Voltron says: If the results are good, why did the Treasury ominously want to delay them to avoid the banks earnings season?
http://www.nakedcapitalism.com/2009/04/quelle-surprise-bank-stress-tests.html
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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
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2009
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April
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- Fed prepping preemptive bailout of commercial real...
- Speculating on residential housing
- Stress test results
- Negative interest rates
- Janet Tavacoli (video)
- Fannie Mae Creates Housing Mirage
- MERS
- The government should join GASG
- Wells Fargo's margins are thin
- Mortgage Fraud
- Freddie Mac CFO Commits Suicide
- Pre-paid tuition
- Bank Profits Appear Out of Thin Air
- Wells Fargo: Bulls vs. Bears
- No way out
- Fed officials suggest worst of recession is over
- Bank Regulators Clash Over U.S. Stress-Tests Endgame
- Wells Fargo is full of it
- Shitibank is full of it
- Have banks hit bottom?
- Paul Krugman is at it again
- AIG bailout causing bankruptcies
- A third of foreclosed homes too damaged to sell
- A Quick Bankruptcy for G.M.? Not So Fast
- Willem Buiter ruminations on banking
- Stiglitz Says White House Ties to Wall Street Doom...
- Stress tests deepen headache for Obama
- Treasury issues emergency recall of all U.S. Dollars
- IMF Warns Downturn Will Be Prolonged and Recovery ...
- Crash Course
- Brace For Hyper-Inflation
- The limit of Keynesian economics
- Banks Ramp Up Foreclosures
- Wells Fargo's B.S.
- Dollar’s Fade Won’t Support Stock Rally
- The insanity of Keynesian economics
- 1/3 of foreclosures may be complicated by sloppy p...
- Wells Fargo may need $50 Billion
- If the Dollar is supplanted by IMF SDRs...
- China selling treasurys
- Money as debt II
- Treasury's confidence game
- Crisis over?
- Social Security deficit next year?
- Obama's promise of government openness and transpa...
- Wells Fargo fudging the numbers
- Nancy Palosi on the Daily Show
- Ugly graph!
- Riddle me this . . .
- Quelle Surprise! Bank Stress Tests Producing Expec...
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- Bailout Bonds. . . For the little people
- China wins economic war-game
- The market is up due to Wells-Fargo (lying as usual)
- Deflation
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