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didnt C say they had 50 bill of level 3 paper??? so the rumored and actual write downs account for about half of that....

the street peg has already fallen with black market prices 15% below the bank rate.... Kuwait already floats their currency

wall street is in denial about the move in gold since I believe it counters what they had told their clients about inflation......... the current bubble is treasury paper and if (when) that pops, it aint gonna be pretty... this move smells like 1980 only this time the middle up wave may be...

level 3 paper has no bid so why not guess... there have been a few small sales of the stuff that made the news but who knows Citi has to panhandle around the globe looking for money to stay afloat.... something that the press cant seem to get its brain around....

when the next cut comes and the long dated paper tanks, then we're in deep shyt

measured as to a multiple of the last uncorrected upmove.... and I'm no fan of these measured moves but when it's at a nominal all time high, there are all kinds of stat guys that throw around numbers... these giant bull moves dont seem to let you in at a resonable price... it's good to...

929 is the next measured move and then there's nothing between that and a grand....

if the 40 trillion dollar CDS market tanks, i hope we hold 10k

If your economy isn't screwed up, Bernanke will fix that....

the silveraxis guy is fairly wide minded but after reading his stuff for about 2 years, he is scared of his own shadow............. every one his commentaries is soaked with this theory or that theory.... I believe silver is headed to 25 but the market vol. can be enough to whipsaw scared...

Merrill is lucky that all of their customers that bot CCC paper that was sold as AAA rated didn't take a deuce in the lobby....

http://www.shadowstats.com/

the most expensive pile of paper around is the 10 - 30 yr US Tres. imho

if mbia dies, the bondholders get it anyway...

14% coupon reminds me of the good ole junk bond days of the '80s is MBIA even going to earn the cost of capital???

MBI is trying to float some bonds but they have a 14% coupon.... what's interesting is the common stock is up 3 bucks.... who said the market had to make sense

it insures bonds

I watch Friday closes since it kinda says who's willing to hold it over the weekend.... someday gold will trade 24/7/365 on a decent exchange......

no, if you see your nuts blow out of your nose, you're barely staying even.... Regards, Ben

in fact if you're sitting in some money market fund at say 4.5%, and money supply rate of change is 15% y/y, you're getting your nuts kicked thru your throat by 11.5% compounded, you lose 50% of your purchasing power in 6 years an opinion of course, and I could be wrong.....