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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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2010
(250)
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May
(41)
- Owners Stop Paying Mortgages, and Stop Fretting - ...
- Another Debt Crisis Is Brewing, This One in Studen...
- Max Keiser: Big Banks Allocate Losing Trades to Cl...
- David Einhorn: Easy Money, Hard Truths
- Hugh Henry: "I recommend you panic" . . .
- Greeks buy gold for financial security in turbulen...
- Congratulations! You’ve Only Lost $1 Million Dolla...
- Gold ETF, Wells Fargo See Short Increase
- FHA-HAMP Helped 171 Homeowners Nationwide in April
- Wells Fargo fraud worse than I thought
- Suddenly, Everyone's In the CRASH Camp, Not Just T...
- Meredith Whitney is getting fired up again
- Germany bans short selling of some stocks and bonds
- Nassim Taleb: Robustness and Fragility
- ‘There’s No Money Left,’ U.K. Minister Learns From...
- James Galbraith On Economic Theory As A Disgraced ...
- Reindexing The Unemployment Rate
- GM Wants More Subprime Lending
- Daily Show: The banks can't lose (video)
- Financial Crisis
- Newsweek: Strategic Defaults On The Rise
- Daily Show: Fat Fingers (video)
- Wells Fargo is rotten
- CBS 60 Minutes: "Strategic Default: Walking Away f...
- Is that all you got?
- Yanking on the Leash?
- Moody's under SEC investigation, tugs on leash
- Feds probing JPMorgan Chase's silver market trades...
- "The dirty little secret is: The world has no mone...
- Wells Fargo mortgage lending practices probed - Ma...
- High-End Homeowners Falling Into Foreclosure Trap
- Dude, Where's my gold?
- Holyfuckingshit
- Just sold out of DKA, DBN, DBU
- Way to go Freddie!
- Banks still playing with numbers
- Whitney: Banks Under-reserved for 'Double-dip' in ...
- Strategic Default Update
- Fed knew of housing bubble in 2004
- Fannie Mae tightens lending standards
- Huge FDIC Losses from 7 Bank Failures Friday
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▼
May
(41)
1 comment:
This article described my exact strategy. I have investment homes underwater by 100K--two. I have used the rental income to pay off credit cards and an equity line on my primary home; and, armed with SCRA protections I am trying to bully the banks to modify the loans. Otherwise, I will short sale. But, the extra cash has allowed to me to pay down debt and spend when I otherwise would not have been able to.
Just think--I came up with this idea without Obama and Gietner guiding me....how did I ever manage!?
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