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WMARKW

WMARKW
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Latest  |  Highest rated
  • Speaking on the issue of increased financial regulation, Goldman's Jim O'Neill asks rhetorically: “Is it really that entirely desirable to have financial stability at the expense of everything else? I sort of think you want your investment bank to be a little unstable.” - pure Goldman gold.  [View news story]
    GS is BS. The suggestion is that without the "risk" there would be opportunities that would be foregone. That's just dumb. The answer to the issue is that there is always someone (not necessarily a systemically important financial institutions - yet to be defined) who will be willing to accept the risk if the price is right. Thus you have folks who are happy to invest in "junk" bonds, and people who are happy to make car loans to defaulters. There will always be someone there to do the deal if the price is right.

    Secondly....at the "expense of everything else" means what? Perhaps I should read the article. I would if I could find it.
    May 26 12:02 AM | 2 Likes Like |Link to Comment
  • With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces.  [View news story]
    Bernie and TVP. There has to be a distinction between the traditional banking (recent additions) functions to these banks and their investment banking functions (their legacy functions).

    Yes large corporations need large financial institutions to provide banking functions to global enterprises, but small individuals do not need JPM to establish branch banking and credit card functions. And real-estate owners do not need JPM or Goldman or MS in the residential real estate market.
    May 25 01:44 PM | 2 Likes Like |Link to Comment
  • With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces.  [View news story]
    Bank failures by year"
    2012 - 23
    2011 - 89
    2010 - 157
    2009 - 140

    1994 - 15
    1993 - 50
    1992 - 181
    1991 - 271
    1990 - 382
    1989 - 534
    1988 - 470
    1987 - 262
    1986 - 204
    1985 - 180
    1984 - 106

    I don't think 2009-2011 were all that bad. Aren't there something like 8000 banks in the US?
    May 25 01:38 PM | 1 Like Like |Link to Comment
  • With the 0.88% yield on its 10-year paper apparently not doing the trick, Japan signs up super-popular all-girl band AKB48 to help hawk JGBs to the citizenry. The group will headline a summer campaign composed of a number of other Japanese celebrities.  [View news story]
    How can you grow an economy when all the citizens are saving and investing in JGB's. Stop this. Do not sell JGB's to Japanese citizens. This is just a stealth tax sucking all the consumable funds out of it citizens to fund government spending. It's insane.
    May 25 01:23 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Japan needs to stop selling debt to Japanese citizens. Those citizens will take their last Yen to support their government. Japan will never be able to create any inflation if they continue their current approach.
    May 25 09:14 AM | 1 Like Like |Link to Comment
  • At the top of Goldman Sachs' VIP List of 50 stocks most important to hedge funds is Apple (AAPL), followed by GOOG, ESRX, MSFT, QCOM, C, GM, PCLN, JPM and LMCA. Leading the list of the firm's top 50 short positions is JNJ, XOM, INTC, IBM, AMZN, T, CVX, VZ, DUK and DIS.  [View news story]
    And how many of their short positions are naked like JPM !
    May 25 09:11 AM | 1 Like Like |Link to Comment
  • With a record of poor shareholder returns, why do the TBTF banks (JPM, C, BAC) even exist, writes Sheila Bair. Capital markets certainly wouldn't finance such "unstable behemoths" if it weren't for their de facto government backstop. Jamie Dimon can provide a better return to shareholders by recognizing his bank is worth more in smaller pieces.  [View news story]
    Wow....brilliant. Seems like someone finally has the guts to call them out. Way to go Sheila !
    May 25 09:10 AM | 11 Likes Like |Link to Comment
  • Gold: A Seismic Move Is Coming [View article]
    That dominance was supported by economic and USD superiority. The Russians went broke and gave up.
    May 25 08:52 AM | 1 Like Like |Link to Comment
  • Why I Am Short Gold: 5 Reasons [View article]
    Writing "Anti-Gold" articles will get you 100 comments.
    May 24 11:39 PM | 0 Likes Like |Link to Comment
  • Why I Am Short Gold: 5 Reasons [View article]
    You don't have to shave....all you have to do is mint various sizes. They do that now with gold - 1 oz, 1/2 oz, 1/4 oz and 1/10 oz. They do not make 1/2 "dollars" or 1/4 "dollars" or 1/10 "dollars" in silver.

    Your statement of my belief is actually not true. I do touch it and I do buy and sell it. I give physical away as gifts. Sometimes, I consider, but have not pulled the trigger on trading some of this asset class for other asset classes. Sometimes I just sell some to buy other things. That's exactly what I would do if it were legal tender at 'market' value.
    May 24 11:36 PM | 0 Likes Like |Link to Comment
  • Why I Am Short Gold: 5 Reasons [View article]
    People don't circulate Eagles because it is illegal....well, not technically, you can use them as legal tender at a $1 and $50 respectively for silver and gold, but who would do that? Presumably, if the legal tender "face" value were consistent with the market value of 1 ounce of gold, then anyone would be able to use them in everyday commerce. As it is, if I bought one for $500 and sold it for $1500, I would theoretically have to pay a tax on the gain, whereas if it were tradable at "market value" of 1 ounce, then there would be no reason to have a gain. You buy an ounce, you sell an ounce and that's all there is to it.
    May 24 11:32 PM | 0 Likes Like |Link to Comment
  • Why I Am Short Gold: 5 Reasons [View article]
    Sorry....my point was there is now no need for a fixed exchange rate. It can be a floating exchange rate determined by market forces, just like currency exchange rates are. With computer/internet technology, anyone in any business could tell you what the exchange rate was between FRN's, Gold, Silver, EU, Yuan, etc.
    May 24 11:24 PM | 0 Likes Like |Link to Comment
  • Initial Jobless Claims: 370K vs. 371K consensus (prior week revised to 372K from 370K). Continuing claims -29K to 3.26M.  [View news story]
    Wow....not a single comment on these results all day long. Ho hum.....I guess we're just plodding along for now and things are not getting much better. Barely creating enough new jobs to handle growth in population at the civilian workforce level. But wait.....I'm sure we'll see unemployment numbers fall as the workforce keep shrinking.
    May 24 11:11 PM | 0 Likes Like |Link to Comment
  • Where Are Gold Prices Headed: Flat, Down Or Up? [View article]
    Well let's just say this. If you have to power to create a bubble and then explode it, or if you have the power to create inflation or hyperinflation, then you have the power to create cycles and if you know the intent in advance, they you have the power to profit from that knowledge.
    May 24 03:55 PM | 3 Likes Like |Link to Comment
  • Where Are Gold Prices Headed: Flat, Down Or Up? [View article]
    Article 1 Sec 8 Para 5 gave the power to Congress to "coin money and regulate the value thereof". The Coinage Act of 1792 identified the nature, weights, amounts etc of gold and silver coins. It originally identified $10 of gold as the equivalent of 16 grams of pure gold.
    May 24 03:53 PM | 2 Likes Like |Link to Comment
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