Cable Update (GBPUSD) | Page 11414 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #228,261
  • May 24, 2010 2:17pm May 24, 2010 2:17pm
Quoting kill56
i love these ma's
UP or Down Kill ???
  • #228,262
  • May 24, 2010 2:19pm May 24, 2010 2:19pm
Quoting Baby-Trader
UP or Down Kill ???

up and down east and west


yaly foo2 roodo 3aly ta7et
  • #228,263
  • May 24, 2010 2:29pm May 24, 2010 2:29pm
Quoting Baby-Trader
Hello
Where are you ????
Traders !!!!
Hello, Come on back.
How many accounts wiped out this month????

Fear x..... Greed x..... Patience.
This is the key .

I'm here but bored out of my mind .........
Better safe than sorry
  • #228,264
  • May 24, 2010 2:29pm May 24, 2010 2:29pm
Quoting kill56
up and down east and west


yaly foo2 roodo 3aly ta7et
I'm afraid to say that because some babies here hate me.

BUT IT IS MY OPINION AND MY VIEW ONLY.
DON'T FOLLOW ME. DO NOT ATTACK ME.

Call Me as a Grand Crazy on the world.
But My first Target is .......
....................................................................
....................................................................
1.7669
by 6 months from now.

I will not reply to anyone attacking me.
Just sharing my mind with you.

Please mark this post in your notes.

Have green pips everyone.
  • #228,265
  • May 24, 2010 2:37pm May 24, 2010 2:37pm
Quoting Baby-Trader
I'm afraid to say that because some babies here hate me.

BUT IT IS MY OPINION AND MY VIEW ONLY.
DON'T FOLLOW ME. DO NOT ATTACK ME.

Call Me as a Grand Crazy on the world.
But My first Target is .......
....................................................................
....................................................................
1.7669
by 6 months from now.

I will not reply to anyone attacking me.
Just sharing my mind with you.

Please mark this post in your...

will it might be cable is crazy but we are talking the end of this year i dont think cable will go that far this tear next year yes it might still i might be wrong
i will take a long term buy from 13500 and i will hold it for a long time
  • #228,266
  • May 24, 2010 2:40pm May 24, 2010 2:40pm
Quoting kill56
will it might be cable is crazy but we are talking the end of this year i dont think cable will go that far this tear next year yes it might still i might be wrong
i will take a long term buy from 13500 and i will hold it for a long time
I will be with you in this one too
  • #228,267
  • Edited 4:38pm May 24, 2010 3:01pm | Edited 4:38pm
Still same trading range,

short @ 1.4442
SL @ 1.45
TP 1.43

Edit: SL moved to BE
Don't be a hero. Don't have an ego. Always question yourself
  • #228,268
  • May 24, 2010 7:25pm May 24, 2010 7:25pm
Quoting Baby-Trader
I'm afraid to say that because some babies here hate me.

BUT IT IS MY OPINION AND MY VIEW ONLY.
DON'T FOLLOW ME. DO NOT ATTACK ME.

Call Me as a Grand Crazy on the world.
But My first Target is .......
....................................................................
....................................................................
1.7669
by 6 months from now.

I will not reply to anyone attacking me.
Just sharing my mind with you.

Please mark this post in your...
I am afraid to say this but its a true fact

....................................................................
....................................................................

THE WORLD WILL END ON DECEMBER 21, 2012
MARK MY WORDS, THIS IS NOT A JOKE

....................................................................
....................................................................

I will not reply to anyone attacking me.
Just sharing the astrological facts with you guys.

Please mark this post in your notes.

British Pound will be worthless as there will be no one alive to use it.
  • #228,269
  • Edited 7:48pm May 24, 2010 7:31pm | Edited 7:48pm
Hi everyone I short Gbp at 1.4440 earlier today. This was my second trade
in a competition that I'm running in for a 15,000$ prize

You can see my thread I open on this.

I'm looking for your support on this contest, just drop me a line I will
appreciate.
I Did finished first in the qualification with a 500% gain in a months you can see the detail at my thread

http://www.forexfactory.com/showthread.php?t=237992

I'm calling this for me guys so just drop me a line it will be nice
You can follow all the top 20 contestant true out the competition you can see the graphic and the trade that we be all taking live.

I'm in this contest on the same name lejumeau
  • #228,270
  • May 24, 2010 7:32pm May 24, 2010 7:32pm
Quoting forexlion
I am afraid to say this but its a true fact

....................................................................
....................................................................

THE WORLD WILL END ON DECEMBER 21, 2012
MARK MY WORDS, THIS IS NOT A JOKE

....................................................................
....................................................................

I will not reply to anyone attacking me.
Just sharing the astrological facts with...
Based on what? some mexican guy who was in a hurry to go drink some tequila to finish his job (calendar). LOLhttp://cdn.forexfactory.com/images/icons/icon10.gif
luv ya lion
  • #228,271
  • May 24, 2010 7:42pm May 24, 2010 7:42pm
- A big crisis is kicked off on October 25, 2009. It could be that Israel bombs Iran, or that Swine Flu goes into a level of extreme lethality. 10 days later, in relation to this crisis, the Obama administration will be thrown into chaos.

- When Israel bombs Iran (also around end Oct early Nov), they will use a nuclear-tipped bunker buster that will hit something unforeseen underground. As a result, a radioactive cloud will form that will pollute and sicken Southeast Asia. This will cause much of the world to turn against Israel.

- The “Death of the Dollar” will be a continuing trend, with a hyper inflationary period in 2010, and banking crises/confidence losses that will begin in August 2009 and escalate by November 2009.

- ”Global Coastal Phenomena” will be gradual, yet by March/April 2011 the situation could be disturbing for many people. Unusual movements of the Moon brought on by anomalies in the magnetosphere could cause coastal disruptions.

- The magnetosphere problems could lead to ultraviolet scorching of food crops. Grain crops will fail, mainly in the Northern Hemisphere, leading to food riots in the winter of 2010/spring of 2011. Specifically, they’ll be riots in Rome that will spill over into the Vatican.

- In South America, they’ll be large or mass sightings of UFO-related phenomena. In the summer of 2010, a video crew will interview an escapee from an internment facility. The young bald man will later be revealed to be a “non-Terran” human.
  • #228,272
  • May 24, 2010 7:47pm May 24, 2010 7:47pm
Whatever Germany does, the euro as we know it is dead
Angela Merkel’s ban on short-selling is just a distraction from the horror to come. …. In one respect, Mrs Merkel is right: “The euro is in danger… if the euro fails, then Europe fails.” What she has not yet admitted publicly is that the main cause of the single currency’s peril appears beyond her control and therefore her impetuous response to its crisis of confidence is doomed to fail.

The euro has many flaws, but its weakest link is Greece, whose fundamental problem is that for years it spent too much, earned too little and plugged the gap by borrowing in order to enjoy a rich man’s lifestyle. It flouted EU rules on the limits to budget deficits; its national accounts were a moussaka of minced statistics, topped with a cheesy sauce of jiggery-pokery.

By any legitimate measure, Greece was unworthy of eurozone membership. That it achieved card-carrying status was down to the sleight-of-hand skills of its Brussels fixers and the acquiescence of central bank bean-counters. Now we know the truth, jet-hosing it with yet more debt makes no sense. Another dose of funny money will delay but not extinguish the need for austerity.

This is why the euro, in its current form, is finished. The game is up for a monetary union that was meant to bolt together work-and-save citizens in northern Europe with the party animals of Club Med. No amount of pit props from Berlin can save the euro Mk I from collapsing under the weight of its structural dysfunctionality. You cannot run indefinitely a single currency with one interest rate for 16 economies, when there are such huge fiscal disparities.

What was once deemed unthinkable is now, I believe, inevitable: withdrawal from the eurozone of one or more of its member countries. At the bottom end, Greece and Portugal are favourites to be forced out through weakness. At the top end, proposals are already being floated in the Frankfurt press for a new “hard currency” zone, led by Germany, Austria and the Benelux countries. Either way, rich and poor are heading in opposite directions.

GERMANY’S PARLIAMENT VOTES TO GIVE 66% OF COUNTRY’S ANNUAL INCOME TAX REVENUE TO BANKS ** 123 billion “eurozone” package passed
Germany’s parliament today passed a bill that will mean that about 66 per cent of the country’s income tax revenue each year will go to banks in the form of interest payments on souvereign dent bonds held by Greece, Portugal and other eurozone nations.

Chancellor Angela Merkel’s centre-right coalition government voted to give 123 billion as Germany’s portion of a 750-billion euro loan guarantee package prepared by the European Union and the International Monetary Fund to enable governments to keep up interest payments to banks on souvereign debt.
….
The transfer of almost the country’s entire tax revenues to the banks shows that the politicians in Germany are working hand in glove with banks to loot the people on an unprecedented scale under the smokescreen created by the mainstream media. Though sold by the controlled media as “aid for Greece”, none of the money will go to the people of Greece.

The 123 billion euros and 22 billion euro packages will go straight to the banks who hold souvereign debt bonds issued by the Greek and other eurozone debtor governments if these cannot raise enough money. These same banks have been artificially pushing up the interest rate using credit default swaps to maximize their profits, and Germany’s recent bank on naked short selling will do little to stop this practise.

The way governments and regulators acted together to help banks create paper debt and then transfer gigantic sums to those banks under the guise of having to rescue them and pay interest payments on the rescue loan is the subject of a parliamentary investigation and criminal probes in Iceland. Several bankers have already been arrested. ….. The credit rating agencies are also under investigation in the USA for fraud.
…..
Never in recent European history have governments so blatantly looted taxpayers. If nothing is done to reverse these bills, the economic and social collapse of Germany, Greece and EU nations is inevitable.
  • #228,273
  • May 24, 2010 7:52pm May 24, 2010 7:52pm
Inserted Video
  • #228,274
  • May 24, 2010 7:57pm May 24, 2010 7:57pm

  1. Will this US$1T of bailout be successful? I think so because its intention is not to help the general public but banksters. There is no doubt that another round of attacks will come against the PIIGS and Europe. Thereafter, UK, Japan and finally US.
  2. The Illuminist plan is to destroy all major currencies and then pose as saviors with their One World Currency and Global Central Bank. They have North America, EU, Australia, New Zealand and Japan largely in their pockets. This amounts to something like 60+% of global GDP.
  3. Once the One World Currency and New World Financial System is in place, they will brow beat the rest of the world to join their hegemony. A simple threat will be: ‘We can only do business with countries that use this currency and financial system!’. Or ‘Join us in this New World Order to fight against terrorist and chaos!’ Ie.: ‘If you don’t join us we will send our terrorists to attack you and create chaos!’
  4. The big question will be China, Russia and their allies. Many countries who do not rely on exports to US and EU will reject the new Luciferian hegemony. War is inevitable!

    Daniel 7:23 (New King James Version)
    23 “Thus he said:
    ‘ The fourth beast shall be
    A fourth kingdom on earth,
    Which shall be different from all other kingdoms,
    And shall devour the whole earth,
    Trample it and break it in pieces.
  5. Bloomberg reports:

    May 19 (Bloomberg) — Kyle Bass, who made $500 million in 2007 on the U.S. subprime collapse, is betting Europe’s debt crisis won’t be solved by the $1 trillion loan package the International Monetary Fund and European Union agreed on last week.

    “The EU and the IMF effectively went all-in with a bad hand in the highest stakes game of financial poker ever played with the world,” wrote Bass, head of Dallas-based Hayman Advisors LP, in a letter to clients sent after the bailout was announced.

    Bass bought gold last week and took other steps to position the fund for hyperinflation and a “competitive devaluation” by Europe, Japan and the U.S. that he is forecasting, according to the letter. Christopher Kirkpatrick, general counsel for Hayman, declined to elaborate on the comments.

    Managers who made short bets on U.S. subprime securities as the housing market was imploding in 2007 and 2008 see similar opportunities in Europe, said     Nick Swenson, who manages Minneapolis-based Groveland Capital LLC and profited as mortgages tumbled. In March, he started buying credit-default swaps on Spanish, Italian and Irish government bonds, a sort of insurance that pays off in the event of a default or restructuring. “It’s asymmetric — it reminds me of the subprime trade,” he said in a telephone interview.
    …..
    Paulson Stays Out
    John Paulson, who made $15 billion betting on the subprime trade, is one manager who may not be replicating the CDS trade he used three years ago. Earlier this month, in a conference call with investors, he called Europe’s debt problems “manageable.”

    A weaker euro will benefit French and German exporters, he told clients. Like Bass, he’s been forecasting a jump in inflation, which is why he’s been a buyer of gold and gold producers since at least last year. For other managers, the potential profits from betting against Europe still outweigh the costs. Swenson pays 1.3 percent annually to put on his bet against Irish, Spanish and Italian debt.

    Mark Hart, who runs Fort Worth, Texas-based Corriente Advisors LLC, returned $320 million of the $424 million European Divergence Master Fund LP in February, after betting that some European governments will default on their bonds.

    ‘Asymmetric’
    “The European divergence theme offers an asymmetric risk/reward profile,” Hart told clients at the time. “The sovereign debt problem in Europe is widespread and is not isolated to a single issuer.” Hart, who also profited from bets against subprime mortgages, didn’t return a call seeking a comment.

    Matrix PVE Global Credit Fund, a 110 million-euro ($133.9 million) fund run by     Gennaro Pucci based in London, gained 19 percent in April because of bets that Europe’s credit crisis would worsen. “The ECB is buying debt at artificial levels, but that won’t solve structural problems,” Pucci said in a telephone interview.

    Matrix Group Ltd. manages about 3 billion pounds ($4.3 billion) including a half-dozen hedge funds. The credit fund sold most of its CDS positions in the recent jump in prices, and then put some back on at current levels. “We’re in the aftermath of a financial crisis,” Pucci said. “It’s not unusual for sovereign debt to explode.”

  • #228,275
  • May 24, 2010 8:03pm May 24, 2010 8:03pm
Inserted Video
  • #228,276
  • May 24, 2010 8:05pm May 24, 2010 8:05pm
http://img197.imageshack.us/img197/7...511694x442.png
  • #228,277
  • May 24, 2010 8:06pm May 24, 2010 8:06pm
Egon von Greyerz exhibits perspicuity in his writing rarely found in most modern writers. His articles are a great read. His reasoning is sound and makes boring economics enjoyable. I have said before and I will say again, remember the Golden Rule: ’Whoever has the gold makes the rules!’

In 2002 we advised investors to put up to 50% of their liquid assets into gold when the price was $300. To us it was crystal clear that the mountain of debts and derivatives would never be repaid with normal money but would be inflated away by money printing and this is what is now happening. The media are now talking about a bubble in gold and comparing to the 1980 top at $850. Let us be very clear, although gold has gone up 5 times since the 1999 bottom at $250, it is nowhere near its peak. Adjusted for real inflation (as per shadowstats.com) the 1980 gold peak in today’s prices corresponds to around $7,200 today. So gold could easily go up 6 times from the current price of $1,220 and still be within normal parameters.

There are many factors that will contribute to gold’s rise from here (in addition to money printing):

1. Gold production is going down.
2. Neither Comex (the futures exchange), nor the bullion banks would be able to deliver more than a fraction of the physical gold for which they have outstanding commitments.
3. Central banks and the IMF probably don’t hold even half of the 30,000 tons that they claim they have. Most likely, at least 15,000 tons (6 years gold production) have been sold to suppress the gold price.
4. The precarious financial system will lead to a total distrust of paper gold including most of the ETFs which have no physical gold.

The four factors above will lead to the most massive surge in the gold price. There will be nowhere near sufficient gold to satisfy demand at current prices. We had been expecting gold to start its acceleration in March 2010 and this is exactly what is happening. We expect the move to be relentless during most of this year with very few major corrections but with high volatility. Moves of $100 in one day could easily happen.

So gold is likely to make a top in the next few years between $5,000 and $10,000. But if we get hyperinflation the price could go exponentially higher like in the Weimar Republic when gold reached DM 100 trillion per ounce in 1923. Will gold experience the same type of correction when is has peaked as happened after the 1980 peak? Probably not, because gold is likely to be a part of a new monetary system that will be created when the current one has collapsed.

The table below illustrates the total destruction of paper money against gold in the last 100 years and shows how many ounces of gold that $1,000 bought at various times. In 1910, $1,000 bought 40 oz of gold at $25 per oz. Today in 2010, $1,000 buys 0.80 oz of gold at $1,230 per oz. This is a massive decline of 98% in the value of the dollar measured in real terms in the last 100 years. The next significant year is 1971 when Nixon abolished the convertibility of dollars to gold. It was this disastrous decision that opened the floodgates for the credit and money creation that we are experiencing currently. The dollar is down 97% since then. But even if we take more recent years, the purchasing power of the dollar measured in gold has declined catastrophically. Since the 1999 gold low, the dollar has declined by 80% against gold and since 2002 (when Matterhorn Asset Management recommended major gold investments) by 76%.
  • #228,278
  • May 24, 2010 8:09pm May 24, 2010 8:09pm
The world is heading very rapidly towards calamity. 2010 will be remembered for the rest of our lives as Armageddon 2010. Things are getting out of control. I do not have confidence. Even the PTB controllers have lost the reins to the world economy. We are all about to take a cliff dive together into who knows what?! Egon Von Greyerz makes a sound case that: We Are Doomed !

ALEA IACTA EST – The Die Has Been Cast!
Yes this is it! We have crossed the Rubicon and events in the world economy are now likely to unfold in a totally uncontrollable fashion. Clueless governments still don’t understand that it is their ruinous actions that have created a credit infested and bankrupt world. They will continue to prescribe the same remedy that caused the problem in the first place, namely more credit and more printed money. The consequences are clear; we will have hyperinflation, economic and human misery as well as social unrest.

When will the world finally begin to understand that we have reached the point of no return and that “the voyage of their life is bound in shallows and in miseries” (Shakespeare, Julius Caesar). Sadly, we are probably not very far from that point. It is already starting to happen in many countries.

The latest EU and IMF package of $ 1 TRILLION (Euro 750 billion) is yet another futile attempt by governments to abolish poverty by printing paper. Let’s be absolutely clear, this money does not exist and the EU governments are hoping by declaring such a large amount that they can con the Wolfpack speculators. At this point the EU has just picked a large round figure of out the air. But when their bluff is called by the Wolfpack and the next attack happens, EU governments will after initial huffing and puffing start printing unlimited amounts of paper.

So the world is now on its road to ruin and there is no action, no leader and no new amount of printed money that can save the world or prevent a hyperinflationary depression.

Never in history has the world been in a situation when virtually all industrialised countries are bankrupt. Therefore there is no precedent for what will happen in the next few years. What we can be quite certain about is that events will happen in a seemingly random pattern and that it will be impossible to forecast where the next crises will start.

But although we will not be able to predict in what order events will take place, we can expect much of what is outlined below to happen.

Wolfpack attacks
Already back in 2007 we warned about the very high risk of the CDS (credit default swap) market. This is now one of the primary instruments used by the Wolfpack (expression coined by the Swedish Finance Minister Borg). The Wolfpack, speculators with enormous fire power such as hedge funds and investment banks, use the CDS market to attack any weak financial sector, be it a country, a bank or a company. The combination of the leverage of the CDSs and the massive capital available to the Wolfpack makes it possible for them to bring down or badly maul whatever they attack. It was not the Wolfpack that caused the problem in for example Greece but they can bring down a weak victim quickly and profit immensely and immorally from it.

There are so many weak potential victims that the Wolfpack can attack and they will start with the most vulnerable ones like, Portugal, Spain and Ireland etc. But when the time is right they will also attack the US and the UK.

So in the coming year we will see country after country coming under attack from the Wolfback which will lead to acceleration in money printing and higher interest rates.

Iceland – Ireland – Greece – Who is next?
The EU support package of $ 1 trillion is supposed to be sufficient to protect the rest of Europe from another Greek tragedy. The dilemma with such a massive EU commitment is that no government expects to have to pay the money out. If they did the voters in the respective EU countries would throw out their government. Why should the German people, who are also having hard times, pay for the Greeks, Portuguese or the Spaniards, especially since these loans will never be paid back.

Greece is bankrupt but is still taking on additional EU loans of € 140 billion. In addition, their austerity measures are supposed to bring the deficit down from 12% of GDP today to 3% in a few years time. But who can be so stupid as to lend to a bankrupt nation which will sink into the Ionian and Aegean Seas in the next few years. With massive cuts in government expenditure, with major falls in output, with unemployment rising fast, with tax revenues collapsing how can Greece possibly be expected to improve the economy and pay a high interest rate on their exploding debt? In addition, as long as they have the Euro they will be totally uncompetitive. So if they couldn’t manage their economy in the so called good times, it is absolutely guaranteed that they have no chance of surviving in bad times. So Greece will default and so will Portugal, Spain, Italy, France, the UK, the US and many more. But before that there will be the most colossal worldwide money printing exercise which would have used up most of the trees in the world but for electronic fiat money.

So, if virtually bankrupt nations don’t cut their deficits, they will definitively go under and if they try to cut, they will also go under due to collapsing output and tax revenues and colossal debts. Thus whatever actions governments take or don’t take, they are damned.

The table above shows debt as a percentage of GDP for various OECD countries. The official debts (in red) are massive and unlikely to ever be repaid in real money. Total debts (grey bars) include unfunded liabilities such as pensions and health care. Spain has the lowest total debt to GDP of 250%. Germany and the UK have around 400%, the US over 500% and Greece over 800% debt to GDP. These figures are absolutely astronomical and prove that most governments in the world will be totally incapable of repaying their debts or funding the pensions or medical care which they have committed to. It doesn’t matter however much governments cut expenditure or raise taxes, all these countries are insolvent and nothing can save them.

The world must permanently readjust
Most governments still believe that deficit spending and money printing is the solution to all their problems. Because the world economy’s expansion in the last 100 years and particularly in the last 40 years has been primarily based on credit and not real growth, governments live under the false impression that money printing will work this time too. But we have reached the point when investors will no longer buy worthless government debt that will never be repaid with real money. We will first go through a period when governments issue and buy their own debt thus monetising the debt or print money. This will be the hyperinflationary phase. Thereafter the world will realise that none of the government debt and very little of the bank debt will ever be repaid. Credit will then implode and so will also the assets financed by credit. Eventually there will be a new monetary and financial system and the world will start afresh.

The adjustment period will be very long and will involve economic and human misery, leading to social unrest and major political change. It will be a horrible experience for the world during this extended period of adjustment. But it will be like a forest fire that clears out the deadwood and creates the conditions for strong new growth. Once the new era starts it will therefore be from a very much lower level and individuals will be rewarded for hard work with little or no social security safety net. Credit will only be granted for sound capital investment projects, not for consumption or speculation. Ethical and moral values will return and the golden calf will not be worshipped. But before that, the period of readjustment will be very long and extremely difficult for the whole world.

Hyperinflation
For several years we have predicted that hyperinflation is the most likely outcome of the economic predicament that the world is in. But it is unlikely to be a straightforward hyperinflationary period. Precious metals will be the primary beneficiaries of hyperinflation. Certain commodities, especially food and energy, will also go up in price. But most assets that have been financed by the credit boom will go down in real terms. This includes property, stocks and bonds. In hyperinflationary money these assets could still go up in price. If someone who earned $ 50,000 per annum in real money now earns $ 5 million in newly printed money, his house will probably also go up in nominal terms. But in real terms property prices will decline massively. There will be no credit available and interest rates will be very high, probably at least 15-20% so very few people will be able to buy a house.

Hyperinflation will destroy many currencies so paper money will definitely reach its intrinsic value which is zero. Gold and silver will virtually be the only assets that will protect investors fully against the destruction of money.

The next leg of the debt crisis is here
In our February newsletter “Sovereign Alchemy will Fail” we discussed the Sovereign Time Bomb and we are now experiencing the initial small explosions with Greece as the first victim. The $1 trillion EU/IMF rescue package was never intended to be more than a headline figure. EU governments were hoping that this would frighten the Wolfpack away. But so far this has failed. The Euro went up 4 cents when the package was announced but is now down to new lows again. How can anyone take a massive rescue package seriously when most of the countries making the commitments are bankrupt themselves? Spain and Italy have committed tens of billions each. And they are the ones that will be attacked by the Wolfpack next. This is the bankrupt saving the bankrupt. The IMF has no money but is dependent on its members of which the US is the biggest contributor. And they are bankrupt too. The UK, which is not in the Euro Zone and which has a worse budget deficit than Greece, contributed £15 billion. The new UK government is planning to cut a massive £ 6 billion of costs out of its next year’s budget which will bring major hardship. But as a last act, the outgoing labour government committed £15 billion which if paid out will never be repaid. The whole thing is a total farce. Governments commit trillions to rescue banks and sovereign states but cannot even make budget cuts of a few billion in their own countries. This shows that the world economy and the world financial system is being run by morons who only have their own self interest in mind and do not understand the consequences of their ruinous actions.

When the $1 trillion EU rescue package was announced, the US simultaneously offered European banks dollar Swap facilities (dollar loans) of a minimum $500 billion but probably much more. In addition the US Fed also injected at least $500 billion into the US banking system. These actions make it clear the banking system is under tremendous strain similar to 2008. But this is just the beginning. Things will get a lot worse.
  • #228,279
  • May 24, 2010 8:13pm May 24, 2010 8:13pm
Warning! Financial, Economic And Monetary Armageddon 2010!

 

  1. I am sounding this alarm loud and clear! By Q4 2010 All Hell Will Break Loose! Warning! Warning! Ginormous financial, economic and monetary 5000′ high tsunami coming our way! Get out of all paper assets: stocks (except for precious metal stocks), currencies… goto physical precious metals, gold and silver now!!!
  2. Stock up on food because food price inflation is going to skyrocket. The coming collapse will cause major disruption in the supply chain. There will be food but because the banking system, financial system will collapse, the means of financing the business will be affected. Alot of business will goto a cash or more likely gold payment mode. This will result in massive price disruptions and shortages!

    Predictions For The Rest Of 2010
    Bob Chapman
    First 6 months of 2010, Americans will continue to live in the ‘unreality’…the period between July and October is when the financial fireworks will begin. The Fed will act unilaterally for its own survival irrespective of any political implications …(source is from insider at FED meetings). In the last quarter of the year we could even see Martial law, which is more likely for the first 6 months of 2011. The FDIC will collapse in September 2010. Commercial real estate is set to implode in 2010. Wall Street believes there is a 100% chance of crash in bond market, especially municipals sometime during 2010. The dollar will be devalued by the end of 2010.

    Gerald Celente
    Terrorist attacks and the “Crash of 2010″. 40% devaluation at first = the greatest depression, worse than the Great Depression.

    Igor Panarin
    In the summer of 1998, based on classified data about the state of the U.S. economy and society supplied to him by fellow FAPSI analysts, Panarin forecast the probable disintegration of the USA into six parts in 2010 (at the end of June – start of July 2010, as he specified on 10 December 2000

    Neithercorps
    Have projected that the third and final stage of the economic collapse will begin sometime in 2010. Barring some kind of financial miracle, or the complete dissolution of the Federal Reserve, a snowballing implosion should become visible by the end of this year. The behavior of the Fed, along with that of the IMF seems to suggest that they are preparing for a focused collapse, peaking within weeks or months instead of years, and the most certain fall of the dollar.

    Webbots
    July and onward things get very strange. Revolution. Dollar dead by November 2010.

    LEAP 20/20
    2010 Outlook from a group of 25 European Economists with a 90% accuracy rating- We anticipate a sudden intensification of the crisis in the second half of 2010, caused by a double effect of a catching up of events which were temporarily « frozen » in the second half of 2009 and the impossibility of maintaining the palliative remedies of past years. There is a perfect (economic) storm coming within the global financial markets and inevitable pressure on interest rates in the U.S. The injection of zero-cost money into the Western banking system has failed to restart the economy. Despite zero-cost money, the system has stalled. It is slowly rolling over into the next big down wave, which in Elliott Wave terminology will be Super Cycle Wave Three, or in common language, “THE BIG ONE, WHERE WE ALL GO OVER THE FALLS TOGETHER.”

    Joseph Meyer
    Forecasts on the economy. He sees the real estate market continuing to decline, and advised people to invest in precious metals and commodities, as well as keeping cash at home in a safe place in case of bank closures. The stock market, after peaking in March or April (around 10,850), will fall all the way down to somewhere between 2450 and 4125 during the next leg down.

    Harry Dent (investor)
    A very likely second crash by late 2010. The coming depression (starts around the summer of 2010). Dent sees the stock market–currently benefiting from upward momentum and peppier economic activity–headed for a very brief and pleasant run that could lift the Dow to the 10,700-11,500 range from its current level of about 10.090. But then, he sees the market running into a stone wall, which will be followed by a nasty stock market decline (starting in early March to late April) that could drive down the Dow later this year to 3,000-5,000, with his best guess about 3,800.

    Richard Russell (Market Expert)
    (from 2/3/10) says the bear market rally is in the process of breaking up and panic is on the way. He sees a full correction of the entire rise from the 2002 low of 7,286 to the bull market high of 14,164.53 set on October 9, 2007. The halfway level of retracement was 10,725. The total retracement was to 6,547.05 on March 9, 2009. He now sees the Dow falling to 7,286 and if that level does not hold, “I see it sinking to its 1980-82 area low of Dow 1,000.” The current action is the worst he has ever seen. (Bob Chapman says for Russell to make such a startling statement is unusual because he never cries wolf and is almost never wrong)

    Niño Becerra (Professor of Economics)
    Predicted in July 2007 that what was going to happen was that by mid 2010 there is going to be a crisis only comparable to the one in 1929. From October 2009 to May 2010 people will begin to see things are not working out the way the government thought. In May of 2010, the crisis starts with all its force and continues and strengthens throughout 2011. He accurately predicted the current recession and market crash to the month.

    Lyndon Larouche
    The crisis is accelerating and will become worse week by week until the whole system grinds into a collapse, likely sometime this year. And when it does, it will be the greatest collapse since the fall of the Roman Empire.

    WALL STREET JOURNAL- (2/2010)
    “You are witnessing a fundamental breakdown of the American dream, a systemic breakdown of our democracy and our capitalism, a breakdown driven by the blind insatiable greed of Wall Street: Dysfunctional government, insane markets, economy on the brink. Multiply that many times over and see a world in total disarray. Ignore it now, tomorrow will be too late.”

    Eric deCarbonnel
    There is no precedence for the panic and chaos that will occur in 2010. The global food supply/demand picture has NEVER been so out of balance. The 2010 food crisis will rearrange economic, financial, and political order of the world, and those who aren’t prepared will suffer terrible losses…As the dollar loses most of its value, America’s savings will be wiped out. The US service economy will disintegrate as consumer spending in real terms (ie: gold or other stable currencies) drops like a rock, bringing unemployment to levels exceeding the great depression. Public health services/programs will be cut back, as individuals will have no savings/credit/income to pay for medical care. Value of most investments will be wiped out. The US debt markets will freeze again, this time permanently. There will be no buyers except at the most drastic of firesale prices, and inflation will wipe away value before credit markets have any chance at recovery. The panic in 2010 will see the majority of derivatives end up worthless. Since global derivatives markets operate on the assumption of the continued stable value of the dollar and short term US debt, using derivatives to bet against the dollar is NOT a good idea. The panic in 2010 will see the majority of derivatives end up worthless. The dollar’s collapse will rob US consumers of all purchasing power, and any investment depend on US consumption will lose most of its value.

    Alpha-Omega Report (Trends Forecast)
    Going into 2010, the trends seemed to lead nowhere or towards oblivion. Geo-politically, the Middle East was and is trending towards some sort of military clash, most likely by mid-year, but perhaps sooner…At the moment, it seems 2010 is shaping up to be a year of absolute chaos. We see trends for war between Israel and her neighbors that will shake every facet of human activity…In the event of war, we see all other societal trends being thoroughly disrupted…Iran will most likely shut off the flow of oil from the Persian Gulf. This will have immense consequences for the world’s economy. Oil prices will skyrocket into the stratosphere and become so expensive that world’s economies will collapse..There are also trend indicators along economic lines that point to the potential for a total meltdown of the world’s financial system with major crisis points developing with the change of each quarter of the year. 2010 could be a meltdown year for the world’s economy, regardless of what goes on in the Middle East.

    Robin Landry (Market Expert)
    I believe we are headed to new market highs between 10780-11241 over the next few months. The most likely time frame for the top is the April-May area. Remember the evidence IMHO still says we are in a bear market rally with a major decline to follow once this rally ends.

    John P. Hussman, Ph.D.
    In my estimation, there is still close to an 80% probability (Bayes’ Rule) that a second market plunge and economic downturn will unfold during 2010.

    Robert Prechter
    Founder of Elliott Wave International, implores retail investors stay away from the markets… for now. Prechter, who was bullish near the lows in March 2009, now says the stock market “is in a topping area, “predicting another crash in 2010 that will bring stocks below the 2009 low. His word to the wise, “be patient, don’t rush it” keep your money in cash and cash equivalents.

    Richard Mogey
    Current Research Director at the Foundation for the Study of Cycles- Because of a convergence of numerous cycles all at once, the stock market may go up for a little while, but will crash in 2010 and reach all-time lows late 2012. Mogey says that the 2008 crash was nothing compared to the coming crash. Gold may correct in 2009, but will go up in 2010 and peak in 2011. Silver will follow gold.

    James Howard Kunstler (January 2010)
    The economy as we’ve known it simply can’t go on, which James Howard Kunstler has been saying all along. The shenanigans with stimulus and bailouts will just compound the central problem with debt. There’s not much longer to go before the whole thing collapses and dies. Six Months to Live- The economy that is. Especially the part that consists of swapping paper certificates. That’s the buzz I’ve gotten the first two weeks of 2010.

    Peter Schiff (3/13/2010)
    “In my opinion, the market is now perfectly positioned for a massive dollar sell-off. The fundamentals for the dollar in 2010 are so much worse than they were in 2008 that it is hard to imagine a reason for people to keep buying once a modicum of political and monetary stability can be restored in Europe. In fact, the euro has recently stabilized. My gut is that the dollar sell-off will be sharp and swift. Once the dollar decisively breaks below last year’s lows, many of the traders who jumped ship in the recent rally will look to re-establish their positions. This will accelerate the dollar’s descent and refocus everyone’s attention back on the financial train-wreck unfolding in the United States. Any doubts about the future of the U.S. dollar should be laid to rest by today’s announcement that San Francisco Federal Reserve President Janet Yellen has been nominated to be Vice Chair of the Fed’s Board of Governors, and thereby a voter on the interest rate-setting, seven-member Open Markets Committee. Ms. Yellen has earned a reputation for being one of the biggest inflation doves among the Fed’s top players.” Schiff is famous for his accurate predictions of the economic events of 2008.

    Lindsey Williams
    Dollar devalued 30-50% by end of year. It will become very difficult for the average American to afford to buy even food. This was revealed to him through an Illuminati insider.

    Unnamed Economist working for US Gov’t (GLP)
    What we have experienced the last two years is nothing to what we are going to experience this year. If you have a job now…you may not have it in three to six months. (by August 2010). Stock market will fall = great depression. Foreign investors stop financing debt = collapse. 6.2 million are about to lose their unemployment.

    Jimmy “Doomsday”
    DOW will fall below 7,000 before mid summer 2010- Dollar will rise above 95 on the dollar index before mid summer 2010- Gold will bottom out below $800 before mid summer 2010- Silver will bottom out below $10 before mid summer 2010- CA debt implosion will start its major downturn by mid summer and hit crisis mode before Q4 2010- Dollar index will plunge below 65 between Q3 and Q4 2010- Commercial real estate will hit crisis mode in Q4 2010- Over 35 states will be bailed out by end of Q4 2010 by the US tax payer End of Q4 2010 gold will hit $1,600 and silver jump to $35 an oz.

    George Ure
    Markets up until mid-to-late-summer. Then “all hell breaks lose” from then on through the rest of the year.

  • #228,280
  • May 24, 2010 8:26pm May 24, 2010 8:26pm
This is an interesting article by Daniel R. Amerman. It highlights what I have been saying for some time now. The banksters are taking over and are ‘raping’ the sheeple! Excerpts:

To “save” the euro, the European Central Bank (ECB) chose what some economists were calling the “nuclear option”. …. As we will review herein, the ECB’s choice of the “nuclear option” means: 1) the door has been opened for unlimited direct monetary creation by the ECB; 2) the money will be effectively used to pay for an outside-the-budget, unlimited bailout of major European and global banks;…

There are three powerful incentives for US readers to understand the contents of this article. 1) In this tightly interlinked world, if the European economy plunges down – so does the US economy. 2) We’re the blueprint, and face quite similar risks. 3) There he goes again! Ben Bernanke just bravely stepped forward to once again take on unlimited risks for the citizens of the United States, this time in the form of currency swaps, thereby imperiling the value of our money and savings.

Two Bailouts
The starting point for deciphering what just happened in Europe is to understand that we have not one, but two bailouts going on. There is the approximately $1 trillion (750 billion euro) loan package put together by European Monetary Union members as well as the International Monetary Fund. Sometimes referred to as the “shock and awe“ rescue package, …

The other bailout was (as in the United States) the real bailout, the one that really matters, and there is no price tag put on it. There is no price tag because there is no limit on what can be spent. “The European Central Bank said it will buy government and private bonds as part of an historic bid to stave off a sovereign debt crisis that threatens to destroy the euro” (Bloomberg). This type of purchase was prohibited when the ECB was created – because of its potentially dire inflationary consequences.

Bailing Out Banks Through Direct Monetary Creation
To understand the rescue, we need to understand who the beneficiaries are, and Greece is arguably not the main beneficiary. For the European Central Bank is not buying the securities directly from the governments or the private issuers — it’s buying them from the banks. The banks are in deep trouble, so the European Central Bank takes its power – which is the stewardship of the value of money for the citizens of Europe – and uses this power to buy the banks out at on an unlimited basis. The pricing is more attractive than what the market offers (which is the point of the intervention). So the banks either don’t lose money at all, or they take much lower losses than they would through selling to normal buyers. The ECB is making an unlimited amount of banking losses disappear. As others have commented, the euro zone rescue plan is not really a bailout of Greece, but rather, a bailout of Europe’s (and America’s) banks.
…..
Financial Nuke Blueprint Summary
Here’s a quick summary of the Federal Reserve blueprint which the European Central Bank is using for its own “rescue”:

1. Invoke emergency measures and do the opposite of what a central bank is supposed to do: create great big of gobs of money and throw the largesse around wherever you like. The obsolete term for this is “cranking up the printing press”, but this goes far beyond any printing press capabilities, as physically printing the hundreds of billions of euros or dollars at the speed with which they are being created would likely melt down a press.

2. Take those vast sums of money, and use them to entirely bail the banks and bankers out of their bad investments. There’s no budget, no legislative hearings and no formal rescues or bailouts to be debated or repaid. Just pay the banks more than the market says the investments are worth, and let the bonuses continue to flow!

3. The catch is that the new money can’t actually be spent, or the public might catch on to what’s happening when the cost of bread goes through the roof. Being the ungrateful sort, however, the banks are exactly the type who would take their rescue money and go spend it if there was more money to be made that way. So unlimited money is made available to bribe the banks, and keep the banks’ money safely inside the corral (i.e. “sterilized”).

4. The more money the banks get, the less real economic investment assets they have, and the bigger the portion of their assets that consist of nothing more than the monetary creation ability of the central banks.

5. Meanwhile, the fundamental problems that led to the crisis in the first place are still there, and the pain of dealing with them has been deferred into the future. At which time, they are likely to blow up worse than ever because delaying action never does help these things – but the focus of these emergency actions are about today. Tomorrow can take care of itself.

6. If you are a banker or politician, and if the fundamental problems do blow up much worse down the road – so what? The end result is the same, but you’ve kept what you think is one of the best jobs in the world in the meantime.

7. On the other hand, if you are a member of the general public, and if there had been no rescue packages, then there would have been a terrible price today, but at least you would have had your savings to fall back on. Thanks to the brilliance of central bankers and rescue packages however, this way when things do blow up, the economic damage is worse than ever, job losses are bigger than ever, and the value of your savings and retirement accounts just went “poof”, too.

8. Good thing the general public has no idea what these economists are really doing, eh? (And they never will, unless articles like this are circulated more widely… if you find this outrageous, tell as many people as you can about it.)
926 traders viewing now