Sunday, December 4, 2011

Ann Barnhardt: The Entire Futures/Options Market Has Been Destroyed by the MF Global Collapse

Was the collapse of MF Global an accident or the calculated move of a political insider? Ann passionately lays the whole scheme bare, explaining the massive implications this has for our legal and financial systems. Listen here

Gono nudges Zimbabwe towards Yuan

Ha ha Gideon Gono the love child of Ben Bernanke is worried that the US$ might turn to dust in the future and is turning to the Chinese Yuan for salvation. Economic humour doesn't get better than this.

From The New Zimbabwe:

RESERVE Bank governor Gideon Gono has warned that Zimbabwe’s nascent economic recovery is at the mercy of the United States dollar, which is facing new pressures from the Euro-zone debt crisis.

Gono says Zimbabwe should in fact be looking to the Chinese yuan as its main currency, while urgently seeking to restore its own currency which was abandoned in 2009 after a dramatic loss of its value.

Speaking in Gweru last Saturday, Gono said: “The extraordinary happenings in Europe where economic power houses in the Euro-zone have been hit by a debt crisis deserves extraordinary measures, especially here in Zimbabwe where we have adopted the U dollar as the major currency in our multi-currency regime.

"With the continuous firming of the Chinese yuan, the US dollar is fast ceasing to be the world's reserve currency and the Euro-Zone debt crisis has made things even worse.

“As a country, we still have the opportunity to avoid being caught napping by adopting the Chinese yuan as part of consolidating the country's look East policy.”

China is now Zimbabwe’s biggest trading partner, with the Asian giant absorbing most of the country’s mineral and agricultural produce.

“At the moment the US dollar is going down the tube owing to the Euro-zone debt crisis and as a country, we are also going down the tube because we do not have control of that currency" in full

Merkel and Sarkozy meet for summit on fiscal union

I think I have seen this movie before, on the way to conquering Europe Germany is diverted into baby sitting the Vichy French and saving Italy from incompetence.

From The Guardian:

Angela Merkel and Nicolas Sarkozy, the German chancellor and French president, will meet in Paris on Monday to thrash out a deal on fiscal union that they hope will bring long-term stability to the currency zone. The blueprint will be presented to other European leaders at a Brussels summit at the end of the week.

Financial markets are also expecting an interest rate cut from the European Central Bank on Thursday to give floundering euro economies a much-needed shot in the arm.

After months of deepening gloom that saw the eurozone lurch closer to recession and potential disintegration, a hint of optimism is in the air. There is a feeling in European capitals that moves to transform the currency union into a fiscal union, with greater centralised control over the tax-and-spend policies of the 17 member countries, could be the beginning of a solution for the debt crisis and calm the markets.

Merkel spelled out her proposals for fiscal union in a speech to the German parliament last week, and ECB president Mario Draghi has talked of the need for a "fiscal compact".

"They are clearly getting closer; they're singing perhaps not from the same hymn sheet, but their differences are not irreconcilable," said Grant Lewis, head of economic research at Daiwa Capital Markets. "Hopefully by Friday we'll have an agreement in principle." He noted, however, that the problems would start when politicians got down to the details at committee level. "The coming week may not be too bad for markets, but that doesn't mean the crisis is over. Ultimately what people want is eurobonds – effectively a German guarantee on Italian debt." on

The new American Civil War?

Now we just need veterans and serving military personnel to stand on the people's side of the barricades, supporting the constitution and the bill of rights, and it will be on.

From: RTAmerica  | Dec 2, 2011

Keiser Report: Hang Paulson

In case you are wondering what Max's reference is to Gaddafi's last moments, well after Gaddafi surrendered to the AlCiada fighters they buggered him with a stick and a rifle before executing him, they must have been off sick the day of the lecture on the Geneva Convention.

By on Dec 3, 2011 This week Max Keiser and co-host Stacy Herbert discuss big bazookas, dead whistleblowers and Hank Paulson. In the second half of the show, Max talks to Jon Thorisson about the new Eva Joly Institute and Iceland's ongoing fight for justice.

Qbo for President

At least you will be able turn him over and read where he was made, unlike the current President.