thestatedtruth.com | May 15, 2010
 Jim Wilson/The New York Times By JUSTIN GILLIS Published: May 15, 2010 Scientists are finding enormous oil plumes in the deep waters of the Gulf of Mexico, including one as large as 10 miles long, 3 miles wide and 300 feet thick. The discovery is fresh evidence that the leak from the broken undersea […]
thestatedtruth.com | May 14, 2010
The Road to Default Follow the capital flows, people. As money flees from the European bond market, it runs to the safety of US debt, stocks, and gold. The race to the fiat bottom, however, ensures that it’s only a matter of time before the US devalues again and capital begins to flee the safe […]
thestatedtruth.com | May 10, 2010
Gordon_Gekko   05/10/2010   Satellite photo of Iceland’s Eyjafjallajökull volcano May 7th, 2010 (via NASA Earth Observatory) I know right now everyone is focused on the drama playing out in Europe over Greece et. al., but there is another little sideshow being produced over there by Mother Nature which has the potential to take centerestage and […]
thestatedtruth.com | May 10, 2010
By Larry Doyle|May 10, 2010, 12:57 PM|Author’s Website  Is the American taxpayer ultimately bailing out the European Union? Far fetched? Don’t be so sure. While the focus of the European bailout is on the European Central Bank, the European Union, and the IMF, little attention is being given to swap lines which were reopened […]
thestatedtruth.com | May 10, 2010
Tyler Durden   05/10/2010  Morgan Stanley’s Stephen Roach spoke with Bloomberg’s Tom Keene earlier, pointing out the most troubling statistic about recent market activity, which has to do with both the frequency and amplitude of catastrophes: “The crises are coming with greater frequency. Over the last 25 years we have had an average of one […]
thestatedtruth.com | May 10, 2010
May 10, 2010 In “Oil Slickonomicsâ€, part 1, http://www.cumber.com/commentary.aspx?file=050210.asp , we set forth three scenarios for the BP disaster. They are “bad,†“worse,†and “ugliest.â€Â Events are now moving from bad to worse.   BP’s attempt to install a large funnel-type device is running into problems. They have shifted the device several hundred yards away […]
thestatedtruth.com | May 8, 2010
thestatedtruth.com | May 8, 2010
thestatedtruth.com | May 8, 2010
Though not every homeowner who’s underwater on a mortgage need worry, many are finding that a foreclosure or other form of housing loss can lead to a big tax obligation. As the U.S. economy continues struggling with the fallout of the debt-induced housing crisis, millions of homeowners like Ms. McDaniel are discovering that their decision […]
thestatedtruth.com | May 7, 2010
Risks associated with the fiscal deficits. And by the way, we should note that 25 of 27 European countries are running deficits in excess of 3% of GDP. Ireland has a deficit of 14.3%. Portugal is at almost 10%. Greece is almost 14%. Here is a table from Variant Perception in London, from data from […]
thestatedtruth.com | May 7, 2010
The solution is the problem. “Main Street is in the hands of a Roulette Wheel.”  The name of the “Roulette Wheel” is Credit Default Swaps. It does not matter what the G-7 or the G-20 does. It does not matter what the IMF, ECB and Fed under a beard do. Mrs. Merkel’s foolish political […]
thestatedtruth.com | May 7, 2010
The Globe and Mail in Toronto put together a good visual (below) on how financially exposed the larger and stronger economies of Western Europe are to the region’s teetering nations. Think of all the turmoil caused by Greece – the external debt load of Spain and Ireland together is more than eight times greater.
thestatedtruth.com | May 6, 2010
If  True……….. According to ForexLive, a big error at a major trading firm caused today’s -1,000 point market crash, before staging a huge come back. ForexLive: “Major US bank had an order to sell $15 mln of S&P e-mini contracts.   Accidentally sold $15 bln…†Update: CNBC is now reporting that a trader entered a “b†for […]
thestatedtruth.com | May 5, 2010
Research Affiliates chairman, along with BlackRock’s Dennis Stattman, paint a gloomy picture of U.S. economy; prepare clients ‘to weather the storm’.  The U.S. economy could well be headed for another downturn and advisers should be helping clients find opportunities overseas and in alternative-asset classes, two well-known investment managers said Tuesday. Our basic problem as a […]
thestatedtruth.com | May 3, 2010
 By Brian K. Sullivan May 4 (Bloomberg) — The 2010 Atlantic hurricane season may rival some of the worst in history as meteorological conditions mirror 2005, the record-breaking year that spawned New Orleans- wrecking Katrina, forecasters say. The El Nino warming in the Pacific is fading and rain is keeping dust down in Africa, […]
thestatedtruth.com | May 2, 2010
thestatedtruth.com | May 2, 2010
The information on this week’s bank closings is staggering. The FDIC announced seven closings as of April 30, 2010, at 9:00 pm EST. The seven banks’ combined assets amount to $25.83 billion. They had combined deposits of $19.61 billion. The FDIC is projecting losses of $7.33 billion in connection with the seven closings. That is […]
thestatedtruth.com | May 2, 2010
From John Mauldin’s Thoughts from the Frontline Weekly Newsletter Normally, you think of a Collateralized Debt Obligation (CDO) as a pool of mortgages. This pool is broken into anywhere from 6 to 15 tranches. The highest-rated tranches get their money back first, and the rating agencies made them AAA. While the lowest level would be […]
thestatedtruth.com | May 2, 2010
Oil Slickonomics May 2, 2010 “At its current leak rate of 5,000 barrels of oil per day, the spill could surpass the size of the 1969 Santa Barbara spill by next week. If the leak cannot be contained, it could exceed the size of the 1989 Exxon Valdez oil spill off Alaska by mid June.â€Â   Paul […]
thestatedtruth.com | April 30, 2010
PRIMA FACIA – WHERE IS UNCLE SAM? I have written extensively about the unregulated, non-exchange traded, offshore, off balance sheet (OTC) $605 Trillion derivatives market and specifically about the $437 Trillion Interest rate swap market. In Sultans of Swap: the Getaway I laid out some of the court actions taking place throughout Europe and the […]
thestatedtruth.com | April 30, 2010
http://home.comcast.net/~lcmgroupe/2010/Article-Extend_Pretend-Uncle_Sam_You_Sly_Devil.htm
thestatedtruth.com | April 29, 2010
The Oil slick disaster, besides being a detriment to intended drilling projects, remains a mystery with respect to ‘cause’. Of course the dispatch of Navy and other Defense Department resources will be seen in the proper light of being helpful; while we ponder whether they’re investigating just in case something else happened; given the rig […]
thestatedtruth.com | April 27, 2010
Banks Bet Against U.S. Cities, States First Posted: 04-27-10 Amidst growing pessimism about the financial condition of U.S. cities and states, investors are increasingly buying financial instruments that essentially allow them to short sell or bet against cities and states, says a Wall Street Journal report. Offered by banks like JP Morgan, Bank of America, […]
thestatedtruth.com | April 27, 2010
  http://www.leap2020.eu/GEAB-N-43-is-available-Global-systemic-crisis-USA-UK-The-explosive-duo-of-the-second-half-of-2010-Summer-2010-The-Bank_a4531.html
thestatedtruth.com | April 27, 2010
Pension Pains: States Cut Benefits to Skirt Massive Funding Shortfall Illinois Teachers Complain; California Latest State to Push for Pension Reform  By DALIA FAHMY Apr. 26, 2010 Dan Montgomery doesn’t have many kind words for his elected officials. The high school English teacher from Skokie says Illinois politicians spent years neglecting their obligations to […]
thestatedtruth.com | April 26, 2010
BY KATIE MARTIN AND MICHAEL WILSON LONDON—Hopes that Greece’s formal request for international financial aid might help stabilize the financial markets are proving short-lived Monday, with the cost of insuring Greek debt against default soared to a new record. The euro also took a dive, after briefly rebounding from a 12-month low of $1.32 against […]
thestatedtruth.com | April 26, 2010
 April 26, 2010, 10:46 AM EDT By Jennifer Ryan April 26 (Bloomberg) — The dollar, euro and pound are all unappealing investments, either because of policies of “benign neglect†or concerns on the euro region’s stability, said Stephen King, chief economist at HSBC Holdings Plc. “It is a competition between ugly sisters, they are none […]
thestatedtruth.com | April 25, 2010
By Peter Schiff April 25 The following is an opinion piece written by Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0: How to Profit from the Economic Collapse. Mr. Schiff, a Republican, is also running for the U.S. Senate seat currently held by Banking Committee chair Christopher Dodd. In a […]
thestatedtruth.com | April 23, 2010
thestatedtruth.com | April 22, 2010
April 22, 2010Â By Scott Stewart As STRATFOR has noted for several years now, media coverage of the threat posed by dirty bombs runs in a perceptible cycle with distinct spikes and lulls. We are currently in one of the periods of heightened awareness and media coverage. A number of factors appear to have sparked […]
thestatedtruth.com | April 20, 2010
Jim Chanos, hedge fund manager and president of Kynikos Associates, sat down with FOX Business Network’s Charlie Gasparino and Brian Sullivan to talk Lehman Brothers (LEHMQ) investigation, Goldman Sachs (GS) vs SEC, predicting financial scandals and China.  Apr 20, 2010 Courtesy of Fox Business Network On whether Lehman was a criminal fraud: “I think […]
thestatedtruth.com | April 18, 2010
DRAMATIC COMMERCIAL BANK LENDING SPIKE There appears to be mysteries everywhere we look, just like the days of Enron, the US sub-prime housing bubble and with Greek debt accounting. Â Below is the just released Federal Reserve report from FRED (Federal Reserve Economic Data) showing the weekly loans and leases of US Commercial Banks. The […]
thestatedtruth.com | April 18, 2010
U.S. TREASURY AUCTION – Historic Direct Versus Indirect Bids With a historic and massive $1.6 Trillion of new US government debt to be financed in 2010, as tax payers on the hook for this debt, we need to listen to what is concerning those that participate in the critically important US Treasury Auction. Additionally, we […]
thestatedtruth.com | April 18, 2010
PLUMMETING US MONEY SUPPLY DESPITE QE (Quantitative Easing) Â The chart above from Shadow Government Statistics is more than a little alarming. The M3 money supply reporting is shown above, which we all used to watch meticulously and was suddenly and suspiciously dropped without explanation in March 2007. John Williams of Shadow Government Statistics still […]
thestatedtruth.com | April 16, 2010
Goldman Sachs Sued by SEC for Fraud Tied to CDOs By Joshua Gallu and Christine Harper April 16 (Bloomberg) — Goldman Sachs Group Inc. was sued by U.S. regulators for fraud tied to collateralized debt obligations that contributed to the worst financial crisis since the Great Depression. The firm’s shares tumbled as much as 16 […]
thestatedtruth.com | April 15, 2010
04/15/2010 George Soros, speaking at a meeting organized by The Economist, warns all those who are throwing their money into the equity pit, that “the financial world is on the wrong track and that we may be hurtling towards an even bigger boom and bust than in the credit crisis.” Advice from Soros or from […]
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