I am not one to point out specific fuckery, when it comes to the internets. After all, the internet is a place where morons are smart and genius is belittled as fringe.
If you were surfing the internets today you read this story, which was picked up by several 3rd and 2nd tier blogs (aside from iBC, there are no 1st tier blogs in existence). In short the guy is claiming to have the actual results of the bank stress test. Apparently, someone who is into going to jail and shit had no problem leaking it to a third tier blog.
I give the guy, Hal, kudos for going with it. I mean, if I were in possession of such a document, I would be throwing logs on the fire, while laughing at all you clowns buying [[BAC]]. In no way would I discuss it, for fears of the SEC prosecuting my ass and delving into my personal shit.
Lo and behold, according to his blog, the SEC already made an inquiry.
I will go on record and say THERE IS NO FUCKING WAY THAT REPORT EXISTS, stating 16 of 19 banks are insolvent. If it does, well then, you better get your muskets ready, for the shit is about to hit the fan.
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all this led to todays big downturn??
M.Whitney on Bloomie today: Tough to link …just scroll down.
http://www.bloomberg.com/tvradio/tv/tvtoday.html
Turner blog haha all I can think of is Ted Turner’s porn mustache.
The internets don’t lie which is why I will be filthy rich tomorrow. I gave my bank account number to the Prince of Nigeria who sent me an e-mail telling me that I won the Nigerian Lottery.
ppt icon is missing!
Martin Weiss’s white paper.
That’s where he got the shit from.
http://www.scribd.com/doc/13889262/US-Banking-System-White-Paper-Weiss
Read it.
Same shit.
Least he could do was give the guy credit.
Supposedly, according to CNBC, there is some connection to a White Supremacist website. That being said CNBC is about as reliable as a White Supremacist website.
Hal Turner once said that there was going to be a North American Union and had some kind of coin in hand that he said was the prototype. We are being stress tested here.
Fly, best thing I read today was your Wall St. quote:
“Market takes the stairs up and elevator down.”
Then I hear Guy Adami use same quote tonight, Odd No?
BTW that show is searchin for its mojo. Poor Melissa Lee…give that girl some cocaine.
DEVILDOG is GOD
Don’t worry Fly, I have several muskets. I will let you into my bunker, provided you bring enough beans and tuna fish with you when TSHTF
mrkcbill: Here’s the Meridith Whitney Bloomberg link
Exactly, no government report would say all of our banks are insolvent… stupid.
Who wants to bet that 16 out 19 are insolvent ?
$565 trillion in derivative exposure world wide. If only 3 % is no good then you figure it out on top of: foreclosures, credit card losses, consumer loans, commercial real estate, still paying dividends, and share buybacks.
Never say never !
Obama is high fiving Chavez. Venezuela is an oil exporter. Chavez cannot support CO2 or carbon taxes. Would Obama high five the XOM CEO? See, this left wing liberal socialist Obama is a phony. The USA imports Venezuelan oil but Obama is not opening up drilling here.
I’ve seen Meridith talk about the cc lines being reduced before… and I still don’t understand her point. If cc customers are using the lines and the line gets cut okay, consumption may get cut. If they don’t use the line … does it really matter if an unused credit line gets cut. I am missing something here?
Buckeye,
a) It hurts potential growth,
b) It also creates potential bankruptcy in the event someone can not access lines when scraping the bottom of the barrel.
hey fly fuck you dude and gapping fuck you too you bastard child!!!
You too, Tradercaddy! He told me I am so rick. Cashed in my IRA too. The prince said he would cover the 10% penalty. Nice guy, truly…
Quick poll: what are all you ass lickers gona do when the shit really hits the fan and your internet conection faills ooopss cant trade and holding shitty positions during the melt down… diversify your bonds fools!!
GW:
I understand your point, but … how many US consumers base their current consumption patterns on an unused line of “reserve” credit?
I do know a couple of small business and one homeowner that have accessed lines just to make sure they don’t go away.
PhagMag,
I will probably work retail clothing, at a big box electronics store or, any place else that takes Chinese money. What, did you think there were any real jobs left in this country? Oh, and I always dental dam when ass licking… Safety first, sugar!
Fly, for once today I agree with you. The REAL report already says that 19 out of 19 are totally broke dick banks. Of course, we will be told they are all extremely well capitalized(with our future tax dollars) and nothing could be finer than the bank in Carolina(BAC).
Devildog
Respond to your fucking emails
Buckeye:
I think they’re also closing down accounts that have balances. From what i read a little while ago, the banks are sending out letters telling people to simply square up and fuck off.
Don’t blame them of course as these would have to be the worst of the worst credit card holders.
Fly
Why are you summing the redneck KNOWS how to use an email account?
Nice fine wawaweewa! Thanks for the link.
Anonymous:
An overbought low volume spring break rally is the reason we sold off today. Also to put some fear back into the market and to shakeout the bullshit week hands. And to give DevilDog false hope, for he will soon choke on inflation’s fat cock and never be heard from again.
J
Matter of fact, my MC was cancelled last yr by the bank because I haven’t used it in yrs.
AXP was/is cutting cks to customers it wants to eliminate.
I understand how cutting credit lines that are currently used can reduce consumption. How does cutting unused credit lines hurt consumption? GW posted some legit thoughts
If your normal revolving avg credit useage is 10 grand within available credit of 25K, and your available credit lines is cut to 20k… does it make a big difference to you. To the bank, it reduces possible losses by 5K
yea fly… well my money is on complete insolvency, outrageous chaos and blood in the streets. welcome to my nightmare… courtesy of bankers, govt, demons and satan. have a nice eternity. arnie
The Fly Says:
Devildog
Respond to your fucking emails
April 20th, 2009 at 11:29 pm Vote: Add rating 0 Subtract rating 0
Done. Thanks!
and you faggots are talking about overbought, low volume, chinese fuckery and such. wake the fuck up peeps because there is something so much bigger at stake that for some reason you just refuse to acknowledge. shake yourself girls… for crying out loud.
your careers are about to come to end. why does a no name prophet have to keep telling you this. get right with your god or whoever you praise. jeez… you fucking arrogant idiots.
Arnie, you’re mentally ill. Keep up with your meds already.
in due time you arrogant fuck. in due time… we’ll see how it plays out.
RT: ppt icon is missing!
arnie,
i’m with jake’s ma — i don’t know shit about your picks, but you’re completely nuts.
prophet’s always catch hell. nothing new. jesus performed miracles in his own hometown and they still didn’t believe he was god. so what.
Buckeye
I believe that extended lines actually form part of the credit availability stats. So cutting those lines actually means consumer credit falls.
However as you say unless those lines are used it doesn’t really matter all that much.
(Cut the Dog’s credit line)
I think the biggest bit of fuckery is the idea that people need a government report to tell them that most of the major banks are insolvent without government intervention….
Because that’s fairly obvious, at this point.
GW: The point everyone’s trying to make is that even if 16 outa 19 of these banks are insolvent, the people actually tasked with writing this much-vaunted report are never going to release anything indicating as such. The report will indicate that everything’s hunky-dory, because that’s what it has to indicate.
We can therefore assume that the “leaked” version of the report – which was already debunked as being l33ched from Weiss’s white paper – cannot be the “real” report.
Besides, this is Hal Turner we’re talking about. (Yo, dawg, I herd you liek memes, so I put a meme in this… aww, fuck it, although it is pretty lulzy that a Nazi nutcase I discovered through ED might have actually moved the markets on today, of all days…)
Anyways, we’re wasting perfectly good bits talking about some fucker who’s so dumb he can’t even succeed at bigotry. Bottom line is that this BS report may have moved markets, but only because the blogosphere picked up on it, and because people with more money than brains picked up on that.
Which makes it a buying opportunity, so go long now, with the intention of fading the spike when the “everything’s coming up roses” stress test report comes out, right?
Well, not so much.
The problem with today’s mini-meltdown is that it’s just as plausible that it had nothing to do with Turner’s bull^H^H^Hearshit, but that it had to do with BAC’s real report that indicates that things are even more fucked than C and WFC wanted us to believe a couple of weeks ago.
Whatever the stress-test report says, we know that BAC got just fucked six-ways-to-Sunday in every orifice on loan loss reserves. And I believe BAC’s report more than I believe C’s or WFC’s.
What to do now? Fucked if I know, I ain’t no space-alien magician.
/no positions in securities mentioned
//but hey, venting after having had a few beers waiting for an earnings report is fun, especially when you realize the report ain’t coming out until tomorrow morning and you might as well have another beer.
///”after the close on the 20th”, my ass!
We’ve been lied to repeatedly by those in charge of the financial system. There is no reason to believe anything they have to say now. Dodd, Bernanke, Blair et al…..
are fucking liars.
Who friggin needs a stress test when you have uup and unemployment numbers. I think this market rallied because mark to model caused some major short selling margin calls.
If UUP fell off a cliff, then maybe banks made a dime, but it didn’t and the banks are lying.
stress test? what a joke…it’s like the senior class that slept thru the entire year is asked to come up with their own SATS….where are the indictments? screw this pussy footing pencil pushing..lots of bodies need to be in orange
to appease the recently impoverished. Better known as the 99.99999% of the country that aren’t bankers.
Funny that the SEC investigator’s name is Mr. Polise(Police)
Guess Hal’s 3rd tier blog has given panick to bank shares and legs to FAZ. Pre- Market trading $12.99 as of this post.
Hal, Mr. Polise says , “watch your back’
the perfect algorithm for making money: long FAZ and FAS every 50/50 WITH ALL OF YOUR CASH. simply put a stop loss 3% down from where you bought each and go smoke blunts all day and check the next day. up 40% in the last 2 days. this will work as all hell is about to break lose everywhere in the world, and might i add it will be much worse than it is now. and dont forget to adjust your stop losses every day either, fucktards
keep it simple STUPID