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Frontrunning: May 17
- ‘There’s No Money Left,’ U.K. Minister Learns From Predecessor (Bloomberg)
- Meredith Whitney: The financial reforms currently contemplated will further restrict capital. Expect unemployment to stay high (WSJ)
- Euro swaps corner Trichet as euro keeps falling (Bloomberg)
- Man Group Agrees to Buy GLG to Expand Range of Funds (Bloomberg)
- Is Ben Bernanke having fun yet? (NYT)
- "Lack of trust" pummels bank lending in Europe (Bloomberg)
- Fleckenstein: In Europe, recklessness wins again (MSN)
- Update on European air traffic situtation (Eurocontrol)
- Samuelson: Will Europe's problems awaken the US? (RCM)
- An oldie but a goodie: How day trading works - hooked on speed (LA Times)
- Bailouts have discouraged banks from lending (Forbes)
- Lehman to spin out European mezzanine unit (FT)
- Pru launches $21 billion rights issue (WSJ)
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Is the Empire State Manufacturing Survey like the Chicago PMI where it's released to subscribers before it's released to the general public? Futures sure took a dive just prior to it being released...
How To Say "Fuck You" To Wall Street ... In Chinese
Mr. [Geithner], I agree with you at the conceptual level. But the best system in the world will not work if those who defend the system still think that greed at any cost is good. Without trust and integrity, no system will protect us from barbarians at the gate.
Andrew Sheng is Chief Advisor to China Banking Regulatory Commission
http://english.caing.com/2010-05-17/100144355.html
Or maybe:
"It is extremely interesting that you wish to paint us as an autocratic nation and yourself as a democracy. Naturally a democracy can be manipulated into idol worshipping mob rule if played right, but this is only the form of government that you "say" you have. What it is at a deeper level is something much more interesting."
seriously enjoying what JPM is trying to do to gold and silver this morning.....creating a fabulous buying opportunity for us....all we have to do is sit and wait them out......
joyous.
What happened to the futures? I swear I was looking forward to a bloodbath but it looks more like a needle pinch now? Or is this another fakeout to lure the retail guys to buy at the open
No offense intended by this but reread your words. You are wondering if they are trying to "fake" you out. Are they "luring" folks in? You don't trust them. I suggest: Don't enable them. Don't trade.
One thing about buying gold, it's like taking your ball and going home. No ball no game.
FUCK THEM AND THEIR GODDAMNED PONZI SYSTEM.
If you are indeed buying gold. Dont miss the article i will post when i complete it; main topics; gold derivatives, notional and gross amount of gold derivatives vs physical gold [liquid], fractional bullion banking via GOFOs of variable maturity, OTC forwards instead of futures, LPMCL role in all that etc etc. Interesting shit; will probably be up in a day or two since there is a shitload of technical stuff to comb trough and sort together.
Looking forward to it. I appreciate your efforts, Cheeky B.
I'm really small time, a few coins at a time. I have some money trapped in an annuity I can't get to, so gold is my hedge in case that blows sky high. If I count that, with a little cash set aide, I have 18% in PMs. If I don't count that I am more like 70% PMs. I am tempted to get more but fear I am acting like a gambler if I go in now with so little margin for error (the cash I have is equal to half a years living expenses). My decisions are small compared to many, but at the micro level, that is where it's at.
I look forward to your post.
For the record I think it is cool that you are posting regularly now. I wrote you a long post about it and it got eaten and never appeared. I got pissed and did not rewrite it because the spirit that wrote it had left me.
I said things like you are a centerpiece for this community, that I liked how you were just being you (in terms of your voice) in the posts, stuff like that. Heartfelt fucking note and it got eaten. Ah well.
You are appreciated, sir.
But we have to have a value system that involves time, space, lies, mythical math, plots schemes dreams, walking on water, eating bullets and shitting ice cream.
Without a promised reality the real reality sucks.
Insert bullshit drama and emotional distortions for affect.
http://www.youtube.com/watch?v=fNmQS44bDSQ
Good point. Aside from self-preservation, this may be the most meaningful way we still have to "vote."
When the price drops, besides understanding it as insurance, it helps to remember this is a choice that is a political stand. Maybe a spiritual one as well. :-)
post-3 am buying on CME using FED discount window and "inner-club" banks prop desks. It happens every night. Dont sweat about it.
This just in:
Dow (and all indexes) opened green. +39.9 on the Dow when I looked.
If you are stubborn or insane or both, and insist on trading this market, I salute you.
Full disclosure:
In cash, paper gold, physical gold and silver with a piddly position in SKF.
I am tempted to covered short the paper gold but, alas, the ouija board says no, not at this time. :-)
Adios Margaritaville
http://www.huffingtonpost.com/2010/05/17/oil-spill-florida-keys-sc_n_578...