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swordfish

Currency crisis

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Maybe when FRN's finally become completely and totally worthless, nobody will care about the Fed and its worthless funny money.

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OH FOR CRYING OUT LOUD CAP!

 

The District Banks are owned by all the member banks. There's no secret here. Every bank that has the Federal Reserve System sticker on the window is an "owner" of stock in the district bank of which it is a member, as required by the law.

 

Who owns those banks? Please. Please. Tell me you don't understand that these are stockholder owned public corporations.

 

Just like if you own 100 shares of C or BAC or WFC. What control does that give you?

 

This is a non-issue. There's no conspiracy. No hidden ownership.

 

We already know that the Fed exists to serve the banks. This is not news.

 

The ownership is NOT THE ISSUE. The CRONYISM is the issue.

And on it goes, just like the zombie markets. :P :D

 

groundhog-day.jpg

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...

Additionally, in the US my prior research into the CFTC showed that the major market players do not have the restriction like individuals or other corporations that they must typically use margin like the rest of us. Without even the need for margin, the major market players can move the futures almost at will ABSENT any overwhelming outside selling coming into the market.

...

Margin is paid the same way by all using exchange traded products. The novation and clearing house mechanism makes sure of that.

 

OTC is more based on credit ratings, yes, but that counts for corporations too, not just banks and funds.

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NZD nearing the lows for the move...something smells in currency land....

 

What are your thoughts on the euro? Looks like it could easily tag 1.525 or even 1.550. Only wonder where that would put gold, or the dollar for that matter.......sheesh...........

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AUD creeping towards the edge as well...

 

On past Thanksgivings, there have been some serious dollar massacres...perhaps we get a twist this year?

 

So far, EUR CHF CAD not showing any major sign of reversal, but if NZD and AUD let go, that might change quickly....

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"There is only a relatively small group of investors who very seriously believe that there is a high level of risk that the (financial) system could break down. You only need a relatively small group to believe this to move the price of gold." In other words, the metal's price behavior reflects the trivial obsessions of a discredited fraction of investment opinion.

-Alan Greenspan

 

What an idiot.......

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What are your thoughts on the euro? Looks like it could easily tag 1.525 or even 1.550. Only wonder where that would put gold, or the dollar for that matter.......sheesh...........

 

As I said yesterday, the 1.4950 area was critical...we now have a breakout from a big consolidation area. The only thing that would make me bearish on Euro now would be a complete reversal of this last leg up.

 

I can see that possibility, especially if NZD and AUD start falling. If AUD loses 92 area, that might be first sign of trouble.

 

Also we are likely very close to a swing top in Gold, although I can see the possibility for only a small pullback here, and then one more big ramp into early December.

 

Should be an interesting next few days into next week.

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Margin is paid the same way by all using exchange traded products. The novation and clearing house mechanism makes sure of that.

 

OTC is more based on credit ratings, yes, but that counts for corporations too, not just banks and funds.

For you and me, yes.

 

The CFTC rules are not the same for the major market players. As merely one example 17 CFR Section 39.2 exempts an entity that is a "clearing organization."

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More in the UFB category <_<

The SPE Petroleum Resource Management System is a license to print money and steal from banks and shareholders. Hocus-pocus of Monte Carlo probability means nothing, unless you have an actual oil or gas discovery and conclusive geoscience that proves the areal extent of reserves.

 

The SEC is at it again.

 

SA

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For you and me, yes.

 

The CFTC rules are not the same for the major market players. As merely one example 17 CFR Section 39.2 exempts an entity that is a "clearing organization."

Anyone who is trading exchange based products for profit falls under the same rules.

 

Market maker may appear not to due to the acceptance of their hedges as genuine offsets. But this applies to retail traders as well. Basically portfolio margin.

 

"Clearing organizations" are not trading for profit. They are doing cash settlements. Why would they pay margins?? That's for the trading bank, not the clearing bank. Duh.

 

Dude, you seem to be bordering on the conspiracy fringe here.

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Happy Thanksgiving to Doc and all.

 

I see they've been taking a bit of profit in overseas markets since Wall Streets close yesterday. Yippeee.

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Most big clearing firms are also trading firms. Bear Sterns was either the largest or second largest clearing firm at the time of its demise.

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