mojo's Account Talk

[Steadygain]

I think it's late to start chasing this rally but with the way it's going today tomorrow looks like another up day.

No idea what could be pushing this... but that's all the better

I hope tomorrow is a super gainer as Rallies don't need anything but enthusiasm

 

[mojo]

The Size of the Derivatives Bubble = $190K Per Person on Planet
The Invisible One Quadrillion Dollar Equation

According to various distinguished sources including the Bank for International Settlements (BIS) in Basel, Switzerland -- the central bankers' bank -- the amount of outstanding derivatives worldwide as of December 2007 crossed USD 1.144 Quadrillion, ie, USD 1,144 Trillion. The main categories of the USD 1.144 Quadrillion derivatives market were the following:

1. Listed credit derivatives stood at USD 548 trillion;
2. The Over-The-Counter (OTC) derivatives stood in notional or face value at USD 596 trillion and included:
a. Interest Rate Derivatives at about USD 393+ trillion;
b. Credit Default Swaps at about USD 58+ trillion;
c. Foreign Exchange Derivatives at about USD 56+ trillion;
d. Commodity Derivatives at about USD 9 trillion;
e. Equity Linked Derivatives at about USD 8.5 trillion; and
f. Unallocated Derivatives at about USD 71+ trillion.
​

http://www.globalresearch.ca/index.php?context=va&aid=12753

 

[mojo]

AIG's Bonus Distraction

"More important, the bonus issue is distracting from a bigger mess: the $44 billion in taxpayer funds AIG paid out to make good on payments due other financial firms. That sum includes $7 billion to Barclays (nyse: BCS - news - people ), $6.4 billion to Deutsche Bank (nyse: DB - news - people ), $4.9 billion to BNP Paribas (other-otc: BNPQY.PK - news - people ), $3.3 billion to HSBC (nyse: HBC - news - people ), among others. Many of those payments went, without restriction, to the coffers of the same Wall Street banks who paid out $20 billion in bonuses in 2008."

http://www.forbes.com/2009/03/16/bailout-bonus-aig-business-washington-aig.html


What a joke, all the politicians are outraged over 165 million in AIG bonuses. How can anyone take any of these guys seriously.

 

[Warrenlm]

Numbers that would be staggering in other times. I wonder how much that is in petaflops.

 

[mojo]

The Looting of America’s Coffers

Sixteen years ago, two economists published a research paper with a delightfully simple title: “Looting.”

http://www.nytimes.com/2009/03/11/business/economy/11leonhardt.html

 

[mojo]

Fed to Buy Up to $300 Billion Long-Term Bonds

http://www.cnbc.com/id/29755961

Look at gold after this news came out

http://www.kitco.com/charts/livegold.html

 

[mojo]

Dollar Index

http://finance.yahoo.com/q?d=t&s=UUP

 

[mojo]

http://www.youtube.com/watch?v=ZPlDffneO94&eurl=http%3A%2F%2Fwidget%2Emibbit%2Ecom%2F%3Fsettings%3Dff3403fbb3ef3218f435c6c8a9a3c0ca%26server%3Dirc%2Erizon%2Enet%26channel%3D%2523rchat%26noSe&feature=player_embedded



http://www.youtube.com/watch?v=pKFK...channel=%23rchat&noSe&feature=player_embedded

 

[mojo]

Wednesday, March 18. 2009


Posted by Karl Denninger in Federal Reserve at 12:29
(Page 1 of 272, totaling 815 entries) » next page
Caution On Quantitative Easing (QE)

Be warned Ben....
The BOE executed their first "QE" operation today.
The "bid to cover" was an astonishing 7.35.
This means that for every bond purchased 7.35 were tendered, or made available by willing sellers

http://market-ticker.denninger.net/

 

[mojo]

How Deflation Creates Hyperinflation

I keep reading about the dollar being a "new multi-year bull market" and that the US is headed for "Japan style deflation". Frankly, it is a little tiring. The people making these arguments should know better.
Deflation vs Hyperinflation

Yes, there is debt deflation, and the overall money supply is shrinking as a result. However, those calling for "multi-year bull market" for the US dollar are insane. These individuals need to review basic monetary theory. The money supply is only one of three factors that determine whether prices rise or fall. The other two are the changes in the velocity of money and the real output of the economy. The danger of hyperinflation lies in a dramatic increase in the velocity of money due to a loss of confidence, not in changes in the money supply.

How Deflation Creates Hyperinflation

1. Deflation slows the speed of money to crawl due to fears about the deteriorating economy. The public hoards cash, or, in the case of the US, short term treasuries.
2. The slowing speed of money and debt destruction force the government to create huge quantities of cash to prevent prices and the economy from collapsing. However, because the public is hoarding cash (or short term treasuries), most of the money doesn't reach the real economy, which leads the central bank to print even more money. In essence, cash hoarding acts as a dam, preventing the enormous quantities of printed money from affecting prices.
3. Deflation weakens economy until it leads to a loss of confidence. With doubts about the government's solvency growing, the velocity of money quickly picks up speed, and a flood of hoarded cash comes out of hiding, entering the marketplace all at once and creating hyperinflation.

http://dollardaze.org/blog/?post_id=00546

 

[mojo]

http://www.dickreuter.com/res1.php

 

[Steadygain]

http://money.cnn.com/2009/03/19/markets/gold.reut/index.htm

GOLD was a good buy !!

3 week high and looking good


He bad production
He got MOJO filter
He got hair down to his knees
Got to be a joker he just do what he please ...

 

[Handballer]

I fear the 1,000 point pop to scare the day lights out of all the new short sellers. We'll have to call Harvey Keitel to clean up the mess. Only 922 SPX points to go to restore my credibility. What can you buy with $10 trillion dollars.[/quote
I'd like one of those 42" color televisions I hear about. Add cable if enough left over.

 

[Handballer]

Thomas Payne was great. I had to watch it again. And he made the speach without any teleprompters.

 

[Handballer]

I've used my quota of words for today so I won't say anything bout Glen Beck....... OK, He didn't use any teleprompters. Seems most good talkers don't need them.

 

[mojo]

Thomas Payne was great. I had to watch it again. And he made the speach without any teleprompters.

Hi Handballer,
saw a funny teleprompter mistake by Obama yesterday but haven't found it on youtube yet.

 

[mojo]

http://money.cnn.com/2009/03/19/markets/gold.reut/index.htm

GOLD was a good buy !!

3 week high and looking good


He bad production
He got MOJO filter
He got hair down to his knees
Got to be a joker he just do what he please ...

Hi Steady,
yea big jump

 

[justbizness45]

Hi Steady,
yea big jump

Silver ain't lookin' bad either!!

 

[mojo]

Silver ain't lookin' bad either!!

Yes silver actually did even better

 

[mojo]

This is from 08 and doesn't include whats been added in 09. I just keeps going strait up like that indefinately. Everything looks good right?