Archive for the 'Economy' Category
Big Traders Dive Into Dark Pools
October 4th, 2007It’s absolutely fascinating that these institutional players have had to form private networks to run their rackets. How this is allowed is a mystery to me. It makes no sense from a simple supply and demand standpoint! You know, the basic principal of a “free market.” These guys are essentially able to hide their real […]
Lehman Brothers Will Face Former Employees in Court Over Allegations of Fraudulent Mortgage Lending Practices
October 4th, 2007Via: Press Release: BNC Mortgage, Inc. was in the business of selling sub-prime home loans to buyers who could not financially qualify for conventional loans. Last month, Lehman Brothers was forced to shut down BNC Mortgage, Inc., and its sub-prime lending business because the volatile market had made it so unprofitable. Before the bottom fell […]
Europe Urges U.S. to Curb Fall of Dollar
October 3rd, 2007Via: International Herald Tribune: The chief political spokesman for the euro has added his voice to demands for the United States to make a greater effort to curb the dollar’s strong fall – presaging tense times at the Group of 7 meeting this month in Washington. Jean-Claude Juncker, who heads the group of finance ministers […]
Catch a Falling Knife: Weak Dollar Prompts Record Foreign Buyouts of U.S. Companies
October 3rd, 2007As long as greater fools keep showing up to the party, the band will play on. Via: International Herald Tribune: European, Asian and Canadian companies are taking advantage of the weaker dollar to buy their U.S. counterparts at a record pace, increasing investment in the United States but also raising fears about a potential loss […]
Gold Down as Traders Lock in Profits After Record Highs
October 3rd, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. “Use extreme caution if considering adding to long gold positions in the near term. There is a strong possibility of a pullback. If you are looking to lock in profits, tighten stops, or consider a stop target of $738. Consider long […]
Maxed Out
October 2nd, 2007America is not only far from the world’s wealthiest nation; it is crumbling beneath a staggering burden of individual and government debt. Maxed Out takes us on a journey deep inside the American debt-style, where everything seems okay as long as the minimum monthly payment arrives on time. Sure, most of us may have that […]
Radiohead: Pay What You Want for New Album
October 1st, 2007Radiohead just blew the support columns out from underneath the already doomed music industrial complex. I know that Cryptogon is read mainly by people who have never heard of Radiohead, so, if you’re wondering what all the fuss is about, just know that Radiohead is a very big deal in the music world and they […]
U.S. MINT FAILS TO RESTART SALES OF AMERICAN EAGLE GOLD COINS
October 1st, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. When I initially mentioned that the U.S. Mint had stopped selling American Eagle gold coins, that represented such a weird situation that I turned a screen shot of the U.S. Mint’s web page into the banner image for Cryptogon, as you […]
CITIGROUP CUTS PROFIT FORCAST BY 60%; SUBPRIME… YOU KNOW THE REST BY HEART
October 1st, 2007Via: Bloomberg: Citigroup Inc., the biggest U.S. bank, said third-quarter profit fell about 60 percent because of “weak” credit markets and losses on leveraged loans and mortgage-backed securities. The bank will write down $1.4 billion before taxes on leverage finance commitments, Citigroup said today in a statement. The New York-based bank lost $1.3 billion on […]
Some Northern Rock Clients Buying Gold
October 1st, 2007“I really wonder if we are at a point where physical demand from people looking to diversify their portfolios could cause the thing to breakout higher. How many bank runs will the herd endure before it looks for alternatives?” —Cryptogon, September 16th, 2007 Via: The Post: Some beleaguered Northern Rock customers who withdrew their savings […]
