For those of you who are interested in how our financial system works I suggest you go to:
counterpunch period orge (I had to change things due to yahoo's not allowing links. Use your imagination to get to the correct place. I suggest you revise period to . and eliminate the e from orge with no spaces).
Once you get to the right place click on the 4/30 article by Ellen Brown in the left column.
Ellen Brown can be “out there” at times but generally provides good information on how the banksters rig the system to their advantage and at times, some solutions.
If you take the time to read this article, I'd like to know if you found it enlightening or if I should just shut my trap and quit trying to provide data that could have a significant impact all of us.
I look forward to hearing from you.
You're beating the snot out of me which is to be expected due to my more conservative approach.
Normally I'd say April was a good month ..... but when comparing my performance to the market, it's only so, so. Overall I shouldn't complain since I'm still sitting on about 10% cash and patiently waiting.
YTD I'm up 11.68% all things considered. This compares to 10.44% at the end of March.
My three best performers YTD are:
SSW +38.57% ..... a good stock with a great business plan.
NRP +31.04% ..... a dog which I'm taking advantage of.
VZ +26.04% .... you all know the story on this one.
My three worst performers YTD are:
PZG -17.16% ..... a spec gold stock I'm just playing with and recently added to in hopes of a decent score.
MSB -14.14% .... a good div payer which cycles and will come back later in the year even if iron doesn't.
SCCO You've covered this one.
Funny thing is that of my five Schwab accounts the most conservative one is doing the best at +15.59% YTD.
I'm not complaining too much and I am stunned by market performance so far .... I just can't believe it will last.
It's a board from which you may get a transfusion of knowledge.
Google 'Investor Village" to make an appointment .... you'll have to very careful to avoid being stuck.
If you haven't bought that SCCO flip may I suggest you cancel it.
This Boston news is going to impact the market beyond today. I'm going to cancel a buy I put in today and hope for the best.
I've been a bad bad boy again and used a word that yahoo doesn't like so they sent me to neverseeland. I'll try again.
The numbers say you're correct.
It's also of note that the volume is up more than 50% from average.
But maybe there's a bunch of slow furry little critters (other word banned) that haven't reached the edge of the cliff yet.
Since when I buy I intend to hold and since I don't have a wife who has come to expect lavish dinners and I don't need a new deck, kitchen re-do or a new stainless firdge I'll think I'll wait.
But ...... getting a free start to a new garage at the camp would be nice. Additionally, I could do my civic duty and send a nice short-term capital gain check to my uncle to support his good work. Nahh .... that turkey would probably just take my money, borrow another 40%, and then stick me with the bill.
I already forecast this problem on March 6th in my China post and again on April 2nd. when I responded to you asking this very same question.
Ya gotta read the answers and quit asking the same questions.
Things are however changing a bit, mostly IMHO, because tutes are in a panic mode to get out of leveraged positions to avoid taking a bath. Tute painc is in the air and as Rham once said never let a good crisis go to waste. Private investors by-and-large have NO impact the market.
So ..... what to do? With regard to SCCO, I'll hold my current positions and look to put some cash to work on dips at or below $30. Additionally, if I wanted to buy some more insurance (and I do) I'd look to physical silver coinage (from APMEX) on further dips and put it away for a rainy day. With regard to other investments its a bit tougher. Ask yourself the question do you want to try to "catch a falling knife" at the bottom or wait buy on an upswing? In this case the upswing may be the better answer. It's not to late to do your homework regarding things you may want to invest in.
In closing, China's GDP is whatever China wants it to be regardless of the FACTS. Europe is DEEP STUFF and will have to address their problems (sooner rather than later) as will the U.S.. The U.S. is IMO the best house in a bad neighborhood unless you want to take chances on second or third world countries (which at this time I don't).
Good luck, this could be the start of "no guts no glory time" for those who can afford it.
This was an exact paragraph from my attempted post in the Cyprus string that was repeatedly banned.
So I guess the subject matter passes, but I'll have to eliminate my use of banned (?) non-swear words or maybe words that refer to certain firearms.
Here we go:
That leaves the question IF a major U.S. bank fails, and we do bail it out, how would we get the money? I guess it's possible that the government could get the cash by borrowing from the FED so they can than bail-out one of the FED's member banks and its "insured" depositors using money U.S. taxpayers are obligated for and will pay interest on,
Does that seem fair to you?
Very interesting, banned words, context means nothing.
My first banned word is very close to "cook" but you'd have to add an r in the second position. My second banned word rhymes with "bum" only with a start with an s and eliminate the b.
Now the big test subject mattert will be in the next post.
Not exactly like my post. I did not have any off-color words. So let me try this, let's call it a context test.
I got a #$%$" in my neck from cleaning the #$%$" from my pond.
If this post takes my next post will be a subject test.
Dar, you were correct, it's the subject matter. Although Yahoo changed two words they were not swear words #$%$ and idiot).
Additionally, my revised post would not take initially bucause I mentioned Yahoo standards.
A sad state of affairs..
I love president Obama. As far as I'm concerned he's the second best black president after Bill Clinton.
Nancy Polosi and Harry Reid are aces in my book. I think they're just misunderstood. John Boehner is a #$%$ sucking shill for big business. He's a #$%$ and he smokes.
There, I've changed my initial response to you slightly
You are an idiot spammer ..... wake-up, get out of your mommy's basement, and find a real job more suited to your talents ..... like cleaning out horse stalls.
Whatdayamean .... it makes no sense.
What have all the pundits always said about Dr. Copper? It forecasts the status of the world economy.
What is the status of the world economy? Whose economy most impacts the demand for copper?
Answer ..... China.
What's happening to the China economy? Yeah ..... its better than most other world economies but has its growth rate slowed? You bet. Do you know why?
The expansion of the China economy (although still good) has impacted the demand for copper and other materials and that has therefor affected SCCO.
What's the answer for SCCO ........ simple, keep declaring dividends like we got in the 4th. quarter and SCCO will soar.
That last part was TIC.
World powers (bankers and/or governments) could declare that anyone who put money in a risky scheme is entitled to ZERO (regardless of “insurance”). THAT would set the world banking community on its ear and JUSTLY penalize those who foolishly invested in these schemes (i.e. financial institutions, pension funds, local governments, churches, etc.) …... not a good thing if you want to get your re-election campaign funded, and, after all, it's ALWAYS about getting re-elected. So, if it is decided that there will “no bail-out”, it would probably be best to “kick the can down the road” again by screwing a few “insured” depositors most of whom you could then portray as “rich”.
Lastly, if the worst happens DO NOT think the contents of your safe deposit box is SAFE.
I realize that in the U.S. depositors are insured for up to $250,000. But ….. I also realize that AIG insured a lot of things for which they were incapable of paying when our housing bubble burst..
The question is ….. IF (emphasis on IF) a major U.S bank (such JPM, C or BA) failed where would the money come from to pay-off the “insured” depositors? Would the U.S. government even bail-out a major U.S. bank again? If so, where would they get the money and what would the impact be on everyone including Joe Six-Pack? The term “dollar devaluation” comes to mind.
Or ….. if the government says “no more bail-outs”, I suspect insured depositors could also be on the hook (at the risk of some lost votes and partial destruction of confidence). The initial Cyprus bail-out proposal was” accidentally” called a “template” for good reason. Fortunately for Cyprus, their problem was so small another solution was found after the people went to the streets.
Just because someone tells you that your deposits are “insured” for up to $250,000 doesn't make it TRUE ….. especially if the capability to pay is not there.
IF a major bank failure comes, IMHO it will be derivative driven. I believe that failure will likely come outside the U.S. (probably the Euro Zone) and we may then see if the INITIAL Cyprus proposal is indeed a “template.”
Just a little more info regarding Cyprus and IF the" Cyprus Templet" were ever used in other economies including the U.S..
The Cyprus haircut on depositors was called a "wealth tax" and was written off by commentators as "deserved," because much of the money in Cypriot accounts belongs to foreign oligarchs, tax dodgers and money launderers. But if that template is applied in the US, it will be a tax on the poor and middle class. Wealthy Americans don't keep most of their money in bank accounts. They keep it in the stock market, in real estate, in over-the-counter derivatives, in gold and silver, and so forth.
Are you safe, then, if your money is in gold and silver? Apparently not -- if it's stored in a safety deposit box in the bank. Homeland Security has reportedly told banks that it has authority to seize the contents of safety deposit boxes without a warrant when it's a matter of "national security," which a major bank crisis no doubt will be.
Something to think about especially since just two major banks (JPM and B or A) hold derivatives with a notional value in excess to $150 TRILLION, which by the way, is more than double global GDP.
Can anyone say "house of cards".