• Pivotfarm
    05/30/2015 - 08:32
    Warren Buffet isn’t one of the richest men in the world with the flair for making a fast buck or two for nothing.

Mark To Market

Phoenix Capital Research's picture

If Gold Is Not Money… Why Do Clearinghouses and Former Fed Chairs Say It Is?





Take note, Gold is officially money for the most powerful entities in the world. They are not only accepting Gold as collateral but are openly trying to insure that they have their own Gold in safe custody.

 
Tyler Durden's picture

Black Swan 2: This Is "The Next Critical Chapter In The Austrian Banking System Story"





"A relatively low-profile entity in Austria – Pfandbriefbank Oesterreich AG (Pfandbriefbank) – is becoming the next critical chapter in the Austrian banking system story." - Daiwa

 
Tyler Durden's picture

Happy 6th Birthday: The Day FASB Folded & "Mark-To-Fantasy" Was Born





The captured corporate MSM is celebrating the six year anniversary of when the stock market bottomed in March 2009. They will spin a false narrative of Bernanke, Obama and Geithner saving the world with TARP, QE, and the $800 billion Porkulus bill. In fact, Bernanke and Geithner stopped the market from falling in March 2009 by threatening the accounting geeks at the FASB and forcing them to allow fraudulent reporting by the insolvent Wall Street banks. The crisis ended – precisely – on March 16, 2009, when the Financial Accounting Standards Board abandoned FAS 157 "mark-to-market" accounting, and Mark to fantasy was born.

 
Tyler Durden's picture

On February 7, 2009 Bernanke Admitted What It Was All About





"I am somewhat concerned, at least given the way things stand now, about the market reaction. First, the lack of details will create some uncertainty and concern, particularly because there’s not a great deal said about the “problem children,” the BAC and Citi. Secondly, I think the markets will be disappointed in the following sense: As I will describe, this is a real truth-telling kind of plan. It’s fundamentalist. It’s not about giving the banks a break. It’s not about using accounting principles  to give them backdoor capital. It’s very much market-oriented and “tough love.” And I think we all will like that. I like that. But the banks’ shareholders aren’t going to be thrilled about it."

 
Reggie Middleton's picture

Stab, er... I Mean... Beggar Thy Neighbor - It's ALL OUT (Currency) WAR! Pt 2





The Japanese fire at the Europeans. The Europeans fire at the Japanese & Chinese. The Chinese fire scattershot at everybody else in Asia. England & America prep to teach those they consider muppets not to play with guns. It's World War Money, if you know what I mean...

 
Tyler Durden's picture

The Oil Market Actually Works, And That Hurts





The benefits of cheap oil are no match for the destruction that touches on a thousand different parts of our economies. It doesn’t help that much of both Canadian and American oil, especially the unconventional kinds, were drowning in debt even before oil turned south with a vengeance. But that’s not even the most crucial part. Our entire economies revolve around oil, it’s not just something that you put in your car, oil is everywhere, it’s built our world and it maintains it. And therefore the effects of a sudden 40% price drop – and counting – will be felt everywhere. What we’ve seen so far can still be labeled ‘orderly’, but that’s not going to last. Still, look at the bright side: at least you can say that for once in your life you’ve witnessed a functioning market.

 
Phoenix Capital Research's picture

The Bond Markets Are Primed For an Epic Crash Far Worse Than 2008





The single most important issue for understanding why the finacnial system is not healthy and why we’re set to have an even bigger crash than in 2008 has to do with one word…

 
GoldCore's picture

Prepare For Dollar Collapse With 33% Allocation To Gold - Rickards





Rickards does not expressly say one should put 33% of one’s wealth in gold but suggests that an allocation of between 10% and 33% would be prudent. In this regard, he echos Dr Marc Faber who suggested a 25% allocation to precious metals last week.

 
Tyler Durden's picture

Guest Post: How I Renounced My US Citizenship And Why (Part 2)





The following is Part 2 (Part 1 here) a firsthand story of how and why a former US citizen - who kindly shared this information on condition of anonymity - decided to renounce his US citizenship

 
Tyler Durden's picture

Guest Post: How I Renounced My US Citizenship And Why (Part 1)





The following is a firsthand story of how and why a former US citizen - who kindly shared this information on condition of anonymity - decided to renounce his US citizenship

 
Tyler Durden's picture

The Fallacy Of The Volcker Rule (Or "Fixing" The Banks In 5 Easy Steps)





Volcker Rule - Who cares?  I know we are supposed to care more about this convoluted rule, but we just can’t. The concept that somehow “prop” trading brought down the banks seems silly.  The idea that market making desks were a dangerous part of the equation is ludicrous. They could have fixed this with a few simple changes, but that would have meant some blame would have had to be shifted onto the regulators...

 
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