who is left to save the lifeguards?'

Naam has 2 dogs now, Abrak. I hear they are strong swimmers.

Gambles, how many times have you blown out?

Can we please refrain from using any of the combinations of words "shorting," "sovereign," and "debt?" If anybody in this forum has any access to such trade (or "related trades") please provide details as I always like to hear of a good blow-out from somebody playing way over their league. But hey, let's not let reality factor in here, this is TV you know.

Signed,

Sifu jcon

jcon,

I'm not sure what you mean by blown out. Remember I'm just a mere advisor who directs money into the management of those who know what they're doing with it. I don't claim to be a trader or guru or anything smart myself - just passing on what I've learned at the feet of the masters to anyone who is interested.

I can check the CFD minimum for such a trade but I'd guess well within most people's means - but the trade should probably only be a very small % of any portfolio.

cheers,

Paul

Edited February 23, 2010 by Gambles

[lannarebirth]

A couple of comments on the Greek issue that I have read and quite liked....

<snip>

'If sovereign lifeguards saved the corporations when the crisis first hit, who is left to save the lifeguards?'

Naam has 2 dogs now, Abrak. I hear they are strong swimmers.

Gambles, how many times have you blown out?

Can we please refrain from using any of the combinations of words "shorting," "sovereign," and "debt?" If anybody in this forum has any access to such trade (or "related trades") please provide details as I always like to hear of a good blow-out from somebody playing way over their league. But hey, let's not let reality factor in here, this is TV you know.

Signed,

Sifu jcon

Push the red "T" and you're short sovereign debt:

[lannarebirth]

A couple of comments on the Greek issue that I have read and quite liked....

<snip>

'If sovereign lifeguards saved the corporations when the crisis first hit, who is left to save the lifeguards?'

Naam has 2 dogs now, Abrak. I hear they are strong swimmers.

Gambles, how many times have you blown out?

Can we please refrain from using any of the combinations of words "shorting," "sovereign," and "debt?" If anybody in this forum has any access to such trade (or "related trades") please provide details as I always like to hear of a good blow-out from somebody playing way over their league. But hey, let's not let reality factor in here, this is TV you know.

Signed,

Sifu jcon

jcon,

I'm not sure what you mean by blown out. Remember I'm just a mere advisor who directs money into the management of those who know what they're doing with it. I don't claim to be a trader or guru or anything smart myself - just passing on what I've learned at the feet of the masters to anyone who is interested.

I can check the CFD minimum for such a trade but I'd guess well within most people's means - but the trade should probably only be a very small % of any portfolio.

cheers,

Paul

He means blown out an account. Margin called to zero balance (or worse).

[Gambles]

A couple of comments on the Greek issue that I have read and quite liked....

<snip>

'If sovereign lifeguards saved the corporations when the crisis first hit, who is left to save the lifeguards?'

Naam has 2 dogs now, Abrak. I hear they are strong swimmers.

Gambles, how many times have you blown out?

Can we please refrain from using any of the combinations of words "shorting," "sovereign," and "debt?" If anybody in this forum has any access to such trade (or "related trades") please provide details as I always like to hear of a good blow-out from somebody playing way over their league. But hey, let's not let reality factor in here, this is TV you know.

Signed,

Sifu jcon

jcon,

I'm not sure what you mean by blown out. Remember I'm just a mere advisor who directs money into the management of those who know what they're doing with it. I don't claim to be a trader or guru or anything smart myself - just passing on what I've learned at the feet of the masters to anyone who is interested.

I can check the CFD minimum for such a trade but I'd guess well within most people's means - but the trade should probably only be a very small % of any portfolio.

cheers,

Paul

He means blown out an account. Margin called to zero balance (or worse).

I see. Thanks for the clarification.

Never.

[Naam]

Push the red "T" and you're short sovereign debt:

WHAT sovereign debt?

[lannarebirth]

Push the red "T" and you're short sovereign debt:

WHAT sovereign debt?

UST 10 yr Bond, symbol ZN

[lannarebirth]

Push the red "T" and you're short sovereign debt:

WHAT sovereign debt?

UST 10 yr Bond, symbol ZN

More specifically the ZNH10 ZN (10 Year Note) H (March) 10 (2010)

http://www.barchart.com/quotes/ZNH10

[flying]

Greeks Scramble To Pull Out €8 Billion From Local Banks As Greece Responds With Money Control Measures

In The Worst Possible Moment, Fitch Downgrades Greece's Largest Banks To BBB, Bund Spread Jumps 10 Bps To 325

I wonder what effect the strikes in Spain & Greece will have?

I believe they are scheduled for tomorrow.

[Naam]

More specifically the ZNH10 ZN (10 Year Note) H (March) 10 (2010)

http://www.barchart.com/quotes/ZNH10

what's that? expiry?

[lannarebirth]

More specifically the ZNH10 ZN (10 Year Note) H (March) 10 (2010)

http://www.barchart.com/quotes/ZNH10

what's that? expiry?

It's a futures contract. The particular one I used as an example is this front month contract:

There are others of course:

http://www.barchart.com/futures/commodities/ZNH0

Not the same as a true short in that you have "premium" to consider, but then cash outlay is a whole lot less .

[churchill]

It's getting nasty /

"Pangalos criticised Germany's attitude towards the Greek crisis, saying Athens had never received compensation for the economic impact of the Nazi occupation during World War Two.

"They took away the Greek gold that was at the Bank of Greece (Stuttgart: 910622 - news) , they took away the Greek money and they never gave it back. This is an issue that has to be faced sometime in the future," he said.

"I don't say they have to give back the money necessarily but they have at least to say 'thanks'," he said. "And they shouldn't complain so much about stealing and not being very specific about economic dealings."

Greek politicians have been outraged by the tone of media coverage of the debt crisis in German media, such as a front-page picture in the weekly magazine Focus of "Venus de Milo"-type statue making an obscene finger gesture with the headline "Swindlers in the euro zone."

Pangalos also said the Greek situation would not have reached this point if there had been stronger leadership within the EU.

"The quality of leadership today in the Union is very, very poor indeed," he said, adding that it had been better in the 1980s when Jacques Delors headed the European Commission and Helmut Kohl, Francois Mitterrand and Margaret Thatcher were in power in Germany, France and Britain."

Italy masked finances worse than Greece - Pangalos

http://uk.finance.yahoo.com/news/italy-mas..._medium=twitter

Well I agree about Margret Thatcher - I think she would be banging heads together , not waiting for markets to decide /

[Naam]

More specifically the ZNH10 ZN (10 Year Note) H (March) 10 (2010)

http://www.barchart.com/quotes/ZNH10

what's that? expiry?

It's a futures contract. The particular one I used as an example is this front month contract..

which expires on march 22. i am not brain-amputated to short 10Y-UST for such a short period

[Chaimai]

12D will probably have a view on this:-

Bailed-out bank RBS has confirmed it has been given the Government's consent to hand out £1.3bn in bonuses to its investment bankers.

'To Give Blessing To RBS Bonus Plans' .

UKFI, the body which handles the taxpayer's stake in Britain's part-nationalised banks, has written to the bank to give the proposals its blessing.

The Treasury had the right to veto any RBS 2009 bonus deal, a provision that followed the bank's decision last year to sign up to a state scheme for bad debts.

Sky News City editor Mark Kleinman said the move signalled a win for RBS in its battle to run itself on a commercial basis rather than being simply an arm of the Government.

[neil324]

12D will probably have a view on this:-

Bailed-out bank RBS has confirmed it has been given the Government's consent to hand out £1.3bn in bonuses to its investment bankers.

'To Give Blessing To RBS Bonus Plans' .

UKFI, the body which handles the taxpayer's stake in Britain's part-nationalised banks, has written to the bank to give the proposals its blessing.

The Treasury had the right to veto any RBS 2009 bonus deal, a provision that followed the bank's decision last year to sign up to a state scheme for bad debts.

Sky News City editor Mark Kleinman said the move signalled a win for RBS in its battle to run itself on a commercial basis rather than being simply an arm of the Government.

Beggars belief.

[sokal]

Keynesian economics is certainly making sure that we make no progress with dealing with debt, which is the whole problem.

[Abrak]

Keynesian economics is certainly making sure that we make no progress with dealing with debt, which is the whole problem.

Do you remember this famous quote 'If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours'

And this one you will like even more 'By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.'

And you managed to guess first time correctly.....

JMK...the second quote I would guess is at the the very core of your economic values. So why blame him? It is the equivalent of saying that Austrian economics is really just an evolutionary theory based on the underlying assumption that everyone is inherently stupid.

[Gambles]

Keynesian economics is certainly making sure that we make no progress with dealing with debt, which is the whole problem.

Do you remember this famous quote 'If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours'

And this one you will like even more 'By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.'

And you managed to guess first time correctly.....

JMK...the second quote I would guess is at the the very core of your economic values. So why blame him? It is the equivalent of saying that Austrian economics is really just an evolutionary theory based on the underlying assumption that everyone is inherently stupid.

The likes of Keynes and Mises were both very advanced thinkers at the time although their theories were limited by the limitations in available knowledge and data. Fast forward and you get much more relevant modern thinking from their descendants such as Minsky and Rothbard (although I personally find that while I agree with a lot of "Causes of The Great Depression", Rothbard is very one-eyed when talking about gold. Be all that as it may, the key issues is that debating Austrian economics versus Keynesianism is like fiddling while Rome burns all the time that the Fed and the Treasury are led by monetarist economists spouting the flawed theories of Milton Friedman that have never yet worked in practice and are full of holes in theory. Japan for the last 20 years is a classic study in the implementation of the Friedman policies that are now being blindly implemented in America (and to a lesser extent other countries).

Guys, wouldn't it be better to unite and fight the common enemy because, at the moment, montarist lunacy is in charge of the show.

cheers,

Paul

[midas]

12D will probably have a view on this:-

Bailed-out bank RBS has confirmed it has been given the Government's consent to hand out £1.3bn in bonuses to its investment bankers.

'To Give Blessing To RBS Bonus Plans' .

UKFI, the body which handles the taxpayer's stake in Britain's part-nationalised banks, has written to the bank to give the proposals its blessing.

The Treasury had the right to veto any RBS 2009 bonus deal, a provision that followed the bank's decision last year to sign up to a state scheme for bad debts.

Sky News City editor Mark Kleinman said the move signalled a win for RBS in its battle to run itself on a commercial basis rather than being simply an arm of the Government.

Beggars belief.

Yes indeed and this is the most astonishing part :-

" Anger over plans by the Royal Bank of Scotland to pay its 22,000 investment bankers £1.3bn of bonuses escalated as the Edinburgh-based bank prepared to report losses of at least £5bn tomorrow."

[midas]

With all this talk about bankers bonuses on both sides of the Atlantic, what’s most striking to me is the contrast between a 9 million dollar bonus to Lloyd Blankfein while at the other end of the scale also in New York you have “ Tent City Springs Up in New York City Woods as Homeless Have Nowhere Else to Go “

[12DrinkMore]

12D will probably have a view on this:-

Bailed-out bank RBS has confirmed it has been given the Government's consent to hand out £1.3bn in bonuses to its investment bankers.

'To Give Blessing To RBS Bonus Plans' .

UKFI, the body which handles the taxpayer's stake in Britain's part-nationalised banks, has written to the bank to give the proposals its blessing.

The Treasury had the right to veto any RBS 2009 bonus deal, a provision that followed the bank's decision last year to sign up to a state scheme for bad debts.

Sky News City editor Mark Kleinman said the move signalled a win for RBS in its battle to run itself on a commercial basis rather than being simply an arm of the Government.

Too right I have, here is my view, already posted,

http://www.thaivisa.com/forum/Financial-Cr...30#entry3354830

[Naam]

With all this talk about bankers bonuses on both sides of the Atlantic, what’s most striking to me is the contrast between a 9 million dollar bonus to Lloyd Blankfein while at the other end of the scale also in New York you have “ Tent City Springs Up in New York City Woods as Homeless Have Nowhere Else to Go “

hmm... perhaps the homeless do not possess the right ethnicity?

[midas]

With all this talk about bankers bonuses on both sides of the Atlantic, what’s most striking to me is the contrast between a 9 million dollar bonus to Lloyd Blankfein while at the other end of the scale also in New York you have “ Tent City Springs Up in New York City Woods as Homeless Have Nowhere Else to Go “

hmm... perhaps the homeless do not possess the right ethnicity?

hmmm.........similar those with an ethnicity beginning with P

being openly evicted from their homes and sleeping out on the street in a city beginning with J………….the same culprits really

[AlexLah]

Ha, a game, I like these kind of games Midas, let me give it a try.

Polish and the city is: Jaraczewo.

Na na na na na?

[sokal]

Looks like JPM was late to their naked short desks today, gold was up $5 while the dollar was rallying but now its getting taken down. Off $1, still beating the dollar though

[Naam]

Ha, a game, I like these kind of games Midas, let me give it a try. Polish and the city is: Jaraczewo.

Na na na na na?

we have a winner! additional points will be awarded if you can specify the suburb of Jaraczewo.