What a crock of shit. Do you really believe the "Bullish" speech?
I mean, do the idiots who push the "Rebound" in 4th quarter 09 and 2010 really believe what they say?
There are two new shoes dropping as we speak. Commercial RE is unwinding so fast, 100X faster than home loan storm. The main stream press is not reporting it yet. Vacant Commerical RE is 20% and climbing fast. Every Major city is seeing the effect as I write.
The second shoe is dropping as well, Credit Cards. The numbers are devistating. As the Unemployment % drifts higher state by state,, 48 States reported increases in March's unemployment numbers.....the deliquent accounts are turning to Defaults. CITI is in-sovlent and is going to impload in a few months.
Dig deep and do some more research and you'll find that the "Accounting" rules have been changed and the "STRESS" TEST soon to be release is a crock of shit. It's padded hard and the numbers are false. They are much worse than what is on this "Stress' Test Report.
Banks still have CDO's marked at 80 to 90 cents on the dollar. The real values are in the 60 cents on the dollar. They have yet to wake up.
Now read the following release from the G20 Crew.
âA single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order. âWe have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity,â it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century."
The G20 crew understand the the Depression has started and that they can't run from it. It took about 2 years in the last Depressionary Cycle for the real shit storm to hit, after the Failuer of banks. This time it may be delayed a year or two more, just in time for the Dumping of the dollar....and the SDR to take it's place in Global Trade.
It will be interesting how many ETers will be left posting on this site in the next 6 to 12 months.
One should be in OIL, physical Wells pumping as well as "Stock" and Futures....if your not holding some sort of Metal, in physical Form, Gold, Silver even Platnum, If you do not own some land.... Improved or unimproved.... and you do not have a means to "Farm" in some capacity, either on your "Deck" with simple Foods or actual Acreage to really farm.... If your not invested in some Agriculture position, Wheat, rice, .....of that nature...
I would move out of the US dollar and get into some of the currency baskes that are super cheap right now. I would hold maybe 1% of ones networth in Dollars at all times after all overhead is paid.. So if your net worth is 100k, then hold 1000 at all times for "Fun Money To spend, but thats about it.. Money you need for Bills, fun stuff etc.
