Monday, May 30, 2011
War on RT
The New York Times, NPR and broadcasters across the country are attacking RT for embracing a not-so-mainstream approach to broadcasting the news. Lauren Lyster fires back at allegations about the legitimacy of RT and their guests.
First Amendment Crushed
Several people have been forcibly arrested in Washington for dancing at the Thomas Jefferson Memorial. Among those held were RT America presenter Adam Kokesh, who talked to us live from Washington.
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The Greek Panic has started
From Mish:
Only a few steps separating from Friday to yesterday's mass panic! From early morning to counter the banks there is serious pressure for withdrawals of deposits, especially small amounts. The pressure on banks began last Wednesday, culminating in yesterday's day.
It is significant that Thursday and Friday, banking sources estimate that rose around 1.5 billion euros in total! According to the same month in May estimated the outflow estimated at least 4 billion from 2 billion in April.
The majority of depositors rushed to withdraw for pensioners and small savers and amounts ranging from 2-3000 lifted until 10 -15 000 euros. Motivation in most cases it was the fear that led the country into bankruptcy, deposits frozen even temporarily left without cash, or even lose their savings.
Politicians do not seem to fully understand the risks posed by a widespread panic, not only for the stability of the banking system but for the economy and the country.
Only a few steps separating from Friday to yesterday's mass panic! From early morning to counter the banks there is serious pressure for withdrawals of deposits, especially small amounts. The pressure on banks began last Wednesday, culminating in yesterday's day.
It is significant that Thursday and Friday, banking sources estimate that rose around 1.5 billion euros in total! According to the same month in May estimated the outflow estimated at least 4 billion from 2 billion in April.
The majority of depositors rushed to withdraw for pensioners and small savers and amounts ranging from 2-3000 lifted until 10 -15 000 euros. Motivation in most cases it was the fear that led the country into bankruptcy, deposits frozen even temporarily left without cash, or even lose their savings.
Politicians do not seem to fully understand the risks posed by a widespread panic, not only for the stability of the banking system but for the economy and the country.
The Carry Trade
For those who have heard of the term "The Carry Trade" but were not sure what it meant, bloomberg gives a quick run down in the video below. It explains some of the reasons the Aussie dollar broke parity with the US$ and kept on rising.
click on the pic to go thru to the video
Forex trading Robots
If trading equities with automated High Frequency Trading algorithms wasn't dangerous enough (remember the "flash crash") they are now moving in to the Forex space. So now you can automate the crash of a whole country's currency instead of just one stock, so much more fun, non?
What George Soros would have given for one of these platforms in the good ol' days when he broke the British Pound.
What George Soros would have given for one of these platforms in the good ol' days when he broke the British Pound.
Marc Faber Sees Risk of `Technical Recession' in China
I wish to echo what Marc says in regards to a boom at the big end of town. I visited Bangkok, Thailand in Dec 2010 and went to dinner with some of the movers 'n shakers at a high end nightclub. The car park mainly consisted of AMG Mercs, M3 BMWs and high end Porsches.
by Bloomberg on May 26, 2011 May 25
Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the outlook for China's economy. Faber also discusses the U.S. economy and budget deficit, and his investment strategy. He speaks with Carol Massar on Bloomberg Television's "Street Smart."
by Bloomberg on May 26, 2011 May 25
Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the outlook for China's economy. Faber also discusses the U.S. economy and budget deficit, and his investment strategy. He speaks with Carol Massar on Bloomberg Television's "Street Smart."
click on the photo of Marc Faber to go thru to the inteview
How gold could reach $13,644 an ounce and silver $853?
From ArabianMoney.net:Doyen of the gold bugs Jim Sinclair has set readers of his popular website a challenge to come up with the price per ounce that gold will reach if the precious metal is fully monetized. He says the correct answer is $13,644.
Mr Sinclair explains his thinking: ‘Because gold is held by many central banks, once as a reserve currency but now as an inventory currency, it functions as a swing asset to balance the International Balance sheet of the US. Central banks are sellers of dollars but still hold, by default, large dollar inventories......read on
Steve Keen: Will there be a double dip in the USA?
Interesting video from Steve Keen, a controversial Australian economist, whom I had the pleasure of meeting at conference dinner several months ago.
Bill Murphy - why GATA believes the gold and silver markets are being manipulated
In this video, Bill Murphy, chairman of the Gold Anti-Trust Action Committee (GATA), discusses why GATA was formed and some of its recent activities. Murphy also discusses why GATA believes the gold and silver markets are being manipulated.
Murphy also talks about the problems afflicting the world economy – and in particular, the US economy – and examines what the prospects are for gold and silver returning to some countries as official currencies.
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