Hope you enjoy the new site.
rno
Hope you enjoy the new site.
rno
LOL! I’ve often suspected as much! 🙂
Yawn. More fiat backed by nothing is doomed to failure IMHO.
Submitted by Tyler Durden on 07/15/2014 14:38 -0400
As we suggested last night, the anti-dollar alliance among the BRICS has successfully created a so-called “mini-IMF” since the BRICS are clearly furious with the IMF as it stands currently: this is what the world’s developing nations just said on this topic “We remain disappointed and seriously concerned with the current non-implementation of the 2010 International Monetary Fund (IMF) reforms, which negatively impacts on the IMF’s legitimacy, credibility and effectiveness.”
as it should have after such a dismal report. INTC reported blowout earnings mostly the result of wonderful stock buybacks. This market is going to look really ugly when these companies resume issuing more shares. Just sayin’.
but be very careful about who you claim to be your friends, unfortunately all us diehards know Wanka all too well. 🙂
Glad to have you with us despite your association with Wanka! 🙂
Just kidding of course, Wanka is da man around these parts. 🙂
BRICS Announce $100 Billion Reserve To Bypass Fed, Developed World Central Banks
Tyler Durden’s pictureSubmitted by Tyler Durden on 07/15/2014 14:38 -0400
As we suggested last night, the anti-dollar alliance among the BRICS has successfully created a so-called “mini-IMF” since the BRICS are clearly furious with the IMF as it stands currently: this is what the world’s developing nations just said on this topic “We remain disappointed and seriously concerned with the current non-implementation of the 2010 International Monetary Fund (IMF) reforms, which negatively impacts on the IMF’s legitimacy, credibility and effectiveness.”
As Putin explains, this is part of “a system of measures that would help prevent the harassment of countries that do not agree with some foreign policy decisions made by the United States and their allies.” Initial capital for the BRICS Bank will be $50 Billion – paid in equal share among the 5 members (with a contingent reserve up to $100 Billion) and will see India as the first President. The BRICS Bank will be based in Shanghai and chaired by Russia. Simply put, as Sovereign Man’s Simon Black warns, “when you see this happen, you’ll know it’s game over for the dollar…. I give it 2-3 years.”
•BRICS MINISTERS SIGN DEVELOPMENT BANK AGREEMENT
•INITIAL SUBSCRIBED CAPITAL OF BRICS BANK IS $50 BLN: STATEMENT
A quick take on existing monetary policy.
•MONETARY POLICY MUST BE CAREFULLY CALIBRATED: BRICS STATEMENT
The punchline, however, is that using bilateral swaps, the BRICS are effectively disintermediating themselves from a Fed and other “developed world” central-bank dominated world and will provide their own funding.
We are pleased to announce the signing of the Treaty for the establishment of the BRICS Contingent Reserve Arrangement (CRA) with an initial size of US$ 100 billion. This arrangement will have a positive precautionary effect, help countries forestall short-term liquidity pressures, promote further BRICS cooperation, strengthen the global financial safety net and complement existing international arrangements…. The Agreement is a framework for the provision of liquidity through currency swaps in response to actual or potential short-term balance of payments pressures.
Incidentally, the role of the dollar in such a world is, well, nil.
Imagine what would happen to a pm stock if they missed on revenues and EPS?
Crocodile Gold reported increased production and was slammed for a 15% loss. Unbelievable.
Any friend of Wanka’s is a friend of mine.
welcome, if you’re the same guy I remember you had some good thoughts on pm’s. I wish I could remember the forum I used to post on. Easily 7-8 yrs ago. Were you ever from the CA. area?
Summary: A fresh set of documents leaked by Edward Snowden show how the UK intelligence agency can manipulate online polls and debates, spread messages, snoop on YouTube and track Facebook users.
GCHQ has developed a toolkit of software programs used to manipulate online traffic, infiltrate users’ computers and spread select messages across social media sites including Facebook and YouTube.
The UK spy agency’s dark arts were revealed in documents first published by The Intercept, and each piece of software is described in a wiki document written up by GCHQ’s Joint Threat Research Intelligence Group (JTRIG). The document, which reads like a software inventory, calls the tools part of the agency’s “weaponised capability.”
Some of the most interesting capabilities of the tools on the list include the ability to seed the web with false information — such as tweaking the results of online polls — inflating pageview counts, censoring video content deemed “extremist” and the use of psychological manipulation on targets — something similar to a research projectconducted with Facebook’s approval, which resulted in heavy criticism and outrage levied at the social media site.
A number of interesting tools and their short descriptions are below:
The list, dated from 2012, says that most of the tools are “fully operational, tested and reliable,” and adds: “Don’t treat this like a catalogue. If you don’t see it here, it doesn’t mean we can’t build it.”
“We only advertise tools here that are either ready to fire or very close to being ready,” the document notes.
The release of these documents comes in the same week that the UK intelligence agency’s spying activities are being investigated by surveillance watchdog the Investigatory Powers Tribunal (IPT). Civil liberty groups set a legal challenge against the GCHQ in order to question the legal standing of schemes such as Tempora — a project revealed in the NSA scandal that showed the agency placed data interceptors on fiber-optic cables that carry Internet traffic to and from the UK.
BTW – I used to post on another board years ago and there was a guy with the “Dutch” handle. I think he was from CA.
Are you the same guy?
THE FOUNDATION
“Let the American youth never forget, that they possess a noble inheritance, bought by the toils, and sufferings, and blood of their ancestors; and capacity, if wisely improved, and faithfully guarded, of transmitting to their latest posterity all the substantial blessings of life, the peaceful enjoyment of liberty, property, religion, and independence.” –Joseph Story, Commentaries on the Constitution, 1833
wj
We hit the downside rail on you 60 minute HUI chart. So far we’ve held but I’m not sure it will hold if we hit it again. 🙁
Seems like pm’s pretty much always have 3 waterfall declines. It could be worse I guess, we could be in oil.
The weakness in commodities is a little disconcerting.