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Preparing Resources To Shop For Distressed Assets As Banks Refuse To Come Clean On Near Fraudulent Reporting
As the equity markets are benefiting from the forced zero rates of central banks world-wide, I remain cognizant that the core problems of the crash five years ago have went absolutely nowhere. As I have demonstrated to all that I am no perma-bear in calling the contrarian pair trade of the decade (short Apple: Deconstructing The Most Accurate Apple Analysis Ever- long Google: Reggie Middleton Goes For 2nd Win On CNBC Stock Challenge & Causes TROUBLE!!!). I'm not pessimistic, I'm realistic! My recent rant on the Irish banks included the post that pretty much laid out the evidence of a potential Irish bank collapse - "If I Provide Proof That The Entire Irish Banking System Is A Sham, Does It Set Up A Much Needed System Reboot? Let's Go For It... I followed this up with a stern warning to Irishmen - "As Forewarned, The Irish Savers Have Just Been "Cyprus'd", And There's MUCH MORE "Cyprusing" To Come". Who do you believe, me or your Irish government? Let me give the skeptical readers a little assistance...
Just a month and a half ago, we've had Irish officials proclaiming...
Hey, ninety days or so later... guess what?
These banks are likely to need a recap, a recap that will likely get sloppy and ugly. I visited the UAE this time last year and noticed that would be an excellent source of capital for a shopping spree based upon the EU Bank deleveraging. It prompted me to detail my thoughts to subscribers for I was preparing to raise capital.
Distressed Sales from European Sovereign Nations and Banks Page 01
Distressed Sales from European Sovereign Nations and Banks Page 02
Distressed Sales from European Sovereign Nations and Banks Page 03
Distressed Sales from European Sovereign Nations and Banks Page 04
Distressed Sales from European Sovereign Nations and Banks Page 05
This is just a portion of the report released (subscribers can find the full report in the Global Macro Section of the downloads area). One page in particular was particularly prescient, page 9... Remember what happened two months ago before you read this and be sure to notice the dates on the embedded documents... Bank deleveraging is REAL!!!
- Is The Cypriot Government Crazy Or Do They Really Fear Bankers That Much?
- Mainstream Media Says Cyprus Salvaged By…
- Economic Depression Is The New Success
Distressed Sales from European Sovereign Nations and Banks Page 09
I have updated versions of this distressed asset acquisistion document which I will post for institutional subscribers later on in the day. Any institutions or high net worth individuals interested in my plans should feel free to contact me.
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Those "officials" may have had drink taken but they knew exactly what they were doing............
Fuck the rest of us over in the interests of their masters and hope for a cut.
http://www.youtube.com/watch?v=pEXOpaFFReE
Its now about a 10,000 ~ euro extraction per person per year and increasing.
Reggie,
Perhaps Irish "Officials" were in an alcholic blackout when they did the first bail-out...??!!
Nah.
It won't be possible.
They will increase tax on the capital gains.........
Best to hold gold to get out of the system proper.
Many people will simply bury the shiny stuff in a bog.
Its what happened the last time..............
House asking prices still remain fictional..............
Take 25 % off this cottage .
But it looks nice.
Half a acre is enough for spuds for the year.
http://www.daft.ie/searchsale.daft?id=444430
I hope you can buy that, at your discount, with a few bars of phyz
I'm sold. I'd be stupid to argue against Reggie's track record which, timing aside, is stellar.
All that concerns me is, is this big enough to take out RBS? Or will the touted depositor haircuts v2.0 offset the big bank collapse again? If the latter, I suspect the IRA will make a resurgence.
Accounting has become a historical relic.
"Daddy, tell me again about "Mark to Market""
Good one!
When someone says that Gold is a barbarous relic, I will reply that Governments and Banks no longer using G.A.A.P.(Generally Accepted Accounting Principles) and Mark-to-Market accounting are the barbarous relics, not Gold.
+1 all of you. I'd say the only barbarous thing about gold is that in some parts it's accounted in "Imperial" system troy ounces instead of civilized Metric ;-)
which reminds me about how 1968 one million USD bought you one metric ton of gold - and methinks this was not a coincidence, since it was a politically/diplomatically agreed price
Mark went to the market and lost his shirt, pants, jacket, and his organs.
@Tinky
Its very hard to break into the Irish Agricultural thingy......farms change hands pretty slowly.
The golden vale North of Cork city is the richest farm area (dairy)
But if you want a few acres hobby farm in the west with good land by the standards of the western areas........
Valentia Island is the one me thinks.
It has a road bridge and ferry access on the other side and holds the best land in west Kerry.
It has some nice English style villages also as it was the point where the transatlantic cable reached Europe and was therefore a important part of the world at one stage.
http://en.wikipedia.org/wiki/Knightstown,_County_Kerry
This guy has good videos of the place.
He is one half of a canadian couple who seems to have moved there a few years ago.
http://www.youtube.com/watch?v=pi-F53twfeg
Advantage of summer living on Irish islands....
Mackeral are easy to catch.
http://www.youtube.com/watch?v=pjPuRbT6-PU&list=UUnlOwuC-ek-Nbocg6hPOeWw&index=102
Knightstown burbs............
http://www.youtube.com/watch?v=DC3yfUSxYWY&list=UUnlOwuC-ek-Nbocg6hPOeWw&index=83
No scarcity of new houses
http://www.youtube.com/watch?v=WuphfQmpp5U&list=UUnlOwuC-ek-Nbocg6hPOeWw&index=46
The local retired collie
http://www.youtube.com/watch?v=pdwV9VYhbhI&list=UUnlOwuC-ek-Nbocg6hPOeWw&index=88
Looking west toward Newfoundland.
http://www.youtube.com/watch?v=pDFrGp8yxl8&list=UUnlOwuC-ek-Nbocg6hPOeWw&index=100
Thanks much for that. I'm not thinking commercial; more hobby farm.
Hadn't though of Valentia Island, and it looks interesting.
Cheers,
Tinky
No Problem
As I said it has surprisingly good land and is very mild (except for these past few cold winters)
They planned that village before the cable.......
They would not have put it there without it having good land by the standards of the area.......the mainland near the island is however not very nice.......
Its bleak windswept coastal blanket bog.
Ireland is not growing................
exports add to GDP growth.
You cannot eat exports.
GDP is therefore a very poor metric for Irish banks exposed to continued decreases in domestic consumption & commerce.
The real Irish economy continues to dive into the bog.
Irelands only function is to transfer surplus wealth to the core.
its a conduit economy.
A Giant SPV.
Dork –
What's your view of the current real estate market in Irelend? I'm primarily interested in rural or semi-rural homes and small farms.
Thanks in advance.
Check this out.
Transport data gives you the best indication of the real domestic Irish economy ...what little remains.
Publication of the 10th Irish maritime transport publication where the director states quite openly that they have seen probably the biggest boom and bust in the history of shipping markets.
http://viewer.zmags.com/publication/2d9731e6#/2d9731e6/40
He points to the symmetry of the Irish maritime transport sector and the real Irish domestic economy (not GDP increases which includes high value low weight exports which are generally somewhat outside the domestic economy as it is beyond the tax system)
However dry bulk volumes increased by 7%
As a result of farmers importing extra feed in the wet summer of 2012 (agri is 22% of total dry bulk volumes) and steady demand for steam coal in Moneypoint power station.
We have a crazy Aluminium factory in Shannon which dominates dry bulk imports – Bauxite – its there for purely tax arbitrage reasons as it uses it own Gas turbine in this very high energy operation !!!
There was huge controversy about this in the early 80s with a nearby farmer on the national television politics / debate show claiming his cattle were dropping like flys because of the toxic dust from this site.
Despite its continued operation in such a crazy area (Hydro Iceland is better) it is generally not talked about in polite Irish circles.
THE BAD NEWS
Liquid bulk is down maybe 3% in 2012 when you subtract Bantry in the SW (this is a long term oil storage area)
break bulk volumes (eg. timber , machinery) down 3% , decreased for 5th year straight and is at a 10 year low.
Much of this is coastal traffic in the smaller ports such as New Ross (JFK ancestors home town) although the big ports dominate all sectors now.
Lift on lift off experienced a 3% decline in 2012 when it was growing at 7% a year a decade earlier.
passenger traffic declined by 4% and the tourist car market by 7 %……
The depression in Europe continues…………..
All so that the banks can have access to cheap labour arbitrage profits from Asia & Germany
Notice how the Baltic Dry Index is down around cold-war and pre-globalism fad levels.
The eff'ers can't afford to go anywhere so nothing's gonna move. Soon this will become a nightmare on Euro street.
I wish I could make head or tail of this post, and I wish I was a high net worth individual.
"I wish I could make head or tail of this post"
Buy my advisory service.
Assets on your books worth sh%t = trouble down the road
But not with modern-day deVry banking skills! We can make you millions from nothing simply by following our intense program. Steal, cover your ass, steal, cover your ass, show your ass, etc. Like takin' candy from a baby, it is!
deploy cash, aquire physical assets (revenue generating if possible), new rental development, more silver coins, new IR beam for the AR with infared scope etc. etc. etc.
Thx, clarification much appreciated..but who is supposed to be preparing which resources to shop for which distressed assets (presumably of the Irish banks)? Am I particularly dense or is this post intentionally obfuscated for " non-high net worth" subscribers?
Reggie, that's "have gone," not, "have went." Where you from boy? Tennessee?