Translate

Search This Blog

Search Tool




Asian Markets at Close Report

European Markets at Close Report

Apr 22, 2009

Forbes.com Alerts: "Another Chinese Fib: 6.1% Growth"

Another Chinese Fib: 6.1% Growth. On the economy, Beijing fakes the facts.
To read full story , click HERE

FT.com Global Perspective

Ft.com Glogal Perspective Brings us the following information:
-Pandit pledges to stay on at Citi
- Tesco annual profits top £3bn
-Bank cutbacks aid hedge funds.... and much more.

To read full coverage of these news, click HERE

From The Desk Of Nick Nicolaas:"(FDNN) Alert 58

. I am very sorry for the delay of the information our friend Nick Nicolaas sent us, but I had problems with my system.
FGC BOLSA,
Fernando Guzmán Cavero


April 21, 2009
Post Mortem Examination #1
Martin Armstrong's Turnaround Date of April 20, 2009(Please note: Armstrong's Economic Model acts like an indicator, not a market timing device)
The worst of the Banking Crisis is NOT overandYou've got to be in Hard-Assets - - - to win It!!
Yesterday's numbers at the close: DJIA7,841.73-289.60-3.56%Nasdaq1,608.21-64.86-3.88%S&P 500832.39-37.21-4.28%Global Dow1,442.12+0.46+0.03%Dow Utilities328.39-4.48-1.35%NYSE5,220.12-260.48-4.75%AMEX1,355.87-38.79-2.78%Russell 2000452.49-26.88-5.61%Semcond240.19-14.62-5.74%Gold future887.50+19.60+2.26%30-Year Bond3.69%-0.10-2.59%10-Year Bond2.84%-0.09-2.97%

Dear Friends:
These are pretty big negative numbers across the board on a day where most of the technical pundits called for the Dow and S&P to be up and to expect selling in Gold and Silver but - - - exactly the opposite happened. Something is not right within the Obama kingdom - - - but what?? I got a feeling that the following is probably correct and that is why we are seeing an early exit by those in the know. In any event us underlings may find out if the following is correct by May 4th!
This From: Mark Kellstrom of Strategic Energy Research yesterday(http://www.strategicenergyresearch.com/)
The Turner Radio Network has obtained "stress test" results for the top 19 Banks in the USA. The stress tests were conducted to determine how well, if at all, the top 19 banks in the USA could withstand further or future economic hardship. When the tests were completed, regulators within the Treasury and inside the Federal Reserve began bickering with each other as to whether or not the test results should be made public. That bickering continues to this very day as evidenced by this "main stream media" report. The Turner Radio Network has obtained the stress test results. They are very bad. The most salient points from the stress tests appear below. 1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent. 2) Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans. 3) If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding. 4) Of the top 19 banks in the nation, the top five (5) largest banks are under capitalized so dangerously, there is serious doubt about their ability to continue as ongoing businesses. 5) Five large U.S. banks have credit exposure related to their derivatives trading that exceeds their capital, with four in particular - JPMorgan Chase, Goldman Sachs, HSBC Bank America and Citibank - taking especially large risks. 6) Bank of America`s total credit exposure to derivatives was 179 percent of its risk-based capital; Citibank`s was 278 percent; JPMorgan Chase`s, 382 percent; and HSBC America`s, 550 percent. It gets even worse: Goldman Sachs began reporting as a commercial bank, revealing an alarming total credit exposure of 1,056 percent, or more than ten times its capital! 7) Not only are there serious questions about whether or not JPMorgan Chase, Goldman Sachs,Citibank, Wells Fargo, Sun Trust Bank, HSBC Bank USA, can continue in business, more than 1,800 regional and smaller institutions are at risk of failure despite government bailouts! The debt crisis is much greater than the government has reported. The FDIC`s "Problem List" of troubled banks includes 252 institutions with assets of $159 billion. 1,816 banks and thrifts are at risk of failure, with total assets of $4.67 trillion, compared to 1,568 institutions, with $2.32 trillion in total assets in prior quarter. Put bluntly, the entire US Banking System is in complete and total collapse. More details as they become available. . . . . . UPDATE 0147 HRS EDT Monday, April 20, 2009 -- For those who may be skeptical about the veracity of the stress test report above, be reminded that only last Sunday, April 12, this radio network obtained and published a Department of Homeland Security (DHS) Memo outlining their concerns that returning US military vets posed a domestic security threat as "right wing extremists." That memo, available here, is marked "FOR OFFICIAL USE ONLY" and contained strict warnings that it was not to be released to the public or to the media. We obtained it and published it days before other media outlets. That DHS report appeared on this blog at least two full days before the story was picked up by The Washington Times, and virtually every other US media outlet. Details of certain aspects of the stress test reported above have now been CONFIRMED through REUTERS News service when they disclosed the risk-capital percentages publicly on April 6, 2009 at this link. Further, todays Wall Street Journal (April 20, 2009) is confirming at this link that lending by the largest banks has DECREASED 23% since the government began the T.A.R.P. program, causing many in Congress to ask where the money has actually been going. Apparently, it has been going into propping-up the failing banks instead of out in loans to the public. Additional details and proofs are forthcoming . . . . . continue to check back on this developing story. From: http://turnerradionetwork.blogspot.com/
END
Also yesterday from: Mark Kellstrom - Strategic Energy Research “One involved market participant we speak with on the Debt side has commented that the Government could push the tests to the negative side to simultaneously support the success of the PPIP program by, in effect, forcing greater Bank participation and we forwarded one article this morning that claims the results of the Bank stress test were very negative [see above]. However, on the negative article, one client already points out that this news source can be unreliable at best and the source is a far right activist that some could deem a “crackpot”. From the looks of it, he may be right and we do not endorse the conclusions of the story but we note that these concerns may keep the market range bound for now until the true results of the Bank stress tests are revealed. In the next two weeks we will know. Further, we had an interesting conversation over the weekend with the Chief Executive of a Regional Bank about the TARP funds. This Bank took the TARP funds although not required on the Administration's encouragement and notes that the funds have proven expensive. This bank would like to return the funds but the process is involved and requires an application. In the meantime, this CEO remains concerned that the Government, from which Officials check in often, will push the Bank to make loans that the Bank otherwise might not pursue. May we live in interesting times.”
END Yes, it seems the other shoe is ready to hit the floor! To assist FDNN in making the case for Hard-Assets, here is today's missive, directly from the silver fields in northern Idaho, USA by my favourite, no-holds-barred, say-it-the-way-it-is and from-the-heart scribe David Bond:
Click here for David Bond's “A Loverly Day in the Neighbourhood”
I totally agree with David Bond that blue-chip silver companies are totally underpriced and should be accumulated or added to during the summer doldrums. FDNN ofcourse, being biased, will be buying more Oremex (TSXv-ORM) and Tumi Resources (TSXv-TM) during the summer months (see: http://www.mininginteractive.com/) because, quoting David Bond “even as it [the sun] rises on an Asia that understands that metals win all wars and that silver and gold keep score, and the companies who mine and look for silver have their sunshine day a-coming.” You've got to be in Hard-Assets - - - to win It!!
As always - - Stay Tuned!!
Regards,
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack"

Investor Guide Stock Of The Day:New York Times Reports 74.5 Million Loss"

Investors Guide Stock of the Day informs a loss of 74.5 million in the unespected report of the New York Times.

To read full coverage of this report click HERE