Short Seller Draws Criticism in China Over Research
A number of prominent technology leaders in China, including current and former executives from Google and Microsoft, are mounting an offensive against short seller Citron Research as they protest a spate of what they call unfair and inaccurate attacks on U.S.-listed Chinese companies. http://on.wsj.com/PXlv0g
+ so many reasons not to buy banks (no industry is safe including and especially banks-can find out from articles and videos):
(+ MORE UNDER POSTS 're:a billionaire's bet [inflation mostly n bit on gold, economic crisis n so on- video'-video put up there]+'re: economists weigh a chinese hard landing'+'re:gold' + 'what the economic crisis really means-video' + 're:crisis could be over in 1-2 years' + 're:economy' + 're:warning after mining boom is over' + 're:china bubble burst:gold bubble read' + 're:whoever said mining boom is over is a clown' + 're:everyone is slamming australia' n others too- many articles and videos there showing whole integrated world is in a mess)
the 150 trillion $ debts in this is only part of the $500 trillion debts which includes social security n the rest....more abt that: CURRENT ECONOMIC SCENARIO: if take total debts and derivatives it's abt 1.5 to 2 quadrillion $.3 links and connected links that tell the story (visualization a bit of the 3rd link-under it which is fromhttp://demonocracy.info/infographics/usa/derivatives/bank_exposure.html and there's more information and links there): a)http://truththeory.com/2012/08/12/11-things-that-can-happen-when-you-allow-your-country-to-become-enslaved-by-bankers/ b)http://theeconomiccollapseblog.com/archives/a-warning-sign-for-the-world c)http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/20_Greyerz__$1.5_Quadrillion_Bubble_%26_Gold_Into_The_Stratosphere.html(over there, it's written "You now have a total worldwide debt of around $150 trillion. If you add to that contingent liabilities, unfunded liabilities, pension funds, etc., you are talking about $500 trillion. “If you add to that the outstanding derivatives, which are around one quadrillion dollars, and there are no reserves for them. These are issued without any real asset backing them. If you combine the two figures you are at a staggering one and a half quadrillion dollars. That’s against world GDP which is around $50 trillion.So you are talking here about a leverage of 30 times global GDP....") (the derivatives bubble ranges from 600 trillion to 1.5 quadrillion dollars-can be seen under http://theeconomiccollapseblog.com/archives/the-2-billion-dollar-loss-by-jpmorgan-is-just-a-preview-of-the-coming-collapse-of-the-derivatives-market). Greyerz broadcast is under http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/8/5_Egon_von_Greyerz.html.
Derivatives: The Unregulated Global Casino for BanksSHORT STORY: Pick something of value, make bets on the future value of "something", add contract & you have a derivative. Banks make massive profits on derivatives, and when the bubble bursts chances are the tax payer will end up with the bill. This visualizes the total coverage for derivatives (notional). Similar to insurance company's total coverage for all cars.LONG STORY: A derivative is a legal bet (contract) that derives its value from another asset, such as the future or current value of oil, government bonds or anything else. Ex- A derivative buys you the option (but not obligation) to buy oil in 6 months for today's price/any agreed price, hoping that oil will cost more in future. (I'll bet you it'll cost more in 6 months). Derivative can also be used as insurance, betting that a loan will or won't default before a given date. So its a big betting system, like a Casino, but instead of betting on cards and roulette, you bet on future values and performance of practically anything that holds value. The system is not regulated what-so-ever, and you can buy a derivative on an existing derivative.Most large banks try to prevent smaller investors from gaining access to the derivative market on the basis of there being too much risk. Deriv. market has blown a galactic bubble, just like the real estate bubble or stock market bubble (that's going on right now). Since there is literally no economist in the world that knows exactly how the derivative money flows or how the system works, while derivatives are traded in microseconds by computers, we really don't know what will trigger the crash, or when it will happen, but considering the global financial crisis this system is in for tough times, that will be catastrophic for the world financial system since the 9 largest banks shown below hold a total of $228.72 trillion in Derivatives - Approximately 3 times the entire world economy. No government in world has money for this bailout. Lets take a look at what banks have the biggest Derivative Exposures and what scandals they've been lately involved in. Derivative Data Source: ZeroHedge(http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/03/derivs%20by%20bank.jpg-top 25 commercial banks and trust companies in derivatives)-loads more with links and data visualization under http://demonocracy.info/infographics/usa/derivatives.
And if these are not enough bubbles, there are also these n others: a) http://thinkprogress.org/climate/2012/03/26/432617/the-20-trillion-carbon-bubble-interview-with-john-fullerton-part-one/?mobile=nc b) http://themoneyupdate.com/tag/1-trillion-in-student-loans/ c) the commodities bubble - http://www.thebubblebubble.com/commodities-bubble/ d) http://www.financialsense.com/contributors/michael-shedlock/2012/01/12/europes-390-trillion-pension-time-bomb - Europe’s $39 Trillion Pension Time Bomb e) http://www.scribd.com/doc/95828942/We-Are-Sitting-on-a-Ticking-Financial-Time-Bomb - Is Australia sitting on a ticking financial time bomb all along? also can have a read through of: a) Money: The end of free banking? 21 Aug 12Free banking is a myth, according to the Consumer Group Which? - but it doesn't call for a charge on current accounts as many regulators are doing. And today will see the one millionth uninsured car seized by police since it was given the powers to do so - but is enough being done to convince drivers to take out insurance? Plus - if we relied purely on our own shores for our fish and chips, we'd have pretty much already run out of fish for this year according to a report - but we speak to one fisherman who says that things could be a lot worse...Source: http://downloads.bbc.co.uk/podcasts/fivelive/money/money_20120821-0558a.mp3 b)Billions for the Bankers, Debt for the People-http://www.24hgold.com/english/news-gold-silver-billions-for-the-bankers-debt-for-the-people.aspx?article=726396844G10020&redirect=false&contributor=Money+as+debt&mk=1 c)Fingers of Instability-http://www.24hgold.com/english/news-gold-silver-fingers-of-instability.aspx?article=4023655934G10020&redirect=false&contributor=Ty+Andros&mk=1 d)Robots to Rule The World?Taking All Jobs?Replace Women?-http://www.24hgold.com/english/news-gold-silver-robots-to-rule-the-world-taking-all-jobs-replace-women-.aspx?article=4023646146G10020&redirect=false&contributor=Mish&mk=1 Many Others there under Google, News and so forth
and talking about gold and sorry the infographics are very long so putting links and brief outline: a)http://www.visualcapitalist.com/learningcentreI)Wars have been fought over gold. Love has been expressed by it. Gold has changed the landscape of civilizations and the world. But what makes gold so great? This infographic examines the history of gold from ancient history to the gold rushes of the centuries ago..... http://www.visualcapitalist.com/portfolio/gold-history-of-gold-part-ihttp://www.visualcapitalist.com/portfolio/gold-series-mining-supply-part-2II)How many world class gold deposits are there left? In this infographic we visualize research done by Natural Resource Holdings to show how truly rare of an asset a large and high-grade gold deposit is...http://www.visualcapitalist.com/portfolio/global-gold-mines-and-deposits-ranking-2012(30 page report-http://www.nrh.co.il/i/pdf/NRH_Research_2012%20World_Gold_Deposits.pdf)
b)All the world's gold facts-www.numbersleuth.org/worlds-gold/
c)Uses and Sources of Gold – Where gold comes from and where it goes(www.trustablegold.com/the-gold-tree-infographic/)
The Gold Tree Infographic visualizes above-ground stock of gold, sources of gold broken down to continents and countries and uses of gold. The infographic pictures the different forms of gold investments – ranging from physical gold in the form of bullion gold to securities not backed by gold.Compare gold investments-http://www.trustablegold.com/compare-gold/calculator/.
d)Vaulted Gold – Facts and Figures (http://www.trustablegold.com/vaulted-gold-infographic/)
The infographic on vaulted gold explains what vaulted gold is and visualizes key facts relating to investments in gold, which is stored on behalf of investors in high-security vaults.Compare gold investments-http://www.trustablegold.com/compare-gold/calculator/.
