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The real cost comes from the mouths of guys who have spent the last 30 years working at Suncor, the number they say is $30 a barrel and closer to $40 when they are doing plant shut downs for maintenance etc. of course the company isn't going to go public with the real numbers because 70 % profit is ass rape.
Exactly. Insiders will tell you, off the record, that the cost is around $35/barrel. But they don't tell the public that, for obvious reasons.
Is that before or after government subsidies?
Its high yes, but probably closer to $65.
Time to go swimming.. in debt.. with this gal. http://hedge.ly/gFWVSm
Give me a break, skinny, fake boobs, airbrushed, no thighs indicating no excercise, just starves herself and looks in the mirror all day.
Yeah? I wouldn't kick her out of my bed.
I'd rather swim this babe, from my blog. But I like a little color ;)
Confidence in the system has imploded. MF global will be remembered as the catalyst for the demise of the system as we currently know it. I still think the AUD and CDN dollar will the top fiat in the swirling toilet bowl due to commodity richness.
for a short time, yes.. But both will suffer from dutch disease, and you'll see huge dislocation among the resource rich, and manufacturing based provinces. Eventually both sovereigns will implode from dutch disease, and a global depression.
In the hyperinflation scenario, mass protests, and social unrest, culminating in ?
It will always be Bear and Lehman. Always.
Hyperinflation? Did you read the article? I'm no rocket scientist, but I read DEflation between the lines.
Its a WWF wrestling match between deflation and inflation.
I'm thinking stick 100% of your assets in a 50/50 mix of cash and gold and bury in the yard. Which ever way she finally blows, one will increase 10 fold in value against the other. At least this way you can stop trying to track and predict the final explosion and get on with your life.
That post-WWI deflation in Germany was pure hell.
Good one... but Id save about 20% and put it in potatoes and spirits like whiskey and vodka... In Poland, after WWII people who speculated and stocked up on alcohol (or made moonshine) had nice bargaining chip when it came down to bribes for the right people.
... Besides if shit really hits the fan- You can't get wasted drinking gold :D
the new 'bazooka':
The logic of free market osmosis suggests one sovereign's de-inflation is typically balanced against another sovereign's inflation. In a currency war the winner is the sovereign that can shed the most value without incurring the wrath of angered gentry stakeholders such that they useg the flesh and sweet breads of so called political employees and counting room managers as main course at a pig's bris.
Just seems, mind you, the rating agencies are trying to stagger (control) the uncontrollable - dosing a phynancial methadone of sorts - desperately attempting to balance the effects sure to fail piggy backed carry bets - a tubeless tire - a slowout instead of a blowout - is that it? Ain't enough methadone in two universes, and the underverse, to warm a cold dead turkey back to life.
If American bookies are risking USDs Americans consigned for investment then the rules the bookies play by to place those bets should be American rules (right). If Mr and Mrs American investor sign waivers allowing said bookies to bet in foreign casinos under [foreign] house rules - then f*ck `em - if the bet falls apart - toooo bad. They can bail this (hand u-no-where) up their ass.
Maybe those non-winning lotto tickets in the junk drawer are worth something after all!!. Ain't talking `bout the 2 bucks shelled out at the liquor store - I WANT WHAT I WOULD HAVE RECEIVED HAD THOSE TICKETS WON THE JACKPOT.
* Give me a f*cking break - where I come from you loose a bet you pay up (one way or another). Hmmmm .. perhaps a barter when the fiat crashes .. Corzine - Blankenstien - all trussed up in a 'Lil Bo Beep outfit - with a riding crop hanging out the kazoo - selling their double secrets a nickle a throw - shit that imagery makes me wet as that fancy smancy sissified big city "hypothecation" thinga-mabob! Isn't that what adolescent males do during those not too infrequent and vey often frenzied, though sincere, midnight confessions?
Keep it wet. Don't eat the yellow snow. "Hypothecate" too much and you'll go blind. So many things to remember. So many ..
Our Canadian dollar is shit, our central bank does not even pretend to own any gold like the other fake fucks do. Our government just tries every failed policy the US government does, just a few years later, when it's obvious to everyone at that point it was a dumb idea.
Steven DickTator Harper and his fff Flunky.Jjjj imbo Flaperhty,are hidding all the banks pppproblems,and giving them cash bbb bailouts,bbb behind the scene.
Harper needs early retirement..
Thank you for pointing this out. Many Canadians think Canadian banks are strong and turn their nose up at US banks. I tried to explain to my friends the other day not to overrule the possibility that the Canadian banks could shit the bed as well. They refused to believe me.
It's this complacent Canadian attitude which I hate. As a German friend who lives in Canada said "It could be so much more." Sure it could - if we weren't so fucking complacent.
Canadian gold vaults are empty, and that is all that matters.
But there's lots more in them thar hills . . .
If you MUST use a bank, at least use a Credit Union. If you must.
Society has been conditioned to become bank-dependent in less than 2 generations.
And I'll move back home, scooping up a house and land, on ze cheep.
TPTB will simply take our oil and water in exchange. Our grandchildren will be left with mountains of debt, soiled landscapes, and no clean water.
And then in 100,000 years new crazy shit will start happening.
Some bankers need their nuts hyper-hypothecated so that we all have an opportunity to step on them.
Oh jeez ZH. You know full well that banks don't hypothecate customer accounts. This is pure bs. This site has gone way downhil, you're just pounding out crap at this point.
And give it up with Sean already. Dude's been a joke for years.
Bank of America's holding company -- the parent of both the retail bank and the Merrill Lynch securities unit -- held almost $75 trillion of the contracts at the end of June, according to data compiled by the Comptroller of the Currency. About $53 trillion, or 71 percent, were within Bank of America NA, according to the data, which represent the notional values of the trades. The company is the second-largest U.S. lender by assets.
In August, the bank said a two-level downgrade by all ratings companies would require it to post $3.3 billion in additional collateral and termination payments, based on agreements as of June 30. As of Sept. 30, the bank could have been required by counterparties to produce $4.9 billion beyond what it had already posted, according to last week's filing. Of that, $3.2 billion resulted from the Moody's downgrade.
If the banks are clean here, why move $53 trillion onto the clients' book?
This is a first for me... looking at personal information for Big Bopper Kenosha gives "Access Denied"
Does this mean TD has bazookered a troll? Bring it on!
“7. Consent To Loan Or Pledge You hereby grant us the right, in accordance with Applicable Law, to borrow, pledge, repledge, transfer, hypothecate, rehypothecate, loan, or invest any of the Collateral, including, without limitation, utilizing the Collateral to purchase or sell securities pursuant to repurchase agreements [repos] or reverse repurchase agreements with any party, in each case without notice to you, and we shall have no obligation to retain a like amount of similar Collateral in our possession and control.”
Anyone who agrees to these terms is an idot and deserves to loose their shirt
I'm thinking your talking anyone with a Fidelity / Seibert / Schwab and anyone else doing buisness via National Financial Services LLC I'm pretty sure.
Begin with each mortgage back security that have been shown not to exist. These were sold to different trusts by altering a number in a computer database. Each loan was sold using the same method to multiple securities. They sold them so many times there is nothing left to collect due to their being paid back 10x for each loan. Then they resold them. There is only proof on these going back about 15 years.
I worked for a Canadian bank and I KNOW that their London branch hypo's and rehypo's clients deposits.
Canadian banks have been running their $ laundering and off shore tax shelter scams from their pirate empire in the Caribbean(capital: Grand Cayman) longside their political bedmates since before Meyer Lansky smoked his first Montecristo.
In point of fact, Bronfmans and the rest of the Montreal Kosher mafia were way up on the pecking order from Meyer and his calabrian gofers...while Joe Kennedy & Sons were nothin more than down the line distributors...too bad Jack had to screw it up huh?
Anglo-American Establishment. Five generations of fronting for their Macher bosses. What a bunch o schmegeggy schnooks. Even a schvartze can do a better job of it these days!
As concise and accurate an appraisal of the Canadian socio-economic situation as I have ever seen. Too bad most of us Canucks can't (or won't) see it. I moved my assets out of CIBC and RBC 8 years ago, converted them to yellow and white shiny stuff, and buried them in a deep hole in the backyard. With nary an institutional investment in my possesion I am 400% wealthier than I was in 2003. And I sleep well.
Our cup of fucketh run over
Unless I'm missing something, even though Canadian banks are being bad boys here, they are taking advantage of London officed subsidiaries like the other TBTF banks??? And this after Yves Smith told us months ago Britain was going to "get tough" with their banking laws and put America to shame??? Damn, it's getting to where you can't even trust some moody cunt who hosts a blog anymore.
This is scary shit. Good work ZH!
>Canadian banks are sitting on a mountain of shit.
They are sitting on a ton of shit for the same reason Canada has a single department for immigration and multiculturalism. Canada is a great country, rich with natural resources. The global elite can't control Canada without wiping out their financial system. They wipe out the financial system, bring in ethnic minorities (soon to be majorities) to create social friction, and soon enough Canadians are too busy fighting immigrants, and their offspring, to notice that their country is being raped.
Zapp Brannigan: "...If we can hit that bullseye, the rest of the dominoes will fall like a house of cards. Checkmate.
Next is the Buck-Breaking MMF's :
Here's the article from MacLean's magazine that talks about this coming mortgage crash in Canada.
I wondered how all my buddies were getting loans out the ying-yan, or levering up several houses on top of each other -- "You just don't tell the bank you own other houses!" How does that work?!--without somebody catching on or caring? Because the foolish CMHC is on the hook. The banks don't give a &^% It's our own NINJA/subprime just waiting to explode.
Do the gozintas. You know, the arcane math theorem developed by my dad, the math teacher!! 2 gozinta 4 twice! How can people afford a loan for a house in Toronto that's worth $550,000 on a double income? Because it's for 40 years and at virtually zero interest! The prices have been going up and up and up! Doesn't anybody remember 1989? I do.
And when the rates go from 3.5% to 8? We're sunk.
Buy gold. Buy guns. Buy food.
Whoops. Here's the article.
Im actually listening to this currently (and on repeat):
Damn Kyle Bass Redux video posted a few days ago got it stuck in my head...
Ok, I'm reading it again. Thanx dude.
Or The Doors 'The End'
Emerson wrote, 'Events are in the saddle and ride mankind.' Events are mounting up.
This kind of reporting kicks ass compared to anything, anywhere, anytime. Bravo ZH and all you shadow tylers! Really fine - awesome - work.
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