Financial topics

[John]

That sounds really awful. The weather is supposed to be warmer
by the end of the week. That may help a little.

[gerald]

interesting ---

Two top ranking American bankers working in senior positions in London have committed suicide in the space of two days.
Gabriel Magee, a 39-year-old JP Morgan bank executive, died early this morning after he jumped 500ft from the top of the bank's European headquarters. His body was discovered on the ninth floor roof, which surrounds the 33-story Canary Wharf skyscraper.
Just two days earlier, on Sunday, fellow American banker, William 'Bill' Broeksmit, 58, was found hanging in his South Kensington home.
Broeksmit - who retired last February - was a former senior manager at Deutsche Bank and had lived in London many years. He started working for the bank in 1996 but left for a period of 7 years before returning in 2008.


http://www.dailymail.co.uk/news/article ... z2rkpMiXuN

[aedens]

Failure to clarify by the Democrats own liberal agenda which is fact, and the bloggers dangerous ability to see ahead
of the curve in my opinion to date.
Stated was bend the curve:
"stand by or neither will I" it was said

Before it was.....
Goal: Regulatory Process
No Global currency as such:
Stiff Conditions:
Long term growth:
March 16, 2006
Official National Debt at that time: 8 trillion USD

Context matters they say.

Mar 24, 2009 By spring Obama's campaign promises will not produce miracles. He also cited the "vulnerable political set up," "lack of unified laws," and "divisions among the elite," which becomes clear in these crisis conditions.


Good review then and the arc of instability thoughts today. I will leave it to the reader to take the time to dig into reality.
http://gdxforum.com/forum/viewtopic.php ... able#p8234

Benjamin Disraeli, then a young novelist, If you establish a democracy, you must in due time reap the fruits of democracy. You will in due season have great impatience of the public burdens, combined in due season with great increase of public expenditure. You will in due season have wars entered into from passion and not from reason; and you will in due season submit to peace ignominiously sought and ignominiously obtained, which will diminish your authority and perhaps endanger your independence.

probable pattern recognition conditions trended

previous thread: Even if you provide accurate data you will be eaten by that tribe. Simply they are what we discussed as the proverbial fatal deceit as before. Hayek knew this as did Keynes since they only differed on the entry point to sort out needed cartels on what you may remember as the cluster nodes which keep these neo pagans today from eating each other.

[aedens]

As equities open in a broad-based decline, precious metals miners show early strength: ABX +4.1%, NG +4.1%, EXK +3.7%, GG +3.7%, IAG +3.3%, SA +2.9%, AG +2.8%, SSRI +3.1%, AUY +2.7%, GOLD +2.5%, NEM +2.3%, MVG +2.3%, SLW +2.2%, PAAS +2.2%, AU +2.1%, KGC +2.2% (Briefing.com).
ETFs: GLD, SLV, GDX, GDXJ, NUGT, IAU, AGQ, PHYS, DUST, SIL, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, GLDX, DZZ, UGLD, DGL, DSLV, DBS, SLVP, GLTR, DGZ, AGOL, DBP, JNUG, DGLD, GLDI, RING, GGGG, SLVO, WITE, SILJ, PSAU, TBAR, JDST, USV, UBG, JJP, RGRP, BLNG.

[John]

Dow futures are down over 160. This should be interesting.
(9:15 am ET)

[aedens]

Dow futures are down over 160. This should be interesting.
(9:15 am ET)

http://www.zerohedge.com/news/2014-01-2 ... per-levels

was watching for who blinks first, dry powder is is no mood speculate in my useless opinion only.

http://danericselliottwaves.blogspot.com/

[gerald]

Who's next? isn't this just great for trust in banking. ( sarcasm ) http://www.infowars.com/bank-run-fears- ... thdrawals/

Bank Run Fears Escalate as Russian Lender Bans Cash Withdrawals
The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store
Economic jitters continue to spread

[aedens]

whos next? -5% meet 30:1, half way there

[John]

Trying to figure out the currency crisis in Turkey, Hungary and
Argentina, as tapering proceeds. Here's from today's EuroIntel
newsletter, which shows that eurozone lending is collapsing:

> This might just be the kind of shock to tip the eurozone into
> deflation. More emerging market currencies came under pressure
> yesterday - a day with a whiff of currency crisis. The Turkish
> lira continued to fall yesterday, and was trading at 3.08/3.09
> against the euro this morning. As we wrote yesterday, we did not
> expect the decision by the Turkish central bank to more than
> double the repo rate to 10% and to raise the overnight lending
> rate from 7.75% to 12% to have much of an effect. Yesterday, the
> South African rand fell by over 2%, and this after the central
> bank raised its repo rate by 50bp to 5.5% .This morning, the rand
> was trading at 15.4 to the euro, compared to 13.6 in November
> before the currency came under pressure. The fall in EM currencies
> and the yen, which was trading at ¥139.7 this morning, has led to
> increases in the euro's real effective exchange rate in December,
> which is now also supported by the euro's renewed strength against
> the dollar, with the exchange rate now well above $1.36.

> What further underlines the fragility of the eurozone - and its
> proneness to deflation - is the weakness in monetary
> conditions. The ECB yesterday published its latest monetary
> developments for the eurozone, which show that M3 growth collapsed
> to 1% in December. Loans to the private sector continued to shrink
> at an accelerated rate. Here is the table:

> [Table]
> yoy % growth / Oct 2013 / Nov 2013 / Dec 2013 / 3m average
> M3 / 1.4 / 1.5 / 1.0 / 1.3
> M1 / 6.5 / 6.5 / 5.8 / 6.3
> Loans to private sector / -2.1 / -2.3 / -2.3 / -2.2
> Loans adjusted* / -1.7 / -1.8 / -2.1 / -1.9

> * adjusted for sales and securitisations

> Furthermore, the annual growth rate of total credit granted to
> eurozone residents came in at -2% after -1.4% in November. If one
> decomposes the credit further, most of the decline was in loans to
> households, including mortgage, while loans to non-financial
> corporation were still contracting in December, at a rate of 3%
> annually, but a little less severe than in November, when the rate
> of contraction was 3.8%.

> We were surprised to read some of the more naïve commentary
> yesterday about how the Turkish central bank's courageous rate
> increase helped stabilise the situation. It now looks to be a huge
> mistake - a massive rate rise that will undoubtedly throw the
> economy into a recession with only a marginal effect on the
> currency. The counterpart of these EM devaluations has been a
> gradual increase (and recently not so gradual any more) in the
> real effective exchange rate of the euro, which adds to the
> domestic deflationary pressures stemming from essentially flat
> money growth and declining credit growth. If you take the baseline
> forecast scenario of the ECB, IMF, OECD, the eurozone may just be
> able to avoid a fall into outright deflation, but only in the
> absence of another shock. A continued increase in the euro's REER
> might constitute such a shock.

John

[vincecate]

We were surprised to read some of the more naïve commentary
yesterday about how the Turkish central bank's courageous rate
increase helped stabilise the situation. It now looks to be a huge
mistake - a massive rate rise that will undoubtedly throw the
economy into a recession with only a marginal effect on the
currency.

I think when you get enought debt and deficit that the central bank has been monetizing at high speed there is no good way out. If rates go up the government deficit gets worse and the currency goes down. If rates don't go up, the speed of money creation goes up and the currency goes down. It is like things have gone too far and they have passed by all the reasonable choices already.