by John Galt April 8, 2012 20:50 ET And here we all were expecting gold to become a worthless relic and tanking to $100 per ounce if we believed every talking head in the regime, the Fed, and various Bubblevisions. Ambrose Evans-Pritchard unloads a power salvo in tonight’s commentary in the U.K. Telegraph: Gold crash on Fed tightening and euro salvation looks premature (Click on the title above to read the column in full) Just when everyone assumed the Fed had a clue in...
by John Galt April 8, 2012 20:00 ET A quick heads up: US equity futures are averaging a decline between 120-140 Dow points at the open, 15-18 S&P 500 points. (Quotes from FINVIZ.com) Gold is also anticipating a weak US open but not with the type of dramatic move one would expect: (Quote from FOREXPROS.com) Depending on how China and Europe behave, tomorrow could be very interesting or more than likely a sharp opening decline followed by a weak rally recovering half of...
by John Galt April 8, 2012 11:00 ET The anticipation building up for the open of U.S. futures tonight is highlighted by the action in the Israeli and Arab markets which were open for trading today. In lieu of the non-farm payroll data, the theory is that there will be a decent sized plunge at the open of the US markets. The Saudi market probably illustrates the pattern the S&P 500 and DJIA will probably take; a sharp dive at the open with an...
by John Galt April 4, 2012 23:00 ET The United States Equity Markets declined today. Now that Mr. Obvious has spoken… Gang, I’ll be the first to admit that technical analysis of THESE markets is an insane, stupid, waste of time. When the Federal Reserve is buying, logic, fundamentals, and technical analysis goes out the window. With that being established, Mr. Bernanke said the following in the FOMC minutes released this week: Now that the fun and games are over with, let’s address...
by John Galt April 4, 2012 19:20 ET On December 17, 2010, a previously unknown street vendor named Mohamed Bouazizi walked out into the streets of Tunis and in protest of continued government interference and overbearing policies, set himself on fire. This act of self immolation set the entire Arab world on fire, causing romantic Western political imbeciles to think that this action and the political protests which followed were the acts of Islamic versions of George Washington and deserved the unqualified support...
by John Galt April 1, 2012 12:00 ET In the nation of Greece, poverty and misery rules the day as the ideals of Eurosocialism when implemented to completion take hold. The attempt to create a hybrid version of capitalism with Marxist overtones has never been successful and there is no reason to believe that success is just around the corner as a desperate population begins to realize the failure of the globalists which have sold the nation out to participate in an international...
by John Galt March 30, 2012 05:00 ET The world is on fire, the banking system in total confusion and preparing for another great consolidation, Europe is teetering, and what does the Federal Reserve Chairman, aka “America’s Financial Academic,” decide to speak on during some collegiate lecture series? The Federal Reserve and the Financial Crisis (click on the title to read the story in full) Any of my readers can click on the link above to watch the series or read the program...
by John Galt March 28, 2012 22:25 ET That cured nation saved from the disaster and end of the world via a Eurozone banking collapse is not back in the international news, but since I’ve been one of the bloggers covering the story for ages now, perhaps a reminder from tonight’s edition of the Athens News is in order: Banks continue to bleed deposits: ECB (click on the title to read the story in full) This excerpt from the story says it all: Firms...
by John Galt March 27, 2012 23:00 ET The saga of the Eurozone is far from over and the latest piece from Ambrose Evans-Pritchard in the U.K. Telegraph tonight says it all: Spain to slash spending as economy slumps back into recession (click on the title above to read the story in full) As the world thinks the Greek disaster is behind them, the lurking nightmares of Hungary, Ireland, Portugal, and Spain along with Cyprus and other Balkan states hangs over the heads...
by John Galt March 27, 2012 22:45 ET As has been the habit of the U.S. banksters, the sheep have been herded into another bubble which is about to implode and shear them once again. The media spend the majority of 2011 incessantly attacking Meredith Whitney and her prediction of a municipal bond catastrophe without even taking a moment to analyze the underlying condition of the various locations at risk. Jefferson County, Alabama proved to be the largest implosion in history but it would...
by John Galt March 23, 2012 17:20 ET But do not worry! He is a Democrat and FOO (Friend of Obama) so he can not go to jail, he can pass go, and can find a job in politics or banksterism to fleece the stupid sheeple who give him money again. Essentially speaking, based on the breaking news via Bloomberg, this guy is Madoff without the rape whistle so you had no warning this was coming. From the article breaking at Bloomberg: Jon S....
by John Galt March 18, 2012 23:00 ET The stories about Montana, Utah, and Virginia striking their own gold “commemorative” coinage sent a shudder throughout the U.S. fiatocracy as they were indicating a lack of faith in the old fiat currency, the U.S. Dollar. For a city in Germany to indicate a lack of faith in the Euro and the ineptitude of the Masters of the Universe in Berlin and Brussels however is an entirely different matter! From Der Spiegel on March 16, 2012:...
by John Galt March 18, 2012 18:30 ET Well I guess it would be nice If I could touch your body I know not everybody Has got a body like you But I’ve got to think twice Before I give my heart away And I know all the games you play Because I play them too Oh but I Need some time off from that emotion Time to pick my heart up off the floor And when that love comes down Without devotion Well...
by John Galt March 18, 2012 16:00 ET The music is fading, the crescendo of crisis overrated according to some, the people of Athens are now found digging through garbage cans fighting their former pets for meals, all while the European Union chieftains and banking elite enjoy Chateaubriand and caviar in celebration of another hollow victory. The bondholders who refused to comply with the Greek default order are going to be paid a pittance compared to the thievery of the banksters and average citizens...
by John Galt March 18, 2012 11:30 ET Angela Merkel’s financial Wehrmacht might be rolling through European second tier economies without opposition but a gaping wound that is over fifty years old could be re-opened thanks to the arrogance of the German banksters. From the Athens News yesterday: Issue of war reparations still open (click on the title above to access article in full) From the article above: Deputy Foreign Minister Dimitris Dollis on Friday reiterated that the “issue of German war reparations remains...
by John Galt March 13, 2012 13:00 ET As many of my readers and listeners are aware, I have been tracking the deterioration of the situation on the island of Cyprus for some time, highlighted by the recent possibility of that island becoming the center of a new conflict between Greece and Turkey. On March 4, 2012 the Turkish Prime Minister added to the pyre by stating that the Turkish portion of Cyprus should be annexed by Turkey to: “if ongoing talks between Turkish...
by John Galt March 11, 2012 20:35 ET Tonight’s entry from Ambrose Evans-Pritchard via the U.K. Telegraph sums up the fears and reality of what happens before this year is out unless ALL of the world’s central banksters elect to engage their printing presses into hyperdrive thus, hyperinflation: Global liquidity peak spells trouble for late 2012 (click on the title above to access article in full) Really, nothing else needs to be added beyond saying read the article, understand the implications, and prepare...
by John Galt March 9, 2012 14:52 ET ISDA determines Credit Event has Occurred Boom. CDS insanity begins. Statement via from the ISDA: ISDA EMEA Determinations Committee Accepts Question Related to a Potential Hellenic Republic Credit Event March 9, 2012 NEWS RELEASE For Immediate Release ISDA EMEA Determinations Committee Accepts Question Related to a Potential Hellenic Republic Credit Event LONDON, March 9, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA), as secretary to the Determinations Committees (the DCs), today announced that a...
by John Galt March 8, 2012 22:15 ET The problem with a Ponzi scheme is that eventually someone gets angry enough to see the con for what it is and asks where the money really is. Welcome to the PECB, the Ponzi European Central Bank. Ambrose Evans-Pritchard has addressed this issue in his column tonight in the U.K. Telegraph: Legal skull-duggery in Greece may doom Portugal (click on the title above to access article in full) As the Greece insolvency crisis continues despite the...
by John Galt March 8, 2012 05:30 ET The myth that the great shell game known as the Greek bond swap where worthless paper is exchanged for lower quality even more worthless paper so Greece can default on those bonds at a later date has been exposed in one chart showing the market’s faith in the viability of the Greek nation: (chart from Bloomberg.com) The yield on the one year Greek Government bond has topped 1,135%. This means that no matter what commitments are...
by John Galt March 7, 2012 05:45 ET Generally speaking, there is not much reality left in the equity or financial markets as more than half of the U.S. public believes they are rigged, and rightfully so I might add, while the government manipulates the markets to use as an indicator of national economic health. Unfortunately, today is one of those day s where the technical condition does not matter, the economic weakness does not matter, and the news of the day actually does...
by John Galt March 5, 2012 17:15 ET JUST when one thinks the United States political elites can not act any stupider than Senator John McCain’s call for another undeclared war, this time on Syria, the news breaks late this afternoon about the start of a trade war with China: US House Passes China Tariff Measure (click on the title above to access article in full from NASDAQ.com) There are those that live on the river De-Nial who think that this act will not...
by John Galt March 5, 2012 17:40 ET La Revolución ha comenzado The Revolution has begun. A simple, often controversial phrase uttered throughout history in Latin nation as the war against the oppressors start, or worse, the war against a system perceived as unjust by those wishing to install a new more evil system. The story from Spain tonight is one of defiance, the proverbial threat against the banksters that they have been living in fear of hearing since the beginning of the Greek...
by John Galt March 4, 2012 21:30 ET There is no doubt in my mind now. Technical issues do not matter. IBM or GS losing 30% does not matter. Oil at $20,000 per barrel, does not matter. The U.S. Dow Jones Industrial Average is heading for 15,000 if not higher as the one bit of news holding the market back was broken via Reuters tonight: Libyan stock exchange says to re-open on March 15 (click on the title above to access article in full)...
by John Galt March 4, 2012 01:15 ET While American citizens bitch and moan over $4 gasoline, the Europeans have found that Environmentalist Lunacy and Socialism (also known as ELS or Obamasitis) is about to create shortages at not just the breakfast table but across the entire European Union and United Kingdom, but in the very goods they take for granted to bake or flavor other foods. The European Egg Processors Association posted the first warning shot by the UBP (Union for Belgian Egg...
by John Galt March 2, 2012 05:30 ET The world is on fire and guess what? Gold is under $2000 per ounce. Thus the banksters, powers that be, political elites, and so-called capitalists have been able to suppress the one real store of value to the point where ‘they’ can do guess what? Hoard. Steal. Tax. And Acquire. The question arises if gold must be kept under its inflation adjusted levels from the 1970 to 1981 explosion and bull run, why? Why not let...
by John Galt February 28, 2012 19:00 ET Can I get an “Oops” and an “AMEN” from the audience please? Irish EU treaty vote threatens chaos Ambrose Evans-Pritchard has elected to defy the powers that be in the European Union again and post an inflammatory but accurate commentary in tonight’s U.K. Telegraph (Click on the title above to read it in full) about what happens when representative democracy meets the agenda of the banksters who wish to enslave populations without proper representation. Excerpted: All...
by John Galt February 28, 2012 16:10 ET Is any commentary really necessary? Now that the two gratuitous size queen photos are out of the way, here is what the United States Department of the Treasury, Propaganda Division, wants you to see: And what they don’t want you to see: Carry on. And buy more Gold and Silver. I’m just sayin’.
by John Galt February 28, 2012 05:30 ET The nation of Greece is now officially in default according to Standard and Poor’s (click here to read the story in full). The Troika and German expansionist government has declared that they would support the second bailout to preserve the status quo of confusion, deception, and deliberate subjugation of the Greek people. Unfortunately for the Germans, NATO, the European Union, and United States, a wildcard has been thrown into the fire by non other than the...
by John Galt February 27, 2012 17:00 ET While the world burns and turns, the Dow flirts with the big 13K (why it is big, who knows other than CNBC), and the MENA region disintegrates into a flaming pyre, the one predictable action of the day has occurred after the Greek government decided to obey their Germanic masters and follow the U.S. government example of screwing bondholders as a practice to achieve even further disorder in the markets. The statement from S&P is pretty...
by John Galt February 26, 2012 21:55 ET Hard as this to believe, I’m no longer going to pound my head on an exposed nail in the wall and preach to the insane that the world is about to end. In fact, I have no intention of any longer telling the foolish that the world is about implode. I’ve warned. I’ve preached. I’ve provided the warning signs. The financial system is irrevocably broken and the idiots in charge continue to preach that all is...
by John Galt February 26, 2012 18:40 ET Just as one nation falls into the abyss and German occupation, Spain explodes for a third week into rage as the idea of submitting to the European Union banksters and creating a new order of serfs to repay a debt created by the Spanish banksters, only wishing to save their own hides and not the nation as a whole. For some strange reason, I detect an ironic note of sarcasm in tonight’s edition from Mr....
by John Galt February 26, 2012 08:51 ET Usually before a large decline in our equity markets the Israeli TASE (Tel Aviv Stock Exchange) declines sharply. The problem with the move over the last 3 trading sessions is that there are some extenuating factors including the Iran crisis, Gaza heating up again, and a new Intifada starting in the West Bank. Considering the bull run that many world markets have been enjoying, this could well be a warning signal that a correction of...
by John Galt February 22, 2012 05:30 ET In what can only be called a determination of default by investors, the sell off of Greece’s short term debt tells a tale of woe. The 1 year bond yield moved from yesterday’s close of 652% to 752% overnight while the 2 year moved a whopping 20 bps from 192% to 212%. If this isn’t the true vote on the alleged ECB/IMF “bailout” I do not know what is. This is a nation falling into...
by John Galt February 21, 2012 18:10 ET The first three portions of Ambrose Evans-Pritchard’s commentary on the Greek tragedy today drop a huge hint as to what is coming in the Balkans: Greek elections in April are likely to sweep away the political class tainted by the hated “Memorandum” of the EU-IMF Troika, with the once dominant PASOK party down to 13pc in the latest poll and votes peeling away to the Communists, the Democratic Left, and Syriza. Alexis Tsipras, the Syriza...
by John Galt February 21, 2012 05:05 ET The technocrats are all patting themselves on the back but the truth about today’s “bailout” announcement comes from the Hellenic Financial Authority and its statement today (via The Athens News): The Hellenic Republic today announced the key terms of a voluntary transaction in furtherance of the 26 October 2011 Euro Summit Statement, known as the Private Sector Involvement, and in the context of its economic reform programme that has been agreed with the European Union...
by John Galt February 19, 2012 17:00 ET Different weekend, same headlines. Another deal, another bail out rumor, another saving of the Euro, and another piece of wood on to the pyre inflaming and destroying the oldest democracy in world history. Yet while the Greeks suffer, Berlin fiddles. Tonight, Ambrose Evans-Pritchard in the U.K. Telegraph addresses the idea of saving the nation by restoring sovereignty. Too bad it appears to be another idea, too little, too late. To read the commentary in full,...
by John Galt February 17, 2012 19:15 ET So much for the “how dare you” mindset of the British and European banksters who wanted to invade Iceland with military force to take over the nation and insure they pay their debts back to their nations. Once the people Iceland elected to remain independent and not become victims of European servitude the hard times began but now are ending just a few short years later. Tonight Ambrose Evans-Pritchard highlights the glorious Viking victory of...
by John Galt February 17, 2012 05:20 ET Of course TPTB will tell us, just like they did with Indymac, Fannie, Freddie, and Bear Stearns that is “contained” and no big deal. Of course tell the Greeks digging through dumpsters this fact and I’m sure they will provide you with a sip from a Molotov cocktail. I give this less than a month before we see a 1000% yield. The intraday high today, thus far, was a nasty 639%. Just wow. (via...
by John Galt February 16, 2012 21:45 ET The housing news, as usual, was spun by the Obamamedia, the Fedomedia, and the Bullmedia as the ultimate sign that once again, for the 113th time in 4 years, “We’ve turned the corner!” And as the unicorn pooping skittles and rainbows sprayed the news over Wall Street and the gullible morons of the nation, reality is here, at these pages. First, let’s not sugar coat this. Starts were up my friends. They were up nicely....
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