Baron, das sage ich dem die ganze Zeit aber kapiert es nicht.
In Bayern soags Wichtigmacher vastehst ?
The Fannie/Freddie Mess
Now we know. The giant black hole of derivatives at JPM is about to become the size of Jupiter. With the utter failure of Fannie and Freddie (a culmination of what I predicted 12 years ago) Fannie and Freddie's massive derivatives portfolios can now be hidden from public scrutiny. These trillions of derivatives, which in likelihood have already failed, can now be whitewashed with the able assistance of the US taxpayer. Also the true values of their mortgage portfolios gets deep-sixed. This is no doubt the single largest financial failure in the history of the world. The Fed had every reason to previously discontinue M-3 reporting. Can you imagine what is about to happen to the dollar supply once this catastrophe starts getting paid for? Look for wild market gyrations as these derivatives get dealt with by the insiders who will now know both sides of the trade. What a deal, the taxpayer backs you and you know both sides of the trade, how can you lose? The derivatives may now become hidden from view, but the inflationary implications will become VERY evident. Another ominous problem facing FNM and FRE is a collapse in their pension plans and retirement funds. Retirees and current employees holding FNM/FRE stock will get wiped out, however a pension fund collapse would mean open revolt. This is another side-bailout I see coming.
Since FNM/FRE's gigantic derivatives allegedly hedged against rising interest rates I think it's safe to say you won't be seeing any Fed interest rate hikes coming soon.
This government takeover of the largest financial entity in America has in one fell swoop put into question ANY guarantee of debt, sovereign or otherwise.
With this news gold should be up hundreds, maybe a thousand dollars if free markets were allowed.
They will need to throw the kitchen sink at paper gold to prevent it from revealing the truth of what just happened.
US Treasury bond prices now look egregiously high. This time it might not work. Next up for the weekend-only government news release program? Bailouts for GM, Ford, the entire banking industry, and who knows, if I'm hearing Bill Gross correctly maybe even PIMCO.
James McShirley
Milly, ..,monetären Charakter kriegen, das fehlt bei Silber, aber wer weiss vielleicht kommt das auch wieder wenn die Fiat Party vorbei ist.
Papier Silber VS Physisches ....wie geht der Kampf aus ?
Hommel dazu :
I believe that this is the first major "hidden" default, or emerging default, that has the potential to cause the bankruptcy of the Perth Mint, and/or bankruptcy and/or silver default at the COMEX, if they are not all bankrupt already.