Topic: Just commodities

[Libertas]

Oh, this is a good read!

http://www.zerohedge.com/news/guest-post-what-gold-supply-crunch

[Libertas]

ZeroHedge via GoldCore - 2012 Outlook For Gold – Positive Fundamentals Remain And Crucial Diversification
http://www.zerohedge.com/news/2012-outlook-gold-%E2%80%93-positive-fundamentals-remain-and-crucial-diversification

 

[charlesoakwood]

History as a gauge, within two years there will be a 20% increase.
 

[Libertas]

If more accelerant is applied, that could be a very modest estimate.

[charlesoakwood]

Ann has several more posts up regarding MF Global and CME's potential
collapse, and of course the inferred domino affect.

http://www.barnhardt.biz/
[blockquote] So, if Mr. Koutoulas is accurately recounting the words of Terry Duffy, and I have no reason to think that he isn't, I was exactly right in my letter. The CME has an $8 billion default slush fund which could have made the MF Global situation go away INSTANTLY. The CME could have stepped in, essentially taken over the firm, squared the books, and then sold the firm intact with customer integrity completely maintained. They have done it before. Many times. In fact, that is the base, root function of the CME. It is also their moral and legal obligation because the CME was the entity that was charged with auditing oversight of MF Global. MF Global was under the regulatory auspices of the CME on the private side, and the CFTC on the government side. The CME was liable and thus failed, and failed CRIMINALLY in their fiduciary duty.

But why? They had the money ready to go in a reserve slush fund for a situation EXACTLY like this. Why didn't they do it? Because they KNEW and they KNOW that MF Global is, as I said, the mere tip of the iceberg. ...

& scrolling down to:
On Cascading Counterparty Risk & Economic Treason
[/blockquote]


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Dawn comes a little light. 
I just renewed my electric contract.  Here, you may enter into contract with one of several
providers.  The contracts offered (there are signing incentives such as frequent flyer credit
or cash cards etc) are mostly from month to month up to 18 months maybe more I didn't look. 
So I made my choice and have locked in my electricity rate for the next year.  If what she is
saying comes to pass my electric rate will not only increase due to risk and extra operating
costs, it will vary month to month.

[Libertas]

Ann is dead on right.  When the integrity of the system begins to unravel the unwinding could be catastrophic.

There has never been a time in my lifetime where we face so much peril on so many fronts.

Weathering the storm may take on a new definition for this generation.

[charlesoakwood]

She's got more gasoline today -

Well, as we all knew and expected, the Squid has its rows of suckers and beaked gaping maw all over the MF Global collapse. It turns out that on October 27th Goldman Sachs bought hundreds of millions of dollars in securities from the imploding MF Global. I'm shocked. Are you shocked, because I'm shocked. I guess Lloyd Blankfein must have just FORGOTTEN TO MENTION IT to anyone. I mean, it's not like $1.2 billion in "missing" customer seg funds, and a multi-hundred million dollar firesale of paper the day before the customer funds went "missing" is any big deal or could possibly be connected or relevant or anything. Nah.

JP Morgan held the paper, and apparently, if I'm reading this right, the securities changed hands and went to Goldman, but the payment never made it into the MF estate. JP Morgan just "took care of it", or something. In other words, it's just a big, incestuous orgy of cephalopod-human psychopathy.

Goldman Sachs article  

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[Libertas]

Yup, birds of a feather...

Oh hey, lookie here, the Sith Lord himself was in on this scam!

"The Wall Street Journal previously reported that George Soros' fund was a buyer of securities sold by MF Global, scooping-up some of its European sovereign debt at a deep discount. Panic among investors and clients about MF Global's $6.3 billion bet on European sovereign bonds led to its demise."

 

[charlesoakwood]

Warren Pollock & Ann in Conversation
Posted by Ann Barnhardt - January 5, AD 2012 2:47 PM MST
This is a little more technical and "wonkish", but I think both Warren & I did a good job of explaining things and keeping it accessible for the Average Joe. I would also encourage those who have the ability to mirror this YouTube to go ahead and do so, as we get into some pretty hard-core territory that "the powers that be" definitely don't want people to be aware of much less understand.

 [blockquote] Ann Barnhardt and I (Warren Pollock) have an open conversation organized to provide background to this crisis, the setting of legal precedent, netting, settlement, and future trends including a potential bank holiday. We talk about MF Global as it applies to savings and commercial banking, brokerage, insurance, and commodities. We talk about numeric impossibility of solving the problem, incest between government and finance, having the victim of the crisis pay rather than the fraudster. We explain how the MF Global bankruptcy process will define how customer funds will be treated in a bank holiday. We talk about the idea of having an honest bank holiday to root out fraud vs an economic crisis which plays to looting and criminal activity of vested interest.[/blockquote]   

Ann Barnhardt & Warren Pollock Have an Open Conversation

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[Libertas]

"looting and criminal activity of vested interest"

Old habits die hard...especially when they go unpunished and uncorrected.

[Libertas]

Whoa, OJ going nuts!

http://finviz.com/futures_charts.ashx?t=JO

Brazilian fungus causing fear to run up prices.

http://online.wsj.com/article/SB10001424052970204124204577152612500414628.html?mod=WSJ_hp_LEFTWhatsNewsCollection

But like every commodity, just remember what our government says, inflation is tamed, there is no inflation, keep saying that!  Hummmm.....Hummmmm...there is no inflation, there is no inflation...

[Libertas]

Survey says...Gold to hit $2k/oz by early next year.

http://www.zerohedge.com/news/global-gold-coin-bar-demand-surges-2011-thomson-reuters-gfms-annual-gold-survey

Not an overly bold prediction.  After the great stall-out on budget talks and Stymie bending feckless Repub's over for more on the credit card limit, and Turbo-Timmy and Ben Bernanke print money hand over fist with QE3...well, we could hit $2k by the fall!

Plus, if more buying pressure kicks in...another impetus to higher prices.

This is going to be a fun year!

Any re-pegging of currencies via PM's to resolve debt issues, well, wars could start over that crap if they try to skim peoples wealth away!

[charlesoakwood]

I'm beginning to think it's fixed just as the rest,
adjusted for inflation it should be between 18 and 20 right now.

[Libertas]

Well, after brow-beating people with margin hits, it should spring back, even stronger, since there are few left to beat anything out of!

Paper holdings can be hammered, physical possession cannot be denied, and hiding the inflation cannot last.

[Libertas]

OJ is going wild again!

No, not that throat-slashing maniac, the real OJ!

http://www.zerohedge.com/news/machines-are-back-randolph-and-mortimer-stage-epic-comeback-oj-trading-all-time-high

Oh my God, I hope this doesn't cascade into a run on vodka!   

[charlesoakwood]

Billy Ray Valentine learns commodities

[Weisshaupt]

I have always liked Trading Places. Of course, saying that now is probably racist, even though the movie carries every bit of Liberal theory including Affirmative action, evil rich, etc.

The exchanges are marketplaces with armed guards around them. If you want access, you have to pay the price of admission, no matter what you do once you are in. In an internet world, the costs of particpation have come down via E-Trade etc, but ultimately a market is a service like anything else - they assemble your potential buyers and sellers in one place, and you pay for access to them.



 

[ToddF]

I admit, I've been thinking of Trading Places, also, since the run on OJ began.  

[charlesoakwood]

[blockquote] FIA Establishes Task Force to Respond to Issues Related To MF Global

The Futures Industry Association says it has established a special committee to address issues related to the bankruptcy of MF Global. The Futures Market Financial Integrity Task Force will develop and recommend measures that can be implemented through both industry best practice and regulatory change. Also, the FIA says it intends to work with end-users and other market participants to examine the adequacy of current models to protect customer funds. “Although we still do not know for certain what caused the significant shortfall in customer segregated funds required to be held at MF Global, any loss of customer assets is entirely unacceptable and the reasons for the deficiency need to be identified,” says Michael Dawley, chairman of the FIA and managing director at Goldman Sachs & Co.[/blockquote]

Isn't this a Fox guarding the hen house story?  Or, tell me what I'm smelling isn't chickensh*t.

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[Pandora]

Hoo boy.  Newp, CO, your smeller is working just fine.