Dienstag, 28. August 2012

Ron Paul Rede in Tampa: "We Are the Future"

Ron Paul zieht sich aus Politik zurück

"Der Anführer zieht sich aus der Politik zurück, aber die "Revolution" ist noch nicht vorbei. Ron Paul ist Gesicht und Stimme einer libertären Bewegung innerhalb der US-Republikaner. Seine Anhänger wollen weiter für ihre Ideen kämpfen"

weiterlesen hier auf Sueddeutsche.de

Freitag, 24. August 2012

The Potent Directors Fallacy in Action

"We have written an article on the so-called 'potent directors fallacy' (as far as we are aware credit for coining the term is due to Robert Prechter) in February of 2009, where the principle is explained by inter alia examining the crash of 1929. In brief, the fallacy is the belief held by investors that someone – either the monetary authority, the treasury department, or a consortium of bankers, or nowadays e.g. the government of China – will come to their rescue when the market begins to fall. 'They' won't allow the market to decline!' 'They' won't allow a recession to occur!' 'They can't let the market go down in an election year!' All of these are often heard phrases. Even many prominent economists who should really know better are fervently holding on to this faith in the magical powers of the central planners. In 1998 famous MIT economist Rudi Dornbusch wrote that there 'will never be a recession again', as 'the Fed doesn't want one'. Seriously. In late 2007, Gregory Mankiw of Harvard was gushing in the New York Times about the 'dream team' in charge at the Fed and the treasury, which would surely keep us out of recession 'if only we let them work' (as if 'we' had a choice in the matter!). Mankiw often comes across as a pretty shameless panderer to power, which may have been the inspiration behind this inane remark, but reading his op-ed one did come away with the impression that he actually believed it. Investors appear to be hostage to similar beliefs – and this is also what explains the odd ability of certain shares to levitate in 2007 in the face of the world obviously crumbling around them. ABK's stock did not reflect the almost inescapable conclusion that the company would be bankrupt in short order. It reflected only one thing: the faith of market participants that Ben Bernanke and the merry pranksters at the Fed would save the day."


Dienstag, 21. August 2012

WikiLeaks Bypasses Financial Blockade With Bitcoin

"It used to be that people had secrets and the government was transparent; now it’s the people that lack privacy and the government has secrets. Freedom of payments is an extension of financial privacy and digital cash-like transactions without financial intermediaries become a critical piece of that foundation. Money was never intended to act as a form of identity tracking or payments restriction and this is why the option for anonymous and untraceable transactions is so vital as society moves to a world of digital currency."


Donnerstag, 9. August 2012

Marshall Auerback: Central Banks Will Need to Recover Their Gold

TGR: Are you willing to speculate about which central banks are shorting gold?

MA: From what I have heard, it would not surprise me if the International Monetary Fund and the Bank of Italy have done it. The Bank of Spain and the Bank of Portugal have sold a lot of their gold and may be lending the rest; also the Bundesbank.

A lot of these sales took place many years ago when the price of gold was $500–1,000/oz. My point is that the actual holdings these banks retain are much smaller than what appears on their balance sheets. Of course, they would want to get that gold back to spare the embarrassment if the euro blows up. This is why I have suggested that even if there is one more selloff in gold, the declines will be cushioned because the central banks will be bidding to buy back what they sold forward.

TGR: Could this information create a spike in the gold price?

MA: Many thoughtful people would see the demise of the euro as very bullish for gold, along with the possibility of higher inflation in China and all of the qualitative easing introduced by the Federal Reserve lately. Yet, gold has gone nowhere.

If one measures the position of traders reports on the Comex and then factor in that the Over the Counter market (OTC) is about 5–10 times the size, the net long position of speculative interest in gold is huge. That said, net positions have been reduced substantially in the past several months—several hundred tonnes would be my guess—and yet the price hasn't declined that much, which suggests that there is a bid in the market. The official sector, perhaps?

I would say there could be another 400–500 tons liquidated, which would easily be absorbed by the central banks. Ultimately, this slow, ticking time bomb will resolve itself with a much higher gold price.

Source: Auerback at The Gold Report


(Disclaimer: ich bin long in Pinetree, dem Unternehmen, für das Herr Auerback arbeitet).

Stefan Blankertz bei Infokrieg.tv

Einer der Veteranen der deutschen libertären Szene, Stefan Blankertz, im Interview mit Alex Benesch:

Octopus: Read This Book to Understand Wall Street

"So Sam Israel was a con artist, one of the best and most accomplished on Wall Street. But as the reality of his crime weighed on him, and he fell into a deep, drug-fueled funk, Israel began to become delusional. And eventually, he himself was conned by a series of Sting-like grifters who convinced him that a secret network of Trilateral Commission/CIA/Bildeburg-style elite insiders were trading in a secret bond market that generated huge guaranteed profits for the small club of financial titans allowed entry into the group.

Israel was led to believe in the existence of this secret bond market after falling hard for an inspired piece of manic conspiracy theory literature called The Last Circle that posited the existence of a massive international financial-political conspiracy called “The Octopus.” Israel believed the Octopus definitely existed, and this belief led him to a series of disastrous trades in which he signed over huge chunks of his fraud-ridden $400 million stake to con artists, who promised to “invest” it for him in the secret bond market.

The story of Israel’s drug-fueled psychological downfall and descent into a nightmare-fantasy existence is definitely the stuff of movies, a high-end cross of Confessions of a Dangerous Mind and Permanent Midnight (the only thing that would have made some parts of this book funnier is if Israel had been seduced into the secret bond market by a briefcase-toting Alf/Mr. Chompers). And that’s great fun, and I’m sure lots of people who have no interest in Wall Street will enjoy that story."

Read more: http://www.rollingstone.com/politics/blogs/taibblog/octopus-read-this-book-to-understand-wall-street-20120724#ixzz2323jOYDm

Mittwoch, 1. August 2012

Der letzte Kreditgeber

"Die Zentralbanken kämpfen in der Rolle des letzten Kreditgebers gegen die Deflation. Sie müssen dem Affen Zucker geben, aber nur so viel, dass er nicht in Apathie verfällt. Die Charts zeigen einen gefährlichen Ritt auf der Deflationskante. Die Angst vor einer Hyperinflation ist hier und heute hypothetischer Natur. Und sie ist deutsch. Die Angst vor dem Pakt mit dem Teufel ist ein Schreckensbild der deutschen Seele ("Faust"). Und Goethes Zauberlehrling lehrt, dass man in Teufels Küche kommt, wenn man versucht, Zauberkunststücke durchzuführen, die man nicht beherrscht."


Siehe dazu auch:


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