It's Going To Implode: Buy Physical Gold - NOW

Posted by: Gordon_Gekko

Post date: 03/11/2010 - 07:29

Evidence seems to be mounting that we are headed towards some sort of implosion in the paper Gold market, and perhaps the currency/bond markets in general. Got physical Gold?

What Are the Odds That China Will Follow 1920's US and 1980's Japan?

Posted by: Reggie Middleton

Post date: 03/11/2010 - 07:49

Picture China right behind Greece as the target of the market vigilantes.

You May Want to Take a Shower After Investing in Russia

Posted by: madhedgefundtrader

Post date: 03/11/2010 - 00:26

Investing in Russia is a double edged sword. Shareholder rights are virtually unknown. Cross the government, and they’ll through you in jail. But the land of Lenin and Red Square has the cash to finance a serious growth spurt. GDP is flipping from a -7.9% rate in 2009 to an expected 3.2% this year. Russians have no credit card debt, no home mortgages, and terrible housing, but the resource wealth to buy what they need. Just watch out for the knock on the door in the middle of the night.(RSX)

Capmark To File For Bankruptcy, More FDIC Headaches

Submitted by Tyler Durden on 10/24/2009 14:31 -0500

It's game over for Capmark, which is expected to file for bankruptcy within 24 hours. The firm which was formerly GMAC's commercial real estate business (Or GMAC Commercial Holding Ccapital Markets Corp in short), and had originated over $10 billion in CRE loans (by the way, did we say that CRE REITs are undervalued? if you didn't buy at least 5 shares of some multi-apartment or hotel REIT yesterday with every share of Amazon you were covering you are a bubble uninflating traitor and have to be shot for not believing in a 100x P/E), was LBOed by KKR and Goldman in 2006. Needless to say, that particular investment won't be making the next Calpers pitch book.

Hopefully at least Warren Buffett will make off like a bandit:

Capmark recently entered an agreement to sell its North American servicing and mortgage-banking operations to a new company owned by Warren Buffet's Berkshire Hathaway and Leucadia National Corp. for as much as $490 million. Under the deal's terms, the sale could occur while Capmark is in bankruptcy, but would require a bigger cash payment.

The other question is how this bankruptcy will impact Ms. Bair's soothing message that all is well with the banking system.

Adding to Capmark's pressures, the Federal Deposit Insurance Corp. had notified the company that it must raise capital and boost liquidity at its Utah bank, which has roughly $10 billion in assets.

The bank would not be part of Capmark's bankruptcy filing, a person familiar with the situation said.

Maybe not tomorrow, but give it a few weeks. If the operating company was specialized in underwriting the kinds of loans that were responsible for a $1.6 billion second quarter loss, one can imagine that GMAC's bank which in May changed its name to Ally to cover its tracks, can't be far behind, especially not with Ally desperately trying to poach depositors as recently as 4 months ago with abnormally high interest rates. Zero Hedge previously wrote about the ABA's complaint against Ally: if Ally was that desperate for deposits that it would pay far higher rates then, one can only imagine how bad things must be. And with $10 billion in assets getting the traditional 30-40% haircut, there goes another $4 billion that the insolvent FDIC does not have.