November 2011


11/30 V of Galt: INCOMING !!!

By John Galt November 30, 2011 Live 7 p.m. to 9 p.m. EST TONIGHT: Tonight, phone lines ARE OPEN. Time to commune. Time to think. Final hours are now upon us to prepare. Oh, and yes, do not stand on the wrong side of the fan because the INCOMING smells somewhat raw. To call into the program dial: (877)213-6404 or (812)307-4363. Just click on the banner below to find the various audio players to listen or to participate in the chat room with like minded Americans.


Pssst….Goldman Sachs is soon to be a $50 stock unless……

By John Galt November 30, 2011 – 14:40 ET Someone forgot to tell GS about the TV Party tonight:   Ah, nothing like a little Black Flag to fire up the masses. Then again, these charts are buttgly but they are from 2008! Let’s start with the September 2008 super duper liquidity “we’re going to save the world” bailout period which is an almost perfect duplication of today: (click to enlarge/reduce charts) Impressive? Nah. But if today’s market action parallels this move, which it appears to be doing: Of course what…


11/30 AEP: Citigroup sentences Europe to Lost Decade

By John Galt November 30, 2011 – 13:45 ET Youch. While Ambrose Evans-Pritchard has never appeared “Euro-centric” to this blogger, today’s commentary in the print edition of the U.K. Telegraph sounds like there are sharp lines being drawn across the Atlantic with the interdependency of the Fed, Bank of England, and ECB starting to create a harshness which appears to be exposed in this editorial: Citigroup sentences Europe to Lost Decade From my perspective, Citigroup missed the 2007-2009 debacle so their forecasting leaves, well, uh buttloads to be desired. But this…


Did the ECB and Fed Decide to Abandon Portugal, Ireland, and Greece today?

By John Galt November 30, 2011 – 12:50 ET If I were to offer an unbiased opinion, I would say that it is too early to tell. However, the lack of a vociferous and solid course of action for the EFSF to bail out anything beyond what has been established for the nations of Portugal,Ireland, and Greece versus the abject panic in Berlin and Paris about the collapse of Italy and Spain tells this blogger that indeed, a decision may have been made to limit exposure to the PIG nations and…


11.30 U.S. Market Preview: 2008 Redux

By John Galt November 30, 2011 – 09:00 ET No words are necessary to tell you what is happening next, so I thought I would let the 2008 charts speak for themselves. (Click to enlarge/reduce chart size) Sept 2008 S&P 500: Aug 2008-Dec 2008 S&P 500: Sept 2008 Gold: Notice the spike as gold rallied on the dollar swap liquidity announcement. Aug – Dec 2008 Gold:


11.30 Liquidity Swap Announcement: A Repeat of 2008

By John Galt November 30, 2011 – 08:30 ET From the Federal Reserve website, Press Release on Monetary Policy release from September 18, 2008: Press Release Release Date: September 18, 2008 For release at 3:00 a.m. EDT Today, the Bank of Canada, the Bank of England, the European Central Bank (ECB), the Federal Reserve, the Bank of Japan, and the Swiss National Bank are announcing coordinated measures designed to address the continued elevated pressures in U.S. dollar short-term funding markets. These measures, together with other actions taken in the last few days…


11.30 BREAKING NEWS: World Central Banksters announce another Inflationary Bailout

By John Galt November 30, 2011 – 08:05 ET Breaking news on all the financial media outlets: Global central banks announce interest rate cuts on dollar swaps to boost liquidity. The Federal Reserve plus banks in Canada, Switzerland, Japan, England, and European Central Bank are all participating. Needless to say the pump monkeys are going wild in world equity markets. More information as it becomes available. And yes, gold is going nuts:


Chinese Aircraft Carrier starts second round of Sea Trials

By John Galt November 29, 2011 – 23:15 ET This time however, it is different as the schedule accelerates and includes flight deck testing and exercises which means the Chinese communists are getting serious about deploying this sucker soon enough. From the People’s Daily Online November 30th edition: Aircraft carrier sails from port for new test By  Li Xiaokun and Hu Yinan  (China Daily) BEIJING – China’s aircraft carrier left port on Tuesday for a second round of sea trials, which are likely to include test flights from the refitted vessel. “Carrier-borne aircraft will possibly…


11.29 The European Nightmare Worsens at it reaches Terminal Velocity

By John Galt November 29, 2011 – 22:40 ET As someone who once enjoyed the sport of skydiving in my youth the phrase “terminal velocity” was often misinterpreted by many of my friends to believe it was a term regarding the endangerment of one’s life when jumping out of a perfectly good airplane. However once you achieved the maximum speed during free fall, it was easy enough to control and enjoy the descent unless of course the parachute fails to open. Welcome to the European nightmare as the primary and emergency…


The AMR Bankruptcy is causing a Mini-Municide as AMR backed Municipal Issues Hit

By John Galt November 29, 2011 – 17:40 ET Just when everyone thought the Jefferson County, AL Chapter 9 Bankruptcy filing  would be the last Municide of the year, here comes American Airlines’ parent company, AMR Inc., and their filing  for Chapter 11 bankruptcy protection this morning. From Bloomberg: AMR-Backed Municipal Airport Debt Falls on American Air Parent Bankruptcy By Darrell Preston and Martin Z. Braun – Nov 29, 2011 5:01 PM ET <Excerpted> AMR and American sold tax-exempt securities called special- facilities bonds through airports and municipal authorities to pay…


All but 7 of the NY Fed’s Primary Dealers were downgraded by S&P tonight

By John Galt November 29, 2011 – 17:20 ET All but 7 of the Primary Dealers from the NY Federal Reserve list were downgraded today. Gee, maybe holding AAA crap paper from the U.S. Government isn’t enough to insulate the banksters from even more hurt. Or maybe all parties involved just need to print more money, more bonds, more equities, and call it the largest crap issue in history. All banks in bold and italicized were downgraded today. Bank of Nova Scotia, New York Agency BMO Capital Markets Corp. BNP Paribas…


S&P starts a Ratings Cut Blodobath for the Banks just after the market close

By John Galt November 29, 2011 – 16:55 ET Goldman Sachs HSBC Bank of America Citigroup Merrill Lynch unit of BoA Wells Fargo plus 31 others. More info after the press release is issued in detail via the Standard & Poor’s website. Well, still no press release as of 17:50 but here is Reuter’s version of the story at the link below: S&P criteria change reduces ratings on big banks


11.29.11 V of Galt Doomer Tuesday Edition: Part 1 of 4-Shoelaces

By John Galt November 29, 2011 – 16:50 ET Time to start tying everything together in the first of a four part year end series, which if we are lucky, will complete without the prospects outlined in the show coming true early. The world is about to tilt on its axis and few people, as in less than 3%, are prepared worldwide for the changes about to occur. Pray for more time, but it is running short. Tune into DOOMER TUESDAY at 7 p.m. ET tonight to find out more… NO…


One word for today’s Italian Bond Auctions: Brutal

By John Galt November 29, 2011 – 05:25 ET This is just nasty. Brutal. Horrid. The auction for the 2022 bonds came in with at 7.56% yield and the 2014 auction at 7.89%, both of which are Euro era highs since Italy joined the Union. For Italy and the European Union this is not sustainable and oh, by the way; that’s how the Greek tragedy started. The Italian stock market was not thrilled: This could get interesting as the markets adjust to the new higher borrowing costs in the PIIGS and…


11/29 U.S. Market Preview: After the Window Dressing comes Curtains

By John Galt November 29, 2011 – 05:30 ET The news this morning is simple: The EFSF is hollow and will not work. There is no grand bailout plan for the PIIGS or other European nations. France and Germany still hate each other. Poland has offered to surrender to Germany again this morning. And the United States is being led by cartoon characters. This means the S&P 500 should make another run at 1194, then 1200, and finally 1220 before capitulating once again due to the flow of news from the…


Oops. First Fitch, now Revenge of the S&P

By John Galt November 28, 2011 – 17:20 ET From La Tribune de Francais: D’ici dix jours, le triple A français risque de se retrouver “sous perspective négative” In English: In ten days, the triple A French risk of being “negative outlook” Oops. Basically speaking, the ratings war is on between the least worst of the credit risks, aka, the U.S. and France which means the U.S. and France are unofficially in a pissing match to junkdom. From the article (translated via Google/my interpretation): Threats from other agencies Another source concurrent…


Revenge of the French: FITCH cuts America’s rating to a Negtive Outlook

By John Galt November 28, 2011 – 16:30 ET BOHICA. Just dang. Sucks to be Obama now. And the Bernank. From Fitch (click here to read the full release): Fitch Affirms United States at ‘AAA’; Outlook Revised to Negative   28 Nov 2011 4:15 PM (EST) Fitch Ratings-London/New York-28 November 2011: Fitch Ratings has today affirmed the United States (U.S.) Long-term foreign and local currency Issuer Default Ratings (IDRs) and Fitch-rated U.S. Treasury security ratings at ‘AAA’. Fitch has also simultaneously affirmed the U.S. Country Ceiling at ‘AAA’ and the Short-term…


11.28 from Ambrose Evans-Pritchard: Your Oh Chit Moment

By John Galt November 28, 2011 – 16:20 ET Do you really need a “see I told you so” or would a wake the bleep up do? Ambrose Evans-Pritchard has penned a piece for tomorrow morning’s edition of the U.K. Telegraph which should either put you into Depends or force you to use Cyber-Monday to reinforce your supplies: Europe’s shrinking money supply flashes slump warning Personally, I do not think it is a warning. I think it is Lehmanesque capitulation. Got gold? Silver? Ammo? Read this from the article: “This is…


11.28 V of Galt: Live with Burnt Turkeys, Burnt markets and more

By John Galt November 28, 2011 Live 7 p.m. to 9 p.m. EST TONIGHT: Well, I can now officially call myself a “victim” as my wife caused me great pain this weekend, but I still love her, but in reality, she deserves to be condemned to the same punishment I have for the next month (watching the Bucs). The world news is as doomerific as always if not worse. The economic news sucks. So where can I find something to smile about? I’ll Tebow on it and explain later on during…


Is Retired General Colin Powell Obama’s Uncle Tom?

By John Galt November 28, 2011 – 11:15 ET With the liberal left and establishment globalists speaking in tongues to protect the regime, it was a major disappointment to listen to retired General Colin Powell once again illustrate his penchant for putting race above the good of the nation in a very subtle undertone yet blatant to the experienced observer. From the ABC News’ program, This Week with Christiane Amanpour, via Mediate: Why is this important? Mr. Powell has been consistently color blind to reality since the nomination of President Barrack…


The Pakistan Situation is far more Dire than the U.S. Media is Reporting

By John Galt November 28, 2011 – 08:00 ET The editorial cartoon in this morning’s edition of Pakistan Today tells the tale of woe the U.S. mainstream media will attempt to hide from the masses to prevent any political backlash. The outrage in Pakistan is impossible to miss and it is doubtful that a simple increase in financial aid will pacify the people or government of Pakistan at this time. After years of errors like the attack over the holiday, if it was an error at all, the psychology and relationship…


11.28 U.S. Market Preview: Let the Eurocircus Vapor Rally Begin

By John Galt November 28, 2011 – 07:20 ET After the latest rumor de jour was crushed by facts: IMF Denies Italian Bailout Package Talks The markets do not care. The Eurorumor of the day was enough to juice the futures and Asian markets overnight moving money out of the Forex safe currencies and into speculative plays for window dressing in the equities markets. The big movers were obviously EUR/USD and EUR/JPY with a nice gap in both as highlighted in this hourly chart of the EUR/USD: Look for the rally…


11/27 AEP: Should the Fed save Europe from disaster?

By John Galt November 27, 2011 – 16:15 ET In another not so shocking development in the Cirque de EU, now the Federal Reserve Bank of the United States is being asked to bail out the European Union so the banksters can continue their grand plans for a worldwide political and economic union based on their vision of the future. Last I checked that damned piece of paper under glass in Washington, D.C., there was no obligation of the U.S. to bail out the nations of Europe and vice-verse yet taxpayers…



11.24 AEP: Ireland demands debt relief, warns on EU treaties

By John Galt November 24, 2011 – 12:40 ET If there ever was a “see I told you so” moment, this story defines it. I warned way, way, way back when the Irish bailout was initially discussed, that the assault on Irish sovereignty would create a nationalist backlash against the British banking system and empower those political parties which demand that the people keep their freedoms and endure the pain like Iceland has done. Sein Fein is resurgent as their political clout grows along with some citizens deeply concerned of the…


11.23.11 Greece Wins: The First Euorpean Nation with a 300%+ bond yield this year

By John Galt November 23, 2011 – 14:45 ET Do I really need to offer a snide remark or commentary? Seriously? How about some fireworks to celebrate and congratulate the effort? Yet there are those morons who appear on the “financial news networks” and proclaim that “sure, there’s no problem, the Greeks can pay this off.” There are better odds that we’ll see pictures of Barrack Obama and Michelle Bachmann nude, in bed, at a Motel 6 in Ottumwa, Iowa being leaked to the media. The default wave of the PIIGS…


NY Appeals Court Approves GPS Tracking of Employees: Even during off hours and on vacation!

By John Galt November 23, 2011 – 14:30 ET This astonishing decision just crossed the wires from Reuters: NY appeals court approves GPS tracking of employee What’s next? They have the right to put a black bag over your head and beat you senseless because you were overheard saying something bad about your boss? Perhaps Creedy will oversee your interrogation and get a few hits on your knees and elbows with a steel pipe to beat a confession out of you. From the article: In a 3-2 decision issued on Wednesday,…


11.23 German 10 Year Bund Auction “Technically” Uncovered aka FAIL

By John Galt November 23, 2011 – 05:25 ET According to a breaking story this morning, the German 10 Year Bund auction was technically uncovered which is the same as: With only €3.6 billion purchased of €6 billion offered, I would call that the definition of epic failure. Now that the crisis has migrated into the heart of the Eurozone, watch out for pissed off German bankers taking revenge out on the PIIGS. The yields are creeping up slightly but the Euro has just absolutely collapsed in the past twenty minutes…


11.23 AEP: Spain in race against time to avert bail-out

By John Galt November 23, 2011 – 05:15 ET From Ambrose Evans-Pritchard via the U.K. Telegraph: Spain in race against time to avert bail-out Excerpt: The bank said the double whammy of surging borrowing costs and a slide back into recession together risk inflicting serious damage to Spain’s debt-dynamics, pushing public debt above 86pc of GDP over the next three years. The double whammy is when the banks from the Northern European nations fail to have the ability to survive long enough or remain solvent for a period of time which…


11.23 Market Alert: Where is the “Crash” meat on the Turkey once again?

By John Galt November 22, 2011 – 22:00 ET Just a quick note before I crash for 4 hours: FUGLY. Wow. (ALL CHARTS FROM FOREXPROS.COM…click here to see all of their futures charts) U.S. Futures down hard: Down 13.10 at this posting. But what is scarey is the FOREX futures…. Aussie v. USD: Canadian Dollar v. USD: Hang-Seng Index (down 2.05% at the moment): Stay tuned, this could get super ugly with a holiday in the U.S. on Thursday and massive uncertainty about Europe’s future along with our own banking system.


11.22.11 The Weekly Woo-Woo Report: Because it’s there

By John Galt November 22, 2011 – 10:00 ET Spank me, I’ve been negligent in posting these links and you’ve missed some awesome woo-woo news if you do not listen to the live podcast or the archives. So without further ado, here are the links and/or videos of some of the most insane news stories the MSM missed or you just have to read to believe from the past week or so…… Fired for Shunning the Mark of the Beast Teacher Posts Bail After Arrest For Masturbating In Class Killer Cows…


11.22.11 V of Galt Doomer Tuesday Edition: How the Fed and Obama plan to Seize Complete Control

By John Galt November 22, 2011 – 17:50 ET This is not a show for the squeamish or weak of heart. Tonight I shall outline, on this show and this one only, how the Federal Reserve working with their minions within the administration the grand plan to seize control of the United States banking system far beyond their current reach and insure the two political parties and their economic masters maintain control at the expense of your freedom. The United States has become soft. The world’s bankers know this fact. Time…



Think the Fed doesn’t act like the Mafia? Read this

By John Galt November 22, 2011 – 16:25 ET Think the markets are not rigged? Think the Fed does not “organize” things to suppress precious metals prices using its founding members? Think the Fed and our banksters do not behave like the Mafia? Here’s a tweet I just received, you decide to act ignorant if you’d like after you read the story at the Financial Times: But don’t worry, one of the founding fathers of the Federal Reserve System would never use their new found powers to influence the price of…


FDIC Bank Failure Page Update for failures through 11.18.11

By John Galt November 22, 2011 – 05:30 ET The CalOkie FDIC bank failure page has been updated with a new series of charts as there were only two failures but boy does it smell like a lot more are still in the pipeline despite the government propaganda push. Why else would they have to keep playing those incessantly stupid “put your money in the bank” FDIC P.S.A.’s on almost every radio station day after day? Click on the link to the right of this posting where the economic data pages…


No Picture

11.22 U.S. Market Preview: If there’s rain in Spain, their T-Bills Feel Pain

By John Galt November 23, 2011 – 05:25 ET With this morning’s 6 month T-bill auction providing the highest yields and poorest results in 14 year, all bets are off now as to how much longer the EU can hold this fictitious union together. After yesterday’s poor equity market performance in the U.S. and Europe, odds are of a dead cat bounce today which may even fail during today depending on the news flow. 1220 on the S&P 500 now becomes resistance with 1149-1154 as support to the downside. There is…



Arab Spring Egyptian Edition November Body Count: 33 dead, over 1250 Wounded

By John Galt November 21, 2011 – 17:45 ET So is President Obama happy yet with the body count or shall he come out with another proclamation of just how wonderful the “Arab Spring” movement is in Egyptian cities? Per Reuters (click to read story here), the body count is at 33 with over 1,250 wounded thus far. The Muslim Brotherhood has vowed to “not” participate in any further demonstrations in an attempt to calm the waters before the election period. What is worse though, is that minor, possibly splinter groups…


Greece: Athens Stock Exchange trades below 700, lowest level in 14 years

By John Galt November 21, 2011 – 09:05 ET If you’re looking for a crash, I think it is easy enough to find by simply going to Bloomberg’s home page for the Athens Stock Exchange to see what is spreading: While that is impressive, as the sub 700 level has not been seen since the 1990’s, the five year chart is even more eye opening: If the new Greek leadership does not reach some sort of agreement regarding the demand for blood oaths from the European Union, the withdrawal process from…


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