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Businesses added 230,000 jobs in October

Kushinator said:
Not if you're long gold!

:laughat: DA60
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Really?

When I first got into the Gold/silver market in late summer of 2007, Gold was at roughly $650 and silver was roughly at $12.

So I have returned about 30% on silver and about 75% on gold.

Since mid 2007, for example, the DOW is up about 20%.


I would say I have done very well (though granted, I had done far better a few years ago) being 'long gold'.

My only wish is that I did not hesitate as long as I did to first enter the precious metals market.


Good day.
 
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Kushinator said:
Why do you continue to spew the same false narrative?
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Its not a false narrative.

Its not 2008 anymore Kush. You people dont have the advantage of the parsed data on Fannie and Freddies holdings that was released 6 years ago to cover the Democrats asses.

There's been plenty of evidence that surfaced since then thats exposed the GSEs for what they were.

Lets see, there's Fannie Mae's relationship with Country Wide ( that goes back to the late 90s ) that led to Fannie becoming the primary consumer of Country Wides junk loans.

Theres the 2011 SEC investigation thats revealed that the GSEs falsely reported on 1/10 of their holdings of worthless securities.

There's Eric holders own Lawsuites, that claim Fannie Mae was suckered into buying Country Wides trash debt.

That made public the amount of SOME of Fannie Mae and Freddie Mac purchases.

Even though the Fannie and Freddie Foundation bragged about buying up Country Wides their trash loans in 2004. Even though Fannie Mae worked with Country Wide back in 1998 to develop the " Fast and EZ loan.

And there's the FHFMA Lawsuit against a long list of Banks that supposedly tricked the GSEs into buying worthless securities. That lawsuit made public the enormous amount of worthless securities the two GSEs bought over a short period of time.

I think that lawsuite alone made public over 250 Billion dollars in Subprime securities purchased by the two GSEs.

There's the 2004 revised GSE goals set by HUD that made public over 80 Billion dollars in Subprime securities purchases from 2000-2004.

Then finnaly, there's the FEDs agreement to buy up 1.5 Trillion dollars worth of Fannie and Freddies " AAA " TRASH Securities.

Why on earth would those MBSs have to be unloaded onto the FEDs books ? Because their backed by Prime loans ? No, their backed by Subprime loans.

Their trash and the FEDs stuck with them.

So enough with your nonsense and defense of two massively corrupt Financial Agencies.

Fannie Mae and Freddie Mac had some HUGE advantages over your average investment bank.

They were exempt from paying Federal and Local taxes. They had a direct line of cheap credit ( 4 Billion ) from the US Treasury NO bank could touch.

Their debt had a " AAA " rating which they gladly took advantage of to beat out other investment banks when it came to borrowing costs.

They were exempt from SEC reporting requirements up until 2006. ( ALL Publicly traded Corporations have to submit quarterly statements ) When they did Finally submit their quarterly financial statements to the SEC M they LIED their asses off and hid enormous amounts of debt.

Makes all of those claims of the GSEs being " victimized " by the evil banks sound like complete BS. They are BS, the GSEs knew t they were buying.

They were defended by the Democrat party and their only REAL regulator ( OFHEO ) was threatened by the Democrat party when they uncovered corrupt accounting schemes in 2004.

They wound up holding over 5 Trillion dollars in debt when they were declared insolvent in 2008.

But think about all of the securities THEY bundled and pushed out into the Capital markets that were supposed to be "AAA " . Think about the consequences of the trash they distributed.
 
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Fenton said:
Its not a false narrative. Its not 2008 anymore Kush. You people dont have the advantage of the parsed data on Fannie and Freddies holdings that was released 6 years ago to cover the Democrats asses. There's been plenty of evidence that surfaced since then thats exposed the GSEs for what they were. Lets see, there's Fannie Mae's relationship with Country Wide ( that goes back to the late 90s ) that led to Fannie becoming the primary consumer of Country Wides junk loans. Theres the 2011 SEC investigation thats revealed that the GSEs falsely reported on 1/10 of their holdings of worthless securities. There's Eric holders own Lawsuites, that claim Fannie Mae was suckered into buying Country Wides trash debt. That made public the amount of SOME of Fannie Mae and Freddie Mac purchases. Even though the Fannie and Freddie Foundation bragged about buying up Country Wides their trash loans in 2004. Even though Fannie Mae worked with Country Wide back in 1998 to develop the " Fast and EZ loan. And there's the FHFMA Lawsuit against a long list of Banks that supposedly tricked the GSEs into buying worthless securities. That lawsuit made public the enormous amount of worthless securities the two GSEs bought over a short period of time. I think that lawsuite alone made public over 250 Billion dollars in Subprime securities purchased by the two GSEs. There's the 2004 revised GSE goals set by HUD that made public over 80 Billion dollars in Subprime securities purchases from 2000-2004. Then finnaly, there's the FEDs agreement to buy up 1.5 Trillion dollars worth of Fannie and Freddies " AAA " TRASH Securities. Why on earth would those MBSs have to be unloaded onto the FEDs books ? Because their backed by Prime loans ? No, their backed by Subprime loans. Their trash and the FEDs stuck with them. So enough with your nonsense and defense of two massively corrupt Financial Agencies. Fannie Mae and Freddie Mac had some HUGE advantages over your average investment bank. They were exempt from paying Federal and Local taxes. They had a direct line of cheap credit ( 4 Billion ) from the US Treasury NO bank could touch. Their debt had a " AAA " rating which they gladly took advantage of to beat out other investment banks when it came to borrowing costs. They were exempt from SEC reporting requirements up until 2006. ( ALL Publicly traded Corporations have to submit quarterly statements ) When they did Finally submit their quarterly financial statements to the SEC M they LIED their asses off and hid enormous amounts of debt. Makes all of those claims of the GSEs being " victimized " by the evil banks sound like complete BS. They are BS, the GSEs knew t they were buying. They were defended by the Democrat party and their only REAL regulator ( OFHEO ) was threatened by the Democrat party when they uncovered corrupt accounting schemes in 2004. They wound up holding over 5 Trillion dollars in debt when they were declared insolvent in 2008. But think about all of the securities THEY bundled and pushed out into the Capital markets that were supposed to be "AAA " . Think about the consequences of the trash they distributed.
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You are borderline delusional when it comes to discussions regarding mortgage underwriting in the U.S.. Save this stuff for the conspiracy theory section of this forum.
 
US-based employers report planned layoffs of 51,183 in October: Challenger

'The number of planned layoffs by U.S. employers surged nearly 70 percent in October after falling to a 14-year-low in September, according to a report by Challenger, Gray & Christmas.
Employers planned to cut 51,183 jobs in October, up significantly from 30,477 the previous month and the second highest reading this year.
The retail sector led the job losses with 6,874 planned layoffs, more than three times the cuts announced in September.'

US planned job cuts in Oct total 51,183 vs 30,477 the prior month: Challenger

2014 October Job Cut Report: Job Cuts Surge to 51,183 | Challenger, Gray & Christmas, Inc.

Job Cuts Surge 68%, Most In 3 Years; Worst October Since 2009 | Zero Hedge
 
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