Following are the top ranked safest banks in Europe:
KfW Germany - It is one of the leading and most experienced promotional banks in the world, ranked No. 1 among the World's Safest Banks in the Global Finance magazine. KfW has received an award from the International Financing Review (IFR) for outstanding capital market achievements in the year 2010.
Caisse des Depots et Consignations (CDC) -
Monday, February 28, 2011
Headlong Into Hyper-inflation
After last week's mini-correction - which is probably the worst decline we'll see for a while - stocks and the Fed are back on track, pumping newly-created POMO dollars into the system for the banking crooks to parlay into stocks. Up, up and away!
According to the Fed's published schedule of monetary injections, today was slated for $6-8 billion in outright coupon purchases. In other words, the Fed is buying back bonds from the Primary Dealers which were purchased just a few weeks ago, presumably at a loss, a small loss, but, nevertheless, a loss, so that the banks will remain willing participants to the Zimbabwe-ification of the US financial system.
These continued injections have become so commonplace that nobody bothers to report on them or even think about them. For those unfamiliar with the process, let's recap:
Step 1: The US Treasury issues bonds in certain amounts and maturities.
Step 2: Primary Dealers (AKA Too Big To Fail (TBTF) banks) buy the bonds.
Step 3: The Federal Reserve buys the bonds from the TBTF banks.
This is the simple process by which our currency is devalued every day and how the banks are shoring up their horrifically-insolvent balance sheets. While the Fed takes a loss of say, half a billion a day, the banks record the transaction as a profit. Viola! The banks are once again sound. The only problem is that the Fed is holding huge amounts of government debt.
Now, if you've been following carefully, you might question the process. Why bother? Why not just give the banks the money directly from the Federal Reserve, since they have the ability to just create money out of thin air?
Ah, what about the government's obligations? They must issue debt, so the game must continue. The auctions, however, conducted in secrecy, electronically, so that only a few people - ostensibly Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner - know who's buying what and for how much.
That's a problem, for obvious reasons, and explains, in part, why some people are beginning to think that the entire economy of the United States has already sunk and is being kept afloat by a massive fraud, perpetrated by the Federal Reserve, Treasury Department and the nation's six to eight largest banks (with assistance from European Central banks who are doing pretty much the same thing).
Nobody is buying US government debt. Nobody could be that stupid. The Fed is buying it all, monetizing the debt, smashing down interest rates and destroying the currency. The tiny little secret nobody wishes to speak of is that the rest of the world had better play along or their currencies will be flushed straight into the toilet along with billions of Ben Bernanke Bucks.
Yes, the Federal Reserve is buying all Treasuries issued, cooking their own books and helping out the banks, because, if they don't do it, we'll just have to liquidate those TBTF institutions and Jamie Dimon (our next Treasury Secretary) and his wealthy friends wouldn't like that. Besides, the Fed and the banks and the politicians they control would no longer be able to sway the American public every which way, as they choose.
Think about it. The Chinese stopped buying our debt at least a year ago. They are trying to unload it as fast as they can without causing a panic. Japan is also no longer interested. Reportedly, the UK has been buying scads of the stuff, but they're even more broke than we are, so that's a gigantic canard.
The Fed is buying all, or nearly all, of US debt issuance. We are a self-dealing, Ponzi-fied, Zimbabwe on steroids. There's no doubt about it and there's also no way out. The Fed cannot stop creating money because it just gets more and more worthless every day. It's being spent as quickly as they can put it into circulation, forcing prices higher and higher, inflating everything on the planet - including stocks - in a very devious, vicious cycle all caused by the bankers who imploded the world's economy back in 2008 when they couldn't figure out a way to cover all their bets without all of them failing.
That is when Hank Paulson, then Treasury Secretary, with Ben Bernanke as his willing accomplice, figuratively held a gun to the heads of the President, George W. Bush, and the leaders of congress and demanded $700 billion dollars with no strings attached. It was the crime of the century, committed in broad daylight, in front of hundreds of millions of people worldwide.
Ever since then, all we've gotten for our time and money is a song and dance, orchestrated to keep us all in line and dong the "recovery boogie." It's such an absolute charade, a sham and a complete lie that a lot - and I do mean a lot - of people are coming to the conclusion that it's not working, that we're stuck in this no-jobs, no-growth, high-inflation limbo until the the bar finally falls to earth.
The big holders of mortgage-backed securities are suing the banks with regularity. They want their money back for all the bad securities issued by the banks, backed by mortgages which were written with no other purpose than to have the homeowner default.
Insurance companies suing banks, with the Fed printing money as fast as they possibly can and prices rising globally because of it results in an unsustainable situation. It's already bad, and quickly getting worse. The rest of what suffices for news these days is just for show.
Think about it. In Wisconsin, they're trying to fill a $3 billion void in their budget. Why, the Fed issues twice that amount through their Treasury purchases EVERY DAY! Oil hitting $100 a barrel? All caused by uncontrolled speculation and outright thievery. There's a glut of oil out there and what the big energy companies are really worried about is people rationing their use of gas, taking fewer trips and buying less. with so many people out of work, they have little driving to do, and the oil companies are just trying to remain as richly profitable as they've always been by CHARGING MORE TO FEWER CUSTOMERS.
QE2, the Fed's gambit to restore economic prosperity by issuing more paper money, is slated to end by June. After that, it's anybody's guess, but the path of least resistance - and most sense, from an OMG mentality - would be to continue printing more. There's no economy, tax revenues have fallen off a cliff, and the Fed, because they've chosen to keep insolvent banks operating instead of closing them down, is powerless to do anything but what they've been doing for 2 1/2 years: print, print, print, and when you're done printing, print some more. Hello hyperinflation, followed by an acute depression, the worst ever seen. See you in Hades, Mr. Bernanke, because that's precisely where you and your policies are sending everyone else.
Dow 12,226.34, +95.89 (0.79%)
NASDAQ 2,782.27, +1.22 (0.04%)
S&P 500 1,327.22, +7.34 (0.56%)
NYSE Composite 8,438.55, +60.51 (0.72%)
Advancing issues outpaced decliners, 4051-2535. NASDAQ new highs: 144; new lows: 21. NYSE new highs: 258; new lows: 15. Volume was back down in the doldrums again, so everything is back to normal.
NASDAQ Volume 2,057,503,500
NYSE Volume 4,593,278,500
Oil prices fell again today, down 91 cents, to $96.97, but the damage has been done. Regular unleaded gas is now at a national average of $3.37 per gallon. Seven states are already over $3.45. Want to see a recession created almost overnight. Push ol to $115 a barrel and gas to a national average of $3.75 and see what happens. The protests in Wisconsin will look more like a picnic compared to the mass outrage that induces. Already, people are reconsidering their choices of paying $75-150 a week to get to and from a job that pays them less than $400 a week, taking home $300-340. For many, it's just not worth it any more.
Meanwhile, gold bugs and silver surfers are loving the chaos. Gold was up again today, but only by 60 cents, to $1,409.90. It was as high as $1,416 in earlier trading. Gold is now being pressured downward, or at least held down, for two reasons. First, the banker's know that everyone watches gold as a proxy to fiat currencies, so they are suppressing demand. Second, the very same banks want to hoard it, because they know everyone is right. The global economy is as close to complete meltdown as it was in the fall of 2008.
Silver got all the gains today, up 91 cents (same as the drop in oil, coincidentally), to $33.80. We're unsure whether or not that's a new 30-year high; we only know that $50 per ounce is the number that stopped the Hunt brothers back in 1979-80. When the bubble they created finally burst, Nelson Bunker Hunt, who purportedly lost more than a billion dollars in one day, said, "a billion dollars isn't what it used to be."
And, so, those immortal words, while the Fed pumps billions into an eventual oblivion, ring more true than ever, today.
According to the Fed's published schedule of monetary injections, today was slated for $6-8 billion in outright coupon purchases. In other words, the Fed is buying back bonds from the Primary Dealers which were purchased just a few weeks ago, presumably at a loss, a small loss, but, nevertheless, a loss, so that the banks will remain willing participants to the Zimbabwe-ification of the US financial system.
These continued injections have become so commonplace that nobody bothers to report on them or even think about them. For those unfamiliar with the process, let's recap:
Step 1: The US Treasury issues bonds in certain amounts and maturities.
Step 2: Primary Dealers (AKA Too Big To Fail (TBTF) banks) buy the bonds.
Step 3: The Federal Reserve buys the bonds from the TBTF banks.
This is the simple process by which our currency is devalued every day and how the banks are shoring up their horrifically-insolvent balance sheets. While the Fed takes a loss of say, half a billion a day, the banks record the transaction as a profit. Viola! The banks are once again sound. The only problem is that the Fed is holding huge amounts of government debt.
Now, if you've been following carefully, you might question the process. Why bother? Why not just give the banks the money directly from the Federal Reserve, since they have the ability to just create money out of thin air?
Ah, what about the government's obligations? They must issue debt, so the game must continue. The auctions, however, conducted in secrecy, electronically, so that only a few people - ostensibly Fed Chairman Ben Bernanke and Treasury Secretary Tim Geithner - know who's buying what and for how much.
That's a problem, for obvious reasons, and explains, in part, why some people are beginning to think that the entire economy of the United States has already sunk and is being kept afloat by a massive fraud, perpetrated by the Federal Reserve, Treasury Department and the nation's six to eight largest banks (with assistance from European Central banks who are doing pretty much the same thing).
Nobody is buying US government debt. Nobody could be that stupid. The Fed is buying it all, monetizing the debt, smashing down interest rates and destroying the currency. The tiny little secret nobody wishes to speak of is that the rest of the world had better play along or their currencies will be flushed straight into the toilet along with billions of Ben Bernanke Bucks.
Yes, the Federal Reserve is buying all Treasuries issued, cooking their own books and helping out the banks, because, if they don't do it, we'll just have to liquidate those TBTF institutions and Jamie Dimon (our next Treasury Secretary) and his wealthy friends wouldn't like that. Besides, the Fed and the banks and the politicians they control would no longer be able to sway the American public every which way, as they choose.
Think about it. The Chinese stopped buying our debt at least a year ago. They are trying to unload it as fast as they can without causing a panic. Japan is also no longer interested. Reportedly, the UK has been buying scads of the stuff, but they're even more broke than we are, so that's a gigantic canard.
The Fed is buying all, or nearly all, of US debt issuance. We are a self-dealing, Ponzi-fied, Zimbabwe on steroids. There's no doubt about it and there's also no way out. The Fed cannot stop creating money because it just gets more and more worthless every day. It's being spent as quickly as they can put it into circulation, forcing prices higher and higher, inflating everything on the planet - including stocks - in a very devious, vicious cycle all caused by the bankers who imploded the world's economy back in 2008 when they couldn't figure out a way to cover all their bets without all of them failing.
That is when Hank Paulson, then Treasury Secretary, with Ben Bernanke as his willing accomplice, figuratively held a gun to the heads of the President, George W. Bush, and the leaders of congress and demanded $700 billion dollars with no strings attached. It was the crime of the century, committed in broad daylight, in front of hundreds of millions of people worldwide.
Ever since then, all we've gotten for our time and money is a song and dance, orchestrated to keep us all in line and dong the "recovery boogie." It's such an absolute charade, a sham and a complete lie that a lot - and I do mean a lot - of people are coming to the conclusion that it's not working, that we're stuck in this no-jobs, no-growth, high-inflation limbo until the the bar finally falls to earth.
The big holders of mortgage-backed securities are suing the banks with regularity. They want their money back for all the bad securities issued by the banks, backed by mortgages which were written with no other purpose than to have the homeowner default.
Insurance companies suing banks, with the Fed printing money as fast as they possibly can and prices rising globally because of it results in an unsustainable situation. It's already bad, and quickly getting worse. The rest of what suffices for news these days is just for show.
Think about it. In Wisconsin, they're trying to fill a $3 billion void in their budget. Why, the Fed issues twice that amount through their Treasury purchases EVERY DAY! Oil hitting $100 a barrel? All caused by uncontrolled speculation and outright thievery. There's a glut of oil out there and what the big energy companies are really worried about is people rationing their use of gas, taking fewer trips and buying less. with so many people out of work, they have little driving to do, and the oil companies are just trying to remain as richly profitable as they've always been by CHARGING MORE TO FEWER CUSTOMERS.
QE2, the Fed's gambit to restore economic prosperity by issuing more paper money, is slated to end by June. After that, it's anybody's guess, but the path of least resistance - and most sense, from an OMG mentality - would be to continue printing more. There's no economy, tax revenues have fallen off a cliff, and the Fed, because they've chosen to keep insolvent banks operating instead of closing them down, is powerless to do anything but what they've been doing for 2 1/2 years: print, print, print, and when you're done printing, print some more. Hello hyperinflation, followed by an acute depression, the worst ever seen. See you in Hades, Mr. Bernanke, because that's precisely where you and your policies are sending everyone else.
Dow 12,226.34, +95.89 (0.79%)
NASDAQ 2,782.27, +1.22 (0.04%)
S&P 500 1,327.22, +7.34 (0.56%)
NYSE Composite 8,438.55, +60.51 (0.72%)
Advancing issues outpaced decliners, 4051-2535. NASDAQ new highs: 144; new lows: 21. NYSE new highs: 258; new lows: 15. Volume was back down in the doldrums again, so everything is back to normal.
NASDAQ Volume 2,057,503,500
NYSE Volume 4,593,278,500
Oil prices fell again today, down 91 cents, to $96.97, but the damage has been done. Regular unleaded gas is now at a national average of $3.37 per gallon. Seven states are already over $3.45. Want to see a recession created almost overnight. Push ol to $115 a barrel and gas to a national average of $3.75 and see what happens. The protests in Wisconsin will look more like a picnic compared to the mass outrage that induces. Already, people are reconsidering their choices of paying $75-150 a week to get to and from a job that pays them less than $400 a week, taking home $300-340. For many, it's just not worth it any more.
Meanwhile, gold bugs and silver surfers are loving the chaos. Gold was up again today, but only by 60 cents, to $1,409.90. It was as high as $1,416 in earlier trading. Gold is now being pressured downward, or at least held down, for two reasons. First, the banker's know that everyone watches gold as a proxy to fiat currencies, so they are suppressing demand. Second, the very same banks want to hoard it, because they know everyone is right. The global economy is as close to complete meltdown as it was in the fall of 2008.
Silver got all the gains today, up 91 cents (same as the drop in oil, coincidentally), to $33.80. We're unsure whether or not that's a new 30-year high; we only know that $50 per ounce is the number that stopped the Hunt brothers back in 1979-80. When the bubble they created finally burst, Nelson Bunker Hunt, who purportedly lost more than a billion dollars in one day, said, "a billion dollars isn't what it used to be."
And, so, those immortal words, while the Fed pumps billions into an eventual oblivion, ring more true than ever, today.
Stock Exchanges in Brazil
Main stock exchanges in Brazil include: São Paulo Stock Exchange (BM&F Bovespa); Rio de Janeiro Stock Exchange (BVRJ); Maringá Mercantile and Futures Exchange; BOVMESB (Minas, Brasília and Espírito Santo Stock Exchange).
BM&F Bovespa
- It was created in 2008 through the integration between the São Paulo Stock Exchange and the Brazilian Mercantile & Futures Exchange.
- It is the most important
BM&F Bovespa
- It was created in 2008 through the integration between the São Paulo Stock Exchange and the Brazilian Mercantile & Futures Exchange.
- It is the most important
Safest Banks in Middle East
Following are the top rated safest banks in the Middle East:
National Bank of Kuwait (NBK)
- NBK has been known as ‘The Bank You Know And Trust’. It boasts the largest overseas branch network spanning many of the world financial and business centers.
- Ranked as the No. 1 safest bank in the Middle East by the Global Finance magazine in 2010.
- It was also named the Best Bank in the Middle East (
National Bank of Kuwait (NBK)
- NBK has been known as ‘The Bank You Know And Trust’. It boasts the largest overseas branch network spanning many of the world financial and business centers.
- Ranked as the No. 1 safest bank in the Middle East by the Global Finance magazine in 2010.
- It was also named the Best Bank in the Middle East (
Sunday, February 27, 2011
Finance Companies in New Zealand
List of top largest finance companies in New Zealand:
South Canterbury Finance - It is one of the biggest finance companies in New Zealand, with a strong regional presence throughout the country. The team at South Canterbury Finance specialise in business finance, personal loans and providing personalised, friendly service.
UDC Finance Limited - It is the nation’s leading asset finance company
South Canterbury Finance - It is one of the biggest finance companies in New Zealand, with a strong regional presence throughout the country. The team at South Canterbury Finance specialise in business finance, personal loans and providing personalised, friendly service.
UDC Finance Limited - It is the nation’s leading asset finance company
Top Largest Banks in Asia
Asia is home to some of the world's top largest banks such as the follows:
Industrial and Commercial Bank of China (According to the Millward Brown Optimor's 2009 ranking of Top 100 Most Valuable Brands, ICBC ranked top of all financial institutions).
China Construction Bank (In the ranking of "50 Best Chinese Brands 2010” announced by Forbes China magazine, CCB’s brand value is ranked 3rd, which
Industrial and Commercial Bank of China (According to the Millward Brown Optimor's 2009 ranking of Top 100 Most Valuable Brands, ICBC ranked top of all financial institutions).
China Construction Bank (In the ranking of "50 Best Chinese Brands 2010” announced by Forbes China magazine, CCB’s brand value is ranked 3rd, which
Largest Asset Management Firms
Following are among the largest asset management firms/companies in the world:
State Street Global Advisors (SSgA) - It is the asset management business of State Street Corporation and the world’s second largest asset manager, with USD $1.9 trillion in assets under management as of June 2010.
Barclays Global Investors (BGI) - It is one of the largest asset managers in the world. Barclays
State Street Global Advisors (SSgA) - It is the asset management business of State Street Corporation and the world’s second largest asset manager, with USD $1.9 trillion in assets under management as of June 2010.
Barclays Global Investors (BGI) - It is one of the largest asset managers in the world. Barclays
Saturday, February 26, 2011
Top Largest Banks in Middle East
The top largest banks in the Middle East include Emirates NBD, The National Commercial Bank, National Bank of Abu Dhabi, Arab Bank, Samba Financial Group, among others.
Emirates NBD is the largest bank in the Middle East in terms of assets. It has received two leading international banking awards from the New York based leading publication, Global Finance Magazine. It has been named as Best
Emirates NBD is the largest bank in the Middle East in terms of assets. It has received two leading international banking awards from the New York based leading publication, Global Finance Magazine. It has been named as Best
Largest Mutual Fund Companies
The best and largest mutual fund companies in the world are The Vanguard Group, PIMCO, Fidelity Investments, J.P. Morgan, among others.
The Vanguard Group is one of the two largest mutual fund companies in the world. Vanguard 500 Index Fund, the largest fund in the group, was founded by Mr. Bogle in 1975. It was the first index mutual fund. The company manages more than $491 billion (as of
The Vanguard Group is one of the two largest mutual fund companies in the world. Vanguard 500 Index Fund, the largest fund in the group, was founded by Mr. Bogle in 1975. It was the first index mutual fund. The company manages more than $491 billion (as of
Top Largest Banks in Africa
The top largest banks of Africa are Standard Bank Group, Mauritius Commercial Bank Ltd, State Bank of Mauritius, National Bank of Egypt, among others.
Standard Bank is Africa’s largest bank by assets. The Corporate and Investment Banking division offers banking, finance, trading, investment, risk management and advisory services to larger corporates, financial institutions and international
Standard Bank is Africa’s largest bank by assets. The Corporate and Investment Banking division offers banking, finance, trading, investment, risk management and advisory services to larger corporates, financial institutions and international
Friday, February 25, 2011
Stock Exchanges in Nigeria
Following are the principal stock exchanges in Nigeria:
Nigerian Stock Exchange (NSE)
- It was founded in 1960 as the Lagos Stock Exchange. In December 1977 it became The Nigerian Stock Exchange, with branches established in some of the major commercial cities in the country.
- The branch in Lagos was opened in 1961; Kaduna, in 1978; Port Harcourt, in 1980; Kano, in 1989; Onitsha, in February
Nigerian Stock Exchange (NSE)
- It was founded in 1960 as the Lagos Stock Exchange. In December 1977 it became The Nigerian Stock Exchange, with branches established in some of the major commercial cities in the country.
- The branch in Lagos was opened in 1961; Kaduna, in 1978; Port Harcourt, in 1980; Kano, in 1989; Onitsha, in February
Short Attention Span Investing
These days, investors have extremely short memories. The Ponzi system that is running - and ruining - Wall Street likes it that way because they can profit from excess trading and wild swings in prices.
Just four days ago, the world seemed to be about to end. Lybia was exploding and the oil we get from the Middle East was about to be cut off. Panic was rampant. Too bad it was all a lie and the big move in oil prices due more to speculation than the madness of kings and monarchs.
The US gets the vast majority of its oil from Canada, Mexico, Nigeria and Venezuela, though Saudi Arabia is third on the list. Lybia isn't even in the Top 15 and Algeria's contribution amounts to more of a rounding error than a vital statistic.
Like the manufactured gasoline shortages of the 70s, the recent oil scare was purely for the entertainment and profit of the privileged class of investors who rig the game and they did just fine, thank you, now having sold their shares at the top and repurchased at a better price, which, of course, they will pimp and pump to the half dozen retail investors remaining solvent until the next "disaster du jour."
Stocks remain overvalued since the few days of decline did little to deflate the current bubble. There's really no good reason to own any equities at all unless you have a vested stake in a certain company's fortunes or can derive a substantial dividend without any risk (impossible).
Gold and silver have sold off a bit as the week dragged on from panic to placidity, though they remain the best investments and nothing that happens between now and the end of time (2012?) will change that. In fact, one need not even tie up money in precious metals. Cash is still useful, as are some of the things it buys, like hard capital goods, machinery, tools, select art and rarities, for which there will always be a market.
In any case, Wall Street saw fit to end the week on a high note, though they didn't exactly make much of a dent in the big declines from Tuesday and Wednesday. Thank goodness it was a short week or it would have likely ended at new highs.
Dow 12,130.45, +61.95 (0.51%)
NASDAQ 2,781.05, +43.15 (1.58%)
S&P 500 1,319.88, +13.78 (1.06%)
NYSE Composite 8,378.04, +101.75 (1.23%)
Winners led losers by an outrageous margin, 5291-1272, confirming the belief that insiders executed a perfect pump-dump and buy on the unsuspecting, foolish public once again. That kind of disparity is usually reserved for days led by stunning positive news, though nowadays any good POMO from the Fed will suffice, apparently. Volume was once again in the sewer, as has been the norm. There is always higher relative volume on sell-offs than on purely positive sessions.
On the NASDAQ, there were 88 new highs and 22 new lows. There were 135 new highs and 12 new lows on the NYSE. Thank you Chairman Comrade Bernanke!
NASDAQ Volume 1,894,895,125
NYSE Volume 4,380,597,000
Crude oil gained 60 cents, to close at $97.88, but was up 9% for the week. Get ready to start pushing your car to work. Gold lost $6.50 in value, to $1,409.30, and silver was down 27 cents, though the recent run has put the price near or at 30-year-highs.
And just in case you don't actually believe the CPI measures inflation properly, here's one man's figures on how much prices are actually rising.
Ah, well, enjoy the weekend. Spring Training is well underway. In fact the World Champion Giants played the Arizona Diamondbacks in the first game today. No results yet, probably because they play in Arizona, where news travels slowly.
Just four days ago, the world seemed to be about to end. Lybia was exploding and the oil we get from the Middle East was about to be cut off. Panic was rampant. Too bad it was all a lie and the big move in oil prices due more to speculation than the madness of kings and monarchs.
The US gets the vast majority of its oil from Canada, Mexico, Nigeria and Venezuela, though Saudi Arabia is third on the list. Lybia isn't even in the Top 15 and Algeria's contribution amounts to more of a rounding error than a vital statistic.
Like the manufactured gasoline shortages of the 70s, the recent oil scare was purely for the entertainment and profit of the privileged class of investors who rig the game and they did just fine, thank you, now having sold their shares at the top and repurchased at a better price, which, of course, they will pimp and pump to the half dozen retail investors remaining solvent until the next "disaster du jour."
Stocks remain overvalued since the few days of decline did little to deflate the current bubble. There's really no good reason to own any equities at all unless you have a vested stake in a certain company's fortunes or can derive a substantial dividend without any risk (impossible).
Gold and silver have sold off a bit as the week dragged on from panic to placidity, though they remain the best investments and nothing that happens between now and the end of time (2012?) will change that. In fact, one need not even tie up money in precious metals. Cash is still useful, as are some of the things it buys, like hard capital goods, machinery, tools, select art and rarities, for which there will always be a market.
In any case, Wall Street saw fit to end the week on a high note, though they didn't exactly make much of a dent in the big declines from Tuesday and Wednesday. Thank goodness it was a short week or it would have likely ended at new highs.
Dow 12,130.45, +61.95 (0.51%)
NASDAQ 2,781.05, +43.15 (1.58%)
S&P 500 1,319.88, +13.78 (1.06%)
NYSE Composite 8,378.04, +101.75 (1.23%)
Winners led losers by an outrageous margin, 5291-1272, confirming the belief that insiders executed a perfect pump-dump and buy on the unsuspecting, foolish public once again. That kind of disparity is usually reserved for days led by stunning positive news, though nowadays any good POMO from the Fed will suffice, apparently. Volume was once again in the sewer, as has been the norm. There is always higher relative volume on sell-offs than on purely positive sessions.
On the NASDAQ, there were 88 new highs and 22 new lows. There were 135 new highs and 12 new lows on the NYSE. Thank you Chairman Comrade Bernanke!
NASDAQ Volume 1,894,895,125
NYSE Volume 4,380,597,000
Crude oil gained 60 cents, to close at $97.88, but was up 9% for the week. Get ready to start pushing your car to work. Gold lost $6.50 in value, to $1,409.30, and silver was down 27 cents, though the recent run has put the price near or at 30-year-highs.
And just in case you don't actually believe the CPI measures inflation properly, here's one man's figures on how much prices are actually rising.
Ah, well, enjoy the weekend. Spring Training is well underway. In fact the World Champion Giants played the Arizona Diamondbacks in the first game today. No results yet, probably because they play in Arizona, where news travels slowly.
Label:
Bernanke
Largest Banks in Qatar
The top largest banks in Qatar are Qatar National Bank, Qatar Islamic Bank, Commercial Bank of Qatar, to name a few.
The Qatar National Bank (QNB) is the largest bank in the country. It was named the Best Asset Manager - Qatar, at the inaugural “Future of Capital Markets in the Middle East” Summit & Awards hosted in Dubai by Global Investor/Isf Magazine (2010). In addition, QNB was named “Best
The Qatar National Bank (QNB) is the largest bank in the country. It was named the Best Asset Manager - Qatar, at the inaugural “Future of Capital Markets in the Middle East” Summit & Awards hosted in Dubai by Global Investor/Isf Magazine (2010). In addition, QNB was named “Best
Amman Stock Exchange (ASE)
Amman Stock Exchange (ASE) is a stock exchange institution in Jordan. It was established in March 1999 as a non-profit, private institution with administrative and financial autonomy.
The exchange provides a strong and secure environment for its listed securities while protecting and guaranteeing the rights of its investors. To comply with international standards and best practices, ASE works
The exchange provides a strong and secure environment for its listed securities while protecting and guaranteeing the rights of its investors. To comply with international standards and best practices, ASE works
Thursday, February 24, 2011
Top Largest Banks in Europe
Following are some of the top leading and largest banks in Europe:
ABN AMRO Bank (By 2007 it was the second largest bank in the Netherlands and eighth largest banks in Europe by assets).
United Bank of Switzerland (It is one of the biggest banks in Europe, by market capitalization and profitability).
Dresdner Bank AG (It is one of Germany's largest banking corporations and one of the leading
ABN AMRO Bank (By 2007 it was the second largest bank in the Netherlands and eighth largest banks in Europe by assets).
United Bank of Switzerland (It is one of the biggest banks in Europe, by market capitalization and profitability).
Dresdner Bank AG (It is one of Germany's largest banking corporations and one of the leading
Turnaround Thursday? Well, Almost
The panic in the markets has subsided for now, even though conditions in the Middle East continue to spin out of control, especially in Libya.
Stocks zig-zagged across the flat line on Thursday, with oil pricing higher in early trade. Closing in on 2:00 pm ET, the equity markets were skidding badly again, but, as has become the norm, all of a sudden word spread that President Obama and Treasury Secretary Tim Geithner - neither of whom have a lick of expertise in the oil business - put out the word that there was enough supply of oil in reserve to withstand any kind of disruption, and, just like that, stocks and oil prices quickly reversed course, with oil dropping and stocks rising.
As an aside, gold and silver were slammed to the earth. Just prior to 2:00 pm, the Dow Jones Industrials were off more than 120 points, the NASDAQ dipped 17 points and the S&P 500 has crashed through the 1300 plateau, dropping more than 13 points.
Trading for the remainder of the session involved insiders scooping up shares on the "supposed" cheap. Still, three of the four major averages finished in the red despite the best efforts of the PPT or whatever we're calling the mechanics under the hood of the stock markets.
Dow 12,068.50, -37.28 (0.31%)
NASDAQ 2,737.90, +14.91 (0.55%)
S&P 500 1,306.10, -1.30 (0.10%)
NYSE Composite 8,276.29, -16.63 (0.20%)
Advancers broke a two-day trend and finished ahead of declining issues, 3630-2902. On the NASDAQ, new highs outdid new lows, though narrowly, 49-41. So too on the NYSE, where there were 83 new highs and just 18 new lows. Volume was nce again heightened, though below levels of the past two sessions.
We're clearly at an inflection point in the markets and considering that tensions in the oil-rich area of the world are still at high pitch, a resumption of a little panic may occur at any time, depending on circumstances and how hard the Fed and other officials pump the "all clear" signals. The Arab nations aren't the only ones experiencing a bit of displeasure. Here in the USA, protests continue to mount over budget and public union issues in various states. This chapter in world history is far from over.
NASDAQ Volume 2,112,375,750.00
NYSE Volume 5,799,687,500
The front end futures contract at the NYMEX - which was playing above 100/barrel prior to market opening, actually posted a decline on the day, dropping 82 cents, to $97.28. Gold posted a modest gain in NY trading, but at this writing is trading down $9.60, at $1402.10. Silver was hammered down all day long, down in the NY session and currently sporting a loss of $1.43, at $32.11. The machinery of chicanery is once again vigorously at work in all markets, propping them up with unlimited resources.
While many average working Joes and Janes may take solace in today's turnabout, it comes as yet another shining example of how the financial elite control everything they please, even entire global markets, or so they believe. The realities of life here in the US and elsewhere in the world are not quite as rosy as the oligarchs and politicians would have one believe. Little by little, freedoms are being eroded, and soon, as we're seeing with the assault on public labor unions, they'll take more money from the middle class, calling it "shared pain."
Many with a better handle on things than most are opting out, refusing to play along and suffer what's almost certain to be an eventful future. They are preparing, saving, planning and divesting, growing their own food and buying up precious metals and machinery for the day the wheels come completely off the train of money printing and manipulation.
Stocks zig-zagged across the flat line on Thursday, with oil pricing higher in early trade. Closing in on 2:00 pm ET, the equity markets were skidding badly again, but, as has become the norm, all of a sudden word spread that President Obama and Treasury Secretary Tim Geithner - neither of whom have a lick of expertise in the oil business - put out the word that there was enough supply of oil in reserve to withstand any kind of disruption, and, just like that, stocks and oil prices quickly reversed course, with oil dropping and stocks rising.
As an aside, gold and silver were slammed to the earth. Just prior to 2:00 pm, the Dow Jones Industrials were off more than 120 points, the NASDAQ dipped 17 points and the S&P 500 has crashed through the 1300 plateau, dropping more than 13 points.
Trading for the remainder of the session involved insiders scooping up shares on the "supposed" cheap. Still, three of the four major averages finished in the red despite the best efforts of the PPT or whatever we're calling the mechanics under the hood of the stock markets.
Dow 12,068.50, -37.28 (0.31%)
NASDAQ 2,737.90, +14.91 (0.55%)
S&P 500 1,306.10, -1.30 (0.10%)
NYSE Composite 8,276.29, -16.63 (0.20%)
Advancers broke a two-day trend and finished ahead of declining issues, 3630-2902. On the NASDAQ, new highs outdid new lows, though narrowly, 49-41. So too on the NYSE, where there were 83 new highs and just 18 new lows. Volume was nce again heightened, though below levels of the past two sessions.
We're clearly at an inflection point in the markets and considering that tensions in the oil-rich area of the world are still at high pitch, a resumption of a little panic may occur at any time, depending on circumstances and how hard the Fed and other officials pump the "all clear" signals. The Arab nations aren't the only ones experiencing a bit of displeasure. Here in the USA, protests continue to mount over budget and public union issues in various states. This chapter in world history is far from over.
NASDAQ Volume 2,112,375,750.00
NYSE Volume 5,799,687,500
The front end futures contract at the NYMEX - which was playing above 100/barrel prior to market opening, actually posted a decline on the day, dropping 82 cents, to $97.28. Gold posted a modest gain in NY trading, but at this writing is trading down $9.60, at $1402.10. Silver was hammered down all day long, down in the NY session and currently sporting a loss of $1.43, at $32.11. The machinery of chicanery is once again vigorously at work in all markets, propping them up with unlimited resources.
While many average working Joes and Janes may take solace in today's turnabout, it comes as yet another shining example of how the financial elite control everything they please, even entire global markets, or so they believe. The realities of life here in the US and elsewhere in the world are not quite as rosy as the oligarchs and politicians would have one believe. Little by little, freedoms are being eroded, and soon, as we're seeing with the assault on public labor unions, they'll take more money from the middle class, calling it "shared pain."
Many with a better handle on things than most are opting out, refusing to play along and suffer what's almost certain to be an eventful future. They are preparing, saving, planning and divesting, growing their own food and buying up precious metals and machinery for the day the wheels come completely off the train of money printing and manipulation.
Label:
oil,
President Obama,
Tim Geithner
Kazakhstan Stock Exchange (KASE)
The Kazakhstan Stock Exchange (KASE), located in Almaty, is the principal stock exchange in Kazakhstan. It was founded in 1993 as the Kazakh Interbank Currency Exchange. In 1995 the stock exchange received license №1 for conducting stock exchange activity at securities market, however acting of the license was limited with the right of organizing trades in government securities only.
The
The
Top Largest Banks in Peru
The top largest banks of Peru include Banco de Credito del Peru, MiBanco, Interbank, among others.
Banco de Credito del Peru is the largest bank in Peru, and is traded in the New York Stock Exchange and the Lima Stock Exchange (Bolsa de Valores de Lima).
MiBanco is the leading private commercial bank specializing in microfinance in Peru. It is one of the biggest banks in the country. From the
Banco de Credito del Peru is the largest bank in Peru, and is traded in the New York Stock Exchange and the Lima Stock Exchange (Bolsa de Valores de Lima).
MiBanco is the leading private commercial bank specializing in microfinance in Peru. It is one of the biggest banks in the country. From the
Wednesday, February 23, 2011
Top Largest Banks in Bulgaria
The top largest banks in Bulgaria include Postbank, DSK Bank, United Bulgarian Bank, UniCredit Bulbank, among others.
Postbank (legally named Eurobank EFG Bulgaria AD) is a top leading universal Bulgarian bank, offering a full range of banking services such as Mortgage loans, Mutual funds, Corporate credits, Investments and cash management, Foreign exchange transactions, Securities trading, and
Postbank (legally named Eurobank EFG Bulgaria AD) is a top leading universal Bulgarian bank, offering a full range of banking services such as Mortgage loans, Mutual funds, Corporate credits, Investments and cash management, Foreign exchange transactions, Securities trading, and
Oil Tops $100, Drifts Back; Stocks Hammered Again; Bank Runs in S. Korea
At some point, everyone knew this was going to happen. Stocks were so ridiculously overvalued - and have been for many months - that a pullback was inevitable.
The culprits, it appears, are Middle East sovereign despots, losing their grip on their populations which are largely demanding freedom and a democratic voice. But it goes much deeper. Many blame the Federal Reserve, which has fostered a dual policy of federal funds rates approaching zero while simultaneously printing dollars by the billions.
Those cheap dollars flood the markets, causing speculation and inflation, and that's been particularly acute in the poorest nations, where the percentage of income spent on basic survival - food, housing, clothing - is much higher, approaching 100% and often more. Hungry people being angry people, they've taken to the streets in countries where unemployment and government corruption have outpaced the economy, resulting in popular uprisings.
Add to that the declining value of the dollar, as expressed in the rising price of crude oil, and you have today's recipe for disaster. And all of this comes before the morons in congress and the White House and various state capitols attempt to come to some sort of meeting of the minds on their budgets.
The states have to find ways to balance theirs, while the federals fight over how much spending is enough to keep the government just barely functioning, if at all.
If it feels like the United States is running rudderless on fumes, you get the idea and the nervousness has been manifested in trading the past two days. Despite the usual pumping by the Fed, sellers are out in force and it doesn't take much to move stocks hard to the downside. Missing earnings estimates - normally a sin punishable by a few points off the top - has become a mortal wound, such as what happened to Hewlett Packard (HWP), following their quarterly report, released after the close on Tuesday.
Investors scurried out of the stock on Wednesday, propelling a nearly 10% decline. Vloume was five times normal.
Most of the rest of the market didn't fare much better. Holders of gold and silver are grinning ear-to-ear.
Dow 12,105.78, -107.01 (0.88%)
NASDAQ 2,722.99, -33.43 (1.21%)
S&P 500 1,307.40, -8.04 (0.61%)
NYSE Composite 8,292.92, -32.94 (0.40%)
Decliners led advancing issues again, 4470-2093. On the NASDAQ, the flip: there were 54 new lows and only 44 new highs. At the NYSE, 60 new highs and 27 new lows, though it seems the tide has turned, at least for the present. The question now becomes how long will this downturn last before the hoards of money from the Fed overwhelm all fears and make stocks and risk appear palatable again.
Volume, which hit its best levels of the year on Tuesday, topped that on Wednesday, giving a clue that the selling is only gaining momentum.
NASDAQ Volume 2,498,464,250
NYSE Volume 6,623,988,500
Crude oil - specifically WTI (West Texas Intermediate) on the NYMEX hit $100 in midday trading, but backed off to close up a mere $2.68, at $98.10, marking the highest price seen since 2008. Since the US gets most of its oil from Canada and other Western Hemisphere sources, WTI has fallen well behind the pace in Brent Crude, tied mostly to Europe and Asia. Brent prices topped $110. Spot is quoted at $111.83 per barrel.
Gold had another banner day, rising $12.90, to reach $1,414.00, closing in on all-time highs. Silver continues to be the stellar commodity performer, up another 44 cents, to $33.30. Specialists in gold's cousin say this is nothing and $50 per troy ounce is not only possible before the calendar turns over to 2012, but likely. There simply is not enough physical supply to meet growing investor demands, much of which is causing tightness in industrial applications.
If silver demand continues, look for rising prices in many electronic devices, especially cell phones, though the price rise should not be severe since only small amounts of silver go into the overall manufacturing price.
Turmoil and popular revolt in the Middle East and across many states in America over budget issues and union busting don't exactly set up well for smooth sailing on Wall Street. Until the noise quiets, expect fear to have its way with investor confidence. Nobody wants to catch the proverbial falling knife, and with short interest at record lows, a small tumble could easily turn into an overwhelming cascade.
Meanwhile, silver and gold investors are sitting pretty as the strain on fiat currency is being felt worldwide. What nobody wants to talk about in our civil society are the bank runs in South Korea.
Nothing funny about that story.
The culprits, it appears, are Middle East sovereign despots, losing their grip on their populations which are largely demanding freedom and a democratic voice. But it goes much deeper. Many blame the Federal Reserve, which has fostered a dual policy of federal funds rates approaching zero while simultaneously printing dollars by the billions.
Those cheap dollars flood the markets, causing speculation and inflation, and that's been particularly acute in the poorest nations, where the percentage of income spent on basic survival - food, housing, clothing - is much higher, approaching 100% and often more. Hungry people being angry people, they've taken to the streets in countries where unemployment and government corruption have outpaced the economy, resulting in popular uprisings.
Add to that the declining value of the dollar, as expressed in the rising price of crude oil, and you have today's recipe for disaster. And all of this comes before the morons in congress and the White House and various state capitols attempt to come to some sort of meeting of the minds on their budgets.
The states have to find ways to balance theirs, while the federals fight over how much spending is enough to keep the government just barely functioning, if at all.
If it feels like the United States is running rudderless on fumes, you get the idea and the nervousness has been manifested in trading the past two days. Despite the usual pumping by the Fed, sellers are out in force and it doesn't take much to move stocks hard to the downside. Missing earnings estimates - normally a sin punishable by a few points off the top - has become a mortal wound, such as what happened to Hewlett Packard (HWP), following their quarterly report, released after the close on Tuesday.
Investors scurried out of the stock on Wednesday, propelling a nearly 10% decline. Vloume was five times normal.
Most of the rest of the market didn't fare much better. Holders of gold and silver are grinning ear-to-ear.
Dow 12,105.78, -107.01 (0.88%)
NASDAQ 2,722.99, -33.43 (1.21%)
S&P 500 1,307.40, -8.04 (0.61%)
NYSE Composite 8,292.92, -32.94 (0.40%)
Decliners led advancing issues again, 4470-2093. On the NASDAQ, the flip: there were 54 new lows and only 44 new highs. At the NYSE, 60 new highs and 27 new lows, though it seems the tide has turned, at least for the present. The question now becomes how long will this downturn last before the hoards of money from the Fed overwhelm all fears and make stocks and risk appear palatable again.
Volume, which hit its best levels of the year on Tuesday, topped that on Wednesday, giving a clue that the selling is only gaining momentum.
NASDAQ Volume 2,498,464,250
NYSE Volume 6,623,988,500
Crude oil - specifically WTI (West Texas Intermediate) on the NYMEX hit $100 in midday trading, but backed off to close up a mere $2.68, at $98.10, marking the highest price seen since 2008. Since the US gets most of its oil from Canada and other Western Hemisphere sources, WTI has fallen well behind the pace in Brent Crude, tied mostly to Europe and Asia. Brent prices topped $110. Spot is quoted at $111.83 per barrel.
Gold had another banner day, rising $12.90, to reach $1,414.00, closing in on all-time highs. Silver continues to be the stellar commodity performer, up another 44 cents, to $33.30. Specialists in gold's cousin say this is nothing and $50 per troy ounce is not only possible before the calendar turns over to 2012, but likely. There simply is not enough physical supply to meet growing investor demands, much of which is causing tightness in industrial applications.
If silver demand continues, look for rising prices in many electronic devices, especially cell phones, though the price rise should not be severe since only small amounts of silver go into the overall manufacturing price.
Turmoil and popular revolt in the Middle East and across many states in America over budget issues and union busting don't exactly set up well for smooth sailing on Wall Street. Until the noise quiets, expect fear to have its way with investor confidence. Nobody wants to catch the proverbial falling knife, and with short interest at record lows, a small tumble could easily turn into an overwhelming cascade.
Meanwhile, silver and gold investors are sitting pretty as the strain on fiat currency is being felt worldwide. What nobody wants to talk about in our civil society are the bank runs in South Korea.
Nothing funny about that story.
Label:
bank run,
federal funds,
HPQ,
silver,
South Korea
Best Investment Banks in Singapore
DBS and Citi are amongst the most prestigious investment banks in Singapore.
DBS Bank Ltd in Singapore is the main subsidiary of DBS Group Holdings Ltd. The bank has been a key partner in spearheading and financing the growth of the nation’s small and medium-sized enterprises (SMEs). DBS provides a broad range of banking and related financial products and services for individuals, companies and
DBS Bank Ltd in Singapore is the main subsidiary of DBS Group Holdings Ltd. The bank has been a key partner in spearheading and financing the growth of the nation’s small and medium-sized enterprises (SMEs). DBS provides a broad range of banking and related financial products and services for individuals, companies and
US Stock Market Indices
Some of the major U.S. stock indices include NASDAQ Composite, Dow Jones Industrial Average, and S&P 500. Standard & Poor's (S&P) is well known for the stock market indexes, the US-based S&P 500, the Australian S&P/ASX 200, the Italian S&P/MIB, the Canadian S&P/TSX and India's S&P CNX Nifty.
List of US Stock Market Indices:
Value Line Composite Index
CPMKTE - The Capital Markets Equity Index
List of US Stock Market Indices:
Value Line Composite Index
CPMKTE - The Capital Markets Equity Index
Largest Banks in Zambia
The top largest banks in Zambia include Zanaco, Standard Chartered Bank Zambia, Barclays Zambia, Stanbic Bank, etc.
Zambia National Commercial Bank (Zanaco) is one of the largest banks in the country. It was established by the Government of the Republic of Zambia in 1969. Zanaco partnered with Rabo bank, a highly credible bank with a triple AAA rating (the highest rating) of the Netherlands in
Zambia National Commercial Bank (Zanaco) is one of the largest banks in the country. It was established by the Government of the Republic of Zambia in 1969. Zanaco partnered with Rabo bank, a highly credible bank with a triple AAA rating (the highest rating) of the Netherlands in
Tuesday, February 22, 2011
Best Investment Banks in Asia
Following are the top leading investment banks in Asia:
Morgan Stanley - It was named the Best Investment Bank in Asia for 2008 by Asiamoney magazine, a leading Asia finance magazine and part of the Euromoney group. Announcing its awards (which cover the Asia region, excluding Japan, Australia and New Zealand), the magazine also named Morgan Stanley as the Best M&A Arranger.
UBS - It was named
Morgan Stanley - It was named the Best Investment Bank in Asia for 2008 by Asiamoney magazine, a leading Asia finance magazine and part of the Euromoney group. Announcing its awards (which cover the Asia region, excluding Japan, Australia and New Zealand), the magazine also named Morgan Stanley as the Best M&A Arranger.
UBS - It was named
Now, That IS Going to Leave a Mark
Investors take note. You are screwed.
Savers and buyers of precious metals, arable land, tools and staples, rejoice! Today our frugality, honesty and disdain for speculation has reaped significant dividends.
On Wall Street, billions of dollars were flushed in a panicked selling frenzy that appears to be just beginning. One should note that other major declines began in the Winter months, specifically, the bursting of the dot-com bubble which reached its peak on March 10, 2000, when the NASDAQ topped out at 5132.52. Within months, the high-flying tech-laden index was off by more than 25%. Within a year, it had been halved.
While this current one-day selling spree may not auger as much ill (though it could be even worse), it was the largest one-day decline on the markets since August of 2010 and unless Mr. Gadaffi (God only knows how to spell his name) changes his mind about dying a martyr on Libyan soil (remember Mubarak said something similar just weeks ago), this malaise coming from Norther Africa and the Middle East is going to hang over equity markets and oil prices for the foreseeable future.
In addition to the popular uprisings in Libya and across the oil-rich nations of the Middle East - and much less reported - was the release of the S&P/Case-Shiller housing survey (full report [PDF] here), which showed home prices declining for a 4th straight month. Essentially, the housing crisis is not over, despite the artificial stimulus of a federal tax credit to the tune of $9000 for home buyers in various parts of 2009 and 2010.
Those buyers were duped into buying overpriced houses, lured by our federal government. There will be years of pain and more defaults to come, for certain. Las Vegas, Miami, Phoenix and Tampa all reached new lows in median prices. Other areas of the country were similarly down, with 18 of 20 major city areas posting declines. Released at 9:00 am, the report put a further chill into an already freezing futures market.
Stocks gaped down, with the Dow off 120 points minutes into the session, and it didn't get any better the remainder of the day.
Dow 12,212.79, -178.46 (1.44%)
NASDAQ 2,756.42, -77.53 (2.74%)
S&P 500 1,315.44, -27.57 (2.05%)
NYSE Composite 8,325.86, -182.04 (2.14%)
Declining issues slaughtered advancing issues, 5707-975, a ratio of nearly 6:1. The measure of new highs to new lows nearly reversed course, with 85 new highs on the NASDAQ, to 39 new lows. The Big Board remained skewed, with 139 new highs to just 14 new lows. Obviously, with such a paltry number of new lows, there is plenty of froth to be blown off this overheated, artificially-stimulated market. Volume was significantly higher than most recent up-day sessions, a notable development.
NASDAQ Volume 2,272,504,500
NYSE Volume 6,243,551,500
Commodities were raging. Crude oil futures on the NYMEX closed at $95.42, officially $5.41 higher, though it should be pointed out that Friday's close was just a shade over $86.
Gold finished at $1,401.10 and silver at $32.86, both having ramped up on Monday, when markets were closed, though trading volumes were very high.
The handwriting is quite clear. Investors are nervous over developments outside the US, and also inside, as the congress weighs passing a temporary, two-week continuing resolution, raising the debt ceiling only a little, and revisiting the issue again in a fortnight. This is the leadership we are offered, which can't get beyond partisan bickering to actually tackle the fundamental problems in the US economy.
Meanwhile, the stalemate continues in Wisconsin, with other states looking squarely at similar budgetary conditions and issues. 38 states have budget shortfalls which need to be addressed and the rhetoric surrounding the differences between public sector employees and those who pay their wages and benefits, the taxpayers.
If, like many, you've been aghast over the continual money-pumping by the Federal Reserve and the antecedent rise in stocks, you may want to pull up a chair and pay attention the next few weeks and months.
It's just starting to get interesting as the grand global Ponzi scheme by central bankers worldwide begins to unravel at a rapid pace.
Savers and buyers of precious metals, arable land, tools and staples, rejoice! Today our frugality, honesty and disdain for speculation has reaped significant dividends.
On Wall Street, billions of dollars were flushed in a panicked selling frenzy that appears to be just beginning. One should note that other major declines began in the Winter months, specifically, the bursting of the dot-com bubble which reached its peak on March 10, 2000, when the NASDAQ topped out at 5132.52. Within months, the high-flying tech-laden index was off by more than 25%. Within a year, it had been halved.
While this current one-day selling spree may not auger as much ill (though it could be even worse), it was the largest one-day decline on the markets since August of 2010 and unless Mr. Gadaffi (God only knows how to spell his name) changes his mind about dying a martyr on Libyan soil (remember Mubarak said something similar just weeks ago), this malaise coming from Norther Africa and the Middle East is going to hang over equity markets and oil prices for the foreseeable future.
In addition to the popular uprisings in Libya and across the oil-rich nations of the Middle East - and much less reported - was the release of the S&P/Case-Shiller housing survey (full report [PDF] here), which showed home prices declining for a 4th straight month. Essentially, the housing crisis is not over, despite the artificial stimulus of a federal tax credit to the tune of $9000 for home buyers in various parts of 2009 and 2010.
Those buyers were duped into buying overpriced houses, lured by our federal government. There will be years of pain and more defaults to come, for certain. Las Vegas, Miami, Phoenix and Tampa all reached new lows in median prices. Other areas of the country were similarly down, with 18 of 20 major city areas posting declines. Released at 9:00 am, the report put a further chill into an already freezing futures market.
Stocks gaped down, with the Dow off 120 points minutes into the session, and it didn't get any better the remainder of the day.
Dow 12,212.79, -178.46 (1.44%)
NASDAQ 2,756.42, -77.53 (2.74%)
S&P 500 1,315.44, -27.57 (2.05%)
NYSE Composite 8,325.86, -182.04 (2.14%)
Declining issues slaughtered advancing issues, 5707-975, a ratio of nearly 6:1. The measure of new highs to new lows nearly reversed course, with 85 new highs on the NASDAQ, to 39 new lows. The Big Board remained skewed, with 139 new highs to just 14 new lows. Obviously, with such a paltry number of new lows, there is plenty of froth to be blown off this overheated, artificially-stimulated market. Volume was significantly higher than most recent up-day sessions, a notable development.
NASDAQ Volume 2,272,504,500
NYSE Volume 6,243,551,500
Commodities were raging. Crude oil futures on the NYMEX closed at $95.42, officially $5.41 higher, though it should be pointed out that Friday's close was just a shade over $86.
Gold finished at $1,401.10 and silver at $32.86, both having ramped up on Monday, when markets were closed, though trading volumes were very high.
The handwriting is quite clear. Investors are nervous over developments outside the US, and also inside, as the congress weighs passing a temporary, two-week continuing resolution, raising the debt ceiling only a little, and revisiting the issue again in a fortnight. This is the leadership we are offered, which can't get beyond partisan bickering to actually tackle the fundamental problems in the US economy.
Meanwhile, the stalemate continues in Wisconsin, with other states looking squarely at similar budgetary conditions and issues. 38 states have budget shortfalls which need to be addressed and the rhetoric surrounding the differences between public sector employees and those who pay their wages and benefits, the taxpayers.
If, like many, you've been aghast over the continual money-pumping by the Federal Reserve and the antecedent rise in stocks, you may want to pull up a chair and pay attention the next few weeks and months.
It's just starting to get interesting as the grand global Ponzi scheme by central bankers worldwide begins to unravel at a rapid pace.
Label:
crude oil,
Libya,
Middle East,
silver
Irish Stock Exchange (ISE)
Irish Stock Exchange (ISE) is the principal stock exchange in Ireland, providing access to capital markets for investors, financial institutions and companies.
The ISE operates a choice of three markets: the Main Securities Market (MSM); the Enterprise Securities Market (ESM); and the Global Exchange Market (GEM).
ISE is a member of the World Federation of Exchanges and the Federation of
The ISE operates a choice of three markets: the Main Securities Market (MSM); the Enterprise Securities Market (ESM); and the Global Exchange Market (GEM).
ISE is a member of the World Federation of Exchanges and the Federation of
Top Largest Banks in Belgium
The top largest banks in Belgium include ING Belgium, KBC, AXA Bank Europe, Dexia, among others.
ING is Belgium’s first universal direct bank, providing all banking customers with a wide range of financial products and via the distribution channel of their choice. ING services all customer segments: mass retail and Private Banking customers, small and medium sized companies, instititutionals and
ING is Belgium’s first universal direct bank, providing all banking customers with a wide range of financial products and via the distribution channel of their choice. ING services all customer segments: mass retail and Private Banking customers, small and medium sized companies, instititutionals and
Monday, February 21, 2011
Pacific Stock Exchange Los Angeles
The Pacific Stock Exchange is one of the smaller regional stock exchanges with a main exchange floor and building in San Francisco, California and a branch in Los Angeles, California, United States. It was set up in 1882 as the San Francisco Stock and Bond Exchange. In 1957 the two exchanges, San Francisco and Los Angeles exchanges, merged to form the Pacific Coast Stock Exchange.
In 2001 the
In 2001 the
Best Investment Banks in Australia
Following are the most prestigious investment banks in Australia:
UBS - It is regularly awarded the Best Investment Bank in Australia, Leading Corporate Adviser in Australian M&A transactions and Best Australian Equity House by leading industry magazines such as FinanceAsia, Insto Magazine, Euromoney , CFO Magazine, IFR Asia Magazine and East Coles Survey. UBS Australian business provides
UBS - It is regularly awarded the Best Investment Bank in Australia, Leading Corporate Adviser in Australian M&A transactions and Best Australian Equity House by leading industry magazines such as FinanceAsia, Insto Magazine, Euromoney , CFO Magazine, IFR Asia Magazine and East Coles Survey. UBS Australian business provides
Unhappy President's Day?
Just because the markets in the US are closed, doesn't mean there's no economic news from the rest of the world, and there's plenty.
Due to violence in Lybia, where President Moammar Gadhafi - via a videotaped message by his son - vows to fight the insurrection against his 42 years of tyranny, "until the last man standing," oil prices have gone ballistic, with WTI (crude oil on the NYMEX) has shot through $90/barrel and is fast approaching $100.
Americans may awaken from their three-day weekend with sticker shock when they go to fill up their cars, vans and SUVs with petrol.
Elsewhere, precious metals have also taken notice that the global situation has become extremely unstable. Gold is pricing right now at $1,406.70, up a whopping $18.10 just today. But the real story is silver, which spiked on Friday, but is putting that move to shame taday with a nearly 5% move higher, to $33.88, up $1.58! That's quite a rocket ship, there and it's more than just short covering. US investors will likely send both gold and silver higher as congress takes a week off, just prior to the most important vote of the new congress: whether or not to raise the debt ceiling.
Analysts on top of the situation feel the government needs to act by March 4th in order to avert a federal government shutdown, which leaves the congress just five days - after they return from their vacation - to work out their differences, and there are many.
One option is to raise the ceiling gradually, enough to fund the government for another month, and revisit the issue again, and, if necessary, again and again. This could be the kind of circus we get from our "leaders" - an endless game of chicken and "gotcha" while the Republic burns.
Nero would be proud.
Make note to grab as much cash out of your bank account as possible within the next two weeks. There could be fireworks dead ahead, and I'm not talking about the 4th of July variety. If the government does shut down, there could be a bank holiday right on its heels, and even without a work stoppage in Washington, the number of bank failures in the US is already up to 22 and we're not even through February yet. Four more went down on Friday; two in California and two more in Georgia, the bank failure capitol.
There were 157 bank failures nationwide in 2010, 140 in 2009 and 25 in 2008. Smaller banks have suffered the most, but the biggest - the ones bailed out by the US taxpayer - are still not immune.
Due to violence in Lybia, where President Moammar Gadhafi - via a videotaped message by his son - vows to fight the insurrection against his 42 years of tyranny, "until the last man standing," oil prices have gone ballistic, with WTI (crude oil on the NYMEX) has shot through $90/barrel and is fast approaching $100.
Americans may awaken from their three-day weekend with sticker shock when they go to fill up their cars, vans and SUVs with petrol.
Elsewhere, precious metals have also taken notice that the global situation has become extremely unstable. Gold is pricing right now at $1,406.70, up a whopping $18.10 just today. But the real story is silver, which spiked on Friday, but is putting that move to shame taday with a nearly 5% move higher, to $33.88, up $1.58! That's quite a rocket ship, there and it's more than just short covering. US investors will likely send both gold and silver higher as congress takes a week off, just prior to the most important vote of the new congress: whether or not to raise the debt ceiling.
Analysts on top of the situation feel the government needs to act by March 4th in order to avert a federal government shutdown, which leaves the congress just five days - after they return from their vacation - to work out their differences, and there are many.
One option is to raise the ceiling gradually, enough to fund the government for another month, and revisit the issue again, and, if necessary, again and again. This could be the kind of circus we get from our "leaders" - an endless game of chicken and "gotcha" while the Republic burns.
Nero would be proud.
Make note to grab as much cash out of your bank account as possible within the next two weeks. There could be fireworks dead ahead, and I'm not talking about the 4th of July variety. If the government does shut down, there could be a bank holiday right on its heels, and even without a work stoppage in Washington, the number of bank failures in the US is already up to 22 and we're not even through February yet. Four more went down on Friday; two in California and two more in Georgia, the bank failure capitol.
There were 157 bank failures nationwide in 2010, 140 in 2009 and 25 in 2008. Smaller banks have suffered the most, but the biggest - the ones bailed out by the US taxpayer - are still not immune.
Label:
bank failures,
crude oil,
gold,
silver
South Pacific Stock Exchange (Fiji)
The South Pacific Stock Exchange (SPSE) is the only licensed securities exchange in the Fiji Islands. It was formerly known as the Suva Stock Exchange. The Exchange is the centre for trading, reporting and pricing of the stocks.
The following securities are currently traded on the SPSE: Listed company shares; Government bonds; Statutory authority promissory notes; Statutory authority bonds;
The following securities are currently traded on the SPSE: Listed company shares; Government bonds; Statutory authority promissory notes; Statutory authority bonds;
Best Investment Banks in India
Following are the top leading investment banks in India:
Kotak Investment Banking - It is a subsidiary of Kotak Mahindra Bank Limited, one of India’s leading banking and financial services organizations. Kotak Investment Banking has formed a dedicated Infrastructure Group to offer investment banking solutions to public and private corporates across sectors like Power (Generation & Associated
Kotak Investment Banking - It is a subsidiary of Kotak Mahindra Bank Limited, one of India’s leading banking and financial services organizations. Kotak Investment Banking has formed a dedicated Infrastructure Group to offer investment banking solutions to public and private corporates across sectors like Power (Generation & Associated
Sunday, February 20, 2011
Philippine Dealing & Exchange Corp. (PDEx)
The Philippine Dealing & Exchange Corp. (PDEx) is one of the major exchanges in the Philippines, licensed by the Securities and Exchange Commission (SEC) as an Exchange under the provisions of the Securities Regulation Code (SRC).
PDEx began trading operations in government securities in March 2005, with a Negotiated Dealing System for the Inter-Dealer Market. An Auto-Matching System was also
PDEx began trading operations in government securities in March 2005, with a Negotiated Dealing System for the Inter-Dealer Market. An Auto-Matching System was also
Ranking of Banks
View below for more information:
Top 1000 World Banks Ranking
JP Morgan Chase & Co dropped a place to 2nd globally, while BNP Paribas made a big jump from 14th to 8th in 2010...
Top 50 Safest Banks in the World
KfW is rated the safest in the world, with second place went to France's Caisse des Depots et Consignations (CDC) and 3rd place awarded to Bank Nederlandse Gemeenten (BNG) of the
Top 1000 World Banks Ranking
JP Morgan Chase & Co dropped a place to 2nd globally, while BNP Paribas made a big jump from 14th to 8th in 2010...
Top 50 Safest Banks in the World
KfW is rated the safest in the world, with second place went to France's Caisse des Depots et Consignations (CDC) and 3rd place awarded to Bank Nederlandse Gemeenten (BNG) of the
Bahamas International Securities Exchange
The Bahamas International Securities Exchange (BISX) is the major securities exchange in the Bahamas. It is formally registered with the Securities Commission of The Bahamas as a “Securities Exchange” pursuant to the Securities Industry Act, 1999.
BISX was incorporated as a private company and owned by dedicated shareholders consisting of stockbrokers, investment companies, banks, corporations,
BISX was incorporated as a private company and owned by dedicated shareholders consisting of stockbrokers, investment companies, banks, corporations,
Top Largest Banks in Norway
The top largest banks of Norway include Spare Bank 1 Nord-Norge, Postbanken, SpareBank 1 SR-Bank, BN Bank ASA, Fokus Bank, among others.
Spare Bank 1 Nord-Norge is one of the largest banks in Norway and is an independent financial services group within the SpareBank1 Alliance. The Bank's business concept is to supply complete and modern financial solutions for the benefit of customers based in
Spare Bank 1 Nord-Norge is one of the largest banks in Norway and is an independent financial services group within the SpareBank1 Alliance. The Bank's business concept is to supply complete and modern financial solutions for the benefit of customers based in
Saturday, February 19, 2011
Top 1000 World Banks Ranking
The Banker Magazine has published the rankings of Top 1000 World Banks for 2010, which are based on the definition of Tier 1 capital as set out by Basel’s Bank for International Settlements (BIS).
Bank of America Corporation topped the list of 1000 banks in the world, moving up a place from 2nd in 2009 to 1st in 2010, while JP Morgan Chase & Co dropped a place to 2nd globally. BNP Paribas made a
Bank of America Corporation topped the list of 1000 banks in the world, moving up a place from 2nd in 2009 to 1st in 2010, while JP Morgan Chase & Co dropped a place to 2nd globally. BNP Paribas made a
Stock Exchanges in China
Following are the principal Stock Exchanges in mainland China:
Shanghai Stock Exchange (SSE)
- It is the world's sixth largest stock market by market capitalization at US$2.4 trillion as of August 2010.
- It is a membership institution directly governed by the China Securities Regulatory Commission (CSRC).
- SSE is the most preeminent stock market in Mainland China in terms of number of listed
Shanghai Stock Exchange (SSE)
- It is the world's sixth largest stock market by market capitalization at US$2.4 trillion as of August 2010.
- It is a membership institution directly governed by the China Securities Regulatory Commission (CSRC).
- SSE is the most preeminent stock market in Mainland China in terms of number of listed
Top Largest Banks in Bahrain
The top largest banks of Bahrain are Awal Bank, Arab Banking Corporation, Ahli United Bank, among others.
Awal Bank is one of the largest banks in Bahrain, offering a comprehensive range of banking services to the Gulf and MENA region. It was registered in the Kingdom of Bahrain in 2004 under license as a wholesale bank from the Central Bank of Bahrain. By the end of 2007, the Bank has total
Awal Bank is one of the largest banks in Bahrain, offering a comprehensive range of banking services to the Gulf and MENA region. It was registered in the Kingdom of Bahrain in 2004 under license as a wholesale bank from the Central Bank of Bahrain. By the end of 2007, the Bank has total
Largest Financial Centres
London is the world's largest financial centre as of 2010, according to the Global Financial Centres Index, alongside New York City (2nd), Hong Kong (3rd), Singapore (4th) and Tokyo (5th).
London is the capital of England and is the most visited city in the world. It is home to the headquarters of more than 100 of Europe's 500 largest companies. Some of the largest banking and financial services
London is the capital of England and is the most visited city in the world. It is home to the headquarters of more than 100 of Europe's 500 largest companies. Some of the largest banking and financial services
Friday, February 18, 2011
Top Largest Banks in Romania
The top largest banks of Romania are Banca Comerciala Romana, Alpha Bank, BRD, Credit Europe Bank Romania, among others.
Banca Comerciala Romana (BCR; Romanian Commercial Bank) is the largest bank in Romania. The bank continues to develop its relationship with foreign correspondent banks as well as with international financial institutions, rating agencies and export credit agencies (ECA). It
Banca Comerciala Romana (BCR; Romanian Commercial Bank) is the largest bank in Romania. The bank continues to develop its relationship with foreign correspondent banks as well as with international financial institutions, rating agencies and export credit agencies (ECA). It
Silver, 10-Year Note Are New Safety Plays
Let's dispense with the general recap right away:
The first thing that jumps out is how absurdly out of step the major indices are, with the Dow plowing ahead by nearly 6/10 of 1% and the other indices flat. This is as it has been for many months. There are extreme inequities in equities, to coin a phrase and it is a certain sign of manipulation and flights of both fancy and safety.
Dow 12,391.25, +73.11 (0.59%)
NASDAQ 2,833.95, +2.37 (0.08%)
S&P 500 1,343.01, +2.58 (0.19%)
NYSE Composite 8,507.90, +10.49 (0.12%)
Advancers finished ahead of decliners, 3600-2902. On the NASDAQ there were 248 new highs, 14 new lows. On the NYSE, new highs led new lows, 350-8. Volume was well short of being exciting.
NASDAQ Volume 2,123,685,000
NYSE Volume 4,421,542,500
As the Middle East becomes ever more the hotbed of revolution, with uprisings in nearly every country across North Africa and the Persian Gulf, investors are seeking safety and finding a comfortable place to park their money in commodities in general, but silver in particular.
Silver rocketed again today in price as buyers piled in prior to the three-day weekend, pushing the price up to $32.30, a gain of 73 cents, and even higher after the close in New York. By the time markets open in the US on Tuesday, silver could be selling for $35/ounce, so powerful is the short-covering move and subsequent break-out. Gold is closing in on all-time highs again, gaining $3.50 today, to finish at $1,388.60 in NY. Oddly enough, oil futures were down on the day, losing 16 cents, to $86.20, seemingly wanting to settle somewhere between $80 and $85 per barrel, a price with which most - both suppliers and buyers - can live.
The other area receiving an inordinate amount of attention, as Chairman Bernanke nukes the dollar, is the 10-year note, which continued to rally today, pushing yields down to 3.58% at the close. The price of the 10-year is still 100 basis points higher than it was during the summer, thanks to the inflationary effect of the Fed's ZIRP and QE2. Still, money has to go somewhere and the smart money is peeling out of overpriced stocks and into the relative safety of bonds.
For our money, silver still looks like the very best raw investment, bar none. One should be looking for deals on autos and machinery these days, before inflation gets out of control.
A three-day weekend means not having to listen to the talking heads on CNBC for an entire 72 hours. Bliss!
The first thing that jumps out is how absurdly out of step the major indices are, with the Dow plowing ahead by nearly 6/10 of 1% and the other indices flat. This is as it has been for many months. There are extreme inequities in equities, to coin a phrase and it is a certain sign of manipulation and flights of both fancy and safety.
Dow 12,391.25, +73.11 (0.59%)
NASDAQ 2,833.95, +2.37 (0.08%)
S&P 500 1,343.01, +2.58 (0.19%)
NYSE Composite 8,507.90, +10.49 (0.12%)
Advancers finished ahead of decliners, 3600-2902. On the NASDAQ there were 248 new highs, 14 new lows. On the NYSE, new highs led new lows, 350-8. Volume was well short of being exciting.
NASDAQ Volume 2,123,685,000
NYSE Volume 4,421,542,500
As the Middle East becomes ever more the hotbed of revolution, with uprisings in nearly every country across North Africa and the Persian Gulf, investors are seeking safety and finding a comfortable place to park their money in commodities in general, but silver in particular.
Silver rocketed again today in price as buyers piled in prior to the three-day weekend, pushing the price up to $32.30, a gain of 73 cents, and even higher after the close in New York. By the time markets open in the US on Tuesday, silver could be selling for $35/ounce, so powerful is the short-covering move and subsequent break-out. Gold is closing in on all-time highs again, gaining $3.50 today, to finish at $1,388.60 in NY. Oddly enough, oil futures were down on the day, losing 16 cents, to $86.20, seemingly wanting to settle somewhere between $80 and $85 per barrel, a price with which most - both suppliers and buyers - can live.
The other area receiving an inordinate amount of attention, as Chairman Bernanke nukes the dollar, is the 10-year note, which continued to rally today, pushing yields down to 3.58% at the close. The price of the 10-year is still 100 basis points higher than it was during the summer, thanks to the inflationary effect of the Fed's ZIRP and QE2. Still, money has to go somewhere and the smart money is peeling out of overpriced stocks and into the relative safety of bonds.
For our money, silver still looks like the very best raw investment, bar none. One should be looking for deals on autos and machinery these days, before inflation gets out of control.
A three-day weekend means not having to listen to the talking heads on CNBC for an entire 72 hours. Bliss!
Label:
10-year note,
Bernanke,
silver
Trinidad and Tobago Stock Exchange
The Trinidad and Tobago Stock Exchange (TTSE) is the principal stock exchange in the Republic of Trinidad and Tobago. It was formally opened on 26 October 1981 with 37 listed securities, becoming the second Exchange in the CARICOM region after Jamaica.
The TTSE is owned equally by the listed companies of the Exchange and the member firms. A company listed on the TTSE can raise capital via an
The TTSE is owned equally by the listed companies of the Exchange and the member firms. A company listed on the TTSE can raise capital via an
Top Largest Banks in Zimbabwe
The top leading banks in Zimbabwe include Barclays Bank of Zimbabwe, Standard Chartered Bank Zimbabwe, CBZ Bank Limited, among others.
Barclays Bank of Zimbabwe Ltd is one of the largest and leading banks in Zimbabwe and is listed on the Zimbabwe Stock Exchange. The bank has a major commercial banking network throughout the country with branches in all large commercial centres. It also has the
Barclays Bank of Zimbabwe Ltd is one of the largest and leading banks in Zimbabwe and is listed on the Zimbabwe Stock Exchange. The bank has a major commercial banking network throughout the country with branches in all large commercial centres. It also has the
Largest Private Equity Firms
The Carlyle Group was ranked as the largest private equity firm in the world in 2007, according to a ranking called the PEI 50 based on capital under management. Carlyle focuses on sectors in which it has demonstrated expertise: aerospace & defense, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology &
Thursday, February 17, 2011
Top Largest Banks in Cyprus
The top largest banks in Cyprus are Bank of Cyprus, Marfin Popular Bank, Alpha Bank Cyprus, among others.
Bank of Cyprus Public Company Ltd was established in 1899 and is the holding company of the Bank of Cyprus Group, which offers a broad range of financial products and services including banking services, leasing, factoring, brokerage, investment banking, fund management, general and life
Bank of Cyprus Public Company Ltd was established in 1899 and is the holding company of the Bank of Cyprus Group, which offers a broad range of financial products and services including banking services, leasing, factoring, brokerage, investment banking, fund management, general and life
Botswana Stock Exchange
The Botswana Stock Exchange (BSE) is Botswana’s national stock exchange, located in Gaborone. It is one of Africa’s best performing stock exchanges.
BSE products include: Equities (Found in the Domestic, Foreign and Venture Boards), Corporate Bond, Government bonds, Commercial Paper. Commercial Paper is short term fixed instrument that pays a variable coupon for a specific period of time. These
BSE products include: Equities (Found in the Domestic, Foreign and Venture Boards), Corporate Bond, Government bonds, Commercial Paper. Commercial Paper is short term fixed instrument that pays a variable coupon for a specific period of time. These
Stocks Up; Silver at 30-Year High
All attempts to slander, deride or talk down the precious metals as the ultimate store of value have failed. Trillions of Benji Bucks, delivered to market participants by the Federal Reserve and sparking an equity and commodity boom the likes of which the world has never seen has finally defeated the forces holding down the value of gold and silver.
In what can only be characterized as a massive short squeeze, silver spiked to fresh 30-year highs, while gold surge to a one-month high. There is little to hold them back now save the massive short silver positions held by JP Morgan Chase, and they are being buried under frenzied buying.
Uprisings in Middle Eastern countries from Bahrain to Syria to Lybia to Algeria to Saudi Arabia, in the aftermath of the Egyptian triumph over tyranny, have been set off by upward global food price price pressure, the lack of stable employment and corruption in government. If those themes sound familiar to people in the more "developed" world such as the USA and Europe, it is because we are beset on all sides by corruption and inflation, a deadly combination for anyone who seeks to hold positions of political power.
Thus, the Federal Reserve has sparked rebellions overseas and maybe tipped the flobal community past the point of no return. Only the dole in England, food stamps in America and deeply-ingrained socialism in most of the EU has kept the people of these countries from "going Egyptian" on their political masters.
The Westernized nations certainly have a great deal to gripe about, though the impact of the Fed's policies of zero interest rate and quantitative easing are being felt first in the rest of the world. They will no doubt be visiting the shores of Europe and the United States at some as yet determined date. Runaway inflation, high unemployment, dissatisfaction with government policies and widespread fraud should result in tumult of the highest order just in time for the presidential elections in 2012, should the nation still be intact by then.
But, I digress. The most important signpost of the day was the spike in silver, without a doubt. It was, in warrior terminology, a shot across the bows of the ships of states printing fiat money, backed, laughably, by "good faith and cradit" of the issuer. In the case of the United States, unbeknownst to the rulers-at-large, all faith has been shattered and our national credit card has been tapped out. We loan mostly to ourselves, from ourselves, by ourselves, in a Ponzi scheme so deliciously evil that it would make Bernie Madoff look like a boy scout.
Dow 12,318.14, +29.97 (0.24%)
NASDAQ 2,831.58, +6.02 (0.21%)
S&P 500 1,340.43, +4.11 (0.31%)
NYSE Composite 8,497.41, +43.65 (0.52%)
Advancing issues beat decliners, 4118-2402. NASDAQ recorded 212 new highs and 22 new lows. On the NYSE, new highs topped new lows, 361-9, a number so ridiculously out of balance that only Ben Bernanke could love it. There is no downside risk to owning stocks and until there is, one should load up with tight stops on the underside. Volume was back into the abyss of the past two years.
NASDAQ Volume 1,952,032,375
NYSE Volume 4,178,143,000
Oil was up another $1.37, to $86.36 on conflicting reports that Iran was about to send warships through the Suez Canal. Israel is worried and called the act "provocative," while countries all around it are undergoing spasms of freedom and expressions of liberty. The smart money has already left Zion. A couple of Palestinaians were shot and killed by Israeli soldiers on the border of the Gaza strip.
Gold gained $10.00, to $1,385.10, and silver was up more than 2% at the close in New York, higher by 94 cents, to $31.57. Silver, said to be rarer than gold by some accounts, has jumped $5 dollars US in just over a month. Today's final push to new highs marks the beginning of a second phase in the bull rally that has slowly limped behind gold, but has recently outstripped nearly every other asset class, gaining 87% in 2010 alone.
Estimates for how high silver can go and in what time frame range from the reasoned to the impossible, though in today's upside-down economic world, the impossible - such as the S&P 500 doubling in just the past two years - is now possible. A reasonable guess is that silver will reach $50 by the end of the year, which would be "only" a 67% gain in an asset that has no counterparty risk if one holds physical metal and is deeply undervalued by almost every metric.
Now that buying stocks is a risk-less play, expect some surprises in the next downturn, such as it coming out of nowhere, for no particular reason and to be deep and quick. The sheep will surely get sheared once again as gold bugs and silver sleuths sit back and gloat.
Yes, and real estate in selected markets is cheap, but will be cheaper later this year, even cheaper in 2012 and practically fire-sale prices in 2013. Save your silver. In three years time, you'll be able to buy a reasonable three-bedroom home in a decent community for about 200 ounces of silver. I would not kid you about that. Of course, you may not be able to afford the property taxes, especially if the house is in New York, New Jersey, Massachusetts or California.
And, BTW, the banks are dead. They just won't admit it.
In what can only be characterized as a massive short squeeze, silver spiked to fresh 30-year highs, while gold surge to a one-month high. There is little to hold them back now save the massive short silver positions held by JP Morgan Chase, and they are being buried under frenzied buying.
Uprisings in Middle Eastern countries from Bahrain to Syria to Lybia to Algeria to Saudi Arabia, in the aftermath of the Egyptian triumph over tyranny, have been set off by upward global food price price pressure, the lack of stable employment and corruption in government. If those themes sound familiar to people in the more "developed" world such as the USA and Europe, it is because we are beset on all sides by corruption and inflation, a deadly combination for anyone who seeks to hold positions of political power.
Thus, the Federal Reserve has sparked rebellions overseas and maybe tipped the flobal community past the point of no return. Only the dole in England, food stamps in America and deeply-ingrained socialism in most of the EU has kept the people of these countries from "going Egyptian" on their political masters.
The Westernized nations certainly have a great deal to gripe about, though the impact of the Fed's policies of zero interest rate and quantitative easing are being felt first in the rest of the world. They will no doubt be visiting the shores of Europe and the United States at some as yet determined date. Runaway inflation, high unemployment, dissatisfaction with government policies and widespread fraud should result in tumult of the highest order just in time for the presidential elections in 2012, should the nation still be intact by then.
But, I digress. The most important signpost of the day was the spike in silver, without a doubt. It was, in warrior terminology, a shot across the bows of the ships of states printing fiat money, backed, laughably, by "good faith and cradit" of the issuer. In the case of the United States, unbeknownst to the rulers-at-large, all faith has been shattered and our national credit card has been tapped out. We loan mostly to ourselves, from ourselves, by ourselves, in a Ponzi scheme so deliciously evil that it would make Bernie Madoff look like a boy scout.
Dow 12,318.14, +29.97 (0.24%)
NASDAQ 2,831.58, +6.02 (0.21%)
S&P 500 1,340.43, +4.11 (0.31%)
NYSE Composite 8,497.41, +43.65 (0.52%)
Advancing issues beat decliners, 4118-2402. NASDAQ recorded 212 new highs and 22 new lows. On the NYSE, new highs topped new lows, 361-9, a number so ridiculously out of balance that only Ben Bernanke could love it. There is no downside risk to owning stocks and until there is, one should load up with tight stops on the underside. Volume was back into the abyss of the past two years.
NASDAQ Volume 1,952,032,375
NYSE Volume 4,178,143,000
Oil was up another $1.37, to $86.36 on conflicting reports that Iran was about to send warships through the Suez Canal. Israel is worried and called the act "provocative," while countries all around it are undergoing spasms of freedom and expressions of liberty. The smart money has already left Zion. A couple of Palestinaians were shot and killed by Israeli soldiers on the border of the Gaza strip.
Gold gained $10.00, to $1,385.10, and silver was up more than 2% at the close in New York, higher by 94 cents, to $31.57. Silver, said to be rarer than gold by some accounts, has jumped $5 dollars US in just over a month. Today's final push to new highs marks the beginning of a second phase in the bull rally that has slowly limped behind gold, but has recently outstripped nearly every other asset class, gaining 87% in 2010 alone.
Estimates for how high silver can go and in what time frame range from the reasoned to the impossible, though in today's upside-down economic world, the impossible - such as the S&P 500 doubling in just the past two years - is now possible. A reasonable guess is that silver will reach $50 by the end of the year, which would be "only" a 67% gain in an asset that has no counterparty risk if one holds physical metal and is deeply undervalued by almost every metric.
Now that buying stocks is a risk-less play, expect some surprises in the next downturn, such as it coming out of nowhere, for no particular reason and to be deep and quick. The sheep will surely get sheared once again as gold bugs and silver sleuths sit back and gloat.
Yes, and real estate in selected markets is cheap, but will be cheaper later this year, even cheaper in 2012 and practically fire-sale prices in 2013. Save your silver. In three years time, you'll be able to buy a reasonable three-bedroom home in a decent community for about 200 ounces of silver. I would not kid you about that. Of course, you may not be able to afford the property taxes, especially if the house is in New York, New Jersey, Massachusetts or California.
And, BTW, the banks are dead. They just won't admit it.
Label:
Ben Bernanke,
Fed,
quantitative easing,
silver
Largest Banks in the USA & Canada
The top largest banks in the USA and Canada include Bank of America Corporation, JP Morgan Chase, RBC, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, among others.
Bank of America is one of the world's largest financial institutions and the largest bank in North America (Ranked 1st in The Banker Magazine Top 1000 World Banks ranking 2010). In addition, it is ranked No. 1 among all
Bank of America is one of the world's largest financial institutions and the largest bank in North America (Ranked 1st in The Banker Magazine Top 1000 World Banks ranking 2010). In addition, it is ranked No. 1 among all
Stock Brokers in Dubai
Following are the leading stock brokers in Dubai:
Efg-Hermes
- Founded in 1984, it is the leading investment bank in the Middle East and is recognized as the regions market leader in securities brokerage, asset management, investment banking, private equity, and research.
- The firm is listed on the Egyptian and London Stock exchanges and as at June 2008 had a market capitalization of over USD
Efg-Hermes
- Founded in 1984, it is the leading investment bank in the Middle East and is recognized as the regions market leader in securities brokerage, asset management, investment banking, private equity, and research.
- The firm is listed on the Egyptian and London Stock exchanges and as at June 2008 had a market capitalization of over USD
Wednesday, February 16, 2011
Largest Banks in Kuwait
The top largest banks of Kuwait are National Bank of Kuwait, Gulf Bank, Kuwait Finance House, to name a few.
National Bank of Kuwait (NBK) is the largest bank in Kuwait and one of the top leading banks in the Middle East. NBK also boasts the largest overseas branch network spanning many of the world financial and business centers. It was named the Best Bank in Kuwait (2002 - 2010) by Euromoney.
National Bank of Kuwait (NBK) is the largest bank in Kuwait and one of the top leading banks in the Middle East. NBK also boasts the largest overseas branch network spanning many of the world financial and business centers. It was named the Best Bank in Kuwait (2002 - 2010) by Euromoney.
Tuesday Was an Aberration; Move Along, Now
Didn't I tell you all yesterday that stocks would be back up today. Tuesday was a one-off. Wall Street has to do it every now and then to convince the sheep, er, peep, er, sheeple, like you, that it's all on the up and up.
It's not. It's fed by the Fed. Buy silver. I have little more to say, but, in a nutshell, we're back to feudalism, and the banksters and politicians are the lords and you, me and anyone with either a job or a subsidized existence (it's becoming more lucrative to filch, in fact) are the serfs.
Fuck 'em. And prepare for Amrageddon.
Dow 12,288.17, +61.53 (0.50%)
NASDAQ 2,825.56, +21.21 (0.76%)
S&P 500 1,336.32, +8.31 (0.63%)
NYSE Composite 8,453.76, +70.09 (0.84%)
Advancing issues stomped all over decliners, 4678-1882. NASDAQ new highs: 202; new lows: 32. NYSE new highs: 335; new lows: 13. Volume was solid, for a change. There must be a ramp-up coming. Everybody's all in. Oh, that's right. Options expiration Friday. How could I have missed that? It's where all the money is being made.
NASDAQ Volume 2,289,703,250.00
NYSE Volume 4,453,836,500
Crude oil got a bit of a boost by Iranian warships entering the Suez Canal en route to Syria, up 67 cents to nestle in at $84.99. Gold gained $1.00, to $1,375.10 and silver was down 7 cents, to $30.63. Nothing to see there. Move along.
Tomorrow, the BLS offers the latest in a series of comedy sketches otherwise known as unemployment claims prior to the opening bell, which, in case you haven't noticed, is not a bell at all, but the same sound used in casinos world-wide when a one-armed bandit pays off, even more proof that Wall Street really is one giant casino.
It's not. It's fed by the Fed. Buy silver. I have little more to say, but, in a nutshell, we're back to feudalism, and the banksters and politicians are the lords and you, me and anyone with either a job or a subsidized existence (it's becoming more lucrative to filch, in fact) are the serfs.
Fuck 'em. And prepare for Amrageddon.
Dow 12,288.17, +61.53 (0.50%)
NASDAQ 2,825.56, +21.21 (0.76%)
S&P 500 1,336.32, +8.31 (0.63%)
NYSE Composite 8,453.76, +70.09 (0.84%)
Advancing issues stomped all over decliners, 4678-1882. NASDAQ new highs: 202; new lows: 32. NYSE new highs: 335; new lows: 13. Volume was solid, for a change. There must be a ramp-up coming. Everybody's all in. Oh, that's right. Options expiration Friday. How could I have missed that? It's where all the money is being made.
NASDAQ Volume 2,289,703,250.00
NYSE Volume 4,453,836,500
Crude oil got a bit of a boost by Iranian warships entering the Suez Canal en route to Syria, up 67 cents to nestle in at $84.99. Gold gained $1.00, to $1,375.10 and silver was down 7 cents, to $30.63. Nothing to see there. Move along.
Tomorrow, the BLS offers the latest in a series of comedy sketches otherwise known as unemployment claims prior to the opening bell, which, in case you haven't noticed, is not a bell at all, but the same sound used in casinos world-wide when a one-armed bandit pays off, even more proof that Wall Street really is one giant casino.
Label:
nothing
Largest Stock Brokers Firms
The top largest stock brokers firms/companies around the world include Redmayne-Bentley, Dolmen Stockbrokers, Kotak Securities Ltd., among others.
Founded in 1875, Redmayne-Bentley is one of the largest independent stockbrokers in the UK. The Firm is a member of the London Stock Exchange and the Association of Private Client Investment Managers and Stockbrokers and it is authorised and regulated
Founded in 1875, Redmayne-Bentley is one of the largest independent stockbrokers in the UK. The Firm is a member of the London Stock Exchange and the Association of Private Client Investment Managers and Stockbrokers and it is authorised and regulated
Top Largest Banks in Panama
Panama is the second largest financial center in the world. Some of the top largest banks in the country include HSBC Bank (Panama), Banco General, Bladex, among others.
HSBC Bank (Panama) is part of one of the largest banking and financial services organizations in the world. In November 2006, HSBC acquired Grupo Banistmo, the leading banking group in Central America. The acquisition of
HSBC Bank (Panama) is part of one of the largest banking and financial services organizations in the world. In November 2006, HSBC acquired Grupo Banistmo, the leading banking group in Central America. The acquisition of
Top Finance Companies in India
Following are some of the top finance companies in India:
Bajaj Capital Limited - The Bajaj Capital Group is one of the top Investment Advisory and Financial Planning companies in India. It is one of India’s largest distributors of financial products, offering a wide range of investment products such as mutual funds, life and general insurance, bonds, and more.
SBI Capital Markets Limited - It
Bajaj Capital Limited - The Bajaj Capital Group is one of the top Investment Advisory and Financial Planning companies in India. It is one of India’s largest distributors of financial products, offering a wide range of investment products such as mutual funds, life and general insurance, bonds, and more.
SBI Capital Markets Limited - It
Tuesday, February 15, 2011
Top Largest Banks in Kenya
The top largest banks of Kenya include Kenya Commercial Bank, National Bank of Kenya, Commercial Bank of Africa, Barclays, among others.
Kenya Commercial Bank Limited (KCB) is the top leading local bank with operations and outlets in all the major administrative centers in Kenya, and across the East and Central African region in Uganda, Tanzania, South Sudan and Rwanda. The main business sectors
Kenya Commercial Bank Limited (KCB) is the top leading local bank with operations and outlets in all the major administrative centers in Kenya, and across the East and Central African region in Uganda, Tanzania, South Sudan and Rwanda. The main business sectors
What's This? Stocks Down! Say It Ain't So!
Believe it or not, all of the major US indices actually finished in the red today.
This is, of course, anathema to the mendacious crowd which fixes prices on all equities, all the time, so an examination of the carcass may reveal a hidden message.
Peering inside the dumped stocks, we find that today's Tuesday decline was led by basic materials (hmmm... commodities) and technology. Four sectors finished positive: financial (no surprise there), health care, utilities and transportation. The only sense to be made from this is that the big money is doing its rotation dance and taking profits. Markets should be back to their normal ascent by tomorrow's opening bell.
Wall Street continues to be in serious denial over the health of the economy and the value of stocks, which are largely over-priced and carrying general valuations of 14-17X earnings. This morning's retail sales figures may have tripped up the algos in the stock-buying computers, because they missed by a mile - coming in at 0.3% gain when the call was for between .05 and .07.
Not surprising that many of the self-proclaimed experts had this analyzed all wrong, especially considering that much of the retail number is based on same-store sales and omits stores closed within the past 12 months, of which there are many. The real number is actually much worse, but we're all supposed to believe that the US economy is improving, so the data must be fudged to meet the "reality."
Dow 12,226.64, -41.55 (0.34%)
NASDAQ 2,804.35, -12.83 (0.46%)
S&P 500 1,328.01, -4.31 (0.32%)
NYSE Composite 8,383.67, -21.48 (0.26%)
Decliners led advancing issues by a wide margin, 3996-2479. On the NASDAQ, there were still 144 new highs and just 23 new lows. On the NYSE, there were 213 new highs and just 13 new lows. Volume was slack, and that's saying quite a bit, since yesterday was the slowest trading day of the year. The bulls may be getting a little winded after a nearly six-month run.
NASDAQ Volume 2,034,250,500
NYSE Volume 4,396,449,000
What was even more interesting that the minor downturn in stocks was the continued action in crude oil futures, which fell again, down 49 cents, to $84.32, the lowest price in twwo and a half months. Gold moved in the opposite direction, up $9.00, to $1,374.10, along with silver, which gained 16 cents, to $30.70, nearing the pinnacle of the recent range.
Look for another leg up in the precious metals, especially on any economic disruptions or blasphemy to the recovery theme, either from the Middle East or economic data that isn't sufficiently massaged. This bull run has gotten pretty long in the tooth and a major correction could lie dead ahead. In fact, it's long overdue.
This is, of course, anathema to the mendacious crowd which fixes prices on all equities, all the time, so an examination of the carcass may reveal a hidden message.
Peering inside the dumped stocks, we find that today's Tuesday decline was led by basic materials (hmmm... commodities) and technology. Four sectors finished positive: financial (no surprise there), health care, utilities and transportation. The only sense to be made from this is that the big money is doing its rotation dance and taking profits. Markets should be back to their normal ascent by tomorrow's opening bell.
Wall Street continues to be in serious denial over the health of the economy and the value of stocks, which are largely over-priced and carrying general valuations of 14-17X earnings. This morning's retail sales figures may have tripped up the algos in the stock-buying computers, because they missed by a mile - coming in at 0.3% gain when the call was for between .05 and .07.
Not surprising that many of the self-proclaimed experts had this analyzed all wrong, especially considering that much of the retail number is based on same-store sales and omits stores closed within the past 12 months, of which there are many. The real number is actually much worse, but we're all supposed to believe that the US economy is improving, so the data must be fudged to meet the "reality."
Dow 12,226.64, -41.55 (0.34%)
NASDAQ 2,804.35, -12.83 (0.46%)
S&P 500 1,328.01, -4.31 (0.32%)
NYSE Composite 8,383.67, -21.48 (0.26%)
Decliners led advancing issues by a wide margin, 3996-2479. On the NASDAQ, there were still 144 new highs and just 23 new lows. On the NYSE, there were 213 new highs and just 13 new lows. Volume was slack, and that's saying quite a bit, since yesterday was the slowest trading day of the year. The bulls may be getting a little winded after a nearly six-month run.
NASDAQ Volume 2,034,250,500
NYSE Volume 4,396,449,000
What was even more interesting that the minor downturn in stocks was the continued action in crude oil futures, which fell again, down 49 cents, to $84.32, the lowest price in twwo and a half months. Gold moved in the opposite direction, up $9.00, to $1,374.10, along with silver, which gained 16 cents, to $30.70, nearing the pinnacle of the recent range.
Look for another leg up in the precious metals, especially on any economic disruptions or blasphemy to the recovery theme, either from the Middle East or economic data that isn't sufficiently massaged. This bull run has gotten pretty long in the tooth and a major correction could lie dead ahead. In fact, it's long overdue.
Largest Financial Services Firms
List of largest financial services firms/companies in the world:
The Barclays Group - It is one of the largest global financial services provider offering retail banking, credit cards, investment banking, private banking, corporate banking and wealth management services. Barclays is the 6th bank group in volume of assets on a national scale, the leading entity among the foreign banks operating
The Barclays Group - It is one of the largest global financial services provider offering retail banking, credit cards, investment banking, private banking, corporate banking and wealth management services. Barclays is the 6th bank group in volume of assets on a national scale, the leading entity among the foreign banks operating
Top Largest Banks in Poland
The top largest banks in Poland include Kredyt Bank, PKO Bank Polski, Bank Pekao SA, Getin Noble Bank S.A., among others.
Kredyt Bank was founded in 1990 as one of the first private banks in Poland. For many years, it has been ranked among the top 10 largest banks in Poland. The bank has received numerous honourable mentions and awards, including three European Medals awarded the Bank by the
Kredyt Bank was founded in 1990 as one of the first private banks in Poland. For many years, it has been ranked among the top 10 largest banks in Poland. The bank has received numerous honourable mentions and awards, including three European Medals awarded the Bank by the
Monday, February 14, 2011
Top Largest Banks in Tanzania
The top Largest Banks of Tanzania include Exim Bank (Tanzania) Limited, NMB, National Bank of Commerce, CRDB Bank, among others.
Exim is ranked among the top ten banks in Tanzania. It has a diverse customer base of active corporate clients which include Reputable Private Businesses and Trading Houses; Financial Institutions; Public Sector Companies; NGOs; Government Ministries; etc. The Bank has
Exim is ranked among the top ten banks in Tanzania. It has a diverse customer base of active corporate clients which include Reputable Private Businesses and Trading Houses; Financial Institutions; Public Sector Companies; NGOs; Government Ministries; etc. The Bank has
MERS can't assign mortgages, judge rules
A personal victory today for me - and possibly hundreds of thousands of homeowners - thanks to U.S. Bankruptcy Judge Robert E. Grossman in Central Islip, New York, who ruled, last Thursday, that Merscorp has no legal right to transfer mortgages.
Anyone following the fiasco that is the housing market knows Merscorp better by MERS, as they were the "nominee" on millions of mortgages written in the housing "boom" of the 2000s. What the judge's ruling does is essentially invalidate most mortgages written between 2003 and 2008 (and some before and after that), because that was the time period in which the largest lenders - Countrywide (now BofA), JP Morgan Chase, WAMU and others used MERS to end-run the county recording offices and save on fees, then packaged and resold these mortgages to witless investors.
Now, the banks have no standing in courts to foreclose and the buyers of those ugly securitized mortgages want their money back. Banks are being forced into a corner, even after being bailed out by the Federal Reserve, TARP and taxpayer money. The ruling from that bankruptcy court and others should serve distressed homeowners well in fights with the banks over ownership rights as they set strong precedents and are are likely only to be overturned by individual state legislatures.
Even then, any new laws validating the banks' practices would have to be applied retroactively, an activity expressly forbidden by the US constitution (remember that?).
This is, in reality, the end of the game for the big banks, which should have been allowed to fail in the beginning. The American public has spent Trillions of dollars keeping these bodies afloat and they are still sinking, and fast. Little by little, Americans are learning to stand up to the banks, city hall, the states and the federal government and demand their rights.
The ruling from this past Thursday stands as a marker in the struggle for resumption of the RULE OF LAW, which has been kept bound and gagged by the current and former presidential administrations. The American public is tired of being lied to and robbed from and the time has come to choose sides. Either you side with the government, the banks and their crooked politics and practices or you side with the people, and seemingly, the courts and the lawyers.
This is a nation governed by the rule of law, not by force or money or politics. Choose now!
Meanwhile, the circus kept running at Wall and Broad.
Dow 12,268.19, -5.07 (0.04%)
NASDAQ 2,817.18, +7.74 (0.28%)
S&P 500 1,332.32, +3.17 (0.24%)
NYSE Composite 8,405.15, +30.26 (0.36%)
Despite the marginal gains, advancing issues led decliners overall, 3686-2856. There were 286 new highs and 23 new lows on the NASDAQ and 355 new highs and 11 new lows on the NYSE. Selected stocks are clearly stretched to the limits of affordability, though with price discovery a lost art in the algo-following world of computer trading, this alone will not foment an imminent collapse of values. However, the volume on the NYSE made another new low point today, just a week after setting the low mark of the year. Rising indices without full-blown participation is the very first tool in the analyst bag, though the rules have been changed so dramatically over the past few years that nothing is certain today.
Still, market manipulations cannot last forever. The rules of economics will eventually take out all of the excess and malinvestment. It has to or the entire market is a fraud.
NASDAQ Volume 1,985,633,750
NYSE Volume 3,959,988,500.00
Note the divergence in commodities. Oil continued down again today, losing another 77 cents, to $84.81, while the precious metals gained. Watch for oil prices to continue their plunge back below $80 and beyond. demand has dried up once the price for US unleaded gas exceeded $3.15 on a national basis. Since the $4.00 shock of 2008, American drivers have made adjustments: buying more fuel-efficient vehicles, driving less, driving smarter, conserving, car-pooling.
Besides the obvious adjustments, the US economy simply is not strong enough - nor is the world economy, for that matter - to justify high fuel prices. There is little to no growth and slack demand. Ergo, oil and gas prices should fall accordingly.
As for the PMs, well, they've resumed their ominous climb. Gold gained $4.70, to $1,365.10, but still remains stuck in a range, though the bottom is in at $1350.00. Silver popped another 54 cents, to $30.53, approaching the 30-year-highs last seen in December.
The lid is about to come off the entire global system of financial fraud, again.
Anyone following the fiasco that is the housing market knows Merscorp better by MERS, as they were the "nominee" on millions of mortgages written in the housing "boom" of the 2000s. What the judge's ruling does is essentially invalidate most mortgages written between 2003 and 2008 (and some before and after that), because that was the time period in which the largest lenders - Countrywide (now BofA), JP Morgan Chase, WAMU and others used MERS to end-run the county recording offices and save on fees, then packaged and resold these mortgages to witless investors.
Now, the banks have no standing in courts to foreclose and the buyers of those ugly securitized mortgages want their money back. Banks are being forced into a corner, even after being bailed out by the Federal Reserve, TARP and taxpayer money. The ruling from that bankruptcy court and others should serve distressed homeowners well in fights with the banks over ownership rights as they set strong precedents and are are likely only to be overturned by individual state legislatures.
Even then, any new laws validating the banks' practices would have to be applied retroactively, an activity expressly forbidden by the US constitution (remember that?).
This is, in reality, the end of the game for the big banks, which should have been allowed to fail in the beginning. The American public has spent Trillions of dollars keeping these bodies afloat and they are still sinking, and fast. Little by little, Americans are learning to stand up to the banks, city hall, the states and the federal government and demand their rights.
The ruling from this past Thursday stands as a marker in the struggle for resumption of the RULE OF LAW, which has been kept bound and gagged by the current and former presidential administrations. The American public is tired of being lied to and robbed from and the time has come to choose sides. Either you side with the government, the banks and their crooked politics and practices or you side with the people, and seemingly, the courts and the lawyers.
This is a nation governed by the rule of law, not by force or money or politics. Choose now!
Meanwhile, the circus kept running at Wall and Broad.
Dow 12,268.19, -5.07 (0.04%)
NASDAQ 2,817.18, +7.74 (0.28%)
S&P 500 1,332.32, +3.17 (0.24%)
NYSE Composite 8,405.15, +30.26 (0.36%)
Despite the marginal gains, advancing issues led decliners overall, 3686-2856. There were 286 new highs and 23 new lows on the NASDAQ and 355 new highs and 11 new lows on the NYSE. Selected stocks are clearly stretched to the limits of affordability, though with price discovery a lost art in the algo-following world of computer trading, this alone will not foment an imminent collapse of values. However, the volume on the NYSE made another new low point today, just a week after setting the low mark of the year. Rising indices without full-blown participation is the very first tool in the analyst bag, though the rules have been changed so dramatically over the past few years that nothing is certain today.
Still, market manipulations cannot last forever. The rules of economics will eventually take out all of the excess and malinvestment. It has to or the entire market is a fraud.
NASDAQ Volume 1,985,633,750
NYSE Volume 3,959,988,500.00
Note the divergence in commodities. Oil continued down again today, losing another 77 cents, to $84.81, while the precious metals gained. Watch for oil prices to continue their plunge back below $80 and beyond. demand has dried up once the price for US unleaded gas exceeded $3.15 on a national basis. Since the $4.00 shock of 2008, American drivers have made adjustments: buying more fuel-efficient vehicles, driving less, driving smarter, conserving, car-pooling.
Besides the obvious adjustments, the US economy simply is not strong enough - nor is the world economy, for that matter - to justify high fuel prices. There is little to no growth and slack demand. Ergo, oil and gas prices should fall accordingly.
As for the PMs, well, they've resumed their ominous climb. Gold gained $4.70, to $1,365.10, but still remains stuck in a range, though the bottom is in at $1350.00. Silver popped another 54 cents, to $30.53, approaching the 30-year-highs last seen in December.
The lid is about to come off the entire global system of financial fraud, again.
Label:
foreclosures,
housing,
MERS
Bulgarian Stock Exchange - Sofia
The Bulgarian Stock Exchange (BSE) is operating in Sofia, the capital of Bulgaria. It was officially licensed by the State Securities and Exchange Commission to operate as a stock exchange on 9 October 1997.
The scope of the Exchange activity includes the following: Operation and maintenance of information systems for trading in securities; Organizing trading in securities and other financial
The scope of the Exchange activity includes the following: Operation and maintenance of information systems for trading in securities; Organizing trading in securities and other financial
Top Largest Banks in Hungary
The top largest banks of Hungary include OTP Bank Plc, K&H Bank, Erste Bank Hungary, MKB Bank, among others.
OTP Bank Plc. is the largest bank among Hungarian credit institutions and is the dominant player in each segment of the Hungarian banking market. By the end of 2008 bankcards issued by OTP was nearly 4 million and the Bank executed 79.3 million transactions through its own ATM network of
OTP Bank Plc. is the largest bank among Hungarian credit institutions and is the dominant player in each segment of the Hungarian banking market. By the end of 2008 bankcards issued by OTP was nearly 4 million and the Bank executed 79.3 million transactions through its own ATM network of
Stock Brokers in Zambia
The leading stock brokers (broking firms) in Zambia include Intermarket Securities (Z) Limited, Stockbrokers Zambia Limited, and Pangaea/EMI Securities Limited.
Intermarket Securities Limited is a registered stockbroker and investment advisory firm. It is licensed by the Securities and Exchange Commission and is a member of the Lusaka Stock Exchange (LUSE). The main products and services offered
Intermarket Securities Limited is a registered stockbroker and investment advisory firm. It is licensed by the Securities and Exchange Commission and is a member of the Lusaka Stock Exchange (LUSE). The main products and services offered
Sunday, February 13, 2011
Top Largest Banks in Uganda
The top largest banks of Uganda include Stanbic Bank (Uganda), Bank of Uganda, Barclays, DFCU, etc.
Stanbic Bank (Uganda) Limited (SBU) is the largest commercial bank in the country, by assets, with an estimated asset valuation of US$991 million, accounting for about 23% of the total bank assets in Uganda, as of June 2010. It is subsidiary of the Standard Bank Group.
The Bank of Uganda (BoU) is
Stanbic Bank (Uganda) Limited (SBU) is the largest commercial bank in the country, by assets, with an estimated asset valuation of US$991 million, accounting for about 23% of the total bank assets in Uganda, as of June 2010. It is subsidiary of the Standard Bank Group.
The Bank of Uganda (BoU) is
Stock Exchange of Mauritius (SEM)
The Stock Exchange of Mauritius Ltd (SEM) is the principal stock exchange in the island country of Mauritius. It was incorporated on March 30, 1989 under the Stock Exchange Act 1988. The SEM is committed to becoming a World Class Stock Exchange.
SEM is one of the leading Exchanges in Africa and a member of the World Federation of Exchanges (WFE). It operates two markets: the Official Market, and
SEM is one of the leading Exchanges in Africa and a member of the World Federation of Exchanges (WFE). It operates two markets: the Official Market, and
Top Largest Banks in Portugal
The top largest banks of Portugal include CGD, Portuguese Commercial Bank, BES, among others.
Caixa Geral de Depósitos (CGD) is a leading institution of reference in the Portuguese financial system and is the largest bank in Portugal. CGD is ranked the 77th most valuable financial brand in the world according to a report published by Brand Finance. It is ranked above other banking brands such as
Caixa Geral de Depósitos (CGD) is a leading institution of reference in the Portuguese financial system and is the largest bank in Portugal. CGD is ranked the 77th most valuable financial brand in the world according to a report published by Brand Finance. It is ranked above other banking brands such as
Kuwait Stock Exchange (KSE)
The Kuwait Stock Exchange (KSE) is the principal stock market of The State of Kuwait. The KSE offers access to a growing and vibrant capital market for both domestic and foreign investors by providing a cost-effective and stable market for raising capital and enhancing visibility.
Kuwait Stock Exchange is a corresponding member of the world federations of Exchanges in Paris (Former FIBV). It is
Kuwait Stock Exchange is a corresponding member of the world federations of Exchanges in Paris (Former FIBV). It is
Saturday, February 12, 2011
Top Largest Banks in South Africa
The top largest banks of South Africa include Absa, Standard Bank of South Africa, First National Bank, Nedbank, among others.
Amalgamated Banks of South Africa Limited (Absa) is one of the top largest banks in South Africa offering private, retail and corporate banking. Absa is a household name and amongst the many accolades was rated as the No. 1 Banking Brand and Coolest Banking Brand in
Amalgamated Banks of South Africa Limited (Absa) is one of the top largest banks in South Africa offering private, retail and corporate banking. Absa is a household name and amongst the many accolades was rated as the No. 1 Banking Brand and Coolest Banking Brand in
Lusaka Stock Exchange
The Lusaka Stock Exchange (LuSE) is the principal stock exchange in Zambia. It was founded with preparatory technical assistance from the International Finance Corporation (IFC) and the World Bank in 1993.
The Lusaka Stock Exchange has been set up as a modern stock exchange based on the most current international standards and practices. It is made up of stock broking corporate members and is
The Lusaka Stock Exchange has been set up as a modern stock exchange based on the most current international standards and practices. It is made up of stock broking corporate members and is
Top Largest Banks in Denmark
The top Largest banks of Denmark include Arbejdernes Landsbank, Danske Bank, Alm. Brand Bank, Jyske Bank, among others.
Founded in 1919, Arbejdernes Landsbank is among the top 10 largest banks in Denmark. Headquartered in Copenhagen, the bank has an extensive branch network across the country, and offering a broad base of financial products and services.
When measured by total assets, the
Founded in 1919, Arbejdernes Landsbank is among the top 10 largest banks in Denmark. Headquartered in Copenhagen, the bank has an extensive branch network across the country, and offering a broad base of financial products and services.
When measured by total assets, the
Stock Brokers in Turkey
Following are the leading stock brokerage firms in Turkey:
Yapi Kredi Yatirim (YKY) - YKY brokers team is among the most heavily staffed at Istanbul Stock Exchange (ISE), which is one of the fastest growing markets in the world. At YKY, investors can benefit from the convenience and reliability in settlement. The settlements are being performed in an error-free way by the Operations Department.
Yapi Kredi Yatirim (YKY) - YKY brokers team is among the most heavily staffed at Istanbul Stock Exchange (ISE), which is one of the fastest growing markets in the world. At YKY, investors can benefit from the convenience and reliability in settlement. The settlements are being performed in an error-free way by the Operations Department.
Friday, February 11, 2011
Top Largest Banks in Bangladesh
The top largest banks of Bangladesh include Sonali Bank Limited, IBBL, Dutch-Bangla Bank, HSBC Bank Bangladesh, among others.
Sonali Bank is the largest bank of the country, emerged as the leading Nationalized Commercial Bank by proclamation of the Banks' Nationalization Order 1972 (Presidential Order-26).
Islami Bank Bangladesh Limited (IBBL) is a leading private commercial bank in Bangladesh.
Sonali Bank is the largest bank of the country, emerged as the leading Nationalized Commercial Bank by proclamation of the Banks' Nationalization Order 1972 (Presidential Order-26).
Islami Bank Bangladesh Limited (IBBL) is a leading private commercial bank in Bangladesh.
Mubarak Flees Egypt; Stocks Rally in US
Nothing like the deposition of a dictator to raise the animal spirits of the ruthless Wall Street crowd. The self-proclaimed Masters of the Universe are probably plotting now on how to best liberate the newly-free people of Egypt from their valuables.
Meanwhile, back at the exchanges, stocks started lower again and then rapidly moved up, similar to yesterday's trading, though with a little more lift. In addition to the news out of Cairo, the Primary Dealers were once again treated to a little $7 billion POMO, courtesy of their favorite Central Banker, Chairman Ben Bernanke.
Actually, with an overthrown government in the Middle East and $7 billion in walking-around money, one would think that today's results were less-than-adequate. Then again, stocks were extremely overpriced in October of last year, and it's been straight up since then, so there must be a dearth of new suckers... er, investors.
Dow 12,273.26, +43.97 (0.36%)
NASDAQ 2,809.44, +18.99 (0.68%)
S&P 500 1,329.15, +7.28 (0.55%)
NYSE Composite 8,374.89, +37.76 (0.45%)
Volume was pretty thin again, but advancing issued lambasted decliners, 4637-1883. NASDAQ recorded 237 new highs and a mere 25 new lows. On the NYSE, the numbers were skewed even more, with 318 new highs and only 10 new lows.
NASDAQ Volume 2,074,279,250.00
NYSE Volume 4,690,140,000
With tensions subsiding in Egypt, oil traders took down the price by $1.15, to $85.58. By the same rationale, gold fell $2.10, to $1,360.40, and silver was off by 10 cents, to an even $30.00 at the close of trading in NY.
With the markets up, winter coming to a fast end, Mubarak out and nothing but good times ahead, we evoke the spirit of depression-era impresario Ted Lewis, asking the musical question, Is Everybody Happy?
Meanwhile, back at the exchanges, stocks started lower again and then rapidly moved up, similar to yesterday's trading, though with a little more lift. In addition to the news out of Cairo, the Primary Dealers were once again treated to a little $7 billion POMO, courtesy of their favorite Central Banker, Chairman Ben Bernanke.
Actually, with an overthrown government in the Middle East and $7 billion in walking-around money, one would think that today's results were less-than-adequate. Then again, stocks were extremely overpriced in October of last year, and it's been straight up since then, so there must be a dearth of new suckers... er, investors.
Dow 12,273.26, +43.97 (0.36%)
NASDAQ 2,809.44, +18.99 (0.68%)
S&P 500 1,329.15, +7.28 (0.55%)
NYSE Composite 8,374.89, +37.76 (0.45%)
Volume was pretty thin again, but advancing issued lambasted decliners, 4637-1883. NASDAQ recorded 237 new highs and a mere 25 new lows. On the NYSE, the numbers were skewed even more, with 318 new highs and only 10 new lows.
NASDAQ Volume 2,074,279,250.00
NYSE Volume 4,690,140,000
With tensions subsiding in Egypt, oil traders took down the price by $1.15, to $85.58. By the same rationale, gold fell $2.10, to $1,360.40, and silver was off by 10 cents, to an even $30.00 at the close of trading in NY.
With the markets up, winter coming to a fast end, Mubarak out and nothing but good times ahead, we evoke the spirit of depression-era impresario Ted Lewis, asking the musical question, Is Everybody Happy?
Label:
Ben Bernanke,
Ted Lewis
Bucharest Stock Exchange
The Bucharest Stock Exchange (Bursa de Valori Bucuresti; BVB) is located in Bucharest, capital of Romania. It was inaugurated on 1 December 1882, in the Trade Chamber building located in Doamnei street.
In 2003 Bucharest Stock Exchange became a full rights member of the Federation of Euro-Asian Stock Exchanges (FEAS) and carried out the actions necessary for preserving its status of
In 2003 Bucharest Stock Exchange became a full rights member of the Federation of Euro-Asian Stock Exchanges (FEAS) and carried out the actions necessary for preserving its status of
Safest Banks in Spain
Following are among the best and safest banks in Spain:
Banco Santander
- It has been ranked 1st in Spain and 14th in the world among the safest banks by Global Finance magazine.
- By 1957, the Banco de Santander had become the seventh ranked finance house in Spain.
- In 2006, Santander made record profits of € 7.596 billion, the biggest of any Spanish company, spurring heavy investment in
Banco Santander
- It has been ranked 1st in Spain and 14th in the world among the safest banks by Global Finance magazine.
- By 1957, the Banco de Santander had become the seventh ranked finance house in Spain.
- In 2006, Santander made record profits of € 7.596 billion, the biggest of any Spanish company, spurring heavy investment in
Top Largest Banks in Ukraine
The top largest banks in Ukraine include Prominvestbank, Raiffeisen Bank Aval, UniCredit Bank, Alfa-Bank Ukraine, Kreditprombank, among others.
Prominvestbank is one of the largest and reliable Ukrainian economy creditors. It was founded in 1992. From the moment of its foundation Prominvestbank is among the group of the largest Ukrainian banks. In 2001 the Bank was ranked among the Top 1000
Prominvestbank is one of the largest and reliable Ukrainian economy creditors. It was founded in 1992. From the moment of its foundation Prominvestbank is among the group of the largest Ukrainian banks. In 2001 the Bank was ranked among the Top 1000
Thursday, February 10, 2011
Warsaw Stock Exchange
The Warsaw Stock Exchange (WSE; or in Polish: Giełda Papierów Wartościowych; GPW ) is a stock exchange located in Warsaw, Poland. It is a joint-stock company established by the State Treasury.
Since 17 November 2000, quotations on the WSE have been taking place in the WARSET system (WARsaw Stock Exchange Trading system). As at 30 June 2010 it was the biggest national stock exchange in CEE and
Since 17 November 2000, quotations on the WSE have been taking place in the WARSET system (WARsaw Stock Exchange Trading system). As at 30 June 2010 it was the biggest national stock exchange in CEE and
Largest Banks in Brazil
The largest banks of Brazil include Itau Unibanco, Banco Bradesco, Bank of Brazil, HSBC Bank Brasil, Banco Safra, among others.
Itau Unibanco is the result of the merger of Banco Itau and Unibanco, which occurred on 4 November 2008 to form Itau Unibanco Holding S.A, the biggest financial conglomerate in the Southern Hemisphere, with a market value among the 20 largest financial institutions in
Itau Unibanco is the result of the merger of Banco Itau and Unibanco, which occurred on 4 November 2008 to form Itau Unibanco Holding S.A, the biggest financial conglomerate in the Southern Hemisphere, with a market value among the 20 largest financial institutions in
Dow Ends Win Streak... Barely; Mubarak to Stay, Same with Bernanke
Houston, we have a problem. The markets are no longer liquid enough even for machines to move them. Today's trade, on the back of a gloomy outlook from Cisco (CSCO) after the close on Wednesday, was pathetic, and fitting, upon the widespread rumors that the NYSE would be sold to the Deustch Bourse and that President Mubarak of Egypt would step down.
None of that seemed to matter very much, as well as the rosy picture painted by the release of the current first time unemployment claims, which came in at 383,000, far better than expected.
The markets (or, those who control the markets) would have none of it, at least for the first half-hour of trading, that is. as all major indices dropped right from the opening bell, hitting bottom right about 10:00 am, 1/2 hour into the session. The Dow shed 83 points, but immediately rallied back up 50 points, shaving off the losses and trapping the retail investors who sold in the early part of the day.
For the remainder of the session, stocks vacillated in a narrow range, finally ending nearly unchanged, with the Dow down, the S&P and NASDAQ barely in the green. The Dow snapped an 8-day win streak with a 10-point loss. Ho-hum. It was a day of futility all around as nothing newsworthy seemed to either occur nor move stocks in any clearly-defined direction.
Dow 12,229.29, -10.60 (0.09%)
NASDAQ 2,790.45, +1.38 (0.05%)
S&P 500 1,321.87, +0.99 (0.07%)
NYSE Composite 8,337.13, -6.86 (0.08%)
Advancers and decliners were nearly at a stalemate, with winners ahead slightly at the close, 3281-3170. NASDAQ new highs totaled 175, with new lows at 30. On the NYSE, there were 180 new highs, with 18 new lows. Volume was dull on the NYSE, but rather strong on the NASDAQ, due primarily to heavy selling from Cisco, which reported nearly flat second quarter earnings, but scared some with downbeat forecasts. The 13% drop in the stock was probably a bit exaggerated as seems to the theme these days. Anything even slightly positive or negative results in big moves one way or the other in the most-tightly-wrapped market ever.
NASDAQ Volume 2,512,622,250.00
NYSE Volume 4,705,256,500
Commodities mostly treaded water as well. Oil gained two cents, to $86.73. Gold was off $3.00, to $1,362.50, but silver shed 18 cents, to $30.09.
Put this one in the books and store it for future reference. One gets the feeling that there's quite a bit of tension out there in the trading pits and something big is about to occur. A major sell-off or resumption of the rally would not be much of a surprise over the next two to three sessions.
None of that seemed to matter very much, as well as the rosy picture painted by the release of the current first time unemployment claims, which came in at 383,000, far better than expected.
The markets (or, those who control the markets) would have none of it, at least for the first half-hour of trading, that is. as all major indices dropped right from the opening bell, hitting bottom right about 10:00 am, 1/2 hour into the session. The Dow shed 83 points, but immediately rallied back up 50 points, shaving off the losses and trapping the retail investors who sold in the early part of the day.
For the remainder of the session, stocks vacillated in a narrow range, finally ending nearly unchanged, with the Dow down, the S&P and NASDAQ barely in the green. The Dow snapped an 8-day win streak with a 10-point loss. Ho-hum. It was a day of futility all around as nothing newsworthy seemed to either occur nor move stocks in any clearly-defined direction.
Dow 12,229.29, -10.60 (0.09%)
NASDAQ 2,790.45, +1.38 (0.05%)
S&P 500 1,321.87, +0.99 (0.07%)
NYSE Composite 8,337.13, -6.86 (0.08%)
Advancers and decliners were nearly at a stalemate, with winners ahead slightly at the close, 3281-3170. NASDAQ new highs totaled 175, with new lows at 30. On the NYSE, there were 180 new highs, with 18 new lows. Volume was dull on the NYSE, but rather strong on the NASDAQ, due primarily to heavy selling from Cisco, which reported nearly flat second quarter earnings, but scared some with downbeat forecasts. The 13% drop in the stock was probably a bit exaggerated as seems to the theme these days. Anything even slightly positive or negative results in big moves one way or the other in the most-tightly-wrapped market ever.
NASDAQ Volume 2,512,622,250.00
NYSE Volume 4,705,256,500
Commodities mostly treaded water as well. Oil gained two cents, to $86.73. Gold was off $3.00, to $1,362.50, but silver shed 18 cents, to $30.09.
Put this one in the books and store it for future reference. One gets the feeling that there's quite a bit of tension out there in the trading pits and something big is about to occur. A major sell-off or resumption of the rally would not be much of a surprise over the next two to three sessions.
Stock Brokers in Lithuania
Some of the leading stock brokers in Lithuania include Evli, Finasta, LHV, Orion Securities, etc.
EvliNet offers a direct link to the Helsinki Stock Echange's electronic trading system. It provides investors with analysis made by Evli's investment research and the Kauppalehti Online real time business news feed. In addition, investors can also trade in the international equity markets through
EvliNet offers a direct link to the Helsinki Stock Echange's electronic trading system. It provides investors with analysis made by Evli's investment research and the Kauppalehti Online real time business news feed. In addition, investors can also trade in the international equity markets through
Top Largest Banks in Egypt
The top largest banks of Egypt include Commercial International Bank (CIB), National Bank of Egypt, NSGB, Bank of Alexandria, Faisal Islamic Bank of Egypt, among others.
Commercial International Bank (Egypt) holds the largest market capital in the Egyptian banking sector. It is a market leader in adopting international best practices regarding Corporate Governance and Disclosure, and creating
Commercial International Bank (Egypt) holds the largest market capital in the Egyptian banking sector. It is a market leader in adopting international best practices regarding Corporate Governance and Disclosure, and creating
Wednesday, February 09, 2011
Oslo Stock Exchange
The Oslo Stock Exchange (Norwegian: Oslo Børs) was founded in 1819 and serves as the main market for trading in the shares in Norway. The Exchange offers a full range of products including equities, derivatives and fixed income instruments.
Oslo Børs offers trading in both standardized derivatives and non-standardized derivatives (also known as OTC derivatives). Shares can be traded on Oslo Børs
Oslo Børs offers trading in both standardized derivatives and non-standardized derivatives (also known as OTC derivatives). Shares can be traded on Oslo Børs
Top Largest Banks in Chile
The top largest banks of Chile include Banco Santander Chile, Banco de Chile, Banco de Credito e Inversiones, Scotiabank, Deutsche Bank, among others.
Banco Santander Chile is the largest bank in Chile by assets. It is a division of Grupo Santander.
Founded in 1893 as result of the merger of Banco Nacional de Chile, Banco Agricola and Banco de Valparaiso, Banco de Chile has been one of the
Banco Santander Chile is the largest bank in Chile by assets. It is a division of Grupo Santander.
Founded in 1893 as result of the merger of Banco Nacional de Chile, Banco Agricola and Banco de Valparaiso, Banco de Chile has been one of the
Miracle Rally Sends Dow to 8th Straight Gain
Over the past two days, I've tried to make the case that I am optimistic instead of pessimistic and that the recovery we've been told over and over and over again ad nauseum is actually real and not fully backed by the free printing of money.
Oddly enough, we have in America a free press, but it is largely the one used by the Treasury and the Fed to create money, not the one that enlightens opinion with words of wisdom. I have tried my best to drink the Kool-aid that says all is well, the Fed has the economy under control and that unemployment really is only 9%, when all along I know there are dangers lurking everywhere, the Fed is actually out of control (lost all control when they dropped interest rates to ZERO), and that unemployment in America is much closer to 20% (maybe even above that) than 10% when factoring in all the part-time jobs, heuristic and hedonic measurements and adjustments made by the BLS and other government statistic-throwers.
I simply cannot profess to any kind of fundamental economic theory that would have me believe that the best way to solve a debt and solvency crisis is with more debt and by keeping insolvent companies (banks, GM, Chrysler) afloat with taxpayer dollars. Neither can I avow to any belief in the Federal Reserve, knowledgeable in the fact that the Fed, since 1913, has reduced the buying power of the US dollar by 97% and that since 1971 - when Nixon closed the gold window - the world has been operating with a fantasy reserve currency, backed only by the good faith and credit of the United States of America, the world's biggest borrower and instigator of costly wars for the national "good."
Label me a pessimist if you must, but not before reading this somewhat over-the-top (but not by much) article on why small businesses aren't hiring.
Then read the comments, including this one:
Some of the biggest news today was that concerning the proposed merger of the NYSE/Euronext and the Deutsche Boerse. As it turns out, merger is an incorrect term by which to identify this transaction. Rather, the NYSE is selling itself to the Deutsche Boerse, meaning that even though there will be co-headquarters in New York and Berlin, the Germans will hold the controlling interest - about 60% - meaning one of our most basic institutions, the venerable New York Stock Exchange, will be largely owned by foreigners.
While this is not new nor novel - recall the Japanese buying up most of Manhattan's expensive real estate in the 70s (at inflated prices) - the precedent it sets is troubling. What will we sell next? The Empire State Building, the Statue of Liberty, the Capitol, the White House?
Some may argue that the latter two edifices are already foreign-owned, the title is still officially held by the US government, for now, though, as economics becomes more and more a dark science, that is subject to change. As it is, I am writing from a home heated by fuel supplied by a company based in Spain - a deal backed fully some years ago by Senator Charles (Sellout) Schumer - so, if our energy resources are to be parceled out to foreigners, why not the rest of the country. After all, there's no security risk in that, no?
Maybe having a bunch of rich German bankers running the NYSE is a good thing in disguise. The low volume of trading (Tuesday was the lowest of 2011 so far) is a signal that the exchange may not even be worth what the Germans are supposedly offering, which is about a 10% premium from where the stock (NYX) closed on Tuesday. Maybe it's time for Americans to throw up he white cloth en masse and surrender to the economic forces of the rest of the planet, put up big "for sale" signs in all the harbors and ports, and say goodnight. The party is officially over. Call it a day. Stop pretending that we're "exceptional" and sell us off for parts.
Maybe some of us could actually get a job in the deal. Of course, it would be a wages more commensurate with those in Thailand or Nigreia, but, hey, it's a buyer's market. Maybe the banks can sell off all that unsold REO for pennies on the dollar and retire their debt, along with their businesses. Let's be honest. America is for sale and the parceling out of the NYSE is just one, big, obvious example of just how broke we really are.
Speaking of broke, one thing that the crooks and manipulators on Wall Street simply could not see happen was breaking the string of positive closes by the Dow, which managed, miraculously, devoid of any news, to shake out of its dolorous decline of more than 40 points around 2:45 pm, and close slightly positive for the 8th day in a row. Now I know that America is bankrupt, financially as well as morally.
Strange as it may seem, only the Dow ended in plus territory and it was the only one riding a winning streak. Somebody at Goldman Sachs must have a bet, heavily-leveraged, that the Dow will continue going up for ten straight days. Only two left!
Dow 12,239.89, +6.74 (0.06%)
NASDAQ 2,789.07, -7.98 (0.29%)
S&P 500 1,320.89, -3.68 (0.28%)
NYSE Composite 8,343.84, -36.01 (0.43%)
Declining issues still stomped all over advancers, 4089-2399. New highs outnumbered new lows on the NASDAQ, 162-20; and on the NYSE, 196-13. Volume was down in the pits again, just barely above Tuesday's 2011-low level.
NASDAQ Volume 1,898,219,125.00
NYSE Volume 4,424,957,000
Oil futures finished slightly lower, down 23 cents, to $86.71, as OPEC production reached its highest level in two years and gasoline supplies in the US were at their highest levels in 21 years, due to diminishing demand.
Gold gained $1.40, to $1,365.50, while silver was flat, at $30.28.
In Washington, our comedy channel, otherwise know as congress, proposed some "big" spending cuts in the 2011 budget, which, by the way, is already five months down the road. These cuts of anywhere between $35 billion and $74 billion, are minuscule compared to the overall size of the proposed federal budget ($3.8 trillion) and less than 3% of the proposed deficit.
These aren't cuts, they're a mockery of the American public and the laws of economics.
Lastly, the video not to be missed, in which the difference between homeowners who don't pay mortgages and bankers who cheat at every turn is discussed:
Bankster vs. Deadbeat
Oddly enough, we have in America a free press, but it is largely the one used by the Treasury and the Fed to create money, not the one that enlightens opinion with words of wisdom. I have tried my best to drink the Kool-aid that says all is well, the Fed has the economy under control and that unemployment really is only 9%, when all along I know there are dangers lurking everywhere, the Fed is actually out of control (lost all control when they dropped interest rates to ZERO), and that unemployment in America is much closer to 20% (maybe even above that) than 10% when factoring in all the part-time jobs, heuristic and hedonic measurements and adjustments made by the BLS and other government statistic-throwers.
I simply cannot profess to any kind of fundamental economic theory that would have me believe that the best way to solve a debt and solvency crisis is with more debt and by keeping insolvent companies (banks, GM, Chrysler) afloat with taxpayer dollars. Neither can I avow to any belief in the Federal Reserve, knowledgeable in the fact that the Fed, since 1913, has reduced the buying power of the US dollar by 97% and that since 1971 - when Nixon closed the gold window - the world has been operating with a fantasy reserve currency, backed only by the good faith and credit of the United States of America, the world's biggest borrower and instigator of costly wars for the national "good."
Label me a pessimist if you must, but not before reading this somewhat over-the-top (but not by much) article on why small businesses aren't hiring.
Then read the comments, including this one:
I am a self employed business owner, and my brother is also a small business owner. Neither of us will hire an employee under any circumstance, even if the economy was improving or even just steady. Here is why; the local, state, and Fed governments are out of their f---ing minds with rules, regulations, fines, direct and indirect ( hidden ) taxes. Hiring an employee is almost a form of self destruction where you are forced to provide guarantees to the employee and the state to provide for their well being. OSHA, Labor dept, DOT, Workers Comp., Unemployment, Health Care rules for Cobra, retirement , EPA, Dept. of Environmental Conservation, IRS, State Taxation, etc. etc. and f--k all of that bull---t. Been there, done that, will not do it again. This article describes myself and almost all the self employed people that I know to perfection. When help is needed, hire other self employed guys and gals, 1099 them and you are done. Keep overhead to an absolute minimum.Maybe then, you'll begin to understand my anti-corporate, anti-government opinions.
Some of the biggest news today was that concerning the proposed merger of the NYSE/Euronext and the Deutsche Boerse. As it turns out, merger is an incorrect term by which to identify this transaction. Rather, the NYSE is selling itself to the Deutsche Boerse, meaning that even though there will be co-headquarters in New York and Berlin, the Germans will hold the controlling interest - about 60% - meaning one of our most basic institutions, the venerable New York Stock Exchange, will be largely owned by foreigners.
While this is not new nor novel - recall the Japanese buying up most of Manhattan's expensive real estate in the 70s (at inflated prices) - the precedent it sets is troubling. What will we sell next? The Empire State Building, the Statue of Liberty, the Capitol, the White House?
Some may argue that the latter two edifices are already foreign-owned, the title is still officially held by the US government, for now, though, as economics becomes more and more a dark science, that is subject to change. As it is, I am writing from a home heated by fuel supplied by a company based in Spain - a deal backed fully some years ago by Senator Charles (Sellout) Schumer - so, if our energy resources are to be parceled out to foreigners, why not the rest of the country. After all, there's no security risk in that, no?
Maybe having a bunch of rich German bankers running the NYSE is a good thing in disguise. The low volume of trading (Tuesday was the lowest of 2011 so far) is a signal that the exchange may not even be worth what the Germans are supposedly offering, which is about a 10% premium from where the stock (NYX) closed on Tuesday. Maybe it's time for Americans to throw up he white cloth en masse and surrender to the economic forces of the rest of the planet, put up big "for sale" signs in all the harbors and ports, and say goodnight. The party is officially over. Call it a day. Stop pretending that we're "exceptional" and sell us off for parts.
Maybe some of us could actually get a job in the deal. Of course, it would be a wages more commensurate with those in Thailand or Nigreia, but, hey, it's a buyer's market. Maybe the banks can sell off all that unsold REO for pennies on the dollar and retire their debt, along with their businesses. Let's be honest. America is for sale and the parceling out of the NYSE is just one, big, obvious example of just how broke we really are.
Speaking of broke, one thing that the crooks and manipulators on Wall Street simply could not see happen was breaking the string of positive closes by the Dow, which managed, miraculously, devoid of any news, to shake out of its dolorous decline of more than 40 points around 2:45 pm, and close slightly positive for the 8th day in a row. Now I know that America is bankrupt, financially as well as morally.
Strange as it may seem, only the Dow ended in plus territory and it was the only one riding a winning streak. Somebody at Goldman Sachs must have a bet, heavily-leveraged, that the Dow will continue going up for ten straight days. Only two left!
Dow 12,239.89, +6.74 (0.06%)
NASDAQ 2,789.07, -7.98 (0.29%)
S&P 500 1,320.89, -3.68 (0.28%)
NYSE Composite 8,343.84, -36.01 (0.43%)
Declining issues still stomped all over advancers, 4089-2399. New highs outnumbered new lows on the NASDAQ, 162-20; and on the NYSE, 196-13. Volume was down in the pits again, just barely above Tuesday's 2011-low level.
NASDAQ Volume 1,898,219,125.00
NYSE Volume 4,424,957,000
Oil futures finished slightly lower, down 23 cents, to $86.71, as OPEC production reached its highest level in two years and gasoline supplies in the US were at their highest levels in 21 years, due to diminishing demand.
Gold gained $1.40, to $1,365.50, while silver was flat, at $30.28.
In Washington, our comedy channel, otherwise know as congress, proposed some "big" spending cuts in the 2011 budget, which, by the way, is already five months down the road. These cuts of anywhere between $35 billion and $74 billion, are minuscule compared to the overall size of the proposed federal budget ($3.8 trillion) and less than 3% of the proposed deficit.
These aren't cuts, they're a mockery of the American public and the laws of economics.
Lastly, the video not to be missed, in which the difference between homeowners who don't pay mortgages and bankers who cheat at every turn is discussed:
Bankster vs. Deadbeat
Label:
mortgage defaults
Stock Brokers in Hungary
Following are the leading stock brokers in Hungary:
Erste Bank Investment Hungary Ltd (EBIH Ltd.)
- It is one of the top leading brokerage firm in the Hungarian capital market. It is 100% owned by Erste Bank Hungary.
- The company offers a range of services and products to its clients, including: Interbank currency trading; Placing bid in T-Bill auctions; Leveraged positions by credit; Equity
Erste Bank Investment Hungary Ltd (EBIH Ltd.)
- It is one of the top leading brokerage firm in the Hungarian capital market. It is 100% owned by Erste Bank Hungary.
- The company offers a range of services and products to its clients, including: Interbank currency trading; Placing bid in T-Bill auctions; Leveraged positions by credit; Equity
Top Largest Banks in Spain
The top largest banks in Spain include BBVA, Banco Sabadell, Santander, BBE, among others.
Banco Bilbao Vizcaya Argentaria (BBVA) is the second largest bank in Spain and the seventh largest financial institution in the Western world. It was named Bank of the Year in Colombia and Venezuela by The Banker in the 2010 awards conferred in London. BBVA has become the first Spanish company to sign an
Banco Bilbao Vizcaya Argentaria (BBVA) is the second largest bank in Spain and the seventh largest financial institution in the Western world. It was named Bank of the Year in Colombia and Venezuela by The Banker in the 2010 awards conferred in London. BBVA has become the first Spanish company to sign an
Tuesday, February 08, 2011
Montenegro Stock Exchange
The Montenegro Stock Exchange (MNSE) is located in Podgorica, Montenegro. It was established in June 1993, in base of Law on Money and Capital Market.
The Exchange has received founding licence from Federal Ministry of Finance, licence for trading with short term securities from Yugoslav Central Bank and licence for trading with long term securities from Federal Securities Commission. Since
The Exchange has received founding licence from Federal Ministry of Finance, licence for trading with short term securities from Yugoslav Central Bank and licence for trading with long term securities from Federal Securities Commission. Since
Stocks Causing a Boom, or a Mirage?
If you're invested in stocks, you'll be happy to know that the Dow recorded its seventh straight gain today. It's been an incredible run from the last day of January through the first six trading days of February, with the most-watched stock index up a whopping 410 points over the seven-session run and up more than 2200 points since this leg of the rally began on September 1, 2010. That's a nifty 22% gain in just over five months - a very neat trick.
Stocks in general have been a great place to be for the last 23 months, since the bottom on March 9 2009, with the major averages all up more than 80%.
Should one argue with such success? Maybe not. Maybe Ben Bernanke knows exactly what he's doing by continuously inflating the money supply, even though his critics argue that he's causing severe inflation and a bubble in commodities or that his practices will eventually implode in a hyperinflationary event that will kill the US dollar.
So far, the commodity trade has been profitable, and it may be nearing bubble status, though it seems to have calmed recently. The long term effects of Bernanke's runaway money-printing policy will not be evident for many more months, since he's planning on continued bond repurchases (his preferred method of handing out the gelt) through June of this year.
Before that, we'll have great gnashing of teeth and showing of fangs by aroused congressmen, mostly of the Republican variety, and a renewed debate over raising the debt limit to something beyond $15 trillion. The show on the hill will no doubt be one for the ages, but in the end will likely amount to little more than theatrics, of which the congress is highly skilled. Many in the chambers of our two legislative branches could have just as easily made themselves famous in Hollywood or Broadway. Arguably, the path to stardom and the ultimate pay scale is much better in Washington, however.
One cannot argue with the stock market performance, however. Whatever your political stripes or economic theory, the gains have been potent and powerful. Whether they will last, once the Fed pulls the plug and stops its endless printing regime, is open to debate.
Dow 12,233.15, +71.52 (0.59%)
NASDAQ 2,797.05, +13.06 (0.47%)
S&P 500 1,324.57, +5.52 (0.42%)
NYSE Composite 8,379.85, +43.21 (0.52%)
As expected, advancing issues soared past decliners, 4978-2538. NASDAQ New highs: 168; new lows: 19. NYSE new highs: 266; new lows: 11. Volume was very low again.
NASDAQ Volume 1,816,377,500
NYSE Volume 4,428,776,000
Commodities piqued some interest today on both sides of the ledger. Crude oil was down 54 cents, to $86.94, continuing a trend. Gold gained $15.90, to $1,364.10, while silver headed again toward recent highs, up 93 cents, to $30.27.
Meredith Whitney has drawn the ire of legislators on Capitol Hill for her call for a Muni bond crash.
Ms. Meredith see looming shortfalls in state budgets fomenting failure in a slew of public works projects, ending in defaulted bond offerings. Others feel there's more to it - like unfunded future liabilities - and that many states face an uphill battle, though their fates could be relieved by a robust economy.
We bring you both Meredith Whitney and James Pethokoukis in the very same video:
Stocks in general have been a great place to be for the last 23 months, since the bottom on March 9 2009, with the major averages all up more than 80%.
Should one argue with such success? Maybe not. Maybe Ben Bernanke knows exactly what he's doing by continuously inflating the money supply, even though his critics argue that he's causing severe inflation and a bubble in commodities or that his practices will eventually implode in a hyperinflationary event that will kill the US dollar.
So far, the commodity trade has been profitable, and it may be nearing bubble status, though it seems to have calmed recently. The long term effects of Bernanke's runaway money-printing policy will not be evident for many more months, since he's planning on continued bond repurchases (his preferred method of handing out the gelt) through June of this year.
Before that, we'll have great gnashing of teeth and showing of fangs by aroused congressmen, mostly of the Republican variety, and a renewed debate over raising the debt limit to something beyond $15 trillion. The show on the hill will no doubt be one for the ages, but in the end will likely amount to little more than theatrics, of which the congress is highly skilled. Many in the chambers of our two legislative branches could have just as easily made themselves famous in Hollywood or Broadway. Arguably, the path to stardom and the ultimate pay scale is much better in Washington, however.
One cannot argue with the stock market performance, however. Whatever your political stripes or economic theory, the gains have been potent and powerful. Whether they will last, once the Fed pulls the plug and stops its endless printing regime, is open to debate.
Dow 12,233.15, +71.52 (0.59%)
NASDAQ 2,797.05, +13.06 (0.47%)
S&P 500 1,324.57, +5.52 (0.42%)
NYSE Composite 8,379.85, +43.21 (0.52%)
As expected, advancing issues soared past decliners, 4978-2538. NASDAQ New highs: 168; new lows: 19. NYSE new highs: 266; new lows: 11. Volume was very low again.
NASDAQ Volume 1,816,377,500
NYSE Volume 4,428,776,000
Commodities piqued some interest today on both sides of the ledger. Crude oil was down 54 cents, to $86.94, continuing a trend. Gold gained $15.90, to $1,364.10, while silver headed again toward recent highs, up 93 cents, to $30.27.
Meredith Whitney has drawn the ire of legislators on Capitol Hill for her call for a Muni bond crash.
Ms. Meredith see looming shortfalls in state budgets fomenting failure in a slew of public works projects, ending in defaulted bond offerings. Others feel there's more to it - like unfunded future liabilities - and that many states face an uphill battle, though their fates could be relieved by a robust economy.
We bring you both Meredith Whitney and James Pethokoukis in the very same video:
Label:
Meredith Whitney,
silver
Biggest Banks in Finland
The biggest banks in Finland include Pohjola, Sampo Bank, Nordea Bank Finland, Evli, among others.
Pohjola Bank plc is part of OP-Pohjola Group, which is the biggest financial services group in Finland, offering banking, investment and insurance services. At the beginning of 2010, Pohjola adopted a new CRM organization covering Banking and Non-life Insurance with the aim of seeking more
Pohjola Bank plc is part of OP-Pohjola Group, which is the biggest financial services group in Finland, offering banking, investment and insurance services. At the beginning of 2010, Pohjola adopted a new CRM organization covering Banking and Non-life Insurance with the aim of seeking more
Stock Brokers in Bulgaria
Leading stock brokerage companies in Bulgaria:
ELANA Trading
- ELANA has established one of the first licensed brokerage companies, asset management company and mutual fund, the first REIT investing in agricultural land on the Bulgarian market. It is one of the biggest non-banking financial groups in Bulgaria.
- In 2010 ELANA Trading topped the national Q2 2010 rating of brokerages prepared
ELANA Trading
- ELANA has established one of the first licensed brokerage companies, asset management company and mutual fund, the first REIT investing in agricultural land on the Bulgarian market. It is one of the biggest non-banking financial groups in Bulgaria.
- In 2010 ELANA Trading topped the national Q2 2010 rating of brokerages prepared
Monday, February 07, 2011
Top Largest Banks in Nepal
The top largest banks in Nepal are Rastriya Banijya Bank, Nepal Bank Limited, Sunrise Bank Ltd, among others.
Rastriya Banijya Bank (RBB) is fully government owned and is the largest commercial bank in Nepal, offering various banking services to a broad range of customers including banks, insurance companies, industrial trading houses, hotels, airlines, and many other sectors. RBB also works
Rastriya Banijya Bank (RBB) is fully government owned and is the largest commercial bank in Nepal, offering various banking services to a broad range of customers including banks, insurance companies, industrial trading houses, hotels, airlines, and many other sectors. RBB also works
Rationale for Optimistic Pessimism
Realists are often mistaken for pessimists, and for that reason and because my views are often considered pessimistic by the average viewer or reader, it's appropriate to couch my ideas in a more palatable form.
By and large, today's data is fully indicative of what I see wrong with the current economic condition and system, and a discussion will follow today's figures.
Dow 12,161.63, +69.48 (0.57%)
NASDAQ 2,783.99, +14.69 (0.53%)
S&P 500 1,319.05, +8.18 (0.62%)
NYSE Composite 8,336.64, +48.14 (0.58%)
As is clearly evident, the stock markets continued to rally on Monday, and advancers finished well ahead of declining issues, 4447-2097. New highs on the NASDAQ beat new lows, 259-20, and on the NYSE, 343-12. These measures are at extremes and have been for at least the past two-and-a-half months. Volume, another semi-permanent feature of the "new" market (post-Lehman crash) was back in the abyss.
NASDAQ Volume 1,782,761,625.00
NYSE Volume 4,389,051,500
Crude oil futures on the front end fell to their lowest level in a month, down $1.55, to $87.48. Gold lost 80 cents, to $1,348.20, and seems to be stuck at that $1350 level, while silver is exhibiting better fundamental value, up 28 cents, to $29.34. Silver is poised for another breakout above $30, and this time, will carry gold higher, but outperform on a relative basis.
Getting back to my optimistic pessimism, a move upward in stocks may be reason for celebration for some, especially high corporate officers and bank executives, though not so much for the average rank-and-file employee.
That's why my commentary on rising values of equities is often layered with considerable doses of cynicism. Gains in the stock market are purely paper trades, which may look great in your retirement account - for now - but we've seen this play before. The true beneficiaries of higher stock prices are speculators with more money than they need and the aforementioned CEOs and higher executives.
I wouldn't be so sour on global corporations if they paid their fair share of taxes, didn't inordinately benefit the top 1% of wealthy people in the world, weren't the worst violators of most environmental regulations and didn't exploit both their own employees and consumers in general every chance they get. Other than that, they're OK.
In reality, not all corporations are inherently evil, though they receive largesse from government that the ordinary citizen is not afforded. Some are better than others, and the world would probably be a better place if we had more Steve Jobs and Apples and less of Jamie Dimon and JP Morgan and their ilk.
So, seeing corporations report above-average earnings while 15 million Americans are without jobs really raises my ire. I like to think I stand for the good values in America, where anyone can get a decent job at a living wage, not be treated as a tax-and-wage slave and where there's some wealth equity, but I just don't see that in corporate America, where greed and outrageous salaries for those at the top of the food chain are the norm.
Besides the obvious reasons to dislike corporations and their Wall Street pimps, the current climate is one in which the entire sector is being fueled by endless money creation by the Federal Reserve, with the dough flowing right to the largest financial institutions while the middle and lower classes are left with the dribble down of inflation and stagnant wages.
The current climate of fascism, which, in its purest form, is a marriage of corporations and the government, to the detriment of the citizenry. This fascist state has been growing for the past 30 years (yes, it started with the great Ronald Reagan) and has been ramped up by both recent presidents: Bush and Obama.
Much of the corporate-government fascism is tied to the military as well, which continues to waste our resources in an ugly spending spree of destructive capitalism. The wars in Iraq and Afghanistan are abominations designed only to keep the status quo and the powerful in power. While America seems calm and secure at the present, the underlying squandering of resources through corporate subsidies and military adventurism are ultimately harmful to society at large.
So, while I may sound pessimistic concerning investments and Wall Street, the death or considerable downsizing of these institutionalized wealth destroyers would be good for the bulk of Americans. The status quo means higher and higher taxes and deficit spending to the moon, debts that can never be repaid and eventual default. Only by changing attitudes and the game itself will America return to being a beacon of hope and good for the world instead of the monolithic monstrosity of domination it has become.
In my mind - and maybe yours - America is about self-determination and freedom. Freedom of speech, of ideas, of movement. We have become so desensitized to our own plight that we allow ourselves to be stopped at roadblocks when driving our cars, patted down and molested at airports and watched by surveillance cameras as we walk our streets.
So, no, I do not wish to see more of the same corporations - hand-in-hand with government - taking more of our freedoms and stifling more innovation. I wish to see an America chock full of wishful, free thinkers, workers, doers and entrepreneurs. Small business is the real engine that runs this economy. The mega-corporations are aberrations, and bad ones. For every Wal-Mart that goes up, 100 small businesses close their doors. For every Citi, Chase or Bank of America branch, more money is stolen from local economies, never to return. For every Exxon-Mobil or Chevron fixing prices, more people cannot do what they please or spend their money on what they want or need and for every tax or government give-away, another would-be entrepreneur leaves for Asia or South America, where economies are growing, where regulations don't stifle competition and growth.
There are plenty of places to park your money for investment purposes, but Americans of this generation have not learned the hard lessons of the Great Depression: that stock certificates are only paper and only worth what "a greater fool" is willing to pay for them. We haven't learned that a home is a place to live, not a piggy bank, should cost no more than three times one's annual income, and shouldn't take 30 years to pay off a mortgage upon one.
Americans of today have been deluded by media, lied to by politicians and robbed by the fractional banking debt system of the Federal Reserve. So, yes, I revel in the failures of Wall Street and the government and their institutionalized lunacy and await their demise, even cheer it on. For once we have purged the system of the excesses, parasites and the unholy alliance of big business and big government can America regain its sense of value, fairness and equality.
America has always stood for the people first, but we've lost our way, through deceit, apathy and payoffs. I see change happening on the fringes. More people are expressing their doubts and concerns openly. Others are making material changes, not satisfied with working only to pay taxes, mortgages, food and utility bills.
Politicians always offer change for the better but haven't delivered a long time. The change surely must come from the people, by the people and for the betterment of the people. I feel we can do it, though the struggle may be long and difficult and that is why I am optimistic.
By and large, today's data is fully indicative of what I see wrong with the current economic condition and system, and a discussion will follow today's figures.
Dow 12,161.63, +69.48 (0.57%)
NASDAQ 2,783.99, +14.69 (0.53%)
S&P 500 1,319.05, +8.18 (0.62%)
NYSE Composite 8,336.64, +48.14 (0.58%)
As is clearly evident, the stock markets continued to rally on Monday, and advancers finished well ahead of declining issues, 4447-2097. New highs on the NASDAQ beat new lows, 259-20, and on the NYSE, 343-12. These measures are at extremes and have been for at least the past two-and-a-half months. Volume, another semi-permanent feature of the "new" market (post-Lehman crash) was back in the abyss.
NASDAQ Volume 1,782,761,625.00
NYSE Volume 4,389,051,500
Crude oil futures on the front end fell to their lowest level in a month, down $1.55, to $87.48. Gold lost 80 cents, to $1,348.20, and seems to be stuck at that $1350 level, while silver is exhibiting better fundamental value, up 28 cents, to $29.34. Silver is poised for another breakout above $30, and this time, will carry gold higher, but outperform on a relative basis.
Getting back to my optimistic pessimism, a move upward in stocks may be reason for celebration for some, especially high corporate officers and bank executives, though not so much for the average rank-and-file employee.
That's why my commentary on rising values of equities is often layered with considerable doses of cynicism. Gains in the stock market are purely paper trades, which may look great in your retirement account - for now - but we've seen this play before. The true beneficiaries of higher stock prices are speculators with more money than they need and the aforementioned CEOs and higher executives.
I wouldn't be so sour on global corporations if they paid their fair share of taxes, didn't inordinately benefit the top 1% of wealthy people in the world, weren't the worst violators of most environmental regulations and didn't exploit both their own employees and consumers in general every chance they get. Other than that, they're OK.
In reality, not all corporations are inherently evil, though they receive largesse from government that the ordinary citizen is not afforded. Some are better than others, and the world would probably be a better place if we had more Steve Jobs and Apples and less of Jamie Dimon and JP Morgan and their ilk.
So, seeing corporations report above-average earnings while 15 million Americans are without jobs really raises my ire. I like to think I stand for the good values in America, where anyone can get a decent job at a living wage, not be treated as a tax-and-wage slave and where there's some wealth equity, but I just don't see that in corporate America, where greed and outrageous salaries for those at the top of the food chain are the norm.
Besides the obvious reasons to dislike corporations and their Wall Street pimps, the current climate is one in which the entire sector is being fueled by endless money creation by the Federal Reserve, with the dough flowing right to the largest financial institutions while the middle and lower classes are left with the dribble down of inflation and stagnant wages.
The current climate of fascism, which, in its purest form, is a marriage of corporations and the government, to the detriment of the citizenry. This fascist state has been growing for the past 30 years (yes, it started with the great Ronald Reagan) and has been ramped up by both recent presidents: Bush and Obama.
Much of the corporate-government fascism is tied to the military as well, which continues to waste our resources in an ugly spending spree of destructive capitalism. The wars in Iraq and Afghanistan are abominations designed only to keep the status quo and the powerful in power. While America seems calm and secure at the present, the underlying squandering of resources through corporate subsidies and military adventurism are ultimately harmful to society at large.
So, while I may sound pessimistic concerning investments and Wall Street, the death or considerable downsizing of these institutionalized wealth destroyers would be good for the bulk of Americans. The status quo means higher and higher taxes and deficit spending to the moon, debts that can never be repaid and eventual default. Only by changing attitudes and the game itself will America return to being a beacon of hope and good for the world instead of the monolithic monstrosity of domination it has become.
In my mind - and maybe yours - America is about self-determination and freedom. Freedom of speech, of ideas, of movement. We have become so desensitized to our own plight that we allow ourselves to be stopped at roadblocks when driving our cars, patted down and molested at airports and watched by surveillance cameras as we walk our streets.
So, no, I do not wish to see more of the same corporations - hand-in-hand with government - taking more of our freedoms and stifling more innovation. I wish to see an America chock full of wishful, free thinkers, workers, doers and entrepreneurs. Small business is the real engine that runs this economy. The mega-corporations are aberrations, and bad ones. For every Wal-Mart that goes up, 100 small businesses close their doors. For every Citi, Chase or Bank of America branch, more money is stolen from local economies, never to return. For every Exxon-Mobil or Chevron fixing prices, more people cannot do what they please or spend their money on what they want or need and for every tax or government give-away, another would-be entrepreneur leaves for Asia or South America, where economies are growing, where regulations don't stifle competition and growth.
There are plenty of places to park your money for investment purposes, but Americans of this generation have not learned the hard lessons of the Great Depression: that stock certificates are only paper and only worth what "a greater fool" is willing to pay for them. We haven't learned that a home is a place to live, not a piggy bank, should cost no more than three times one's annual income, and shouldn't take 30 years to pay off a mortgage upon one.
Americans of today have been deluded by media, lied to by politicians and robbed by the fractional banking debt system of the Federal Reserve. So, yes, I revel in the failures of Wall Street and the government and their institutionalized lunacy and await their demise, even cheer it on. For once we have purged the system of the excesses, parasites and the unholy alliance of big business and big government can America regain its sense of value, fairness and equality.
America has always stood for the people first, but we've lost our way, through deceit, apathy and payoffs. I see change happening on the fringes. More people are expressing their doubts and concerns openly. Others are making material changes, not satisfied with working only to pay taxes, mortgages, food and utility bills.
Politicians always offer change for the better but haven't delivered a long time. The change surely must come from the people, by the people and for the betterment of the people. I feel we can do it, though the struggle may be long and difficult and that is why I am optimistic.
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