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anthony

uhmm...yeah... there goes Lehman.

http://news.yahoo.com/s/nm/20080820/bs_nm/lehman_korean_funds_dc_1

Lehman couldn't secure Korean Funds: report

Lehman Brothers (LEH.N) Chief Executive Dick Fuld nearly struck a deal to raise almost $5 billion from South Korean wealth funds and institutions but the pact disintegrated, the New York Post said citing sources familiar with the matter.

One source told the paper that Lehman was aiming to raise more capital than the Korean investor was willing to invest at the time.

The precise terms of the deal could not be learned, the paper said.

Lehman has more than $60 billion of mortgage and mortgage security exposure, where losses are creeping higher even on loans to the highest quality borrowers.

RobG

More evidence, this time in manipulating the Gold market, to plug another leak in the financial markets:
The Disconnect Between Supply and Demand in Gold & Silver Markets


It is obvious what they are doing. More important, however, is why? What does it mean? Well, the PPT bank executives are generally “people in the know” about financial events, before they actually happen, sue to close relations with regulators like the Federal Reserve, and FDIC. They folks are so desperate to cover short positions, that they are willing to spend a billion or so dollars, subsidize precious metal leases, to collapse the market, and destroy investor confidence. But, why? We know that the Federal Reserve, like other central banks, sees gold as a rival to the dollar. But, that’s not enough, because they’ve never attacked precious metals with such ferocity as now, and, if the Fed were directly involved, they could probably supply real metal.

If something terrible is about to happen in the financial world, the losses that big banks would take on their precious metal short positions would put most of them into bankruptcy. Remember the words of Warren Buffett. Derivatives are the financial world’s weapons of mass destruction. Precious metals futures short positions are highly leveraged transactions that could cost hundreds of billions if the price of gold were to suddenly explode.

anthony

Guys, Gold has almost no industrial use. only around 1% of annual production is consumed for industrial need. The next biggest is jewelries.

Gold is pure value storage in large part. It does nothing.

If some big central bank dumps several tons of gold into market. price is going to collapse.

Let's just say, gold industrial need is going at world growth rate. It doesn't run at 300-500%. It's just crazy arabs and indians buying bullions.

Jeremy

Elaine, I strongly agree with your comment about Christians in America worshipping money! This is very true. America is beyond materialistic, and this selfish-materialistic way of thinking and living has poisoned the church! People have juvenile, incorrect views of God...indeed, they have confused God with Santa Claus. They think that since they are "Christians" that they are entitled to abundance and wealth....they think "how can 'I' be blessed and what can God do for 'me'" This is pathetic! They have totally lost sight of what being a Christian is all about. I am a Christian (a liberal, informed Episcopalian who loves people of ALL religions) and I am so furious with the Christian community. We are supposed to help the sick and the poor, give to those in need, assist the elderly, and to be of service....but instead the church is consumed with the ridiculous doctrine that "we are gonna be rich because we are children of God, and this is our right!" People won't even put $5 in the offering plate without expecting God to turn around and give them $100. This selfish "I desrve this" attitude is rotten. I think this attitude is destroying our nation....but I think many churches and shallow Christians will ruined as well. And....since I am on a soap box....I think people in this country no longer vote for candidates based on their qualifications or how they can help the nation, but instead they vote for who they think will benefit them(and their group)financially. Greed is killing America!

G.

Just as candidates have to be interviewed
by the Mullahs in much of the Middle East, our own candidates have to be examined by our
homegrown America mullahs like "pastor" Dave.

The Muslim Brotherhood,the pre-runner to Al Queda, founded in Egypt by
a Mr Quttab in the 50's, is not much different than the modern US fundamentalist movement.

It--Islamism,the Muslim Brotherhood--was/is terrified of secular
society and social movements for national
improvement. The Islamists allied themselves with local despots and between the two put
the Middle East in a vice grip of tyranny
and stagnation.

Just as in America, our fundamentalists do
not want a secular society. They do not
want a middle class believing in themselves and having a destiny independent of huge power centers like the Corporate/Church complex. Thats why when I was a kid growing
up in a mildly fundamentalist church, I heard
so much non stop anti union propaganda from "christians". A lot from union people
themselves.

They,the fundamentalists, want a theocratic/oligarchy much like
Saudi Arabia. The Oligarchs stress out the average working person with fear and poverty
thereby throwing the middle/lower classes into the arms of the church for any hope that may be left,which is to be in the "next" world and NOT this one.

The biggest thing Jesus ever said is violated
with every "christian" fundamentalist breath
taken in.

Jesus said, "my kingdom is not of this earth"

But the Church is very much part of the "earth's" despotic ruling class and they
sit at the right hand of the Oligarch-In
Chief (who, subconsciously, is really the
"God" they always speak of) The ultimate
blasphemy actually is mistaking earthly power
for godly power.

Ralph

Anthony,
During the late 1960's the US and London bankers dishoarded 10,000 Tonnes of US gold to foreigners to pretend that the US$ was worth $35 per oz. They failed miserably. By 1980 gold was $850 per oz. 25 fold increase!
Since 1993 Central bankers around the world have been leasing massive amounts of gold into the market to pretend that the dollar is worthy of being a reserve currency. This has temporarily put a lid on gold. The 1960's experience is playing out. However, this time around we are in a system of "floating currency", so the bankers dump gold through leasing, and future derivative transactions. Evidence of this is 80% of all silver futures on COMEX are held short by 8 massive traders, as well as gold. This reeks of massive wide scale price manipulation. Imagine if 80% of the oil futures were held short by 8 massive traders? The reason they bother doing this is simple. Greenspan told everyone in his essay in 1966 "gold and economic freedom" "The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process." This is why job #1 at the FED is SUPPRESSION OF GOLD.

DP

Heres a warning sign ( To me anyway ) . Wa.Mutal must be needing to raise cash awfully bad. Was in one yesterday for bizz. Having just had a large CD rollover from 4% range to an abysmal 2% range - when asked by the mgr "Why dont you open an Account with us?" , I asked what the CD rate was. He offered an "unadvertised of 4.5%. Guess they are trying to stay afloat.

Royal Dutch Paper

I think that the feds job is not the suppression of gold, but to keep their monopoly of it intact.That is why American history is wrapped in silver. I am curious to see if these massive shorts in gold and silver can hold out the massive deleveraging in play now? Or will the monied cabal hire communists to liquidate the west? Anyone have any insight in the chinese wanting to take control of bhp billiton?

Buffalo Ken

Yep, they all think they need to talk to the "crooks" if they want to stay around....

.....meanwhile, forces that don't take things trivially have been amassing....and now they are tired of the bullshit...tired of the fish shit....ready for something new...

....coming from the perspective in my humble opinion of a "buffalo" almost wiped from the planes, but the nonetheless, knew how to hod on so......

Royal Dutch Paper

Doesn't Lehman have a chair at the Fed. hehe

Buffalo Ken

meant to say knew how to survive one way or another!

thats all...sorry for the interuption of the most important discussion...in the minds of the discussers...don't you agree?

Buffalo Ken

Royal Dutch - are you of the tulip?

Buffalo Ken

Cause me - I'm fast but I can't fucking stand Texas. I want Texas out of the Union.

But hell, if you ever clicked on my link you would know that what I really want is for the Confederacy to choose now as the time to return....that is what I want because I love living and I love life...

Peace,
Ken

Royal Dutch Paper

Read Denningers article today. Couldnt agree with him more.
http://market-ticker.denninger.net/index.html

One thing he might have overlooked......

Even Pharoh's heart was hardened........

Buffalo Ken

and those who have lost their way are about to slip slide somewhere.....

Else --- sorry but seems this needs to be...

I was hoping not. Really.

And yes, I am crazy.

P.S. - I mean it about Tejas - I wrote a whole story on this, but his story is no longer readily available - it used to be, but not anymore. Not unless it can be appreciated for what it is worth. You know?

Royal Dutch Paper

Dont own tulips. Is Wachovia doing the same as WaMu?

Buffalo Ken

Royal Dutch that is amazing. "Wachovia" (the name comes from North Carolina) is MY bank. I support Wachovia, but I won't deny I am concerned about some of what they have done. Used to be First Union. Maybe that was a better name. Of course, maybe not.

Royal Dutch you can have all of my tulips. I know they are worthless.

Buffalo Ken

And furthermore Royal Dutch, I am wide open. I have published my name, my location, etc. Everything about me is publically available. You can even get for free a picture of my front driveway. Amazing, if you ask me.

Hey, if you can get it, check it out, I have a mailbox that I made my hand sitting out there.

Peace,
Ken

Buffalo Ken

"that I made By hand"...

oh and by the way, brigum young out of utah was even more confused than jackson and his stupid spouse who thought it was all a funny game....

Bear of Little Brain

Off-topic:
Turkey has today approved transit of two US Navy ships and a Coastguard cutter into the Black Sea. This is not looking good.

Buffalo Ken

the buffalo protects the young....

better figure it out quickly because let me tell you honestly it is coming and it understands about time...

Buffalo Ken

The US Navy has gone crazy. All over the place, and all they ought do is project the coast. Oh how the navy can protect.

The Navy is practically all we need - lets bring em home.

The marines - I don't know.

The army - keep the tanks around Fort Knox for the time being.

Peace,
Ken

Buffalo Ken

Hey so let me tell you. For the whole past week I have been putting in laminate floor from Costco. Working my physical bodily ass off. Working hard and learning too.

It has been great, but today the women of the house complains about the quality of my work. To be honest, I don't need the money, and now I'm thinking I'm not sure I want any of it. It all seems so tainted to me.

Anyhow, it is wide open at this moment. I had to leave this women. Leave her alone when she should of been with her husband who was having some sort of hand surgery.

Anyhow, just a bit about me. In my personal opinion (that may be mistaken), I like the husband -- he seems amazing. His spouse - she seems like constant maintenance, but of course, I could wrong.

Buffalo Ken

and anywho sometimes maintenance is kindof fun...

Richard

You correctly relate that "Modern American Christians mostly worship money. They follow the Whore of Babylon slavishly. They want Santa Claus, not Jesus. This is very clear."

I believe the Whore of Bablylon (Revelation 17:1) is American Capitalism; the account of what happens to Mystery Babylon is an awe inspiring story.

Modern Christianity is as Frank Viola relates Pagan Christianity.

I am a Christian, one formed by the Lord, in his Person, Will and Way.

I don't want a false Jesus, I want the real live person.

Jesus gave me His Word, through his bosom buddy, the Apostle John, that a systemic risk event is coming; and yet somehow the world will recover; and its people are going to follow after the beast system. (Revelation 13:3)

The Lord has foretold that either this world is going to put me out (Revelation 13:10); or the Lord is going to take me out (Revelation 12:6).

As always, keep up you good work, and best to you.

Buffalo Ken

Hey Richard - basically I think I agree with you - there is going to be a transition.

Whether this transition is disruptive or not depends on how folks respond. I have invested in gold and silver as well as Canadian and Swiss currency. This is my investment to try to survive the coming disturbance that we all know must come.

Hey don't forget what I already said about Billy Gates and his spider friends! Ha. Ha.

Peace from me to you and to your family.

Peace,
Ken

don

You people have it all wrong, everything is fine....Quotes from the Treasury Secretary.
Who is regulating who. Who is not regulating who. Who really knows what is going on..Seems like the Govt. and Wall
Street is trying to figure this mess with no light at the end of the tunnel......What a joke.....................................

Buffalo Ken

Hey and I only talk that way because I have been to Richard's site and I think Richard has passion. I appreciate that.

Buffalo Ken

Hey don - are you dandy? I doubt it.

Buffalo Ken

But I don't really know you - you just seem to have a serious attitude.

If you are dandy then why don't you just start showing what you are made of. Let us all know Dandy Don.

Otherwise, .... well do u need me to say it?

Buffalo Ken

Cause I will. I'm a german, irish, scottish, catholic, and otherwise very fooled up fella who has many forces running through me - just like in america - a country that once thought it was the "melting pot"

Bear of Little Brain

Omens:
Empire State Building, completed 1931
North Tower WTC, completed 1972
Burj Dubai, due for completion very soon:

http://gizmodo.com/photogallery/amazingburj/1003229295

It's the first in a gallery of photos.
Anyone sense a recession?

And imagine being the crane operator!

DrKrbyLuv

The economy is falling out of the controlling hands of the Fed and the corrupt Bushites. Russia has had it with US neoconmen and are calling them out. There is a great article by Paul Craig Roberts - one would think Roberts would carry the "gravitas" to be covered by the MSM - see below note on Roberts.

In the article Roberts quotes Pravda literally saying "Bush, why don't you just shut up?"

http://www.counterpunch.org/roberts08132008.html

Note: Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review.
__________________________________________

America's moral high ground was conceded through the Iraqi fiasco and now, Israel and the US have been selling arms and encouraging the crazy and corrupt Saakashvili to cleanse South Ossetian. The neoconn Mein Kampf was carefully written by the PNAC (Project for the New American Century) and of course the Russians read it and understand they are under covert attack.

http://www.youtube.com/watch?v=1uT7kcAu4i8

I think the race is on between a home brewed financial crisis and a crisis precipitated by the past cold war gone hot.
__________________________________________

Elaine -

I loved your reference to the the 1960 Pirates/Yankees world series. That was maybe the best world series of all time! I lived in Pittsburgh at the time and was in 2nd grade...I had a small transistor radio (complete with earphone - the wires could be hidden) that used to hear the games while looking attentive in class, but as always, the nuns caught me.

Gk

Speaking of collapse...

http://existentialistcowboy.blogspot.com/

Elaine Meinel Supkis

I was rooting for the Pirates, Dr. They were just fabulous back then. When I moved to Brooklyn, it was the Mets since the Dodgers were hauled out of town.


Politics with Russia isn't baseball. It is ice hockey with no referees to call on high sticking, fist fights or other violence. Pure, unadulterated fighting.

Everyone who has ever entered the Russian arena ready to punch the ice hockey bear in the nose ends up a bloody heap on the ice.

By the way, the Canadians invented this interesting game [I figure skated for years and knew many hockey players in NJ and NY]. During WWII, they taught it to the Soviets who took to the game like ducks to water.

don

Buffalo Ken, I was being facetious about
our current Financial system that is a mess.
Chill......We know what kind of mess the
Bushman has created with his Oil buddies.
Go look up Vitol and its Corruption with the
CFTC. Ken, I posted yesterday about the Middleware platform concerning the Triggers,
Api codes, maybe you could give us your take concerning the compatibility server?
You didnt pose a threat then with that post?

Buffalo Ken

don - if i said something that offended you i apologize. Plus I kind of have no idea what you are talking about "middleware", "api codes", "triggers" and such. Its all greek to me, and just now I don't have time to try to figure it out.

In fact, I've tried this before but I am going to try again. I've got to stop posting on the web. I get too emotional. Sorry Elaine if I have cluttered up this site.

Peace everyone.
Ken

P.S. This morning I told my wife that my new plan is to just go "insane". It will be so much easier this way...

don

Ken, apology accepted, I enjoy a lot of your post. keep posting. that is how I
learn about our corrupt govt..thanks...

eMoneyMakingOnline

"the proportion of people taking non-traditional loans went from less than 3% to more than 45% in less than 7 years"...nicely said.

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