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The first day of trading saw turnover of 100 tons polyethylene. Iran produces 22 million tons petrochemicals annually and claims to be the #2 producer behind Saudi Arabia. {Oh, this is BIG NEWS,... watch} "No Dollars Please, We Are Iranian"
(ICH Editor's translation) "Discount everything I've said here today if the economy blows up---as I fully-expect it will---from decades of regulatory neglect and the myriad multi-trillion dollar Ponzi-schemes..."
(ICH Editor's translation) "Discount everything I've said here today if the economy blows up---as I fully-expect it will---from decades of regulatory neglect and the myriad multi-trillion dollar Ponzi-schemes..."
This would be a nice looking chart, except those are the percent non-performing assets by month. Yes, by month!
Between 50 and 150 U.S.banks -- as many as one in 57 -- could fail by early 2010, mostly those with no more than a couple billion dollars of assets, Cassidy said.
That’s what the Fed has been doing for decades – accommodating ever-increasing government expenditures by printing the money to pay for them. That’s why the value of the dollar has been plummeting....
They are also well aware that five of our biggest commercial banks hold over $160 trillion of derivatives with very little underlying capital. These derivatives are essentially naked or uncollateralized.
``It looks like the U.S. economy will be slowing at a faster pace than other global economies, clearly dollar- negative,'' said Michael Woolfolk, senior currency strategist at the Bank of New York Mellon in New York.
Mr. Dugan added. “Over a third of the nation’s community banks have commercial real estate concentrations exceeding 300 percent of their capital....
Cutting interest rates from 4.25 to 3.0 in less than two weeks tells the real story. This is what Fed actions say: "We are scared to death about a deflationary debt collapse".
The Federal Reserve decided to lower interest rates by half a percentage point and signaled that the door remains open for more cuts. The Financial markets could begin to unravel.
The Federal Reserve decided to lower interest rates by half a percentage point and signaled that the door remains open for more cuts. This could be a total collapse of the financial system. Could go down more.
The Federal Reserve cut a key interest rate for the second time in just over a week, reducing the federal funds rate by a half point. It signaled that further rate cuts were possible. The Fed action pushed the funds rate to 3%.
So what’s the way out of this welfare-warfare economic vise? As a practical matter, there is no way out because neither welfare-state spending nor warfare-state spending is going to be slashed.
I have been watching a chart of Borrowed Bank Reserves for several weeks. The action is unprecedented.
"The objective of this manipulation is to conceal the mismanagement of the U.S. dollar so that it might retain its function as the world's reserve currency,"
An investigation of the institution, because I think the institution has been behind almost every boom and bust that we've had for many many years. [We already have one: http://tinyurl.com/ynms8y and http://tinyurl.com/2a6v2x.]
If the Fed, Congress, and Central Banks would just stop and think, they would realize they already "did" something. They created the biggest credit bubble in history and now we are on the backside....
Paul blamed the Federal Reserve for the current economic conditions; stock markets worldwide fell Monday after Wall Street declined last week. On his Web site, he said the Fed has taken the United States “into a terrible crisis.”
The Fed chief and Governor Frederic Mishkin unveiled a new strategy, saying they favor greater "insurance'' against the prospect of an economic downturn. That's a break from basing policy on central bank forecasts, which anticipate a
I happen to be one of those people that thinks the US economy (and much of the world economy...) is currently running in an unsustainable fashion with expectations of infinite growth (growth every single year) on a finite planet financed by debt.
The high priestess of US monetarism - a revered figure at the Fed - says the central bank is itself the chief cause of the credit bubble, and now seems stunned as the consequences of its own actions engulf the financial system. "The new group at
Federal Reserve System (FED) board chairman Ben Bernanke has pledged to lower interest rates as needed in order to avoid a possible recession. Another Federal Reserve official stated that the FED will do whatever is necessary to prevent damage to th
Welcome to 2008... 2h 10m until the New York Market closes $835/$860 Low/High. Down with the Fed!
Ron Paul introduces legislation would repeal laws that effectively restrict any form of private coinage from competing with the products of the United States Mint. Write to your representatives and DEMAND that they support this bill.
Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are “clearly rising” and he believes economic growth is “getting close to stall speed.”
[This is the last thing the Fed can do.] Central banks around the world banded together to stem a mounting credit crisis on Wednesday in their first coordinated action since terror attacks shut down U.S. financial markets on September 11, 2001. Th
Many JFK links to get up to speed with. Many new revelations are coming out.
"For starts, is it true you have Ron Paul on this currency," one commentator asked. "Absolutely," NotHaus said, but was unable to explain himself. "Right away, I'm glad they raided you," the commentator said.
An anonymous buyer has paid more than $30 million for a collection of rare U.S. prototype coins, some from the 1700s, that never went into circulation and consists of about 1,000 coins referred to as pattern coins - trial designs that never went into
