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GoldCore's picture

Gold Prices Kept Low ... For Now ... But Only For Americans





  • Germans can’t get their gold reserves. Do how did the Dutch get their 122 tonnes of gold?

  • Is Germany being prevented from holding gold to prevent independent foreign policy action?

 
Tyler Durden's picture

"Gold Is A 6,000 Year Old Bubble" - Citi's Dutch Strategist Throws Up All Over Gold, Days After Dutch Gold Repatriation





"Gold is the world’s most persistent bubble: 6,000 years old and going strong" - Citigroup's Willem Buiter.

Dear Willem, thank you for that valiant effort. After reading a few thousands words of shallow propaganda we understand your "confusion": our advice, if you want to understand what gold really is, read the following from Kyle Bass: "Buying gold is just buying a put against the idiocy of the political cycle. It's That Simple." Because if there is a bubble that is even bigger and longer than the "6000-year-old gold bubble" it is that of human corruption, greed, and idiocy. And that doesn't even include the stupidity of those who don't grasp this simple truth.

 
Tyler Durden's picture

Jim Grant On Complexity: The Hidden Cost Of Central Bank Actions





Central banks are printing rules almost as fast as they’re printing money. The consequences of these fast-multiplying directives — complicated, long-winded, and sometimes self-contradictory — is one topic at hand. Manipulated interest rates is a second. Distortion and mispricing of stocks, bonds, and currencies is a third. Skipping to the conclusion of this essay, Jim Grant is worried: "The more they tried, the less they succeeded. The less they succeeded, the more they tried. There is no 'exit.'"

 
Tyler Durden's picture

How Long Can The Shale Revolution Last?





A new study has cast serious doubt on whether the much-ballyhooed U.S. shale oil and gas revolution has long-term staying power.

 
Tyler Durden's picture

The Goldman Tapes And Why The Delusion Of Macro-Prudential Regulation Means The Next Crash Is Nigh





There is nothing like the release of secret tape recordings to clarify an inconclusive debate. Actually, what the tapes really show is that the Fed’s latest policy contraption - macro-prudential regulation through a financial stability committee - is just a useless exercise in CYA. Macro-pru is an impossible delusion that should not be taken seriously be sensible adults. It is not, as Janet Yellen insists, a supplementary tool to contain and remediate the unintended consequence - that is, excessive financial speculation - of the Fed’s primary drive to achieve full employment and fill the GDP bathtub to the very brim of its potential. Instead,  rampant speculation, excessive leverage, phony liquidity and massive financial instability are the only real result of current Fed policy.

 
Tyler Durden's picture

5 U.S. Banks Each Have More Than 40 Trillion Dollars In Exposure To Derivatives





When is the U.S. banking system going to crash? We can sum it up in three words. Watch the derivatives. It used to be only four, but now there are five "too big to fail" banks in the United States that each have more than 40 trillion dollars in exposure to derivatives.

 
Tyler Durden's picture

It's Official: Public Opinion Of Congress Sinks Below That Of A Used-Car Salesman





Poll after poll confirms what we're sure you’ve already been feeling. People are disenchanted with the existing system. They don’t trust the government, they don’t trust the banks, and they don’t trust the media. You can hear the rumblings of grumblings, and it’s only growing louder and louder. It doesn’t have to be this way.

 
Tyler Durden's picture

The Cost Of Downgrading The US: $1 Billion





Back in the summer of 2011 during the debt ceiling debacle, S&P did the unthinkable: it dared to speak the truth when it downgraded the US from its pristine AAA rating, setting off a stock market selloff and paradoxically sending bonds to record low yields. This resulted in a vindictive Tim Geithner promptly warning the Chairman of McGraw-Hill the US would retaliate (which it did), the termination of then CEO Devan Sharma (and his replacement with the all too friendly COO of Citibank), and most importantly, a still ongoing legal fight in which the DOJ sued S&P (and only S&P, not Moody's, not Fitch) allegedly for rating improprieties during the first housing bubble, but even 5 year olds knew it was just to teach S&P a lesson. Today we learn just what the cost is for anyone who dares to downgrade the US. The answer: $1,000,000,000. That is the amount that S&P has decided it will agree to pay in a settlement with the DOJ to put all this "truthiness" unpleasantness behind it.

 
smartknowledgeu's picture

A Call to Action. Help End Gold Price Manipulation Now!





On the same day in which we released our letter writing campaign to “End Gold Price Manipulation Now!”, Barclays Plc was fined $43.8 million and Barclays trader Daniel James Plunkett was fined more than $160,000 for manipulating the gold price to avoid a $3.9 million payout to a client that had placed options on gold in the market. Of course, these types of shenanigans have been going on for more than a decade now, but since this event marks the first significant fine against a bullion bank and a banker for gold price manipulation, it is groundbreaking in that regard.

 

 
Tyler Durden's picture

Guest Post: Suspicious Deaths Of Bankers Are Now Classified As "Trade Secrets" By Federal Regulator





It doesn’t get any more Orwellian than this: Wall Street mega banks crash the U.S. financial system in 2008. Hundreds of thousands of financial industry workers lose their jobs. Then, beginning late last year, a rash of suspicious deaths start to occur among current and former bank employees.  Next we learn that four of the Wall Street mega banks likely hold over $680 billion face amount of life insurance on their workers, payable to the banks, not the families. We ask their Federal regulator for the details of this life insurance under a Freedom of Information Act request and we’re told the information constitutes “trade secrets.”

 
Phoenix Capital Research's picture

The Yellen Fed Knows Stocks Are Bubbling





Yellen is evidently aware that stocks are bubbling. As Fed Chairman she cannot admit it (no Central Banker will ever say the markets are in a bubble), but the signs that she is aware of this are present.

 
Reggie Middleton's picture

Goldman Sachs, the 3rd Bank Spewing Fear, Loathing & Hatred At Bitcoin: The Paradigm Shift That Makes Bankers Quake





When "Muppets" are told to bite the hand that feeds them, will they listen? Goldman, et. al. better hope and prey that they do!

 
Tyler Durden's picture

Frontrunning: March 7





  • Putin rebuffs Obama as Ukraine crisis escalates (Reuters)
  • Behind the $100 Billion Commodity Empire That Few Know (BBG)
  • Initial Public Offerings Hit Pace Not Seen in Years (WSJ)
  • Russian Parliament Will Back Crimea Split From Ukraine (WSJ)
  • Nakamoto Named as Bitcoin Father Denies Involvement, Flees Press (BBG)
  • Chaori Can’t Make Payment in China’s First Onshore Default (BBG)
  • Zombies Spreading Shows Chaori Default Just Start (BBG)
  • Pimco's Gross declares El-Erian is 'trying to undermine me' (Reuters)
  • U.S. Fighters Circle Baltics as Putin Fans Fear of Russia (BBG)
 
Tyler Durden's picture

Another "Successful Banker" Found Dead





The dismal trail of dead bankers continues. As The Journal Star reports, a successful Lincoln businessman and member of a prominent local family died last week. Former National Bank of Commerce CEO James Stuart Jr. was found dead in Scottsdale, Ariz., the morning of Feb. 19. A family spokesman did not say what caused the death. This brings the total of banker deaths in recent weeks to 9 as Stuart is sadly survived by three sons and four daughters.

 
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