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The credit bubble Subprime scandal banking doom and gloom news The credit bubble Subprime scandal banking doom and gloom news
Hi folks,
As there is so much going on in the world of fiat finance, I have created this page to place links to commentary of the on going melt down, credit crunch, dollar default, derivative dive, SIV (Stupid investment vehicle), ARMs (are you really that mental), CDO’s (crazy debt obligations or crash dive to oblivion), subprime scandal and what ever other crazy piece of shiggle that is happening.

September 28th, 2008, Market info from Karl Denninger
Here are 3 video commentory entries from Karl Denninger. I have always found Karl to be a great source of insite. Checkout his site Market Ticker To help undersand some of market turmiol that is happening in the US as of now.

Go Viral: STOP THE BAILOUT OR.... DEPRESSION? - September 27, 2008.


Fed bailouts on Wall street - September 17, 2008.


Halt on short selling financials - September 18, 2008.


July 26th, 2008 : Paper Sold To Pools Of Liquidity - International Forecaster Weekly
Vast unexploited oil reserves? An economic threat from too much oil? Dark pools of liquidity, threats of hyperinflation from unsound economy and Fed practices, remembering the lessons from The Great Depression, reactionary measures to protect the dollar, An examination of a crisis scenario.....
Read the full story

May 10th, 2008 : Alec Blackhall
It just goes to show, even in New Zealand there is a pre empting for liquidity issues in the foreseeable future due to "international financial market turbulence". Provisioning is been made to extend the range of securities that will be eligible for acceptance in its domestic liquidity operations. Makes you want to go hmmm....
Read the full story

February 26th, 2008 : Alec Blackhall
I was talking with some friends in the states they were telling me that there is some hard hitting stuff happening, much more than is let on on the News. Things are really bad but they don’t really want to tell the public how bad it really is.
Here is a site you might find interesting. The Bank Implode-O-Meter, Your play-by-play for the end game of modern banking. Tracking the ensuing implosion of the modern banking system.......
Read the full story

February 8, 2008, Nadeem Walayat : UK Housing Market Will Continue to Fall Despite Interest Rate Cuts
UK House prices fell by £4,000 (2.1%) in January 2008 (Halifax), the average price falling to £191,275, down £9,806 (4.8%) from the August 2007 peak of £201,081. The Market Oracle forecast as of August 2007 is for a fall in average house prices of 15% over two years to August 2009......
Read the full story

February 8, 2008, Michael Fox : The Depression Enters Phase Two
Egg, a British online bank, said it would cancel the credit cards of 161,000 customers it deemed too risky. The cards will stop working in March. The news provoked angry reactions from some credit-card holders who claimed their credit records were spotless. Egg was acquired by Citigroup last year, before the deterioration in money markets. [From The Economist, Feb. 7, 2008].....
Read the full story

February 4, 2008, Ty Andros : 2008 Outlook: Thrill Ride, Part 4
The price structure of the world#8217;s commodities, natural resource and metals markets are about to undergo PERMANENT generational repricing. UPWARD! The prices you remember for the past several decades for these sectors will probably never be seen again and the old highs will now be the new lows in their prices.....
Read the full story

January 22nd, 2008... Australian shares crash dive 7%
Australian shares plunged a massive 7%, their biggest one-day decline in more than 18 years, as panic selling set in among investors ...
Shares in freefall

January 22, 2008, Mike Adams : The Coming Financial Collapse of America (and Why Today’s Market Bloodbath is Only a Small Taste of Things to Come...)
The U.S. economy, as any astute financial observer has noted for years, is running on artificial wealth that has been manufactured by the Federal Reserve and swallowed by gullible consumers chasing that pot of gold at the end of the easy money rainbow. An alarmingly large percentage of U.S. economic activity is driven by consumer spending and the taxation of such activities. So when housing prices plummet and consumer bankruptcies start piling up, here’s what we’re going to see next.....Read the full story

January 19, 2008, John Mauldin : Credit Default Swaps: The Continuing Crisis and Big Story for 2008
I said three weeks ago that the big story for 2008 would be the counter-party risk for credit default swaps. That story is coming faster and larger than I thought. Bill Gross of Pimco suggests that the ultimate cost could be another $250 billion dollars on top of the $250-plus billion in subprime losses. That means we have only seen the tip of the iceberg in write-offs in the financial sector.....
Read the full story

January 19, 2008, Anthony Cherniawski : Bush’s Election Year Tax Cut Gimmick as Wall Street Tumble Continues
The Bush administration and the presidential candidates are all vying for who can offer the most attractive stimulus to voters rather than offer the best solution for a healthy economy......
Read the full story

Alec Blackhall, 18th January, 2008... Something is happening
It sure has been hot for the last few weeks and I have been down the beach and having a great break with my family. Well there certainly has been lots happening lately, The financial markets are not looking good. To me it looks as if there is a recession happening. I have been reading commentary from different analysts and it all looks like doom and gloom. Here is a link to an article Posted On: Thursday, January 17, 2008, "The Panic Starts" by Jim Sinclair. It could be the "big one" - only time will tell..
read about it here

January 18, 2008, Rob Kall : When All You Think You Have to Fix the Economy is A Prime Rate Cut and Tax Rebate.... You Better Think Again
There’s no doubt that Bernanke will lower the rates soon, and probably a few more times. It’s like crack cocaine to the investment world-- a quick fix, big high, but short lasting. It is an act of desperation by a man attributed with a lot of power who really doesn’t have that much power......Read the full story

January 18, 2008, Gary Dorsch : Federal Reserve plays Russian Roulette with the US
It wasn’t shocking to hear Federal Reserve officials insist last week, that inflation in the United States is under control, before telegraphing another tidal wave of liquidity injections into the US.....
Read the full story

January 5, 2008, Jim Willie CB : Enter 2008: The System Breaks
The year 2008 will be the year that THINGS JUST PLAIN BREAK. It will be a truly deadly year, unavoidably lethal to the US Economy and especially to the US banking sector. Nothing has been repaired.....
Read the full story

January 5, 2008, Michael Shedlock : An Asymmetrical Unwind of the Credit Bubble
Assuming we do muddle through, there is still a strong likelihood for a continued asymmetrical unwind of the credit bubble....
Read the full story

January 5, 2008, United States money issues
I was emailed a link to this video. It is a worth while watch and explains how the US is on a one way trip to somewhere.


January 3, 2008, United States Transfer of Sovereignty to Sovereign Wealth Funds
As I said in a previous post "slaves going cheap". This is a great article by Nadeem Walayatto to give some in depth understanding how the US and up and coming slave provider, the UK are selling out to SWF (that is not a single white female !!))
Read the full story

2nd January, 2008...U.S. Stocks nose dive 200+, Sending Dow Average to Worst Start Since 1983
U.S. stocks tumbled, led by banks and computer companies, after the biggest decline in manufacturing in five years sent the Dow Jones Industrial Average to its worst start since 1983.
Read the rest here

Crude Oil Tops $100, Closes in on All-Time Record
We are facing very real dangers, and $100 oil is a warning sign our leaders must not ignore. The economic fundamentals say the price will only continue to rise over the long term. Read the rest here

December 28, 2007, Saxo Bank�s �outrageous predictions� grim
A UK recession. A 25 per cent drop in the S&P 500 from its 2007 high. China�s stockmarket down 40 per cent. Oil pushing $175 p/b and continued underperformance of G3 currencies.
These are Saxo Bank�s outrageous predictions for the year ahead. And if it proves true, economic conditions in 2008 will be grim....Read the full story

December 26, 2007, Les Christie, CNNMoney.com "Home prices post record decline"
S&P/Case-Shiller index of 10 major cities fell 6.7% in October. Housing markets remain grim. Home prices fell 6.7 percent in October, compared with a year ago, according to the S&P/Case-Shiller 10-city home-price index. It was the largest drop recorded since the index began in 1987. It marked the 10th consecutive month of price depreciation and 23 months of decelerating returns."This is just the beginning," said Peter Schiff, a Darien, Conn.-based investment adviser known for his bearish views of the housing market...
Read the full story

December 24, 2007, Alec Blackhall "Slaves going cheap"
I have been reading about Sovereign wealth / investment funds buying up US companies at fire sale prices. With the deal, you also get free slaves to the system thrown in. (Basically the population of the US) It is a sad state of affairs with the layman on the street being the one that will eventually pay the price. The writings on the walls. Just look at the bonus that Goldman Sachs Group Chief Executive Lloyd Blankfein received this year ($67.9 million). Come on, what for ? GS are behind the dollar dealing big time.

December 21, 2007, Alistair Barr / MarketWatch "That’s one of the largest executive bonuses in history"
Goldman Sachs Group Chief Executive Lloyd Blankfein got a $67.9 million bonus for 2007, according to a regulatory filing by the investment bank Friday. The bonus includes $26.8 million in cash and restricted stock units worth $41.1 million, the filing said. Blankfein was the highest-paid executive at Goldman during the firm’s 2007 fiscal year. The filing also noted. "That’s one of the largest executive bonuses in the history of the universe," said Bill Coleman, senior vice president of compensation at Salary.com."....
Read about this

December 20, 2007, The Mogambo Guru "To Negative Infinity - And Beyond"
"In short, the banks loaned every additional dime of the trillions of dollars that they took in! And then more on top of that! No additional reserves at all! Not a freaking additional dime of reserves has been added in a decade or more!"....
Read about this

Alec Blackhall - 19th December, 2007...Put a tick in the box - "hey we (ECB) have just spun up 500 billion. That is $500,000,000,000 USD. thank you very much and have a great Xmas you peasants - now back to work"
It really isn’t liquidity though but rather a simple book entry on the ECB’s balance sheet. This has to be one of the biggest fiat scams this century to date !!!. Take Weimar Germany, circa 1923. As that country’s monetary problems worsened, the central bank (Reichsbank), in the delusional thinking of that day, printed one-half trillion of Reichsmarks. It also had the aim to provide liquidity. What happened next ? what you could buy a house would only get you a loaf of bread in the following months. Read about the banking doom on a new page added called
"Credit crunch news" to NZSilver.com that is devoted to following the fiat dollar doctoring.

December 19, 2007, The Prudent Investor "Worthless Billions Won’t Solve a Trillions Problem "
Welcome to the inflationist days. Central banks are pouring money in unprecedented amounts into markets reeling from an insolvency crisis that cannot be solved by throwing artificially created bills of credit onto a market while accepting dubious collateral.....After all what is a few hundred billions of Euros for all European banks when only the off-balance risk of the banking sector of tiny Austria reels under 2.1 trillion of derivatives risk while having equity of only 73 billion Euros, according to data compiled by Oesterreichische Nationalbank.....Read about this

December 19, 2007, Gary North "The World’s Largest Banks Are Now Trapped"
It has visibly begun to unravel. The European Central Bank on Tuesday, December 18, opened a line of credit of $500 billion to commercial banks....
Read about this

December 18, 2007, James Turk "Print, Print, Print"
Let’s flash back to Weimar Germany in 1923. As that country’s monetary problems worsened, the central bank, the Reichsbank, in the misguided thinking of that day printed one-half trillion of Reichsmarks. It also had the aim to provide liquidity.
Is there anything essentially different between what the Reichsbank did and what the ECB just did? Absolutely not....
Read about this

December 18, 2007, Mike Whitney "The collapse of the modern day banking system
"Most people have no idea how grave the present situation is or the disaster the world will face if trillions of dollars of over-leveraged bonds and equities begin to unwind".... One of Britain’s leading economists, Peter Spencer, issued a warning on Saturday: "The Government must suspend a set of key banking regulations at the heart of the current financial crisis or risk seeing the economy spiral towards a future that could make 1929 look like a walk in the park."
Read the rest here

December 16th, 2007, Alec Blackhall "CDO’s SIV’s and now TAF’s What is happening in the backrooms? And what is a TAF?"
These little TAFs (Term Auction Facility) as they were promoted in the business news that Ben and the boys have spun up, will enable banks to get short term loans without going to the discount window so the whole world won’t know how screwed for cash they really are. Loans from the discount window are public. These TAF loans are supposed to be fully collateralized but if you read more (read this full commentary) to what constitutes collateral then you will see such little jewels as home mortgage loans and CDO’s count to the tune of 89% of their value. How much did these things fall in a single day last month? How much are they really worth?? About as much as the paper they are printed on.

This tracks closely with the amazing recovery in the US dollar in the last day or so as well. How is all this getting engineered? My guess is that it has something to do with this shady TAF deal that Ben and fed friends slipped through.

The Fed and US Treasury cannot let the precious metals perform their true economic function. In the past three months, the repeat of the first 3rd of December’s performance of the price of gold and silver during the NY COMEX has become so obvious as to be laughable. They no longer make any pretense whatsoever at subtlety in their blatant manipulations... and yet the metals rebound right back up again - over and over. The debt doctors just can’t allow gold to establish a floor over 800 and silver over 15. Or they will lose total control of the whole jerry rigged scam they have created. All they are doing is just throwing more petrol on the fire. Un-fortunately for them, this little ploy will eventually fail, as it has time and time again the past for other currencies. (And they know it - talk about sweat the debt!!) Read the rest here

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