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frankkarl
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2012 Expectations for the Market

- Andy Hoffman -

Andy,
Something more can be said about the potential bank collapses. Many on the extreme portray an international misery that will be used to frighten all but the informed. To the contrary I believe this would be an occasion of great celebration. It doesn't really matter upon which Friday we call the banking holiday. What matters is the nature of the message on the following Monday. I expect the typical smug belligerence when the public is advised that the collapse of the Euro and undermining of the US dollar by a Chinese devaluation (act of war?) has necessitated ........................., or some such bullshit intended to further socialize losses.
I hope people would be more accurately informed that this occasion is simply a byproduct of a greedy and manipulative banking industry that has brought ruin upon itself. People should be prepared to demand that the bank assets be fairly valued and the resulting losses credited to the account of the shareholders and bondholders. They can take the derivatives contracts home for wall paper.
Imagine a 10 story bank building and suddenly the lights go out on the seventh through tenth floor. Now realize floors one through six represent the human beings that 95% of customers deal with on a daily basis. We need and want those bankers to come to work on Monday morning and they will operate as efficiently as on Friday. The seventh through tenth floors will simply be remembered for their curious relationship to the banks old balance sheets.
By no means should a banking failure be an international catastrophe, but rather, a financial rebirth. Life with real arithmetic.

Commented 4497 days ago

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Beginning of the headline :The methodology is the thing On December 29th, 2010 Comex silver closed at $31.03, and the CME's spec margin was $10,462. Exactly one year later we now have silver at $26.70, with spec margin at $24,975. While silver dropped 14% y/y the CME actually raised margin by 246% Or put another way leverage has been reduced by 64%, from 14.83-1 to 5.34-1. This alone is the principal reason why paper silver has been so so easily pushed around lately. One should be looking at the methodology and tactics of the cartel, rather than the... Read More

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