Financial topics

[Higgenbotham]

I went back to that post and found I hadn't marked 1853 here at that time, or any other time until just recently.

http://gdxforum.com/forum/viewtopic.php ... nce#p21142

On the resonance of 378 S&P points that has governed this bull market, 1853 was 378 points over the September 2012 high of 1475 that occurred the day after the Fed announced QE3.

I'm assuming the reason the market has ping ponged around these levels is that 377 is a fibonacci number and Goldman et al program the fibonacci levels into their algos. I've seen it many times.

An example of this same thing - this week is after the emplyment report on Friday the S&P futures topped out a fibonacci 34 points over the 1853 level at 1887. If it hadn't stopped there, the next level would have been 1906/8 which is 55 points over 1853 and 2 378 point increments over the January 2010 high of 1150.

I noted a change in sentiment also some pages back.

I've seen the sentiment change many times, but only briefly, then flip right back into mania mode when the Fed or ECB or the Japanese gave an indication the party was still on.

This time the change appears to be occurring "for real" might be the right way for me to put it. And, obviously enough, various leaders and Central Banks have explicitly and clearly said the party is over, but it took markets awhile to believe it.

[Higgenbotham]

The news has been all about Russia, Europe and China this week. But later this month, or sometime this year more generally, the loss of faith cycle has the potential to take hold in Japan. The "big one" in my view will be if Japan blows to pieces this year.

This is the Nikkei tonight:

NIKKEI.gif (8.98 KiB) Viewed 2494 times

It's trying to make a 1929 style crash pattern. It's been delayed but is still there.

[aedens]

This is simply a venturi effect as was the 1933 to 1937 period. The Consumer decides and as we see they are again after the Children.
As we correctly noted socialism must be subsidized since it is a bent of mind.

Divide et impera

A principal offspring of the East India Co. was the Fabian Society, founded by Sidney and Beatrice Potter Webb, (whose father, Richard Potter, was a close friend of John Stuart Mill). Beatrice’s sister Georgina married Daniel Meinertzhagen, chairman of Lazard Bros. London; another sister, Thersa, married Sir Alfred Cripps.

John Stuart Mill’s father, James, who was with the East India Co., named his son after John Stuart, head of East India Co. John Stuart Mill was secretary of the East India Co. from 1856 until its dissolution. One of Mill’s most famous disciples, David Ricardo, originated the Theory of Rents, later expounded by the Marxists, and the “bare subsistence” law of wages. His descendant, Rita Ricardo, married to Wesley Campbell, head of the Hoover Institution, now advises President Reagan on social security.

Freudian psychology was developed by the parasitic order to neutralize the incessant efforts of the host to throw off or dislodge the parasite. Any move to dislodge the parasite is denounced as “reactionary”. It is defined and outlawed as an act of aggression, hostility, and alienation.

The primary aim of modern warfare (in accordance with the principle of doublethink, the aim is simultaneously recognized and not recognized by the directing brains of the Party) is to use up the products of the machine without raising the general standard of living .... the essential act of war is destruction, not necessarily of human lives, but of the products of human labor. The two aims of the party are to conquer the whole surface of the earth and to extinguish once and for all the possibility of independent thought.”

Plato was correct on the secular notion only the dead know peace. Never surrender your weapons as a free man since on that day you shall truly die
a fate beyond physical death.

[aedens]

Market is confused, futures is not at the moment.

PBoC did not halt credit card transactions. What really happened is as follows:

1. The bank CITIC (not related to Citi) planned to issue "virtual credit cards" for online payments firms Tencent and Alibaba. The virtual cards are mostly targeted at those without access to conventional credit cards, such as students, the unemployed and low-income families. Instead of showing up at the bank and submit the documents proving creditworthiness, the applicant could simply load up the payment app and apply by clicking a button. The card transactions are likely to be processed outside the UnionPay network, the card cartel founded by major Chinese banks. Such cards are also usable at brick-and-mortar merchants where Tencent or Alibaba's mobile payment apps are accepted (similar to Google Wallet).
2. The PBoC, citing regulatory concerns, halted CITIC's business plan. The main reason is that the approval process may hurt the customers (and the bank's balance sheet) by issuing cards that shouldn't be issued to them in the first place. Another concern is that Tencent & Alibaba's in-store payment systems have not been tested for security or standard-compliance. The central bank did NOT halt credit card transactions; what was "halted" is CITIC's newly planned card venture. NO such virtual cards have been issued at all.
3. It has been widely discussed what is the real motive behind PBoC's move. Some (China International Capital Co.) speculated that CITIC's joint venture with independent payment firms drew ire of other UnionPay cartel members, among them powerful state-controlled TBTF banks such as the ICBC, Bank of China and Agricultural Bank. Others discussed the possibility of knee-jerk crackdown reflex after the central bank's battle against Bitcoin and other online currencies last year.
4. It has been further speculated that insiders were using the information to generate a media smear campaign after secretly opening massive short positions on CITIC, Tencent, and Alibaba's subsidaries. Prior to today's smackdown, the same insiders may have pumped up CITIC's stock by "leaking" the credit card plan (marketed as very sound business venture) to the public, thus attracting muppets for later slaughter.
So no, this story is not about capital control or bank runs ... sorry for the disappointment. Meanwhile, it may be interesting to watch for possible securities fraud allegations. h/t i

Virtual loopholes and the previous shadow repo metal with a pinch of NWO socialist and nazi pissing contest as Vlad gets Morgan Stanley
commodity traders and insane Neo Cons with over a five billion dollar stir it up with a stick narrative as we already warned stupid was
moving up the food chain in the forums. I would hope the offices in the swamps would clean up isle five and get back to work leaving the
normal people alone for a change.

[John]

I've never heard the phrase "deficient safety culture" before.


BREAKING NEWS Friday, March 14, 2014 5:47 AM EDT
Safety Is Lacking at Metro-North, U.S. Review Finds
The Metro-North Railroad has fallen prey to a “deficient safety culture” that prizes on-time performance at the expense of protecting riders and workers, according to a blistering federal review that was ordered after a spate of rail disasters.
A review from the Federal Railroad Administration found that the commuter railroad’s operations control center pressured workers “to rush when responding to signal failures,” and that workers struggled to secure the track time needed to perform essential repairs.
The inquiry, known as Operation Deep Dive, was prompted by the fatal derailment on Dec. 1 of a Hudson line train in the Bronx; it killed four passengers and injured more than 70 others. But the scope of the analysis was far-reaching — no passenger railroad has ever been the subject of such an investigation of its safety culture — and its conclusions were withering for a system that was, less than a year ago, considered one of the nation’s most dependable.
READ MORE »
http://www.nytimes.com/2014/03/14/nyreg ... a_20140314

[aedens]

If you start a club of dandelion fanciers, the Order will send someone who will be quietly helpful, avoid taking the front position, and who will offer to pay the rent of a meeting place or the printing of the minutes. In more radical groups, the Order’s representative will be the first to suggest dynamiting a building, assassinating an official, or other violent action.
The international terrorism of the Communist Party originated in a small club of German and French workingmen in Paris, dedicated to quiet reading and discussion, until Karl Marx joined. It was then converted into a revolutionary group. This one example explains the Order’s determination to allow no group, however insignificant, to remain unmonitored.
The World Order adopted the Hegelian dialectic, the dialectic of materialism, which regards the World as Power, and the World as Reality. It denies all other powers and all other realities. It functions on the principle of thesis, antithesis and a synthesis which results when the thesis and antithesis are thrown against each other for a predetermined outcome.
The notion became established that the state is no longer to be regarded as the importunate poor relation and fobbed off grudgingly with a tithe, but that it is entitle to dispose of the capital and income of all its members at its own free will. Rathenau’s dictum was enacted into law by the far-reaching and multi-billion entitlement programs of Lyndon B. Johnson’s Great Society, when he persuaded Congress to levy against all of the capital and income of the American people placing it at his disposal to achieve World Order political goals, and finally forcing the nation to the verge of bankruptcy. Eustace Mullins

Rathenau wrote “In Days to Come”, 1921,

“No part of the world is now closed to us. No Material tasks are beyond our powers. All the treasures of earth are within our grasp. No thought remains hidden. Every undertaking can be put to the task and realized. The fertilizing distribution of the possessions of the world is our task. We must discover the force that will effect and up and down movement of the masses.”

This is the portion of them that spoil us and the lot of them that rob us.”–ISAIAH 17:14.

http://www.zerohedge.com/news/2014-03-1 ... -go-russia

taxpayers are idiots

[aedens]

Andy states,
The EPA threatened to cancel my city's pumping permit because the city was charging too little for water. The EPA wanted a 300% increase in water rates because they said the low cost encouraged waste. The city agreed to a 100% immediate increase and a 30% increase every year for the next 3.

The EPA slamming the door on small buisinesses from day one. People wonder where did all the US manufactoring go? It was taken out back and shot in the head. For the children. Energy independence? Not on their watch.
How many fake studies and BS research has the EPA trotted out as setteled science? Thier logo should be changed to a boot stomping on faces forever. Just another feral attack dog doing gods work. Catch one of them off duty and talk to them for a few seconds. Its a cult. Look in thier eyes they are in some kind of hypnotic trance. Glassy eyed zombies.

http://www.epa.gov/oig/reports/2014/201 ... P-0128.pdf

The EPA did not provide effective oversight to ensure that purchase card holders and approving action to improve the officials comply with internal control procedures. oversight of purchase Of $152,602 in transactions we sampled, we found cards and is considering $79,254 of prohibited, improper and erroneous other improvements. purchases. Some of the more egregious purchases we identified were meals for an awards recognition ceremony and gym memberships for EPA employees and their families.

To little and we watch our rivers die again and turn back to open sewers as before, to much and they bankrupt even more than we already are.

The Leviathon destoys all.

[John]

Russia may be shifting its Treasury bond holdings out of the Fed and into offshore accounts.



http://blogs.wsj.com/moneybeat/2014/03/ ... -holdings/

[vincecate]

Russia may be shifting its Treasury bond holdings out of the Fed and into offshore accounts.

Why not just getting out of bonds?

[John]

Russia may be shifting its Treasury bond holdings out of the Fed and into offshore accounts.

Why not just getting out of bonds?

Into what? If you looking for safety, there's nothing as safe as Treasuries.