• GoldCore
    08/04/2015 - 06:08
    The headlines are dramatic, ugly and depressing to anyone who holds gold right now. Broad market sentiment has shifted from disdain and dismissive to highly negative. Hedge funds are shorting gold...
  • Pivotfarm
    08/03/2015 - 15:25
    The quest for perfection is man’s unattainable goal. Man can never be perfect if we are to believe the English philosopher Thomas Hobbes. Man is man’s wolf and all of that.

Real estate

Tyler Durden's picture

Frontrunning: May 25





  • This is the solution? - Germany Writing Six-Point Plan for Europe Growth, Spiegel Says (Bloomberg)
  • JPMorgan Gave Risk Oversight to Museum Head Who Sat on AIG Board (Bloomberg)
  • Vatican bank president Gotti Tedeschi ousted -statement (Reuters)
  • Bribery, crime and stupidity pays. From this: SEC Staff Ends Probe of Lehman Without Finding Fraud (Bloomberg)
  • To this: Lehman to buy remaining Archstone stake for $1.58 billion (Reuters)
  • Governments must restore faith in debt sustainability: ECB's Praet (Reuters) - by issuing more debt
  • IMF Helping EU Explore Alternatives to Euro Bonds (WSJ)... such as US-funded bailout bonds?
  • China Banks May Miss Loan Target for 2012, Officials Say (Bloomberg)
  • Facebook market makers' losses total at least $100 million (Reuters)
  • World Bank’s Sri Mulyani Says Asean Is Resilient to Europe Woes (Bloomberg)
  • Time to flip "The Scream" - Tiffany Cuts Full-Year Profit Forecast (Bloomberg)
  • Definitely Maybe: Italy's Monti says Greece will probably keep euro (Reuters)
 
Tyler Durden's picture

As Bankia Bailout Costs Grow Exponentially, Is A Stealth Bank Run Taking Place... And What Happens To Ronaldo?





Note the following sequence of events, bolded numbers, and dates:

  • Bank Of Spain Formally Nationalizes Bankia, Says Insolvent Bank Is "Solvent", Adds There Is No Cause For Concern, Zero Hedge, May 9
  • Spain is taking over Bankia by converting its 4.5 billion euros of preferred shares in the group’s parent company into ordinary shares, BusinessWeek, May 21
  • Spain said on Wednesday its rescue of problem lender Bankia would cost at least 9 billion euros ($11 billion), as the government tries to clean up a banking system that threatens  to drag the country deeper into the euro zone crisis, Reuters, May 23   
  • Bankia SA will have to ask the Spanish government for more than 15 billion euros as part of its effort to restore its financial health, state-owned news agency EFE reported Thursday, citing financial sources, Dow Jones, May 24

Hopefully we aren't the only ones to notice how the bailout cost has oddly doubled almost on a daily basis.

 
Reggie Middleton's picture

Facebooking The Chinese Wall: A Step-By-Step Guide On How To Build An Unassailable Case Against Muppet Manipulators!!!





For anyone who can't see the "WHY" or "HOW" in a Muppet Manipulators suit, re: Facebook IPO, here's a step by step guide comparing my research to that of the top 4 underwriters showing exactly what they did wrong & how everyone is ignoring it

 
Tyler Durden's picture

Guest Post: The E.U., Neofeudalism And The Neocolonial-Financialization Model





Forget "austerity"and political theater--the only way to truly comprehend the Eurozone is to understand the Neocolonial-Financialization Model, as that's the key dynamic of the Eurozone. In the old model of Colonialism, the colonizing power conquered or co-opted the Power Elites of the region, and proceeded to exploit the new colony's resources and labor to enrich the "center," i.e. the home empire. In Neocolonialism, the forces of financialization (debt and leverage controlled by State-approved banking cartels) are used to indenture the local Elites and populace to the banking center: the peripheral "colonials" borrow money to buy the finished goods sold by the "core," doubly enriching the center with 1) interest and the transactional "skim" of financializing assets such as real estate, and 2) the profits made selling goods to the debtors.

In essence, the "core" nations of the E.U. colonized the "peripheral" nations via the financializing euro, which enabled a massive expansion of debt and consumption in the periphery.

 
Tyler Durden's picture

Guest Post: Dollar Backwardation





The current financial crisis, may progress to a phase where people demand and hoard dollar bills but take electronic deposit credits only at a discount which increases until electronic deposit credits are repudiated entirely. The Federal Reserve would be powerless to solve the problem, because while they can create unlimited electronic deposit credits they can’t create unlimited paper dollar bills, “money you can fold” as Professor Antal Fekete calls it. There would be a glut of electronic deposits, but a shortage of dollar bills. Before the financial crisis metastasized in 2008, Fekete wrote a paper that I think is underappreciated and under-discussed: "Can We Have Inflation and Deflation at the Same Time?" In his paper, he discussed the “tectonic rift” between paper Federal Reserve Notes (i.e. dollar bills) and electronic deposits. By statute, the Federal Reserve cannot print dollar bills without collateral (e.g. Treasury bonds). Also, they have limited printing press capacity that is insufficient to keep up with a catastrophic crisis.

 
4closureFraud's picture

Foreclosure Fraud 101 – How (not) to Fraudclose on a Default When There is No Default in Order to Steal $$$ from the Govt (FDIC)





The evidence was clear that there was a long and unblemished record of good faith timely monthly payments by Defendants... And a bona fide default never occurred...

 
Reggie Middleton's picture

Newsbytes To Help You Frontrun Those Banks Frontrunning You!





Today's MSM headlines pre-filtered for the frontrunning defense fund :-) Caution! Those allergic to real, unbiased analysis should move on...

 
Tyler Durden's picture

Guest Post: US Citizens Now One Step Closer To Becoming Permanent Tax Slaves





My sense is that the government has been watching the number of expatriates rise over the years, and simultaneously watching the value of the exit tax fall… and they’ve been looking for an excuse to make sweeping (i.e. retroactive) changes. Eduardo Saverin is the perfect excuse. The Facebook co-founder’s recent renunciation of US citizenship has become a rallying cry for politicians to go back in time and steal money from former citizens retroactively…plus establish a larger base for future tax revenues. This is a truly despicable thing to do considering that these former citizens followed the appropriate rules at the time, paid the tax, and moved on with their lives. Now Uncle Sam wants to go back in time to unilaterally change the deal, and expect everyone to abide even though they’re not even citizens anymore. The arrogance is overwhelming. More importantly, this bill is also a major deterrent for people who are thinking about renouncing US citizenship today.

 
Reggie Middleton's picture

Why Shouldn't Practitioners Of Muppetology Get Swallowed In A Facebook IPO Class Action Suit?





They call their clients muppets, they lose their clients massive amounts of money, they get preferential government treatment and get paid billions in bonuses at the same time they accept trillions in bailout aid. Exactly why not a class actiion FB suit again?

 
Tyler Durden's picture

The Keynesian Emperor, Undressed





The standard Keynesian narrative that "Households and countries are not spending because they can’t borrow the funds to do so, and the best way to revive growth, the argument goes, is to find ways to get the money flowing again." is not working. In fact, former IMF Director Raghuram Rajan points out, today’s economic troubles are not simply the result of inadequate demand but the result, equally, of a distorted supply side as technology and foreign competition means that "advanced economies were losing their ability to grow by making useful things." Detailing his view of the mistakes of the Keynesian dream, Rajan notes "The growth that these countries engineered, with its dependence on borrowing, proved unsustainable.", and critically his conclusion that the industrial countries have a choice. They can act as if all is well except that their consumers are in a funk and so what John Maynard Keynes called “animal spirits” must be revived through stimulus measures. Or they can treat the crisis as a wake-up call and move to fix all that has been papered over in the last few decades and thus put themselves in a better position to take advantage of coming opportunities.

 
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