The "up-to-the-minute Market Data" thread

The debt just took another leap...


Debt for fiscal year starting October 1 2010 till September 1 2011 : 1.086 trillion or 3.2418 billion/day
Debt for calendar year 2011 till September 1 : 699.51 billion. 2.8668 billion/day
Current debt as of September 1 : 14.697 trillion
Current debt ceiling : 14.694 trillion (first phase) 15.194 trillion (second phase) 16.694 trillion (final phase)

At the current average rate of 3.0543 billion in new debt/day (or about 9.85$ in new debt per day for every citizen in America...and that is just federal) it will take about -1 day before reaching the first phase of the debt ceiling hike, aka August 31 or so.

Second phase reached on February 11, 2012. Third phase reached on June 17, 2013.

US GDP : 14.53 trillion
US debt : 14.697 trillion

Total debt to GDP ratio : 101.15%

But of course those numbers are unofficial... since it's not the numbers ``subject to the debt ceiling`` (which is total BS)... and the dates will certainly change... due to probably an acceleration of the deficits... due to the upcoming stimulus plan, bank bailout, wars, etc...

But I still think that the final phase will be reached only in the first half of 2013.


And the bond market is acting insane again...
Market Snapshot As 10Yr Drops Below 2%

Me thinks the SP500 has at least another 5% to lose...


Monday should be real bloody... in Europe... since the US ain't open. Canada ain't open either (good)...
Full FHFA Statement Disclosing Suits Against 17 Banks (Including Such Dead Man Walking As SocGen)

FHFA goes hog wild and potentially full retard in suing everyone, or specifically 17 global banks, up to an including such dead men walking as Barclays, RBS and SocGen. Oddly such crony capitalist favorites as Wells Fargo are suspiciously absent: we wonder what the cost of that particular Eureka moment was to the interested party. Either way, come Monday, this will get interesting when already scarce liquidity goes... poof.

Europe is pretty much screwed.

Unless there's some ``miracle`` that will only push the complete annihilation of these banks later during the week-end, I think we'll see big banks going down next week.

September 2008 Part 2 : Electric Bungaloo. This time with more explosions and more bankers jumping off windows!

Full FHFA Statement Disclosing Suits Against 17 Banks (Including Such Dead Man Walking As SocGen)

FHFA goes hog wild and potentially full retard in suing everyone, or specifically 17 global banks, up to an including such dead men walking as Barclays, RBS and SocGen. Oddly such crony capitalist favorites as Wells Fargo are suspiciously absent: we wonder what the cost of that particular Eureka moment was to the interested party. Either way, come Monday, this will get interesting when already scarce liquidity goes... poof. Full statement is below, while the link to all the individual law suits is here.

Me thinks they do that to put (massive) pressure on the European Banks,and to force the ECB to start printing Money to bail out those Banks because of this...after which comes QE3 for obvious Reasons.

And you know how the American Banks are gonna pay for those Lawsuits? With the Money they have from QE2...which wasn´t thrown at the Market to keep Inflation low...

Correct me if i´m wrong,but if they pay with the QE2 Money,and QE3 comes shortly after,wouldn´t those Lawsuits pretty much blow up in their Faces because of all that Money (from QE2 and QE3) now on the Market?


Edit: I need too much Time in writing my Posts...Vitch was faster. Anyway,my Question still stands.

reply to post by Shenon

Me thinks they do that to put (massive) pressure on the European Banks,and to force the ECB to start printing Money to bail out those Banks because of this

Which they can't do.... according to their chart. They could change it but they will not do so in time.

And you know how the American Banks are gonna pay for those Lawsuits? With the Money they have from QE2

Except, as it was said in the article... ``low liquidity is about to go poof``... aka they don't have a stinking cent to pay anything. BAC isn't selling all that is not nailed down for nothing.

QE3 won't save them. What they need is $$$ directly from the treasury... a few hundred billion should do the trick. That or somehow they win the lawsuits... and considering how corrupt the system is, it could very well happen.

Let's look at the banks sued :

1. Ally Financial Inc. f/k/a GMAC, LLC
2. Bank of America Corporation
3. Barclays Bank PLC (Tangible Common Equity 6nd worst in the world)
4. Citigroup, Inc.
5. Countrywide Financial Corporation
6. Credit Suisse Holdings (USA), Inc. (Tangible Common Equity 3nd worst in the world)
7. Deutsche Bank AG (Tangible Common Equity 2nd worst in the world)
8. First Horizon National Corporation
9. General Electric Company
10. Goldman Sachs & Co.
11. HSBC North America Holdings, Inc. (Tangible Common Equity 25nd worst in the world)
12. JPMorgan Chase & Co. (Tangible Common Equity 27nd worst in the world)
13. Merrill Lynch & Co. / First Franklin Financial Corp.
14. Morgan Stanley
15. Nomura Holding America Inc.
16. The Royal Bank of Scotland Group PLC (Tangible Common Equity 21nd worst in the world)
17. Société Générale (Tangible Common Equity 8nd worst in the world)

They are in pretty bad shape.

Total cost of the lawsuits :

# FHFA Sues Barclays over mortgage securities over losses for $4.9 billion: RTRS
# FHFA Sues Merrill Lynch Bank of Americal over mortgage securities over losses for $30.85 billion: RTRS
# FHFA Sues Nomura for $2 billion in losses: RTRS
# Federal housing finance agency sues Barclays over losses on $4.9 billion rmbs
# Federal housing finance agency sues Bank of America Corp over losses on more than $6 billion securities
# Federal housing finance agency sues bank of America's Merrill Lynch unit over losses on $24.85 billion securities
# Federal housing finance agency sues Nomura over losses on more than $2 billion securities
# Federal housing finance agency sues Citigroup Inc C.N - court filing Federal housing finance agency sues Citigroup Inc over losses on $3.5 billion securities

BAC is getting hammered... being sued for 55 billion?

reply to post by Vitchilo


Makes sense. Is this the Kill Switch to bring down Europe? Monday is Labor Day in the US...but Europe is open...and then there is the Sept. 7 Court Ruling on the Bailouts in Germany...Next Week is gonna get really,and i mean really,really,really interesting...

Originally posted by Vitchilo

Monday should be real bloody... in Europe... since the US ain't open. Canada ain't open either (good)...
Full FHFA Statement Disclosing Suits Against 17 Banks (Including Such Dead Man Walking As SocGen)

FHFA goes hog wild and potentially full retard in suing everyone, or specifically 17 global banks, up to an including such dead men walking as Barclays, RBS and SocGen. Oddly such crony capitalist favorites as Wells Fargo are suspiciously absent: we wonder what the cost of that particular Eureka moment was to the interested party. Either way, come Monday, this will get interesting when already scarce liquidity goes... poof.

Europe is pretty much screwed.

Unless there's some ``miracle`` that will only push the complete annihilation of these banks later during the week-end, I think we'll see big banks going down next week.

September 2008 Part 2 : Electric Bungaloo.

This time with more explosions and more bankers jumping off windows!

edit on 2-9-2011 by Vitchilo because: (no reason given)

Well, now we are seeing what was being said 'between-the-lines' when Bernanke at the Fed meeting @ Jackson Hole was saying about that its now time for Congress to step up to the plate.

The way i see it Bernanke & the Fed governors... knew full well that the Primary Dealers Banks that issued crap MBS & other fraud junk bonds were going to have to Make-Whole all those they robbed..
This $50. Billion lawsuits is only the tip of the iceberg with the bankers' malfeasance & outright corruption/fraud

The Fed hoped that their policy of harboring the toxic/fraudulent bonds on their balance sheet-- and buying back the toxic paper from Euro banks would allow the screwy financial system enough time to accrue wealth at the expense of the worthiness of the USD as the primary dealer banks borrowed money @ 0% and got 4% risk free intrest from the excess Fed Reserve Deposits and gamed the equity markets with the free access cash the Fed provided for the last 4 years (the QE1 & QE2 runups in the stock market & gold ETFs.)



both myself & max keiser have been waiting for the heads to roll !

let the lopping-off begin !

Next Week is gonna get really,and i mean really,really,really interesting...

by Shenon


yes, will the rule of law prevail or will laws be bent to the extreme to allow these vultures to continue?

reply to post by St Udio


I think the government will ``win`` those lawsuits... but then it will bailout those same banks. It'll be really ironic.

Is Zero Hedge working for you guys today, I keep getting err when I go to it.. I would like to see what Tyler says about this,,, Hope the GOV did not pull the plug on the Hedge, that would suck

It's a farce. They are creating time, and even children know time is money

The important thing about this show is that it implicates lawmakers are in control, which, obviously is not true.

Arab saying: He who has Hope has everything.

Hope is acquisition of time. Further inflating the bubble.

Originally posted by Vitchilo
reply to post by St Udio

 

I think the government will ``win`` those lawsuits... but then it will bailout those same banks.

It'll be really ironic.

Don´t be too sure about that. There are some Politicans who seemed to have turned against Merkel. And some of them supported her EU Bailout Political BS until a few Days ago...(maybe they know something we don´t..."hint hint")

I´d say there is a 50-50 Chance that they rule against it (since its against German Law anyway...) Add to that, that more and more People want her gone,not just the general Population...

Something is gona happen alright, why I feel like all of you, because is not everyday that your daughter (that works for a small local bank) comes homes and ask, "Mom did you know that the government is suing the big banks/. I guess the small bank she works at is even worry about what is going to happen.

The government needs money, the Federal Reserve needs money, I guess the money will have to come from somewhere, the SS is already been raided enough that is not more left (for the baby boomers) with almost 2 trillion dollars of Fed IOUs from the looting is nowhere else to turn, so lets sue the too big to fail now

Or, finish looting the SS fund and force the tax payer into later retirement and privatization of whatever is left of SS.

reply to post by St Udio


In the link that Vitchilo provided, I decided to read some of the bloggers, one of them posted a link with a comment, I open the link because I found very interesting his comment.

This is the link,

Buffett Increases Wells Fargo Stake, Buys Stocks ‘On Sale’

www.bloomberg.com...

Wells Fargo is not in the list, I wonder why.

You bet govt is out of money

www.bbc.co.uk...

Israelis hold renewed mass protests over living costs

At least 250,000 people joined the protests, with the main rallies in Tel Aviv, Jerusalem and Haifa, although some Israeli media put the turnout as high as 400,000.

The problem with globalization is "they" have neglected the fact that no government in history has ever un-failed, and bringing civilization to each corner of the Earth, meaning: applying debt economy, caught them all in one fish tank where there is no more air to breathe.

Even though plundering is still going on, like in colonization or slavery times, the internal system cannot be sustained because it has entangled itself into debt economy and is getting hungrier and hungrier as we speak.

Governing system is supposed to be service to banking and investing sectors. But, if corporations decide to abandon states (because they have become too expensive) as the main mechanism of ensuring distribution of wealth as it is, states will fight back, like at the time of Charlie the Schwortz, and Lords Templar might find themselves in beeaeeag trouble

Look at the Europe - unification means destruction of the states. Turning Europe into America, after all, may not work. We shall yet see, but something tells me, there is going to be a major scramble globewise.

Oh man,you Guys are gonna love this

Wikileaks Discloses The Reason(s) Behind China's Shadow Gold Buying Spree

Wondering why gold at $1850 is cheap, or why gold at double that price will also be cheap, or frankly at any price? Because, as the following leaked cable explains, gold is, to China at least, nothing but the opportunity cost of destroying the dollar's reserve status. Putting that into dollar terms is, therefore, impractical at best, and illogical at worst. We have a suspicion that the following cable from the US embassy in China is about to go not viral but very much global, and prompt all those mutual fund managers who are on the golden sidelines to dip a toe in the 24 karat pool. The only thing that matters from China's perspective is that "suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries towards reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB."

And something which ZeroHedhe reported a little earlier today...

Game Over? Senior IMF Official - "I Expect A Hard Greek Default This Year"

While the US was panicking over a double zero jobs report, things in Europe just fell off a cliff. As both the WSJ and Reuters report, it seems that the second Greek bailout, following repeated and consistent disappointments by Greece which has resolutely refused to comply with the terms of its fiscal austerity program, has just collapsed.And with the US closed on Monday: long a counterbalance to European risk pessimism, this week (especially with the news fro the latest FHFA onslaught against global banks) may just be the one that "it" all comes to a head. But back to Europe, and more specifically Greece, which it now appears is doomed.[...]

Oh,and the icing on the Cake,same Article:

[...]So is the worst bank some derelict husk of toxic assets like Barclays and RBS? Yes... RBS is certainly #2 in the top three highest reported Libors, or institutions that find it most difficult to procure USD funding. So who are the other two most troubled banks: SocGen? BNP? Bank of America? Nope...[...]

[...]That's right: CSFB and UBS. It appears that in a parody of Biblical allegory, the first shall indeed be last, as what was once a bastion of liquidity and solvency, Switzerland and its indomitable banks, is the first to topple should Greece finally be kicked out.

And should the two biggest Swiss indeed banks go out with either a bang or a whimper, then, well, all bets are off.

Ah,forget the best thing which came out Today (or Yesterday for some):

Euro bond would get weakest member's rating: S&P

(Reuters) - A joint bond issue by euro zone countries would get the weakest member's rating if the issue was jointly guaranteed, the head of Standard & Poor's European sovereign ratings said on Saturday.

Yes,Ladies and Gentlemen,we´re screwed


PS: You´re probably wondering why i´m laughing so much in my Posts lately...don´t worry,i´m already crying inside

reply to post by marg6043


interesting question on 'Wells Fargo' (in name only)


hasn't Buffet also bought into (NYSE: BAC) to the tune of $5 Billion in special 'perferred' shares

reply to post by Shenon


China has bought no only gold but natural resources from various countries, now when it comes ot gold, India and Saudi Arabia are big gold buyers also.

The only problem is that China can buy all the gold they want but it is actually Goldman Sach and cabals the ones that speculate and drive gold prices up, the same way they can bring the prices down.

Now as for Greece defaulting this is going to sink US more specially all those banks in the US that are up to their neck in the Greece mess, also it was tax payer dollars that pay for most of the Bailout that came from the IMF as US is the biggest funder.

reply to post by St Udio


Well I know that Buffet was getting a deal with from "helping" BOA, but I am not sure if he did the deal or not.

After all he did reap very good benefits whit the Tarp money give away. in 2008 so we know that he is not doing anything for nothing.

Who cares about natural resources any more? Let China have them all.
We have the BOSONS!

reply to post by marg6043


Didn´t China open its own Gold Exchange just recently? And you are right,the US Financial Elites can manipulate the Price of Gold,as we have seen in the last few Weeks. But i doubt they have much,if any,Ammo left to do it again.

reply to post by Shenon


Goldman Sach is bigger that we may think they are all over the Federal Reserve and actually their "protégées" are all over our government they are also well linked with the EU bank elite, if they want to squash the gold they will do it in heart beat.

And China will be running their own gold as worthless. But we know that that is not going to happen too drastically.

See is not gold what runs the world is oil, we most thank the US for that one also, China doesn't have any, but we do, and while propaganda is been used to tell us that we don't have enough, look who is the biggest foreign company drilling our best wells in the Gulf and Alaska, BP an UK company, why? because they have none and like that they can also hold the power of oil in the world, after all they are Americas best friend.

People debate about the dollar, but as long as US produces oil our dollar is not going anywhere.

September 7 will be the day to watch with the German supreme court decision on the legality of the bailouts.

If they say it ain't constitutional... kabooooooooooooooooom. The Euro goes bust.

I doubt it will happen... since the court has probably been bought/threatened... rule the way we want or you and your family are history....

Even if that is settled... doesn't matter : Greece is still going down... bringing down Switzerland and France down with them.

Even if that is settled... doesn't matter : Italy is still in big big trouble and can go bust at any moment.

Even if that is settled... doesn't matter : Big banks in the US are bankrupt and being sued, they can go down at any moment.

Even if that is settled... doesn't matter : Ben Bernanke, Geithner, a corrupt congress, a corrupt supreme court, a corrupt White House and a corrupt bunch of attorney generals are still running the show and are still insane.

Either way you cut it, one way or the other, economic doom is upon us... the only question is when.

To fix all of this you need three things : A RULE OF LAW, SANE FISCAL POLICY and TIME. Given these 3 things, all will be solved. But the chances of that happening unless we have a revolution = 0.

And now a lesson in treason 101 :