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Originally posted by GreenBicMan
reply to post by time91
You aren't getting it yet.
What makes the metals market so much more important than lets say the Sugar Market or Lean Hogs?
Don't you think it would be to the Fed's advantage to manipulate the markets with the least volume? Then take this money and either buy or sell dollars or move the US DX? Do you understand how much money flows through these markets and how impossible it would really be to unload the positions that would require this massive undertaking?
Look at these performances over the last quarter.. Data There is nothing special about gold or anything, all commodities move like this. And yet you still try and talk down to me? You can think of me as your god for now. Because I am miles past you and have probably done more research into global securities markets last week than you have in your entire life.
You haven't put any research into this, because if I really wanted to take the time to pull all the charts and totally pwn you I would. In reality, you have a long way to go. GL on your journey. Make sure if you ever have an opportunity for advancement in the financial industry you don't start with this in the interview.
In the end, here are the facts.
1) You have done no research. Reading ZeroHedge doesn't count.
2) You don't really grasp the flow of money from non-liquid contracts as opposed to liquid ones.
3) You have no idea what the derivative market is about. For a real explanation and a firm understanding you should visit the CME's website.
4) The US DOLLAR isn't in a bubble. What is the matter with you?
5) I don't really doubt the existance of the PPT. More like JPM and friends.
6) There ARE FAR BETTER THINGS TO MANIPULATE THAN GOLD PRICE WHICH HAS ABSOLUTELY NO #ING BEARING ON THE US ECONOMY.
[edit on 22-7-2010 by GreenBicMan]
...Some analysts are already arguing that the tests were not strict enough.
"What seems to have occurred is a compromise amongst European banking regulators, with many questioning if the bar had been set way too low in testing the European banking sector," said Mark O'Sullivan of foreign exchange firm Currencies Direct.
"It seems the tests may have raised more questions than they have answered and in the coming weeks, it will be the interbank lending markets that will have the real answer as to whether real confidence has returned to the European banks."
The UK's four major banks - RBS, Lloyds, HSBC and Barclays - were among the banks tested and all passed the tests, which were carried out by the Financial Services Authority (FSA) on behalf of the EU.
"As expected, the outcomes of the stresses demonstrate the preparedness and resilience of the UK banks under unlikely adverse economic scenarios," the FSA said.
"This resilience is a result of the considerable work that has been undertaken to strengthen UK banks in recent years."
The US Dollar is in a bubble?
Alarms, detectors disabled so top rig officials could sleep
The Deepwater Horizon's fire and gas leak alarms were disabled for at least a year to prevent false alarms from waking up rig leaders, a chief engineer told federal investigators.
“The US is insolvent and faces bankruptcy as a pure debtor nation but the rating agencies still give it high rankings,” Mr Guan Jianzhong, chairman of Dagong Global Credit Rating said in a recent interview.
Next week, as part of the Democrat’s “Make it in America” plan, the House of Representatives will vote on a measure designed to compel lawmakers to tackle the contentious issue of the nation’s ever-increasing trade deficit.
The End the Trade Deficit Act, introduced over a year ago by Rep. Pete DeFazio (D-OR), has languished in the House Way and Means committee without receiving a single hearing. But in an effort to turn their focus to job creation ahead of November’s midterm election, the bill will finally receive a vote.
“We need a trade overhaul to help our nation export goods, not jobs,” DeFazio said in a press release. “The world is not forever going to lend us money to buy things that we used to make here. And as we impoverish more and more of the middle class by exporting their jobs, we're going to have even less capability of buying those goods. Something has to change.”
What China's Reapplication to the WTO Procurement Group Means,
“China offered to increase foreign companies' access to its government purchases as it seeks to overcome international complaints that it discriminates against foreign vendors, but analysts said the move still may not go far enough toward easing their concerns,”Loretta Chao wrote in a July 20 article.
Foreign investors criticized China’s government for its rules governing access to its massive government-procurement market, which prompted the new proposal. The offer, presented in the form of a new, revised proposal for membership in the WTO’s Agreement on Government Procurement (GPA), which requires nondiscriminatory access to government purchases, follows an initial proposal that was rejected in 2007.
Though the U.S. and other WTO members rejected China’s first proposal, China’s current offer addresses a number of complaints about the 2007 proposal. “It reduces a requested transition period for implementing the agreement to five years from 15 years, for example, and also adds 15 more central-government agencies whose purchases are covered by the agreement.”
Goldman Threatened with Audit over Derivatives
Goldman Sachs is facing a threat by the Financial Crisis Inquiry Commission to bring in outside accountants to comb through the bank’s systems for data on its derivatives business, the panel’s chairman has said.
The commission will not back down from demands for information Goldman’s executives have maintained they do not track, Phil Angelides told the Financial Times.
With the assumptions and conditions for the stress test pulled straight out of CEBS' collective bottom, it is no surprise that a mere 7 banks for a total $246 billion in affected assets end up being defined as undercapitalized. But what happens when instead of using a 6% Tier 1 capital threshold, a Basel III 8% Tier 1 is used? Something log scale worse. As Austrian Der Standart journalist Lukas Sustala points out, and as demonstrated on his chart below, the failure rate goes up exponentially: instead of 7 banks failing, 39 of Europe's biggest banks would be undercapitalized, and the impaired assets would amount to a whopping E2.6 trillion
Mainichi: The decades since the bubble burst is being called Japan's "lost 20 years." What do you think about that?
Tadashi Yanai: I think Japan has been economically defeated. The United States has annual growth of 3-4 percent, and emerging economies growth of close to 10 percent. Meanwhile, over the past 20 years Japan has for the most part not seen any growth at all. The nation's finances are also on the verge of collapse. If the market turns on us, I think there is a serious danger of Greece-like national bankruptcy. Foreign investors are going from having no interest in Japan, to worrying that the Japanese economy will never recover, that Japan is "crashing." I think Japan is on the precipice.
In yet another example of America’s economic weakness, the Federal Deposit Insurance Corporation seized seven banks on Friday, bringing the total number of failed banks to over 100 already this year.
Banks in Florida, Georgia, South Carolina, Kansas, Nevada, Minnesota and Oregon were seized. The total cost to the FDIC to wind down the seven banks with $2 billion in assets is expected to be $431 million.
The seven closures bring the year’s total to 103 banks that have succumbed to the poor economic environment. A this time last year, the FDIC had seized 64 banks. Overall, 140 were shut down last year by federal regulators, the highest total since 1992.
Goldman Sachs Group Inc. documents, released by Senator Chuck Grassley, show that the investment banking and securities firm paid out $4.3 billion of American taxpayer money to foreign companies.
The foreign companies received the money as a reimbursement from Goldman Sachs for losses on investments in credit default swaps. These swaps were initially sold by AIG to Goldman Sachs, who in turn sold them to customers including foreign banks and companies. When the government, to the tune of $182.5 billion, bailed out AIG, Goldman Sachs was the recipient of $12.9 billion of that money indirectly. Much of the bailout money “given” to AIG consisted of funds used to pay its obligations to its Wall Street trading partners on credit default swaps, with Goldman Sachs being the biggest recipient.