''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
Time to unwind this mess. I do not know if the USA can realistically escape the "socialist" title anymore. Let see, we prop up Amtrak, USPS, Many Airlines, Fan- Fred to name a few. Then we have a ponzi scheme name Social Security. Medicare and Medicaid are two programs that have huge future obligations they cannot meet, oh I guess they can by printing more debt. Am I supposed to consider this a serious country? Oh, let's not forget the constant globetrotting missions the military is always on.
Remember the saying "all we have to fear is fear itself"? If we all go crazy with fear this sort of thing could really happen. But if you look around we have it really, really, good. We have plenty of food, water, transportation. The list goes on and on. Let's get the banks fixed up and move on.
Fear is the ONLY thing that will make sure this happens. Don't spread fear so this stuff won't happen. We just need to be tough minded. Look around, it really is a great day!
If that is indeed a fact, I think it would be good for our money, or to save what was left before we lost every cent we ever had.... We need to get rid of the money sucking Federal Reserve first and foremost!!!!
Democrats are responsible for the mortgage crisis! First the "Community Reinvestment Act" with Carter, then continuing with Clinton in 1999, which FORCED banks to give loans to risky people - BASED ON SKIN COLOR!! Bush & McCain repeatedly WARNED of financial disaster regarding Fanny Mae/Freddy Mac and what thus became the '08 financial crisis! Democrats, however kept to their party line, extending loans to people who couldn't afford them, just like you would expect of socialists! PATHETIC SHAME
the media is only going to give you some of the truth and not all. How can you explain all the other recent failures that happened? We are in the worst financial crisis since the great depression. Part of it wall streets problem and part bush administration. If there was a problem, perhaps they should of tried stopping it..before the domino effect. Bush said we weren't in a recession..had the hope foundation for people losing their homes...and a 800 # ..that rang and rang..
The republicans are up against the paulson bailout another scam by the dubja admin. dubja is claiming the collapse of free market if they dont act soon.
Read the REGULATION plan proposed by the Bush administration SPECIFICALLY against Fannie Mae and Freddy Mac on September 11, 2003. This calls for close supervision and regulation on these two companies in addition to creating a new agency for that specific purpose. Democrats turned it down, saying the poor can't afford housing if that plan is moved forward. Who's to blame??? do your research.
joyful2326, what about all the other banks that failed? Nancy Peloski said it was the bushes administration ..some of Wallstreet problem..which the taxpayers should not have to pay for their unscrupulous acts..they prospered and we have to pay. I say NO DEAL.!!!
What the heck do you guys get out of corrupting the record like this? You want to bring the whole house down to win the "game"? "Do your research". What good is that when
you will stop short of research that will
disprove your point? I've seen it happen countless times. The Republicans are nothing
if not all about regulation and taking from the poor to give to the rich. A quick buck
prodigee probably works for bush and trying to stop ppl from listening to this guy...and my 13 year old son understands we're in deep shyt...and prodigee u probably were the ones last year who were all like yeah itll be ok...well its not so u tell me whose the dumbass...?
and then the dow will hit 9,000 and it will cut in half quickly. lmao!!!!. I'm a trader you dick head, you have no clue as to how to take advantage of these markets.
New Agency Proposed to Oversee Freddie Mac and Fannie Mae, New York Times, September 11, 2003: 'The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago ... Among the groups denouncing the proposal today were the ... Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.'
they'll get away with it too! and if you bitch about it, Me and my fellow cop buddies will just take your ass to jail, cause those will be the only jobs left in 10 years. LOL I CAN'T WAIT!
Does anyone know how much you can take money out of bank without raising any red flags? In what period of time? Let say you have $200,000 how do i go about taking money out in the shortest time without raising flags?
prodigee411 .. either I have or have not is not at the concern here. It's not that I come up here to show off what I have or have not. You seem to miss the point and my question entirely. This is not a pissing contest. I am sure a lot of people who have 40K 60K wonder about this as well. You got up on the wrong side of the bed? Or are you being paid by PPT to stire things up in here?
Is anyone familiar with WHAT ACTUALLY HAPPENS? I hear people going over and over about how there's a crash coming...but what will actually cause the crash? Thanks
Google: commodities futures modernization act phil gramm. (Gramm is McCain's butt buddy!) It is an ammendment to the Enron loophole bill that McCain supported. So if you are wondering why YOUR tax dollars just bought a debt strapped insurance company, check this out. The GOP are all against regulation. Let us remind them that the airline industry is regulated. If it wasn't,their flights to Hawaii and back would cost about $15,000. Fucking Assholes!
Just called 3 largest local gold/silver shop. City of 200K people. No gold coin available but can get it, waiting time few weeks. They said I will have to pay around 60 to 65$ over spot since their brokers charge $50 over spot. Silver, only 100 coins left in all, will have to pay about $5 to $6 over spot. They recommend coins (dime, quarter, dollar) pre 1964 instead since premium is not as high. They still have a bit of those. This goes to show what's up with gold and silver now.
you see this? War is coming against IRAN to get USA out of financial mess.
JERUSALEM (AP) — The U.S. plans to sell Israel 1,000 buster-bunker bombs which Israeli military experts said Monday could provide a powerful new weapon against underground arsenals in Lebanon or Gaza.
The experts said they doubted, however, that the bombs could be used to deliver a crippling blow against Iran's nuclear program.
The Pentagon issued a release on the planned sale on Sept. 9.
A consortium of banks will provide a financial backstop to help provide an orderly winding down of the 158-year-old investment bank. And the Federal Reserve has agreed to accept lower-quality assets in return for loans from the government, the New York Times says.
The Federal Reserve is also considering expanding its direct lending program to widen the collateral it accepts, one person said on condition of anonymity. The goal of the bank group's fund, which may total at least $50 billion, would be to shoring up investor confidence, the person said.
I just saw a full-page color ad in a July issue of People Magazine. If this doesn't portend the future I don't know what does.
The ad showed a $100,000 bill at the top, with a Lincoln penny in the center. The message was that never has a single penny been lost on accounts insured by the FDIC up to $100,000.
This was an actual ad, to assuage the general public. I guess they figure people need convincing their money is safe.
This is what you do. The Govt should default on Social Security and Health care. You allow the seniors to seek family support, hospitals become nonprofit as well as pharmacuetical. You transfer that 2 trillion to infrastructure and credit. And then, if you don't work then you don't eat and of course you die. Just an idea, redistribute property for farm land instead of industrial or national parks
defaulting on entitlements is the only thing left...no political will to do it. I believe they will simply hyperinflate the currency till the entitlement payments are worthless. Its easier and safer.
I really hope the stock market crashes this month I am not that smart and resourceful to read what you're reading, but I am sick of the way most of my family and friends are so spoiled and "consumerist" and place so much importance on material possessions instead of what's inside thier soul. MONEY IS WORTHLESS IT CAN'T LAST
Alot of people say that the public will never accept a NAU. Thats why the globalists are going to make life so miserable in this coming depression that it will be embraced by society without hesitation. They will promise a return to normal civilized society again.
Ok. . . . . , but why is it not a bailout ? Instead of JPM getting the good stuff, everybody gets it?
A consortium of banks will provide a financial backstop to help provide an orderly winding down of the 158-year-old investment bank. And the Federal Reserve has agreed to accept lower-quality assets in return for loans from the government, the New York Times says.
Interesting you say this.. supposedly the U.S. government is planning a staged Alien Invasion that will be carried out via the use of holographic technology as a means of declaring a national emergency and implementing martial law.. It sounds pretty far out there I know, but if it was happening for real the alien craft should be detectable on radar. Then would be the time to forcefully take control over the local airports and videotape radar monitors to get the real footage out to the public...
I don't think this is a real place to talk about it, maybe the other video that VV posted. Don't want any people coming by to get scared off by this. No offense, just sayin.
It would be much more cost effective to use HAARP on California not to mention passing the BS test. Thus force majeure would be and easy pill for most people to swallow.
The talismanic ex-central banker said that the crisis was the worst he had seen in his career, still had a long way to go and would continue to effect home prices in the United States.
"First of all, let's recognize that this is a once-in-a-half-century, probably once-in-a-century type of event," Greenspan said on ABC's "This Week."
NEW YORK - An emergency trading session has been opened between Wall Street dealers with Lehman Brothers counterparty risk.
The session will run from 2 p.m. to 4 p.m. and will involve credit, equity, rates, foreign exchange and commodity derivatives, the ISDA said in a statement.
"Trades are contingent on a bankruptcy filing at or before 11.59 p.m. New York time Sunday," said the statement. "If there is no filing, the trades cease to exist."
it seems that no matter what the gov. tries to do to prop things up something happens to throw a stick in the spokes. The hurricane damage in the gulf is a perfect example. The giant keeps getting attacked...one blow after another...when will he fall?
Thanks so much for that video with the guy from Tyche versus those CNBC puppets. Awesome how he exposed central bank collusion to suppress precious metal prices and keep the public asleep and then they shut down the interview fast. Keep it up and hope all your prep is going well
I've seen comments about food storage, and I'm sure there will be food distribution disruptions. I'm buying 10 pound bags of rice, 3 a week, until I get 50 bags. The expiration is two years away. Once I get 50, I'll donate one a week to the food bank at my church and replace it. This will rotate my stock. Same with canned vegetables. I will be altruistic pre collapse, prepared post collapse, and will have some to share with others who didn't prepare. Anyone got a better plan?
hi folks, just a little info.. gasoline is 6.00 a gallon here in the south...gas stations are running out of gas all over the southeast...3 of the 4 stations in my town are out of gas...I wonder how the "shortage" will affect the housing market, unsecured credit industry and auto loan business in the southeast if this last more than a weekend? People in rural communities like mine travel an average of 2 hrs a day for employment..they are in financial trouble already.cant buy gas..cant go to work
Powerful Republicans in the Federal Reserve are going out of their way to make sure the real pain happens during the next presidency. The lying will continue until after the election. I doubt heads will roll for the discrepancies.
The bond market will fortell the dollar value. Can you comment Vision?
The whole bailout assumes there will be a calming effect. This is about biding time for the banks to clean up, consolidate, and for CEO's to get the golden parachute in time.
There has never been an economic breakdown on this scale before.
People say the price of precious metals is going down but you can't buy any RIGHT NOW.
So how much would it cost to put a physical ounce of gold in my sweaty little hand RIGHT NOW? Everything can be done at the right price. That would be the real price of something.
There is so much trust and illusion out there, and so many skewed & deranged viewpoints, that it is hard to get the real picture of values, prices and worth.
I watched some blogger yesterday. He said we have to stop comparing what is happening in the economy today, to what happened during economic disasters of the past.
This is different. We have different conditions today, different people, different everything. Our population is a loose cannon. There is so much "stuff" out there, I see it at auctions. Worthless crap, really. Some things deflate, some things inflate, it is what it is. Don't try to figure it out, just go with it.
Agreed. We are now stepping into an era with no historical precedent - any comparison with the previous crises of our modern economy would be fallacious. It is neither a remake of the 1929 crisis nor a repetition of the 1970s oil crises or 1987 stock market crisis. It is truly a global systemic crisis.
LEH says I want 10 billion Everyone says no you're not worth 10 billion. LEH says well I have derivatives that upon default will cause finanacial collapse.
The sweat drips, the drama builds, and soon we will see how the scene plays out.
Have you ever seen an action movie where the cop is pointing a gun at the bad guys head, but the bad guy has a trigger linked to a bomb that will kill the cops family...or some situation like that?
Well lets take a look at LEH (the guy with the trigger/bomb)
Cont - that said, any cash (francs, dollars, euros) is goods as well as gold/silver. Pm's are deflation hedge not inflation hedge. To prove my point gold should be about $2500 inflation adjusted and is only $750.
I don't know whether to throw up or laugh. Everything costs more than it does a year ago and your arguing deflation? Wake up. Cash is hedge against deflation, pms are hedge against inflation. I've had economics 101 and they never talked about any of this stuff, but i'm sure you wouldn't know that. Obviously you know very little about the pms trade.
You can argue with me all you want that doesnt change a FACT - everything goes down in price because there is a LIQUIDITY crisis. Look around you - housing, pms, oil, corn, etc. And please dont try to argue that pm's are hedge against inflation. Its laughable. You were better off buying a house in 1970 for 20k and selling for 500k 1 year ago. buy 1 oz gold for $850 in 1970 sell for $750 today. LOL. Hows that for inflation hedge? Pm's are store of wealth not inflation hedge. Look it up.
@bdc , just because food and energy costs more than one year ago does not mean its an inflationary environment.I need not repeat the same thing again, there are several people who have explained why we are in a deflationary environment ( btw as we are seeing now, deflation usually has a worse social outcome than an inflation, hyperinflation is by far the nastiest of them all ). I too am a trader.
cont,If at all - hyperinflation is at least 3 to 4 years away. In any case, it is good to be prepared with sufficient food storage, that is one thing I agree.
If I have some physical precious metals, that would be for an emergency , not to profit from it. I would rather tend to make a quick buck shorting badly run firms in this enviroment ( not always the case, bear rallies can be sharp )
When you say deflationary environment, are you talking about the money supply or prices? The money supply is always increasing, and the bailout assures us that there will be "money" to cover any bad debt. So I guess you mean just real estate prices? All other prices are up.
But if foreign govts lose confidence and Fed is not able to expand credit - ( US Economy=credit based economy) , it could result in currency collapse and hyperinflation.And with banks leveraged to hilt with god knows what derivatives , this kind of an event has never occurred in the past.
But these extreme situations could be 3 or 4 years away, if at all. Unlikely to happen either this year or next year. In any case, situation will be very bad for main street.
If Lehman goes down, markets should tank. But chances are there may be some foreign buyer willing to buy it out at firesale price.If somebody buys out Lehman this wknd, we may see a nice short term rally.
Speculators and short term traders rule the roost since its a chaotic environment not driven by fundamentals .Long term investors would have to bear significant risk if they are not sufficiently diversified.
stockbrokers must be the dumbest people on earth..or at least adhd...rally due to a weekend bailout...why dont/cant they see the big picture? no matter if they are bailed out or not its BAD...insanity...
Follow the money trail. Democrats are behind this failure as they feverishly worked for years, led by Barney Frank, to avoid any reform or further regulation, exactly what LIBs claim to be all about. What a party. While this dwarfs Enron's collapse, there hasn't been a single word of outrage or demands of investigations from the "Party of the People".
Lol, your right the crappy bush economy has nothing to do with this. The dems took over in 07. They have such a small margin over the repubs that the repubs can stonewall anything. Also in 2003 Bush's campain for re election he said quote "we've helped millions of americans buy homes." by buy homes he meant in 3 years most of those would start foreclosing.
Exactly. Bernanke is trying to maintain "business as usual" and reinflate but he cant because its all crumbling. That is why even with low rates the dollar is still rising because nobody has cash and only "credit". That is called deflation. Dont fight the market you wont win but instead detach from all news regardless of which side and think for yourself. The gov WANTS inflation but they cant get it dont you see. Inflation benefits debtors not creditors - economics 101. Wake up.
I am only trying to help you guys since all the talking heads on tv and internet will never explain it. There might be a collapse but the smart man is prepared for ANYTHING including changing his mind when presented with facts. We have deflation and no matter how much you disagree the facts prove it - dollar is rising and commodities faling, credit dissapearing, jobs lost, bankcrupcies up, prices falling, etc = DEFLATION. Peter Schiff can afford to loose others money you cant. Got cash?
Valahian: Glad to see someone is holding on to cash I need more people like you and less like me. One can't win big if everyone is betting the same way. So hook me up since you say deflation is on the menu why don't you snap up some bonds as well the future value of Dollars will only go up in your scenario. And look the dollar is only going up oil, gold and silver is going down you are winning big with cash and bonds. Keep it up buddy. My savings of real items will be worthless in 10 years.
Which means that the government is prepared to destroy the dollar, and is not just prepared to, but is currently actively destroying the value of the dollar rather than let those firms fail. So the way you invest for the failure of an out of control derivatives market is to invest for the destruction of the dollar. Which means taking on new tools for a new time.
The federal government is not going to let the financial system fail. It will create however much money needs to be created to bail out the institutions and attempt to bailout the economy, as it has already shown in real world test after test, from the so-called "tax rebate", to Bear Stearns, to Fannie Mae and Freddie Mac.
I have read about Japan and yes, there are many similarities, such as the housing and equity bubbles. However, there are some striking differences. The US is undergoing an enormous currency crisis as the world reserve currency. This is huge.
That said - gold and silver is a STORE of wealth meaning that they will always be valuable as to what they can get you (8 barrels of oil, etc as barter if nothing else). Gold and silver you pass on to your kids not sell after 6 months to make a quick buck - you guys just dont get it. So dont panic sell it now but get used to the FACT that precious metals are not used to SPECULATE. Period. And yea do get ready cause it might get real ugly - deflation ugly. Hope Im wrong.
Lol, we aren't seeing deflation, remember it's quote "business as usual" at fnm fre, meaning no doc liar loans continue. also 2 percent interest rates today we hit the highest record borrowing from the fed window. all we are seeing is a short term rally in the dollar to cover shorts. what you don't understand is in the 30's dollar was backed by gold/silver thats why there was deflation. now it's not so we will have hyperinflation like wymer republic and their fiat currency.
What is happening today is called DEFLATION look up the term and what it means if Bernanke will inflate is GOOD for you otherwise an oz of gold will be $20 & silver $1 as they are already on the way down. Forget all the talking heads on tv and the buffets, fear mongers etc. This is classic deflation. Get ready for THAT = have cash. Why do you think the dollar is going to the moon, fed intervention? Theyre broke. Think about it. Cash (dollar) is king not trash today why? Do you have cash?
I am very impressed by your videos and I want you to know that you've helped me to weather the stern looks and ridicule I get from my wife over trying to prepare for what is coming. After 28 years working for a major oil company I decided to take a "package" pay off my home, pull out of the market and stick my saving into Euro's and PM's. I'm hoping I did right. I've picked up another job on the side and I'm still preparing. Good Job VV!
Depends on what you order from Apmex, as long as they have everything you order in stock it seems to take a week or two from when they receive your payment. I do trust Apmex above most other sites though, if they don't have something in stock they seem to be up front about it.
Checking in brothers and sisters. Hope all is as well as can be.
Yes, the lies are being exposed.
Lehmans done by Friday or sooner. WaMu on its heels. Many more to come. Time runs out for the many. The few, do what they can for themselves and family.
The "domino" effect happens with the financials, truth vision.
I agree on another point, we will bail out every one that lines up to the Gov. handout window.
apart from a global calamity such as Sarah Palin using her passport often, it is hard to see hyperinflation either this year or next year.
___
Ms . Palin appears to have traveled very little outside the United States. In July 2007, she had to get a passport before she visited members of the Alaska National Guard stationed in Kuwait, according to her deputy communications director, Sharon Leighow. She also visited wounded troops in Germany during that trip.
During the summer I believed the fall would be pretty tough but this exceeds my imagination. One huge bank after the other failing and basically USA turning into a centrally planned socialist country. With the amount of bailouts happening every day pretty soon the US government will own everything. How is that different than socialism/communism?
The U.S. will bail every bank and industry until it can't. We already can't afford the socialism we have now; the u.s. is clearly heading into an economic collapse. The dollar will be another currency for the history books.
We are currently experiencing massive deleveragely of the credit bubble. That bubble is now starting to contract. It's only a matter of time before the U.S. dollar collapses once the central banks run out of tricks.
Glad you came on youtube when you did, and I found your vids. Started stocking up around then, and have already had to delve into those items. Would have stocked more, if had the money. Thanks for going out of your way to help. It will become more evident to others soon too. Blessings to you.
Vision, I don't fully understand the bank failure stuff. WAMU is now trading around $2.00 If they declare bankruptcy... and the fed takes over, does this mean that the employees of that bank will stll have a job and the bank will continue to operate and be open but just under another name or under FDIC? From what I understand INDYMAC is open but under another name. Thanks. PS. AOL keeps my webstuff in the order I visit the sites most often. You and Europac are on top!
CHICAGO, Sept 11 (Reuters) - Campbell Soup Co (CPB) posted a higher quarterly profit on Thursday as price increases and newer products helped offset higher commodity costs.
The company also said sales growth in the just started 2009 fiscal year should exceed the company's long-term expectations, with earnings up 5 percent to 7 percent excluding unusual items.
Campbell Soup Co.'s (CPB) fiscal fourth-quarter net income rose 46% on revenue gains, but margins slipped amid continued increases for ingredient costs, and volume fell.
International sales rose 17% on the weaker dollar and extra week, as earnings jumped 50% amid strength in Canada.
So, now with the "strong dollar" how will revenue fair when there's ongoing consumer weakness in the US? Looks like they'll have to raise prices again to increase their margin.
People buying Campbell soup doesnt' seem very encouraging, its kind of like getting excited about spam breaking records lasts month. As people stay home instead of going out, it wouldn't surprise me at all to see some core food companies see an increase in volume.
Geez, cheer up. Yes, the economy is tight and will be tight for some time. The Gen Xers have run it up to artificial highs. It will correct and continue growing in a responsible manner as Gen Y takes over. History is on our side because we've seen this before and can prepare. The 1950's boom will repeat but not in such an explosive manner. Twenty years of good growth will result as the US has a very robust business/political interface.
Gen Xers? You have to be kidding, right? Blaming one demographic is hardly the responsible thing, but if one were to do that there are other groups that deserve more than their fair share of the blame.
Maybe you don't know about the $50+ trillion liability due in the next 20 years, the crumbling infrastructre, or the $1 trillion federal deficit, to name a scant few? Google David Walker for starters.
gen Xers parents are in debt to their eyeballs...i know several friends gen x parents who are begging their kids for help, are filing bankrupcy ect. gen xers have made a mess but most of theirs is unsecured credit and cars
3. Mr Gross�s fund, which side-stepped the housing market slide, had risen strongly before Sunday�s government bail-out. In the 12 months to August 1, the fund returned 9.2 per cent, beating all of its peers, according to fund tracker Morningstar"- Jim Sinclair Commentary
This is really sick. But than again, there were people that made fortunes in the first depression.
2...Mr Gross had made a big shift out of US Treasuries and corporate bonds over the past year and into agency bonds, betting that the government would support Fannie and Freddie Mac. By May this year, more than 60 per cent of his $132bn fund was in mortgage debt.
Mortgage-backed bond prices rose after the US government seized control of the agencies.
Mr Gross�s fund, which side-stepped the housing market slide, had risen strongly before Sunday�s government bail-out.
"The Bill Gross-managed Pimco Total Return fund reaped a $1.7bn payday following the US government takeover of home loan giants Fannie Mae and Freddie Mac.
While shareholders in Fannie and Freddie suffered deep losses, the world�s biggest bond fund saw its highest ever one-day rise against its benchmark index on Monday, benefiting from the bet made by Mr Gross on mortgage bonds issued by the agencies...
Great find kidbilly. I've seen it before, but seeing that part at 17 minutes seams right on. If what he's saying is true buy the end of this year or early next year hyperinflation will set in. They are just trying to keep a lid on this till after the election.
bdc03, I will save that message. We will still in a deflationary enviornment by the end of the year. Hyperinflation is several years away, if at all.
A few hundred banks may fail, crude may go up, food prices may go up another 15% by end of the year, unemployment may be more than 20%, still that is not same as hyperinflation.
Watch "Rich Dad Predictions 2008". Robert Kiyosaki predicted 10 months ago that sometime during the precious metals bull run, that there will be a crash due to deflation. He said it would be short-lived and then hyperinflation would kick in soon after and precious metals will skyrocket. Buy gold/silver at this discount, its a gift.
I think once they quit playing games with the market and the fog clears out, there will be asset deflation & monetary inflation. Credit is going to be gone; anything bought with credit will deflate (homes, cars). However, the Fed will add more zeros into the computers and give that money to the few remaining banks, who will use it to bid up anything of value (commodities, agriculture, metals). The big boys will have everything and the little guy will be broke. No?
(continued). Deflation affects hard currency economies from what I understand. We are so far from that it is not even funny.
Also, in true deflation, there should be falling demand for PMs due to more scarcity of cash, more unemployment, etc. However, we have exploding demand on the street for physical metals. This is counterintuitive in a deflationary environment.
Yes PM prices are falling like a rock and it appears overdone. My problem with all this is that the street is much different than the economy. Yes I realize the street is a smaller market. But to say we have deflation is disengenuous. There is no deflation in the smaller markets, aka the street. It is only where the big boys play.
livefree1789, if what Mr. Coxe proposes is true, this means that commodities should shoot back up as fast as they've been shot down, once all the hedgers clear out. It's still not clear to me that they have.
What really bothers me about the deflation argument is that (from what I've read), in true deflation cash is king. However, cash had a different link to gold than it does now. Cash is not money any longer - it is debt. It is only a promise to pay.
Ok, apparently I can't cut and paste. I'm sorry. This article makes more sense if you go under 'view all comments" and read it from the top down. I thought it was interesting because the craziness going on in the market has nothing to do with fundamentals.
..The future is less certain, however. Now that Freddie and Fannie have been nationalized, the credit crisis is still very much alive and financial stocks are looking as shaky as ever. As for commodities, once the current storm passes, Mr. Coxe is confident they will recover."
..This was also in keeping with the Fed's wishes, because lower commodity prices would help quell fears about inflation.
Mr. Coxe has no proof that the Fed and Treasury acted in concert to boost financials and sink commodities. He is basing his assertions on conversations with hedge fund managers and on years of watching financial markets. "There's no doubt whatever in my mind" about what happened, he says.
The losses were swift and dramatic. On the Friday before the July 11 announcement, crude oil closed at $145.18 a barrel. Over the following five days, it plunged 11 per cent. "Leverage was being unwound dramatically," Mr. Coxe said on a conference call last week. "We had a true panic."As oil and other commodities were tumbling, fears about the slowing global economy were mounting, giving resources another push downhill.
..that culminated with the wrenching decline in commodities.
According to Mr. Coxe, the Fed's ultimate goal was to trigger a rally in financial stocks, which would, in theory, help banks hammered by the credit crisis raise fresh capital and repair their balance sheets. To accomplish this, the decision to support Fannie and Freddie was deliberately announced on a Sunday, which had the effect of maximizing the reaction from thinly traded financial stocks on overseas markets.
oops, this should follow the third 'comment' from the bottom...Because many hedge funds were using massive leverage to short financials and go long on commodities, when North American markets opened and banks initially rallied, the funds were forced to cover their short positions.
At the same time, the U.S. dollar was rallying because the risk of holding Fannie and Freddie paper had diminished. The rising dollar, in turn, made commodities less attractive,...
...Because many hedge funds were using massive leverage to short financials and go long on commodities, when North American markets opened and banks initially rallied, the funds were forced to cover their short positions.
At the same time, the U.S. dollar was rallying because the risk of holding Fannie and Freddie paper had diminished. The rising dollar, in turn, made commodities less attractive, giving funds that were already scrambling to cover their financial shorts another reason to dump ..
''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''
tickyul 1 year ago
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Time to unwind this mess. I do not know if the USA can realistically escape the "socialist" title anymore. Let see, we prop up Amtrak, USPS, Many Airlines, Fan- Fred to name a few. Then we have a ponzi scheme name Social Security. Medicare and Medicaid are two programs that have huge future obligations they cannot meet, oh I guess they can by printing more debt. Am I supposed to consider this a serious country? Oh, let's not forget the constant globetrotting missions the military is always on.
tickyul 1 year ago
great now the bankers can buy up land for a penny on the dollar. has not this happened throughout history?
marly56 3 years ago
i'm feeling naughty at the moment p
babylurveboi 3 years ago
This has been flagged as spam show
Remember the saying "all we have to fear is fear itself"? If we all go crazy with fear this sort of thing could really happen. But if you look around we have it really, really, good. We have plenty of food, water, transportation. The list goes on and on. Let's get the banks fixed up and move on.
Fear is the ONLY thing that will make sure this happens. Don't spread fear so this stuff won't happen. We just need to be tough minded. Look around, it really is a great day!
BipeMe 3 years ago
I give vision victory an A********** grade for his above and beyond study and knowledge of exactly what ALL AMERICANS need to know!
I agree with him, I have been tracking since 9/11 and knew it was the end of the USA that I have always loved.
PRLof63 3 years ago
Capitalism is over forever in the USA, within the next two years by 2010.
vsaldanas 3 years ago
If that is indeed a fact, I think it would be good for our money, or to save what was left before we lost every cent we ever had.... We need to get rid of the money sucking Federal Reserve first and foremost!!!!
PRLof63 3 years ago
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Democrats are responsible for the mortgage crisis! First the "Community Reinvestment Act" with Carter, then continuing with Clinton in 1999, which FORCED banks to give loans to risky people - BASED ON SKIN COLOR!! Bush & McCain repeatedly WARNED of financial disaster regarding Fanny Mae/Freddy Mac and what thus became the '08 financial crisis! Democrats, however kept to their party line, extending loans to people who couldn't afford them, just like you would expect of socialists! PATHETIC SHAME
NObama4us 3 years ago
the media is only going to give you some of the truth and not all. How can you explain all the other recent failures that happened? We are in the worst financial crisis since the great depression. Part of it wall streets problem and part bush administration. If there was a problem, perhaps they should of tried stopping it..before the domino effect. Bush said we weren't in a recession..had the hope foundation for people losing their homes...and a 800 # ..that rang and rang..
kuualoha2008 3 years ago
The republicans are up against the paulson bailout another scam by the dubja admin. dubja is claiming the collapse of free market if they dont act soon.
raypsi 3 years ago
you now no job ha ha so funny ,.greedy boys ,.super
hujjesb 3 years ago
Read the REGULATION plan proposed by the Bush administration SPECIFICALLY against Fannie Mae and Freddy Mac on September 11, 2003. This calls for close supervision and regulation on these two companies in addition to creating a new agency for that specific purpose. Democrats turned it down, saying the poor can't afford housing if that plan is moved forward. Who's to blame??? do your research.
joyful2326 3 years ago
joyful2326, what about all the other banks that failed? Nancy Peloski said it was the bushes administration ..some of Wallstreet problem..which the taxpayers should not have to pay for their unscrupulous acts..they prospered and we have to pay. I say NO DEAL.!!!
kuualoha2008 3 years ago
What the heck do you guys get out of corrupting the record like this? You want to bring the whole house down to win the "game"? "Do your research". What good is that when
you will stop short of research that will
disprove your point? I've seen it happen countless times. The Republicans are nothing
if not all about regulation and taking from the poor to give to the rich. A quick buck
today and the people be damned. They have one
simple purpose:
"Everything for us and nothing for them"
Angelformehere 3 years ago
prodigee probably works for bush and trying to stop ppl from listening to this guy...and my 13 year old son understands we're in deep shyt...and prodigee u probably were the ones last year who were all like yeah itll be ok...well its not so u tell me whose the dumbass...?
vupadown 3 years ago
I think we are done.
kaylasergioliz 3 years ago 4
and then the dow will hit 9,000 and it will cut in half quickly. lmao!!!!. I'm a trader you dick head, you have no clue as to how to take advantage of these markets.
prodigee411 3 years ago
TAKE ADVANTAGE OF WHAT FAILURE? HOW?
twin1383 3 years ago
man you should be a forex strategist, you have no idea of what you're talking about lol.
prodigee411 3 years ago
New Agency Proposed to Oversee Freddie Mac and Fannie Mae, New York Times, September 11, 2003: 'The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago ... Among the groups denouncing the proposal today were the ... Congressional Democrats who fear that tighter regulation of the companies could sharply reduce their commitment to financing low-income and affordable housing.'
modifiedcontent 3 years ago
they'll get away with it too! and if you bitch about it, Me and my fellow cop buddies will just take your ass to jail, cause those will be the only jobs left in 10 years. LOL I CAN'T WAIT!
acidkiller303 3 years ago
You and your buddies probably have small dicks if you think your best opportunity is to become nazi fascist pigs, PIG!
johnknight999 3 years ago
Does anyone know how much you can take money out of bank without raising any red flags? In what period of time? Let say you have $200,000 how do i go about taking money out in the shortest time without raising flags?
Kelvin701Lakeland 3 years ago
you obviously don't have 200,000 if you're asking for banking advice on youtube.
prodigee411 3 years ago
prodigee411 .. either I have or have not is not at the concern here. It's not that I come up here to show off what I have or have not. You seem to miss the point and my question entirely. This is not a pissing contest. I am sure a lot of people who have 40K 60K wonder about this as well. You got up on the wrong side of the bed? Or are you being paid by PPT to stire things up in here?
Kelvin701Lakeland 3 years ago
Is anyone familiar with WHAT ACTUALLY HAPPENS? I hear people going over and over about how there's a crash coming...but what will actually cause the crash? Thanks
ybworld 3 years ago
This has been flagged as spam show
Google: commodities futures modernization act phil gramm. (Gramm is McCain's butt buddy!) It is an ammendment to the Enron loophole bill that McCain supported. So if you are wondering why YOUR tax dollars just bought a debt strapped insurance company, check this out. The GOP are all against regulation. Let us remind them that the airline industry is regulated. If it wasn't,their flights to Hawaii and back would cost about $15,000. Fucking Assholes!
joyful1959 3 years ago
A bit late for Ron Paul huh??
damagejackal10 3 years ago
Just called 3 largest local gold/silver shop. City of 200K people. No gold coin available but can get it, waiting time few weeks. They said I will have to pay around 60 to 65$ over spot since their brokers charge $50 over spot. Silver, only 100 coins left in all, will have to pay about $5 to $6 over spot. They recommend coins (dime, quarter, dollar) pre 1964 instead since premium is not as high. They still have a bit of those. This goes to show what's up with gold and silver now.
Kelvin701Lakeland 3 years ago
GOLD is up $82 .. WOW Silver up big too, even higher than gold in % increase. It looks like the end is near.
Kelvin701Lakeland 3 years ago
Top Recipients of Fannie Mae and Freddie Mac
Campaign Contributions, 1989-2008
1. Dodd, Christopher J D-CT $133,900
2. Kerry, John D-MA $111,000
3. Obama, Barack D-IL $105,849
4. Clinton, Hillary D-NY $75,550
SirWinstonChurchill 3 years ago
Depression is coming
as soon as the elections are over there will be a collapse.
dave777blaster 3 years ago 3
I hope we are that lucky.
masn1978 3 years ago
This comment has received too many negative votes show
you make a great liberal and canadian. always whining about the sky is falling. get a clue fucktard. you guys are pathetic.
milehigh587 3 years ago
no he's right. Obongo is going to inherit a bomb, he will be the last president of the USA - a military dictatorship is coming.
KLguy133 3 years ago
the US government is almost ready to make its final move, its time for us too prepare.
Emilzyz 3 years ago
you see this? War is coming against IRAN to get USA out of financial mess.
JERUSALEM (AP) — The U.S. plans to sell Israel 1,000 buster-bunker bombs which Israeli military experts said Monday could provide a powerful new weapon against underground arsenals in Lebanon or Gaza.
The experts said they doubted, however, that the bombs could be used to deliver a crippling blow against Iran's nuclear program.
The Pentagon issued a release on the planned sale on Sept. 9.
Kelvin701Lakeland 3 years ago
Vision,
Say something... anything!
PrepNow 3 years ago
Lehman was the sacrificial lamb. It was already dead and they new the markets would be manageable with the BofA story.
This makes them look like they have repented from their bail out ways and are now showing restraint. LOL
I just posted a new video, I only touch LEH for a 30 seconds, but will do another video soon.
visionvictory 3 years ago
As good a bailout as ever
A consortium of banks will provide a financial backstop to help provide an orderly winding down of the 158-year-old investment bank. And the Federal Reserve has agreed to accept lower-quality assets in return for loans from the government, the New York Times says.
gods2fight 3 years ago
The Federal Reserve is also considering expanding its direct lending program to widen the collateral it accepts, one person said on condition of anonymity. The goal of the bank group's fund, which may total at least $50 billion, would be to shoring up investor confidence, the person said.
Trash in, dollar out - its called a bailout.
gods2fight 3 years ago
I just saw a full-page color ad in a July issue of People Magazine. If this doesn't portend the future I don't know what does.
The ad showed a $100,000 bill at the top, with a Lincoln penny in the center. The message was that never has a single penny been lost on accounts insured by the FDIC up to $100,000.
This was an actual ad, to assuage the general public. I guess they figure people need convincing their money is safe.
Trazom24 3 years ago
Jim Rogers is now saying that the dollar will lose its status as the world reserve currency.
bdc03 3 years ago
Vision,
Every time I go to Costco, I think of your
videos "Survive and Thrive." Making another
trip there this week.
Wall Street is making this BofA deal with
Merril sound so good and I think that is
what is "saving" the market for today.
PrepNow 3 years ago
Vision,
It's still early but why is the DOW only
down around 300 points?
PrepNow 3 years ago
Dow futures down -356. Once the Dow breaks below 11,000, the next bottom is a long ways away.
wrb1957 3 years ago
"It's clear we're one step away from a financial meltdown," said Nouriel Roubini, chairman of the consulting firm RGE Monitor.
sbmillionair 3 years ago
This is what you do. The Govt should default on Social Security and Health care. You allow the seniors to seek family support, hospitals become nonprofit as well as pharmacuetical. You transfer that 2 trillion to infrastructure and credit. And then, if you don't work then you don't eat and of course you die. Just an idea, redistribute property for farm land instead of industrial or national parks
Spurgeon123 3 years ago
defaulting on entitlements is the only thing left...no political will to do it. I believe they will simply hyperinflate the currency till the entitlement payments are worthless. Its easier and safer.
centervilletn 3 years ago
someone predicted on marketwatch comments 6-7 months ago that september 15th would be the beginning. Someone reminded me of it an hour ago. Hm.
sbmillionair 3 years ago
Thing are not looking good for tomorrow morning.
9-15-2008
CZARVII 3 years ago
I really hope the stock market crashes this month I am not that smart and resourceful to read what you're reading, but I am sick of the way most of my family and friends are so spoiled and "consumerist" and place so much importance on material possessions instead of what's inside thier soul. MONEY IS WORTHLESS IT CAN'T LAST
primussux 3 years ago
you might get your wish in the morning.
centervilletn 3 years ago
Please Vision.... make a new video. Even if
you have nothing new to add, it s just "reassuring" to some of us to hear your
voice and what you have to say.
Thanks.
PrepNow 3 years ago
youtube. com/watch?v=ZM2QXmeRGcA
sbmillionair 3 years ago
s&p futures down almost 4%
sbmillionair 3 years ago
'emergency' rate cut?
sbmillionair 3 years ago
wow Merrill goes down to BOA .. cnbc .. stunning !
florgat91 3 years ago
Alot of people say that the public will never accept a NAU. Thats why the globalists are going to make life so miserable in this coming depression that it will be embraced by society without hesitation. They will promise a return to normal civilized society again.
lyradguitar 3 years ago
I will be living somewhere else folks. If you have some wealth to protect. I suggest you look at your options very closely.
Repomex01 3 years ago
Lehman is done (CNBC)
SilverWealth23 3 years ago
Ok. . . . . , but why is it not a bailout ? Instead of JPM getting the good stuff, everybody gets it?
A consortium of banks will provide a financial backstop to help provide an orderly winding down of the 158-year-old investment bank. And the Federal Reserve has agreed to accept lower-quality assets in return for loans from the government, the New York Times says.
gods2fight 3 years ago
The public has been dumbed down to accept anything - as long as they can hang on to their HDTVs.
If CNN and Foxnews make a headlines that Aliens have invaded America, people would believe it LOL.
gods2fight 3 years ago 5
Interesting you say this.. supposedly the U.S. government is planning a staged Alien Invasion that will be carried out via the use of holographic technology as a means of declaring a national emergency and implementing martial law.. It sounds pretty far out there I know, but if it was happening for real the alien craft should be detectable on radar. Then would be the time to forcefully take control over the local airports and videotape radar monitors to get the real footage out to the public...
Crizkut 3 years ago
I don't think this is a real place to talk about it, maybe the other video that VV posted. Don't want any people coming by to get scared off by this. No offense, just sayin.
sbmillionair 3 years ago
It would be much more cost effective to use HAARP on California not to mention passing the BS test. Thus force majeure would be and easy pill for most people to swallow.
davincij15 3 years ago
The Amero and the NAU is near. Get ready!
Gilgamesh73 3 years ago
"We are on the verge of a global transformation. All we need is the right major crisis and the nations will accept the New World Order."
-David Rockefeller (2000)
firethefed 3 years ago
hey guys, we have a new subscriber :)
The talismanic ex-central banker said that the crisis was the worst he had seen in his career, still had a long way to go and would continue to effect home prices in the United States.
"First of all, let's recognize that this is a once-in-a-half-century, probably once-in-a-century type of event," Greenspan said on ABC's "This Week."
visionvictory 3 years ago
NEW YORK - An emergency trading session has been opened between Wall Street dealers with Lehman Brothers counterparty risk.
The session will run from 2 p.m. to 4 p.m. and will involve credit, equity, rates, foreign exchange and commodity derivatives, the ISDA said in a statement.
"Trades are contingent on a bankruptcy filing at or before 11.59 p.m. New York time Sunday," said the statement. "If there is no filing, the trades cease to exist."
BendoverBernanke 3 years ago
Tomorrow may be a painful day in the markets, or maybe we will have a 300 point rally? I'll toss a coin and see.
BendoverBernanke 3 years ago
Still no resolution to the Lehman brothers bailout as Barclays passes on buying "good assets" from Lehman. Check out the article. (REMOVE THE SPACES)
money . cnn . com/2008/09/14/news/companies/lehman_brothers/index . htm
markymarkuss777 3 years ago
test#1
flhxpete 3 years ago
it seems that no matter what the gov. tries to do to prop things up something happens to throw a stick in the spokes. The hurricane damage in the gulf is a perfect example. The giant keeps getting attacked...one blow after another...when will he fall?
centervilletn 3 years ago
Hi Vision,
Thanks so much for that video with the guy from Tyche versus those CNBC puppets. Awesome how he exposed central bank collusion to suppress precious metal prices and keep the public asleep and then they shut down the interview fast. Keep it up and hope all your prep is going well
andrewebisu 3 years ago
Please read this article.
w w w . forbes . c o m / reuters / feeds / reuters / 2008 / 09 / 13 / 2008-09-14T004831Z_01_N13304110_RTRIDST_0_LEHMAN-WRAPUP-3 . html
Hopefl1 3 years ago
thx hopefl1
visionvictory 3 years ago
I've seen comments about food storage, and I'm sure there will be food distribution disruptions. I'm buying 10 pound bags of rice, 3 a week, until I get 50 bags. The expiration is two years away. Once I get 50, I'll donate one a week to the food bank at my church and replace it. This will rotate my stock. Same with canned vegetables. I will be altruistic pre collapse, prepared post collapse, and will have some to share with others who didn't prepare. Anyone got a better plan?
elpilotoazul 3 years ago 2
Your plan sounds great to me and a very good way to keep your stock rotated.
JMJprotect 3 years ago
very nice!
bankurupted 3 years ago
Get yourself a shotgun. Get a Machinegun and a couple of AP rounds if you can.
You got to secure your resources and your loved ones if the big stuff happens.
Cleric775 3 years ago
check out this link about what will happen if Lehman Brothers fails (REMOVE THE SPACES)
forbes . com / reuters/feeds/reuters/2008/09/13/2008-09-14T004831 Z_01_N13304110_RTRIDST_0_LEHMAN-WRAPUP-3 . html
markymarkuss777 3 years ago
hi folks, just a little info.. gasoline is 6.00 a gallon here in the south...gas stations are running out of gas all over the southeast...3 of the 4 stations in my town are out of gas...I wonder how the "shortage" will affect the housing market, unsecured credit industry and auto loan business in the southeast if this last more than a weekend? People in rural communities like mine travel an average of 2 hrs a day for employment..they are in financial trouble already.cant buy gas..cant go to work
centervilletn 3 years ago
centervilletn-
bryson city, nc: 5.25/gal.
txnc65 3 years ago
Powerful Republicans in the Federal Reserve are going out of their way to make sure the real pain happens during the next presidency. The lying will continue until after the election. I doubt heads will roll for the discrepancies.
The bond market will fortell the dollar value. Can you comment Vision?
The whole bailout assumes there will be a calming effect. This is about biding time for the banks to clean up, consolidate, and for CEO's to get the golden parachute in time.
updownleftrightinout 3 years ago
There has never been an economic breakdown on this scale before.
People say the price of precious metals is going down but you can't buy any RIGHT NOW.
So how much would it cost to put a physical ounce of gold in my sweaty little hand RIGHT NOW? Everything can be done at the right price. That would be the real price of something.
There is so much trust and illusion out there, and so many skewed & deranged viewpoints, that it is hard to get the real picture of values, prices and worth.
1693B 3 years ago
Two things will happen. One, massive depression where cash would be king as massive deflation takes place when only a few banks survive.
Two, massive depression where precious metals will save you as hyperinflation kicks into full gear from massive debt.
Either way, the stock market is nowhere to be at the time unless you are shorting it.
cowboycarl04 3 years ago 2
either way, if you have food stored, you're well off.
sbmillionair 3 years ago
I watched some blogger yesterday. He said we have to stop comparing what is happening in the economy today, to what happened during economic disasters of the past.
This is different. We have different conditions today, different people, different everything. Our population is a loose cannon. There is so much "stuff" out there, I see it at auctions. Worthless crap, really. Some things deflate, some things inflate, it is what it is. Don't try to figure it out, just go with it.
Bob
1693B 3 years ago
Agreed. We are now stepping into an era with no historical precedent - any comparison with the previous crises of our modern economy would be fallacious. It is neither a remake of the 1929 crisis nor a repetition of the 1970s oil crises or 1987 stock market crisis. It is truly a global systemic crisis.
kidbilly1970 3 years ago 2
go down to your super market and buy heaps of rice and pasta and flour,and i mean heaps fill that trolly
danmang 3 years ago
Anyone watched "Missing Links"?
Hopefl1 3 years ago
LEH says I want 10 billion Everyone says no you're not worth 10 billion. LEH says well I have derivatives that upon default will cause finanacial collapse.
The sweat drips, the drama builds, and soon we will see how the scene plays out.
sbmillionair 3 years ago
just read this comment on MW, pretty funny.
Have you ever seen an action movie where the cop is pointing a gun at the bad guys head, but the bad guy has a trigger linked to a bomb that will kill the cops family...or some situation like that?
Well lets take a look at LEH (the guy with the trigger/bomb)
sbmillionair 3 years ago
Fed holds emergency meeting on market developments
mjc1377 3 years ago
Cont - that said, any cash (francs, dollars, euros) is goods as well as gold/silver. Pm's are deflation hedge not inflation hedge. To prove my point gold should be about $2500 inflation adjusted and is only $750.
valahian 3 years ago
I don't know whether to throw up or laugh. Everything costs more than it does a year ago and your arguing deflation? Wake up. Cash is hedge against deflation, pms are hedge against inflation. I've had economics 101 and they never talked about any of this stuff, but i'm sure you wouldn't know that. Obviously you know very little about the pms trade.
bdc03 3 years ago
You can argue with me all you want that doesnt change a FACT - everything goes down in price because there is a LIQUIDITY crisis. Look around you - housing, pms, oil, corn, etc. And please dont try to argue that pm's are hedge against inflation. Its laughable. You were better off buying a house in 1970 for 20k and selling for 500k 1 year ago. buy 1 oz gold for $850 in 1970 sell for $750 today. LOL. Hows that for inflation hedge? Pm's are store of wealth not inflation hedge. Look it up.
valahian 3 years ago
'please dont try to argue' what?
i will try and argue about whatever I want especially when your sayings are obviously and blatantly wrong
go check a head doctor, you sound like a dictator in infancy
bankurupted 3 years ago
I never said dont argue and your nickname says it all about you lol.
valahian 3 years ago
@bdc , just because food and energy costs more than one year ago does not mean its an inflationary environment.I need not repeat the same thing again, there are several people who have explained why we are in a deflationary environment ( btw as we are seeing now, deflation usually has a worse social outcome than an inflation, hyperinflation is by far the nastiest of them all ). I too am a trader.
gods2fight 3 years ago
cont,If at all - hyperinflation is at least 3 to 4 years away. In any case, it is good to be prepared with sufficient food storage, that is one thing I agree.
If I have some physical precious metals, that would be for an emergency , not to profit from it. I would rather tend to make a quick buck shorting badly run firms in this enviroment ( not always the case, bear rallies can be sharp )
gods2fight 3 years ago
When you say deflationary environment, are you talking about the money supply or prices? The money supply is always increasing, and the bailout assures us that there will be "money" to cover any bad debt. So I guess you mean just real estate prices? All other prices are up.
OgeronimonominoregO 3 years ago
@ OgeronimonominoregO
- Falling real estate values
- Massive credit contraction , this is the dominant force now.
- TGS had a good point on the so called m3 Money supply increase due to banks assuming bad debt in their balance sheets.
gods2fight 3 years ago
contd..
But if foreign govts lose confidence and Fed is not able to expand credit - ( US Economy=credit based economy) , it could result in currency collapse and hyperinflation.And with banks leveraged to hilt with god knows what derivatives , this kind of an event has never occurred in the past.
But these extreme situations could be 3 or 4 years away, if at all. Unlikely to happen either this year or next year. In any case, situation will be very bad for main street.
gods2fight 3 years ago
If Lehman goes down, markets should tank. But chances are there may be some foreign buyer willing to buy it out at firesale price.If somebody buys out Lehman this wknd, we may see a nice short term rally.
Speculators and short term traders rule the roost since its a chaotic environment not driven by fundamentals .Long term investors would have to bear significant risk if they are not sufficiently diversified.
gods2fight 3 years ago
stockbrokers must be the dumbest people on earth..or at least adhd...rally due to a weekend bailout...why dont/cant they see the big picture? no matter if they are bailed out or not its BAD...insanity...
centervilletn 3 years ago
Follow the money trail. Democrats are behind this failure as they feverishly worked for years, led by Barney Frank, to avoid any reform or further regulation, exactly what LIBs claim to be all about. What a party. While this dwarfs Enron's collapse, there hasn't been a single word of outrage or demands of investigations from the "Party of the People".
beavis909 3 years ago
Lol, your right the crappy bush economy has nothing to do with this. The dems took over in 07. They have such a small margin over the repubs that the repubs can stonewall anything. Also in 2003 Bush's campain for re election he said quote "we've helped millions of americans buy homes." by buy homes he meant in 3 years most of those would start foreclosing.
bdc03 3 years ago
Exactly. Bernanke is trying to maintain "business as usual" and reinflate but he cant because its all crumbling. That is why even with low rates the dollar is still rising because nobody has cash and only "credit". That is called deflation. Dont fight the market you wont win but instead detach from all news regardless of which side and think for yourself. The gov WANTS inflation but they cant get it dont you see. Inflation benefits debtors not creditors - economics 101. Wake up.
valahian 3 years ago 3
I am only trying to help you guys since all the talking heads on tv and internet will never explain it. There might be a collapse but the smart man is prepared for ANYTHING including changing his mind when presented with facts. We have deflation and no matter how much you disagree the facts prove it - dollar is rising and commodities faling, credit dissapearing, jobs lost, bankcrupcies up, prices falling, etc = DEFLATION. Peter Schiff can afford to loose others money you cant. Got cash?
valahian 3 years ago
Valahian: Glad to see someone is holding on to cash I need more people like you and less like me. One can't win big if everyone is betting the same way. So hook me up since you say deflation is on the menu why don't you snap up some bonds as well the future value of Dollars will only go up in your scenario. And look the dollar is only going up oil, gold and silver is going down you are winning big with cash and bonds. Keep it up buddy. My savings of real items will be worthless in 10 years.
davincij15 3 years ago
i bet lehhhhhhman gets bailed out on sunday
sbmillionair 3 years ago
I think that would be a pretty good bet.
visionvictory 3 years ago
Pretty sad, the market is down to only being able to rally off of bail outs and rumors of bail outs. ROFL
Everything is down, but the dollar, this is better than going to the improv on a first date. LOL
visionvictory 3 years ago
3)
Which means that the government is prepared to destroy the dollar, and is not just prepared to, but is currently actively destroying the value of the dollar rather than let those firms fail. So the way you invest for the failure of an out of control derivatives market is to invest for the destruction of the dollar. Which means taking on new tools for a new time.
firethefed 3 years ago
2)
snip*
The federal government is not going to let the financial system fail. It will create however much money needs to be created to bail out the institutions and attempt to bailout the economy, as it has already shown in real world test after test, from the so-called "tax rebate", to Bear Stearns, to Fannie Mae and Freddie Mac.
firethefed 3 years ago
good article
The Hidden Bailout Of $1.4 Trillion In Fannie / Freddie Credit-Default Swaps
by Daniel Amerman
safehaven. com/article-11205.htm
firethefed 3 years ago
Do you work for Euro-Pacific? Maybe that explains it.
valahian 3 years ago
lol- no :)
visionvictory 3 years ago
If you dont believe me READ about Japan in the 90's and youll see the similarities. Good luck to all.
valahian 3 years ago
I have read about Japan and yes, there are many similarities, such as the housing and equity bubbles. However, there are some striking differences. The US is undergoing an enormous currency crisis as the world reserve currency. This is huge.
Trazom24 3 years ago
That said - gold and silver is a STORE of wealth meaning that they will always be valuable as to what they can get you (8 barrels of oil, etc as barter if nothing else). Gold and silver you pass on to your kids not sell after 6 months to make a quick buck - you guys just dont get it. So dont panic sell it now but get used to the FACT that precious metals are not used to SPECULATE. Period. And yea do get ready cause it might get real ugly - deflation ugly. Hope Im wrong.
valahian 3 years ago
Lol, we aren't seeing deflation, remember it's quote "business as usual" at fnm fre, meaning no doc liar loans continue. also 2 percent interest rates today we hit the highest record borrowing from the fed window. all we are seeing is a short term rally in the dollar to cover shorts. what you don't understand is in the 30's dollar was backed by gold/silver thats why there was deflation. now it's not so we will have hyperinflation like wymer republic and their fiat currency.
bdc03 3 years ago
What is happening today is called DEFLATION look up the term and what it means if Bernanke will inflate is GOOD for you otherwise an oz of gold will be $20 & silver $1 as they are already on the way down. Forget all the talking heads on tv and the buffets, fear mongers etc. This is classic deflation. Get ready for THAT = have cash. Why do you think the dollar is going to the moon, fed intervention? Theyre broke. Think about it. Cash (dollar) is king not trash today why? Do you have cash?
valahian 3 years ago
I am very impressed by your videos and I want you to know that you've helped me to weather the stern looks and ridicule I get from my wife over trying to prepare for what is coming. After 28 years working for a major oil company I decided to take a "package" pay off my home, pull out of the market and stick my saving into Euro's and PM's. I'm hoping I did right. I've picked up another job on the side and I'm still preparing. Good Job VV!
Toneyboy53 3 years ago
don't forget to diversify. Call Euro Pacific Capital, Peter Shciff's company.
visionvictory 3 years ago
interesting comments from Prechter (Eliott Wave) concerning deflation ..
watch?v=76P-6P9dVcQ
florgat91 3 years ago
Depends on what you order from Apmex, as long as they have everything you order in stock it seems to take a week or two from when they receive your payment. I do trust Apmex above most other sites though, if they don't have something in stock they seem to be up front about it.
corvettedude346 3 years ago
Checking in brothers and sisters. Hope all is as well as can be.
Yes, the lies are being exposed.
Lehmans done by Friday or sooner. WaMu on its heels. Many more to come. Time runs out for the many. The few, do what they can for themselves and family.
The "domino" effect happens with the financials, truth vision.
I agree on another point, we will bail out every one that lines up to the Gov. handout window.
taznruby 3 years ago
Hyperinflation can and will hit just as hard and as fast as this latest dollar spike. People will be blind sided by it.
BendoverBernanke 3 years ago
In reply, first, never said this, love the name you picked: "BendoverBernanke" :)
Yea, the people come to a rude awakening. Soon, many things will happen.
taznruby 3 years ago
This is bigger than hyper-inflation. This will be the mother of all currency crashes.
visionvictory 3 years ago
I might get into the 2008/2009 hyperinflation camp along with bdc if the Ice Hockey mom and her war gods decide to after Russia.(*&^%$
abcnews(.)go(.)com/Politics/Vote2008/story?id=5778018&page=1
gods2fight 3 years ago
apart from a global calamity such as Sarah Palin using her passport often, it is hard to see hyperinflation either this year or next year.
___
Ms . Palin appears to have traveled very little outside the United States. In July 2007, she had to get a passport before she visited members of the Alaska National Guard stationed in Kuwait, according to her deputy communications director, Sharon Leighow. She also visited wounded troops in Germany during that trip.
gods2fight 3 years ago
VV thanks for another excellent video.
During the summer I believed the fall would be pretty tough but this exceeds my imagination. One huge bank after the other failing and basically USA turning into a centrally planned socialist country. With the amount of bailouts happening every day pretty soon the US government will own everything. How is that different than socialism/communism?
Ain't that scary?
bankurupted 3 years ago
The U.S. will bail every bank and industry until it can't. We already can't afford the socialism we have now; the u.s. is clearly heading into an economic collapse. The dollar will be another currency for the history books.
visionvictory 3 years ago
We are currently experiencing massive deleveragely of the credit bubble. That bubble is now starting to contract. It's only a matter of time before the U.S. dollar collapses once the central banks run out of tricks.
kidbilly1970 3 years ago
Vision, gotta send you a thanks.
Glad you came on youtube when you did, and I found your vids. Started stocking up around then, and have already had to delve into those items. Would have stocked more, if had the money. Thanks for going out of your way to help. It will become more evident to others soon too. Blessings to you.
KMSbear 3 years ago 2
Great Video
cnbc. com/id/26656750/site/14081545/
visionvictory 3 years ago
That is a great video. I like how the host kept interrupting Hennecke and asking with a puzzled look on his face "Just what do we put our money in?"
I find it funny/ironic that those who neither owe nor own much have a lot too lose. Kind of puts most everyone I know in a bind.
Trazom24 3 years ago
amazing video vv, thanks
sbmillionair 3 years ago
PrepNow 3 years ago
CHICAGO, Sept 11 (Reuters) - Campbell Soup Co (CPB) posted a higher quarterly profit on Thursday as price increases and newer products helped offset higher commodity costs.
The company also said sales growth in the just started 2009 fiscal year should exceed the company's long-term expectations, with earnings up 5 percent to 7 percent excluding unusual items.
TGSIII 3 years ago
You only told half the story.
Campbell Soup Co.'s (CPB) fiscal fourth-quarter net income rose 46% on revenue gains, but margins slipped amid continued increases for ingredient costs, and volume fell.
International sales rose 17% on the weaker dollar and extra week, as earnings jumped 50% amid strength in Canada.
So, now with the "strong dollar" how will revenue fair when there's ongoing consumer weakness in the US? Looks like they'll have to raise prices again to increase their margin.
Trazom24 3 years ago
People buying Campbell soup doesnt' seem very encouraging, its kind of like getting excited about spam breaking records lasts month. As people stay home instead of going out, it wouldn't surprise me at all to see some core food companies see an increase in volume.
visionvictory 3 years ago
Geez, cheer up. Yes, the economy is tight and will be tight for some time. The Gen Xers have run it up to artificial highs. It will correct and continue growing in a responsible manner as Gen Y takes over. History is on our side because we've seen this before and can prepare. The 1950's boom will repeat but not in such an explosive manner. Twenty years of good growth will result as the US has a very robust business/political interface.
kennethpace2 3 years ago
Gen Xers? You have to be kidding, right? Blaming one demographic is hardly the responsible thing, but if one were to do that there are other groups that deserve more than their fair share of the blame.
Maybe you don't know about the $50+ trillion liability due in the next 20 years, the crumbling infrastructre, or the $1 trillion federal deficit, to name a scant few? Google David Walker for starters.
Trazom24 3 years ago
Agreed. Nice reply.
Robust business/political interface are you joking? They are just full of crooks.
dbztiki 3 years ago
gen Xers parents are in debt to their eyeballs...i know several friends gen x parents who are begging their kids for help, are filing bankrupcy ect. gen xers have made a mess but most of theirs is unsecured credit and cars
centervilletn 3 years ago
3. Mr Gross�s fund, which side-stepped the housing market slide, had risen strongly before Sunday�s government bail-out. In the 12 months to August 1, the fund returned 9.2 per cent, beating all of its peers, according to fund tracker Morningstar"- Jim Sinclair Commentary
This is really sick. But than again, there were people that made fortunes in the first depression.
livefree1789 3 years ago
2...Mr Gross had made a big shift out of US Treasuries and corporate bonds over the past year and into agency bonds, betting that the government would support Fannie and Freddie Mac. By May this year, more than 60 per cent of his $132bn fund was in mortgage debt.
Mortgage-backed bond prices rose after the US government seized control of the agencies.
Mr Gross�s fund, which side-stepped the housing market slide, had risen strongly before Sunday�s government bail-out.
livefree1789 3 years ago
1.Bail-out hands Pimco $1.7bn payday
By Deborah Brewster in New York
"The Bill Gross-managed Pimco Total Return fund reaped a $1.7bn payday following the US government takeover of home loan giants Fannie Mae and Freddie Mac.
While shareholders in Fannie and Freddie suffered deep losses, the world�s biggest bond fund saw its highest ever one-day rise against its benchmark index on Monday, benefiting from the bet made by Mr Gross on mortgage bonds issued by the agencies...
livefree1789 3 years ago
"Rich Dad Prediction 2008" watch starting at 17 minutes in.
watch?v=FOKn7tiUMyc&feature=related
kidbilly1970 3 years ago
Great find kidbilly. I've seen it before, but seeing that part at 17 minutes seams right on. If what he's saying is true buy the end of this year or early next year hyperinflation will set in. They are just trying to keep a lid on this till after the election.
bdc03 3 years ago
bdc03, I will save that message. We will still in a deflationary enviornment by the end of the year. Hyperinflation is several years away, if at all.
A few hundred banks may fail, crude may go up, food prices may go up another 15% by end of the year, unemployment may be more than 20%, still that is not same as hyperinflation.
gods2fight 3 years ago
Watch "Rich Dad Predictions 2008". Robert Kiyosaki predicted 10 months ago that sometime during the precious metals bull run, that there will be a crash due to deflation. He said it would be short-lived and then hyperinflation would kick in soon after and precious metals will skyrocket. Buy gold/silver at this discount, its a gift.
kidbilly1970 3 years ago
I think once they quit playing games with the market and the fog clears out, there will be asset deflation & monetary inflation. Credit is going to be gone; anything bought with credit will deflate (homes, cars). However, the Fed will add more zeros into the computers and give that money to the few remaining banks, who will use it to bid up anything of value (commodities, agriculture, metals). The big boys will have everything and the little guy will be broke. No?
livefree1789 3 years ago
(continued). Deflation affects hard currency economies from what I understand. We are so far from that it is not even funny.
Also, in true deflation, there should be falling demand for PMs due to more scarcity of cash, more unemployment, etc. However, we have exploding demand on the street for physical metals. This is counterintuitive in a deflationary environment.
Trazom24 3 years ago
The demand for precious metals at the store front isn't the big market in them. PM prices are falling like a rock what are you talking about?
Ouirallwun 3 years ago
Yes PM prices are falling like a rock and it appears overdone. My problem with all this is that the street is much different than the economy. Yes I realize the street is a smaller market. But to say we have deflation is disengenuous. There is no deflation in the smaller markets, aka the street. It is only where the big boys play.
Trazom24 3 years ago
Check out Gata, several Asian countries are reporting major shortages of PM.
visionvictory 3 years ago
livefree1789, if what Mr. Coxe proposes is true, this means that commodities should shoot back up as fast as they've been shot down, once all the hedgers clear out. It's still not clear to me that they have.
What really bothers me about the deflation argument is that (from what I've read), in true deflation cash is king. However, cash had a different link to gold than it does now. Cash is not money any longer - it is debt. It is only a promise to pay.
Trazom24 3 years ago
Ok, apparently I can't cut and paste. I'm sorry. This article makes more sense if you go under 'view all comments" and read it from the top down. I thought it was interesting because the craziness going on in the market has nothing to do with fundamentals.
livefree1789 3 years ago
..The future is less certain, however. Now that Freddie and Fannie have been nationalized, the credit crisis is still very much alive and financial stocks are looking as shaky as ever. As for commodities, once the current storm passes, Mr. Coxe is confident they will recover."
livefree1789 3 years ago
..This was also in keeping with the Fed's wishes, because lower commodity prices would help quell fears about inflation.
Mr. Coxe has no proof that the Fed and Treasury acted in concert to boost financials and sink commodities. He is basing his assertions on conversations with hedge fund managers and on years of watching financial markets. "There's no doubt whatever in my mind" about what happened, he says.
livefree1789 3 years ago
..o dump oil, grains and other commodities.
The losses were swift and dramatic. On the Friday before the July 11 announcement, crude oil closed at $145.18 a barrel. Over the following five days, it plunged 11 per cent. "Leverage was being unwound dramatically," Mr. Coxe said on a conference call last week. "We had a true panic."As oil and other commodities were tumbling, fears about the slowing global economy were mounting, giving resources another push downhill.
livefree1789 3 years ago
..that culminated with the wrenching decline in commodities.
According to Mr. Coxe, the Fed's ultimate goal was to trigger a rally in financial stocks, which would, in theory, help banks hammered by the credit crisis raise fresh capital and repair their balance sheets. To accomplish this, the decision to support Fannie and Freddie was deliberately announced on a Sunday, which had the effect of maximizing the reaction from thinly traded financial stocks on overseas markets.
livefree1789 3 years ago
oops, this should follow the third 'comment' from the bottom...Because many hedge funds were using massive leverage to short financials and go long on commodities, when North American markets opened and banks initially rallied, the funds were forced to cover their short positions.
At the same time, the U.S. dollar was rallying because the risk of holding Fannie and Freddie paper had diminished. The rising dollar, in turn, made commodities less attractive,...
livefree1789 3 years ago
...Because many hedge funds were using massive leverage to short financials and go long on commodities, when North American markets opened and banks initially rallied, the funds were forced to cover their short positions.
At the same time, the U.S. dollar was rallying because the risk of holding Fannie and Freddie paper had diminished. The rising dollar, in turn, made commodities less attractive, giving funds that were already scrambling to cover their financial shorts another reason to dump ..
livefree1789 3 years ago
... giving funds that were already scrambling to cover their financial shorts another reason to dump oil, grains and other commodities.
livefree1789 3 years ago
Too many program traders and their computers going haywire, thats one of the things. Hard to trade these markets on any sort of fundamentals.
gods2fight 3 years ago