Friday, August 5, 2011

EPIC Weekend News #2 - White House says, "Go fuck yourself" to downgrade

From ZH:

For risk-based capital purposes, the risk weights for Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities will not change. The treatment of Treasury securities and other securities issued or guaranteed by the U.S. government, government agencies, and government-sponsored entities under other federal banking agency regulations, including, for example, the Federal Reserve Board’s Regulation W, will also be unaffected.

Click here to read the rest...


  1. SGS, There seems to be a lot of rumblings on the interwebs possibly related the BAC thing you mentioned in your vid. You're saying JPM wants to buy them, and someone else said Jim Rogers is shorting a "big U.S. bank." Is this all related?

  2. It's sickening how much that makes sense. Jpm eating bac.

    It would confirm additionally how bad some situations are. And are going to be.

  3. Anyone else see this?:

    The $1 Billion Armageddon Trade Placed Against The United States

    Someone dropped a bomb on the bond market Thursday – a $1 billion Armageddon trade betting the United States will lose its AAA credit rating.
    In one moment, an invisible trader placed a single trade that moved the most liquid debt market in the world.

    The massive trade wasn’t placed in bonds themselves; it was placed in the futures market.

    The trade was for block trades of 5,370 10-year Treasury futures executed at 124-03 and 3,100 Treasury bond futures executed at 125-01.

  4. If everyone in the Silver world knows that real Silver is separate from "paper" Silver why do we accept the price dictated by Comex?
    Is it because the real price is set by the LBMA in London and that amongst the members there are JP Morgan, HSBC, and Goldman Sachs? Who probably get their orders from the House of Rothschild.
    The coin dealers have to get their price from somewhere so I presume it's the LBMA that sets the official price and the coin dealers follow like sheep.
    So the Comex must be an elaborate game to justify the LBMA set price.

  5. Bernank is hated on everywhere, even in Korea. The article actually brought up the Onion's piece and it read that the dimwit is known as "Drunken Ben". Talking about yah yah yah, all the shit that we know, like that the printing presses will start up any time now.

    Anyways, I was organizing my junk, and thought it'd be nice to stack phyzz on this fuck boy's face.


  6. Every once in awhile, we have to (should) back off & enjoy some stuff in the world. Saw both of them in separate concerts. Great talents:

  7. Oh, just thought I'd fill the group in.

    Put in an order here in Seoul, Korea for AG. It's a funny system here where in the morning, 10~11 AM, a central group decides on the day's spot price. (This pissed me off as I was unable to put in my order at a great low which I was ready to hop on). From that point, independent dealers add points of their own, and they don't sell troy oz here, it starts with 3.5 grams.

    The central group is completely out of phyzz so I have to wait until EOD Monday to pick it up, hopefully...

    Koreans are on the silver train, folks. Out of Asia right now, I would have to say my fellow gooks are flush with fiat, and ready to spend/invest. Koreans are the biggest tourist group out of Asia at the moment too. They compare it to when the Japanese were in their bubble and spending like it was going out of style.

    On the other hand, I'm holding out for $35 spot. I think once $34 gets hit, we're off to the promise land...


    Looks like things starting unraveling exponentially from here. Zero Hedge does a great job, but their forecasts of 101% debt to GDP by 2021 will never be reached. The USA will disintegrate well before that.

    It is laughable how the FED responded to the S&P downgrade. This is like an Appraiser coming to your home that you believe is worth $500,000. The appraiser downgrades it to only $299,000. You tell him, the neighbors and anyone else that will listen, "FOCK YOU..your appraisal will not affect my home value. It's still worth $500,000.

    SGS..and everyone on this week will be very interesting to say the least. The only thing holding up the US DOLLAR and US TREASURIES is confidence. When that goes....OH BOY.

  9. I think that headline should really read:
    - Downgrade says, "Go fuck yourself" to White House -