Financial Crisis

[MJP]

exactly !

"We are investing in a paperless society where everyone in the world is becoming either a banker, a fund manager, or a hairdresser - it's all about services. A non-productive society reigns supreme in most developed countries."

https://www.tradingfloor.com/posts/jakobsen-market-correction-will-be-deeper-and-deeper-in-2015-2559139

So, got any hairdressing tips?

Short back and sides? Perhaps with a Kondratiev quiff?

[MJP]

Watch and try not to explode . . .

http://www.channel4.com/news/catch-up/display/playlistref/241114/clipid/241114_4ON_rbs_vt_pm_24

http://www.channel4.com/news/catch-up/display/playlistref/241114/clipid/241114_banksdisco

Criminals. Pure and simple.

[midas]

Just how much ( BLANK ) did George Osborne take last night?

https://twitter.com/keewa/status/537594508641591296/photo/1

[Harsh Jones]

Publicus reckons gold is going to be revalued to 3000 doallrs by USA. Has anyone heard of this ?

Revalued?

Gold always gets revalued. It was revalued 40% higher in the great depression.

[Harsh Jones]

not totally true but I look at the other hand too, if you buy a laptop, you pay now 17000 bahts, years ago it costed over 30000, you saved 13000 bahts, which is 4 months rent for a single room.

same for flat screen TV and else.

I mentioned air Asia as an example, before I was paying 3000 bahts for a local flight in Thailand, since air Asia came, prices are 1/3 now . I m sure, you guys, can find many things now cheaper.

another example are the easy hotels, air B&B, and Uber....

These falling prices are capitalism at work. In an environment where the central banks of the world were not expanding their balance sheet at lunatic levels, these prices would have fallen even more.

There is no black magic in monetary expansion.

[Harsh Jones]

what happened to the "peak oil" and "crude $200/barrel" gloom&doomers?

Don't confuse ppl who understand that recessions are necessary with peak oilers.

The one thing the peak oilers have right is that if the price of oil falls enough , the central banks will bail the companies out. Which will flooed the forex markets with more dollars. And $200 oil won't be out of the question nominally.

[ronz28]

Falling prices for energy are partially a result of new technology that recently reduced the price of large scale wind energy costs down to $US .014 per kilowatt-hour far cheaper than cheap natural gas which still costs at least $US .061 a kilowatt-hour. http://www.nytimes.com/2014/11/24/business/energy-environment/solar-and-wind-energy-start-to-win-on-price-vs-conventional-fuels.html?_r=1

However, my electric company charges me $US .13 per per kilowatt-hour (natural gas & nuclear power plants)

Edited November 27, 2014 by ronz28

[Harsh Jones]

Falling prices for energy are partially a result of new technology that recently reduced the price of large scale wind energy costs down to $US .014 per kilowatt-hour far cheaper than cheap natural gas which still costs at least $US .061 a kilowatt-hour. http://www.nytimes.com/2014/11/24/business/energy-environment/solar-and-wind-energy-start-to-win-on-price-vs-conventional-fuels.html?_r=1

However, my electric company charges me $US .13 per per kilowatt-hour (natural gas & nuclear power plants)

Oil prices are down 6% this morning. This is a financial move. The long standing trend backed by technology has nothing to do with moves like this. Sticky high oil prices are a key reason for social stability in most oil exporting countries. This will get ugly.

And these falling prices will also take the wind out of the renewable energy sector because there is no way they can compete with cheap oil

[Naam]

what happened to the "peak oil" and "crude $200/barrel" gloom&doomers?

Don't confuse ppl who understand that recessions are necessary with peak oilers.

The one thing the peak oilers have right is that if the price of oil falls enough , the central banks will bail the companies out. Which will flooed the forex markets with more dollars. And $200 oil won't be out of the question nominally.

please enlighten us which central banks will bail out what "companies" based on the well known fact that central banks of oil producing countries and the countries themselves are carried financially on the back of their oil producing companies and not the other way round.

the latter applies not only to OPEC but to all major oil producing and oil exporting countries.

[cheeryble]

Maybe USA will bail out BP with the dollars Judge What's-his-face screwed out of them?

A sort of lubricious karma....you get back what you give.

Oh hang on.

BP makes $5B a quarter in profits?

Guess the screwing will continue.

Edited November 28, 2014 by cheeryble

[SheungWan]

what happened to the "peak oil" and "crude $200/barrel" gloom&doomers?

Don't confuse ppl who understand that recessions are necessary with peak oilers.

The one thing the peak oilers have right is that if the price of oil falls enough , the central banks will bail the companies out. Which will flooed the forex markets with more dollars. And $200 oil won't be out of the question nominally.

I think you may be the one who is confused. If you are predicting that oil will go to $200, but only nominally, then what you are actually suggesting is that the real price of oil remains the same.while inflation increases by well over 150%.

[Harsh Jones]

what happened to the "peak oil" and "crude $200/barrel" gloom&doomers?

Don't confuse ppl who understand that recessions are necessary with peak oilers.

The one thing the peak oilers have right is that if the price of oil falls enough , the central banks will bail the companies out. Which will flooed the forex markets with more dollars. And $200 oil won't be out of the question nominally.

please enlighten us which central banks will bail out what "companies" based on the well known fact that central banks of oil producing countries and the countries themselves are carried financially on the back of their oil producing companies and not the other way round.

the latter applies not only to OPEC but to all major oil producing and oil exporting countries.

The Fed had trillions of dollars worth of liquidity swap lines with commercial banks and trading houses all over the world that was finding its way into the oil market and the oil companies when the price of oil cratered down to $30 in 2008. The price didn't magically jump back up to $90 in less then a year from real demand driven price discovery.

[Harsh Jones]

what happened to the "peak oil" and "crude $200/barrel" gloom&doomers?

Don't confuse ppl who understand that recessions are necessary with peak oilers.

The one thing the peak oilers have right is that if the price of oil falls enough , the central banks will bail the companies out. Which will flooed the forex markets with more dollars. And $200 oil won't be out of the question nominally.

I think you may be the one who is confused. If you are predicting that oil will go to $200, but only nominally, then what you are actually suggesting is that the real price of oil remains the same.while inflation increases by well over 150%.

Yeah I am suggesting that something along those lines is a possibility. That is what happened in the 70's. The USD was devalued by 40%. If you are earning dollars, it is still a real price increase for you. Wages aren't tied to inflation.

The people that think we can't have a bear market in oil are dreaming. It is here. But a bear market in oil means that the global economy is going into recession. And what do the central banks do when there is a recession ? Expand their balance sheets (print money)

[MJP]

what happened to the "peak oil" and "crude $200/barrel" gloom&doomers?

Don't confuse ppl who understand that recessions are necessary with peak oilers.

The one thing the peak oilers have right is that if the price of oil falls enough , the central banks will bail the companies out. Which will flooed the forex markets with more dollars. And $200 oil won't be out of the question nominally.

I think you may be the one who is confused. If you are predicting that oil will go to $200, but only nominally, then what you are actually suggesting is that the real price of oil remains the same.while inflation increases by well over 150%.

Yeah I am suggesting that something along those lines is a possibility. That is what happened in the 70's. The USD was devalued by 40%. If you are earning dollars, it is still a real price increase for you. Wages aren't tied to inflation.

The people that think we can't have a bear market in oil are dreaming. It is here. But a bear market in oil means that the global economy is going into recession. And what do the central banks do when there is a recession ? Expand their balance sheets (print money)

I did mention to buy gold due to ECB printy printy a few pages back, but Naam wouldn't have any of it . . .

http://www.thaivisa.com/forum/topic/779984-gold-rush-in-europe-as-concern-over-money-printing-rises/

[ronz28]

We have plenty of wind in the US and so do most other countries so dirty coal, oil, gas and nuclear is dead. They better keep pumping as much as they can sell now because as wind power takes over the price of dirty fuel will keep going lower.

[jpinx]

The whole gold thing is carefully obfuscated -- take these somewhat conflicting stories..

http://news.goldseek.com/GoldSeek/1401807525.php

reference Portugal ...

...........this gold is no longer stored in this central bank's vault and...no longer available as a monetary reserve.” Yet the policy of the International Monetary Fund is to count loans and swaps as reserves....

..........when German accountability met the NY Fed. “The Federal Reserve Bank of New York...had excuses why representatives from the Bundesbank would be unable to see German gold...........

.............. a year after the original Bundesbank demand, the NY Fed had returned only 5 tons of the German government's gold. Again, the bars were not the original ones.................

................An 2012 audit conducted by the US Inspector General of the Treasury established that 99.98% of the gold held by the US is housed at the NY Fed. Germany deposited 1,500 tons of gold there, yet the audit shows the NY Fed contains 419 tons in total, and that includes coins........

and

http://www.usatoday.com/story/money/business/2014/03/22/wall-st-cheat-sheet-nations-gold/6709493/

..............the world's largest economy holds 8,133.5 tonnes of gold,.......

Someone is telling huge porkie-pies.. The IMF accepts that the gold doesn't need to physically be in the vault, the US refuses to allow the owner of some gold to look at it. The USA says it has over 8,000 tonnes, but the Auditors only found 419, which was meant to include other country's gold in safe-keeping. My 10-year-old grandson plays cleudo and could work this one out in an instant.

There' s an interesting train of thought which links gold being "lent" to China and Russia as a guarantee of trade agreements,,,,

Where's Sherlock when you need him

[SheungWan]

The whole gold thing is carefully obfuscated -- take these somewhat conflicting stories..

http://news.goldseek.com/GoldSeek/1401807525.php

reference Portugal ...

...........this gold is no longer stored in this central bank's vault and...no longer available as a monetary reserve.” Yet the policy of the International Monetary Fund is to count loans and swaps as reserves....

..........when German accountability met the NY Fed. “The Federal Reserve Bank of New York...had excuses why representatives from the Bundesbank would be unable to see German gold...........

.............. a year after the original Bundesbank demand, the NY Fed had returned only 5 tons of the German government's gold. Again, the bars were not the original ones.................

................An 2012 audit conducted by the US Inspector General of the Treasury established that 99.98% of the gold held by the US is housed at the NY Fed. Germany deposited 1,500 tons of gold there, yet the audit shows the NY Fed contains 419 tons in total, and that includes coins........

and

http://www.usatoday.com/story/money/business/2014/03/22/wall-st-cheat-sheet-nations-gold/6709493/

..............the world's largest economy holds 8,133.5 tonnes of gold,.......

Someone is telling huge porkie-pies.. The IMF accepts that the gold doesn't need to physically be in the vault, the US refuses to allow the owner of some gold to look at it. The USA says it has over 8,000 tonnes, but the Auditors only found 419, which was meant to include other country's gold in safe-keeping. My 10-year-old grandson plays cleudo and could work this one out in an instant.

There' s an interesting train of thought which links gold being "lent" to China and Russia as a guarantee of trade agreements,,,,

Where's Sherlock when you need him

The one's telling pork pies are the gold bugs endlessly repeating rubbish previously debunked. One trick ponies.

[SheungWan]

We have plenty of wind in the US and so do most other countries so dirty coal, oil, gas and nuclear is dead. They better keep pumping as much as they can sell now because as wind power takes over the price of dirty fuel will keep going lower.

Plenty of wind in the above fantasy.

[jpinx]

The whole gold thing is carefully obfuscated -- take these somewhat conflicting stories..

http://news.goldseek.com/GoldSeek/1401807525.php

reference Portugal ...

...........this gold is no longer stored in this central bank's vault and...no longer available as a monetary reserve.” Yet the policy of the International Monetary Fund is to count loans and swaps as reserves....

..........when German accountability met the NY Fed. “The Federal Reserve Bank of New York...had excuses why representatives from the Bundesbank would be unable to see German gold...........

.............. a year after the original Bundesbank demand, the NY Fed had returned only 5 tons of the German government's gold. Again, the bars were not the original ones.................

................An 2012 audit conducted by the US Inspector General of the Treasury established that 99.98% of the gold held by the US is housed at the NY Fed. Germany deposited 1,500 tons of gold there, yet the audit shows the NY Fed contains 419 tons in total, and that includes coins........

and

http://www.usatoday.com/story/money/business/2014/03/22/wall-st-cheat-sheet-nations-gold/6709493/

..............the world's largest economy holds 8,133.5 tonnes of gold,.......

Someone is telling huge porkie-pies.. The IMF accepts that the gold doesn't need to physically be in the vault, the US refuses to allow the owner of some gold to look at it. The USA says it has over 8,000 tonnes, but the Auditors only found 419, which was meant to include other country's gold in safe-keeping. My 10-year-old grandson plays cleudo and could work this one out in an instant.

There' s an interesting train of thought which links gold being "lent" to China and Russia as a guarantee of trade agreements,,,,

Where's Sherlock when you need him

The one's telling pork pies are the gold bugs endlessly repeating rubbish previously debunked. One trick ponies.

That's suitably vague It's be interesting to read some other valid sources on this topic

[SheungWan]

Publicus reckons gold is going to be revalued to 3000 doallrs by USA. Has anyone heard of this ?

Revalued?

Gold always gets revalued. It was revalued 40% higher in the great depression.

Yes, when Ron Paul is appointed Emeritus President he will put the USA back on the gold standard at $3000 per oz. Oh no, wait! My crystal ball is telling me that gold will want to go to $5000 and the GBs are going to switch off the power supply to his embalming fluid up for holding the price back.......

[midas]

The whole gold thing is carefully obfuscated -- take these somewhat conflicting stories..

http://news.goldseek.com/GoldSeek/1401807525.php

reference Portugal ...

...........this gold is no longer stored in this central bank's vault and...no longer available as a monetary reserve.” Yet the policy of the International Monetary Fund is to count loans and swaps as reserves....

..........when German accountability met the NY Fed. “The Federal Reserve Bank of New York...had excuses why representatives from the Bundesbank would be unable to see German gold...........

.............. a year after the original Bundesbank demand, the NY Fed had returned only 5 tons of the German government's gold. Again, the bars were not the original ones.................

................An 2012 audit conducted by the US Inspector General of the Treasury established that 99.98% of the gold held by the US is housed at the NY Fed. Germany deposited 1,500 tons of gold there, yet the audit shows the NY Fed contains 419 tons in total, and that includes coins........

and

http://www.usatoday.com/story/money/business/2014/03/22/wall-st-cheat-sheet-nations-gold/6709493/

..............the world's largest economy holds 8,133.5 tonnes of gold,.......

Someone is telling huge porkie-pies.. The IMF accepts that the gold doesn't need to physically be in the vault, the US refuses to allow the owner of some gold to look at it. The USA says it has over 8,000 tonnes, but the Auditors only found 419, which was meant to include other country's gold in safe-keeping. My 10-year-old grandson plays cleudo and could work this one out in an instant.

There' s an interesting train of thought which links gold being "lent" to China and Russia as a guarantee of trade agreements,,,,

Where's Sherlock when you need him

The one's telling pork pies are the gold bugs endlessly repeating rubbish previously debunked. One trick ponies.

Evidently you are not as smart as jpinx’s 10 year old grandson ………….. but then we knew that already from long ago.

And anyway it's probably better for you to keep quiet on this matter until at least you can understand the price of gold ( 1200 baht )

Edited November 29, 2014 by midas

[SheungWan]

The whole gold thing is carefully obfuscated -- take these somewhat conflicting stories..

http://news.goldseek.com/GoldSeek/1401807525.php

reference Portugal ...

...........this gold is no longer stored in this central bank's vault and...no longer available as a monetary reserve.” Yet the policy of the International Monetary Fund is to count loans and swaps as reserves....

..........when German accountability met the NY Fed. “The Federal Reserve Bank of New York...had excuses why representatives from the Bundesbank would be unable to see German gold...........

.............. a year after the original Bundesbank demand, the NY Fed had returned only 5 tons of the German government's gold. Again, the bars were not the original ones.................

................An 2012 audit conducted by the US Inspector General of the Treasury established that 99.98% of the gold held by the US is housed at the NY Fed. Germany deposited 1,500 tons of gold there, yet the audit shows the NY Fed contains 419 tons in total, and that includes coins........

and

http://www.usatoday.com/story/money/business/2014/03/22/wall-st-cheat-sheet-nations-gold/6709493/

..............the world's largest economy holds 8,133.5 tonnes of gold,.......

Someone is telling huge porkie-pies.. The IMF accepts that the gold doesn't need to physically be in the vault, the US refuses to allow the owner of some gold to look at it. The USA says it has over 8,000 tonnes, but the Auditors only found 419, which was meant to include other country's gold in safe-keeping. My 10-year-old grandson plays cleudo and could work this one out in an instant.

There' s an interesting train of thought which links gold being "lent" to China and Russia as a guarantee of trade agreements,,,,

Where's Sherlock when you need him

The one's telling pork pies are the gold bugs endlessly repeating rubbish previously debunked. One trick ponies.

Evidently you are not as smart as jpinx’s 10 year old grandson ………….. but then we knew that already from long ago.

And anyway it's probably better for you to keep quiet on this matter until at least you can understand the price of gold ( 1200 baht )

There is a world of difference between making an error and that of making a deliberate misrepresentation or, as in the case of some, lazily copying and pasting and repeating stuff from hysterical websites which are doing the misrepresentation.

[jpinx]

The whole gold thing is carefully obfuscated -- take these somewhat conflicting stories..

http://news.goldseek.com/GoldSeek/1401807525.php

reference Portugal ...

...........this gold is no longer stored in this central bank's vault and...no longer available as a monetary reserve.” Yet the policy of the International Monetary Fund is to count loans and swaps as reserves....

..........when German accountability met the NY Fed. “The Federal Reserve Bank of New York...had excuses why representatives from the Bundesbank would be unable to see German gold...........

.............. a year after the original Bundesbank demand, the NY Fed had returned only 5 tons of the German government's gold. Again, the bars were not the original ones.................

................An 2012 audit conducted by the US Inspector General of the Treasury established that 99.98% of the gold held by the US is housed at the NY Fed. Germany deposited 1,500 tons of gold there, yet the audit shows the NY Fed contains 419 tons in total, and that includes coins........

and

http://www.usatoday.com/story/money/business/2014/03/22/wall-st-cheat-sheet-nations-gold/6709493/

..............the world's largest economy holds 8,133.5 tonnes of gold,.......

Someone is telling huge porkie-pies.. The IMF accepts that the gold doesn't need to physically be in the vault, the US refuses to allow the owner of some gold to look at it. The USA says it has over 8,000 tonnes, but the Auditors only found 419, which was meant to include other country's gold in safe-keeping. My 10-year-old grandson plays cleudo and could work this one out in an instant.

There' s an interesting train of thought which links gold being "lent" to China and Russia as a guarantee of trade agreements,,,,

Where's Sherlock when you need him

The one's telling pork pies are the gold bugs endlessly repeating rubbish previously debunked. One trick ponies.

Evidently you are not as smart as jpinx’s 10 year old grandson ………….. but then we knew that already from long ago.

And anyway it's probably better for you to keep quiet on this matter until at least you can understand the price of gold ( 1200 baht )

There is a world of difference between making an error and that of making a deliberate misrepresentation or, as in the case of some, lazily copying and pasting and repeating stuff from hysterical websites which are doing the misrepresentation.

If you know more -- please share the knowledge and it's source

Knocking down a posting with vague and unsubstantiated commentary doesn't add to the debate

[SheungWan]

If you know more -- please share the knowledge and it's source

Knocking down a posting with vague and unsubstantiated commentary doesn't add to the debate

You mean the rubbish assertions (and that is all they are) from goldseek.com. Vague and unsubstantiated is the middle name for these hysterical websites whose main pupose in life is to sell gold ads and encourage the troops in their hour of need. Exhibit number one would be the bogus claim that Germany can't access their gold. An old piece of junk endlessly recycled by every new gold bug recruit. And that is what the copy and pasters do. Endlessly recycle.

[impulse]

We have plenty of wind in the US and so do most other countries so dirty coal, oil, gas and nuclear is dead. They better keep pumping as much as they can sell now because as wind power takes over the price of dirty fuel will keep going lower.

Google "yaw gear failures" and "wind turbine noise" and "migratory bird deaths" see why wind isn't a panacea just yet.

To be honest, I haven't actually Googled the failures, but have spent many hours diagnosing such failures, and it's quite an engineering challenge.

The other challenges are mostly NIMBY-cratism.

[jpinx]

If you know more -- please share the knowledge and it's source

Knocking down a posting with vague and unsubstantiated commentary doesn't add to the debate

You mean the rubbish assertions (and that is all they are) from goldseek.com. Vague and unsubstantiated is the middle name for these hysterical websites whose main pupose in life is to sell gold ads and encourage the troops in their hour of need. Exhibit number one would be the bogus claim that Germany can't access their gold. An old piece of junk endlessly recycled by every new gold bug recruit. And that is what the copy and pasters do. Endlessly recycle.

OK -- I'll ask the obvious question Where's your source for the information that Germany was allowed to inspect their gold and what was the result? Please feel free to copy/paste but make sure you include the link to your source

[Harsh Jones]

Publicus reckons gold is going to be revalued to 3000 doallrs by USA. Has anyone heard of this ?

Revalued?

Gold always gets revalued. It was revalued 40% higher in the great depression.

Yes, when Ron Paul is appointed Emeritus President he will put the USA back on the gold standard at $3000 per oz. Oh no, wait! My crystal ball is telling me that gold will want to go to $5000 and the GBs are going to switch off the power supply to his embalming fluid up for holding the price back.......

Unlike anything else, golds bottoms are always higher then the previous credit cycle highs. Gold started its previous credit cycle back in the 60's when interest rates were 1% ish. Gold was $35. Gold went from $35 to $850 as interest rates went up and that credit cycle ended.

This credit cycle hasn't even ended yet. Look interest rates. Have they gone up ? Nope. So $1000 is the new $35.

Bash the "gold bugs" all you want. This is just taking longer then anyone expected. Doesn't mean they are wrong.

[ronz28]

Of course there are on going operation and maintenance costs for wind power systems, but they are far less than those of dirty coal, oil, gas and nuclear that also permanently pollute/contaminate the environment and kill far more birds, fish, animals, humans, etc. than happens when a dumb bird flys into a windmill. I have heard of abandoned wind mills in California so I get your point, I just think these maintenance issues are easier to overcome than global warming and disposal of spent nuclear fuel like that leaking out of Fukushima daily that may end up killing our grand children.

[SheungWan]

If you know more -- please share the knowledge and it's source

Knocking down a posting with vague and unsubstantiated commentary doesn't add to the debate

You mean the rubbish assertions (and that is all they are) from goldseek.com. Vague and unsubstantiated is the middle name for these hysterical websites whose main pupose in life is to sell gold ads and encourage the troops in their hour of need. Exhibit number one would be the bogus claim that Germany can't access their gold. An old piece of junk endlessly recycled by every new gold bug recruit. And that is what the copy and pasters do. Endlessly recycle.

OK -- I'll ask the obvious question Where's your source for the information that Germany was allowed to inspect their gold and what was the result? Please feel free to copy/paste but make sure you include the link to your source

You miss the point. Germany hasn't been forbidden anything and the big lie that the Fed is blocking anything is pure speculation and fantasy driven. Try and copy/paste something else or better still don't.

[SheungWan]

Of course there are on going operation and maintenance costs for wind power systems, but they are far less than those of dirty coal, oil, gas and nuclear that also permanently pollute/contaminate the environment and kill far more birds, fish, animals, humans, etc. than happens when a dumb bird flys into a windmill. I have heard of abandoned wind mills in California so I get your point, I just think these maintenance issues are easier to overcome than global warming and disposal of spent nuclear fuel like that leaking out of Fukushima daily that may end up killing our grand children.

The suggestion that the cost of running wind power systems is lower than the alternatives and can/should comprehensively replace them is pure pie in the sky.

Edited November 29, 2014 by SheungWan