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 23, 2010
The Daily Reckoning Presents   10 Things You Don’t Know (or were misinformed about) The Goldman Sachs Case I have been watching with a mixture of awe and dismay some of the really bad analysis, sloppy reporting, and just unsupported commentary about the GS case.I put together this list based on what I know […]
thestatedtruth.com | April 23, 2010
$10 Billion a Month Freed up Each Month from People not paying their Mortgage. $1.9 Billion of That is in California so People can continue Leasing their SUV Mercedes and Getting Tans. Thanks Bailouts! Posted: Thu, 22 Apr 2010 16:31:29 +0000 Living in California, the central hub of housing bubble mania, I have come to […]
thestatedtruth.com | April 23, 2010
Well, just curious, who would trust these guys……………..The Greek government pushed the button on an emergency financial bailout package Friday, formally acknowledging that it needs loans from its European neighbors and the International Monetary Fund to avoid a humiliating bankruptcy. The move came after weeks of insistence by Athens that it would not have to […]
thestatedtruth.com | April 22, 2010
By Jesse Westbrook April 22 (Bloomberg) — Moody’s Investors Service and Standard & Poor’s were influenced by Wall Street, had insufficient resources and used outdated models to grade mortgage securities that blew up when the U.S. housing market collapsed in 2007, according to Senate investigators. The Senate Permanent Subcommittee on Investigations concluded after an 18-month […]
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 21, 2010
The Future of U.S. Housing – Projections of Household Formation, Loan Modification Data, 500,000 Option ARMs Still Active, and a Decade of Stagnation. Tue, 21 Apr 2010 Take what you knew about projecting housing for the last fifty years and throw it out the window. The big problem with using models post-World War II is […]
thestatedtruth.com | April 21, 2010
WASHINGTON – President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days. Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview […]
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 19, 2010
Posted: Sun, 19 Apr 2010      www.thestatedtruth.com Last week the S&P 500 almost reached an impressive 80 percent gain from the red abyss seen in March of 2009. This puts this stock market rally up in the ranks of the strongest and fastest market turnarounds in history. Yet on Friday news of Goldman Sachs betting on […]
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 18, 2010
Welcome to the world of mortgage servicing loss mitigation… We now have the situation in this country where after delinquent borrowers are offered a loan modification option which takes the interest rate down to 2% for 5 years, extends the mortgage term to 40 years and forebears (soon will forgive) some of the principal balance […]
thestatedtruth.com | April 18, 2010
Who paid the bonuses for Wall Street and how it worked: 1. FASB capitulates and allows holders of OTC derivatives to value them at whatever they wish. 2. International investment firms begin strong mark up policies towards their crap inventory. 3. Profits from the mark up of crap OTC derivatives by the international investment firms […]
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
By Henny Sender in New York Published: April 16 2010 Whitehall Street International, Goldman Sachs’ international real estate investment fund, has lost almost all of its $1.8bn of equity following soured property investments in the US, Germany and Japan, according to the fund’s estimates. By the end of 2009, the fund was down to its […]
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 […]
thestatedtruth.com | April 14, 2010
thestatedtruth.com | April 13, 2010
APRIL 14, 2010 By ANTON TROIANOVSKI And LINGLING WEI Morgan Stanley has told investors in its $8.8 billion real-estate fund that it may lose nearly two-thirds of its money from bum property investments, according to fund documents reviewed by The Wall Street Journal. That would likely make it the biggest dollar loss—$5.4 billion—in the history […]
thestatedtruth.com | April 13, 2010
Last week the US put duties on Chinese steel pipe. This week China puts duties on US and Russian electrical steel. Getting into a trade war now is as crazy as the Smoot-Hawley Tariff Act was in the 1930s. Remember this……… China will do only what China wants. China will do only what China wants […]
thestatedtruth.com | April 13, 2010
April 13, 2010 | 0854 GMT  By Lauren Goodrich This past week saw another key success in Russia’s resurgence in former Soviet territory when pro-Russian forces took control of Kyrgyzstan. The Kyrgyz revolution was quick and intense. Within 24 hours, protests that had been simmering for months spun into countrywide riots as the president […]
thestatedtruth.com | April 12, 2010
As the charts below demonstrate, American society is currently stratified beyond repair. In this vein, the Tax Policy Center calculates, that for a return to economic normalcy, or deficits at a “mere” 2% of GDP, households earnings more than $200/250k would see their tax rates going up to a stunning 91%. If the economic underperformance […]
thestatedtruth.com | April 12, 2010
Sovereign Debt Disaster Will Favor Hard Assets by Justice Litle, Editor, Macro Trader April 12, 2010 In the event of a full-blown sovereign debt crisis, hard assets will become deeply desirable as one of the few “stores of value†left. …all too often the size of debts, especially government debts, is hidden from investors until […]
thestatedtruth.com | April 11, 2010
From The New York Times By NELSON D. SCHWARTZ Published: April 10, 2010 Even as prospects for the American economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates. That, economists say, is the inevitable outcome of the nation’s ballooning debt and the renewed prospect of inflation […]
thestatedtruth.com | April 9, 2010
Hey…….We didn’t make this up……Congress did! The House Republican Conference has compiled a list of all the new boards, bureaucracies, commissions, and programs created in H.R. 3962, Speaker Pelosi’s government health care plan: 1.    Retiree Reserve Trust Fund (Section 111(d), p. 61) 2.    Grant program for wellness programs to small employers (Section 112, p. 62) […]
thestatedtruth.com | April 7, 2010
thestatedtruth.com | April 7, 2010
From Fannie Mae on housing……………….. Housing Shaky At Best – CNBC’s Diana Olick had a somewhat scary report on foreclosures yesterday. She suggests a new wave is coming and it may be a whopper. She quotes the Fannie Mae chief as saying that home prices will dip again before hitting a new bottom later this […]
thestatedtruth.com | April 7, 2010
This presentation by Mr. Sinclair addresses what is currently going on in the world, including finances of course, which is his specialty. He is regarded as one of the premier authorities on gold and currencies in the world, and as such we should all value his opinion highly. 1. Get a copy, if possible, of the BBC movie, “The […]
thestatedtruth.com | April 6, 2010
thestatedtruth.com | April 6, 2010
Demographics? Let’s look at the “age pyramid” for the United States. The following 2 charts from the National Institutes of Health shows that the population is aging: This graphic (courtesy of Ed Stephan) shows the U.S. age pyramid from from 1950 through 2050: male female Population of the United State  www.zerohedge.com
thestatedtruth.com | April 6, 2010
A DISCRETE BULL MARKET Gold’s major trend has been up for nine consecutive years, yet the investing public has barely begun to invest. It’s not well known that this bull market even exists. This in itself is bullish because it means the 375% gain over the last almost decade will be pale compared to the […]
thestatedtruth.com | April 5, 2010
By Phil Willon and Maeve Reston April 5, 2010 City Controller Wendy Greuel declares an ‘Urgent Financial Crisis’ and says the only way to continue paying bills in the short term is to begin draining the city’s already limited emergency reserve. Â The city’s top financial official issued a grim assessment of the escalating budget […]
thestatedtruth.com | April 5, 2010
During the past fifteen months, the Fed purchased $1.25 Trillion in MBS, which represented 80% of the mortgage market. Prior to this program, mortgage rates were above 6%. Now that the Fed program has ended, it’s reasonable to assume that mortgage rates will rise back towards those levels. Just How Much Money is $1.25 Trillion? […]
thestatedtruth.com | April 4, 2010
AP – This undated image released by the U.S. Air Force shows the X-37B spacecraft. By JOHN ANTCZAK,     Associated Press Writer John Antczak, Associated Press  Sat April 3, 2010                   Posted April 4, 2010 LOS ANGELES – After a decade of development, the Air Force this month plans to launch a robotic spacecraft resembling a small space […]
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