Archive for the 'Economy' Category
The Alchemy of Mezzanine-CDOs: “One of the Biggest Financial Illusions the World has Ever Seen”
September 24th, 2007Please review my Wall Street Chop Shop piece before you read this jaw dropping report below. I have a sneaking suspicion about which firm this is referring to because I think I used to work for them. I worked for one of the subsidiaries, out on the periphery. This account below sounds like it comes […]
Fear of a Dollar Collapse, Part II
September 24th, 2007Via: Seeking Alpha: As you can clearly see above (bottom left chart), the amount of MZM (repos) versus M2 during 2007 is enormous. This means that the Fed is “inflating” at a rate faster today than it did right after 9/11, or during the deflationary scare of 2003. As we asked Wednesday night, “What did […]
Cryptogon Reader Has Joint Account with Siblings, Can’t Diversity Family Assetts, Losing Money by the Minute
September 24th, 2007A Cryptogon reader is desperately trying to diversity her family’s assets, but the funds are held in a joint account with this person’s siblings who have no idea how dire the global financial situation is. Unless her siblings can somehow come to see how serious this situation is, the funds cannot be moved. The question […]
Northern Rock Still Lending ‘Recklessly’
September 24th, 2007Imagine my shock. Via: Times Online: Northern Rock stands accused of “reckless†lending after it emerged this weekend that the beleaguered bank is still offering mortgages of six times salary to potential borrowers. Despite provoking the worst banking crisis for decades, the bank last week offered a reporter posing as a first-time buyer a £180,000 […]
U.S. Dollar Index Slips Under 78.33
September 24th, 2007We’re seeing prints under 78.33. Making history here. USDX has never been below 78.33. The Angry Old Fart Oscillator seems to be doing well so far. HA Via: Bloomberg: The dollar fell to a record low against the euro for a third straight session on Monday, weighed down by expectations of further U.S. interest rate […]
New Service Eavesdrops on Internet Calls to Display Ads Based on What’s Being Talked About
September 24th, 2007HA I thought, “Who would use this?” The answer came to me seconds later: Drunk college students. They’ll have to program a cunning drunken slur filter. Via: AP: A startup has come up with a new way to make money from phone calls connected via the Internet: having software listen to the calls, then displaying […]
Premier Says France Bankrupt
September 23rd, 2007Remember, a few days ago, when I asked, “Does anyone understand the French connection here?” as Henry Paulson, the U.S. Treasury Secretary, jetted around from London to Paris during the Northern Rock crisis… Uh… Via: Forbes: France is bankrupt because of chronic budget deficits, the country’s prime minister said Friday, pledging to balance the budget […]
Fears for Global Economy Propels Gold Price
September 23rd, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Guys, I don’t like it when the mainstream press starts to sound like Cryptogon. I don’t like it at all. When I wrote things like what you’ll read in the article below, before the move, it was actionable, valuable intelligence and […]
Feds Investigating Blackwater USA for Selling Weapons to Iraqi Insurgency
September 23rd, 2007Imagine my shock. But keep in mind, Blackwater is a CIA cutout that got so big that it just happened to become a household name. They’re just doing what Uncle tells them to do. Remember these? Pentagon Arms its Enemy’s Enemies in Iraq What Did $19 Billion Buy? U.S. “Loses” 190,000 Weapons in Iraq If […]
Prominent Los Angeles Investment Banker: Economy Facing ‘Colossal Problem’
September 22nd, 2007Via: Press Democrat: The U.S. economy might be in more trouble than some people think, a prominent Los Angeles investment banker said Thursday during a visit to Sonoma State University. Americans need to wake up to economic reality, said Ed Wedbush, chief executive of Wedbush Morgan Securities, one of the largest investment banking firms based […]
