The daily link

[Doug Coulter]

No link, just a nice quote:

"Capital must protect itself in every possible way, both by combination and legislation. Debts must be collected, mortgages foreclosed as rapidly as possible.

When, through process of law, the common people lose their homes, they will become more docile and more easily governed through the strong arm of the government applied by a central power of wealth under leading financiers.

These truths are well known among our principal men, who are now engaged in forming an imperialism to govern the world. By dividing the voter through the political party system, we can get them to expend their energies in fighting for questions of no importance.

It is thus, by discrete action, we can secure for ourselves that which has been so well planned and so successfully accomplished."

- Montagu Norman, Governor of The Bank Of England, addressing the United States Bankers' Association, NYC 1924

Thinking about getting short treasuries. The tiny bit I am is going nicely green as it seems without our government buying its own debt, not many are stepping up to the bar...

[Doug Coulter]

Totally unrelated to trading, insofar as anything can be -- trading is pretty wide and knowledge is always power.
http://www.youtube.com/watch?v=ffZUHWG6 ... r_embedded


Seems you can't turn on the TV without seeing one of these nowadays. What's really funny is that it's usually followed immediately by an advert from a law firm trying to get you to join some class action suit against the company that makes "drug" -- seems those "blockbusters" that make billions of bucks for the companies that charge 100 times the generic price have their little flaws, not that you'd notice from the generic commercials that make all these new drugs seem like an instant trip to nirvana. No one here probably needs to see this send-up to know the score, but it's funny anyway.

[Doug Coulter]

A little indicator of how upset people really are. I don't think our politicians have a clue what's running just under the surface -- the sheep aren't good at expressing it till they get so damn mad that the riots in Greece will look like nothing. Till then, sit on the couch with beer and cheetos and watch reality TV, but the tipping point is coming.

http://www.zerohedge.com/article/guest- ... -interests

[Doug Coulter]

Scary. For those of you not in the US (or here but in denial)....

http://www.zerohedge.com/article/guest- ... ot-be-kept

Far as I know, these numbers are actually conservative. The excrement is going to hit the turbines at some point, only question is when.

[Doug Coulter]

Funny to the right sense of humor.

http://www.youtube.com/watch?v=T64Loi2F ... r_embedded



In which our financial authorities are compared unfavorably with a crash test dummy. Surely they have less guts -- the dummy has to experience the crash, and not in the Hamptons.

[Doug Coulter]

Oooooh, lookie here. It's amazing what satan can get done with computers these days. BAC has a new product that lets you know who is short and how hard it is for them to remain short, giving anyone who buys this info a way to screw hedge funds (for one) at will. Financial "innovation" at its finest again. No, really. Everyone big will have to buy this at any price to stay competitive.

http://www.zerohedge.com/article/presen ... terminator

As the terminator himself said, "I'll be BAC". Did I spell that right?

[Doug Coulter]

Warning -- originated at the Onion. But soooo close to truth, funny.

http://www.zerohedge.com/news/bernanke- ... us-economy

[Doug Coulter]

Todd speaks. I listen.
http://www.minyanville.com/businessmark ... 1/id/36132
Adam speaks as well -- and it's fairly grim.
http://club.ino.com/trading/2011/08/thi ... ing-chart/

Italy is blowing up bigtime -- limit down, markets closed, every day. See ZeroHedge today for more on that. They are claiming they "found a large amount of cash, we don't need that stinkin bond market for awhile". Incompetence, corruption, lies? Pick any two?

Gold and silver whipsawing. One reason for this in the middle of a flight to safety is people were using it as collateral for leveraged plays elsewhere. When those blow up, they might have to sell collateral to pay up....but as soon as there's a dip, people buy....back and forth till everyone's head spins. Some of this jockey action is also due to the old game of finding people's stop trips with small orders, then taking them out -- the robots vs the humans now, but the same game was played pre-computer. This is why we have that wild early hour every day. A lot of people put on trades before the market opens, go to work, then the robots go to work taking their candy...

[Doug Coulter]

A fun video on quants.
http://www.youtube.com/watch?v=ed2FWNWw ... r_embedded

[Doug Coulter]

This guy thinks we see a reflex rally, then a retest of the lows. It's always a little different, but this is consonant with my own thinking. We might see PM's take a dip during that rally...My own target for buying silver would be down in the 36 ish range. But I'm overweight it now, and any I bought in such a dip I'd be looking to sell again when things got green there, and just keep the core holdings longer term.

http://www.minyanville.com/businessmark ... 1/id/36239

Edited to add this really good analysis from ZeroHedge. This is a lot closer to the truth than most of their doom and gloom stuff (forget the comments of course). It's a pretty good "State of the universe" with about the correct amount of cynicism.
http://www.zerohedge.com/news/guest-pos ... ue-factory