Steve Netwriter Posted July 29, 2008 Report Share Posted July 29, 2008 "Where is the safest place to put your money in the current financial climate?" on the NZ Herald: http://dynamic.nzherald.co.nz/poll/pub/pol...F67C02CD4F9F10F This will be tricky for you I bet. Can anyone spot the missing option ? Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted July 29, 2008 Report Share Posted July 29, 2008 im getting fed up of this game Link Out of Sight, Out of Mind I chronicle all of this because it’s imperative that regular hard-working folks understand what is happening to the value of their money. My subscribers are reading about prudent courses of action to protect themselves from the ill effects of the imposition of this nefarious and undeclared monetary policy. While it’s true that obfuscation has brought us to this point and many may think that more-of-the same can continue indefinitely – I offer you this: CARSON CITY, Nev. (AP) - The 28 branches of 1st National Bank of Nevada and First Heritage Bank, operating in Nevada, Arizona and California, were closed Friday by federal regulators. The banks, owned by Scottsdale, Ariz.-based First National Bank Holding Co., were scheduled to reopen on Monday as Mutual of Omaha Bank branches, the Federal Deposit Insurance Corp. said. The FDIC said the takeover of the failed banks was the least costly resolution and all depositors - including those with funds in excess of FDIC insurance limits - will switch to Mutual of Omaha with "the full amount of their deposits."….. This negotiated deal clearly took days or weeks to put together. In another glowing example of “transparency” on the part of monetary regulators, it was announced to the world at 10:30 p.m. last Friday night. So, we can all see – CLEARLY – things really are changing. Can you afford to not be protected? Link to comment Share on other sites More sharing options...
romans holiday Posted July 29, 2008 Report Share Posted July 29, 2008 "Where is the safest place to put your money in the current financial climate?" on the NZ Herald: http://dynamic.nzherald.co.nz/poll/pub/pol...F67C02CD4F9F10F This will be tricky for you I bet. Can anyone spot the missing option ? Errr... none of the above? Look how high the bank column is ...with a looming currency crisis and banking problems. It will only take a few more bankruptcies to see all these depositors get nervous and start to run to the safest of havens. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 29, 2008 Report Share Posted July 29, 2008 When in doubt where to post................. Bob Moriarty The Fannie and Freddie Disaster *AUDIO* http://www.howestreet.com/audio/moriarty28072008.mp3 from: http://www.howestreet.com/audiovideo/index...mediaplayer/910 Bob makes it crystal clear - the bailout of Fannie and Freddie means the end of the U$D. The Hurricane flag is posted. Note "end of" not "falling". Link to comment Share on other sites More sharing options...
romans holiday Posted July 29, 2008 Report Share Posted July 29, 2008 When in doubt where to post................. Bob Moriarty The Fannie and Freddie Disaster *AUDIO* http://www.howestreet.com/audio/moriarty28072008.mp3 from: http://www.howestreet.com/audiovideo/index...mediaplayer/910 Bob makes it crystal clear - the bailout of Fannie and Freddie means the end of the U$D. The Hurricane flag is posted. Note "end of" not "falling". I'm gonna go join Jim in China!! Bill Bonner is not a bad listen also. http://www.howestreet.com/audiovideo/index...mediaplayer/291 Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 29, 2008 Report Share Posted July 29, 2008 Was that the first time someone has said "end of the world's reserve currency" in a podcast like that ? Link to comment Share on other sites More sharing options...
romans holiday Posted July 29, 2008 Report Share Posted July 29, 2008 Was that the first time someone has said "end of the world's reserve currency" in a podcast like that ? Perhaps Bill Bonner beat him to it by three days. http://www.howestreet.com/audiovideo/index...mediaplayer/291 This guy is definitely worth a listen. "Crazy in California" should be titled "Scary in California." Of the 6.84 trillion in bank deposits... the total cash on hand in banks is 273 billion. http://www.howestreet.com/audiovideo/index...mediaplayer/907 Link to comment Share on other sites More sharing options...
Bobsta Posted July 29, 2008 Report Share Posted July 29, 2008 Shopping time? Currently $916/oz. Silver down at $17.09/oz. Link to comment Share on other sites More sharing options...
MattFC Posted July 29, 2008 Report Share Posted July 29, 2008 Shopping time? Currently $916/oz. Silver down at $17.09/oz. indeed.. picked a stash at 914.75 on goldmoney, these 2:45-3:30 sessions have been most productive as of late Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted July 29, 2008 Report Share Posted July 29, 2008 Shopping time? Currently $916/oz. Silver down at $17.09/oz. yep, this news must be good for the dollar S&P: Home Prices Drop by Record 15.8 Pct. in May- AP A closely watched housing index shows home prices fell by the steepest rate ever in May, as the housing slump continued to deepen nationwide. Link to comment Share on other sites More sharing options...
Bobsta Posted July 29, 2008 Report Share Posted July 29, 2008 yep, this news must be good for the dollar I just love Bloomberg... Dollar Rises Versus Euro as U.S. Stocks Increase, Crude Oil Prices Decline The dollar rose against the euro for the first time in three days as U.S. stocks increased and crude oil prices dropped, reducing concern the world's largest economy may fall into a recession. Link to comment Share on other sites More sharing options...
Bobsta Posted July 29, 2008 Report Share Posted July 29, 2008 Just seen this... -------------- ECB-Gold reserves drop by 0.6 bln euros in week 29 Jul 2008 - 14:08 FRANKFURT, July 29 (Reuters) - Gold and gold receivables held by euro zone central banks fell by 0.6 billion euros to 208.37 billion euros in the week ending July 25, the European Central Bank said on Tuesday. Net foreign exchange reserves in the Eurosystem of central banks rose by 0.6 billion euros to 166.1 billion euros, the ECB said in its regular weekly consolidated financial statement. Gold holdings fell because of sales by two euro zone central banks, which were consistent with the 2004 Central Bank Gold Agreement, the ECB said. For details of the report, please see the website: http://www.ecb.int/press/pr/wfs/2008/html/fs080729.en.html ((Frankfurt Newsroom +49 69 756525, frankfurt.newsroom@reuters.com)) -------------- I wonder what they're spending it on?! Bail-outs?! Link to comment Share on other sites More sharing options...
safebetter Posted July 29, 2008 Report Share Posted July 29, 2008 America's house price time bomb More and more in the news at the moment informing the masses that we ain't out of the woods yet and it's gonna get worse! "The losses for the financial system from people walking away could be of the order of one trillion dollars when the entire capital of the US banking system is only $1.3 trillion. "You could have most of the US banking system wiped out, so this is a total disaster." SafeBetter Link to comment Share on other sites More sharing options...
Bobsta Posted July 29, 2008 Report Share Posted July 29, 2008 More and more in the news at the moment informing the masses that we ain't out of the woods yet and it's gonna get worse! "You could have most of the US banking system wiped out, so this is a total disaster." But at the same time you get this sort of bizarre reporting... Sentiment was boosted by Merrill Lynch's steps to clean up its balance sheet and by a further fall in the price of crude. "Merrill Lynch kitchen-sinking its bad news has given banks a fillip in the U.S., which has also read across to the UK," said Richard Hunter, head of UK equities at Hargreaves Lansdown. "Also, this afternoon there has been weakness in the oil price, helping on both sides of the pond," he said. So, let me get this straight... issuing LOTS of bad news all at once is somehow now GOOD?!?! (from ADVFN/Thomson Financial in an email - no link) Link to comment Share on other sites More sharing options...
safebetter Posted July 29, 2008 Report Share Posted July 29, 2008 Is there to be a return to a 'Gold Standard'? UK mulls mortgage market options Look right at the bottom of the article: "This is one of a number of other options outlined in the interim report, which also includes industry-led initiatives to facilitate the development of a "gold-standard" for mortgage-backed securities." Also from Jim Sinclair: By turning mortgages into securities, lenders created vast distances between homeowners and their mortgage holders, who can be anywhere in the world such as Australia. US banks have written down $450 billion in bad housing loans. The revelation from NAB means that they will now certainly need to take provisions to $1,000 billion. Write-downs of $1,300 billion and perhaps even more are in the cards. That guarantees the USDX at .6200 and more likely at .5200. That guarantees gold to reach at least $1650 much sooner than I anticipated. This strongly suggests that my estimate of $1650 is significantly below the price of gold coming soon. This opens the probability that a modernized and revitalized Federal Reserve Gold certificate ratio tied to the M3 will evolve into the monetary system. The greatest economic crime ever committed is OTC derivatives. Those that proffered these will have killed more people than most wars. This is it and it is NOW! SafeBetter Link to comment Share on other sites More sharing options...
kernull Posted July 29, 2008 Report Share Posted July 29, 2008 Shopping time? Currently $916/oz. Silver down at $17.09/oz. i am currently shopping for short term movements, we should osciliate for a while until oil starts to test 130 level, which should be this week, maximum until monday, I am not expecting it go lower than 910 Link to comment Share on other sites More sharing options...
TinBrick Posted July 29, 2008 Report Share Posted July 29, 2008 So, let me get this straight... issuing LOTS of bad news all at once is somehow now GOOD?!?! It is, if (and it's a big if) you can persuade the market that it's all the bad news and everything's now out in the open. Markets hate uncertainty. Personally, I'm not persuaded! Link to comment Share on other sites More sharing options...
CharlieSays Posted July 29, 2008 Report Share Posted July 29, 2008 Thanks for that, Ive got my pension with Friendless and provident and meeting/talking to the pension advisor later today/tomorrow so i will ask him about this, having said taht the idiot still sent me an spreadsheet saying i should be exposed 20% to UK property, 40% UK Equities and others, just to be a bit mad and spread risk 5% Pacific/emerging markets. Still that might just be the line he is told to peddle, i will update if he has anything interesting to say. @Ziknit re Friends Provident PM fund, Spoke to pension advisor, yep Friends Provident do offer a PM fund, but its aimed at expats rather than UK based. Why this should make a difference i dont know. The other thing i found was that there was a restriction on the initial investment $10k, so drip feeding makes this pretty difficult (at least for me, or until US$ tanks), also there is a 5% entry fee, or penalties for withdrawing before 5 years. If you find anything different let me know. Additionally, I asked about any sort of commodity play and there was none. so we had a long discussion about commodity/equity cycles at this point, I asked about their method of evauating risk profile (see above equities + property exposure) and he said it was based on a model, as if that explained it all, followed by a discussion about the parameters of said model, which he didnt know and when asked about timespan of model data, commodity dependence and demographics. Think will use pension as a way to get exposure to emerging markets for the time being. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 29, 2008 Report Share Posted July 29, 2008 FRANKFURT, July 29 (Reuters) - Gold and gold receivables held by euro zone central banks fell by 0.6 billion euros to 208.37 billion euros in the week ending July 25, the European Central Bank said on Tuesday. I'm waiting to see what Jim says about this. Is it real gold sales or just accounting tricks ? Link to comment Share on other sites More sharing options...
Compounded Posted July 29, 2008 Report Share Posted July 29, 2008 I have moved the pension to Goldmoney, it took weeks to do, I initially applied 2 weeks before Bear Stearns weekend, the delays turned out to be fortunate as I eventually transferred near the May 08 bottom. It does not offer silver which is a shame. http://www.goldmoney.com/en/gold-sipp.html Link to comment Share on other sites More sharing options...
sylvester Posted July 29, 2008 Report Share Posted July 29, 2008 America's house price time bomb More and more in the news at the moment informing the masses that we ain't out of the woods yet and it's gonna get worse! "The losses for the financial system from people walking away could be of the order of one trillion dollars when the entire capital of the US banking system is only $1.3 trillion. "You could have most of the US banking system wiped out, so this is a total disaster." I noticed in the artical it never mentions what the intervention planned by Bush is. It just basically reads as a 'telling off' to any readers who were thinking of posting some jingle mail. Although it is bad not to honour your debt / promise, I have no sympathy for the banks or government as surely this is what the free market is all about. Profit before principle! Link to comment Share on other sites More sharing options...
Bobsta Posted July 29, 2008 Report Share Posted July 29, 2008 I'm waiting to see what Jim says about this. Is it real gold sales or just accounting tricks ? No commentary yet but Dan Norcini mentions it in his daily update. He also says Gold's support looks "tenuous" at this level which, frankly, is a bit of a worry. I don't think I intend taking any action, other than not checking the price so frequently. Link to comment Share on other sites More sharing options...
headmelter Posted July 29, 2008 Report Share Posted July 29, 2008 No commentary yet but Dan Norcini mentions it in his daily update. He also says Gold's support looks "tenuous" at this level which, frankly, is a bit of a worry. I don't think I intend taking any action, other than not checking the price so frequently. I've a funny feeling we might dip into the $880's-$890's one more time. Anyone else feel the same? Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 29, 2008 Report Share Posted July 29, 2008 No commentary yet but Dan Norcini mentions it in his daily update. He also says Gold's support looks "tenuous" at this level which, frankly, is a bit of a worry. I don't think I intend taking any action, other than not checking the price so frequently. Well with the US$ in such a strong position, and with oil down, and with such good news everywhere, I guess it's not surprising that the short-term technical view from Dan is a bit questioning. /end sarcasm Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 29, 2008 Report Share Posted July 29, 2008 I've a funny feeling we might dip into the $880's-$890's one more time. Anyone else feel the same? How about some sympathy for the guy with Yen. I'm not seeing low prices at all Despite my requests to the PPT It's possible I suppose, but there must be quite strong support at $910 I'm starting to get the impression that negative thinking is growing again. Last time that happened it started up Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now