As I’ve previously noted, interest rates have risen both times after the Fed implemented quantitative easing.Graham Summers points out that food prices have also skyrocketed both times:In case you’ve missed it, food riots are spreading throughout the…
Posts Tagged ‘Karl Denninger’
My Heart Goes Out to Congresswoman Giffords and the Families of Judge Roll and the Others Killed Today
January 8th, 2011 |
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My heart goes out to Congresswoman Giffords and the families of Judge John Roll and the others killed today.Judge Roll was Arizona’s chief federal judge.Sarah Palin had put Giffords on a “hit list” of sorts (and see this). And Giffords’ opponent in th…
New York Sues Accounting Giant Ernst & Young for Fraud in Connection with Lehman’s Repo 105, But the ENTIRE American Economy is a Ponzi Scheme
December 20th, 2010 |
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New York attorney general Andrew Cuomo is about to charge Lehman’s accountants, Ernst & Young, with fraud for allowing Lehman to cook its books using the infamous “Repo 105″ shell game. This comes only weeks after a Lehman retirement fund sued Leh…
1 of the 2 Administrative Judges at the Commodity Futures Trading Commission Vowed NEVER to Let a Complainant Win. He’s Kept His Promise for 20 Years
October 20th, 2010 |
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The Commodity Futures Trading Commission (CFTC) is an important agency. It is largely responsible for regulating derivatives and other important instruments.It is supposed to prevent and prosecute fraud.So it is stunning that one of the two administra…
“At the Root of the Crisis We Find the Largest Financial Swindle in World History”, Where “Counterfeit” Mortgages Were “Laundered” by the Banks
October 13th, 2010 |
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A “false front” building from the Old West. Towns built false fronts to make the town look more substantial and prosperous than it really was.The tidal wave of evidence showing that the giant banks have engaged in fraudulent foreclosure practices is …
Will the Basel III Bank Regulations Change Anything?
September 14th, 2010 |
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The much-trumpeted Basel III increase in capital requirements will not be fully phased in until 2019.Many are criticizing the slow pace of implementation, including Joseph Stiglitz:“While it’s understandable given the weaknesses and the failings of…
The Giant Banks, Federal Reserve and Treasury Have All Blackmailed America
May 22nd, 2010 |
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As I wrote last October: Congressmen Brad Sherman and Paul Kanjorski and Senator James Inhofe all say that the government warned of martial law if Tarp wasn’t passed. And Rahm Emanuel famously said: Never let a serious crisis go to waste. What I…
Lehman Fraudulently Cooked Its Books, Accounting Giant Ernst & Young Helped, Geithner and Bernanke Winked and Slapped Them on the Back
March 12th, 2010 |
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As William K. Black said a year ago, the government’s entire strategy now – as in the S&L crisis – is to cover up how bad things are (“the entire strategy is to keep people from getting the facts”).Paul Krugman and others pointed out that Geithne…
Demand that Congress Pass the “Keep Your Hands Off My 401(k) Act of 2010″
March 4th, 2010 |
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As I wrote in January:Last May, I wrote about the rumor that the Obama administration might seize funds from American’s 401k and IRA accounts.Last week, Bloomberg pointed out:The Obama administration is weighing how the government can encourage workers…
Converting 401k and IRA Funds Into “Steady Payment Streams”
January 12th, 2010 |
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Last May, I wrote about the rumor that the Obama administration might seize funds from American’s 401k and IRA accounts.Last week, Bloomberg pointed out:The Obama administration is weighing how the government can encourage workers to turn their savings…
Former Managing Director of Goldman Sachs: Accounting Fraud of the Too Big to Fails May Be Worse Than Enron
December 2nd, 2009 |
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Nomi Prins – former managing director of Goldman Sachs and head of the international analytics group at Bear Stearns in London – is saying the same thing that financial bloggers have been saying: The giant banks are manipulating their books to make the…
Deficits (and Massive Debt Overhangs) DO Matter
November 24th, 2009 |
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The New York Times has a good essay on debt:But that happy situation, aided by ultralow interest rates, may not last much longer. Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come …
Perfect Inverse Correlation Between the Dollar and the Dow
November 11th, 2009 |
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Karl Denninger – who is always worth reading – shares 2 stunning charts which show the inverse correlation between the dollar and the Dow: That is an overlaid chart (as close as I can easily get them to register) on the dollar and The S&P 500 from…
Michael J. Panzner: Wall Street’s Gains Equal Main Street’s Loss?
July 25th, 2009 |
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Stock prices have been on a tear lately, bolstered by quarterly earnings reports that have in many cases outpaced expectations and growing optimism that the…