Wednesday, September 16, 2009

Davos on the Edge / Market Thread 9.17.2009

  • Rogers: Expect it. (Video)
  • Ron Paul: Second Great Depression (Video)
  • Bernanke: "Recession Is Over" (Depression Has Just Begun)
  • Trilateral Plan to Corner World Gold Market? (H/T DrKrbyLuv)
  • Next stop for Uncle Buck? (Chart)
  • Some more September (1930) news:
  • Ghost Fleet of the Recession = Biggest Maritime Gathering Ever
  • Inflation USA Video
  • Military weapons turned on civilaians at town hall meetings
  • EXCLUSIVE: W.H. collects Web users' data without notice
  • The I word: Gold Rises to Record Settlement Price on Inflation Concern

Economy

Rogers: Expect it. (Video)

Ron Paul: Second Great Depression (Video)


Bernanke: "Recession Is Over" (Depression Has Just Begun)

Bernanke's gambit has failed - we must recognize the mathematical facts, force the bad debt out and clear the system.

Trilateral Plan to Corner World Gold Market? (H/T DrKrbyLuv)

Conclusion

If Fekete is correct, and he has seldom been wrong, then the trap is snapping shut on who will own the gold in 2009. Free-market supplies of gold are drying up, but the price is being kept low as global institutions sop up whatever crumbs are left.


Several very serious implications can be drawn:

The massive amounts of gold leased to bullion banks will ultimately be seized by these same banks as collateral against worthless paper loans made to the Central Banks.

Central Banks (including the Federal Reserve) could well be left to disintegrate in order to give way to a single global central bank controlled and fueled by the bullion banks who have monopoly control over the world's gold.

These superbanks are all closely tied to the goals and membership of the Trilateral Commission, whose members have methodically carried out a monetary policy designed to bring about this eventuality.

For all practical intent, individuals will be frozen out of the gold market at any price.

Indeed, a global totalitarian state may be closer than we think; as the globalist's golden rule states, "He who has the gold, makes the rules."

Next stop for Uncle Buck? (Chart)

Some more September (1930) news:

Some more September (1930) news:


Brokers, businessmen, and even the general public more optimistic; over 75% of brokerage houses now advise buying stocks.

Offering of $334.2M in 2 3/8% one-year Treasury certificates is oversubscribed by almost 4:1.

B. Anderson, Chase Natl. Bank economist, says Fed policy of easy money will not be sustainable when business revives; suggests moderate tightening now to avoid shock of a sudden severe tightening later.

Florida Bondholder's Adjustment Committee calls on owners of defaulted local bonds to accept arbitration with principle that local govt. should “pay to the full extent of its ability to pay” when fairly determined, and no more. Says full payment in many cases impossible due to string of problems in past few years including collapse of real estate boom, bank failures, storms, and Med. fly scare; local feeling is that many bonds were voted in due to high-pressure tactics by outsiders.

Roger W. Babson (economist, made perfectly timed bearish call in fall 1929) optimistic on immediate future, sees possible “stampede of orders” due to underproduction; says it's as evident now that business is bound to improve as it was clear a year ago that it must deteriorate.

The great debate: Bears argue that past month's rally has already discounted the mild improvement in business, and that decline in steel production in past week indicates weakness. Bulls counter that steel decline was due to Labor Day, that August steel and car loading figures show more than seasonal improvement, and that recent retail figures and company outlooks have been improved. On the technical side, bulls believe the recent rally has “definitely broken” the downtrend since last Sept., indicating future support should come in well above the June bottom of 212.

“While the recovery in business will undoubtedly be gradual, and characterized by confusing uncertainties, the fact remains that all indices that have pointed to revival in the past are now existent. As the stock market is usually some months ahead of trade, observers ... think there is a good chance that Wall Street will be the outstanding bright spot of the country during the winter months.”

Chariman Ben sure is a good Great Depression historian

Ghost Fleet of the Recession = Biggest Maritime Gathering Ever

Inflation USA Video


Military weapons turned on civilaians at town hall meetings

On Monday, members of the American Civil Liberties Union spoke with 10News, and they expressed outrage that local law enforcement had the device and that they had brought it to recent town hall meetings in case things got out of hand.

Kevin Keenan, of the ACLU, said, "We think that local law enforcement shouldn't be using military style weaponry like that."

EXCLUSIVE: W.H. collects Web users' data without notice

The White House is collecting and storing comments and videos placed on its social-networking sites such as Facebook, Twitter and YouTube without notifying or asking the consent of the site users, a failure that appears to run counter to President Obama's promise of a transparent government and his pledge to protect privacy on the Internet.

The I word: Gold Rises to Record Settlement Price on Inflation Concern

The worst U.S. recession since the 1930s has probably ended, Federal Reserve Chairman Ben S. Bernanke said yesterday. The dollar slid to its lowest level in almost a year against a basket of six major currencies as the economic outlook reduced demand for the greenback as a haven. Gold futures were 1.3 percent below a record $1,033.90 an ounce set in March 2008.