Another thing about Insurance Companies and Annuities is that not 1 insurance company is insuring your policy, there are 10 companies insuring your policy! If one or several fail than that is where the other pick it up! For every $ you invest with an Insurance company they have 4$ to cover it.
I have a question about gold and silver in the midst of a Depression? How do you make change with people who do not have gold or silver? Do you just buy as much as your gold or silver will buy at one time?
And another question. How are you going to know the value of gold or silver if all goes to hell in a hand basket? the Internet vanishes from your life and the TV is no longer working?
If it comes down to this, I can see the government coming in and confiscating all the gold and silver and prices would be according to $$'s only.
"Die Finanzdeputation" That does sound pretty serious.
Yeah, the darned note doesn't have "Reichsbanknote" on it like the other ones did - I'm not sure if it's because the note came from a different province or because the Reichsbanknotes were being obsoleted.
My guess is that some new dude was deputized as the new finance guy in charge of inflated currency, and he forgot to put the official name "Reichsbanknote" on the note?
I think that his name was Bernake, or something like that...........
Q: Are You Printing Money? Bernanke: Not Literally
I have a question about gold and silver in the midst of a Depression? How do you make change with people who do not have gold or silver? Do you just buy as much as your gold or silver will buy at one time?
And another question. How are you going to know the value of gold or silver if all goes to hell in a hand basket? the Internet vanishes from your life and the TV is no longer working?
Welcome to the world of barter negotiation.
Q: Are You Printing Money? Bernanke: Not Literally
I'd guess that metals will be going up a little faster in the near future because of the decision today to bail out more of the big financial lenders with taxpayer money. As this gets added to the debt, the stock market may take a small temporary jump, but it's all window dressing for the real economic problem - the dollar and markets will fall in the long term because of debt, making metals a better safe haven than most other investments IMHO.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Welcome to the world of barter negotiation. >>
The government will need to find a way to tax this if it's ever going to be widespread and legal.
But yeah, in theory, if it is TEOTWAWKI, you do what you have to do in order to eat. >>
I give up. What's TEOTWAWKI stand for?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
yowza, did you just see the tank on the S&P500...1252 open and now down to 1228. All that "exuberance" buying has fallen flat. Me thinks fannie and freddie realities setting in.
no one is believing the "damage control" anymore...well a few
RR, cohodk and other....is the PPT caput? Do they think maybe it's better to just hang onto it rather than dump it....????
a side note everybody (me included) was driving under 70 this AM on the way to work, less a few yahoo's; late or raging, normaly the stretch is 80+ and no CHiP's (CA Highway Patrol) roaming either.
"The Bush Administration bailout as laid out yesterday would result in the American taxpayer covering the debt for both the foreign central banks and other holders of Fannie and Freddie debt." "Ultimately, if you have to use taxpayer money, that's an investment that may work out most conveniently" said Mr. Naroff of Naroff Economic Advisers. Conveniently? For who?
Why do I have the feeling that I'm not going to be "convenienced."
On the flip side, does that mean we can prosecute the FED and Treasury chiefs, as well as bankers and brokers who obviously state one thing for the press, and another thing to their own charges? The FED keeps saying that they're fighting inflation yet they are the sole source for all of our inflation needs. They do not support a strong dollar policy either or they would be raising interest rates.
The other tool of the FED is the naked short selling of their broker buddies. Regardless of the discount window they can attempt to knock down whatever they choose by selling short and not handing over any shares. The PPT decided to hang back for now and probably let this momentum run towards $1000 and then jump in on the black box hedge fund selling to give a double pounding effect on the way down. Once those automatic sell stops get hit, the selling feeds on itself. And all of that can be stampeded by only selling a few choice miners or the ETF's short. That ETF is the 3rd leg of the manipulators. They can dump gold whenever they feel it will help.
Wait until around Dec and Jan when people have to pay their heating bills and buy food and pay their morgage and electric bills and I heard that gas will be 8$ a gallon....I wonder if Rome fell this way! What is this world coming to?I think there is going to be many vacant properties and many households bunched together in order to make ends meet!
PTT: Oil could hit $300 a barrel source: Bkk Post July 13 2008
Firm warns Gulf war will make price soar
The country's largest oil and gas company PTT Plc sees the prospect of world crude prices reaching a previously unthinkable US$300 per barrel if tensions in the Middle East escalate. Tevin Vongvanich, PTT's senior executive vice-president for corporate strategy and development, said yesterday that Iran's missile tests have had some negative effects on the oil market.
The price of refined oil in Singapore rose by more than US$6 a barrel on Friday, making a decline in local fuel prices unlikely next week as anticipated.
Mr Tevin said global oil market analysts are concerned that if Iran is attacked by Israel and carries out its threat of retaliation by blocking oil shipments through the Strait of Hormuz in the Persian Gulf, it would probably result in world crude prices skyrocketing to $200 to $300 per barrel.
A local oil industry source said if crude prices continue to climb at a steady rate, he won't be surprised to see local pump prices reach 56-80 baht per litre.
Mr Tevin said oil speculators were mainly to blame for the difficult situation as they have found a hedge in oil from the weakening dollar.
Crude prices should be fluctuating between $70 to $80 per barrel, he said.
Global oil prices spiked on Friday closing at nearly $147 a barrel. The price for August delivery jumped $5.25 to $146.90 on the New York Mercantile Exchange, the price in Dubai jumped by $6.25 to 139.05.
Finance Minister Surapong Suebwonglee said yesterday the government does not want to see both deflation and inflation occur at the same time due to an increase in consumer goods prices caused by rising oil prices. He said the government was doing everything within its power not to let that happen.
He called on the Bank of Thailand's Monetary Policy Committee to be cautious and listen to expert opinions before deciding to raise its benchmark interest rate at its meeting on Wednesday.
Analysts have forecast the committee will raise the interest rate to curb inflation which reached 8.9% in June.
The Finance Ministry has opposed the rate increase, arguing that if it is raised, it would only put the economy under more pressure.
Speaking of concern over a possible tight money situation in the country during the second half of 2008, a condition which could cripple the industrial and financial sectors, Mr Surapong said he is optimistic that if the government is able to tackle the inflation crisis, liquidity would improve.
There was a news story tonight showing an older fellow who had 250K in an account at Indymac. It's only insured to 100K ( FDIC ) and beyond that they pay only 50%.
One would expect something like that in some third world Bahamian bank or similar.
Good idea to check your accounts and make changed where appropriate.
Here is a excerpt from the Kimberly Clark earnings conference call...
"the shortfall in adjusted earnings per share versus its previous guidance was driven primarily by the rapid escalation in costs that occurred during the second quarter. Inflation was ~$50 million higher than estimated heading into the quarter, with the greatest increases in energy costs, particularly natural gas, oil-based materials and distribution costs."
Kimberly is a large consumer products company that makes products such as Huggies, Kotex, Kleenex, Cottonelle, Viva,...or basically everyday use products. So far, their shareholders have suffered the brunt of higher energy costs as corporate earnings have suffered and the stock has dropped from 72 to 59 over the last year. It is already trading down another $4 in after hours trading. Eventually KMB will cease eating the higher costs and begin to pass them on to YOU.
You cannot have a prosperous middle class and socialism. Cannot be done. You cannot mix an immoral failed theory such as socialism and hope for the continuation of a moral, well educated society. It doesn't mix. These problems that some are trying to pass off on the demise of the real estate market go way beyond real estate. The problems in the real estate, banking, credit markets are only symptoms of the greater problems that are not going to go away unless the disease is dealt with. And it's not being dealt with.
So take some time, check your accounts, take appropriate action NOW and hopefully you will lessen the burdens that are coming . Those burdens are in addition to the 4 buck a gallon of gas ( we paid $4.25 today while driving from Port Charlotte to Ft Lauderdale and watched in total disgust the laying of SOD along Intertstate 75 for more than 60 MILES ).
Thanks to all you great posters. I consider all of you part of my brain trust. I feel many of the same sentiments expressed here. I feel the pain for many who still have their heads in the sand.
Bear, your posts are appreciated and have noticed a more solemn tune in the past year. I read them and ponder.
With this weekends added step toward market socialism with F&F, it's just a matter of time that we will get leadership to put the final nail in our constitutional coffins.
We may wake up next spring to the sounds of a new USSA, the Union of Socialist States of America.
Looks like we have been gotten without a shot! History I guess everyone says who needs it! Why study history if it has no point! There will be a revolution here in this country,people are not going to stand for it.!!!
Your Tired, Poor and Hungry are gonna revolt! My mother says don't worry about it this is America it is gonna get fixed! I said with what....I say put barbed wire around the whole United States, shut us off from the world and let us have at it! I bet those Medicare and Social Security Lines will be shortened shortly. Also those who turned a blind eye to all of this....what did they do to Saddam! This is Treason!!!!
When I start to see websites like this pop up, I cant help but think we may be close to a bottom. >>
It's your money, good luck. I think this is much worse than the dot com bust back in 2000 and we'll see the market drop to the 8k range on the DOW this week. Just too much data not being released and no stright answers. I don't see your average investors flocking back into stocks soon too many remember the dot com bust and losing half there retirements.
<< <i>I don't see your average investors flocking back into stocks soon too many remember the dot com bust and losing half there retirements. >>
Then, as now, stay diversified.
Many people forget that in the 2000-2002 dot-com meltdown, many sectors of the stock markets did well. Small cap stocks did very well. REITs did very well. Emerging markets did fairly well. And gold mining stocks shot up during that time.
I was more than 70% invested in stock funds and ETFs at that time, but because I allocated a portion to all of these assets I only lost about 7% -- total -- in 2001 and 2002, compared to a one-third haircut on the S&P 500 and more than a 50% whack to the Naz.
The difference here is that other than bets against the dollar -- commodities and some foreign currencies -- NOTHING in the conventional stock market is working now, which is a huge difference between now and then. Back then the problem was more related to a segment of the market being severely overvalued rather than extreme systemic risk. Although that 2000-02 tech wreck did provide the main cause of this current mess -- Easy Al's cheap money and easy credit.
Sometimes when people try to pick bottoms they end up with just a stinky finger.
Commodities getting blown up. As I posted int he last week, with China slowing manufacturing and KMB suffering due to high energy costs, the current price of oil is unsustainable. And as Jim Rogers said yesterday, oil has been in a bull market since 1999 and it has had 3 corrections of 40% since. The bull in oil may not be dead, but he is very very tired.
Comments
And another question. How are you going to know the value of gold or silver if all goes to hell in a hand basket? the Internet vanishes from your life and the TV is no longer working?
If it comes down to this, I can see the government coming in and confiscating all the gold and silver and prices would be according to $$'s only.
Not a nice thought at all!
Yeah, the darned note doesn't have "Reichsbanknote" on it like the other ones did - I'm not sure if it's because the note came from a different province or because the Reichsbanknotes were being obsoleted.
My guess is that some new dude was deputized as the new finance guy in charge of inflated currency, and he forgot to put the official name "Reichsbanknote" on the note?
I think that his name was Bernake, or something like that...........
I knew it would happen.
And another question. How are you going to know the value of gold or silver if all goes to hell in a hand basket? the Internet vanishes from your life and the TV is no longer working?
Welcome to the world of barter negotiation.
I knew it would happen.
Thank goodness for fractionals!
<< <i>Welcome to the world of barter negotiation. >>
The government will need to find a way to tax this if it's ever going to be widespread and legal.
But yeah, in theory, if it is TEOTWAWKI, you do what you have to do in order to eat.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
<< <i>Welcome to the world of barter negotiation. >>
The government will need to find a way to tax this if it's ever going to be widespread and legal.
But yeah, in theory, if it is TEOTWAWKI, you do what you have to do in order to eat. >>
I give up. What's TEOTWAWKI stand for?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>
I give up. What's TEOTWAWKI stand for? >>
The End Of The World As We Know It.
<< <i>I give up. What's TEOTWAWKI stand for? >>
The End Of The World As We Know It.
<< <i>
<< <i>I give up. What's TEOTWAWKI stand for? >>
The End Of The World As We Know It. >>
yowza, did you just see the tank on the S&P500...1252 open and now down to 1228. All that "exuberance" buying has fallen flat. Me thinks fannie and freddie realities setting in.
Ren
Wow, another zapping of Fannie and Freddie stocks right after the Open bounce. I figured they'd be up for at least one day.
no one is believing the "damage control" anymore...well a few
RR, cohodk and other....is the PPT caput? Do they think maybe it's better to just hang onto it rather than dump it....????
a side note everybody (me included) was driving under 70 this AM on the way to work, less a few yahoo's; late or raging, normaly the stretch is 80+ and no CHiP's (CA Highway Patrol) roaming either.
<< <i>RR is the PPT caput? Do they think maybe it's better to just hang onto it rather than dump it....???? >>
The PPT's primary weapon was the Fed Funds rate, and they've pretty much run out of that arrow in their quiver.
Why do I have the feeling that I'm not going to be "convenienced."
Ren
<< <i>Why do I have the feeling that I'm not going to be "convenienced." >>
Oh, you'll be convenienced, all right. You just won't like it.
SEC to Probe Manipulation Through False Information (Update2)
<< <i>
<< <i>RR is the PPT caput? Do they think maybe it's better to just hang onto it rather than dump it....???? >>
The PPT's primary weapon was the Fed Funds rate, and they've pretty much run out of that arrow in their quiver. >>
thanks Ziggy
The other tool of the FED is the naked short selling of their broker buddies. Regardless of the discount window they can attempt to knock down whatever they choose by selling short and not handing over any shares. The PPT decided to hang back for now and probably let this momentum run towards $1000 and then jump in on the black box hedge fund selling to give a double pounding effect on the way down. Once those automatic sell stops get hit, the selling feeds on itself. And all of that can be stampeded by only selling a few choice miners or the ETF's short. That ETF is the 3rd leg of the manipulators. They can dump gold whenever they feel it will help.
roadrunner
<< <i>OK, I knew what TEOTWAWKI was. What's PPT? Thanks. >>
Plunge Protection Team
<< <i>
<< <i>Why do I have the feeling that I'm not going to be "convenienced." >>
Oh, you'll be convenienced, all right. You just won't like it. >>
I just hope it doesn't require me to hold on to my ankles while be "convenienced."
Ren
<< <i>
<< <i>OK, I knew what TEOTWAWKI was. What's PPT? Thanks. >>
Plunge Protection Team
yup exactly
central bank market support teams, who "coined" it the PPT, though??
<< <i>OK, I knew what TEOTWAWKI was. What's PPT? Thanks. >>
We corporate cube-dweller types would say it's a Powerpoint file.
The term (and the group itself) came into use after the stock market crash in 1987, as I recall.
I knew it would happen.
between a rock and a hard place. No matter what is
done to, or for the economy, the results all have a most
detrimental effect that is known as well as unintended
effects that are as yet unknown.
Since the economic negative effects are world wide, it would
seem that we are all in the soup together. Those who have followed
this thread are positioned about as well as is possible for the tsunami
thqat will come. That preparation will not be perfect and while suffering
will be in store, it is hoped that for those prepared, the suffering will be
less severe.
Major disruptions are in store for the production and transportation of oil.
This is assured because too many political entities and Nations wish it to
happen. If the USA were more forward thinking, wells and drilling rigs should
be prepared , paid for by the government and capped ,in order to immediately
bring them on line to supplement the National Strategic Reserve of 1 billion Gallons.
New refineries should also be prepared by the government, to bring on line during
a National emergency.
The Nation should once again build and pay for huge storage facilities of grains and
food stuff like cheese. If global warming is truly coming, we shall suffer droughts and
crop failures in our mid west grain belts. Much like the Biblical Story of Jacob and the Egyptian
rulers dream of seven fat cows and seven lean cows. The lean and starving cows ate the fat cows
and yet remained thing and starving in appearance.
The government should begin to build and pay for enormous purification instillations to turn sea water
into potable water for drinking and irrigation. These preparations will cost trillions of dollars and yet, it
may be our salvation in the decades that are to come.
Camelot
source: Bkk Post July 13 2008
Firm warns Gulf war will make price soar
The country's largest oil and gas company PTT Plc sees the prospect of world crude prices reaching a previously unthinkable US$300 per barrel if tensions in the Middle East escalate. Tevin Vongvanich, PTT's senior executive vice-president for corporate strategy and development, said yesterday that Iran's missile tests have had some negative effects on the oil market.
The price of refined oil in Singapore rose by more than US$6 a barrel on Friday, making a decline in local fuel prices unlikely next week as anticipated.
Mr Tevin said global oil market analysts are concerned that if Iran is attacked by Israel and carries out its threat of retaliation by blocking oil shipments through the Strait of Hormuz in the Persian Gulf, it would probably result in world crude prices skyrocketing to $200 to $300 per barrel.
A local oil industry source said if crude prices continue to climb at a steady rate, he won't be surprised to see local pump prices reach 56-80 baht per litre.
Mr Tevin said oil speculators were mainly to blame for the difficult situation as they have found a hedge in oil from the weakening dollar.
Crude prices should be fluctuating between $70 to $80 per barrel, he said.
Global oil prices spiked on Friday closing at nearly $147 a barrel. The price for August delivery jumped $5.25 to $146.90 on the New York Mercantile Exchange, the price in Dubai jumped by $6.25 to 139.05.
Finance Minister Surapong Suebwonglee said yesterday the government does not want to see both deflation and inflation occur at the same time due to an increase in consumer goods prices caused by rising oil prices. He said the government was doing everything within its power not to let that happen.
He called on the Bank of Thailand's Monetary Policy Committee to be cautious and listen to expert opinions before deciding to raise its benchmark interest rate at its meeting on Wednesday.
Analysts have forecast the committee will raise the interest rate to curb inflation which reached 8.9% in June.
The Finance Ministry has opposed the rate increase, arguing that if it is raised, it would only put the economy under more pressure.
Speaking of concern over a possible tight money situation in the country during the second half of 2008, a condition which could cripple the industrial and financial sectors, Mr Surapong said he is optimistic that if the government is able to tackle the inflation crisis, liquidity would improve.
BANGKOK POST AND THAI NEWS AGENCY.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
One would expect something like that in some third world Bahamian bank or similar.
Good idea to check your accounts and make changed where appropriate.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
"the shortfall in adjusted earnings per share versus its previous guidance was driven primarily by the rapid escalation in costs that occurred during the second quarter. Inflation was ~$50 million higher than estimated heading into the quarter, with the greatest increases in energy costs, particularly natural gas, oil-based materials and distribution costs."
Kimberly is a large consumer products company that makes products such as Huggies, Kotex, Kleenex, Cottonelle, Viva,...or basically everyday use products. So far, their shareholders have suffered the brunt of higher energy costs as corporate earnings have suffered and the stock has dropped from 72 to 59 over the last year. It is already trading down another $4 in after hours trading. Eventually KMB will cease eating the higher costs and begin to pass them on to YOU.
Knowledge is the enemy of fear
EDIE
This is only the beginning .
You cannot have a prosperous middle class and socialism. Cannot be done. You cannot mix an immoral failed theory such as socialism and hope for the continuation of a moral, well educated society. It doesn't mix. These problems that some are trying to pass off on the demise of the real estate market go way beyond real estate. The problems in the real estate, banking, credit markets are only symptoms of the greater problems that are not going to go away unless the disease is dealt with. And it's not being dealt with.
So take some time, check your accounts, take appropriate action NOW and hopefully you will lessen the burdens that are coming . Those burdens are in addition to the 4 buck a gallon of gas ( we paid $4.25 today while driving from Port Charlotte to Ft Lauderdale and watched in total disgust the laying of SOD along Intertstate 75 for more than 60 MILES ).
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Bear, your posts are appreciated and have noticed a more solemn tune in the past year. I read them and ponder.
With this weekends added step toward market socialism with F&F, it's just a matter of time that we will get leadership to put the final nail in our constitutional coffins.
We may wake up next spring to the sounds of a new USSA, the Union of Socialist States of America.
Ren
mrearlygold, those are some poetic and prophetic words...had to read them twice.
Ren
I bet those Medicare and Social Security Lines will be shortened shortly. Also those who turned a blind eye to all of this....what did they do to Saddam! This is Treason!!!!
Bank Implode
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Bank Implode Dot Com
Bank Implode >>
When I start to see websites like this pop up, I cant help but think we may be close to a bottom.
Knowledge is the enemy of fear
<< <i>
<< <i>Bank Implode Dot Com
Bank Implode >>
When I start to see websites like this pop up, I cant help but think we may be close to a bottom. >>
It's your money, good luck. I think this is much worse than the dot com bust back in 2000 and we'll see the market drop to the 8k range on the DOW this week. Just too much data not being released and no stright answers. I don't see your average investors flocking back into stocks soon too many remember the dot com bust and losing half there retirements.
<< <i>When I start to see websites like this pop up, I cant help but think we may be close to a bottom. >>
It reminds me of the "F****d Company" site during the dot-com bust.
<< <i>I don't see your average investors flocking back into stocks soon too many remember the dot com bust and losing half there retirements. >>
Then, as now, stay diversified.
Many people forget that in the 2000-2002 dot-com meltdown, many sectors of the stock markets did well. Small cap stocks did very well. REITs did very well. Emerging markets did fairly well. And gold mining stocks shot up during that time.
I was more than 70% invested in stock funds and ETFs at that time, but because I allocated a portion to all of these assets I only lost about 7% -- total -- in 2001 and 2002, compared to a one-third haircut on the S&P 500 and more than a 50% whack to the Naz.
The difference here is that other than bets against the dollar -- commodities and some foreign currencies -- NOTHING in the conventional stock market is working now, which is a huge difference between now and then. Back then the problem was more related to a segment of the market being severely overvalued rather than extreme systemic risk. Although that 2000-02 tech wreck did provide the main cause of this current mess -- Easy Al's cheap money and easy credit.
i have the enitre document (a 13 page pdf and 10 or so are charts) if any one is interested send a PM with an email addy
The author is a banking analyst for Ladenburg Thalmann.
spin or not?
Analysts say more U.S. banks will fail
Foreclosures Rose 53% in June, Bank Seizures Tripled
Ttown,
Banks may still be in trouble, but banks stock prices may be probbing for a bottom.
Knowledge is the enemy of fear
I find that my probe just isn't long enough.
Camelot
Commodities getting blown up. As I posted int he last week, with China slowing manufacturing and KMB suffering due to high energy costs, the current price of oil is unsustainable. And as Jim Rogers said yesterday, oil has been in a bull market since 1999 and it has had 3 corrections of 40% since. The bull in oil may not be dead, but he is very very tired.
Knowledge is the enemy of fear