AIG

Institutionalized Lying - Why Central Bankers Never See Bubbles

Every day there is more confirmation that the casino is an exceedingly dangerous place and that exposure to the stock, bond and related markets is to be avoided at all hazards. In essence the whole shebang is based on institutionalized lying, meaning that prouncements of central bankers, Wall Street brokers and big company executives are a tissue of misdirection, obfuscation and outright deceit. And they are self-reinforcing, too.

The Fed Sends A Frightening Letter To JPMorgan, Corporate Media Yawns

Yesterday the Federal Reserve released a 19-page letter that it and the FDIC had issued to Jamie Dimon, the Chairman and CEO of JPMorgan Chase, on April 12 as a result of its failure to present a credible plan for winding itself down if the bank failed. The letter carried frightening passages and large blocks of redacted material in critical areas, instilling in any careful reader a sense of panic about the U.S. financial system. The Federal regulators didn’t say JPMorgan could pose a threat to its shareholders or Wall Street or the markets. It said the potential threat was to “the financial stability of the United States.”

Bernanke's New Helicopter Money Plan - Sheer Destructive Lunacy

Bernanke has been a charlatan and intellectual lightweight all along but the gist is that the US economy is wanting for some non-existent ether called “aggregate demand”. And that this ether is something the Fed can easily create by handing an open-ended spending account to politicians, and one that would never have to be repaid or even serviced with interest! It puts you in mind of the medieval theologians who endlessly debated as to the number of angels which could fit on the head of a pin. The trouble is, there is not such thing as angels. Nor is there any such thing as economic growth or wealth that can be conjured by politicians spending Bernanke’s utterly counterfeit money.

For Mario Draghi, None Of This Was Supposed To Happen

It'll be four weeks tomorrow that Draghi fired his quadruple bazooka and yet European markets are in apathetic mode. We show the returns of our usual selection of global assets since the cob the night before the last ECB meeting on March 10th. Perhaps markets haven't been helped by a renewed but unrelated fall in Oil (Brent -9.1%, WTI -6.3%) since this point but it's noticeable that outside of commodities the worst performers have generally been areas of the market that Draghi tried to help.

Wikileaks Reveals IMF Plan To "Cause A Credit Event In Greece And Destabilize Europe"

In a leaked transcript, IMF staffers are caught on tape suggesting that a threat of an imminent financial catastrophe was needed to force other players into accepting its measures such as cutting Greek pensions and working conditions, or as Bloomberg puts it, "considering a plan to cause a credit event in Greece and destabilize Europe."

"Why We Need To Beat Russia"

Only Gold has the history, depth, unique qualities, loyalty of the elite and transitional power to challenge any man, any nation, any system on earth, past, present and future. The Dynasties understand this, because they have both witnessed and authored this axiom across generations of asset accumulation. As the sand peters past the last curve of the hour glass the Dynastic hand is clear to see. So the Neo-cons need to beat Russia, and soon, as only Globalism can keep the markets enchained.

Explosive Accusation: Belgium Had "Advance And Precise" Warning About Terrorist Attacks, Did Nothing

In what, if true, is the most incendiary allegation of the day, Israel's Haaretz newspaper reports that Belgian security services and other Western intelligence agencies had "advance and precise intelligence warnings" regarding Tuesday’s bombings. According to the paper, "the security services knew, with a high degree of certainty, that attacks were planned in the very near future for the airport and, apparently, for the underground railway as well."

The "Terrifying Prospect" Of A Triumph Of Politics Over Economics

All of life’s odds aren’t 3:2, but that’s how you’re supposed to bet, or so they say. They are not saying that so much anymore, or saying that history rhymes, or that nothing’s new under the sun. More and more 'they's seem to be figuring out that past economic and market experiences can’t be extrapolated forward - a terrifying prospect for the social and political order.

"No Signs Of Recession" Says Agency That Always Fails To Predict Recession

The top economist for Moody’s (one of the largest rating agencies in the world) said yesterday, as he unleahed the latest jobs guess, that there are absolutely zero signs of recession. These sameguys were so drunk on their own Kool-Aid that in October 2007, Moody’s announced that “the economy is not going to slide away into recession.” Everyone assumed that the good times would last forever. This is what virtually assures negative interest rates in America.

Striking Admission By Former Bank Of England Head: The European Depression Was A "Deliberate" Act

While warnings by former central bankers who are more responsible about the current global mess sound as nothing but revisionist bullshit. And yet, it was what King said today at the launch of his new book that left us surprised.As the Telegraph reports today, according to the former head of the Bank of England Europe's economic depression "is the result of "deliberate" policy choices made by EU elites.

Chesapeake's AIG Moment: Energy Giant Faces $1 Billion In Collateral Calls

"we have received requests to post approximately $220 million in collateral, of which we have posted approximately $92 million. We have posted the required collateral, primarily in the form of letters of credit and cash, or are otherwise complying with these contractual requests for collateral. We may be requested or required by other counterparties to post additional collateral in an aggregate amount of approximately $698 million."