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B4 the Bell, Turdsday Sept. 23, 2004


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#1 Guest_yobob1_*

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Posted 23 September 2004 - 06:53 AM

Welcome to B4 the Bell.

Anyone that is being personally attacked via PM, e-mail or directly in the forums by lurking curs should report them to Doc or any moderator. Look just about anything goes here, but personal attacks are strictly forbidden and will not be tolerated. Besides anyone with half a brain, such as myself, knows that humor and wit are far more effective at making a point than is calling someone a doody head. :lol:

Now play safe, have fun and mind your manners.

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Follow the bouncing buck
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Kitcos charts are acting a little screwy and yesterday I quoted a bad print on the Nikkei they still have posted, but I think the spot prices are OK. That said, there isn't a lot of action other than I note that platinum has recovered from a negative to positive in London with only palladium lagging the PM group.

Das CRB 1 Year
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``Market traders are suggesting that this oil shock is likely to be with us more than many of the previous ones,'' Gramlich said. Faced with a choice between combating slower growth and faster inflation, ``the worst outcome is for monetary policy makers to let inflation come loose from its moorings,'' Gramlich said. ``That, I think, we have to avoid at all costs.'' ]

Hmmmmmmm, does Gramlich think deflation is preferable to inflation? Perhaps the fed has seen the end game and knows it is in a no win situation no matter what they do. So do you allow inflation to destroy the value of your massive amounts of paper assets or do you risk deflation and allow the values of the underlying assets to fall knowing full well that not everyone will default? In the end if any one bank survives it will at least have real assets on it's books albeit at a greatly reduced value once marked to market. Remember the fed is primarily owned by Europeans and GB. They really don't give a rat's ass about banks in America other than the 12 member banks.

Federal Reserve Chairman Alan Greenspan has repeatedly rejected that idea, saying he believed house price increases would moderate as sales slowed.

In an essay in its latest World Economic Report, the IMF said that while U.S. housing prices were not likely to decline, there was more of a risk in Australia, Ireland, Spain and Britain.

"The growth rate in U.S. house prices is projected to slow down over the coming year and a half," the IMF said. "This slowdown is primarily due to the rise in long term interest rates expected by the futures market. ... This analysis, however, does not find compelling evidence suggesting that a real house price drop is in the offing."


We don't see no stinking bubble

Ah yes, the permanent plateau of prosperity. This report is brought to you by the same people that have fostered every third world debt crisis since their formation. Obvioulsy they know what they are talking about, not to mention they loaded up their boat with GSE paper. :P

#2

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Posted 23 September 2004 - 07:01 AM

Military supremacy comes with a price, however, and US military doctrines for success require, fundamentally, huge quantities of oil to fuel the military machine and thus allow the US to remain a superpower. Control or security of low-cost oil reserves from the Middle East is therefore vital to US interests if it is to maintain its eminent hegemonic position in the world. It is for this reason the US takes an active interest in the politics of the Middle East region

http://www.atimes.co...e/FI23Aa01.html

#3 Lock Limit Down

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Posted 23 September 2004 - 07:03 AM

"Ah yes, the permanent plateau of prosperity. This report is brought to you by the same people that have fostered every third world debt crisis since their formation. Obvioulsy they know what they are talking about, not to mention they loaded up their boat with GSE paper"

EXCELLENT

Did I say Yobob
You Da man!!!!

With the clownbuck weak this morning the metals are poised to run and never look back. The loonie hit 78 last night and has a rocket of its on about to be lit.
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"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

#4 Hiding Bear

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Posted 23 September 2004 - 07:15 AM

For whom the bell toills:

I find it unbelievable that the executive teams at Fannie and Freddie have managed to screw up what may be the sweetest deal in the history of mankind. Freddie and Fannie, as federally chartered institutions, have the implied faith and credit of the U.S. Treasury behind their debts. There is no statutory cap on their sizes, so these companies can simply take on more risk and pile on more debt with the spoils of success going to shareholders, the agony of defeat going largely to taxpayers. Should Freddie or especially Fannie collapse, the cost to the U.S. economy would be massive, so unlike companies where executive malfeasance is a risk only to the company's stakeholders, that there is even a question of Fannie Mae monkeying with capital is simply beyond the pale. If this isn't a scandal, it damn well should be. Those responsible shouldn't be entrusted to feed their neighbors' hamsters, much less run one of the most important, dangerous enterprises in the world, which is precisely what Fannie Mae has become.


http://www.fool.com/...ary04092201.htm

They're back:

The remnants low pressure area that was once Ivan has found its way all the way back to the Gulf of Mexico and has now redeveloped and earning tropical storm status. The system is heading toward the Texas Coast and will likely make landfall late tonight or very early Friday. While Ivan is not expected to pack a major punch with wind, it will cause coastal flooding and possibly inland flooding. Meanwhile, Hurricane Jeanne, several hundred miles east of the Bahamas, is one to watch closely if you live along the coast of the Southeast. Jeanne is migrating toward the southwest now, but a large high pressure ridge building north of the storm may drive it west, back toward the southeast coast of the U. S. over the next several days. Come the weekend, residents from the Carolinas to northeast Florida may be glued to their TV sets,


http://www.weather.c...al/?from=0803wc

Country, lend us your oil:

Sept. 23 (Bloomberg) -- Crude oil fell from a record high in London on speculation the U.S. may use oil from its emergency stockpiles to keep refineries running after Hurricane Ivan curtailed supplies from the Gulf of Mexico.

Refiners asked to borrow crude from the Strategic Petroleum Reserve to recover losses related to the storm, Dow Jones Newswires reported, citing a person familiar with the matter. Traders who watch price charts said Brent crude, which gained 11 percent in the past week, was ``overbought'' based on a nine-day relative strength index of almost 70 yesterday.

``A loan of crude oil to refiners from the Strategic Petroleum Reserve is very different from a full-blooded decision to release oil from it,'' said Kevin Norrish, an energy anal cyst at Barclays Capital in London. ``I wouldn't be too carried away with today's drop. It's mainly a technical move.''

Seven platforms anchored to the sea floor in the Gulf of Mexico were destroyed in the storm, said the Minerals Management Service, a bureau in the U.S. Interior Department that manages offshore oil, gas and mineral resources.

The agency said four platforms were presumed sunk. Leaks were reported at 13 pipelines. Ivan cut oil production by a total of 9.05 million barrels since Sept. 13, according to a report from the agency yesterday.

Without a release of oil from the strategic reserve, ``the storm impact will tighten U.S. inventories for the next few weeks,'' Citigroup Inc. anal cyst Doug Leggate said in a report. ``This will likely keep oil prices taut in the near term.''


http://quote.bloombe...efer=news_index

Silver cleared for takeoff:

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#5 DrStool

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Posted 23 September 2004 - 07:30 AM

Got a hurricane coming at me again.

http://www.sfwmd.gov...ts/storm_11.gif

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Posted 23 September 2004 - 07:32 AM

Jeanne has been kicking up the surf here for days. The beach is MIA, but the bodysurfing is as good as it gets...provided you survive the rip tides and body slams.


After a warm-up lap around the Atlantic, here comes Jeanne.

http://www.nrlmry.na...i_gif_full.html

#7 The brown one

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Posted 23 September 2004 - 07:54 AM

Don't see Brent coming off its highs!

Looks like there's still some upside.

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#8 machinehead

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Posted 23 September 2004 - 07:57 AM

From what I can gather, Deep Blue Sea and a half dozen aliases, is back.

:ph34r: :ph34r: :ph34r:

A dark shadow falls across the board. We are being cyberstalked. :o

But if we all stay alert and united, no one will get hurt. :mellow:
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

"No gold was harmed in the making of this movie." - Bizarro Greenspan

[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals."
- our jickiss

#9 DrStool

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Posted 23 September 2004 - 08:08 AM

I have taken a room in Ft. Myers. Hopefully those of us on the east coast will be spared the brunt, but just in case power is out, I should be able to publish from over there on Monday, if necessary.

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Posted 23 September 2004 - 08:11 AM

I have taken a room in Ft. Myers. Hopefully those of us on the east coast will be spared the brunt, but just in case power is out, I should be able to publish from over there on Monday, if necessary.

I'm probably headed for Key West this time.

http://www.nrlmry.na...i_gif_full.html

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Posted 23 September 2004 - 08:25 AM

I heard an interesting legal discussion on Rathergate last night. Whomever generated the documents that CBS aired committed a very serious crime by forging and "publishing" government documents with intent to cause harm to the President. They stated that if more than one person was involved, it falls under the category of a "conspiracy" (so for all of you who called me a conspiracy theorist, I accept the compliment). The irony is that quite literally anyone who could reasonably have known these documents to have been forged, knew they were about to be "published" - and made no effort to prevent it, automatically becomes part of the conspiracy by their inaction.

The White House staff and legal counsel reviewed these documents, as did the President, in advance of their "publication" through their exposure on 60 Minutes. If these guys presumed them to be forgeries, regardless of their origin, and did nothing to prevent their publication, they are as guilty as those who created them in the eyes of the law.

This could get damned interesting.

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Posted 23 September 2004 - 08:32 AM

Jobs numbers are out and CNBS is playing them down (initial claims up 14,000).

"It doesn't matter that we are no longer adding jobs."

This number is designed to allow the continued decline in Ten Year Yield.

#13 stl_sftnr

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Posted 23 September 2004 - 08:38 AM

I have taken a room in Ft. Myers. Hopefully those of us on the east coast will be spared the brunt, but just in case power is out, I should be able to publish from over there on Monday, if necessary.

Ivan is not dead yet. It is making another landfall on TX coast.

Tropical Storm Ivan

#14 Lock Limit Down

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Posted 23 September 2004 - 08:39 AM

Not another stoolie driven away by the darkside. I don't know what caused Butterfield to leave. I don't even want to know. To attack a fellow stoolie behind closed doors is a reflection of the character of the jerk who doesn't even have the guts to go public. As I have said before..You cant find a community of more enlightened, intelligent and truth seeking individuals anywhere else on the WWW. All members who have respect for the opinions of others should NEVER be attacked. The integrity of this site would soon be sacrificed should these creeps be allowed to slip through the cracks and ruin what Doc has worked so hard to accomplish.
Butterfield ...you are amongst friends here. Don't let some gutless lowlife take you out of the fold. Your contributions are valued and appreciated.
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"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered." --- Thomas Jefferson

#15 machinehead

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Posted 23 September 2004 - 08:39 AM

NYC-area Stoolies may be interested in this -- The tri-state Vectorvest group is inviting the public to its Oct. 2nd meeting in White Plains. Gerald Appel is the feaured speaker. He's a "senior statesman" of TA, having written a dozen books since the Sixties, and invented MACD. Go here to sign up:

http://64.177.91.220...iewlet_swf.html
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

"No gold was harmed in the making of this movie." - Bizarro Greenspan

[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals."
- our jickiss





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