Haystack December 2011

[Paul]

http://www.zerohedge.com/news/gold-take ... -other-way

[Rasta]

Good morning! Mark Faber: "I Am Convinced The Whole Derivatives Market Will Cease To Exist And Will Go To Zero"



Enjoy your breakfast. Link to video [6:43]

[Indiana Jones]

For once they do what I want them to do and not the other way around (link):.....

http://sendables.jibjab.com/view/dfkfrd7Mkno9SIQg

Merry Christmas Y'All
Indy

[Rasta]

Fofoa: Merry Christmas North Korea

[Rasta]

Through Zerohedge, reported by Bloomberg: World's Second And Third Largest Economies To Bypass Dollar, Engage In Direct Currency Trade

"Japan and China will promote direct trading of yen and yuan without using dollars and will encourage the development of a market for the exchange, to cut costs for companies, the Japanese government said. Japan will also apply to buy Chinese bonds next year, the Japanese government said in a statement after a meeting between Prime Minister Yoshihiko Noda and Chinese Premier Wen Jiabao in Beijing yesterday."

[Rasta]

A nice read: Guest Post: A Run On The Global Banking System - How Close Are We?

Thus apart from proving that the United States really is Argentina with nukes, the MF Global bankruptcy has proven something crucial: The central banks and government regulators have completely fallen into the trap of confusing the welfare of the “Systemically Important Financial Institutions” with the welfare of the system itself. They don’t seem to realize that the SIFI’s are actors within the system—not the system itself.

And we have to add, that the governments are not really confusing the “Systemically Important Financial Institutions” with the welfare of the system itself. They need the Financial Institutions to keep buying government bonds, to avoid [government] self extermination. Sometimes things are pretty simple seen from above.

[Rasta]

We continue in the Haystack January 2012