The "up-to-the-minute Market Data" thread

Consumers are back on their credit card kick. Two years ago, they were using debit cards more than credit cards, but that trend has flipped, according to First Data

The more things change . . .

[takes big piece of bread and shoves it in pie hole to ensure nothing really really really nasty comes out on account of the SHEER STUPIDITY of humanity who can't seem to learn much at all from the fact the economic world is crumbling around them]

People are idiots... surprise surprise. Well not really idiots, but more like in denial...

Breaking: EU sources tell it's likely new EU treaty must be agreed by all 27 countries, not just 17 eurozone nations

Oooops.

Another Currency Runs Out: BOE Introduces "Collateral Term Repo Facility" To Deal With Sterling "Shortages"

When yet another central bank, in this case the BOE, proactively uses the word "shock" in relation to funding deficiency (in this case the GBP) if even with the phrases "contingency" and "there is currently no shortage" a brief week after the global central bank cartel did the same to assure the world of USD funding availability, it may be time to wonder i) just how bad is the global FX crunch in any currency (EUR most certainly included - see near record ECB deposit facility usage), ii) just how broken is the shadow banking system - as a reminder with Lehman it was money markets (a major component of shadow liquidity), now it is repo (smaller, but still critical component of shadow banking) that is failing and iii) when will this crisis escalate to the next logical step?

Let's Make The Clawback Risk REAL

Recently Bank of America transferred a bunch of derivatives into their banking arm. "A bunch" means somewhere around $80 trillion worth.

Now pay very careful attention, because part of the bankruptcy "reform" law in 2005 placed derivative claims in front of depositors in a business failure - including a bank failure.

If a major bank blows up this very same claim, supported in existing Bankruptcy Law with the changes signed by George Bush in 2005, will be used to steal the entirety of your bank account, and if you detect the impending blowup shortly before it happens -- say, 90 days before -- you're still exposed to the risk through clawback!

Don't run any crap about FDIC insurance in this sort of event either -- in the singular case of Bank of America we're talking about $77 trillion in face value of derivatives. While "notional" values are wildly beyond what anyone would have to pay (as that figure assumes the reference all goes to a literal value of zero) the fact remains that with even a 5% loss the amount of money required would be roughly equal to the entire US Federal Budget, which the FDIC clearly does not have -- nor could it acquire.

A cascade failure of several large banks would easily result in loss claims that would exceed the entire US GDP; for obvious reasons virtually none of that would actually be paid or recovered and in the case of you, the average person, your reasonable expectation of recovery in such an event is zero.

Anyway read the whole thing... it will scare you to death.

Basically if BAC (or any big bank trading in derivatives) blows up, paying the derivatives will be done BEFORE paying you back your money. And since there's way more derivatives than the bank has assets, you will NOT be paid your money. EVER.

But even worse than that... let's say you pulled all your money from your bank account today. And the bank blows up in 2-3 months. Well guess what, whoever BAC owed derivatives to will come after you for the money you withdrew. That's right. And I'm not sure at this point, but if you don't have it anymore, they might be able to come after anything else you've got... your house, your car... and if you have it and refuse to pay it back, you will go to jail.

I think I'll do a thread about this...

HOly SH!T.

YOu can see exaxctly what Bank of America is doing . . . it's like they're saying OK . . . If you won't bail us out, we're going to make sure our cronies who bought into our ass-sucking scam get paid and the guy off the street can go to hell. That way, the government is almost blackmailed or at least extorted into bailing out those fat cats.

Am I reading that correctly?

reply to post by Vitchilo

A cascade failure of several large banks would easily result in loss claims that would exceed the entire US GDP; for obvious reasons virtually none of that would actually be paid or recovered and in the case of you, the average person, your reasonable expectation of recovery in such an event is zero.

That right there is complete meltdown! And if they come after folks for withdrawing their own money (perceived) after derivatives failure I suspect their would be violent resistance. However I doubt they would come after anyone as once it happened the whole banking schemes and cartel will have collapsed completely at that point with that level of failure.

Ex clusive Interview – Jim Willie: “The Public Will Not Wake Up Until At Least 1 Million Private Accounts Are Stolen”

As we began discussing the MF Global collapse, Jim articulated his belief in a financial slight-of hand originating from “notice to deliver” requests for gold and silver submitted through MF before the collapse, which had the potential to cause a Comex delivery default. “Comex was ready to default on gold and silver in November, and rather than honor the notices for delivery, JP Morgan stole the funds in the accounts that were calling for delivery…notices for delivery were replaced by stolen accounts.” The evidence of this according to Jim is that, “JPM increased the amount of silver in their registered vaults by precisely the amount that was suppose to be delivered…JPM effectively averted both a Comex default and a European Sovereign Debt implosion.”

No Comment...

reply to post by Shenon


WOW, we are getting so close to the edge but some how not falling over. how do these guys keep all smoke and mirrors going?

Global nod to new bailout

www.marketwatch.com...#

Ahahahah! This is fantastic. Global consensus for global bailout. This is really the Age of Magic and Wonders.

Asia,and Europe stocks and U.S. futures rise on reports of Continent doubling bailout fund.

They rise double? Double triple inflation?

Europe discusses doubling bailout fund: FT

Discussing possibility

SAN FRANCISCO (MarketWatch) -- European officials are discussing the possibility of significantly boosting the region's ability to fight the debt crisis by operating two bailout funds, the Financial Times reported Tuesday on its website. The talks are focusing on the possibility of allowing the euro-zone's 440 billion euros ($590 billion) bailout fund to remain in operation when a new €500 billion facility comes into force in 2012, the newspaper said.

This is really fantastic esoteric experience. They just have to think intensively and it will come true

I'm not very versed in stocks and market etc, but I have to admit since this week I have been reading a lot of posts in this forum and have officially learned enough to scare the *you know what* out of me!!!!!

What do we slaves do when hyperinflation happens. It will right? Stock up on food? Stock up on ammo?? What? What can I do to make sure my family survives the global economic collapse? Is time already run out? Is it too late? Do I just cross my fingers and pray that I have prepared enough??? OMG this is so crazy!!!!!!!! People have no idea do they!

Originally posted by Starwise
I'm not very versed in stocks and market etc, but I have to admit since this week I have been reading a lot of posts in this forum and have officially learned enough to scare the *you know what* out of me!!!!!

What do we slaves do when hyperinflation happens. It will right? Stock up on food? Stock up on ammo?? What? What can I do to make sure my family survives the global economic collapse? Is time already run out? Is it too late? Do I just cross my fingers and pray that I have prepared enough??? OMG this is so crazy!!!!!!!! People have no idea do they!

That seems to be the billion dollar question . . . if'n you pardon the pun.

Nobody really knows what will happen or when it will happen although there is a growing sentiment out there that 'if' is no longer in the equation.

I've rid myself of all debt possible, and have been stashing canned and dry goods for a while now. I've got me a generalor and some fuel stored up that I make sure I'm rotating. I've got nothing left in the 'bank' but have a bit of a stash at home . . . not that paper money's going to be worth a tinker's damn if it all comes crumbling down. And, apart from the anonymity of being on here, nobody knows of my 'stash'. Probably a good thing because a lion's share of the populace hasn't a clue what could transpire over the next short while.

There's gonna be a lot of hungry, pathetic looking folks if all this doom and gloom comes to fruition.

I think the best you can do is be prepared to roll with the punches.

reply to post by Starwise


Depends on where you live and what to expect in that particular Country. But you might like to look at the Survival Forum to get started,though i don´t know how much Time we have left until everything goes to hell.

Those Idiots are trying everything in their (limited) Power to delay the invitable,even though they make the Situation and the Crash even worse by doing that.

But from what has transpired lately,with the desperation for everyone to see,i don´t think we have to wait much longer. If they resort to outright Printing (which is the only "Solution" besides a chaotic breakup and resulting Chaos in the System) then we might have a little more Time,but this will led to Hyperinflation,which will crash the System in the End anyway.

Though there is the Threat of another World War around the Corner (since China´s Economy is on the verge of Collaps right now,something like that would help them too,despite what many here think),so there is something else to consider.


Anyway,as i said,it depends on where you live. As you can see in my Profile,i´m from Germany. The only thing i could do was to stockpile Food,some "legal" Weapons (Knifes,Air Weapons) and other neccesary Items to get by without Energy for awhile.

The thing is,i don´t really know what my Goverment is doing right now. There are signs and (unofficial) reports that they prepared for a Currency-Reform already back in 2010.The Way our Goverment handles this EU-Crisis is as if they want to be thrown out of the EU by the others (we can´t leave ourselves since the EU/Euro was forced on us as a requirement for the 1990 reunification of Germany). And lets not forget that Merkel is beeing compared to Hitler because of her Actions...beeing controlled by the Germans...noone in Europe really wants that (again). And that is probably why she does it...

And lets not forget the Reform to a volunteer army which was made-up and implemented in the last 2 Years...you know what happens if an Economy Collapses,especially if its widespread: Lots of unrest,unemployed and a possible Large Scale War...



Um...yeah,anyway,got a little carried away...where was i?

Ah yes,just do what you can and what your Country allows you to do without raising suspicion. The best thing you can do,is to inform yourself and continue to do so. I can´t really tell whats going to happen,noone probably can,since the World is much more different that the last Time something like that happend (though on a smaller scale,today everything is bigger and more connected,which could make it worse since it affects everyone this Time)




....I´ll stop now

Originally posted by Starwise
I'm not very versed in stocks and market etc, but I have to admit since this week I have been reading a lot of posts in this forum and have officially learned enough to scare the *you know what* out of me!!!!!

What do we slaves do when hyperinflation happens. It will right? Stock up on food? Stock up on ammo?? What? What can I do to make sure my family survives the global economic collapse? Is time already run out? Is it too late? Do I just cross my fingers and pray that I have prepared enough??? OMG this is so crazy!!!!!!!! People have no idea do they!

Like others said, its a matter of when the SHTF, not if. You just need to look around and think "cave man" i guess you can say. People will walk away from there jobs to be with there familys in the end. so no power, no running water, and toilet water will start to back up after some time. Collapse and the dark ages could last months, it could last years. So you will need a plan to live off the land in the long run. If your in the city, its a death trap. you really need to get in the mindset and just think. It takes a long time to come up with a plan.

reply to post by camaro68ss


Yeah I live in the country, thankfully and have been preparing/stocking up since January. Its just that there is still so much on my: to get and do lists!!!!!

Ive been thinking about cashing out my 401k and getting silver and other supplies. My questions though is if by me pulling out, would it be subjected to the 90 day clawback issue?? Its stocks right? So it shouldn't matter...

The problems I feel will happen when everyone wakes up and realizes that the happy holiday music is a distraction to check mate....

reply to post by Starwise


If you get your dough out, you've at least got it in hand and they've gotta find you. In reality, if everything comes crumblling down, they're probably not going to spend a while lot of time chasing down the little numbers and even if they were, how long will the infrastructure support the usual telephone, email, letter etc. forms of communication to try and get the dough back from you.

And even then, it's a lot easier to tell them to go pound their head's against brick when you've got the cash in hand as opposed to your 401 K being diminished to a 2.05Z when the financial system implodes.

Originally posted by Starwise
reply to post by camaro68ss

 

Yeah I live in the country, thankfully and have been preparing/stocking up since January. Its just that there is still so much on my: to get and do lists!!!!!

Ive been thinking about cashing out my 401k and getting silver and other supplies. My questions though is if by me pulling out, would it be subjected to the 90 day clawback issue?? Its stocks right? So it shouldn't matter...

The problems I feel will happen when everyone wakes up and realizes that the happy holiday music is a distraction to check mate....

no your good on the claw back thing and i would take my money out of the casino if i was you. I would but im still at my job and they wont let me unless i lose my job :-( other wise i would be cashed out and all ready for the SHTF.

thats good your in the county, your already 100% better off then the rest.

Once the masses find out there screwed, thats when the collapse will start.

As far as currency in a crashed system, canned food is good, cigaretts (even if you don't smoke)
fuel, would be good, genorators ( solar cells brilliant) tradeable goods.

reply to post by camaro68ss


SHTF had already happened. This is the aftermath. It is a slow going down, nothing spectacular. It hits individuals and we are not aware of it but through the medium of statistics, by which we are being bombarded, and those are only numbers - casualties.

But if Newt becomes Potus, you'll know it's the final chapter

I'm no market guru, but I'm thinking today will be very telling in terms of those in-the-know.

If the market starts tanking off the hop, they know there won't be any 'deal' coming out of that mess and collapse of the economic union will be a pretty safe bet.

If it stays relatively level, it means the Euro-schmuros will end their talks saying they're going to play the 'wait a few more weeks' card . . . again . . . and the uncertainty will continue. My guess is that it will only be a stalling tactic until January when they will officially announce there's no deal thus accellerating the collapse.

If we get a surge, that means Geitner filled enough pockets with loot to make things look warm and fuzzy until those bills come due in the form of $397-a-loaf bread and a whack more pretend interest revenue for the central bankster cabal.

It's a hard read at this point, but the futures are down 45 points, which suggests things aren't going swimmingly in the tete-a-tete.

Just saw the wierdest thing on CNN's 'money' page . . . it had one of those red 'breaking news' headlines across the top of the page that said Corzine tells Congress he doesn't know where the money went - apologizes for firm's performance.

I hit it, but it wasn't linked to anything so I went over to Drudge to see if they had anything.

Nada.

Went back to the CNN 'money' page and it was gone.

What the hell . . . is there some sort of scripted bullcrap Corzine and Congress cover for today's supposed appearance today to hide the truth . . .

I'm not one of the tinfoil hat crew, but that was too wierd.

ADDED

This story now appears on that page . . . What the hell is 'prepared testimony'

Seriously . . . prepared testimony?????

Why didn't they just save a whack of time and let him do a press release saying I'm sorry, the dough is gone and that's just the way it is. Thank you for letting me do this in a release and acknowledging that despite both of us knowing what really happened, there's no reason for the public to find out. Now please send that bailout cheque ASAP because I'm down to my last $3.75 billion.

As an aside . . . how did CNN originally figure 'prepared testimony' to be 'breaking news'. More like breaking wind.

Go figure.

reply to post by GoalPoster


money.cnn.com...

Corzine: 'I don't know where the money is'

Jon Corzine, the former chief executive officer of the bankrupt broker MF Global, apologized for his firm's failure Thursday and told a House committee that he doesn't know where the missing money went.

"I simply do not know where the money is, or why the accounts have not been reconciled to date," said Corzine, in prepared testimony to the House Agriculture Committee on Thursday.

He is lying.

You gotta go and prepare yourself

money.cnn.com...

Poppy Harlow crushes car with tank!