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NOVEMBER ISSUE - 40 PAGES

Integrating Macro Research

& Technical Analytics

Gordon T Long

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READ ALL THE

"EXTEND & PRETEND" SERIES

 

 

Stage I Comes to an End!

 

A Matter of National Security

 

A Guide to the Road Ahead

 

Confirming the Flash Crash Omen

 

Its either RICO Act or Control Fraud

 

Shifting Risk to the Innocent

 

Uncle Sam, You Sly Devil!

 

Is the US Facing a Cash Crunch?

 

Gaming the US Tax Payer

 

Manufacturing a Minsky Melt-Up

 

Hitting the Maturity Wall

 

An Accounting Driven Market Recovery

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER 


 

 

 


 

READ ALL THE

"SULTANS OF SWAP"

 

ACT I

Sultans of Swap: Smoking Guns!

 

ACT II

Sultans of Swap: The Sting!

 

ACT III

Sultans of Swap: The Get Away!

 

 

ALSO

SULTANS OF SWAP: Explaining $605 Trillion in Derivatives!

 

SULTANS OF SWAP: Fearing the Gearing!

 

SULTANS OF SWAP: BP Potentially More Devastating then Lehman!

 

SULTANS OF SWAP: Gold Swaps Signal the Roadmap Ahead

 

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER

 


 

 

 

 

READ ALL THE

"EURO EXPERIMENT" SERIES

 

 

 

EURO EXPERIMENT: German Steel or Schmucks?!

 

 

 

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER

 

 

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Current Thesis Advisory

62 pages

 

Published November 2009

 

EXTEND & PRETEND

 

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Add Promo Code: "Introduction"

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READ ALL THE

"INNOVATION" SERIES

 

Innovate or Die

 

INNOVATION: America has a Structural Problem!

 

INNOVATION: What Made America Great is now Killing Her!

 

America - Innovate or Die!

 

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER

 


 

 

 

READ ALL THE

"PRESERVE & PROTECT" SERIES

 

 

 

 

FOR UPCOMING SHOW TIMES SEE: COMMENTARY READER

 

 

 

 

 

 

 

 

POSTS: BLACK FRIDAY & WEEKEND EDITION

 

11-26/27-10

Last Update: 11/29/2010 03:13 AM

SCHEDULE: 1st Pass: 5:30AM EST, 2nd Pass: 8:00 AM, 3rd Pass 10:30 AM. Last Pass 5:30 PM
ARTICLE SOURCE 1 2 3 4 5 6 7 8 9 10
                       
KOREA                      
South Korea fired first? SkyNews X                  
South Korea Defense Minister Resigns WSJ X                  
Koreas on 'brink of war' because of Seoul, Pyongyang says CNN X                  
US Aircraft Carrier Heads Towards Korean Peninsula Reuters X                  
USAF Ready to Deter N Korean Threat Military.com X                  
US show of force to deter North Korea FT X                  
Pyongyang warns of further conflict FT X                  
N.Korea 'Has 180,000 Special Forces Ready to Cross into South Korea Chosunilbo X                  
                       
EU                      
The ECB must do something radical to avert crisis FT X                  
Euro, peripheral debt hit by contagion fears Reuters X                  
                       
SPAIN                      
Spain defiant amid banking turmoil FT X                  
Spain Battles FT X                  
Why Spain Is NOT Like Greece, Ireland, Portugal CNBC X                  
                       
PORTUGAL                      
Sorrow of Portugal FT X                  
Portugal Next? Pravada X                  
Strike brings Portugal to a halt BBC X                  
Portuguese unions strike over austerity plan FT X                  
                       
GERMANY                      
Berlin to make debtholders carry greater burden FT X                  
Merkel seeks to pull bondholders into rescues FT X                  
German Business Confidence Unexpectedly Surges to Record High Bloomberg X                  
                       
IRELAND                      
Irish National Recovery Report - 2011-2014 Irish Gov't X                  
Irish Unveil Harshest Cuts, Tax Hikes in History AP X                  
And Here's Why The Irish Budget Plan Has No Chance Of Working BI X                  
Here Are The Banks That Will Get Whacked In An Ireland Collapse BI X                  
Ireland refutes the German perspective FT (Wolf) X                  
Pay-out for Anglo Irish CDS investors FT X                  
€12bn cash injection mooted for Irish banks FT X                  
Ireland Rating Cut Two Steps by S&P as `Barbarians' Gather Bloomberg X                  
Ireland's austerity - next stop default? Guardian X                  
Dublin to take majority stake in Bank of Ireland MW X                  
Bonfire of the Irish banks FT Alpha X                  
Ireland austerity plan to cost Irish households £3,000 in extra taxes Telegraph X                  
Euro crisis worsens after bond investor says cash will be taken out of Ireland Guardian X                  
    X                  
Japan: land of rising debt Telegraph X                  
                       
European stress tests weren't worth the paper... Warner   X                
US muni bond funds lose another $2.3bn FT       X            
Bankers Rigging Municipal Contract Bids Admit to Cover-Up Lies Bloomberg       X            
Property companies warn of capital drain FT               X    
Westwood’s Alpert Says US Home Prices Will Fall Further Credit Writedown                 X  
Mortgage Applications Rise to 6-Month High on Confidence Reuters                 X  
                       
ARTICLE SOURCE 11 12 13 14 15 16 17 18 19 20
                       
Were The Good Initial Jobless Claims A Sham Because Of Seasonal Adjustments? BI   X                
Why The Improving Jobless Claims Is A Huge Deal For Stocks BI   X                
Corporate Profits Hit New Record, U.S. Workers Still Struggling Huffington Post   X                
China's Q3 Current-Account Surplus Doubles Y-o-Y WSJ             X      
Shadow over Asia Casey             X      
China launches property measures inspection China Daily             X      
A Dangerous Bubble Is Emerging In China Forbes             X      
                       
CENTRAL BANKING & MONETARY POLICY                      
Fed considered long-term rate target in secret FT                    
Bernanke Employment Goal Elusive With Profits Bringing No Jobs Bloomberg                    
Economists React: Fed Failing on Both Sides of Mandate WSJ                    
                       
GENERAL INTEREST                      
Even the International Energy Agency expects peak oil now G&M                    
Global Spin: Logical Lunacy of Chasing Bubbles Hahn                    
                       
MARKET WARNINGS                      
Why Is Everyone Ignoring The 1-Billion Pound Gorilla In The Room Right Now? BI                    
Bearish Bets Rise on NYSE and Nasdaq WSJ                    
                       

CURRENCY WARS

                     
China, Russia quit dollar Asia One                    
Dollar soars as euro crisis deepens Barr                    
Currency Crisis! So What Happens If The Dollar And The Euro Both Collapse? Economic Collapse                    
                       
Q3 EARNINGS                      
                       
MARKET & GOLD MANIPULATION                      
Big arrest in insider-trading investigation MW                    
BIS gold records may facilitate double counting, study concludes Gata                    
Why one man thinks commodities are gold G&M                    
                       
VIDEO TO WATCH                      
                       
                       

Complete Legend to the Right, Top Items below.
Articles with highlights, graphics and any pertinent analysis found below.

 

 

 

                    LATEST RESEARCH PUBLICATIONS

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COMMENTARY for all articles by Gordon T Long

 

CURRENCY WARS: Debase, Default, Deny!

 

In September 2008 the US came to a fork in the road. The Public Policy decision to not seize the banks, to not place them in bankruptcy court with the government acting as the Debtor-in-Possession (DIP), to not split them up by selling off the assets to successful and solvent entities, set the world on the path to global currency wars.

 

By lowering interest rates and effectively guaranteeing a weak dollar, the US ignited an almost riskless global US$ Carry Trade and triggered an uncontrolled Currency War with the mercantilist, export driven Asian economies. We are now debasing the US dollar with reckless spending and money printing with the policies of Quantitative Easing (QE) I and the expectations of QE II. Both are nothing more than effectively defaulting on our obligations to sound money policy and a “strong US$”. Meanwhile with a straight face we deny that this is our intention.  

 

Though prior to the 2008 financial crisis our largest banks had become casino like speculators with public money lacking in fiduciary responsibility, our elected officials bailed them out. Our leadership placed America and the world unknowingly (knowingly?) on a preordained destructive path because it was politically expedient and the easiest way out of a difficult predicament. By kicking the can down the road our political leadership, like the banks, avoided their fiduciary responsibility. Similar to a parent wanting to be liked and a friend to their children they avoided the difficult discipline that is required at certain critical moments in life. The discipline to make America swallow a needed pill. The discipline to ask Americans to accept a period of intense adjustment. A period that by now would be starting to show signs of success versus the abyss we now find ourselves staring into.  A future that is now massively worse and with potentially fatal pain still to come. READ MORE

   

 

CURRENCY WARS: Misguided Economic Policy

 

The critical issues in America stem from minimally a blatantly ineffective public policy, but overridingly a failed and destructive Economic Policy. These policy errors are directly responsible for the opening salvos of the Currency War clouds now looming overhead.

 

Don’t be fooled for a minute. The issue of Yuan devaluation is a political distraction from the real issue – a failure of US policy leadership. In my opinion the US Fiscal and Monetary policies are misguided. They are wrong! I wrote a 66 page thesis paper entitled “Extend & Pretend” in the fall of 2009 detailing why the proposed Keynesian policy direction was flawed and why it would fail. I additionally authored a full series of articles from January through August in a broadly published series entitled “Extend & Pretend” detailing the predicted failures as they unfolded. Don’t let anyone tell you that what has happened was not fully predictable!

 

Now after the charade of Extend & Pretend has run out of momentum and more money printing is again required through Quantitative Easing (we predicted QE II was inevitable in March), the responsible US politicos have cleverly ignited the markets with QE II money printing euphoria in the run-up to the mid-term elections. Craftily they are taking political camouflage behind an “undervalued Yuan” as the culprit for US problems. Remember, patriotism is the last bastion of scoundres  READ MORE


  BRIEFS  

Obama's 'Hail Mary' Export Strategy
   
     

 READER ROADMAP -  2010 TIPPING POINTS aid to positioning COMMENTARY

1

         

1-SOVEREIGN DEBT

2-EU BANKING CRISIS
3-BOND BUBBLE

4-STATE & LOCAL GOVERNMENT

5-CENTRAL & EASTERN EUROPE
6-BANKING CRISIS II
7-RISK REVERSAL

8-COMMERCIAL REAL ESTATE

9-RESIDENTIAL REAL ESTATE - PHASE II
10-EXPIRATION FINANCIAL CRISIS PROGRAM
11-PENSION CRISIS

12-CHRONIC UNEMPLOYMENT

13-GOVERNMENT BACKSTOP INSUR.
14-CORPORATE BANKRUPTCY

TODAY'S TIPPING POINTS UPDATE

RED ALERT

AMBER ALERT

ACTIVITY

MONITOR

Click to Enlarge





11-26/27-10

 

GEO-POLITICAL TENSIONS - ISRAEL / KOREA / IRAN

 

KOREA

 

South Korea fired first?  SkyNews

 

  South Korea Defense Minister Resigns WSJ

 

South Korea Defense Minister Kim Tae-young resigned Thursday, two days after North Korea attacked a South Korean island, killing four people. President Lee Myung-bak accepted the resignation, the government said, as he ordered a full-scale review of the nation's defense. The government said it wouldn't immediately appoint a successor for Mr. Kim, who was named defense minister in September 2009 and presided over the military as it absorbed two attacks by North Korea: Tuesday's attack, which resulted in the deaths of four people, and the March sinking of the patrol ship Cheonan, in which 46 sailors died.

The move came on the same day that China's Ministry of Foreign Affairs released a statement from Chinese Pemier Wen Jiabao, who said Beijing opposes "any provocative military behavior" on the Korean peninsula but stopped short of blaming North Korea for the Tuesday attack.

 

Koreas on 'brink of war' because of Seoul, Pyongyang says CNN

 

US Aircraft Carrier Heads Towards Korean Peninsula Reuters


USAF Ready to Deter N Korean Threat Military.com

 

US show of force to deter North Korea  FT

Naval exercises set to spark protests from Pyongyang and Beijing

 

Pyongyang warns of further conflict  FT

 

N.Korea 'Has 180,000 Special Forces Ready to Cross into South Korea  Chosunilbo

US has 28,000 troops in the DMZ

 

1- SOVEREIGN DEBT & CREDIT CRISIS

 

SOVEREIGNS

 

 

 

The ECB must do something radical to avert crisis FT

 

Euro, peripheral debt hit by contagion fears Reuters

 

SPAIN

Spanish 10Y Bond Yields up 1/2%

Premium over German Bonds hit another high

Spain defiant amid banking turmoil  FT

Shares in European lenders fall amid fears for Irish bondholders.

Royal Bank of Scotland (UK) -5.3%

Lloyds Banking Group (UK)  -4.4%

Santander (Spain) -3.7%

KBC (Belgium) -3.3%

 

"There are just no buyers out there for the bonds of Portugal and Ireland and only a few for Spain"

Alan Wilde, head of fixed income and currency at Baring Asset Management

 

Spain Battles FT

 

Why Spain Is NOT Like Greece, Ireland, Portugal CNBC

 

PORTUGAL

 

Potugal Yields at 7% - Considered unsustainbale

 

Sorrow of Portugal  FT

 

Portuguese MPs back austerity budget  FT

 

Portugal Next? Pravada

 

Strike brings Portugal to a halt BBC

 

Portuguese unions strike over austerity plan  FT

 

GERMANY

Berlin to make debtholders carry greater burden  FT

 

Merkel seeks to pull bondholders into rescues  FT

 

German Business Confidence Unexpectedly Surges to Record High BL

 

IRELAND

Bailout now seen to be €85B ($112B)

Irish National Recovery Report - 2011-2014  Irish Government

140 Page Report

Irish Unveil Harshest Cuts, Tax Hikes in History AP
SUMMARY

1- A four-year plan to slash deficits by euro15 billion ($20 billion)
2- Cuts euro10 billion ($13.3 billion) from spending and raise euro5 billion ($6.7 billion) in extra taxes from 2011 to 2014.
3- Austerity plan axes thousands of state jobs, trims welfare benefits and pensions, and imposes new taxes on property and water.
4- EU-IMF rescue loan, which Cowen said would be about euro85 billion ($115 billion).
5- Budgetary medicine will permit the country's 2014 deficit to fall to 3 percent of gross domestic product, the limit for the 16 nations that use the euro currency.
6- Ireland's deficit this year is forecast to reach 32 percent of GDP

SPECIFICS

1- Ireland's 140-page National Recovery Plan proposes to introduce property and water taxes, raise the sales tax from 21 percent now to 23 percent in 2014, and cut the minimum wage by euro1 to euro7.65 ($10.20).

2- Ireland's bloated civil service will be particularly hard hit -- seeing cuts of about euro1.2 billion and 24,750 state jobs.

3- Income tax bands will be widened so more lower-paid workers pay taxes, and higher-waged workers will see annual taxes rise more than euro3,000 ($4,000). A raft of welfare payments will be gradually reduced.

4- Young and old alike face higher bills and less income. University fees will rise and monthly pensions will fall up to 12 percent.

5- Ireland's legendary tax-free status for authors, musicians and artists will be cut back so only the first euro40,000 ($53,000) of income will avoid tax.


COMMENTS

1- "The government is completely in denial about the amount of money they'll have to borrow," said Constantin Gurdgiev, a finance lecturer at Trinity College Dublin and an economics adviser to IBM in Europe.
2- The solution requires the total destruction of the existing (bank) share base," said David McWilliams, a former Irish Central Bank economist and European hedge fund manager. He appealed for Ireland to abandon its 2008 bank guarantee to repay all of the banks' borrowed billions, and instead require foreign bondholders to share the losses as Germany wants.

"The end game is simple," McWilliams said. "Either we take the pain and the economy is crushed, as the government insists, or the people who lent the money ... take the pain, as they should, and the economy can breathe."


ISSUES

1- Left untouched, to the irritation of other EU nations, is Ireland's exceptionally low 12.5 percent tax rate on business profits. That rate is less than half the EU average and has helped to lure about 1,000 high-tech multinationals to Ireland, far more proportionally than any other European country.
2- Foreign companies, including 600 U.S. businesses like Microsoft and Google, generate nearly 20 percent of Ireland's GDP.
3- France, Germany, Austria and Britain all have demanded that Ireland raise that rate. They argue it amounts to unfair competition at a time when other EU members will have to raise their own debt-fueled borrowings to loan money to Ireland.

BANKS

1- Allied Irish - 18% Government Owned
2- Bank of Ireland - 36% Government Owned
3- Ireland has already nationalized three other banks left bankrupt by the 2008 collapse of the country's decade-long real estate mania.
4- The bailout experts' requirement for greater capital reserves will have to be provided by the government, a process that analysts say will quickly lead to both banks' nationalization, a fate Ireland has spent billions already trying to avoid.
5- Property prices have slumped by more than 50 percent, hundreds of thousands of homeowners are trapped in homes no longer worth what they owe, and many of Ireland's construction barons have declared bankruptcy or fled the country.
6- Britain and Germany both have exposures to Irish banks exceeding $200 billion each, according to the Bank for International Settlements. Governments across the 16-nation eurozone warn that allowing Irish loans to default would send shockwaves through Europe's interdependent banking system.

 

And Here's Why The Irish Budget Plan Has No Chance Of Working  BI

Bottom line: An inequitable tax scheme, overly optimistic growth expectations (especially in light of austerity), and over optimistic funding cots.

 

First, it is based on the hope that the government can implement extreme austerity and still grow the economy,, which is incredibly dubious, especially without the ability to make any big structural adjustments. The biggest one they've envisioned is a cut in the minimum wage.

Here's how Ireland hopes to bend down the curve on expenditures:

Then there's the fact that all of the revenue hikes are to fall on the backs of consumers and retirees (there will be a hike in pension-related taxes) and not on corporations or banks, which may be inevitable, but it's the kind of strategy that will flip out the public street and cause riots.

Here's another big problem...  Check out the government's funding expectations.

Note that under the PESSIMISTIC scenario, government funding costs are assumed to 4.4%! That's like half of what the funding cost are at right now, and lower than any of the other PIIGS. So for this to work, we'd need a massive hike in confidence, which seems implausible given that even Greece with full access to the European Financial Stability Fund enjoys a massively higher interest rate.

 

Here Are The Banks That Will Get Whacked In An Ireland Collapse  BI

 

German banks are "uneasy" over the current Irish crisis, and their rivals in other countries are concerned too.

 

Der Spiegel reports that the exposure of Germany's banks amounts to $138 billion, with Hypo Real Estate leading the way with €10.3 billion in debt.

 

British banks are also exposed to the crisis, holding $150 billion in Irish debt.

Morgan Stanley (via hedgeanalyst) were a bit more specific on potential problem banks in a report last week. They suggested Danske, KBC, Lloyds, and RBS had something to be concerned about in the Irish situation.

  • Danske Bank: 3% of the bank's total credit exposure, with only 3% as government debt, and 41% as mortgages.
  • KBC: An emphasis on mortgages, with €17.8 billion in loans, and only 15% at risk.
  • Lloyds: £21.7 billion in loans, £11.7 billion in impaired loans.

  • RBS: "Significant" exposure, according to Morgan Stanley, including £51.9 billion in loans.

 

Morgan Stanley mapped out some scenarios for future losses. It looks like Lloyds has the most to lose from the bear case, which includes significant increases in non-performing loans.

 

Ireland refutes the German perspective  FT  (Martin Wolf)

Pay-out for Anglo Irish CDS investors  FT

€12bn cash injection mooted for Irish banks  FT

Ireland Rating Cut Two Steps by S&P as `Barbarians' Gather BL

Ireland's austerity - next stop default? Guardian 

Dublin to take majority stake in Bank of Ireland MW

Bonfire of the Irish banks FT Alphaville

Ireland austerity plan to cost Irish households £3,000 in extra taxes Telegraph

Euro crisis worsens after bond investor says cash will be taken out of Ireland Guardian
El-Erian: "What you advise your sister in Ireland now is...take your money out of an Irish bank and put it in another bank headquartered elsewhere.”

 
JAPAN

Japan: land of rising debt Telegraph

 

 

USA

 

 

 

 

2- EU BANKING CRISIS

   

European stress tests weren't worth the paper... Warner CRB

 

3- BOND BUBBLE

 

 

4- STATE & LOCAL GOVERNMENT

 

US muni bond funds lose another $2.3bn  FT

 

Bankers Rigging Municipal Contract Bids Admit to Cover-Up Lies BL


5- CENTRAL & EASTERN EUROPE

 


6-BANKING CRISIS II



7- RISK REVERSAL

 

 

8- COMMERCIAL REAL ESTATE

 

Property companies warn of capital drain  FT

 

9-RESIDENTIAL REAL ESTATE - PHASE II

 

Westwood’s Alpert Says US Home Prices Will Fall Further Credit Writedowns

 

Mortgage Applications Rise to 6-Month High on Confidence Reuters

 

10- EXPIRATION FINANCIAL CRISIS PROGRAM

 

 

11- PENSION & ENTITLEMENTS CRISIS



12- CHRONIC UNEMPLOYMENT


Were The Good Initial Jobless Claims A Sham Because Of Seasonal Adjustments? BI
There's chatter that the initial jobless claims report, which was the best in a long time, deserves a fat-old asterisk, because of the seasonal adjustments. Without the adjustments there would have been a big, weekly jump. So, cancel it out and ignore? No, seasonality is real. Matt Busigin points us to this chart of non-seasonally adjusted claims over the years. Notice anything?



Why The Improving Jobless Claims Is A Huge Deal For Stocks  BI

As others have pointed out before... the correlation between teh S&P 500 and the inverse of the weekly jobless claims number is pretty strong. Hence the ongoing improvement in claims is important



Corporate Profits Hit New Record, U.S. Workers Still Struggling HP

13- GOVERNMENT BACKSTOP INSURANCE

 

 

14- CORPORATE BANKRUPTCIES

 

 

17- CHINA BUBBLE


China's Q3 Current-Account Surplus Doubles Y-o-Y  WSJ

Shadow over Asia Outside The Box (Casey)

China launches property measures inspection China Daily

A Dangerous Bubble Is Emerging In China Forbes

19- PUBLIC POLICY MISCUES



 


OTHER TIPPING POINT CATEGORIES NOT LISTED ABOVE

 

24-RETAIL SALES

 

 

26-GLOBAL OUTPUT GAP

 

 

31-FOOD PRICE PRESSURES

 

 

32-US STOCK MARKET VALUATIONS

 

 




BP - British Petroleum

SULTANS OF SWAP: BP Potentially More Devastating then Lehman!

------------

 






   

CENTRAL BANKING MONETARY POLICIES, ACTIONS & ACTIVITIES

------------

 

 

Fed considered long-term rate target in secret FT

Although the Fed rejected this policy, it suggests that targeting a long-term rate might be an option if inflation continues to fall...Such a policy would mean promising to buy an unlimited number of such securities...

Bernanke Employment Goal Elusive With Profits Bringing No Jobs BL

Economists React: Fed Failing on Both Sides of Mandate WSJ


 

 GENERAL INTEREST

Even the International Energy Agency expects peak oil now G&M

 

 Global Spin: Logical Lunacy of Chasing Bubbles Hahn

 

FLASH CRASH - HFT - DARK POOLS

 

MARKET WARNINGS

Why Is Everyone Ignoring The 1-Billion Pound Gorilla In The Room Right Now? BI

 

 

 

Bearish Bets Rise on NYSE and Nasdaq  WSJ

 

CURRENCY WARS

China, Russia quit dollar Asia One
Putin: “...we have decided to use our own currencies”

 

Dollar soars as euro crisis deepens Barr

 

Currency Crisis! So What Happens If The Dollar And The Euro Both Collapse? Economic Collapse

 

 

 

As I wrote in an article entitled "Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing", a recent IMF policy paper actually proposed a name for the "global currency" that they believe could be coming....

A paper entitled "Reserve Accumulation and International Monetary Stability" by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the "Bancor" and that a global central bank be established to administer that currency. The report is dated April 13, 2010 and a full copy can be read here. Unfortunately this is not hype and it is not a rumor. This is a very serious proposal in an official document from one of the mega-powerful institutions that is actually running the world economy. Anyone who follows the IMF knows that what the IMF wants, the IMF usually gets. So could a global currency known as the "Bancor" be on the horizon? That is now a legitimate question.

 

Q3 EARNINGS

 

MARKET & GOLD MANIPULATION

Big arrest in insider-trading investigation MW

 

BIS gold records may facilitate double counting, study concludes via GATA

 

Why one man thinks commodities are gold G&M

AUDIO / VIDEO

 

 

QUOTE OF THE WEEK

 

“Have politicians got the courage to make those who earn money share in the risk as well? Or is dealing in government debt the only business in the world economy that involves no risk?”
Merkel


“The thought that you can create a prosperous economy by inflating is an illusion”
Volcker

“We sure have to maintain some confidence in the dollar or none of this would work"
Volcker


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Gordon T Long is not a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. Of course, he recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and barring that, we encourage you confirm the facts on your own before making important investment commitments.ont>

 

© Copyright 2010 Gordon T Long. The information herein was obtained from sources which Mr. Long believes reliable, but he does not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Mr. Long may already have invested or may from time to time invest in securities that are recommended or otherwise covered on this website. Mr. Long does not intend to disclose the extent of any current holdings or future transactions with respect to any particular security. You should consider this possibility before investing in any security based upon statements and information contained in any report, post, comment or recommendation you receive from him.

 

         

TODAY'S NEWS

SPECIAL

11-26/27-10

NOVEMBER

S M T W T F S
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28 29 30        
ARCHIVAL

 

 


 

         

TIPPING POINTS

1-SOVEREIGN DEBT & CREDIT CRISIS

2-EU BANKING CRISIS
3-BOND BUBBLE

4-STATE & LOCAL GOVERNMENT

5-CENTRAL & EASTERN EUROPE
6-BANKING CRISIS II
7-RISK REVERSAL

8-COMMERCIAL REAL ESTATE

9-RESIDENTIAL REAL ESTATE - PHASE II
10-EXPIRATION FINANCIAL CRISIS PROGRAM
11-PENSION CRISIS

12-CHRONIC UNEMPLOYMENT

13-GOVERNMENT BACKSTOP INSUR.
14-CORPORATE BANKRUPTCY
 

15-CREDIT CONTRACTION II

16-US FISCAL IMBALANCES
17-CHINA BUBBLE
18-INTEREST PAYMENTS
19-US PUBLIC POLICY MISCUES
20-JAPAN DEBT DEFLATION SPIRAL
21-US RESERVE CURRENCY.
22-SHRINKING REVENUE GROWTH RATE
23-FINANCE & INSURANCE WRITE-DOWNS
24-RETAIL SALES
25-US DOLLAR WEAKNESS
26-GLOBAL OUTPUT GAP
27-CONFIDENCE - SOCIAL UNREST
28-ENTITLEMENT CRISIS
29-IRAN NUCLEAR THREAT
30-OIL PRICE PRESSURES
31-FOOD PRICE PRESSURES
32-US STOCK MARKET VALUATIONS
33-PANDEMIC
34-S$ RESERVE CURRENCY
35-TERRORIST EVENT
36-NATURAL DISASTER

 


READING THE RIGHT BOOKS?  NO TIME?

 

WE HAVE IT ANALYZED & INCLUDED IN OUR LATEST RESEARCH PAPERS!

 

 

ACCEPTING PRE-ORDERS

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Book Review- Five Thumbs Up for Steve Greenhut's Plunder!  Mish

 

 

 

 

   

 

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Gordon T Long is not a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. Of course, we recommend that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and barring that, we encourage you confirm the facts on your own before making important investment commitments.

Copyright and Disclaimer

© Copyright 2010, Gordon T Long. The information herein was obtained from sources which the Gordon T Long. believes reliable, but we do not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that the Gordon T Long. or its principals may already have invested or may from time to time invest in securities that are recommended or otherwise covered on this website. Gordon T Long does not intend to disclose the extent of any current holdings or future transactions with respect to any particular security. You should consider this possibility before investing in any security based upon statements and information contained in any report, post, comment or recommendation you receive from us.