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Kyle Bass Says Europe to Face Run on Banks in Coming Months!

The Eurozone is on fire!

  • The Eurozone sovereign debt crisis endgame will play out in 2012!

    Europe to Face Run on Banks in Coming Months, Kyle Bass Says! 
    by Saijel Kishan, Bloomberg News
    Dec. 15 (Bloomberg) — Kyle Bass, the Dallas-based hedge fund manager who  said in 2009 that governments would default within three years, said Greek,  Portuguese and Spanish depositors will withdraw money from banks in the coming  months.

    “Just as Latvians ran to the ATMs this weekend, so will  depositors all over peripheral Europe in the months ahead,” Bass, who runs  Hayman Capital Management LP, said in an investor letter. “Deposits are now  declining at an accelerated pace. What’s surprising is that it hasn’t happened  much sooner.”

    In Greece, business and household bank deposits have slumped  26 percent in the past two years to 176 billion euros ($229 billion), and fell  in October by the most since the nation joined the euro, according to the Bank  of Greece. There were 2.24 trillion euros of overnight deposits with euro-region  financial institutions at the end of September, down from 2.26 trillion in July,  according to data compiled by Bloomberg.

    Latvians pulled about $54 million from local Swedbank AB  automatic teller machines on Dec. 11 and 12 on speculation customers wouldn’t be  able to access their funds. “The rumors were knowingly distributed with the goal  of destabilizing the situation in Latvia,” Prime Minister Valdis Dombrovskis  said, according to the Leta newswire. Clients withdrew about 1.5 percent of  total deposits on Dec. 12, the Swedish bank said in an e-mailed statement.

    … for more click here!

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December 16, 2011 Posted by | Economics | , , , , , | Comments Off on Kyle Bass Says Europe to Face Run on Banks in Coming Months!

Australian Banks Given One Week To Prepare For European “Meltdown”!

It is coming!!!

  • A Eurozone collapse is coming! It is obvious. If you still don’t see it, you are an IDIOT ! Need a 2nd opinion? Click here!

    Australian Banks Given One Week To Prepare For European “Meltdown”! 
    by Tyler Durden, http://www.zerohedge.com/ 
    Whereas previously we had heard extensive horror stories about banks being told to prepare for the end of the world in case the European summit (the latest and greatest one from last Friday which was supposed to find a cure for cancer among other things) failed, …  once the summit passed (and it was clear that media posturing would do nothing to fix what has already been a failure and it would be best to remove the threats of “reality” from the public’s attention) all such “end of the world” speculation promptly disappeared – after all why remind people that things are now worse than ever. 

    Until today. According to the Australian Finance Review (link – subscription required), banks down under “have been given 1 week by regulators to stress test how they would handle a spike in joblessness, plunge in home prices spurred by EU debt crisis.” Aka a European “Meltdown.” And since we don’t have immediate access to the article, we leave it to Bloomberg First Word to describe for us what the article says:

    – Australian Prudential Regulation Authority envision worst-case scenario of 12% unemployment, 30% drop in house prices, 40% fall in commercial property values, AFR says
    Banks will assume that write-offs, other mitigation measures are unavailable; later stress tests might allow for such steps, AFR says
    Australia’s banks have A$87.2b of exposure to Europe, or 2.7% of assets, with A$74.6b of it mostly tied to bank borrowers in France, Germany, Netherlands, AFR says, citing RBA statistics


    Why is this notable? Because unlike before, when media reports were really a propaganda ploy to get European politicians to collaborate (what has now proven to be an impossible task), and nothing but a rhetorical device, this time around, the warning is for real. And, more importantly, we have a sense of urgency, courtesy of the 1 week deadline: the question then is is it really that bad, and does Europe truly have a little over a week for global banks to prepare for the inevitable fall out?

    … for more click here!

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December 16, 2011 Posted by | Economics | , , , , , | Comments Off on Australian Banks Given One Week To Prepare For European “Meltdown”!

Fitch Downgrades 8 Global Banks!

  • The financial earthquakes are coming thick and fast! They will get larger and larger until the whole financial system collapses!

    Fitch cuts ratings on 8 major banks! 
    By AP, http://www.canadianbusiness.com/
    NEW YORK (AP) — Fitch Ratings on Thursday downgraded its viability ratings on eight of the world’s biggest banks, citing increased challenges facing the banking sector due to weak economic growth and heightened regulation.

    The firm lowered its viability ratings for Bank of America Corp., Barclays PLC, BNP Paribas, Credit Suisse AG, Deutsche Bank AG, The Goldman Sachs Group Inc., Morgan Stanley and Societe Generale.

    Bank of America’s viability rating was lower to “bbb,” which Fitch says denotes “good” prospects for ongoing viability. It had been “a-.” The other banks have new ratings of “a-,” ”a,” or “a+,” a range denoting “strong” prospects for ongoing viability, according to Fitch.

    It also downgraded its long-term issuer-default rating for most of the banks: Bank of America, Barclays, BNP Paribas, Credit Suisse, Deutsche Bank and Goldman Sachs. The ratings still remain well into investment grade, at “A” or “A+” following the downgrades.

    Fitch affirmed its long-term issuer-default ratings for Morgan Stanley, Society Generale and UBS AG. In addition, it affirmed UBS’ viability rating at “a-.” The rating changes follow a review by Fitch of large banks. Fitch said that the group of large global banks is particularly sensitive to the challenges that financial markets face, including economic jolts and regulatory changes.

    … for more click here! 
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December 16, 2011 Posted by | Economics | , , , , , | Comments Off on Fitch Downgrades 8 Global Banks!

Alex Jones: It’s Time for The Sheeple to Wake The Hell Up!!

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Obama To Sign NDAA Bill: Today is The Day America Truly Dies!

Part  2  Part  3

Obama the Illuminist, 32nd degree Freemason flashing the devil's horn symbol ?

December 16, 2011 Posted by | GeoPolitics, Social Trends | , , , , , , | Comments Off on Obama To Sign NDAA Bill: Today is The Day America Truly Dies!

Keiser Report: Möbius Strip of Fraud !

  • RussiaToday:
    This week Max Keiser and co-host Stacy Herbert discuss re-hypothecating Alec Baldwin’s cake and eating it too. And, as Al Capone before him, JP Morgan’s Jamie Dimon complains of the thankless task of being a “public benefactor”. In the second half of the show, Max talks to Reggie Middleton about German debt and MF Global .

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December 16, 2011 Posted by | Economics | , , , , , , , | Comments Off on Keiser Report: Möbius Strip of Fraud !

Indefinite Detention: Architecture of Fascist State!

December 16, 2011 Posted by | GeoPolitics, Social Trends | , , , , , | Comments Off on Indefinite Detention: Architecture of Fascist State!

Karl Denninger: Everything That Has Leverage in it Just Collapses!

  • RTAmerica:
    The German government has begun to prepare for a possible bail out of its second largest bank by assets, Commerzbank. Meanwhile depositors in the US have been pulling their money out of foreign-owned banks operating here, in what some call a “flight to safety.” As a result, these banks have seen the largest six-month fall in their deposits on record. Are these signs that a bank run is currently underway? Meanwhile, show me the money! That’s what lawmakers and customers have been telling MFGlobal executives to no avail. Now regulators report they have found the missing money! And we heard one top regulator allege Corzine knew customer money was dipped into. Corzine says he was told it was legal. But the big question, will customers actually get it back and is money safe in accounts once deamed sacrosanct? And as gold plunges to a five-month low, are we seeing the end to investors saying “follow the yellow brick road.” Or, does the broader collapse in commodity prices signal investors are running to cash, selling anything they can get their hands on. Could this be the excuse the Federal Reserve needs for QE 3 and will that even be enough to stop the crash this time around? To help us answer all of those questions is Karl Denninger, of the MarketTicker.com and author of the book, “Leverage: How Cheap Money Will Destroy the World.”

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December 16, 2011 Posted by | Economics | , , , , , , , , , , , , | Comments Off on Karl Denninger: Everything That Has Leverage in it Just Collapses!

US Troops Surrounding The Syrian Border?

December 16, 2011 Posted by | GeoPolitics | , , , , , , | Comments Off on US Troops Surrounding The Syrian Border?

Sibel Edmonds: US And NATO Troops Train on The Syrian Border!

Western MSM !

December 16, 2011 Posted by | GeoPolitics | , , , , , , , , , | Comments Off on Sibel Edmonds: US And NATO Troops Train on The Syrian Border!

White House Ends Silence on UFOs and ETs with Rejection of PRG Disclosure Petition l – But Petition ll is Filed Seeking Examination of the Rockefeller Initiative!

  • 2 Thessalonians 2:9-12 (New King James Version)
    9 The coming of the lawless one is according to the working of Satan, with all power, signs, and lying wonders, 10 and with all unrighteous deception among those who perish, because they did not receive the love of the truth, that they might be saved. 11 And for this reason God will send them strong delusion, that they should believe the lie, 12 that they all may be condemned who did not believe the truth but had pleasure in unrighteousness.
  • I have warned many times about this coming endtimes strong delusion. My assessment of the Illuminists plan is: there will be 3 phases in this strong delusion:

    Phase 1
    1.  A fake 2nd Coming of Jesus Christ which turns out to be a UFO-Return of the Alien Gods (who bio-engineered man in ancient times). These Alien ‘Gods’ are really the Fallen Angels (200 Titans) which came down to earth in Genesis 6.

    2. This UFO-Alien Disclosure event will likely occur at the end of the coming Satanic World War 3.


    Genesis 6:1-2 New King James Version (NKJV) 
    The Wickedness and Judgment of Man
    1 Now it came to pass, when men began to multiply on the face of the earth, and daughters were born to them, 2 that the sons of God saw the daughters of men, that they were beautiful; and they took wives for themselves of all whom they chose.
  • The Bible does not mention how many of these sons of God (ie. fallen angels) came down to earth and violated God’s law. But extra-Biblical accounts, like the Book of Enoch suggests 200 and these Titans are locked up in Tartarus (emphasis mine):

    The first section of the book depicts the interaction of the fallen angels with mankind; Sêmîazâz compels the other 199 fallen angels to take human wives to “beget us children“.

    And Semjâzâ, who was their leader, said unto them: ‘I fear ye will not indeed agree to do this deed, and I alone shall have to pay the penalty of a great sin.’ And they all answered him and said: ‘Let us all swear an oath, and all bind ourselves by mutual imprecations not to abandon this plan but to do this thing.’. Then sware they all together and bound themselves by mutual imprecations upon it. And they were in all two hundred; who descended in the days of Jared on the summit of Mount Hermon, and they called it Mount Hermon, because they had sworn and bound themselves by mutual imprecations upon it.
    ….
    The Lord commands Michael to bind the fallen angels.

    And the Lord said unto Michael: ‘Go, bind Semjâzâ and his associates who have united themselves with women so as to have defiled themselves with them in all their uncleanness. 12. And when their sons have slain one another, and they have seen the destruction of their beloved ones, bind them fast for seventy generations in the valleys of the earth, till the day of their judgement and of their consummation, till the judgement that is for ever and ever is consummated. 13. In those days they shall be led off to the abyss of fire: (and) to the torment and the prison in which they shall be confined for ever. And whosoever shall be condemned and destroyed will from thenceforth be bound together with them to the end of all generations.
  • The Bible says that these fallen angels are confined in Tartarus:

    We now consider the word Tartarus: “For if God spared not the angels that sinned, but cast them down to Hell (Tartarus), and delivered them into chains of darkness, to be reserved unto judgment.” II Peter 2:4. The word in the Greek is Tartarus, or rather it is .. from that noun. “Cast down to hell” should be tartarused, (tartarosas).

    2 Peter 2:4 New King James Version (NKJV) 
    Doom of False Teachers
    4 For if God did not spare the angels who sinned, but cast them down to hell and delivered them into chains of darkness, to be reserved for judgment;

    Jude 1:6 New King James Version (NKJV) 
    6 And the angels who did not keep their proper domain, but left their own abode, He has reserved in everlasting chains under darkness for the judgment of the great day;
  • We may be reaching the point when the 70 generations imprisonment of these 200 Titans/Fallen Angels is coming to an end. The modern UFO-Alien phenomenon is really the age-old manifestation/deception of fallen angels and their Nephilim children.

    Phase 2
    1. The coming of the Anti-Christ, man of Sin, son of Satan.
    2. The arrival of ‘good’ Aliens ie. Satan and his fallen angels kicked out of heaven.

    Revelation 12:7-9 New King James Version (NKJV)
    Satan Thrown Out of Heaven
    7 And war broke out in heaven: Michael and his angels fought with the dragon; and the dragon and his angels fought, 8 but they did not prevail, nor was a place found for them[a] in heaven any longer. 9 So the great dragon was cast out, that serpent of old, called the Devil and Satan, who deceives the whole world; he was cast to the earth, and his angels were cast out with him.
  • The final phase of this dark deception is the gathering of the armies of the world to attack Jesus Christ on His 2nd Coming!

    Phase 3
    1. Deception by Satan and his fallen angels that ‘Evil’ Aliens are about to invade the earth and destroy it.
    2. In reality this is the 2nd Coming of King of kings and Lord of lords, Jesus Christ, blessed Son of God and His heavenly army.

    Revelation 19
    New King James Version (NKJV)
    11 Now I saw heaven opened, and behold, a white horse. And He who sat on him was called Faithful and True, and in righteousness He judges and makes war. 12 His eyes were like a flame of fire, and on His head were many crowns. He had[e] a name written that no one knew except Himself. 13 He was clothed with a robe dipped in blood, and His name is called The Word of God. 14 And the armies in heaven, clothed in fine linen, white and clean,[f] followed Him on white horses. 15 Now out of His mouth goes a sharp[g] sword, that with it He should strike the nations.  ….
    19 And I saw the beast, the kings of the earth, and their armies, gathered together to make war against Him who sat on the horse and against His army.

    Revelation 16:13,14,16 New King James Version (NKJV)
    13 And I saw three unclean spirits like frogs coming out of the mouth of the dragon, out of the mouth of the beast, and out of the mouth of the false prophet. 14 For they are spirits of demons, performing signs, which go out to the kings of the earth and[a] of the whole world, to gather them to the battle of that great day of God Almighty.    
    16 And they gathered them together to the place called in Hebrew, Armageddon.[b]
  • The movement towards UFO Disclosure is going at a rapid pace. The Illuminist MSM no longer mock UFO and Aliens as they did in the past. It is being treated as a serious and legitimate topic. The overwhelming evidence is that something big is going on and something big is about to be revealed ! I do not believe that it will be some kind of announcement by the White House. It will be a public display … “working of Satan, with all power, signs and lying wonders” .. visible all over the world.

    White House Ends Silence on UFOs and ETs with Rejection of PRG Disclosure Petition l – But Petition ll is Filed Seeking Examination of the Rockefeller Initiative 
    Toronto, Ontario (PRWEB) December 13, 2011, http://www.prweb.com/
    The White House has inaugurated the “We the People” petition process whereby citizens can submit petitions to the government. ZlandCommunications has obtained details that Stephen G. Bassett, Executive Director of The Paradigm Research Group in Washington DC submitted a petition calling upon the government to formally acknowledge an extraterrestrial presence, but it was rejected on the basis of a lack of evidence. However letters obtained under the Freedom of Information Act tell a very different story about how White House officials discussed UFOs and Extraterrestrial Intelligence secrecy as far back as 1993.

    ZlandCommunications has learned that the White House has broken a 64 year old silence on the UFO/ET matter by publicly rejecting the Paradigm Research Group Disclosure Petition l – stating there is no credible evidence of an Extraterrestrial presence engaging the planet.

    It is important to recognize that this is the first time the White House has made any formal statement on the UFO/ET issue. This precedent is what many UFO/ET enthusiasts have been awaiting for decades.

    More importantly, by responding formally, many UFO analysts feel the White House has not simply recognized that over 17,000 individuals signed petitions demanding action to acknowledge the UFO/ET issue but the Obama administration has now opened the door to a wider public discourse on the reality of the UFO phenomenon and the mountain of evidence that seems to widely support this reality.

    In a statement by Phil Larson of the Office of Science and Technology Policy (OSTP) he said in part, “The U.S. government has no evidence that any life exists outside our planet, or that an extraterrestrial presence has contacted or engaged any member of the human race. In addition, there is no credible information to suggest that any evidence is being hidden from the public’s eye.”

    In response PRG Executive Director Stephen G. Bassett filed Disclosure Petition ll now demanding that the Obama administration investigate UFO Disclosure efforts during the Clinton administration between the White House Office of Science and Technology Policy and billionaire and Clinton friend, Laurance S. Rockefeller.

    Letters obtained from an FOIA request by Canadian researcher Grant Cameron of the Presidents UFO Web Site show that then White House Science Advisor to the President, Dr. Jack Gibbons discussed the UFO extraterrestrial issue as far back as 1993 with billionaire philanthropist Laurance S. Rockefeller, his solicitor Henry Diamond and other White House officials. These correspondences, known as the Rockefeller Initiative, are now in the public domain.

    One specific letter from Mr. Rockefeller to President Clinton entitled: ‘Lifting the Secrecy on Information About Extraterrestrial Intelligence as part of the Current Classification Review’ indicates Mr. Rockefeller had somehow been made aware that substantial information on UFOs and ETI had been ‘unnecessarily withheld from the public’.

    In the letter Mr. Rockefeller states, “It is widely believed that various agencies of the federal government have substantial information concerning the existence or non-existence of UFOs and it is being unnecessarily withheld from the public as classified.” Read the letter at:

    http://www.paradigmresearchgroup.org/Rockefeller%20Documents/RID-8-23-95.htm#2

    ZNN has also learned from another letter by Laurance S. Rockefeller to the Science Advisor to President Clinton, Dr. Jack Gibbons dated April 12, 1993 that:

    – At least one meeting was convened to discuss UFOs and extraterrestrial intelligence.
    – From that meeting Laurance Rockefeller learned Dr. Gibbons had not been advised of a ‘body of knowledge on UFOs and ETI… is being withheld from the public’.
     – According to Dr. Gibbons, it would be ‘most fruitful’ for Rockefeller to seek out UFO/ETI information from the Department of Defense and,
     – A letter from Laurance S. Rockefeller to President Clinton was crafted to request the President re-assess government policy on UFO/ETI information.

    Read the letter at: http://www.paradigmresearchgroup.org/Rockefeller%20Documents/RID-4-21-93.htm#1

    … for more click here!

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December 16, 2011 Posted by | EndTimes, Social Trends | , , , , , , , , | 1 Comment

15 Brilliant Insights From Hedge Fund Superstar Kyle Bass On Why He Owns So Much Gold…

Remember the Golden Rule: He who has the gold makes the rules!

  • The global fiat monetary system is collapsing. Fiat currency is a CONfidence Job backed by NOTHING! Once confidence is lost, the whole system can crash overnight. The sheeple will rush from one currency to another, as they perceive that the UKP, Euro, JPY … are failing they will flee to the USD. They are being herded into the USD and when the sheeple all over the world do that, the USD will collapse! With its collapse, the entire monetary system will crash. All fiat currencies will go down the path of loss in confidence to hyper-inflation. The Illuminist plan is to introduce their One World Currency backed by gold when this finally happens!
  • A New Financial, Monetary (by implication economic too)Hegemony will arise. Countries will lose their sovereignties to a Luciferian World Government and their Global Supra-National Central Bank. Countries which refuse to submit will face war.

    15 Brilliant Insights From Hedge Fund Superstar Kyle Bass
    On why he owns so much gold…

    by http://www.businessinsider.com/
    “My opinion is very simple as a fiduciary… to the extent that you own gold  and you are going to own it a long time –it’s not a trade. It costs us about 90  basis points a year to roll it through financial futures contracts,” he  said.

    “And then we went and looked at the COMEX.  The COMEX at the time they  had about $80 billion in open interest between futures and futures options. In  the warehouse they had $2.7 billion of deliverables. So $80 billion in open  interest — $2.7 billion in deliverables. We’re gonna own it a long time. You’re  on the board, as a fiduciary, what do you do? That’s an easy one. You go get it.  So you go take a billion of $2.7 billion and you let them worry about the  rest.”

    “When I talked to the head of deliveries at COMEX NYMEX, I was like, ‘What if  4% of the people want deliveries?’ He said, ‘Oh Kyle, that never happens. We  rarely ever get a 1% delivery.’ And I asked, ‘Well what if it does happen?’ And  he said,’Price will solve everything’ And I said, ‘Thanks, give me the  gold.'”

    … for more click here!

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December 16, 2011 Posted by | Economics | , , , , , , , | Comments Off on 15 Brilliant Insights From Hedge Fund Superstar Kyle Bass On Why He Owns So Much Gold…

Jim Willie: The Entire Financial System of The Western World is Imploding! Exponentially Rising Risk!

Vodpod videos no longer available.

“Absolute desperation sinking in … Alot of big European banks in trouble … Fed widened facility … because they are staring at 20 Lehmans in Europe! 20 different big financial firms! I’ve been saying the big 3 in France are all going to go bust … 4 or 5 big Italian banks .. are all going to go bust .. 20 Lehmans almost happened and the Fed rushed in ..! “

  • If the above Embedr video does not work, try here: Part 1 , Part 2 , Part 3 ! or MP3 format here: Interview with Jim Willie .
  • This is a must listen for all who wants the truth of how bad the real situation is!

    Jim Willie: “The Public Will Not Wake Up Until At Least One Million Private Accounts Are Stolen”! 
    by Tekoa Da Silva, bullmarketthinking.com, http://goldsilver.com/ 
    I had the chance to speak with the “Golden Jackass” this afternoon out of Costa Rica, namely, Jim Willie, publisher of the Hat Trick Letter. It was a riveting interview, as Jim’s global information and news sources paint a blackening financial future for participants in the Western financial system.

    According to Jim, US & European investors are at incredible risk. “The entire financial system of the Western world is imploding,” said Jim. “There is exponentially rising risks for individuals and their money…the risk right now–is people losing their entire life savings. I cannot seem to get people to understand this”

    As we began discussing the MF Global collapse, Jim articulated his belief in a financial slight-of hand originating from “notice to deliver” requests for gold and silver submitted through MF before the collapse, which had the potential to cause a Comex delivery default. “Comex was ready to default on gold and silver in November, and rather than honor the notices for delivery, JP Morgan stole the funds in the accounts that were calling for delivery…notices for delivery were replaced by stolen accounts.” The evidence of this according to Jim is that, “JPM increased the amount of silver in their registered vaults by precisely the amount that was suppose to be delivered…JPM effectively averted both a Comex default and a European Sovereign Debt implosion.

    Before closing Jim provided a stark warning, saying, Several million private accounts may vanish–Brokerage accounts, Pension funds, Mutual funds, they’re all at risk. We are getting into the middle stages of implosion, where I believe the public will not wake up until at least one million private accounts are stolen, and completely vanish.

    This was a truly sobering interview, and given the real losses borne by MF Global account holders in the past month, Jim’s comments cannot be taken lightly.

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December 16, 2011 Posted by | Economics | , , , , , , , , , , , , , , , , , | 1 Comment

Founder Of $30 Billion Hedge Fund Says Euro Banks Insolvent, Euro Situation Much “Worse Than 2008″!

  • A global economic, financial and monetary meltdown is coming in 2012. The Illuminists will pull the plug on the current system and lead the world to world war! They are employing their Hegelian Dialectic: Problem, Reaction and Pre-Planned Solution to destroy the current order, to bring about total chaos and finally to launch their Luciferian New World Order. This is their Order Out of Chaos, Satanic mindset. The financial detonations will start in the PIIGS, radiate across Europe, UK, Japan … and finally America. The entire world system will implode. Asia will not be spared ! Got physical gold/silver yet?

    Founder Of $30 Billion Hedge Fund Says Euro Banks Insolvent, Euro Situation Much “Worse Than 2008″! 
    by www.ZeroHedge.com
    The Founder of one of the world’s largest asset managers, the $30 billion hedge fund BlueCrest, Michael Platt, spoke to Bloomberg TV and cut right to the chase, saying most of the banks in Europe are insolvent and the situation in the region is “completely unstable.” On how he approaches market risk: “”I do not take any exposure to banks at all if I can avoid it.  All the money at BlueCrest Capital Management is in Two-Year U.S. government debt, Two-Year German debt, we have segregated accounts with all of our counterparties.  We are absolutely concerned about the credit quality of the counterparties.” On investing in illiquid assets, Platt said he “would not touch them with a barge pole” and that “the major opportunities will come post-blowout.” Something tells us Russia and China know this all too well, and realize that the best time to “invest” in Europe is after the single (or multiple) bankruptcy. Which incidentally, as Kyle Bass said yesterday, after the “blowout” is when the ECB will finally step in as well, at which point the entire world will go all in on that now infamous 2-7 offsuit. And his view on how that bluff will end: ‘In my opinion, what’s going on now is significantly worse than 2008.


    Platt on Europe’s sovereign debt crisis:
    “The level of concern of what we have about what is going on in Europe is absolutely huge.  When you evidence all over the markets that they are pricing for the potential of the eurozone break up, it is contrary to what everything is set by policy makers and by central bankers. We distill it down essential fact that we continue to focus on at BlueCrest Capital Management – if you look at the debt of Italy at 120% of GDP, which is increasing at a real rate of 5%, and if you look at the GDP, which now is forecast next year to be declining, arithmetically their debt is going to blow up.  And we don’t see anything happening at the policy level that gives us any indication that there’s anything that’s going to convert this situation from where it is now to a much more substantial and real crisis in the future.”


    On whether a blow up of Italy will force a breakup of the Eurozone:
    “We need much more radical measures to prevent this from happening.  If Italy and Spain are forced to roll their debt over, if they have to pay rates between 5 and 7% for this, then the situation in Europe is unsustainable.  We’re not going to have any euro bonds, we’re not going to have a full political and fiscal union where the transfers will take place.  It seems what we’re going to have is an attempt to control the European situation through continued austerity, which is pro-cyclical.  As the economy slows down, we end up with more austerity which creates more slowdown.  We also have a requirement for banks to increase capital, therefore we’re looking at a 3 trillion euro takedown in European balance sheets.  There’s basically nowhere I can see where we can get any growth from.”

    … for more click here!

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December 16, 2011 Posted by | Economics | , , , , , , , , , | Comments Off on Founder Of $30 Billion Hedge Fund Says Euro Banks Insolvent, Euro Situation Much “Worse Than 2008″!

“Your Money Is Not Safe!”: Gerald Celente on The Moral of MF Global’s Collapse!

  • Gerald Celente is absolutely on the money here! The western financial system is imploding. The regulatory bodies are corrupt and subservient to Illuminist banksters. You should move your money into physical gold/silver and stay away from the financial/banking system. Keep a minimum amount inside the system.

    “Your Money Is Not Safe”: Gerald Celente on the Moral of MF Global’s Collapse!
    By Aaron Task | Daily Ticker
    Jon Corzine returns to Capitol Hill Thursday for the latest hearing on the implosion of MF Global, this time before a House Financial Services subcommittee. As the search for the “missing” $1.2 billion in client funds rolls on, Gerald Celente has a message for all Americans: “If you don’t have your money under your pillow or mattress, you don’t have it all. It’s not safe.”

    Along with hundreds of other MF clients, Celente is scrambling to get his money back — he claims he had over $100,000 in a brokerage account at the doomed firm. “This is really huge,” he says, noting MF Global’s filing is the 8th-largest bankruptcy in U.S. history and this episode is the first time clients of a regulated commodities futures brokerage have seen their funds “disappear” because of a broker’s failure, rather than their own bad trades.

    MF’s collapse and the “missing” client funds may seem like a one-off — an isolated incident. Celente’s bigger point is that banks and brokerage firms can legally use client funds (i.e. your money); that “comingling” funds is neither rare nor a scandalous practice.

    The Scandal Is What’s LEGAL
    Indeed, just because money was transferred out of customer accounts to MF’s broker-dealer account that “doesn’t mean it was illegitimate,” Jill Sommers, who is heading the Commodity Futures Trading Commission’s review of MF Global, tells Reuters.


    Reuters further quotes Sommers as claiming the CFTC is “far enough along the trail that we know where all the money went. Now it’s just finding out which ones of those transactions are legitimate and which ones of them are illegitimate.”

    To Celente, the whole episode is illegitimate; another example of crony capitalism run amok in America. The trend watcher totally dismisses Corzine’s claim that he “never intended to break any rules” as Clinton-esque double-talk. Furthermore, he believes regulators have gone soft on MF Global because of Jon Corzine’s connections at the highest levels of government. A former N.J. Senator and Governor, Corzine has also been a major fundraiser for President Obama.

    “Nobody can get away with this kind of nonsense other than if you’re a member of the ‘White Shoe’ boy club and really on the top,” he says. “If [MF] were a small brokerage firm…SWAT teams, the FBI they’d be cleaning the joint out. It’d be a whole different story.” To Celente’s point, there’ve been no indictments to date and Corzine was generally handled with great care at a Senate hearing earlier this week.

    … for more click here!

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December 16, 2011 Posted by | Economics | , , , , , , , , , | 1 Comment