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Genesis Posts: 71435 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/803-Up....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-17 08:45:09
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Lplate Posts: 2099 Incept: 2008-08-06 
Australia
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kd- A big thank you :)
2009-02-17 08:47:41
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Bozonian Posts: 14033 Incept: 2007-09-01
PFT - Pure F'n Tin
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No mention of this on CNBC.
---------- I'm so depressed about outsourcing I called the suicide hotline and got a call center in Pakistan. They got all excited and asked me if I could drive a truck. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.
2009-02-17 09:05:58
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Wearedoomed Posts: 904 Incept: 2009-01-14
Petra
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bilge
---------- The shrewdest of the great generals in China's history once said that perfection in war lay in so sapping the opponent's will that he surrenders without fighting. Last modified:
2009-02-17 09:10:11 by wearedoomed
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Asimov Posts: 26716 Incept: 2007-08-26
east tennessee
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No mention on bloomberg either. All the news that's fit to print^H^H^H^H^Hencourgage the masses. ---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-02-17 09:11:17
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Templar223 Posts: 397 Incept: 2008-04-28 
Champaign, IL
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Great Ticker(s) last night and today, Karl. I think we both know Obama has no sack though. You may be hoping and there's nothing wrong with that. Thanks for the heads up. J
2009-02-17 09:23:06
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Wearedoomed Posts: 904 Incept: 2009-01-14
Petra
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Dammit. I can't find a single site discussing this. Anyone have a link?
---------- The shrewdest of the great generals in China's history once said that perfection in war lay in so sapping the opponent's will that he surrenders without fighting.
2009-02-17 09:25:35
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Baldy Posts: 6555 Incept: 2008-05-16
Pittsburgh
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Medvedev (sic) also sacked 4 govs yesterday. They have had increasing unrest too- few weeks back police beat actual COMMIES. They blew through a lot of their currency reserves trying to protect the ruble. A third I think. Also raised tariffs on car imports, IIRC.
---------- FY2011 Budget - Hist'l Tables (PDF 2.0 MB) http://www.whitehouse.gov/omb/budget/fy2011/assets/hist.pdf 1996-2011 budgets: http://www.gpoaccess.gov/usbudget/browse.html
2009-02-17 09:26:46
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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Yep. They've burned somewhere north of half of their FX reserves attempting to defend their currency. That's always a losing strategy - that Medvedev and Putin are dumb enough to have attempted it speaks to either idiocy - or desperation. I suspect more of the latter than the former, but it doesn't matter. Russia's capital markets are finished and along with them their government's ability to finance will be severely damaged if not destroyed. The bad news is that we may not be far behind them. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-17 09:28:28
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Baldy Posts: 6555 Incept: 2008-05-16
Pittsburgh
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Trading on the RTS equity market suspended for an hour Due to the technical index going down by more than 5% as compared to its closing value, trading on the RTS equity market based on indirect orders was shut down at 4:05 pm MSK for an hour. For further information, please contact the RTS Public Relations Department at +7(495)705-9031, 500-3840. http://www.rts.ru/a18285/?nt=100 ---- AND TASS used to be reputable for USSR not sure about now, but seems OK: http://www.prime-tass.com/index.asp ---------- FY2011 Budget - Hist'l Tables (PDF 2.0 MB) http://www.whitehouse.gov/omb/budget/fy2011/assets/hist.pdf 1996-2011 budgets: http://www.gpoaccess.gov/usbudget/browse.html
2009-02-17 09:34:11
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Wearedoomed Posts: 904 Incept: 2009-01-14
Petra
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Hello, TASS, there's an elephant in the room. No wait, it's sitting right on top of your own country. Not that I should expect TASS to report this; the FSB would probably double-tap anyone who tried. They were buried in CNBC and Bloomberg: http://www.bloomberg.com/apps/news?pid=2.... http://www.cnbc.com/id/29234547/site/140.... ---------- The shrewdest of the great generals in China's history once said that perfection in war lay in so sapping the opponent's will that he surrenders without fighting.
2009-02-17 09:49:35
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Asimov Posts: 26716 Incept: 2007-08-26
east tennessee
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Still hasn't been mentioned on bloomberg tv.
---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-02-17 09:56:22
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Padrino Posts: 2207 Incept: 2008-01-16
Prison
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Russian news TV in english http://streaming.visionip.tv/Russia_Toda.... ---------- "Every man is the architect of his own fortune." Last modified:
2009-02-17 10:24:10 by padrino
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Opalchip Posts: 93 Incept: 2007-08-13
San Francisco
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Obama has no sack? But everyone's been talking about how big his "Package" is for weeks :)
2009-02-17 10:34:57
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Tesla Posts: 8182 Incept: 2008-04-03
Delaware
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Krugman said it wasn't big enough 
---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-02-17 10:41:54
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Mvo Posts: 493 Incept: 2007-06-27
NYC
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Just spoke with my contact in premium segment of CRE space in Moscow, he says that USD denominated office rental prices are about 50% off the highs.
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2009-02-17 11:21:40 by mvo
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Offshoreman Posts: 87 Incept: 2008-10-22
Austin, Tx
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Looks like the gold spike was driven by the russians. Fear setting In?
2009-02-17 11:26:50
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Eternalblue Posts: 4230 Incept: 2007-08-09
sokali
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heh, russia's market has been closed several times already the past year or whatever
---------- my miniblog; http://economicpsychosis.blogspot.com/
2009-02-17 11:33:39
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Barnaby33 Posts: 522 Incept: 2007-07-24
San Diego
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Karl, do you have a link or a quick explanation for the swaps issue? I don't really have a grasp of that. I found what I think is a simple enough primer. After reading it and some of the comments, I think this comment sums up my basic unease with swaps. Quote:I am very suspicious of the comment made in this forum that swap lines can somehow simultaneously extinguish - sounds like utter nonsense to me. How can any good come of something that can just evaporate? And who would base an investment decision on something that they already know will not last and does not really exist. http://macroblog.typepad.com/macroblog/2.... Josh ---------- Short taglines rule! Last modified:
2009-02-17 11:58:46 by barnaby33
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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Its a swap of dollars for whatever other currency. It can kill you dead if the other currency implodes. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-17 11:52:18
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Baldy Posts: 6555 Incept: 2008-05-16
Pittsburgh
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First we extended swaps to major Euro countries, then we went haywire and extended them to some 3rd world countries: In addition, to address continued pressures in global U.S. dollar funding markets, the temporary reciprocal currency arrangements (swap lines) between the Federal Reserve and other central banks have been extended to October 30. This extension currently applies to the swap lines between the Federal Reserve and each of the following central banks: the Reserve Bank of Australia, the Banco Central do Brasil, the Bank of Canada, Danmarks Nationalbank, the Bank of England, the European Central Bank, the Bank of Korea, the Banco de Mexico, the Reserve Bank of New Zealand, the Norges Bank, the Monetary Authority of Singapore, the Sveriges Riksbank, and the Swiss National Bank. The Bank of Japan will consider the extension at its next Monetary Policy Meeting. The Federal Reserve action to extend the swap lines was taken by the Federal Open Market Committee. http://www.federalreserve.gov/newsevents.... and they just extended their duration till Oct...
---------- FY2011 Budget - Hist'l Tables (PDF 2.0 MB) http://www.whitehouse.gov/omb/budget/fy2011/assets/hist.pdf 1996-2011 budgets: http://www.gpoaccess.gov/usbudget/browse.html
2009-02-17 12:05:50
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Barnaby33 Posts: 522 Incept: 2007-07-24
San Diego
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Who inherits the currency risk on these swaps?
---------- Short taglines rule!
2009-02-17 12:07:09
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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That "extension" is likely because the original swap couldn't be paid back.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-02-17 12:07:44
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Offshoreman Posts: 87 Incept: 2008-10-22
Austin, Tx
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Oh **** there is pickens. LMAO!!
2009-02-17 12:08:57
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Guydaley Posts: 10915 Incept: 2007-07-10
Missouri & Wyoming Online
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Ruble tumbles as economic outlook darkens Wednesday February 18, 5:35 am ET Ruble tumbles 2 percent as oil falls and economic outlook darkens MOSCOW (AP) -- The Russian ruble fell 2 pct against the dollar and euro Wednesday as oil prices continued to slide and confidence in the economy weakened further. As of 12.30 p.m. (0930 GMT), the Russian currency was at 40.9 against a basket of dollars and euros -- just a step away from the trading limit of 41 rubles the Central Bank announced in January. The ruble, which had risen in the past two weeks as investors repatriated funds to pay taxes, suffered from fears that a renewed drop in oil prices will hurt the country's crucial energy sector. As crude oil in New York sank below $35 a barrel, Russian stocks entered a tailspin. Stock indexes on Monday fell by 9 percent, triggering halts on the exchanges. Economic Development Minister Andrey Klepach said Monday that Russia's economy will shrink by 2.2 percent this year, a far more pessimistic prediction than his earlier forecast for a 0.2 percent contraction. In January, Russia's industrial output dropped 16 percent from a year earlier, while auto production plunged a massive 80 percent. Other high-ranking government officials said last week that Russia is facing a budget deficit of 8 percent this year and is likely to slash its budget spending to stave off a sharp fiscal deficit. ---------- 2/17/09 = Hogzilla bill was signed = THE POINT OF NO RETURN = Cheers to the Reset, LONG LIVE THE UNDERGROUND ECONOMY! STARVE the BEAST! Adopt a J6P.
2009-02-18 07:41:51
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