Investment/Trends

The S&P’s Tragic Rise Will Continue

"Equities resumed their run to higher highs and higher lows. This rise has a tragic undertone for its substance is damaging the economy. One must make hay while the sun shines. Let's examine what to expect and how to position yourself for maximum gains and protection in the mid to long-term. Turbulence in the short term will pass for the markets but socio-economic stresses require that one's holding be placed in the strongest castles. Let us then consider a three-part investing strategy that should enable most people to ride the rip tides of these markets and crazed policies and anchor themselves to companies adapted to the new America, and world that is taking shape." Continue reading →

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Buried in Fine Print: $57B of FHA Loans Big Banks May Have to Eat

"The nation's four largest banks are holding $57 billion of seriously delinquent loans that they've been slow to move into foreclosure over concerns that the Federal Housing Administration, the government mortgage insurer, will refuse to cover the losses and hit them with damages, according to industry sources. The banks — Bank of America (BAC), Citigroup (NYSE:C), JPMorgan Chase (JPM), and Wells Fargo (WFC) — have assured investors in the footnotes of quarterly filings that the loans are government-insured and therefore pose no threat to their bottom lines, even if they end up in foreclosure." Continue reading →

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Janet Yellen: An Insane Choice for a Debt-Crazed Economy

"I have no idea if she is competent. Competence in an economist is hard to measure, like knowing whether your auto mechanic is really any good. As for vital attributes, the Times did get one right. 'She represents continuity,' the Times wrote. That pretty much says it all. Janet Yellen is establishment all the way. She won’t wobble the canoe. She’s not a Paul Volcker coming in to break things up. And that’s all you need to know about Yellen. She’s got the same playbook in her pocket as Bernanke. If anything, there are hints she’ll be even more aggressive in printing money than Bernanke." Continue reading →

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HSBC USA Joins Chase in Limiting International Money Transfers

"Yesterday, I reported that JPMorganChase will start to limit cash withdrawals and ban certain business customers from sending international wire transfers, from November 17 onward. Now, word comes via Simon Black that starting October 20th, HSBC USA's Premier clients will have to wait a minimum of five days before transferring funds to their OWN international accounts! This is not good. The cover story for these measures is to 'protect' banks and customers from theft. In reality, this is a major move toward limiting movement of capital overseas." Continue reading →

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Creeping Capital Controls At JPMorgan Chase?

"For whatever reason, JPM has decided that after November 17, 2013, it will halt the use of international wire transfers (saying it would "cancel any international wire transfers, including recurring ones"), but more importantly, limits the cash activity in associated business accounts to only $50,000 per statement cycle. "Cash activity is the combined total of cash deposits made at branches, night drops and ATMs and cash withdrawals made at branches and ATMs." Why? "These changes will help us more effectively manage the risks involved with these types of transactions." So... JPM is now engaged in the risk-management of ATM withdrawals?" Continue reading →

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The Biggest Scam In The History Of Mankind (Debt Ceiling Truth)

"You are about to learn one of the biggest secrets in the history of the world...it's a secret that has huge effects for everyone who lives on this planet. Most people can feel deep down that something isn't quite right with the world economy, but few know what it is. Gone are the days where a family can survive on just one paycheck...every day it seems that things are more and more out of control, yet only one in a million understand why. You are about to discover the system that is ultimately responsible for most of the inequality in our world today. The powers that be DO NOT want you to know about this, as this system is what has kept them at the top of the financial food-chain." Continue reading →

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China’s State Press Calls for ‘Building a de-Americanized World’

"Key among its proposals: the creation of a new international reserve currency to replace the present reliance on U.S. dollars, a necessary step to prevent American bumbling from further afflicting the world, the commentary suggests. 'The cyclical stagnation in Washington for a viable bipartisan solution over a federal budget and an approval for raising the debt ceiling has again left many nations’ tremendous dollar assets in jeopardy and the international community highly agonized,' says Xinhua. 'The world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites,' it adds. It’s not a new refrain." Continue reading →

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Bill Bonner: The Fed Chief America Deserves

"If it were that easy to create real wealth, of course, everybody would be doing it. Real wealth – like everything else that is precious – takes time, patience, and forbearance. You don’t get it by using cheap tricks and economic gimmickry. Instead, you have to pay for it. That is, you have to give something up in the present to gain more prosperity in the future. The feds’ programs promise the opposite: Americans will get something now… and pay (dearly) later. Eventually – sooner or later – Mr. Market will come down hard on investors’ heads, like a murderer armed with a claw hammer." Continue reading →

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The Most Qualified Fed Chair Since Arthur Burns

"It is not possible for any one human to have the knowledge needed to accomplish the goals established for the Federal Reserve. No person can assure Mr. Wolfers’ daughter her economic future will be bright. Ironically, that might only happen if Yellen took the job but then stepped aside to let the market determine interest rates and the flow of capital. Given Yellen’s views and experience, best case, the professor’s daughter can look forward to a world of no-growth punctuated with the occasional banking crisis. In the worst case, Ms. Yellen will conjure up the memory of Arthur Burns." Continue reading →

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Ron Paul: New Fed Boss Same as the Old Boss

"The news that Janet Yellen was nominated to become the next Chairman of the Board of Governors of the Federal Reserve System was greeted with joy by financial markets and the financial press. Wall Street saw Yellen's nomination as a harbinger of continued easy money. Contrast this with the hand-wringing that took place when Larry Summers' name was still in the running. Pundits worried that Summers would be too cautious, too hawkish on inflation, or too close to big banks. The reality is that there wouldn't have been a dime's worth of difference between Yellen's and Summers' monetary policy. No matter who is at the top, the conduct of monetary policy will be largely unchanged." Continue reading →

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