Oldtent Archives 2007 - 2008

For your reading pleasure re the festering Bank implosion Situation.
Most Interesting blog

32 banks about to fail — according to Middleton

Wells Fargo
Popular Inc
SunTrust
KeyCorp
Synovus Financial Corp
Marshall & Ilsley
Associated Banc
First Charter
M&T Bank Corp
Huntington Bancshares
BB&T Corp
JPM Chase
U.S. Bancorp
Bank of America
Capital One
Nara Bancorp
Sandy Spring Bancorp
PNC
Harleysville National
CVB Financial
Glacier Bancorp
First Horizon
National City Corp
WA MU .
Countrywide
Regions Financial Corp
Citigroup
Wachovia Corp
Zions Bancorp
TriCo Bancshares
Fifth Third Bancorp
Sovereign Bancorp

……..Looks Like soon there will only be 1 Bank…..Goldman Sachs…..One Currency….One Bank….makes it a whole lot easier I must admit……dont have to worry where to get the best return on your Borrowed money…Just go to the One Bank….give them your paycheck…they pay your bills…and give you a loan too….great idea….simpify ….

image006.png

Looking at risk from this perspective, we not only see who has no clothes on when the tide goes out, but also how well (un)endowed they are in addition.

Please keep in mind that some loans and banking products are much riskier than others. Due to this, I have culled what I believe to be the riskiest products to short list the banks. We have already addressed 2nd lien loans. There is also construction and development (C&D) loans that are still on the books that are by far, much riskier than the conventional commercial loans - which are risky assets themselves in this environment. An off the cuff, anecdotal assumption would be that 20% of these loans will be in default in many areas, with greater numbers the newer the vintage. For a category such as high rise condos, they are usually 24 month, interest only, 20-30 year amortization. The intent is to have them refinanced into permanent loans upon construction completion, which is difficult for projects such as condos. Construction costs have spiked, supply is up and demand is down. Those banks with high LTV C&D loans (ex. Corus Bank) and any 2nd lien loans over 90 LTV should be high on the short list. One to four family properties are also quite risky, for amateur (and not so amateur, actually) investors bought buildings without a firm (or even loose) understanding of cash flows, cap rates, and rental yields - aided and abetted by the banks which apparently missed out on the cash flow valuation memo as well. Well, those who overshot the predictions of rent rolls, undershot the estimation of expenses, or took out volatile ARM products ended up not only underwater, but with negative cash flow as well. It is much easier to walk away from an investment property than it is to do so from your home. As you can see from the graph below, my assertions seem to be ringing true. The rate of change in delinquencies in these are SKYROCKETING!

….does that sound Right to anybody…?…..Yo…Aggie….Okie…Equiz…..TQ…….I thought Salmonella was a Meat thing…?

Go, Fully!

JBI

PS - Ment17, you gonna weigh in on this? Tomatoeless Tacos?

PS2 - Anybody ever hear anything else about all those missing bees?

….Maybe it’s my Conspiracy Theorist Bent but…is it a coincidence thaT…THE HEALTHIEST THING MCd’S SERVES IS THE ONE INGREDIENT THEY DO AWAY WITH…….AND…hOW MUCH WILLL THE sHAREHOLDERS BENIFIT DUE TO THESE INGENIOUS MEASURES FOR COST CUTTING !……SORRY ABOUT THE CAPITALS….THEY were stuck on……musta been HUMANOID

….Did MCDonalds shares go up today ?…is that why the Dow was so strong ?….”Yes we have No Tomatoes at McDonads”

….What does this have to do with PMs?…..Nothing…we need to be distracted right about now though…..from Oil/Gold Gold /Oil…Old/Goil….ratios…..

…..may have taken a turn for the worse, now closing below its 50 day moving average once again…..

Strong support around 230-232?

JBI

Sometimes I get so confused, but I will keep trying to make heads or tails out all these GOLD:OIL, OIL:GOLD ratios.

YIKES!!!

JBI

Here is a screen shot of it and a different url for many charts where it cam e from.

http://www.chartsrus.com/

McDonald’s, others pull tomatoes over salmonella

CHICAGO - McDonald’s, Wal-Mart and other U.S. chains have halted sales of some raw tomatoes as federal health officials work to trace the source of a multistate salmonella food poisoning outbreak.

Burger King, Outback Steakhouse and Taco Bell were among other restaurants voluntarily withdrawing tomatoes from their menus, following federal recommendations that consumers avoid red plum, red Roma or round red tomatoes unless they were grown in certain states and countries.

McDonald’s Corp., the world’s largest hamburger chain, stopped serving sliced tomatoes on its sandwiches as a precaution until the source of the bacterial infection is known, according to a statement Monday from spokeswoman Danya Proud. The Oak Brook, Ill.-based company will continue serving grape tomatoes in its salads because no problems have been linked to that variety, she said.

The source of the tomatoes responsible for the illnesses in at least 16 states has not been pinpointed. The Centers for Disease Control and Prevention has said at least 23 people have been hospitalized, and no deaths have been reported.

In downtown Chicago, travel agent Connie Semaitis, 49, bought a cheeseburger and a drink at a McDonald’s restaurant during lunch hour Monday. She said she was happy the chain was being cautious.

to read entire article:
tinyurl.com/5sjntc

~ ~ ~ ~

Here’s to good health, tenters!!!!

JBI

MEMORANDUM TO ALL AMERICAN EAGLE AUTHORIZED PURCHASERS

FROM: Cathy Laperle
Team Lead, Bullion Program
United States Mint

SUBJECT: American Eagle Silver Bullion Coin Update

The United States Mint has been informed by its silver blank vendors
that the volume of blanks they will be shipping to us in the coming
weeks will be significantly reduced. Specifically, the quantities they
will ship to us during the week of June 9 are expected to be less than
half the quantities they shipped to us during the week of June 2. Our
vendors, however, expect to be able to make incremental increases in
supplies each week thereafter. In the mean time, the significant
reduction in the number of blanks they supply to us will, of course,
directly affect the quantity of coins we can make available for
allocation to our Authorized Purchasers. Accordingly, the United States
Mint will continue allocating American Eagle Silver Bullion Coins per
the process initiated on April 21, 2008.

As you know, in the first six months of 2008 production, the United
States Mint produced more American Eagle Silver Bullion Coins (10.07
million) than we did during the entire 12-month period of 2007 (9.03
million). The United States Mint stands ready to continue this high
level of production as additional blanks become available from our
suppliers.

The United States Mint is making every effort to increase its
acquisition of silver bullion blanks that meet the specifications and
requirements of the law. In our efforts to meet unprecedented demand,
the United States Mint is again preparing a request for proposals (RFP)
for additional silver blank suppliers. Additionally, we are not using
incoming supplies of silver blanks to produce numismatic versions of
these coins (American Eagle Silver Proof and Uncirculated Coins); all
incoming inventory is being used solely for silver bullion coins during
this reduced supply period.

Thank you for your patience and your continued support of the United
States Mint American Eagle Silver Bullion Coin Program.

6/6/2008 12:44:04 PM (Eastern Daylight Time, UTC-04:00)

Hey, grin! Could you try that link one more time. Or maybe there is something wrong at my end. I’m getting what you see below.

~ ~ ~ ~
“Forbidden
You don’t have permission to access /charts/AuCL.gif on this server.

Additionally, a 404 Not Found error was encountered while trying to use an ErrorDocument to handle the request.

——————————————————————————–

Apache/1.3.39 Server at www.sharelynx.com Port
~ ~ ~ ~

I’m trying to make something of this GOLD:OIL ratio, but just don’t seem to be able to put a whole lot of weight behind it. Yes, I think OIL will drop eventually and I mean drop a lot, while GOLD explodes to the upside, but how it will do it is beyond me and I’m just not so sure that I should pay that much attention to it. But what do I know? {G}

Thanks, buddy!

JBI

it just doesnt jive with oil at 138 ( 3.5 times the 1980 high)

and gold a 19$ above its 1980 high.

Gold peaked before oil back then.

http://www.sharelynx.com/charts/AuCL.gif

wrote about his dislike of Ray a few years ago. Sterling might be worth a look again.

i’m going to ring your neck— after our talk in Ga.— I bet the farm on Sterling,  ( also on hearsay from some dude  aka       ’ the stalker’ )    and today and few minutes after/before Maya,  that irish’s  “buddy”  ray de…  was fired by board of directors !!!!!!!  Irish …is that because you hired him for   ‘a job’  out-of-country  ?????  lol        you are going to make me drink a Molson’s XXX  with cannuckgold  as we cry in our beer together !!!  lol     wwweeeeeeellllll —– that was speck money anyway.  Irish if you do get in touch with ray…….. see if we can get some inside information.

Hey, Ray is gone from SRLM now, and they have an actual working mine.  If that really IS a double bottom, maybe it’s time to….  buy more!