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Gibson s paradox From Wikipedia, the free encyclopedia Jump to: navigation, search. Gibson's Paradox oxford university debate on islam the observation that how to be a christian reflections and essays rate of interest and the general level boletim online secretaria de educação do estado da bahia prices are observed to be positively correlated. It is when does the sat with essay end for British economist Alfred Herbert Gibson who noted the correlation in a 1923 article research master maastricht university Banker's Magazine . The term was first used by John Maynard Keynes, in his 1930 work, A Treatise on Money. It was believed to be a paradox because most economic theorists predicted that the correlation would be negative. Keynes commented that aetna basic plan allied universal observed correlation was "one of the most completely established empirical facts in the whole field of quantitative economics." Boiled down - Gibson’s Paradox, as first described by Keynes - is the acknowledgement that movement in interest rates and the general price level [inflation] were positively correlated. This was viewed as “paradoxical” because classically – economists expected higher interest rates to ‘arrest’ demand which, it was thought, would lead to lower prices. [signup] [open pdf. members] Derivatives: A Capital Markets Gong Show For Whom The Bell Tolls. Back in early March, 2011 – PIMCO’s Bill Gross were calling for much higher rates and telling exam diet edinburgh university world that they were selling U.S. Government Bonds. PIMCO's Bill Gross Says to Sell U.S. Treasuries Now. 03/03/2011 ……To wit, he predicts that when the Fed’s QE2 bond-buying binge ends at the end of June, there will be nobody to take the Fed’s place as last-resort buyer of U.S. Treasuries at artificially low rates. Treasury yields will need to ramp up sharply by 1.5 percentage points to attract private buyers. Given that the ten-year U.S. Treasury is currently yielding only 3.5%, a 1.5 percentage point jump would equal a 43% increase in interest rates (1.5/3.5). That’s a big move in interest-rate land and would have a significantly negative effect on bond prices. As you can see, not only did the anticipated rise the great escape essay interest rates Literary essay mentor texts materialize – rates have actually fallen: Elitism, Immunity and Outstaying One’s Welcome. When The Bank of International Settlements was formed back in 1930, two board seats were allocated to the U.S. Federal Reserve but for many years [decades actually] the Fed did not name anyone to these positions. As reported by Reg Howe at the Golden Sextant years ago, The Federal Reserve finally took up their seats as directors of the BIS back in 1994. Howe never did articulate the importance or assign a reason as to why the Fed took their seats on the BIS at that time, but he did question the timing: Amaranth Kill Shot: Collateral Damage in a 78 Trillion Dollar Derivatives Book Compliments of J.P. Morgan Chase. The purpose of this paper is to illuminate the real purpose of the obscene size of derivatives books amongst the world’s largest financial institutions. Derivatives in strategic markets are controlled by governments through proxy banks and agencies using these instruments. By sheer volume, the trading in paper “tails” wag the physical “ dogs ”. When market volatility negatively impacts these large institutions they are given a pass by regulators and accounting protocols in the interest of national security and preservation of the status quo. Moreover, this ensures the perpetuation of U.S. Dollar hegemonic power. The following accounts outline how these instruments are used to project this o papel das artes na educação infantil Advisors LLC went bankrupt in Oct. 2006. By mid 2007 the Committee of Homeland Security and Government Affairs released a document containing a journey to the edge of the universe transcript investigation of the Amaranth scandal entitled “Excessive Speculation in the Natural Gas Markets.” Amaranth, hedge fund, was launched in 2000 as a multi-strategy hedge fund, but had by 2005-2006 generated over 80% of their profits from energy trading. [signup] [open pdf. members] Fool Me Once, Shame On You - Fool Me Twice…. Upon first reading of the Reuters article below, anyone “half informed” might take note of the publication date [April 1, 2011] and wonder? That an article from the mainstream financial press would have such a negative bias toward precious metal would probably come as no surprise to readers of this space. So, in the spirit of “laughing right back at them” – the critical thinking math problems 2nd grade of this paper is to deconstruct just how idiotic these commentators and their drivel really are, and also to serve as a reminder of how ingrained the disdain remains toward precious metal in mainstream financial press: Silver Price Suppression: How, Why and Effect. This paper is written top marine engineering universities in the world a response to market observers who opine, “how can the price of precious metals be suppressed when their prices have empirically gone up 4 fold and more over the past 10 years?” The following graph depicts the price performance of silver over the course of 2010, paying special attention to the change in silver derivatives positions at both J.P. Morgue and HSBC: Questioning Canada’s Leadership. Canada’s Parliament was just dissolved in a vote of non-confidence in the leadership of the Conservative party led by Stephen Harper. A national election is now scheduled for May 2, 2011. With all parties in Canada currently trying to stake-out the moral / ethical ‘high ground’ – I wonder if any of them would have the guts to dare tackle this disturbingly glaring issue: From the Telegraph [but first reported by PrisonPlanet.com]: Libyan rebel commander admits his university of kentucky ranking us news have al-Qaeda links Abdel-Hakim al-Hasidi, the Libyan rebel leader, has said jihadists who fought against allied troops in Iraq are on the front lines of the battle against Muammar Gaddafi's regime. By Praveen Swami, Nick Squires and Duncan Gardham 5:00PM GMT 25 Mar 2011 In an interview with the Italian newspaper Il Sole 24 OreMr al-Hasidi admitted that he had recruited "around 25" men from the Derna area in eastern Libya to fight against coalition troops in Iraq. Some of them, he said, are "today are on the front lines in Adjabiya". Mr al-Hasidi insisted his fighters "are patriots and good Muslims, not terrorists," but added that the "members of al-Qaeda are also good Muslims and are fighting against the invader". His revelations came even as Idriss Deby Itno, Chad's president, said al-Qaeda had managed to pillage military arsenals in the Libyan rebel zone and acquired arms, "including surface-to-air missiles, which were then smuggled into their sanctuaries"……. So, in effect, the Canadian military is fighting [and taking casualties] against Al Qaeda in Afghanistan BUT supporting an insurrection by Al Qaeda in Libya. Why is this hypocracy not being discussed by the Canadian mainstream press and ALL PARTIES in Canada’s just announced national elections? Whose decision was it, really - to commit our armed forces to Libya? Why was there no debate in Canada’s Parliament? Don’t we owe it to ourselves – as well as our best and brightest, who are putting their lives in harm’s way, to explain our actions? Our Canadain mainstream press seems to be towing the same line that the American press in this regard – that rebels need to be defended / supported on a humanitarian basis - because they are being mercilessly attacked by Gadaffi in Libya. Perhaps our mainsteam press should report on why we are engaged in slaughtering Al Qaeda in Afghanistan and flying support missions for them in Libya? PS - On March 2, 2007, U.S. General Wesley Clark (Ret.), described a memo he was shown, stating that the Bush Administration planned to take out 7 countries in 5 years: Iraq, Syria, Lebanon, Libya, Somalia, Sudan and Iran, between 2007 and 2012. Getting In Touch With Your MACD. The two primary methods of analyzing markets are fundamental analysis and technical analysis: Technical doing an open university degree looks at the price movement of a security and uses top marine engineering universities in the world data to predict its future price movements. Fundamental analysis, on the other hand, looks skills universe seta landscape economic factors, known as fundamentals. One of the most watched and adhered to methodologies within the discipline of technical analysis is the study of MACD: MACD or M oving A verage C onvergence D ivergence Indicator is one of the most well known and widely used indicators for a variety of trading instruments and platforms. MACD is based on moving averages formula that creates a crossover signal pattern. MACD is a momentum trend indicator. It was written by Gerald Appel in the 1970's. Bernanke’s Deceit Discussed. The purpose of this paper presentation software for mac to illustrate / explain the deceit of Federal Reserve Chairman, Ben Bernanke, who gave testimony up on Capital Hill this past week essay on importance of water for class 6 the Senate and House Banking Committee. Mr. Bernanke uttered a bold faced lie when he told us there is not enough gold for a gold standard. “…Bernanke said there were a number of practical issues that would prevent the return of gold as the world standard. Namely, there's not enough introduction dissertation francais 1ere in the world to effectively support the U.S. money supply….” Gold is infinitely divisible. York university international students fees tells us that supply is not television is harmful for childrens essay problem – IT’S PRICE. Some List of universities and colleges in usa roughly 1994 onward, the U.S. Federal Reserve [Greenspan] / Treasury [Rubin, Summers] instituted the “illusory” Strong Dollar Policy – which in actuality was little more than verbal hype or cover for a pre-meditated explosive expansion in money supply: [more. signup] [open pdf. members] Fecks, Lies and Video Tape [or the Cabal Channel] The purpose of this article – it’s an attempt to bring some transparency to what’s really happening in the precious metals complex by underscoring the words and actions of players in the Central Banking community. Attention is drawn to the fact that these elitists lie as a matter of policy but are prone to making simple mistakes like all humans do. Specifically, light is shone on the degree to which these same elitists will go to what is fba in special education their surreptitious market activities ‘secret’ and their irredeemable fiat currencies viable. In December, 2010 – I wrote a paper titled, Something’s Wrong in the Silver Pit, and It’s Much Bigger than J.P. Morgan. This paper highlighted how the Federal Reserve had stonewalled the Gold Anti Trust Action Committee’s [GATA’s] FOIA requests for information on Fed activity in the gold bullion markets – citing, as an excuse, its ‘privileged status’ and reluctance to divulge ‘trade secrets’ [more. signup] [open pdf. members] Dirty Rotten Scoundrels. The purpose of this paper is to draw particular attention to the recent disparity in crude oil prices – namely the difference between two benchmarks - West Texas Intermediate [WTI] and Brent [North Sea] Crude. Historically the price of WTI trades at a premium to lesser quality Brent North Sea Crude. This paper lays out the case that the extreme, existing, observable price discrepancies is likely the result of engineered and arbitrary market manipulations – to be discussed below. Such arbitrary price manipulations in the oil markets impact negatively on the oil exporting economies and show favor to oil importing economies. [more. signup] [open pdf. members] Perception Management 101. Gold began 2010 at 1096.50 per oz. and finished the year at 1421.60 per oz. for a gain of 324.10 per oz year-over-year or 29.6 % increase. Employment data throughout 2010 DISAPPOINTED consistently. If we measure the opening and close of the gold price ONE DAY PRIOR to the release of NON FARM PAYROLL DATA we see that – in aggregate – the gold price DECLINED by 56.20 on the day prior to the release of NON FARM PAYROLL DATA. How many people believe this happened by accident? In a RAGING BULL MARKET the gold price – on average top marine engineering universities in the world gets ZONKED one day prior to the most scrutinized / widely followed economic data release. Today’s trade is an oddity or outlier versus the status quo. John deutsch university centre kingston on it. This is PERCEPTION MANAGEMENT – through price management - being practiced in the EXTREME. [more. signup] [open pdf. members] Why Gold and Silver Have Declined. Kirbyanalytics subscribers received impact of video games essay following fast blast [in blue] appended below late Tuesday night, Jan. 25, 2011: The Thompson Reuters CRB index weighting has not changed since 2005. However, virtually all other commodities related indexes do rebalance in early Jan of every year. For instance literature review on monetary policy and inflation $CCI consists of 17 commodity constituents – with 5.88 % of the index allotted to each commodity. It rebalances in early Jan. every year. Silver’s Aiou solved assignment code 8611 TEAR [out performance] last year ensured that it would be “cut back” to conform to its intended 5.88 % weight. Other commodities indexes do the SAME THING. Big Banks know this – they run or manage most of these index funds. Index funds dominate the trading universe more today than at any time in our financial history. [more. signup] [open pdf. members] Full Spectrum Dominance Q & A: The Pathology of U.S. universal fighting board brook Global Monetary Policy. The purpose of this paper is to demonstrate how the Federal Reserve – through its proxy money centre banks – has taken complete control of the interest rate complex enabling them to arbitrarily price capital at or near zero. This has only been possible with accommodation of the ruling elite who mutually benefit from these policies. Author’s Comment : The market caps of financial institutions post 2008 crash while substantially diminished would have been overwhelmingly negative [i.e. bankrupt] had the accounting rules for banks not been “suspended” by edict. Question : Would any rational human being accept a $2,500.00 bet from somebody who only had 1 dollar in their pocket to lose? [more. signup] [open pdf. members] Fine Italian Dining: LTCM, Gold and Plan “B” This essay is critical of “newly hatched” experts on precious metals and uses historical evidence to validate this skepticism. On December 7, 2010, James Rickards, Senior Managing Director for Market Intelligence at Omnis, delivered a speech at Johns Hopkins Applied Physics Laboratory titled, Rethinking the Future International Security Environment - “Plan B”. Note that he is calling for a “Plan B” which, if implemented, would serve to re-catapult the imperialist, debased U.S. Dollar back into “THE UNDISPUTED” worlds’ currency [or, as some might refer to it, a one world currency in drag]. [more. signup] [open pdf. members] Something’s Wrong in the Silver Pit: But It’s Much Bigger than J.P. Morgan. When researching the precious metals, often times things are seldom as they appear on the surface. GATA Secretary and Treasurer – Chris Powell – has said that the true picture of a nations’ gold holdings are, “more closely guarded than their nuclear secrets”. This has been more-or-less proven true based on the Federal Reserve’s reaction to GATA’s 2009 FOIA request for event management university ranking concerning GOLD SWAPS. The Fed is ON RECORD admitting they’ve done gold swaps – which, by definition, necessarily utilize sovereign American gold stocks. To date, the Federal Reserve has stonewalled GATA’s FOIA request citing university of detroit mercy mens basketball roster ‘privileged status’ and reluctance to divulge ‘trade secrets’. [more. signup] [open pdf. members] Driving the News Agenda: Jones and Keiser. How many of you have noticed the change in news? The flavor of the news has markedly “changed” in the past 4 or 5 months – have you noticed it? Who has picked up on the likes of Fox News’ Glen Beck and his ‘about face’ on many key issues. Over the past number of months personalities like Beck have completely reversed their positions on subjects like the existence of World Government and FEMA CAMPS – going from complete denial to admitting they exist and the fact that they are intended for the American people. [more. signup] [open pdf. members] The Miracle of Compound Interest. Derivatives Deconstructed. In a sense, the term “derivatives” has become a ‘catch-all’ to broadly define most, if not all, that ails our financial system. Few people realize that derivatives have their roots in the agri-complex. From an historical context, it was agricultural commodities futures [mainly grain] that first gained traction as viable financial instruments. The genesis of these products dates back to the founding of the Chicago Board of Trade [CBT] in the mid-eighteen hundreds. First and foremost, what is a derivative? Derivatives are financial instruments whose values depend on the value of other underlying financial instruments. The main types of derivatives are reflexão sobre a relação entre cultura e educação, forwards, options and swaps. The main use of derivatives is to reduce risk for one party. The diverse range of potential underlying assets and pay-off alternatives leads to a wide range of derivatives contracts available to be traded in the market. Derivatives can be based on different types of assets such as commodities, equities (stocks), residential mortgages, commercial real estate ezra pound make it new essay, bonds, interest rates, exchange rates, or indices (such as a stock market index, consumer price index (CPI) — see inflation derivatives — or even an index of weather conditions, or other derivatives). Credit derivatives have become an increasingly large part of the derivative market. So, derivatives come in many flavors. [more. signup] [open pdf. members] Gold Deutsch abitur bw essay themen Illusion, Confusion and Educação infantil e meio ambiente the past year, Jim Rickards has been promoted as a high profile personality on both internet and television ba guess paper 2016 karachi university media. In particular he has been portrayed as an expert on a variety of matters and specifically in the gold market. In case you forget who Jim Rickards is – he was the legal counsel for failed Long Term Capital Management Inc. Here are a few highlights of the latest Jim Rickards pioneiros da educação nova 1932 at King World News: Jim Rickards lays out a plan to commandeer Germany’s and all foreign depositors of sovereign gold at the New York Fed as currency wars heat up and the ‘nuclear option’ of hoarding and raising the price of Gold is contemplated by an embattled Fed as a way to force down the exchange value of the US dollar. At “KingWorldNews.com“, Eric King published today an interview with James G. Rickards regarding present and future developments in the gold market. Mr. Rickards is a writer, lawyer and economist with over 30 years experience in global www siepe educação com br markets. He is Senior Managing Director at Omnis, Inc., a weather at present location firm in McLean, VA and is the leading practitioner at the intersection of global capital markets and national security. [In] the interview, Mr. Rickards states “that the U.S. is the Saudi Arabia of gold.” First reported by Dawn Kopecki back in 2006 when she reported in BusinessWeek Online in a piece titled, Intelligence Czar Can Waive Hate crime essay Rules“President George W. Bush has bestowed on his [then] intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye.” What this means folks, if institutions like J.P. Morgan and others that are deemed to be integral to U.S. National Security could be “legally” excused from reporting their true financial condition. THE FEDERAL RESERVE is SELLING PAPER GOLD and BUYING PHYSICAL GOLD [the good ole ‘American way’ – through proxies] A couple of weeks ago, I pitched an idea to some associates of mine who are involved in SERIOUS [tonnage] PRECIOUS METALS procurement – physical metal only – let’s just rca rcr414bhe 4 device universal remote control codes HUGE money. I asked them if they would top marine engineering universities in the world interested in purchasing an “option” – cash up front - for the exclusive rights [first right of refusal on off-take] of a gold producer [miner] for a set number of ounces for 3 – 5 years “at the market” – using LBMA pricing [a.m. / p.m. fixes] in the future. The answer I got back distance education colleges in pune my associates was “show us a terms sheet, we definitely have interest”. Important News Re: Physical Bullion. A couple of weeks ago, I pitched an idea to some associates of mine who are involved in SERIOUS [tonnage] PRECIOUS METALS procurement – physical metal only – let’s best college admissions podcasts say HUGE money. I asked them if they would be interested in purchasing an “option” – cash up front - for the exclusive rights [first right of refusal on off-take] of a gold producer [miner] for a set number of ounces for 3 – 5 years “at the market” – using LBMA pricing [a.m. / p.m. fixes] in the future. The answer I got back from my associates was “show us a terms sheet, we definitely have interest”. Treating Symptoms, Ignoring list of universities and colleges in usa Root Cause. Anyone who reads a newspaper, speaks with their family or associates or has tuned into mainstream financial television over the past 3 years is acutely aware that “things” are not right. So, in a financial sense, what is it that really ails us? The usual suspects folks routinely hear runs the gamut from burgeoning health care costs to profligate government spending/deficits to credit default swaps to high frequency trading to claims that interest rates were left too low for too long. Then there’s the “China card”. Who hasn’t dental business plan template the rhetoric about trade imbalances being the fault of the Chinese and their reluctance to allow their currency to ‘strengthen’ against its U.S. counterpart? All these issues are valid and worth of health public debate. None of them explicitly deal with the root cause of our economic malaise – exactly because they are ALL symptoms of ‘the root of our real economic problem’ – THE MONEY, namely, irredeemable fiat money. The Longest Fix [AKA The Rudest Rig] For anyone who cares, here’s a snippet of the history on how the price of gold gets “fixed” in London each and every day; LONDON - The financial district known here simply as The City is a universal remote for panasonic tv of the loyal Order of the Masons, who have a penchant for strange rituals. But Masonry has nothing to do with an odd little ceremony performed twice every day in an office at N.M. Rothschild & Sons Ltd. Five men talk on their phones for 10 minutes soccer vs football essay so, and then lower tiny Union Jacks sitting on their desks. And that's it. The London gold fixings is complete. It takes place at 10:30 a.m. and 3 p.m., like clockwork. The same ceremony has been performed the same way, in the same place, and with mostly the same firms participating since the first gold fixing was enacted at Rothschild kit formando cidadãos kit a educação infantil 2 anos St. Swithin's Lane on Friday, Sept. 12th, 1919. Follow Up to Extinction of the Bond Vigilantes. A couple of weeks ago I was exchanging barbs with Jim Willie, Catherine Fitts and a couple of others in a group with whom I regularly exchange private thoughts. The topic du jour was interest rates. Specifically, someone mentioned there was a proposed Federal program to give homeowners broad based interest rate relief on their mortgages. They felt this might bring some welcome relief. Jim Willie stated very loudly that, in his opinion, lowering interest rates would have NO University of london pakistan fee structure and that interest rates levels were irrelevant – stating that it’s a top marine engineering universities in the world thing. I responded to the group with this [which, by the way, was the inspiration for the last article I wrote]: [more. signup] [open pdf. members] The Extinction of the Bond Vigilantes. With interest rates having been at or near zero for close to three years, a deeper look at what historically projeto diversidade para educação infantil interest rates is in order. Specifically, it invites the questions: Historically how are interest rates determined and what should bond yields [long term interest rates] really be? Historically, it is said that the Federal Reserve has the power to “mandate” or set short term interest rates through their influence over the trend setting Fed Funds [sometime referred to as the Over-night or Inter-bank] Rate. At the same time it is widely accepted that longer term rates are set “in the bond market” by a group of professionals known as bond vigilantes. [more. signup] [open pdf. members] Toronto G20 Summit: Facts and Figures. The latest G20 Summit is scheduled to take place in Toronto, June 26 – 27, 2010. The event is being held at the Toronto Convention Centre – adjacent the CN Tower and the Rogers Center, home of the Toronto Blue Jays baseball team - in the city’s downtown core. Slippery Business. Back in 2008 in an article titled, Oh Yes They Did!, I documented how the U.S. Government [specifically, the Dept. of Energy (DOE)] “released” crude oil from the Strategic Petroleum reserve to help precipitate the collapse in oil prices nutrição e alimentação na educação infantil close to 150 dollars per barrel: Un-Graceful Exit or Revolving Door? Back on April 5, 2010 in an article titled, Un-Graceful Exits, we juxtaposed the “vertical” growth of the monetary base against the “collapsing” monetary aggregate known as M3. Spinout at Government Motors. Is there anyone who hasn’t noticed the television advertising blitz begun by G.M. over the past week – how they’ve repaid all of their government loans? That’s right folks – Ed Whitacre – Government Motors’ Chairman turned pitchman has taken to the airwaves in both Canada and the United States boldly announcing that his beleaguered company had repaid ALL OF THEIR LOANS five years ahead of schedule, with interest! [more. signup] [open pdf. members] Admissions and Denial. Last week Robert Shiller appeared on Bloomberg News and made a proclamation that there was a ’50 – 50’ Chance of another slump in the housing market. You can watch the interview here. It is interesting that Bloomberg would pick this Shiller nugget up and report it as “news” when one stops to consider this April 8, 2010 HousingWire article: Big Banks Prepare for Major Rise in Foreclosures Ending 2010 by JON PRIOR Two major banks are expecting major increases in foreclosures, by the end of 2010. According to the Irvine What is testing and evaluation in education blog, Bank of America (BAC: 19.48 +0.41%), which currently forecloses on 7,500 homes every month will see that number rise to 45,000 by December 2010 as one senior executive pointed out at a recent trade show. However, a spokesman for BofA told HousingWirehe could not confirm the numbers and they do not reflect a public position of the bank……. [more. signup] [open pdf. members] Un-Graceful Exits. On March 25th, 2010 Federal Reserve Chairman Ben Bernanke gave testimony before the House Committee on Financial Services regarding the Fed’s “Exit Strategy”. Here is a brief summary of Mr. Bernanke’s testimony in his own words: “Broadly speaking, the Federal Reserve’s response to the crisis and the recession can be divided into two parts. First, our financial system during the past 2-1/2 years experienced periods of intense panic and ned university test paper, during which private short-term funding became difficult or impossible to obtain for many borrowers. The pulling back university of miami leonard m miller school of medicine private liquidity at times threatened the stability of financial institutions and markets and severely disrupted robert k yin case study research pdf channels of credit. In its role as liquidity provider of last resort, the Federal Reserve developed a number of programs to provide well-secured, mostly short-term credit to the financial system. These programs, which imposed no cost on taxpayers, were a critical part of the government’s efforts to stabilize the financial system and restart the flow of credit to American families and university of utah educational leadership. Besides ensuring that a range of financial institutions--including depository institutions, primary dealers, and money market mutual funds--had access to adequate liquidity in an extremely stressed environment, the Federal Reserve’s lending helped to restore normal functioning and support credit extension in a number of key financial markets, including the interbank lending market, the commercial paper market, and the market for asset-backed securities.” [more. signup] [open pdf. members] The Genesis of the Gold-Tungsten: The Rest of the Story. Abstract: Back in October, 2009 I penned an article titled, A Blight on Humanity, where I reported that, in an Asian depository there had been found 60 metric tonnes of “Good Delivery” gold bricks that had been gutted and filled with tungsten. That article was followed up with, On Doing God’s Work, where additional information on the fake gold bricks was presented. This lengthy report has university of hartford magnet school ct written to provide the background and genesis of who was involved, why the fake gold was produced and how it was fed into the international gold market. [more. signup] [open pdf. members] Decoding Double-Speak. Yesterday, March 21, 2010 – the New York Times carried a story about the IMF’s first deputy managing director, John P. Lipsky, making a pronouncement from Beijing, China; I.M.F. Gives Debt Warning for the Wealthiest Nations. BEIJING — The global economic crisis has left “deep scars” in the fiscal balances of the world’s advanced economies, which should begin to rein in spending next year as the recovery continues, the No. 2 official at the International Monetary Fund said on Sunday in Beijing. In a speech at the China Development Forum in Beijing, the I.M.F. official, John P. Lipsky, who is the first deputy managing director, offered a grim prognosis for the world’s wealthiest countries, which are at a level of indebtedness not recorded since the aftermath of World War II…… Everyone should take note that I.M.F. pronouncement above, chastising Western country’s indebtedness, was made by [arguably] America’s leading print media outlet - from Beijing, China. [more. signup] [open pdf. members] Smoke, Mirrors, SDRs and Gold: Why Central Banks Cannot Tell the Truth. In the following article the term Special Drawing Right [SDR] is used frequently. A brief explanation of an SDR is provided below together with its current value [which floats] in U.S. Dollars. The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a basket of major currencies (the U.S. dollar, Euro, Japanese yen, and pound sterling). The SDR currency value is calculated daily and the valuation basket is reviewed and adjusted every five years. And here’s how SDRs are valued: Currency amount under Rule O-1. U.S. dollar equivalent. Percent change in exchange rate against U.S. dollar from previous calculation. History as Our Guide. Years ago, in his freshman year in the School of Foreign Service at Sjd1501 assignment 3 answers, future U.S. President Bill Clinton took Professor Carroll Quigley's course on the development of civilizations, receiving a huazhong agricultural university website as his final grade in both semesters. Carroll Quiqley was not only a professor, he was also a very influential writer, commentator and economic historian. Among his diretor geral da educação influential works was Tragedy & Hope. Tragedy and Hope" is unique among other history books in its exposure of the role of International Banking cabal behind-the-scenes in world affairs. Combing through “gold bug” forums this past weekend, I came across a quote from this Quigley another word for i think in an essay which caught my attention; “The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements, arrived at in frequent private meetings and conferences. The apex of the system was the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the worlds’ central banks which were themselves private corporations. The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other dentistry personal statement tips groups.” CFTC – Purveyors of Fanciful Financial Oversight. Something of significance occurred last week that went unreported in the mainstream financial press. This important development was the admission of the Commodities Futures Trading Commission [CFTC] that it was suppressing information that would expose precious metals market manipulation. This issue was first publicly reported by GATA director, Adrian Douglas – in a February 20, 2010 article posted here. Beginning in December, 2009, the CFTC began suppressing the disclosure of the identity of banks participating in the silver futures market [via the Bank Participation Report or BPR]. Discount Rate Hike Analysis. The Fed raises the Discount Rate [the rate at which banks can borrow at the discount window] yesterday and the talking heads all claim that “excess liquidity” is now being drained from the market. Meanwhile, TODAY – the Fed conducts Permanent Open Market Operations [POMO] to the tune of close to 1 billion in AGENCY BONDS [Fannie / Freddie]: All Roads Lead to Goldman Sachs. Once upon a time, Goldman Sachs shunned publicity. During the period from 1930 to 1969, Sydney Weinberg ran Goldman Sachs where he developed a staunch corporate cultural aversion to publicity. During the 1970s, a tandem of John Weinberg and John Whitehead assumed the reigns missing homework note to parents leadership at Goldman Sachs. Whitehead left the company in 1984 to enter public life. John Weinberg carried on in the same vein as his father Sydney – shunning publicity – to the point where he reflexão sobre a relação entre cultura e educação a man simulation in medical education brief history and methodology keep his name and his firm's out of the press. He kept him off the full-time payroll (though he sat full-time at a desk in head office) so that if, improbably, a comment did slip out, it could be honestly dismissed as not coming from a Goldman Sachs employee. John Weinberg served as sole senior partner and chairman until 1990. His mantra was to put the client’s interests first and he wouldn’t allow Goldman to be involved hostile takeovers. [more. signup] [open pdf. members] A Sterling Account of Silver’s January, 2010 Dismal Performance. From Mark Leibovit’s most recent VR Gold Letter: In the news, we learned that demand for short essay on thankfulness metals weakened substantially in January. The world's largest gold-backed umaru musa yar adua university katsina state nigeria fund, New York's SPDR Gold Trust (GLD), said its holdings fell 21.7 tons or 1.9 percent in January. The largest silver-backed fund, the iShares Silver Trust (SLV), saw a 107.99 ton or 1.1 percent decline in its holdings last month. The US Mint sold a record $1.7 billion of gold, silver, and platinum bullion in 2009, a 79 percent increase from 2008. The Mint turned a profit of $32.7 million from the bullion sales, an 84 percent importance of feminism essay. [more. signup] [open pdf. members] Framing Up the End Game – It’s Coming into Wits university student email close confidant of mine contacted me on Wednesday and asked me to read and provide commentary for discussion on the following article, Thoughts on the End Game. After reading the article, I offered the following thoughts; The article begins by pondering the notion that American’s must now choose between “bad outcomes”. I believe this is a misguided foundational assumption because American leadership appears unwilling to make ANY tough choices. [more. signup] [open pdf. members] Interest Rate Roulette. According to the most recent data from the U.S. Office of the Comptroller of the Currency, the notional value of derivatives held by U.S. commercial banks increased $804 billion in the third quarter of 2009, or 0.4%, to $204.3 trillion. Seven banks hold 99.8% of all derivatives: [more. signup] [open pdf. members] More Irregularities in GLD Bar List. Why would the current GLD bar list where is santa claus right now delivering presents missing approximately 700 metric tonnes worth of gold bar inventory? Back in October, the GLD bar list went short for dickinson state university graduate programs weeks. The most recent [Jan. 15, 2010] GLD pdf bar list [appended above] has 157 pages, two rows of 105 bars per page [except for the first page which has 2 rows of 86] for a total of: 32,932 BARS [more. signup] [open pdf. members] Russian-Roulette. Let’s consider a well publicized recent sale of Russian gold bullion to itself: Russia sells gold to itself. December 14, 2009 3:47pm by Emma Saunders. The Russian central bank will spend $1bn next week, buying 30 metric tons of gold from Gokhran, the state repository. Gokhran had planned to sell 20-50 MT on the open market, but cancelled after news of the sale leaked. The sale would have helped plug Russia’s budget deficit, and, apparently, purchase some diamonds from state-run miner Alrosa…. Does this not strike you as being odd? [more. signup] [open pdf. members] Clear Thought in Confusing Times. How often centro integrado de educação ciência e tecnologia you heard a talking-head or pundit southampton solent university ranking the print media try to “explain” how the U.S. led global economy faltered the way it has? We’ve been dazzled and fed explanations regarding root-cause, ranging from sub-prime mortgages to credit-default swaps to lack of regulatory oversight to good-ole-fashioned greed. While countless pages and untold face-time has been devoted to the aforementioned topics in the main stream financial press – precious little has been articulated in the mainstream that irredeemable fiat money is what lies at the heart of our economic woes. [more. signup] [open pdf. members] A Sobering Look at the Year Ahead – 1st Installment. The following is the first article in a “big picture” montage explaining steven universe is garbage we are – economically – how we got here – and where we are likely headed throughout the balance of 2010. Nothing is “As It Appears” President Obama campaigned on a platform of ending war[s]. He showcased his ‘deliberations’ on whether to send additional troops to Afghanistan – like the outcome was ever in doubt? The reality, according to a memo released by Sen. Claire McCaskill’s [Chair - Contract Oversight subcommittee on contracting in Afghanistan] staff, [more. signup] [open pdf. members] Deep In Derivatives or Dumbed-Down Reporting? On December 29, 2009 The New York Post [ firstname.lastname@example.org ] published an article titled, Deep in derivativeswhere scribe Josh Kosman ‘took-a-shot’ at explaining the ABSURDITY of the bind boggling derivatives positions amassed by financial behemoths such as J.P. Morgan Chase and Goldman Sachs. In an attempt to explain how dangerously systemically-interconnected derivatives makes ALL banks, Kosman began; [more. signup] [open pdf. members] Legitimate Price Discovery Vs. Fraudulent Price Determination? Year’s end is a time when folks customarily take stock of things and analyze or review what has transpired over top marine engineering universities in the world past 12 months. With that in mind, let us stop and consider what has transpired in the global silver market for the ‘front half’ top marine engineering universities in the world the preceding 12 months: [more. signup] [open pdf. members] Christmas Gold Round-Up. Before Christmas, we would like to bring a couple of issues to your attention. First, we are hearing anecdotal accounts that beneficial owners of “allocated” gold bullion in London and perambalur district colleges and universities European centers have showing up at bullion banks and demanding their physical metal be a] viewed and assayed, and then b] withdrawn from teaching critical thinking creativity problem solving pdf vaults of banks. [more. signup] nelson mandela university 2019 registration pdf. members] Your Christmas Comics. Implications Stemming From Copenhagen. The United Nations’ sponsored Climate Change Conference is currently underway in Copenhagen, Denmark [Dec. 7 – 18, 2009]. The expressed purpose of the meeting public school vs private school essay to get a new global climate treaty signed by the 192 countries attending – supplanting the UN's 1997 Kyoto Protocol. [more. signup] [open pdf. members] An Examination of the Gold / Silver Ratio. [for subscribers only]……………… [more. signup] university of saskatchewan biology pdf. members] Cutting Through the Fog. I want to start by acknowledging the savage “take-down” in the gold price which began last Friday, December 4th at 8:30 a.m., immediately following the release of better-than-expected November U.S. Employment data. First off, I like to point out that there are some perceived discrepancies in exactly what happened last Friday at 8:30 a.m. when the Employment data was released: [more. signup] [open pdf. members] Honey, I Shrunk the Essay typer unblocked at school external auditors were investigating a discrepancy between the mint's 2008 financial accounting of its precious metals holdings and the physical stockpile at the plant on Sussex Drive in Ottawa.” Interestingly, initial reports indicated that discrepancies involved silver and other precious metals. [more. signup] [open pdf. members] When Settlement Becomes a Sticky Wicket. How Gold Bullion Transacts At COMEX. Gold futures and options are generally utilized by market participants to hedge or speculate on price movements of the underlying commodity – gold bullion. However, to essay about ballet the sanctity of these products and the exchanges on which they trade as “honest price discovery mechanisms” – there must always be an option for investors to effect physical delivery of the underlying product – which in this case is gold bullion. [more. signup] [open pdf. members] Predatory Lending and Outsourcing of Jobs: A Deadly Combination. Catherine Austin Fitts has been sounding the alarm about the pillage of America for more than a decade, “Overwhelming American communities with mortgage, auto and credit card debt as we shift manufacturing and research capacity, jobs and approximately $10 trillion of capital offshore—much of it by illegal means— has been the US economic strategy since 1996.” [more. signup] [open pdf. members] On Doing God’s Work. “Gold Finger” - A New Take On Operation Grand Slam With A Tungsten Twist. I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences: 1] - irregularities in the publication of the gold ETF - GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 pages to under 200 pages and then back illinois state university early action deadline to 800 or so pages. 2] - reports of 400 oz. “good delivery” bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong. [more. signup] [open pdf. members] Draining the Pool A Cup At a Time. This is intended as a foundational article to provide all subscribers with a much more “rounded” understanding of today’s década da educação para o desenvolvimento sustentável market and hopefully an appreciation of why critical thinking math problems 2nd grade gold price is not likely to act as it has so many times in the past – on a go forward basis. [more. signup] [open pdf. members] Disinformation or Ignorance, Take Your Pick? Over the past few weeks, anecdotal accounts of shortages of physical gold bullion have been surfacing around the world. Empirical observations supporting this development include [below excerpted from Eric DeCarbonnel – Market Skeptics];Mints are seeing a sharp rise in sales this year due to interest so strong that dealers are reported a shortage of products such as Krugerrands and one-ounce bullion coins. China is now pushing their citizens to buy gold. Anecdotal accounts from “boots-on-the-ground” gold and silver brokers are reporting heavy ‘net with drawl of physical metal’ at COMEX depositories, raising doubts as to whether there is gold in inventory to match existing warehouse receipts. London gold vaults are being emptied. Hong Kong is pulling all its physical gold holdings from depositories in the UK and moving their $63 million worth of gold home to newly built what is an educated person essay near the city's airport. Dubai is also planning to withdraw its gold from London. Meanwhile, private investors and Swiss ETFs continue to move gold are essay titles underlined of London. Many large money managers who were formerly in paper gold are now demanding physical gold bullion instead. Anecdotal accounts I have already reported on, during the week of Oct. 5, some large allocated physical transactions that were settled in London under VERY strange circumstances. Banks like JPMorgan and Deutsche Bank (who sold endless amounts of gold futures at prices of 950 to 1025) and then tried to make “side deals” with the folks they sold the futures to – offering them spot + 25 % (around 1,275 per ounce) to settle in fiat – after their counter parties demanded [allocated settlement] substantial tonnage of physical gold bullion. Update to Addendum: Q and A. In my second to last piece, I wrote about physical “allocated” gold trades that were settled in London during the week of Oct. 5 under highly unusual circumstances two weeks ago. Here is the definition of allocated settlement: Some short definitions: an unallocated account is an account where specific bars are not set aside, and the customer has a general entitlement to the metal. This is the most convenient, cheapest, and most commonly used method of holding metal. The allocated account, on the other hand, is an account opened when a customer requires metal to be physically segregated, and this needs a detailed list of weights and assays …. [more. signup] [open pdf. members] The Axis of Monetary Lies. This past weekend, much celebrated Bush-era speech writer David Frum took his best shot at defaming gold in a Financial Post [one of Canada’s major dailies] op-ed titled, Beware the gold bug. Frum began his uninformed attack [er, article] by immediately trying to infer that the cause of the “gold bugs” as hyperbole fit for nothing more than the satirical publication, The Onion. There are some that might say it’s too bad Mr. Frum’s, Axis of Evil, skills universe seta landscape wasn’t relegated to the back pages of The Onion instead of the floors of Congress – but I digress. [more. signup] [open pdf. members] Blight on Humanity Addendum. Earlier this week, I wrote about possible “incongruities” in the gold macquarie university holidays 2019 registry of GLD. Specifically, here is what has happened to the GLD bar list which is published each Friday at approximately 4:30 pm EST. An alert reader I communicate with [who shall remain anonymous] has been documenting the length of the published GLD bar list: on Friday, Sept. 25 – the list was 1,381 pages long on Canterbury university orientation week 2019, Oct. 2 – the list was 208 pages long on Friday, Oct. 9 – the list was 195 pages long then, on Wednesday, Oct. 14 – after questions were being raised about the strange machinations with the bar list in chat rooms on the internet – the list was back up to 855 pages long [more. signup][open pdf. members] Coincidences Becoming Common Place. An interesting development / admission occurred, virtually unnoticed, last week [Friday, Oct.9]: London, 09 October 2009 - The LME has met with several high-profile members of the London bullion market recently and believes there are grounds for further talks, LME CEO Martin Abbott confirmed on Friday. "I can confirm a recent meeting," Abbott told FastMarkets by phone. "As a result of the meeting, we believe that there are grounds for us to continue discussions with bullion market top marine engineering universities in the world. There is no timeline." The meeting is believed to have taken place on September 24with at escola educação criativa da vila ipatinga mg five high-profile members of the bullion market meeting members of the exchange. Representatives of large bullion bank, including HSBC, Goldman Sachs International, JP Morgan, ScotiaMocatta, and Deutsche Bank were in attendance, FastMarkets understands. Of these, all but ScotiaMocatta are LME members. Although the subject of the meetings playing in the park essay not been disclosed, meaning of educational technology London bullion market has, since the start of the year, been considering a new model for their over-the-counter gold forward contracts to cut counterparty risks, credit costs, and prepare for a new era of stricter regulation. Competitor CME Group introduced on September 20 its OTC forward clearing offering to the London market, while clearing house LCH.Clearnet has vowed to have a service ready by April next year. Discussions may also have touched on other services the LME could offer such as help with developing data collection and monetisation. The LME said in July it was holding exploratory talks with members of the freight industry. It called for the development of a London Baltic Freight Exchange, which has so far met with a mixed reception. Central Banking: A Blight On Humanity. Impeccably reliable sources have informed me that as recently as Sept. 30, 2009 how to introduce a study in a research paper the last possible day of trade in the Sept. 09 gold futures – a top marine engineering universities in the world of well-heeled market participants “bought” substantial tonnage worth of gold futures on the London Bullion Market [LBMA] and immediately told their counterparties they wanted to take instantaneous delivery of the underlying physical bullion. [more. signup] [open pdf. members] History Rhymes and Old Habits Die Hard. Over the past couple weeks some interesting historical documents relating to the gold market have surfaced. First up is Zero Hedge’s, Exclusive Smoking Gun: The Fed On Gold Manipulation which features an official document uncovered by researcher / historian Geoffrey Batt - a June 3, 1975 memorandum from Fed Chairman Arthur Burns to [then] President Gerald Ford. [more. signup] [open pdf. members] Anglo-American Central Banking Axis “On Notice” Is it just me, or has anyone else noticed that the G20 has been meeting with increasing regularity? So far this year, they’ve met in London twice [April and early Sept.] and again in Pittsburg [later in Sept.]. By my count that’s 3 G20 meetings in 6 months. Seems to me that the BIG G’s [G5, G7, G10 or pick your own G flavor ] used to meet but once a year? While these confabs are generally spun in the media as “love-ins” and pictures of “unity” – should 3 of these meetings being convened inside of 6 months be more accurately construed as an indication of deep divisions and quite possibly what time does universal close today imminent break-down of Anglo-American financial hegemony? [more. signup] [open pdf. members] The Game Has Changed – Past papers 2012 punjab university bsc statistics paper b Achilles Heel Exposed. In a discussion I had earlier this week with Dr. Jim Willie, we discussed how the prices of gold and silver have been arbitrarily managed for years. In this discussion, I contended that, while the prices of gold and silver have been closely managed, the growing “off-take” of physical bullion is inflicting great damage on price managers. We can see manifestations of this reality in that price corrections [sell-offs] are much shallower and shorter lived than they were even last year. Jim asked me if I could provide any “hard data” or minutia showing the amounts of physical metal being taken off the market in recent weeks. Unfortunately, I cannot. [more. signup] [open pdf. members] Lying to Congress: Central Banking Personified. Last evening, publication of the Federal Reserve’s Kevin M. Warsh’s response to GATA’s Freedom of Information Request re: gold; was finally posted. It revealed, “The Federal Reserve System has disclosed to GATA that it has gold swap arrangements with foreign banks that it does not want the public to know about.” You can all read about this here: The Federal Reserve’s revelations may pose a legal problem for former Fed. Chairman, Alan Greenspan, who – UNDER OATH before Congress – back in 1999, under questioning from Rep. Ron Paul - transcript, [more. signup] [open pdf. members] The Thin Edge of the Hedge. A couple of weeks ago, Barrick Gold Corp. announced it was raising 3 billion dollars via equity issue and taking a $5.6 billion 3rd quarter charge so they could eliminate their 9.5 million ounce “hedge book” over the next 12 months, Barrick Gold to eliminate hedges, plans offer. By ROB GILLIES ASSOCIATED PRESS WRITER TORONTO -- Barrick Gold Corp., the world's biggest gold producer, said Tuesday it plans to eliminate all of its how to write a psychology thesis hedges and raise $3 billion in a share offering to help pay for the move. The Toronto-based company cited the bullish outlook for gold. Its announcement came on a day the price of the metal rose above $1,000 per ounce to its highest level since March 2008. Gold hedges are futures contracts that commit a company to selling the metal at set prices. While hedges guarantee certain cash flows, they often commit a metals producer to ship the gold at prices lower than the current spot price. Barrick's decision to pay off its hedges amounts to a bet that gold prices will keep rising. Barrick said it believes holding the hedges hurt its appeal among investors and weighed on its share price. The company said it will take a $5.6 billion charge to its earnings in the third quarter as a result of a change in accounting treatment for the contracts. To raise money for the pay off the hedges, Barrick will issue about 81.2 million shares at $36.95 per share. It will use $1.9 billion to eliminate all of ba guess paper 2016 karachi university fixed-priced gold contracts within the next 12 months and another $1 billion to eliminate a portion of its floating spot price gold contracts…. Since Barrick announced their intentions, much has been written about the effect such an announcement might have, not only on Barrick’s share price going forward, but on the price of gold itself. [more. signup] [open pdf. members] Another Day in the Matrix. I present to you all some very recent price / chart activity in both gold and silver. Here’s a chart of gold for Sept. 8, 2009: Crude Reality – A Closer Look at the Almost Perfect Crime. Some time ago, GATA Secretary / Treasurer Chris Powell gave a speech titled, There are no markets anymore, just interventions. These sage words have stuck in my head. While Mr. Powell was specifically referencing manipulations in the precious metals markets, I am revisiting the concept as it relates to the crude oil market. The ongoing surreptitious “management’ of strategic commodity prices by the U.S. Government and its agents needs to be exposed for what best colleges for comparative literature really is – UNFAIR TRADE and AN ABUSE OF PRIVILEGE. These practices have resulted in a litany of unsustainable, unfair and damaging outcomes in many markets with results that favor privileged insiders at the expense of the common good. I continue to be amazed at the lack of uptake by the media to these over-arching issues that impact the well being and daily lives of all citizens and media’s feeble attempts to explain the ‘unexplainable’ based on free market principles when markets are not free. [more. signup] [open pdf. members] Addendum to Interest Rate Cosa Nostra. A number of readers have inquired about the amount of interest rate swaps held in non American jurisdictions. As the Cosa Nostra article anonymous police report text, there is no country specific derivatives reporting from Britain, France, Switzerland, Germany or Japan but the Bank for International Settlements [BIS] tell us that global [aggregate] derivatives are in the neighborhood of 600 Trillion. [more. signup] [open pdf. members] Interest Rate Cosa Nostra. Recently, Bloomberg News reported that a legal brouhaha has developed in Italy surrounding the municipality of Milan entering into a refinancing package, including retiring older existing debt and associated interest rate swaps, with a combination of takshashila university in hindi bonds and interest rate swap agreements designed to protect Milan against kingston university graphic design and photography rise in long-term interest rates, back in 2005. This financing was arranged with a quartet of banks including J.P. Morgan Chase, U.B.S. AG, Deutsche Bank AG and Depfa Bank Plc. [more. signup] [open pdf. members] Shell Game Revealed? Last week, on August 19, 2009, George Milling-Stanley, Managing Director and “mouthpiece” for the World Gold Council appeared on Canada’s Business Network [BNN] and, in response to questioning about the activities of precious metals ETFs by commentator Pat Bolland, Milling-Stanley stated [at 5:50 of the following]: “ETFs don’t buy essay on how to make pakistan strong who buy ETFs are buying shares that are in issue and are backed by gold. If the broker-dealers who make a market in the shares of those exchange traded funds feel there is insufficient liquidity and not enough shares for them to buy on the stock exchanges “THEY” buy gold and deliver it to the trustees of the ETFs who create new shares so you can’t blame the ETF providers for anything which has happened”…. Milling-Stanley, when questioned about the dramatic rise in investment demand for precious metal, then went on to add, “the advent of exchange traded funds which we [the World Gold Council] pioneered in Australia 6 years ago [ that would presumably be 2003 ] brought a whole new universe of gold investors into the market.” [more. signup] [open pdf. members] Rebutting Martin Armstrong. In an article titled, The Goldman Sachs Risk management in construction projects case study. The Real Dark Pool, Mr. Armstrong states generally, that he sees NO EVIDENCE of conspiracy – anywhere. Yet, he says that “there is not a single economic statistic that is even valid, no less any plausible guide as to what is going on. There [they, perhaps?] are manipulated so much to try to influence the ‘public confidence’ that it becomes a joke.” Here is a definition of market manipulation : Market manipulation describes a deliberate attempt to interfere with the free and fair operation of the market and create artificial, false or misleading appearances with respect to the price of, or market common app essay 5 examples, a security, commodity or currency. Market manipulation is prohibited in the United States under Section 9(a)(2) of the Securities Exchange Act of 1934, and in Australia under Section s 1041A of the Corporations Act 2001. The Act defines market manipulation as transactions which create an artificial price or maintain an artificial top marine engineering universities in the world for a tradable security. [more. signup] [open pdf. members] Inflation, Deflation, or, What Have They Done To the Currency? In recent weeks and months, there’s been much public debate in the financial press whether we’re going to hyper-inflate or suffer a deflationary collapse? I know this to be the case because I field many questions about this topic from readers around the world on a regular basis. To better understand which of these two competing forces will ultimately win the day, let’s consider the following observable basics: In a hyper-inflation, the value of currency [in this case, fiat money] is driven best colleges for mba in aviation management zero as prices rise. In a deflationary collapse, relationship essay topics value of currency increases as prices collapse. The Elephant In the Room: More Pieces of the Puzzle. This following article was an address by Rob Kirby at the Gold Anti-Trust Action Committee Inc., GATA Goes to Washington -- Anybody Seen Our Gold?, at the Hyatt Regency Crystal City Hotel, Arlington, Virginia, Saturday, April 19, 2008. The original address has been updated and added to since new information has come to light. My name is Rob Kirby – proprietor of Kirbyanalytics.com, proud GATA supporter and frequent contributor to Bill Murphy’s LeMetropolecafe.com. I would like to extend a warm welcome to GATA delegates from all over the world to Washington, D.C. I’d like to delve into the numbers, or math, showing how J.P. Morgan’s derivatives book cannot be ‘hedged’. [more. signup] drip irrigation report download pdf. members] Upside Down and Backwards: Is Central Banking on Death’s Door Step? In a rare lucid moment, British Prime Minister Gordon Brown recently quipped, “ Technology means that foreign policy will never be the same again” Elaborating before a group of leading thinkers at the TED global conference in Vivanco ur z2 universal remote control, England, Brown further explained, The power of technology - such as blogs - meant that the qantas 2018 business case study could no longer be run by "elites" While Mr. Brown didn’t exactly enunciate it, he might as well have said, “the advances in technology [read: the internet] also mean that our system of fractional irredeemable fiat currency [read: backed by NOTHING] practiced by Central Banks like the Federal Reserve may also soon be passe too.” This is largely due to the masses becoming informed about the world’s biggest ponzi scheme, namely, irredeemable fiat currency – forget about the warm-up acts like Madeoff and sub-prime. [more. signup] [open pdf. members] Mr. Bernanke’s Report Card: We Should All Be Holding Our Noses. On Sunday, July 26, 2009, Federal Reserve Chairman Benjamin Bernanke participated in a town-hall styled meeting, should the government subsidize college education by public television's Jim Lehrer, in Kansas City, Mo., where he was peppered with several questions about government decisions last year to rescue so-called "too big to fail companies" like insurance giant American International Group. Mr. Bernanke responded, "I had to hold my nose. How does pip affect universal credit as disgusted as you are….” “Nothing made me more frustrated, more angry, than having to intervene" when companies were "taking wild bets." It was a "perfect storm," he said, where housing, credit and financial problems converged into a major crisis the likes of which haven't been seen since the 1930s. [more. signup] [open pdf. members] Deceptions, Deceit and Distrust. With the former Investment Banks being granted Commercial Banking status due to the unfolding financial crisis in late 2008 – it was widely reported in the mainstream financial press that this “change” would mean that these banks would be subject to more oversight and hence, more transparency would result regarding their derivatives activities. Ladies and gentlemen, nothing could be further from the truth. View the Q1 / 09 Quarterly derivatives report here. [more. signup] [open pdf. members] Alchemists in Action. On Saturday, July 11, 2009 – GATA board member, Adrian Douglas published a paper titled, The Alchemists. Disturbingly, what this paper chronicles is how the New York and Tokyo commodity exchanges have been permitting their gold futures contracts to be settled not in real metal but in shares of king fahd university of petroleum and minerals notable alumni exchange-traded funds (ETFs) in a transaction known as an Exchange of Futures for Physicals (EFP). [more. signup] [open pdf. members] Stop The Ponzimonium [and Television is harmful for childrens essay Shame On University of california san diego ranking Commissioner Bart Chilton. On Wednesday, June 24, 2009, CFTC Commissioner Bart Chilton appeared will i get less money on universal credit Canada’s Business Channel [BNN] to discuss market manipulation [or as Mr. Chilton coined it, “ponzimonium”] in the commodities markets. You can chinese university world ranking the interview here. [more. signup] [open pdf. members] Globalism or Localism: A Peek at Financial Ecosystems. World Trade, free trade, regional currency blocs, global warming, G-8, G-20, New World Order, carbon taxes, Central Banking and Debt Based Money Systems, expanded roles for the World Bank and I. M. F. – collectively, these are all factors – or components of a financial eco-system - which have contributed to our current deteriorating, global economic prisons are basically universities of crime. [more. signup] [open pdf. members] The Bush Doctrine, Economic Warfare and Your Investment Portfolio. Let us be clear, that in the aftermath of 9/11, American policy vis-a-vis its relations with the rest of the world changed forever under the aegis of the Bush Doctrine: The Bush Doctrine is a phrase used to describe various related foreign policy principles of former United States president George W. Bush. The phrase initially described the policy that the United States had the right to secure itself from countries that harbor or give aid to terrorist groupswhich was used to justify universal orlando vacation package promo code 2001 Invasion of Afghanistan. Later it came to include additional elementsincluding the controversial policy of preventive war, which held that the United States should depose foreign regimes that represented a potential or perceived threat to the security of the United Stateseven if that threat was not immediate; a policy of spreading democracy around the world, especially in the Middle East, as a strategy for combating terrorism; and a willingness to pursue U.S. military interests in a unilateral way. Some of these policies were codified in a National Security Council text entitled the National Security Strategy of the United States published on September 20, 2002. [more. signup] [open pdf. members] CNBC: The Spin Cycle. After writing U.S. Gold: Going or Completely Gone? late last week, widely read London based analyst, Paul Mylchreest, expanded on my work in his Thunder Road News – which is widely read in the institutional investor universe. The British publication, Telegraph.co.uk picked up on Mr. Mylchreest’s report and published the following on Monday, June 1, 2009: [more. signup] [open pdf. members] Auto Companies: Forensic Examination of Their Woes and More. A couple of weeks ago in this space in an article titled, Theater of the Absurd: a view from the inside, a case was made that Interest Rate Derivatives, not credit derivatives, are the ‘root cause’ for the macro economic problems our global financial system is currently facing. [more. signup] [open pdf. members] U.S. Gold, Going or Completely Gone? This past Tuesday evening I found myself reading a snippet from Enrico Orlandini’s, DTAnalysis [DT stands for “Dow Theory”] - where Mr. Orlandini opined, "I believe the [U.S.] trade gap will surprise people and continue to shrink and may even turn positive for the first time in decades. Unfortunately, this will only facilitate the flow out of the US dollar and bond and that’s not a good thing.” [more. signup] [open pdf. members] Theater of the Absurd: A View From the Inside. I read an article that was published by The Institutional Risk Analyst [IRA] titled, Kabuki on the Potomac: Reforming Credit Default Swaps and OTC Derivatives. According to the Kabuki article; "Kabuki is classical ancient Japanese folk theater performed broadly and loudly for the general public. I became familiar with it when I lived in Tokyo years ago. Kabuki on the Potomac this week fit Kabuki's theatrical definition with lawmakers wailing loudly, uttering angry threats, and rhythmically pounding podiums in a performance of mangled metaphors and fantasy." [more. signup] [open pdf. members] Forensic Examination of the Gold Carry Trade. Is There A Supply Deficit? If you ask the World Gold Council or their “official numbers keeper” - GFMS – they’ll say there is no persistent gold supply deficit. If you ask the folks at GATA – they’ll claim there is an annual 1,000 – 1,500 tonne gold supply deficit. So who’s telling the truth? [more. signup] [open pdf. members] Massive Blows to the Foundations of Our Faith Based Capital Markets. Most widely accepted and reported accounts of our current global financial difficulties place its beginnings in the August 2007 timeframe – when sub-prime [mortgage] credit markets “seized up”. [more. signup] [open pdf. members] Can Pigs Really Fly? The Fed / Treasury first announced that banks would be subject to stress tests back on Feb. 10, 2009. This WSJ account is the earliest mention we’ve been able to find: Banks to Get Stress Test Before Aid. As Part of Revamped Bailout, Cash Will Go to Those Deemed Healthy Enough to Lend. WASHINGTON -- Many U.S. banks will be subjected to rigorous examinations to see if they are healthy enough to lend before receiving additional financial aid, according to people familiar with the matter. The stress tests will be part of the bailout revamp to be announced Tuesday by Treasury Secretary Timothy Geithner. In addition to fresh university of zimbabwe application form 2018 pdf injections into banks, the new approach will include programs to help struggling homeowners; a significant expansion of a Federal Reserve program designed to jump-start consumer lending; and a private-public partnership to relieve banks of bad assets…… So…. as of the date of the article above – WHEN STRESS TESTS WERE CLEARLY PLANNED and ANTICIPATED – FASB [Financial Accounting Standards Distance education colleges in pune rules CLEARLY stipulated that mark-to-market accounting was the measuring stick for prudently gauging the true financial health of any banking institution. [more. signup] [open pdf. members] The Big Lie and A Whole Lot More. Last Wednesday, April 15, 2009, The United States Treasury published their monthly Treasury International Capital [TIC] System report. What this report captures, broadly, is macro why i chose healthcare essay capital flows in and out of the U.S. common app essay 5 examples markets. Because the United States is a debtor nation – running huge fiscal budget deficits as well as massive, seemingly perpetual, current account [trade] deficits; they require latest university rankings in the world amounts of foreign capital injections to finance these shortcomings. In recent years the amount of foreign capital REQUIRED by the United States has been conservatively running in the neighborhood of +70 billion per month. [more. signup] [open pdf. members] The Magnificent Seven and the Public Private Partnership. So how big is the credit derivatives market lasik vision institute az According to Reuters, the credit derivatives market is 55 Trillion in size at Oct. 7, 2008: ….AIG sold protection to banks on pools of risky mortgages and other assets in the $55 trillion credit derivatives market…. Now, let’s take a look at where the bulk of these derivatives are held, [more. signup] [open pdf. members] Humpty-Dumpty Fiat Sat on the Wall….You Know the Rest! We’ve heard much over the past number of days, weeks and months as to what lays at the root of our economic and financial woes. We’ve been made painfully aware of sensationalized storylines; like a Made-off-ian styled Ponzi-fraud, a real head-scratcher when université paris est créteil ranking consider that 64 billion in proceeds is alleged to have vanished into the ether without a trace; Bear and Lehman styled collapses where, in the confusion, 50 odd billions were created out of thin air – only to be quickly buried like bones in ‘rover’s clover’; and perhaps the most egregious of all, visibly, to date – the 180 billion and growing “black hole” of Darth Vader Ponzi-finance – AIG. [more. signup] [open pdf. members] More Derivatives Obscenities from Goldman Sachs “the Bank” The U.S. Office of the Comptroller of the Currency [OCC] posted its latest [Q4/08] quarterly derivatives report today. Everyone in the civilized world should be shaking their head at this. In the 4th quarter of 2008, Goldman [Hannibal Lecter] Sachs became a bank and, as such, for the first time was compelled to fill out and submit “call reports” to the Comptroller’s office. Ladies and gentlemen, the tide just went out and it appears that the Horrible Hannibal is not wearing a bathing suit: [more. signup] [open pdf. members] Derelicts on the Dole (pdf version for members) March 24, 2009, I sat, watched and listened as U.S. Treasury Secretary Timothy Geithner and Federal Reserve Chairman Benjamin Bernanke gave sworn televised testimony to a U.S. Senate Banking Committee. The gist of the testimony and solutions posed by both Geithner and Bernanke were that the Federal Reserve / Treasury combo be mandated more free case study on human resource planning power to cure the existing financial crisis and prevent future financial disasters from occurring – because their existing mandate was inadequate. This theater left me shaking my head. I’d like everyone to think about top marine engineering universities in the world these two men said under oath and, then consider how it pans with the following – excerpted from Stanford University alumni magazine: After Brooksley Born was named to head the Commodity Futures Trading Commission [CFTC] in 1996, she was invited to lunch by Federal Reserve chairman Alan Greenspan. The influential Greenspan was an ardent proponent of unfettered markets. Born was a powerful Washington lawyer with a track record for activist causes. Over lunch, in his private education budget south africa 2016 room at the stately headquarters of the Fed in Washington, Greenspan probed their differences. “Well, Brooksley, I guess you and I will never agree about fraud,” Born, in a recent interview, remembers Greenspan saying. “What is there not to agree on?” Born says she replied. “Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud,” she recalls. Greenspan, Born says, believed the market would take care of itself…. ….As chairperson of the CFTC, Born advocated reining in the huge and growing market for financial derivatives…. …. Back in the 1990s, however, Born’s proposal stirred an almost visceral response from other regulators self discovery creative writing ideas the Clinton administration, as well as members of Congress and lobbyists……. … Robert Rubin, who was treasury secretary when Born headed the CFTC, has said that he supported closer scrutiny of financial derivatives but did not believe it politically feasible at the time…. …. Ultimately, Greenspan and the fsu care essay example regulators argumentative essay on abortion pro life Born’s efforts, and Congress took the extraordinary step of enacting legislation that prohibited her agency from taking any action. Born left government and returned to her private law practice in Washington…. Contacted for the Stanford Alumni magazine article, Mr. Greenspan reportedly now disagrees with Born’s recollection and characterization of their lunch conversation years ago by responding, “This alleged conversation is wholly at variance with my decades-long held view,” he said in an e-mail, citing an excerpt from his 2007 book The Age of Turbulence, in which he wrote that more government involvement was needed to root out fraud.” Born stands by her story. A Fond Remembrance This kind of got me wondering, if Sir Alan of Selective Amnesia – the knighted one – might remember whether he was mischaracterized in another one of his dalliances, back in 1966, when he wrote a paper titled Gold and Economic Freedom, wherein he wrote, “The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Mats alvesson lund university stands in the way of this insidious process. It stands university of guelph summer research jobs a protector of property top marine engineering universities in the world. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.” Now, I ask how the above girds with this revelation, Hallam university of sheffield Greenspan himself referred to it is better to have brains than beauty essay federal government's power to manipulate the price of gold at hearings before the House Banking Committee and the Senate Agricultural Committee in July, 1998: "Nor can private counterparts restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise ." Far be it from me to call the esteemed former Federal Reserve How to start a discussion in a dissertation a bold-faced-liar, I’ll education for all children act of 1975 that kind of conjecture to you, the reader. But I digress. Contemptuous Critiques Now, I would like to focus on the disdain and utter contempt the establishment showed Ms. Born and her clarion calls – for probity’s sake - that EXISTING REGULATIONS be enforced, The CFTC was created in the ’70s to regulate agricultural commodities markets. By the ’90s, its main business had become overseeing financial products such università gabriele d annunzio stock index futures and currency options, but some in Washington thought it should stick to pork bellies and soybeans. Born’s push for regulation posed a threat to the top marine engineering universities in the world of more established cops on the beat. “She certainly was not in their league in terms of prominence and stature,” says a lawyer who has known Born for years and requested anonymity to avoid appearing critical of her. “They probably hamdard university karachi eligibility criteria, ‘Here is a little person from one of these agencies trying to assertively expand her jurisdiction.’” Some of the other regulators have said they had problems with Born’s personal style and found her hard to work with. “I thought it was counterproductive. If you want to move forward. . you engage with parties in a constructive way,” Rubin told the Washington Post. “My recollection was. . this was done in a more strident way.” Levitt says Born was “characterized as being abrasive.” Her supporters, while acknowledging that Born can be uncompromising when she believes she is right, say those are excuses of people who simply did not want to hear what she had to say. “She was serious, professional, and she held her ground against those who were not sympathetic to her position,” says Michael Greenberger, a Washington lawyer who was a top aide to Born at the CFTC. “I don’t think that the failure to be ‘charming’ should be translated into a depiction of stridency.” Others find a whiff of sexism in the pushback. “The messenger wore a skirt,” says Marna Tucker, a Washington lawyer and a longtime friend of Born. “Could Alan Greenspan take that?” One Size Fitts All You see folks; I bring all of this up for good reason. The contemptuous, maligning treatment university of sydney melbourne Ms. Brooksley Born as head of the CFTC concisely parallels the poisonous treatment doled [or Gored, perhaps?] out to Ms. Catherine Austin Fitts, former Assistant Secretary, FHA – Bush Write sat essay Admin. During her time in government, Fitts discovered that Fannie and Freddie were accidents looking for a place to happen. When she left government and formed Hamilton Securities, in her capacity as government contractor, she learned; “In 1995, a senior Clinton Administration official shared with me the Administration’s targets for Fannie Mae and Freddie Mac mortgage volumes in low- and moderate-income communities. We had recently reviewed the Administration’s plans to increase government mortgage guarantees — most of these mortgages would also be pooled and sold as securities to investors. Even in 1995, I could see that these plans would create unserviceable debt loads in communities struggling with the falling incomes expected from globalization. Homeowners would default on mortgages while losses on mortgage-backed securities would drain retirement savings from 401(k)s and pension plans. Taxpayers would ultimately be hit with a large bill. . but insiders would make a bundle. I looked at the official and جامعة مصر للعلوم والتكنولوجيا misr university for science & technology that the Administration was planning on issuing more mortgages than there were houses or residents. “Shut up, this is none of your business,” the official snapped back.” Ladies and gentlemen, there’s a pattern here. Ms. Fitts attempted to identify rampant systemic financial abuse – in her case, colossal mortgage fraud. From speaking with Ms. Fitts personally, I am aware that Fitts – in her capacity as President and founder of Hamilton Securities – actually met with the Greenspan Federal Reserve. For trying to expose the reality that one of the dirty little secrets behind the housing bubble is the long standing partnership of narcotics trafficking and mortgage fraud and the use of the two in combination to target and destroy minority and poor communities with highly profitable economic warfare back in the 1990s – Fitts found herself the subject of secretive but factually baseless investigations by H.U.D. and the U.S. Dept. of Justice. Along with the legal proceedings aimed against her, her company [Hamilton Securities] was ruined, she was threatened and harassed to the point where recent revelations by Seymour Hersh that, Vice President Dick Cheney was running an executive assassination ring made her stop and consider, “I have always wondered if this ring was responsible for quinsigamond community college ged series of poisonings between 2002 and 2005 while I was in litigation with the federal government.” The Common Thread It has occurred to me that Ms. Fitts attempts to fix a broken system shares a common thread with Ms. Born’s experience – The U.S. FEDERAL RESERVE – that blocked both their efforts to either prevent or expose systemic, fraudulent financial abuse. And now there is serious consideration to give the Federal Top marine engineering universities in the world / Treasury more power. As the most important members of the President’s Working Group on Financial Markets [aka the Plunge Protection Team], these two bodies would have had direct input [and thus been complicit] into the S.E.C’s 2007 world education expo 2019 of the “Uptick rule” on legal shorting of equities. Similarly folks, these are the same two organizations which in 1999 oversaw the repeal of the Glass-Steagall Act, which since 1933 had separated investment and commercial banking activities – allowing unfettered growth in securitization and derivatives trading. Additionally, in the same complicit manner, these folks for years sat idle and silent - observing the inaction of the S.E.C regarding the serial Naked Shorting of equities [the illegal practice of short selling shares that do not exist] in contravention of EXISTING SECURITIES LAW. Scoot education substitute pay to this their complicit derelict behavior of crony capitalism in fashioning schemes of “selective” outright bans on shorting, what-so-ever, of selected financial equities. Now, ask yourself, “Should these miscreants at the privately owned Federal Reserve really be graced with more power?” While we’re doing our dirty laundry, let us also not forget last Friday night’s [Mar. 20] takeover [or mugging, perhaps?] by the FDIC of U.S. Central Federal Credit Uniona huge wholesale university of toronto psychology undergraduate admission requirements union with about $34 billion in assets based in Lenexa, Kansas. This institution provides settlement services to 100 percent of corporate credit unions and 93 percent of all U.S. credit unions. At minimum, this means that local Credit Unions all over the U.S. [one aiou solved assignment code 8611 the only credible alternatives to money center banks] will now be facing higher costs according to Reuters: “The immediate costs of the takeover are coming out of a $7 billion industry-maintained insurance fund, but will mean higher premiums levied on retail credit unions.” The reason offered for regulators taking control of this wholesale credit union [and in turn burdening the ENTIRE credit union system] is alleged to have been that it failed a regulatory mandated “financial stress test”. If U.S. Central Federal Credit Union failed their financial stress test; the cadavers of Citibank and B of A must already be undergoing autopsies at the county morgue. Interesting how anything that competes with, threatens, or offers an alternative to the Federal Reserve controlled financial system [like community banking] dies or is threatened but AIG lives. In short, the Fed / Treasury combo should have their oversight curtailed since they have clearly shown a blatant disregard for enforcing existing financial law. In my own research and writing, as a foot soldier for the Gold Anti Trust Action Committee [GATA] – I have personally chronicled and documented systemic financial abuse – encapsulating ALL that Fitts and Born have warned about - all emanating from the highest levels of the U.S. Fed and Treasury – primarily in the global gold and bond markets; and all aimed at fraudulently perpetuating the global canadas involvement in the korean war essay of the U.S. Dollar. I’ve been able to determine through independent forensic examination of undeclared, nefarious Fed Reserve activity over the last 5 years that the Federal Reserve has NEVER had a coherent policy – unless one considers the major observable planks of learn from yesterday live for today hope for tomorrow essay earth” and/or “gold-price-bashing” to be any semblance of sound economics. Isn’t it time that the Federal Reserve is publicly recognized for what they are – derelicts on the dole – and what they’ve done? Isn’t how to get essays for free about time they are ORDERED to put their shovels down and quit digging a deeper-debt-hole top marine engineering universities in the world the American public? Haven’t the American people given enough? America and the world-at-large might be a better place to live if American monetary and political elites would top marine engineering universities in the world trying to become more omnipotent and – for a change - simply execute their existing mandates. This article is published publicly [unusually] in its entirety. Subscribers to Kirbyanalytics.com regularly receive guidance and actionable recommendations to help insulate themselves from the aforementioned systemic financial abuses. Subscribe here. * Rob Kirby acknowledges the keen nose of GATA lieutenant Adrian Douglas and Lemetropolecafe.com for drawing attention to the existence of the Brooksley Born interview in the Stanford University alumni magazine. [signup] A Date That Shall Live In Infamy. Mark it on your calendar folks – Wednesday, March 18, 2009the demarcation point - the date that the U.S. Federal Reserve publicly acknowledged that they will monetize the nation’s debt. While we suspect that the Fed has been doing so for quite some time – on the ‘Pirates of the Caribbean sly’ – the public disclosure that the Fed is resorting to quantitative easing [aka the printing press] has signaled a clear shift to the long predicted hyper inflationary end-game gyrations which historically have manifested themselves in virtually ALL top marine engineering universities in the world fiat money systems. [more. signup] [open pdf. members] Setting the Record Straight. I want to share with you all a piece of correspondence I received from reader [I’ve removed his real name] with the hopes that you all benefit from this exchange. I believe it has value because is demonstrates that even when folks “get it” university hair and beauty supply something is seriously wrong in the financial system – they are not [in my opinion] making informed decisions to protect themselves. If any of you are having difficulty grasping the content of what I am writing – ask questions!: [more. signup] [open pdf. members] The Real Ponzi Scheme – “Unreal Interest Rates” Recently, former chairman of the Federal Reserve – Alan Greenspan – penned an editorial, “The Fed Didn’t Cause the Housing Bubble”. It was published in The Wall Street Journal March 11, 2009. In the article Mr. Greenspan attempts to blame today’s global financial crisis on “too-low mortgage rates” between 2002 and 2005 which led to a real estate bubble. [more. signup] [open pdf. members] Underlying Assumptions: A Forensic Review. I’d like to take everyone on a little trip back in time – to May, 2003 – when Allan Yarish penned an article, Mark-to-market accounting undercuts banks' loan hedging, extolling the virtues of Credit Default Swaps. He did so methodically, by first identifying a problem or need: “FAS [financial accounting standards] mandates that derivatives be recognized in the statement of financial condition as either assets or liabilities and are to be disclosed at fair value. Changes in fair value of the derivative instrument may be offset by changes in the value of the hedged asset. However, distortions that arise from differences between fair value accounting of derivative instruments and the accrual accounting valuations used in valuing bank loans makes hedge accounting difficult if not impossible to achieve.” [more. signup] [open pdf. members] J.P. Morgan Leaking Oil. Last week’s article, The Statue of the Three Lies, examined the key “lynchpin” roles being played by the institutions Harvard and J.P. Morgan in our current global economic morass. This week, we’ve learned that insurer AIG is the recipient of another 30 billion in government [taxpayer] assistance to augment the obscene 150 billion already sent their way. Lawmakers on Capitol Hill this week began asking tougher questions of Benedict Bernanke about who the ultimate recipient[s] are of bailout funds being extended to AIG. Benedict Bernanke has thus far refused to divulge who the REAL recipients of these funds are. [more. signup] [open pdf. members] The Statue of the Three Lies. Canada’s Globe and Mail newspaper reporter, Heather Scoffield, interviewed renowned Harvard Economist Niall Ferguson for an article published Feb. 23, 2009 titled, There Will Be Blood. In the interview Ferguson states, The global crisis is far from over, has only just begun, and Canada is no exception. [more. signup] [open pdf. members] Failure or Sabotage? As our beloved fiat financial system continues its ‘long predicted’ systemic melt-down, it has been most interesting to observe the jockeying of establishment Keynesian acolytes; positioning themselves and their revisionist rhetoric to obfuscate / obscure the nascent havoc that their ideology has cast upon humanity. [more. signup] [open pdf. members] Oh Yes They Did! I’ve been trying to resolve what’s behind the recent inversion of the historic premium that West Texas Intermediate [WTI] Crude Oil has enjoyed versus Brent Crude? Historically, West Texas Intermediate Crude Oil trades at a premium price to Brent Crude Oil for quality as well as logistical reasons. In recent concurso betim 2019 educação and months – WTI has been trading at a deep discount to Brent Crude: [more. signup] [open pdf. members] Crime Scene Investigation. Last week, on Thursday February 5th, 2009 – The President’s Working Group On Financial Markets held their first official soiree with former New York Federal Reserve Bank President, Timothy Geithner, installed as President Obama’s pick as Treasury Secretary [more. signup] [open pdf. members] We’ve All Been Had. As world leaders gathered over this past week for their annual wine-and-cheese ski-fest in Davos, Switzerland – perhaps we, the little people, should all take-stock [or a forensic account, perhaps?] of the cards we’ve been dealt. [more. signup] [open pdf. members] A Reminder / Refresher for Physical Gold Investors. The prices we are all accustomed to “watching” on a daily basis are “mimics” of an exchange traded price. Exchanges trade uniform futures contracts [each contract or “lot” representing 100 troy oz. of gold] aka the PAPER price of gold pretty much 24 hours per day Monday – Friday: [more. signup] [open pdf. members] Further Forensic Examination. Borrowing from the axiom that, “a picture is worth a thousand words”; today we are going to view qual a importância da educação ambiental incredulity of recent macro-economic events with the aid of charts and graphs. First luke combs state college is a chart of the o que significa a palavra educação física of gold [POG] over the past year with a few “milestones” pasted in for good measure: [more. signup] [open pdf. members] Questions Begging Answers. To say that markets have been behaving “strangely” recently is an understatement. In recent weeks and months processos e técnicas de estudo em educação física been witness to historic lows in sovereign interest rates in-the-face-of record amounts of debt being issued by governments? We’ve seen the price of gold behave counter intuitively by “not rising” in-the-face-of unprecedented systemic global economic malaise? Last, but not least, we’ve witnessed a “complete flip-flop” working at newcastle university the traditional pricing of Brent Crude Oil [IPE-London] versus West Texas Intermediate [NYMEX-N.Y.]? [more. signup] [open pdf. members] “ When”, Not “If” – Not Even Close. Two weeks ago in this space in an article titled, “When”, Not “If”, I attempted to highlight the disparity between annual global teaching philosophy examples special education production versus amounts of physical ounces of gold transferred on the London Bullion Market Association [LBMA]. At this time I would like to acknowledge the contribution of reader Allan C. who pointed out two oversights in my analysis which led to my dramatically understating my position: [more. signup] [open pdf. members] In Fraud We Trust. Amazing, isn’t it, how times have changed? Just [Wed.] this morning, President elect Barack Obama stood before microphones and television cameras and told the world that his administration was set to inherit an annual deficit of 1.2 TRILLION dollars. He went on to add that the fiscal 2009 amount did not even include “his” stimulus plan, rumored to be as much as an additional TRILLION dollars, reportedly geared toward infrastructure spending, would be required to “jump start” the U.S. economy. [more. signup] [open pdf. members] Whether Or Not We Like It. In the past, I’ve written papers where the following quotation was included at the end of the treatise as an “exclamation point”: “We shall have World Government, whether or not we like it. The only question is whether World Government will be achieved by conquest or consent.” – James Paul Warburg, whose family co-founded the Federal Reserve - while speaking before the United States Senate, February 17, 1950. Today, I feel that I’ve finally got it “the right way around” with this important quote – where it should be – at the beginning of, and in fact the subject of, a treatise of its own. [more. signup] [open pdf. members] A Familiar Tune. Funny isn’t it, how modern day economists prattle on about how “sub prime” mortgages are / were at the root of the systemic financial collapse we’re currently experiencing? They usually follow that bleep up with some hollow hogwash about how deflationary forces are winning the battle over inflation – thus explaining every otherwise inexplicable occurrence observed in our modern day monetary morass. Updated: Conclusion added [more. signup] [open pdf. members] Government Sanctioned Theft. The Office of the Comptroller of the Currency just released it’s Q3/08 Quarterly Derivatives Fact Sheet today. Here is one of the highlights: Take a look at J.P. Morgan’s gold derivatives [futures] position, paying particular attention to how the. • Who is Rob Kirby? Read Rob Kirby's Profile. • Bi-weekly Online Newsletter Members receive email notification when a new e-letter (KANL) has been posted in the members-only section. Become a member now. • Preview Archives Rob has been a ongoing contributor to Financial Sense Online for several years now. Browse Rob Kirby's archive of financial analysis articles.