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    • Thu, May 31, 2012 - 08:08am

      #24
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      mryuri

    mryuri wrote:

    By Graham Summers 

    (This guy is good!)

    I started reading Graham’s work at Phoenix Capital a couple of years ago but I’ve grown really quite weary of his writing as I find it to be more high pressure marketing than anything. Some of what he says I agree with but then there are many other writers/bloggers who have a similar message (but without the “quick, buy my newsletter and stock tips before the world ends”). I would just suggest a little caution.

    This is just my own opinion.

     

    • Sun, May 27, 2012 - 04:35pm

      #4
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      http://www.bloomberg.com/news

    http://www.bloomberg.com/news/2012-05-24/facebook-investor-spending-month-s-salary-exposes-hype.html

    “It’s disheartening to know that things get over-hyped,” Cefalu, a 34-year-old data-systems manager who spent about $4,000 on the stock, said in an interview. “That’s about a 12th of my annual income — so a month’s salary. I’m trying to do an on-my-own retirement kind of thing.”

    When I read things like this from supposedly intelligent people, especially those in the tech industry, I’m compeltely stumped as to how they didn’t see this IPO for what it was – another fleecing of the people by Wall St.

    And then I read articles like this from the likes of Bloomberg (though they are the norm rather than the exception)

    The outcome: After Facebook and its underwriters misjudged demand in pricing the IPO and glitches on the Nasdaq hampered trading on the first day, the world’s largest social-network website lost 18 percent in three days. The shares are still about 13 percent under their $38 IPO price after paring some losses.

    Outright bloody fraud, more like. And as for glitches, that’s rubbish too. Everyone was in their place, primed and ready for what they knew was going to happen. Nasdaq are fully aware of the volume of network traffic that this was going to generate. It’s not as if they don’t have plenty of experience of what happens when algo’s go wrong (or right…hard to say).

    Some investors managed to take advantage of the initial gain. James DiMaggio, a 29-year-old product line sales manager at Ametek Inc. in Morton, Pennsylvania, said he bought 200 shares at $38, sold half for $40.98 and made about $280.

    “The other half is now tanking,” said DiMaggio, who estimates his losses so far at $320. “It was really exciting in the beginning. I don’t gamble, and this is obviously a gamble.”

    He doesn’t gamble. And yet he’s playing on the stock market. WIth all these bad times around, I wonder why people think they have all this money to gamble on the market.

    But aside from all that, what never ceases to amaze me is looking at the data that Nanex produces. The following is from a Zerohedge article and this is just one of the graphs. This is 1 millisecond (1/1000 of a second) and just look at the number and volume of trades over that time.

    So the fleecing continues. Despite all the bad news, job losses, mortgage woes, house repo’s, student debt and rising prices etc, people still seem to find the money to gamble in a rigged market.

    Still, at least we get pretty chart pr0n.

    • Wed, May 16, 2012 - 10:34pm

      #2
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      I wouldn’t touch it with

    I wouldn’t touch it with someone else’s, but Karl Denninger over at market-ticker.org has some good info. The following is just 1 of several articles he’s written 

    http://market-ticker.org/akcs-www?singlepost=2856800

    I’m basing this on one, and only one, criteria — the rate of acquisition of new accounts is slowing.

    So he’s saying don’t buy because Facebook’s future growth prospects are not looking good, and if that’s true then they’ve peaked. Do read the rest of the article though.

    Personally I think their valuation is bananas.

     

    • Wed, May 16, 2012 - 07:39am

      #11
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      dshields wrote:There is

    dshields wrote:

    There is going to be trouble soon in Euroland.  You are very close to the EUR zone.

    As it happens we moved from the UK to mainland Europe earlier this year (to a country with their own currency) but we’re considering returning (work reasons). But I agree, there is going to be difficult times ahead and I’m getting really quite concerned. Not just for the duration of the coming storm but also for the aftermath. Will there be stricter border controls? How best to position my family so my son can have some semblance of a future?

    dshields wrote:

    Bless the politicians in GB that decided to keep the pound.

    I agree. I suspect their motives were mostly for their own political gain but still, having your own currency is important for retaining your sovereignty. Quite why the populace of EUR-member nations aren’t prosecuting their politicians for treason I don’t know. Still, things will change. Actually, I do know. It’s because we’re mostly asleep infront of the telly.

    dshields wrote:

    In Ameria it looks like the government is geaing up for a war.  However, it is starting to look like a war with the people.  An internal war.

    Again I agree. Whilst I try not to wear a tinfoil hat the number of extensions to police and military power is quite alarming. We lived in NYC a few years back but we left partly because I was concerned about the direction things were going there. But this is also true of the UK. There have been a number of really quite draconian laws passed over the years that didn’t get as much press as, say, the NDAA executive order. But the UK has a very oppressive regime. The Olympics is being used as a backdrop to bolster the efforts to quell the forthcoming uprising.

    http://www.independent.co.uk/sport/olympics/the-protest-games-demonstrators-target-olympics-7601129.html

    Olympic organisers were recently forced to more than double the number of security guards required for the Games from 10,000 to 23,700, pushing the cost of security up from £282m in 2010 to £553m in December 2011. They also announced earlier this month that 7,500 of the extra guards would be military personnel.

    That’s a lot of “security” for an event for which there’s no specific threat, eh? I wonder if those security guards are trained police or just regular folks given an official looking badge and a nightstick?

    http://www.independent.co.uk/news/uk/politics/demonstrations-to-be-banned-during-olympics-6265121.html

    Ministers are planning legal action to restrict public protests during the Olympics, amid fears that Britain could be disrupted by lengthy and high-profile demonstrations.

    So you can protest but if it interferes with the thing you’re protesting about then the govt bans it. And I wonder if those who are part of the machinery, the police etc who actually have to apply these laws, are thinking about what they’re being told to do? I believe there’s a precedent about “i was just following orders”.

    http://www.presstv.ir/detail/196108.html

    “Having carefully considered the legal tests in the Public Order Act and balanced rights to protest against the need to ensure local communities and property are protected, I have given my consent to a ban on all marches in Tower Hamlets and four neighbouring boroughs for a 30-day period”, said the Home Secretary.

    The ban will also affect London’s most important protest against the arms trade called “Disarm DSEi,” which has been organized by anti-war activists to urge the government to shut down the world’s largest arms fair on September 13.

    So under the guise of protecting the community they banned protests against an arms fair. Again, despite the voice of the people it’s the commercial interests that dictate government policy.

    I think the UK is going to implode before the US. In that regard the UK will trump the US. Yay Team GB?

    • Tue, May 15, 2012 - 01:20pm

      #7
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      Bundesbank Confirms German Gold Held By FED, BOE and Banque

    http://www.zerohedge.com/news/bundesbank-confirms-german-gold-held-fed-boe-and-banque-de-france

    Bundesbank Confirms German Gold Held By FED, BOE and Banque De France

    Germany’s Bundesbank confirmed yesterday that the German gold reserves are held overseas by the Federal Reserve, the Bank of England and the Banque de France.

    There has been a lack of clarity and transparency regarding the German gold reserves, as there are with many other nations gold reserves, and this had led politicians and journalists seeking transparency.

    The Bundesbank has previously resisted calls for a more transparent accounting of the German gold reserves.

    So the Bundesbank doesn’t want to be open with the German people about how the German people’s gold holdings. If all is above board then why not?

    The Bundesbank said it has complete confidence in valuations and the security of its gold holdings at other central banks and said that “there is no doubt about the integrity and the reputation of these foreign central banks where the gold is held.”

    So this central bank has complete confidence in the other central banks, even though none of them want to be transparent (ie. honest) about their positions. One question though, how do they know those banks have the gold and that all is well?

    From these central banks, the German Bundesbank annually gets confirmation of the gold holdings in troy ounces as a basis for its accounting,” the Bundesbank’s statement said.

    Uh oh.

    • Tue, May 15, 2012 - 10:31am

      #9
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      jumblies

    jumblies wrote:

    http://www.bbc.co.uk/news/uk-politics-18049764

    [Defence Secretary Philip Hammond] said an elaborate military exercise carried out in London last week was to prepare for any threats that might arise in a dangerous world.

    “I am pleased to say there is no specific threat,” he added.

    http://www.techweekeurope.co.uk/news/emp-bombthreat-77863

    Defence Secretary Phillip Hammond will urge the government to invest into military protection against Electro-Magnetic Pulse (EMP) weapons at a conference in London today.

    According to Hammond, UK’s electronic infrastructure is vulnerable to the possible use of specially developed EMP weapon, which produce a surge of electromagnetic radiation, similar to that which might come from solar activity, or from a nuclear explosion high above the earth. The response to these weapons has to go beyond conventional military means, Hammond will tell the third Electric Infrastructure and Security Council (EIS) Summit

    So EMP weapons are a threat now too? Or is there also no specific threat of those either? What about the threat of killer badgers? Or brain-sucking aliens?

    How about we just stop waging war?

     

    • Mon, May 14, 2012 - 10:18am

      #7
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      Interesting few months ahead

    Meanwhile in the UK the banks are putting up their mortgage rates, while the Bank of England keeps the base rate at 0.5%. The increase in mortgage rates is slowly strangling the property market (which I believe is still in a bubble).

    http://www.thisismoney.co.uk/money/mortgageshome/article-2142779/Mortgage-giant-Halifax-raises-rates-despite-base-rate-freeze.html

    Halifax, Britain’s biggest mortgage lender, yesterday increased its rates, despite the Bank of England keeping the base rate at 0.5 per cent for the 38th month in a row.

    It is the latest in a round of rate hikes that has seen the cost of the best new mortgages rise substantially in just a few months, with around 0.5 per cent added to top deals.

    The bank increased mortgage rates by up to 0.3 percentage points, adding £27 a month to a typical £150,000 loan.

    Something like 70% of mortgages in the UK are on standard variable rate (SVR) which makes them vulnerable to rate changes and therefore these stories are important.

    And the govts response seems to be to try to keep inflating the bubble. This is just one article but there have been many stories along these lines.

    http://www.dailymail.co.uk/news/article-2113704/New-scheme-allow-buyers-buy-500k-homes-just-FIVE-PER-CENT-deposit.html

    Tens of thousands of people could be helped to buy newly-built homes worth up to £500,000 after the Government said it would use £1billion of taxpayers’ money to ensure they get mortgages with just a 5 per cent deposit.

    Prime Minister David Cameron today launched a scheme that is designed to guarantee risky mortgages for all home buyers in a bid to kickstart the flagging property market.

    The move heralds the return of 5 per cent deposits rather than the 20 per cent typically demanded by lenders since the credit crunch. It could save buyers £34,000 on the average house.

    But MPs were warned that the NewBuy scheme, which could allow people to put as little equity as £11,000 into a £228,000 house, could spark another credit crisis.

    So if you’re going to buy a 500K house and put down only 5% deposit then you’re borrowing 450K and to borrow that much using the normal 3.5x salary multiplier you need a salary of approximately £130K. That’s quite a large salary so who are these legions of shoppers? Or perhaps the banks will again increase the multiplier so that those on less can borrow even more?

    Gearing up for the Olympic debacle there are missle launchers put on top of residential buildings. Think about that for a second, potentially shooting down commercial aircraft over a densely populated city. But what’s the rationale for these extreme measures? What threat are we trying to protect against?

    http://www.bbc.co.uk/news/uk-politics-18049764

    [Defence Secretary Philip Hammond] said an elaborate military exercise carried out in London last week was to prepare for any threats that might arise in a dangerous world.

    “I am pleased to say there is no specific threat,” he added.

    My personaly belief is that London will begin to fall after the Olympic games are done and dusted. Then people will be faced with the harsh reality of a large bill that needs paying (both financially and socially).

    http://www.guardian.co.uk/commentisfree/2012/apr/04/price-of-london-olympics

    Host cities routinely underestimate the costs and overstate the benefits of the Games. London is no exception. The city’s bid proclaimed: “Every sector of the economy will benefit from the staging of the Olympic Games.” Originally slated to cost about £2.4bn, Olympic costs jumped to £9.3bn by 2007. […] A Sky Sports investigation included public transport upgrade costs, catapulting the five-ring price tag to £24bn.

    £24bn and rising.

    http://www.guardian.co.uk/sport/2011/aug/12/olympic-village-qatari-ruling-family

    London’s Olympic Village has been sold to the Qatari ruling family’s property company in a deal that leaves UK taxpayers £275m out of pocket.

    Jeremy Hunt, the culture secretary, hailed the sale as a “fantastic deal that will give taxpayers a great return and shows how we are securing a legacy from London’s Games”.

    We’ve just lost £275m and Jeremy Hunt says this is a fantastic return? Where have I heard that name before? Oh yes, that’s right.

    http://www.telegraph.co.uk/news/uknews/leveson-inquiry/9260316/Leveson-Inquiry-Jeremy-Hunt-asked-News-Corp-for-advice-on-phone-hacking-new-emails-show.html

    The same email shows that News Corp was given an “extremely helpful” tip-off by Mr Hunt’s office that he would refer to phone-hacking in a statement to Parliament.

    It was released to the Leveson Inquiry by Rebekah Brooks, the former chief executive of News International, as part of her witness statement to the Inquiry.

    As well as dragging Mr Hunt further into the row which has already claimed the scalp of his special adviser Adam Smith , the email makes uncomfortable reading for David Cameron, as it suggests his response to the phone-hacking scandal was being guided by the owner of the News of the World.

    Yes, I expect civil unrest.

     

    • Mon, May 14, 2012 - 08:56am

      #37
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      QcPrepper wrote:Although

    QcPrepper wrote:

    Although that’s partially true, people think I’m nuts if I tell them the truth.  That I want to trade my home for a few boxes of silver and why.  They look down at me like I’m making the biggest mistake of my life!

    I would keep that side of things quiet if I were you. The last thing you want people to know (or think they know) is that you may have something of real value in your house. Once the general populace starts waking up I think you would find yourself a target pretty quickly.

    QcPrepper wrote:

    Mryuri or others who’ve done the same, what kind of reactions did you get when people found out that you sold your home for precious metals? Do you even try educating people on what’s to come? I have great respect for trailblazers like Chris Martenson and Chris Duane for doing the hard work of educating others.

    I didn’t tell my side of the family though I think my missus told [some of] her side. I guess the problem is that the drop in PM prices over the last 12 months or so makes our decision look somewhat daft. My wife is mostly supportive though we both go through dayily/weekly bouts of doubt. But when this happens I always look at what’s going on and ask myself if anything has gotten better. Since it hasn’t the rationale of our decision still holds. But it’s not easy going against the tide.

    There was an interview Chris did earlier this year, I forget who with, but they were basically saying that if people aren’t ready to even consider looking at our viewpoint then there’s no point trying to convince them. I’m increasingly of that mind and so even though sometimes I bludgeon people with the arguments I think it’s better just to be cool, get ready and enjoy life.

     

    • Tue, May 01, 2012 - 01:21pm

      #1693
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      Government Explained

    A rather humorous look at the system of government we supposedly control…and lays bare how stupid we are for putting up with it

     

    • Tue, May 01, 2012 - 12:09pm

      #3
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      Thanks Mike. I did read some

    Thanks Mike. I did read some blurb about these devices being safer but I guess it’s safe until we find it’s not. I just don’t trust official sources anymore. I read that pdf link and checked the source site (and some credentials of the group members). This helped.

    So I guess it’s as safe as is currently thought.

     

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