tag:blogger.com,1999:blog-4490468598422095060.post8825233480071538295..comments2024-03-17T07:55:12.096-07:00Comments on FOFOA: Unambiguous Wealth 2 – The MF Global ChroniclesFOFOAhttp://www.blogger.com/profile/17152544684132776239noreply@blogger.comBlogger315125tag:blogger.com,1999:blog-4490468598422095060.post-53402788971551520502011-12-24T15:20:05.996-08:002011-12-24T15:20:05.996-08:00Unkown said, "It's something else for a b...Unkown said, "It's something else for a bar of silver stashed in a vault to instantly shrink in size by more than 25%."<br /><br />Not only does it shrink by that amount, the remaining 75% turns into fiat, as I understand the proposed outcome. This removal of silver from segregated accounts is not theft. It is confiscation, plain and simple. All gold and silver not in private pipehttps://www.blogger.com/profile/05089975200066257716noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-17417226169646091982011-12-20T14:27:21.680-08:002011-12-20T14:27:21.680-08:00Although GoldMoney holds LBMA good delivery bars f...Although GoldMoney holds LBMA good delivery bars for storage, the company currently offers delivery of gold in sizes as small as 100g.<br /><br />There is now a survey showing possible movement toward providing even smaller delivery denominations as well as easier access and additional vault locations, though nothing about alternative storage methods.<br /><br />https://www.surveymonkey.com/s/Ramonhttps://www.blogger.com/profile/15177032531133914670noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-42883550385366369342011-12-19T12:35:55.688-08:002011-12-19T12:35:55.688-08:00I have done some more reading on SDR history and h...I have done some more reading on SDR history and have come to a conclusion. As <a href="http://fofoa.blogspot.com/2011/12/unambiguous-wealth-2-mf-global.html?showComment=1324008959792#c4152304490395664845" rel="nofollow">FOFOA posted earlier</a>, the SDR has basically failed twice, once as a paper proxy for gold, and once as a proxy for currencies. Looking into the reason for these failures, I Dr. Octagonhttps://www.blogger.com/profile/13499084191178273591noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-7335494577284649412011-12-19T11:56:18.454-08:002011-12-19T11:56:18.454-08:00WOW, IT'S UNFOLDING JUST AS FOFOA SAID...
In...WOW, IT'S UNFOLDING JUST AS FOFOA SAID...<br /><br /><br />Investors are furious that they can't get back the gold and silver they stashed with the failed brokerage.<br />It's one thing for $1.2 billion to vanish into thin air through a series of complex trades, the well-publicized phenomenon at bankrupt MF Global. It's something else for a bar of silver stashed in a vault to Unknownhttps://www.blogger.com/profile/13269067908292874746noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-54718618701442603192011-12-19T00:18:25.468-08:002011-12-19T00:18:25.468-08:00SEOUL, Dec. 19 (Yonhap) -- South Korea is seeking ...<i>SEOUL, Dec. 19 (Yonhap) -- South Korea is seeking to create an Asian financial safety next year as part of the Chiang Mai Initiative Multilateralization (CMIM) regime to better insulate the regional economies from a worldwide financial meltdown, the country's senior economic policymaker said Monday.<br /><br /> Speaking at the G20 global economic cooperation conference hosted by the Jhttps://www.blogger.com/profile/17037440628680644516noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-46513847080800061782011-12-18T22:24:07.910-08:002011-12-18T22:24:07.910-08:00Management of a single digital UoA.
Sometimes the...Management of a single digital UoA.<br /><br />Sometimes the most obvious answer is the easiest one. <br /><br />Total transparency!!<br /><br />Every unit accounted for. Every unit available for every user to see in the digital domain.<br /><br />No worry about theft. Each user is uniquely identified in the system. Their data is protected via a storage device that is integrated into their personNickelsaverhttps://www.blogger.com/profile/17252539946241943478noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-41881944031516316332011-12-18T22:00:37.178-08:002011-12-18T22:00:37.178-08:00M,
That was actually Costata's question.
TF,...M,<br /><br />That was actually Costata's question.<br /><br />TF,<br /><br />I don't think your are grasping the implications of my senario. The necessity of a single reference point in SoV is clear with competing currencies. <br /><br />In suggesting a single point of reference UoE, I think I am making a very good case that in this instance the SoV COULD NOT also be a single point of Nickelsaverhttps://www.blogger.com/profile/17252539946241943478noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-88774114325326615152011-12-18T21:55:24.093-08:002011-12-18T21:55:24.093-08:00HUA HIN: Thailand plans to sign a bilateral curren...HUA HIN: Thailand plans to sign a bilateral currency swap agreement this week worth 7 billion yuan ($1.1 billion) with China's central bank to help facilitate international trade between the two countries, the Bank of Thailand said on Sunday.<br /><br />"This agreement will help Thai business to directly exchange yuan currency with the baht when necessary and they do not need to do it Mhttps://www.blogger.com/profile/14298632737279907377noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-21702806868226932552011-12-18T21:50:54.359-08:002011-12-18T21:50:54.359-08:00FOFOA, please excuse my ignorance, but when you...FOFOA, please excuse my ignorance, but when you're saying "...$IMFS collapse—was faced 32 years ago and a solution was crafted at the highest levels. That solution took 20 years to launch (at great cost, mind you) and today it stands at the ready." what solution are you talking about? Thanks,<br /><br />BBlazzehttps://www.blogger.com/profile/01758906684749314424noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-52494748082430969272011-12-18T20:00:46.578-08:002011-12-18T20:00:46.578-08:00Hi Edwardo,
Yes, Jim Sinclair has been on the cas...Hi Edwardo,<br /><br />Yes, Jim Sinclair has been on the case for a long time. I put up this comment because I thought there should be at least one reference to the DTCC in the comments on this post.<br /><br />Glad you found the SDR piece to your liking.<br /><br />And a h/t to Dr. Octagon for prompting the discussion about SDRs. This time I have saved some links. So next time it comes up I'costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-4577207994781906632011-12-18T18:24:36.998-08:002011-12-18T18:24:36.998-08:00"For anyone holding stocks the structure of t..."For anyone holding stocks the structure of the DTCC is worth a long, hard look. I understand that stocks are registered by them under the name of the broker with whom the client has their account."<br /><br />Costata, FWIW, Jim Sinclair has been talking about this for ages. He clearly has very serious concerns about the safety of such assets in certain instances. In the meantime, nice Edwardohttps://www.blogger.com/profile/03613197383283896190noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-34596031301164715882011-12-18T17:58:21.588-08:002011-12-18T17:58:21.588-08:00@ Nickelsaver
you asked.."How does a saver e...@ Nickelsaver<br /><br />you asked.."How does a saver ensure that the currency will be well managed?"<br /><br />There is no incentives for anyone, CB or govt to print a currency that nobody is saving in. The inflation will just show up instantly. That is why currencies in a places like Jamaica have bouts of high inflation and then they become stable. Most of these basket case economiesMhttps://www.blogger.com/profile/14298632737279907377noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-44164745925966538162011-12-18T15:43:22.657-08:002011-12-18T15:43:22.657-08:00Bron´s: http://goldchat.blogspot.com/2011/12/my-th...Bron´s: http://goldchat.blogspot.com/2011/12/my-thoughts-on-freegold.html@mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-25992292863861937222011-12-18T13:03:50.500-08:002011-12-18T13:03:50.500-08:00I highly recommend the above speech, made a post w...I highly recommend the above speech, made a post with highlighting and comments.<br /><br />"...a shift to a multi-currency system requires that the privilege of incumbency of the US dollar be removed, that the sovereign debt weaknesses in the euro area be resolved, and that the renminbi develop its full international potential..."<br /><br /><br />http://@mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-86698902574077472602011-12-18T10:55:22.782-08:002011-12-18T10:55:22.782-08:00For anyone holding stocks the structure of the DTC...For anyone holding stocks the structure of the DTCC is worth a long, hard look. I understand that stocks are registered by them under the name of the broker with whom the client has their account.<br /><br />"Allocated" stock portfolios?<br /><br />A quote from an R. C. Whalen piece to add to this unambiguous ownership issue:<br /><br />>> Today, in fact, it is likely that a costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-25538290617781325042011-12-18T10:44:14.199-08:002011-12-18T10:44:14.199-08:00The reform of the international monetary system
Sp...The reform of the international monetary system<br />Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB,<br />Conference in memory of Tommaso Padoa-Schioppa,<br />Rome, 16 December 2011<br /><br />http://www.ecb.int/press/key/date/2011/html/sp111216.en.html@mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-17059648482544511082011-12-18T10:17:11.413-08:002011-12-18T10:17:11.413-08:00I should have written "our system, broadly de...I should have written "our system, broadly defined" since few today would like to think of Nazi Germany as akin, except quite remotely, to the present brand of police state practiced in the U.S. However, I would argue that, if by some felicitous act of fate, Hitler and the Nazis had ceased to wield any power after 1934 that they and their ilk would not hold their richly deserved place Edwardohttps://www.blogger.com/profile/03613197383283896190noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-89218888230524815182011-12-18T10:00:13.557-08:002011-12-18T10:00:13.557-08:00Chavez is the word, indeed. The old Marxist comman...Chavez is the word, indeed. The old Marxist commandante would recognize as well as anyone a crime in the making, not to mention outright gangsterism. In the meantime, the implications of this MF Global criminality extend well beyond the purview of freegold. I do have to wonder if the temporal correlation of this development with that of the passing of the vile NDDA bill shouldn't, in effect,Edwardohttps://www.blogger.com/profile/03613197383283896190noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-17992371120701056592011-12-18T06:30:43.487-08:002011-12-18T06:30:43.487-08:00Perhaps this is the legal explanation for the owne...Perhaps this is the legal explanation for the ownership issue of allocated physical metals at MFGlobal??<br /><br />See <a href="http://seekingalpha.com/author/avery-goodman/comments/symbol/phys" rel="nofollow">this</a> <br />The warehouse receipts are specifically tied to idenifiable (sic) bars of gold. BUT, with the advent of electronic warehouse receipts, the new exchange rules say customers Lisahttps://www.blogger.com/profile/15451563451965250851noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-67010100799242048532011-12-18T05:13:07.902-08:002011-12-18T05:13:07.902-08:00rickards part 2:
http://kingworldnews.com/kingwo...rickards part 2: <br /><br />http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/12/18_Jim_Rickards__Part_II.htmlJeffhttps://www.blogger.com/profile/08785185950964767294noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-747403761619222572011-12-18T03:17:12.254-08:002011-12-18T03:17:12.254-08:00MF Global: Who Knew What, and When?
Worth a read<a href="http://www.fool.com/investing/general/2011/12/16/mf-global-who-knew-what-and-when.aspx" rel="nofollow">MF Global: Who Knew What, and When?</a><br /><br />Worth a readJhttps://www.blogger.com/profile/17037440628680644516noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-81832603862803499172011-12-18T01:53:39.983-08:002011-12-18T01:53:39.983-08:00Matthew Elderfield: PRISM – risk based supervision...Matthew Elderfield: PRISM – risk based supervision in Ireland<br />Address by Mr Matthew Elderfield, Deputy Governor of the Central Bank of Ireland, to the ACCA (the Association of Chartered Certified Accountants), Dublin, 1 December 2011.<br /><br />"...The recent Custom House Capital case is a stark and timely reminder of the importance of having an effective supervisory framework for @mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-71733177666614827972011-12-18T01:52:26.995-08:002011-12-18T01:52:26.995-08:00Where's the incentive (as a money manager) to ...Where's the incentive (as a money manager) to keep yourself in between your clients and their allocated gold? Is it to secure that miniscule share of a 0.6% annual storage fee? Is allocated gold rendered useless to the people simply so that their money managers can lock in 5 basis points per year in perpetuity? On one (1) tonne of gold that would be $25K per year to the guy that sold you FOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-44891709310129033862011-12-18T01:32:08.596-08:002011-12-18T01:32:08.596-08:00This is yet another opportunity to wonder how many...This is yet another opportunity to wonder how many people are still out there who think they own gold, but in fact don't.<br /><br />I also wonder whether this might, at least in part, explain why the LBMA banks have never come under serious pressure after 2001.<br /><br />VictorAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-24134562320795009242011-12-18T01:30:14.917-08:002011-12-18T01:30:14.917-08:00Euro area sovereign crisis drives global financial...Euro area sovereign crisis drives global financial<br />markets<br />December, 2011<br /><br />"Bank funding and solvency move into focus<br />The intensification of the euro area sovereign debt crisis went hand in hand with banking sector weakness. While bank funding problems had manifested themselves throughout the year, policymakers and market participants increasingly turned their @mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.com