Wednesday, March 21, 2012

A history lesson from the other side

on Mar 21, 2012

India turns lender from borrower

on Mar 19, 2012

National Defense Resources Preparedness Order - It's All Over Now

on Mar 20, 2012 The Manning Report

Even George Bush Jnr, bad as he was he never granted himself the rights of a King

Capital Account - Gerald Celente on Jihadi Bankers and the expulsion of "Osama Bin Bernanke" from Temple U-S-S-A

You have to watch this episode of Capital Account, this is Gerald's greatest blowout ever, watch his hands only someone with Italian heritage can tell a story with his voice and hands in such a coordinated manner. By the way my favourite colour is now red ;-)

on Mar 20, 2012

Br. JohnF - Silver and Oil Update

on Mar 19, 2012

Credit default swaps trader Ben Heller quits trading CDS

A complementary story to the MBS issues discussed in the movie Margin Call. Thanks to the Silver Doctors for the link

on Mar 16, 2012

Top CDS trader Ben Heller tells Reuters blogger Felix Salmon that credit default swaps are "fatally flawed.

Mike Maloney & Jim Rogers - Is Gold Money?

whygoldandsilver on Mar 20, 2012

Movie Review - Margin Call

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I went to watch the movie Margin Call with the ABC Bullion team last night, totally enjoyed the movie and would recommend it to any one who has an interest in economics and investing. It doesn't take much prior knowledge, but those with a working understand of securities will get the most out of it.

A couple of critiques I will make though. They mention selling MBS's without explaining what the hell they are (maybe that got edited out) or mentioning that the only reason they could be sold in the first place was they were rated AAA by one of the holy trinity of US rating agencies.

Also I was stunned by the lack of greed displayed by the main characters when they realized  that the company and many of their customers would come close to crashing when the US markets opened in several hours time. Why weren't they calling their London traders (their City trading desk should have been still open) and buying as many puts on their own and their clients stock, and shorting the MBS market they were about to annihilate. Even if the company wasn't up for it the individuals should have been in with both feet.

I particularly enjoyed the "security guard with box" scenes when staff were retrenched, I have survived over 10 "box days" now in the last 25 years. It becomes a sort of corporate Darwinian selection after awhile, with your work team being whittled down to those with the sharpest minds and tongues.

Tips for young players dodging the box:
  1. Don't suck up to your boss or be a yes person, no one liked those who did it at school and no one in the office does either. Your team will stab you in the back and your boss will have no respect for you, which will make you cannon fodder come The Box.
  2. Speak your mind and be brutally honest to all, shout and passionately convey your thoughts, make people remember you (this also reduces your stress level). Boxes like people who's name they can't remember.
  3. Have back up money saved and if possible other skills and career options just in case your boss is a complete idiot and retrenches you even though you are a fricken genius.

Gerald Celente on Gold, Oil and Inflation

Gerald Celente discusses money printing and it resultant price affect on Gold, Oil and commodities with Eric King of King World News. Listen here

Capital Account - Has the Apple of Wisdom fallen far from the Tree?

CapitalAccount on Mar 19, 2012

The MSM Drumbeat For War With Iran Is Contributing To The High Price Of Gas

PressTVGlobalNews on Mar 20, 2012

Fresh reports say the US National Security Agency is building what is believed to be the biggest and most covert spy center in the state of Utah.

The center will reportedly monitor electronic communications all over the world.

Keiser Report: Guns vs Gadgets

RussiaToday on Mar 20, 2012

Follow Max Keiser on Twitter:

In this episode, Max Keiser and co-host, Stacy Herbert, discuss 'anti-human, bigoted algos' buying Apple shares; new technology versus old-fashioned gunpowder and the American economy as a lava lamp. In the second half of the show Max talks to musician Tomas Kalnoky of Streetlight Manifesto about wanting to be the first band to sell no records while the RIAA and record industry executives crash and burn with their dying model.

Ellis Martin Report with Jim Sinclair and the Nuclear Economic Trigger

From Wikipedia

The Society for Worldwide Interbank Financial Telecommunication ("SWIFT") operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions. SWIFT also markets software and services to financial institutions, much of it for use on the SWIFTNet Network, and ISO 9362 bank identifier codes (BICs) are popularly known as "SWIFT codes".

The majority of international interbank messages use the SWIFT network. As of September 2010, SWIFT linked more than 9,000 financial institutions in 209 countries and territories, who were exchanging an average of over 15 million messages per day (compared to an average of 2.4 million daily messages in 1995).[1] SWIFT transports financial messages in a highly secure way, but does not hold accounts for its members and does not perform any form of clearing or settlement.

SWIFT does not facilitate funds transfer, rather, it sends payment orders, which must be settled via correspondent accounts that the institutions have with each other. Each financial institution, to exchange banking transactions, must have a banking relationship by either being a bank or affiliating itself with one (or more) so as to enjoy those particular business features.

opportunityshow on Mar 19, 2012