Monday, December 31, 2012

LLoyds bank Customers were reporting today that they were unable to withdraw money from cash machines or pay by card.

Lloyds bank cards fail ahead of New Year celebrations
5:26PM GMT 31 Dec 2012
"New Year’s revellers have been left stranded without money as computer systems at Lloyds Banking Group crashed, leaving customers unable to withdraw cash this afternoon. Lloyds customers have flooded Twitter to complain that they are unable to get money out of cash machines and that their debit cards were being declined. Others claimed they were unable to access up-to-date details of their bank account, although the bank later said that this "intermittent problem" had been resolved. The problems affected both the Lloyds TSB brand and those with Halifax and Bank of Scotland accounts, all of which are part of Lloyds Banking Group. The bank, which has 22 million current account customers, is the largest retail bank in the UK. It is now part owned by the taxpayer after it had to be bailed out by the Government during the financial crisis in 2008 and 2009. One twitter user, Steve J, tweeted: “Cash machines don’t work, debit card refused (so no cashback). What a great time for computer problems. Thanks.”"

Saturday, December 29, 2012

Ron Paul On The Fiscal Cliff: "We Have Passed The Point Of No Return"

"We have passed the point of no return where we can actually get our house back in order," Paul begins, adding that "they pretend they are fighting up there, but they really aren't. They are arguing over power, spin, who looks good, who looks bad; all trying to preserve the system where they can spend what they want, take care of their friends and print money when they need it." With social safety nets available to rich and poor, there is no impetus for change and "the country loses," but Paul concludes, the markets are starting to say "there is a limit to this."

Thursday, December 27, 2012

Thursday, December 20, 2012

Large money going long gold.

"What is happening now is the Great Train robbery
whereby the Goldmans of this world will take a huge long position in gold under the beard of manipulation and control of popular gold guys plus financial TV. Please tell our Euroland friends to simply hunker down because this is as much of a passing cloud as was every single reaction since $248. Once these blackards take all the CIGA gold they can get, we are off to $3500 and above. This is not something I think. This is something I know."
"Respectfully, Jim"

Monday, December 3, 2012

Credit Suisse accounts to have negative interest rate

"In a world that already makes little sense to most, Credit Suisse just pushed the envelope a little further. The bank has just announced that going forward it will be charging for firms to hold a CHF cash balance - i.e. the bank, given the already-negative Swiss government bond yields, has moved to its own NIRP for its clients. The need to do this suggests an overwhelming desire for short-term safety that flies in the face of the seeming level of complacency that exists in the European bond (and stock markets). As we have warned before, it seems that the currency wars that appear to have escalated have now started the 'capital control' wars as CS (and implicitly the SNB) adds this negative interest rate 'charge' to its already pegged currency in the vain hope of managing the unmanageable flow of safe-haven-seeking cash."