Archivo para septiembre, 2010

Golpe de Estado en Ecuador. Sigue en vivo los detalles de esta maniobra gringa-judia!

Posted in Uncategorized on septiembre 30, 2010 by Ajmaknic


23-9-2010 I love painted paper ?

Posted in Uncategorized on septiembre 29, 2010 by Ajmaknic


By Mark Gilbert – Sep 23, 2010

Bloomberg Opinion

Most of us own truths too painful to confess. We drink too much. We lust inappropriately. We envy. We covet material goods, when every study shows experiences count for so much more. Confessing them, even just to ourselves in the long, dark teatime of the soul, is too distressing.
The collective subconscious of the financial markets is no different. It knows pension systems are bankrupt, water wars are coming, China will best the West, Keynesian stimulus is a surefire way to stoke inflation, gold is saying something, and the banking community remains as rapacious as it was prior to the credit crisis. Knowing and admitting isn’t the same thing.
The following paragraphs list some of the taboos that should ping our radar harder.
In Price Is Knowledge

If you told Rip van Bondtrader that gold had risen to a record during his decade-long slumber, he’d want to know what the inflation outlook was, and how badly he’d gotten killed on his bond investments. He’d be astonished to discover that he’s made a total return of about 8 percent since January on Treasuries maturing in more than a year.

“What makes the gold story so interesting is that bullion has so many different correlations — with inflation, with the dollar, with interest rates, with political uncertainty,” according to David Rosenberg, chief economist at Gluskin Sheff & Associates in Toronto. “This year, for example, gold has shifted from being a commodity toward being a currency — the classic role as a monetary metal that is no government’s liability.”

Gold may be screaming more about a general mistrust of the securities markets than about the prospect of rising prices. Rip, though, would be similarly horrified to see cotton trading near a 15-year high at more than $1 a pound, or wheat surging more than 30 percent in the past year, helping to drive a UBS/Bloomberg index of food prices up by about 28 percent. The official figures say inflation is dormant; the phrase “lies, damned lies and statistics” springs to mind.

Lots of Clever People Don’t Believe in Currencies
Imagine trying to explain to a grandmother or a teenager that a lot of very clever people in the financial world don’t actually believe in dollars, euros and yen. Exchanging goods and services for bits of paper is a confidence game, say some; a conjuring trick without bones, because without the skeleton of a gold standard, so-called fiat currencies are worth nothing more than the paper they are printed on.
Even the majority of finance professionals who don’t see any need to back currencies with precious metals are haunted by the thought of the central bank printing presses whirring into action. And, with every nation in the world trying to export its way out of trouble, the beggar-thy-neighbor race to devalue currencies will only gather pace in the coming months.
When I’m 64
Folk wisdom claims that bumble bees defy the laws of physics because their power-to-weight ratio should be insufficient to allow flight. Luckily, because the bees don’t know this, they happily take off, buzz around and land, buoyed by blissful ignorance. Similarly, no sane investor would ever buy a stock or a bond if they stopped to consider the inverted- pyramid mathematics of an ageing, death-resistant population, a slump in birthrates, and the New Normal of spectacularly low returns in a post-bubble environment.
How on Earth is society going to pay pensions to this growing army of old people? If granddad does what investment theory says he should and socks his nest egg (assuming he even has one) into the ultra safety of Treasuries, earning a record- low yield of less than 0.45 percent on two-year securities, how will he afford his medications? Many countries and companies are probably bankrupt once you account properly for their future obligations; some problems, though, are too big and too intractable and too downright scary for polite conversation.
Water, Water Everywhere
The recent surge in the price of wheat as a summer-singed Russia banned exports should have been a sign that food security is a global tinderbox waiting to flare. Everyone has read the stories about Chinese officials wandering around Africa buying agricultural rights that last for decades; no-one wants to really consider the consequences of not being able to feed their kids.
While the West was tinkering with its crops to grow allegedly environmentally friendly fuel for our automobile obsession, the nation that takes the long view was snapping up long-term leases on the world’s bread boxes. In the not-too distant future, nations that currently share rivers will divide into those geographically fortunate enough to be the source of those waterways, and those risking drought and deprivation.

The Inflationary Consequences of John Maynard Keynes

Inflation is always and everywhere a monetary phenomenon, according to Milton Friedman, who has been eclipsed in recent years by his chief competitor, John Maynard Keynes. Every bond investor suspects that chucking billions of dollars into the global economy builds a bed of kindling; nobody wants to shout “fire!” in a crowded trade.

The Answer to Too Much Debt Is Not More Debt
Lending to governments is not risk-free, whether that government is Argentina, Iceland, Ireland or the U.S. These days, when you buy government debt, you are taking on the credit risk of the global financial system because that is what the too-big-to-fail doctrine has saddled the world’s taxpayers with.
This week’s successful debt auctions by Ireland, Greece and Spain sure beat the alternative of failed sales with nobody turning up. With central banks acting as buyers of first and last resort, however, it is impossible to pretend that the capital markets are functioning properly — another dirty little secret kept suppressed deep in the subconscious.

(Mark Gilbert is the London bureau chief and a columnist for Bloomberg News. The opinions expressed are his own.)

22-9-2010 Gold & Guns !!!

Posted in Uncategorized on septiembre 29, 2010 by Ajmaknic


"The time has come – the walrus said – the only valuable things are Gold and Guns"

Establishment economist Sinai: Fed’s code means ‘buy gold’

NEW YORK — The Federal Reserve’s statement yesterday that inflation is below levels consistent with the central bank’s mandate for price stability means it’s time to buy gold, said Allen Sinai, chief global economist at Decision Economics Inc. in New York.
"That’s code for ‘we don’t want to go the way of Japan so we’re going to print money,’" Sinai said in a radio interview today on "Bloomberg Surveillance" with Tom Keene. "You gotta buy gold when those two central banks are doing what they’re doing."
Gold for December delivery was 1.6 percent higher at $1,294.2 an ounce at 8:11 a.m. on the Comex in New York, after touching an all-time high $1,296.50. Bullion for immediate delivery rose 0.4 percent to $1,292.60 an ounce in London, after earlier today rising to a record $1,295.
The Fed’s Open Market Committee said yesterday it was "prepared to provide additional accommodation if needed" to support the recovery and boost inflation. Gold, which often moves counter to the dollar, has advanced 17 percent this year and is heading for its tenth consecutive annual gain.
Sinai said he forecasts a $1,500 price for gold. "Inflation-adjusted, it’s still cheap, as odd as it sounds," he said.

Dan Norcini: Gold is the battle for economic supremacy

Submitted by cpowell on Wed, 2010-09-22 22:48. 6:45p ET Wednesday, September 22, 2010

From Dan Norcini’s daily commentary tonight at Jim Sinclair’s Internet site:
"As our wise friend Monty Guild has written in his recent commentary, the rise of the yellow metal is not going to be without its enemies’ notice. The problem for the West and its perennial gold price-rigging scheme is that the central banks of other emerging economic powers around the globe have plans to increase their official gold holdings as part of their reserves and are emerging as buyers of the yellow metal. While the West may attempt to fight the rise in price, the East is going to be there to buy it up on the dips that such machinations create. I have long maintained that the battle over gold is really a battle for economic supremacy."

21-9-2010 U.S.A. N° 1

Posted in Uncategorized on septiembre 29, 2010 by Ajmaknic

U.S.A. Nº 1

He visitado el país de los muertos,

la tierra del dólar, del no-sentimiento,

la tierra del frío, del frío de adentro.

Estados Unidos : el gran cementerio.

Y en aquellos días preguntaba siempre:

Dios mío ¿ Por qué es que te siento tan lejos ?

Las calles desiertas. Los parques sin juegos.

Los ojos helados en las caras huecas.

Andando de prisa, de prisa y silencio,

mascando la goma que les come el tiempo.

Y en aquella tarde me encontré diciendo:

Dios mío ¡ Qué pobres los hace el dinero !

¿ La tecnología ? Es fin y no medio.

¿ La gran democracia ? Un teatro, por cierto.

¿ La estatua … la antorcha … ? Sin llama ni fuego

que entibien siquiera su corazón de hierro .

Y en aquel vacío me encontré llorando.

Dios mío ¡ Qué feo es vivir entre muertos !

Fernando F.M.
Flint, Michigan – 1969

21-9-2010 Even Brazil condemnates the dollar .

Posted in Uncategorized on septiembre 29, 2010 by Ajmaknic

Policy Makers Can Do Little To Halt Dollar Slide, Brazil’s Meirelles Says

By Arnaldo Galvao and Andre Saliani – BLOOMBERG – CURITIBA – BRAZIL .

Brazilian central bank President Henrique Meirelles said the dollar is weakening because of problems in the U.S. economy and there’s very little policy makers can do about it.

“No country in the world can hold the dollar,” Meirelles said today during a speech today in the city of Curitiba. He said his comments weren’t specifically tied to the Brazilian currency’s value.

Brazil’s real has gained 34 percent against the dollar since the beginning of last year, the second-best performer among the world’s 16 most-traded currencies.

Nota : lo interesante de esta opinión es que no proviene de un "competidor" de los Estados Unidos como podría ser Rusia o China, sino de un páis "emergente" como el Brasil.

Arabes délphicos en la Patagonia

Posted in Uncategorized on septiembre 28, 2010 by Ajmaknic

Amigos délphicos :
Aquí envío una foto que me mandó Salvi desde la Patagonia.
Raque salió como es : una bella princesa Tehuelche.

27-9-2010 Gold & Guns

Posted in Uncategorized on septiembre 28, 2010 by Ajmaknic

GOLD AND GUNS (and be ready for anything)
ORO Y BALAS (y estén preparados para cualquier cosa)

Jim Rickards, economista experto en crisis financieras, socio gerente de Omnis Inc. y ex abogado jefe de Long Term Capital Management explicó durante una reciente entrevista de CNBC, que ve la posibilidad de que el oro alcance los 5.000 dólares la onza como completamente realista. “Si se implanta nuevamente el patrón oro, tendrá que fijarse en un nivel adecuado de inflación frente al dólar”, señalo el experto. “No es un pronóstico, es matemática pura y así será una vez que el dólar se derrumbe”, indico Rickards, que agregó que los precios del oro podrían llegar a alcanzar los 11.000 dólares la onza, ante el asombro de los presentadores de la CNBC.
Rickards hizo hincapié en que el oro no está subiendo, que es el dólar el que se está hundiendo, y que percibiremos las consecuencias en todos los ámbitos de la economía.

“Un traje de hombre continuara valiendo aproximadamente una onza de oro que es lo que más o menos a costado siempre. Pero ese traje en dólares multiplicara su precio”, explicó Jim Rickards.