http://www.nytimes.com/2009/05/04/opinion/04meltzer.html
Monday, May 4, 2009
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Long: GLD
Voltron's economics blog. Started in Iraq in 2007 as the "Gamblers Anonymous Support Group" email list.
Disclaimer
This is not an offer to buy or sell securities in any jurisdiction. This blog is for informational purposes only. I do not give legal, tax or accounting advice of any kind. I am not a licensed financial advisor. I make no representations as to the suitability of any transaction at any time. In fact, you should ignore everything I say.
Voltron's Current Forecast
Wall Street and the government are about to engage in battle and recriminations in the face of a massive wave of foreclosures. Wall Street will start yanking the leash, causing stock market crashes whenever the status quo is threatened.
The economy is fake and is dominated by fraud and criminal activity. The government is running several giant ponzi schemes.
The DOW/GOLD ratio will drop to 2.
The Fed's announcement that they are going to print a Trillion dollars and use it to buy debt is the proverbial "crossing of the Rubicon" The US Dollar is toast. I think the trigger will be some of the smaller holders of Treasurys (Singapore, for example) trying to dump their holdings before China does. This will cause a panic stampede out of Treasurys which will destroy the dollar.
Wells Fargo are liars. They have over 150 Billion in worthless home equity loans and a Trillion dollars in off-balance sheet liabilities.
Do not abuse leverage. The Fed is going to spend limitless amounts of money to pound interest rates and Gold prices into appearing "normal" when in fact they are on the verge of exploding. The tremendous volatility will shake out leveraged players.
Long: GLD
Calculators and Tools
Blogs I read
- Capital Account with Lauren Lyster
- Max Keiser
- Mortgage Lender Implode-O-Meter
- Naked Capitalism
- Zero Hedge
- The Big Picture
- Euro Pacific Capital
- Safe Haven
- MISH'S Global Economic Trend Analysis
- Nathan's Economic Edge
- Dr Housing Bubble
- Karl Denninger's Market Ticker
- Calculated Risk Blog
- Jesse's Café Américain
Education Links
Smartypants Hall of Fame
- Economist, Steve Keen
- Hedge Fund Manager, Hugh Henry
- Radio/TV Host, Max Keiser
- Stock Analyst, Ivy Zelman
- Fmr Options Trader/Philospher, Nassim Taleb
- Fmr Regulator, William K. Black
- Derivatives expert, Janet Tavakoli
- Fmr Hedge Fund Manager, Andrew Lahde
- Fmr Hedge Fund Manager, Dr. Michael Burry
- Investment Advisor, Marc Faber
- Short Seller, Jim Chanos
- Hedge Fund Manager, John Paulson
- Stockbroker/Economist, Peter Schiff
- Columnist: Damon Vrabel
- Investor, Jim Rogers
- Bank Analyst, Meredth Whitney
- Fmr Regulator, Brooksley Born
- Economist, Nouriel Roubini (NYU)
- Artist/Filmmaker, Paul Grignon
- Congressman, Ron Paul (R - TX)
- European Parliamentarian, Daniel Hannan
- Hedge Fund Manager, David Einhorn
- Hedge Fund Manager, Bill Ackman
Comic Relief (videos)
- NOMINT: Greek Crisis Explained
- Brits: Congratulations! You’ve Only Lost $1 Million Dollars!
- Daily Show: The banks can't lose
- Daily Show: Fat Fingers
- Ratigan: Financial Fraud For Dummies
- NPR: Bet Against The American Dream
- Daily Show: In Dodd We Trust
- The Onion: Money is an illusion
- "Fear the Boom and Bust" a Hayek vs Keynes Rap
- Mint.com: R U Unemployed
- Yes, Minister: A Conflict of Interest
- Colbert: Honor Bound
- Colbert: The Fed
- SNL: US-China Relations
- Daily Show: Dow 10,000
- Daily Show: High Frequency Trading Cash Cow
- Daily Show: Home Crisis Investigation
- Brits: The elephant in the room
- Daily Show: The bailouts are working!
- SNL: Bailout Skit (uncensored)
- South Park: The importance of saving money
- South Park: How the Treasury Dept works
- Subprime Mortgage Crisis Blues
- Brits: Subprime crisis (part 1)
- Brits: Subprime crisis (part 2)
- SNL: Conspiracy Rock
- For Kids: The Mississippi Bubble
Ways to make money when stocks go down
Option Trading Tools
Blog Archive
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2009
(456)
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May
(48)
- The Fed is lost in the sauce
- It's Science....
- Mortgage convexity behind the fall in treasurys?
- Bank Profits at Risk as Mortgage Rates Rise
- Bond Vigilantes Confront Obama as Housing Falters
- New Fed rules hurt Wells Fargo
- PPIP is dead and so is Wells Fargo
- Greenlight's Einhorn says shorting Moody's
- TREASURY SELLOFF SPIKING INTEREST RATES
- Rising Treasury yields
- Faber: 100% Sure US Will Have Zimbabwe-Style Hyper...
- China warns Federal Reserve over 'printing money'
- Beijing is caught in 'trap' over dollar
- The Dollar is losing value
- Obama: "We are out of money."
- The Destructive Implications of the Bailout
- USA to lose AAA credit rating?
- Will China still bankroll us?
- Roubini: Chinese renminbi will replace the dollar
- Credit cards crapping out
- Ratings agency Fitch may downgrade the credit rati...
- Wells Fargo is a basket case
- Obama Says U.S. Long-Term Debt Load 'Unsustainable'
- Nation Ready To Be Lied To About Economy Again
- Wells Fargo: The Feds Got It Wrong
- Paul Krugman Says Rapid Recovery 'Extremely Unlikely'
- Wells Fargo: worst of breed
- Meredith Whitney (video)
- Government Printing Money
- Wells Fargo expects earnings to fill deficit
- Accounting tricks boost bank profits
- Stress test results (video)
- China increased gold stash 75% since 2003
- Weak treasury auction
- US Political Risk
- Obama bets it all on red
- Wells Fargo Flunks Stress Tests, Needs $15 Billion
- Berkshire did it without computer models
- The Fed cannot control long term interest rates
- WSJ: Wells Fargo May Need Capital
- Short Weels Fargo
- Inflation Nation
- Resurgence of short selling interest in banks
- U.S. death spiral of debt
- It really was that bad
- Warren Buffett talkin' his book
- Warren Buffett warns inflation is on the horizon
- WSJ on Wells Fargo stress test
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May
(48)
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