Oldtent Archives 2007 - 2008

Therein lies the only remaining “asset” backing the US currency and financial structure…

The emperor is naked…but armed to the teeth.  

Former U.S. Coast Guard Commander Borgerson warned of possible armed conflict between the U.S. and Canada.  The former commander suggested that “Unless Washington leads the way toward a multilateral solution, the Arctic could descend into armed conflict”.  Gee, I wonder who would “win”?  <g> Equiz.

http://tinyurl.com/2jdgch

As I have noticed the same type of price movement “not as pronounced as Fridays ” in Gss share price at prior days of option expiring and there has been some comments here about useing options as insurance, Can I assume that naked writers of the calls were asked to deliver shares they didn’t own, which then drove the price up as they scrambled to purchase at the end of the day. Is this the only option configuration that would have caused this type of price swing in their shares. TIA. for all comments

manage to get total ownership of their mortgaged home for free.  This possibility was mentioned by JS’s editorial today with the suggestion:  “So far courts have held that the only entity that can foreclose is the entity that actually lent the money.  The average guy does not know that with an attorney to protect him he has a free house !   The entity that actually lent the money has sold the mortgage and been paid.  Therefore where is the incentive for the original lender to foreclose?  The answer is there is none.”

Interesting way to accumulate more net worth there.  Almost as good as investing in the PMs. <g>   Equiz.

this is what a “safer financial system” looks like

food for thought…..

Damage to securities revealed in court

By Gillian Tett in London

Published: March 23 2008 19:04 | Last updated: March 23 2008 19:04

The first public price estimates for specific structured credit securities to have emerged since the start of the credit crisis show that values have fallen sharply.

Some securities have lost almost a third of their value – even though many were considered to be so safe that they carried top-notch ratings from the credit ratings agencies.

Meanwhile, some subprime mortgage-linked securities issued by groups such as UBS have lost almost 95 per cent of their value.

The price estimates were made in a legal filing following a decision by JPMorgan Chase to ­publish detailed securities valuations in a Canadian court. The securities are linked to commercial loans and medium-grade mortgages.

The estimates are likely to be scrutinised by auditors and regulators since they come at a time when the issue of security pricing has become controversial.

Banks are under pressure from regulators to book losses they have incurred on such instruments. However, trading has virtually dried up in many corners of the credit markets, and it is hard to compare prices for these instruments between banks.

Many regulators and investors fear that banks are still varying in the degree to which they have booked losses on their credit instruments in recent months – not least because it is hard for auditors to compare internal estimates with external benchmarks.

The figures have emerged because the US bank is leading an effort to restructure a group of 20 Canadian structured investment vehicles that issued $32bn of asset-backed commercial paper.

JPMorgan and Ernst & Young lodged a report with an Ontario court gives estimates for the securities held by the Canadian SIVs based on implied values.

They are going after the Euro again tonight so I think I will put my hat on  and head to bed.  May the force be with you on the scalps! 

but but but we have benny boop to keep us warm and well fueled. hahahahaha. what a con our wonderfull nation has turned into. but not to fear the goober says we gots a strong duller policy. wj

Gonna be alot less of them carbon credits needed before long - $4.06 a gallon for diesel -but there is no inflation.   Some of these independent truckers will have to park.

NEW YORK (Reuters) - The average price of a gallon of gas in the United States has risen to a record $3.26, and the cost of diesel fuel has soared to a record $4.06 a gallon, adding to pressure on consumers and the companies that deliver their goods.

Bottom of the 7th in Game 3.  The Longs are up at bat:

omencity.com/forum/viewtopic.php?t=2912

carefull of the gore-ster. he might just get the impression your ‘infringing’ on his territory selling them ‘carbonee crebits’ and send ya to gitmo. …he knows people in low places ya know i hear? [g] he might even ’spill the beans’ to hillbillery and that’ll surely raise a stink! wj

And there you go again spreading the truth about all this global warming!  I’m going to drive over to Al Gore’s house here in Nashville and tell him about you! 

You better get on a plane and head to the BIG ISLAND of HAWAII - somebody over there needs to buy a bunch of those certificates for all the stuff that volcano is spewing into the atmosphere.   Maya can probably point out the mayor or someone who should have to pay! 

http://travel.latimes.com/daily-deal-blog/?p=1548

Let’s see. I’m not sure. I’m waiting to see if Shanghai and Hong Kong are in business tonight. But it surely looks like the Aussies are taking a break tonight. And I don’t blame them.

JBI

….opens UP more than 5%.

finance.yahoo.com/intlindices?e=asia

Taiwan’s Weighted Index thru Friday

JBI