Voltron says: Lehman finally cracked $12 today. Then $11, then $10, then $9 and is now trading with an 8 handle. I’ve covered my short position.
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Long: GLD
Voltron's economics blog. Started in Iraq in 2007 as the "Gamblers Anonymous Support Group" email list.
Disclaimer
This is not an offer to buy or sell securities in any jurisdiction. This blog is for informational purposes only. I do not give legal, tax or accounting advice of any kind. I am not a licensed financial advisor. I make no representations as to the suitability of any transaction at any time. In fact, you should ignore everything I say.
Voltron's Current Forecast
Wall Street and the government are about to engage in battle and recriminations in the face of a massive wave of foreclosures. Wall Street will start yanking the leash, causing stock market crashes whenever the status quo is threatened.
The economy is fake and is dominated by fraud and criminal activity. The government is running several giant ponzi schemes.
The DOW/GOLD ratio will drop to 2.
The Fed's announcement that they are going to print a Trillion dollars and use it to buy debt is the proverbial "crossing of the Rubicon" The US Dollar is toast. I think the trigger will be some of the smaller holders of Treasurys (Singapore, for example) trying to dump their holdings before China does. This will cause a panic stampede out of Treasurys which will destroy the dollar.
Wells Fargo are liars. They have over 150 Billion in worthless home equity loans and a Trillion dollars in off-balance sheet liabilities.
Do not abuse leverage. The Fed is going to spend limitless amounts of money to pound interest rates and Gold prices into appearing "normal" when in fact they are on the verge of exploding. The tremendous volatility will shake out leveraged players.
Long: GLD
Calculators and Tools
Blogs I read
- Capital Account with Lauren Lyster
- Max Keiser
- Mortgage Lender Implode-O-Meter
- Naked Capitalism
- Zero Hedge
- The Big Picture
- Euro Pacific Capital
- Safe Haven
- MISH'S Global Economic Trend Analysis
- Nathan's Economic Edge
- Dr Housing Bubble
- Karl Denninger's Market Ticker
- Calculated Risk Blog
- Jesse's Café Américain
Education Links
Smartypants Hall of Fame
- Economist, Steve Keen
- Hedge Fund Manager, Hugh Henry
- Radio/TV Host, Max Keiser
- Stock Analyst, Ivy Zelman
- Fmr Options Trader/Philospher, Nassim Taleb
- Fmr Regulator, William K. Black
- Derivatives expert, Janet Tavakoli
- Fmr Hedge Fund Manager, Andrew Lahde
- Fmr Hedge Fund Manager, Dr. Michael Burry
- Investment Advisor, Marc Faber
- Short Seller, Jim Chanos
- Hedge Fund Manager, John Paulson
- Stockbroker/Economist, Peter Schiff
- Columnist: Damon Vrabel
- Investor, Jim Rogers
- Bank Analyst, Meredth Whitney
- Fmr Regulator, Brooksley Born
- Economist, Nouriel Roubini (NYU)
- Artist/Filmmaker, Paul Grignon
- Congressman, Ron Paul (R - TX)
- European Parliamentarian, Daniel Hannan
- Hedge Fund Manager, David Einhorn
- Hedge Fund Manager, Bill Ackman
Comic Relief (videos)
- NOMINT: Greek Crisis Explained
- Brits: Congratulations! You’ve Only Lost $1 Million Dollars!
- Daily Show: The banks can't lose
- Daily Show: Fat Fingers
- Ratigan: Financial Fraud For Dummies
- NPR: Bet Against The American Dream
- Daily Show: In Dodd We Trust
- The Onion: Money is an illusion
- "Fear the Boom and Bust" a Hayek vs Keynes Rap
- Mint.com: R U Unemployed
- Yes, Minister: A Conflict of Interest
- Colbert: Honor Bound
- Colbert: The Fed
- SNL: US-China Relations
- Daily Show: Dow 10,000
- Daily Show: High Frequency Trading Cash Cow
- Daily Show: Home Crisis Investigation
- Brits: The elephant in the room
- Daily Show: The bailouts are working!
- SNL: Bailout Skit (uncensored)
- South Park: The importance of saving money
- South Park: How the Treasury Dept works
- Subprime Mortgage Crisis Blues
- Brits: Subprime crisis (part 1)
- Brits: Subprime crisis (part 2)
- SNL: Conspiracy Rock
- For Kids: The Mississippi Bubble
Ways to make money when stocks go down
Option Trading Tools
Blog Archive
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2008
(399)
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September
(50)
- videos: Peter Schiff and Ron Paul
- NYT: Citigroup and Wells Fargo Said to Be Bidding ...
- No change
- China may pull the plug
- How the short ban is affecting short ETFs
- Jim Cramer says sell
- SEC changes short selling rules
- Behind the scenes
- Paul Krugman gives Bill Maher religion
- It could get much worse
- Why the market will crash next week
- Changing the rules
- SRS
- Mother of all bailouts
- New Disclaimer
- Paulson Goes All In
- Short sale ban - answers
- SEC bans short selling of financials
- Cali home prices down 35% for the year
- Fed losing control
- The Fed: sugardaddy of last resort
- Comrade Bernanke Does it Again
- Gold posts biggest one day gain - ever!
- Congress has no idea what to do
- Feds shopping WaMu
- Welcome to Desperation
- Good Summary
- FED: the writing is on the wall
- Deus ex machina
- Grey Monday
- Asia trading
- WSJ: Bank of America may buy Merrill Lynch
- Heads they win, tails we lose
- CNBC: negotions on Lehman Brothers are breaking down
- $4 trillion
- Subprime Mortgage Crisis Blues
- Last Gasp of a Doomed Currency
- Moral Hazard
- Paulson's Quick Draw
- Out of Lehman
- Treasuries down
- CDS supernova coming
- What next?
- Keep an eye on Lehman
- Fannie and Freddie bailout official
- NYT: Why fannie and freddie are getting bailed out...
- Fannie and Freddie Bailout
- Down the Rabbit Hole
- Market Update
- Say goodby to TiPS
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September
(50)
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