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Voltron's economics blog. Started in Iraq in 2007 as the "Gamblers Anonymous Support Group" email list.

Saturday, April 10, 2010

More Gold Hanky Panky

Voltron says: A trio of articles from Zero Hedge about gold ETFs, worthless paper and empty vaults.

Has The iShares Gold ETF (IAU) Been Covertly Depleted Of 90% Of Its Physical Holdings, With Banks Like JPM And Goldman Pocketing The Actual Gold?

The Latest Gold Fraud Bombshell: Canada's Only Bullion Bank Gold Vault Is Practically Empty

Got Gold? Why Owning GLD Can Be Hazardous To Your Wealth
Posted by Gerard at 4/10/2010

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Note: Does not include Medicare, Medicaid or Social Security.

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

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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 CafĂ© AmĂ©ricain

Education Links

  • Renaissance 2.0
  • Money as Debt (video - first 13secs blank)
  • Money as Debt II (video)
  • Money as Debt III (video)
  • Crash Course (text/video)

Peter Schiff's book

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

  • Short Shares
  • Buy Put Options
  • Buy Inverse ETFs
  • Voltron's view on these strategies

Option Trading Tools

  • Graph Option Prices (symbol format is "ABC=XY")
  • Graph option vol vs. stock price
  • Max Pain

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