Voltron asks: If Wells Fargo is doing so great ($3 billion profit), why did they need $25 Billion from the government? Are they going to pay it back now? How much government money did they get via AIG?
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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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2009
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April
(89)
- 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...
- Foreclosure tsunami in April?
- Bailout Bonds. . . For the little people
- China wins economic war-game
- The market is up due to Wells-Fargo (lying as usual)
- Deflation
- Bailouts probably a waste of time and money
- Fed only has one bullet left
- IMF gold sales
- Fed committed to buying treasurys
- Treasury knows and is scared
- Treasury gives banks cash, CEOs a pistol with one ...
- Why is the FDIC involved in the PPIF?
- IMF admits credit losses could reach $4 Trillion
- Ratings agencies rewarded for incompetence
- Now vs then
- Is the Fed losing it's nerve?
- 7 deadly sins of banking
- Soros says U.S. banks "basically insolvent"
- IMF dumping Gold
- Are CEO bonuses "Hush Money"?
- PPIF is a page out of ENRON's playbook
- Must Read!! Excerpts from William Black interview
- Some Charts
- Bondholders getting bailed out
- Here it comes
- 5 more ways to scam the bailout
- Absolute must see/read!
- Homeowner-Aid Plan Caught in Second-Loan Spat - WS...
- Inflation vs Deflation
- Beware Leveraged ETFs
- 5 Ways To Scam The New Bailout
- Bailed-out banks eye toxic asset buys
- What Was Going on Inside the Paulson Treasury?
- Market Recap
- AIG has been a ponzi scheme since 2001
- Barney Style
- Nassim "Black Swan" Taleb Disses Geithner Plan: It...
- Visual Guide to Inflation
- AIG Bailout Exceeds Value of Fort Knox Gold
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April
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