RED ALERT: FX Dislocation In Process

UPDATE 1-BofA, Citi shares fall on nationalization fear
Thu Feb 19, 2009 2:16pm EST
www.reuters.com...

I'm trying to confirm this....

reply to post by Power_Semi


Hate to tell ya, but the economies are already destroyed.

Maybe on your side of the pond Bank Nationalization is a popular idea, but here in the colonies, we don't want that. We'd rather see them FAIL and have to write off the bad debt through the bankruptcy and restructuring process than stick the taxpayer with even 1 more cent of the cost.

We are kinda funny about that. Ya know...

It's not enough that the banks charge US for the honor of holding our money, now they want us to pay for their bad business decisions too.

Screw that

reply to post by Hx3_1963


But... But... The FED says Nationalization is off the table

Okay - who's the liar here???

reply to post by Power_Semi


Society was always about this.
When the strong in wisdom appear, they are immediately ousted...

OK, OK, I'll try Heraclitus this time. No more Zen

Fascination by the river's flow - try Guy Debord: The Society of the Spectacle.

We await something spectacular to occur (like a Big Bang) but it never happens. All that happens is a continuous flow "upwards" and "downwards", and so on in cycles.

Thus we notice that Sun is circling around the Earth.

Yeah right!

RUT ROH!!!

Feb. 20 (Bloomberg) -- Asian investors won’t buy debt and mortgage-backed securities from Fannie Mae and Freddie Mac until they carry explicit U.S. guarantees, similar to those given on bonds issued by Bank of America Corp. or Citigroup Inc.

The risks are too great without a pledge that the U.S. will repay the debt no matter what, according to Hideo Shimomura, chief fund investor in Tokyo for Mitsubishi UFJ Asset Management Co., and other bondholders and analysts in Japan, China and South Korea interviewed by Bloomberg. Overseas resistance may hamper U.S. efforts to hold down home-loan rates and rebuild the nation’s largest mortgage-finance companies.

Even after President Barack Obama vowed on Feb. 18 to sink as much as $400 billion of capital into Fannie Mae and Freddie Mac, double the original commitment, “there is still a concern that there is no guarantee” from the government, said Shimomura, who oversees $4 billion in non-yen bonds for the arm of Japan’s largest bank.

“Looking at the risk, they’re not so attractive,” he said. “We need a guarantee before we’ll buy.”

Foreign investors sold $170 billion of agency debt and securities in the second half of 2008, the largest amount since the Treasury began tracking sales in 1977, according to the most recent data. Asians, the biggest non-U.S. block of owners in the category, unloaded $70 billion worth from July through December, after scooping up $55 billion in the second quarter and being net buyers during much of the last decade.

The sell-off and calls for a guarantee reflect a continuing lack of confidence among foreign investors five months after the U.S. seized control of Fannie Mae and Freddie Mac. The takeovers followed the biggest surge in mortgage defaults in three decades.

Bloomberg

Originally posted by redhatty
reply to post by Power_Semi

 

It's not enough that the banks charge US for the honor of holding our money, now they want us to pay for their bad business decisions too.

Screw that

When will you learn that banks NEVER make bad business decisions?
They only pretend that they've made them, and now they are going to be bailed out (and they'll never admit that they received enough). Banks are some really big hungry babies and you can't just satisfy their hunger with a rattle.

reply to post by redhatty


I wish we knew...these mixed messages are just killin' 'em faster...
looks like more money infusion sooner rather than later for now huh?

what a waste...should of let 'em fail right off the bat...

they just didn't want to gank their "girlfriends"...hookers would of been cheaper

Gold is getting mighty close to that $1000/oz mark - up $6 overnight to $982.50

Edit Correction: Per Kitco, World spot price

GOLD 02/20/2009 06:48 989.70 +16.50




[edit on 2/20/09 by redhatty]

Yes I'm well aware that the economies are fcuk'd I posted a video on youtube last July predicting all of this.

We don't want nationalisation either, the banks should never have got to this stage, but whats the alternative? Definite complete economic collapse if you don't, very long period of economic devastation if you do.

Originally posted by redhatty
reply to post by Power_Semi

 

Hate to tell ya, but the economies are already destroyed.

Maybe on your side of the pond Bank Nationalization is a popular idea, but here in the colonies, we don't want that. We'd rather see them FAIL and have to write off the bad debt through the bankruptcy and restructuring process than stick the taxpayer with even 1 more cent of the cost.

We are kinda funny about that. Ya know...

It's not enough that the banks charge US for the honor of holding our money, now they want us to pay for their bad business decisions too.

Screw that

reply to post by redhatty


I was reading that as you were posting it...

here we go again with the "who's holding what over whom's head" theory again...

WE all knew this would happen sooner or later and wala...hell they know a good thing when they see it...

reply to post by Hx3_1963


One of these times, China is gonna MEAN IT when they say it

That is gonna be one FUGLY day!

Continuously bailing out bad banks and industry is exactly the State Socialism and is exactly The Nationalization.

You don't have to name it so personally, but it has already been named.

And if Americans don't want it and American Government is doing just that, what is it?

reply to post by DangerDeath


well the change of "enron" aren't exactly big bang, more like mutation of structure of society

(although we could say that the big bang theory is also a mutation)

btw, is reinhardt insinuating that the change is schedule on the 15th March ? the big day ?

ps:
Guy Debord must see/must read, he's a genius man
and you people that don't know can download the movie here (only after a good sleep for you Red)
semantikon.com... (part1)

semantikon.com... (part2)

and read it here : www.bopsecrets.org...

reply to post by redhatty


Hey redhatty, what do you and the others think about us college kids bailing out on our credit card debt? At this point in time, is it even worth the good credit that would eventually come from paying it off? I mean, I've got $15,000 in cc debt and most of it is tuition. I'm about done with Nursing school and may want to borrow to buy a home after I've paid off my debt and saved up at least 30%.

If this economy (and our government for that matter) is for sure a done deal (as we know it), should I seriously think about stopping all monthly payments and saving what little money I earn for supplies and what not? I've got 2k that was just given to me from a deceased aunt that I was going to throw down on my Citi card and pay it down, but I'm thinking I should keep it and buy food and ammo. What do you guys think? I've got a 700 fica score now.

I would consider this my own bailout as they will get my money soon enough with all the tax I'll have to pay -- and I didn't want them bailed out in the first place. In fact, I called my representatives and said HELL NO!

Please, what do you guys think? ...I respect your judgments after reading so much.

[edit on 20-2-2009 by TheDarkNight]

Originally posted by ::.mika.::
reply to post by DangerDeath

 

well the change of "enron" aren't exactly big bang, more like mutation of structure of society

(although we could say that the big bang theory is also a mutation)

btw, is reinhardt insinuating that the change is schedule on the 15th March ? the big day ?

I don't know about Reinhardt and his predictions. He is precise when observing certain elements (companies and corporations). And also how things work.

This change of "enron" is more like Castaneda's Movement of the Assembly point. In his last work, published by Armando Torres - Encounters With The Nagual (which can be easily be found on the net) he was talking about his ultimate task of moving the Assembly Point of Earth.

This is about the change of paradigm, or if you want the change of the Universal Constant. So, he believed that this constant is actually a variable, which from philosophical and personal point is possible.

Historically, the changes like the one possible at March 15th, are observed within the given system. But the one who observes them must be outside the system - that would be the paradigmatic change - a quantum leap (or in Castaneda's words: The Somersault of Thought).

oh geez. Jim Willie's latest article is downright interesting. probably hype but who knows these days

www.financialsense.com...

He think's putin stole the show at the G7 and that a new china, russia, arab power structure is going to rise in power..... with Japan and Germany quitely following their lead...

An Exchange Platform will cut out the banks altogether… [Chinese Premier] Wen delivered his speech in Davos and went straight to Berlin where they put the final touch on the new world currency basket, sponsored by Berlin-Moscow-Beijing-Tokyo-Riyadh. Moscow and Berlin already have a massive counter trade / barter trade agreement in place, and Beijing was eager to joint that platform as well.” The new global currencies are planned for launch in January 2010. They will be launched amidst growing chaos

After speaking at the World Economic Forum, where he echoed the criticism laid out by Putin, he went on an important trip across Europe. Wen traveled to four major European capitals, whose significance is enormous. He met with Swiss leaders in Bern, with German leaders in Berlin, with Spanish leaders in Madrid, and with European Union leaders in Belgium. One should interpret this not as an endorsement of the status quo, as reported by the US press media, but rather as an announcement of the new structure to conform to the Putin Blueprint for a Post-US World

ya? if true....might this have the makings of war?

Bartering, autarchy, autism - typical autocratic feudal vision.

Putin sees weakness in others, but he himself is totalitarian jester. he never learned why USSR fell...

USSR was outsourced - to USA.

[edit on 20-2-2009 by DangerDeath]

Russia 520.98 -28.23 -5.14% 15:36
Hungary 9946.75 -703.57 -6.61% 13:21

DJIA futures 7447.95 7319.0 -128.95

and the race to the bottom continues...

This was just posted on the Market Thread...very nice read!!!

CAUTION: October 87 Re-Run On Deck?
market-ticker.org...

How much lower can it go?

I have it on good authority that there is very strong support of stock prices at zero, and if you look at charts of Bank of America (closed under $4 today), Citibank (closed under $2.50), Wells Fargo (closed at $12.01), Fifth-Third ($1.21), SunTrust ($6.70) along with dozens more you will find that all of them are in fact racing directly towards that very heavy support right at that zero boundary. Many of these stocks have been cut in half or more in the last two weeks.

PS: If the market crashes tomorrow and into Monday due to your lack of a plan you own it - and the economic destruction that comes from it - Mr. President. Your StimUseless bill will be dwarfed - a crash into next week will easily cost America five million jobs within six to twelve months. You can bet I wil call you on it in public and print up T-Shirts with a nice chart of the index along with your name and a great big FAIL emblazoned on it, just as I did for Paulson and Bush after the EESA was passed.

Good luck sirs.

I think you're gonna need it.

I just sent this article/link to CNBC...

[edit on 2/20/2009 by Hx3_1963]

Originally posted by DangerDeath

And if Americans don't want it and American Government is doing just that, what is it?

A Fascist Plutocracy?

I don't know if I would call it socialism because socialism usually is the distribution of wealth back to the people not the corporations, am I right? The corporations seem to be calling the shot with all the bureaucrat's in their pockets. Nationalization sounds to me like a form of Fascism because... is not that a tightly control, highly regulated economy?

Reinhardt predecit march 15th? I read 3 other predicions now...march 15, sometime THIS month in february, and september...