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Jeff Nielson

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  • Thoughts on Geithner, China and Foreclosure-Gate [View article]
    sentence should have read:

    "...WHY China won't let the U.S. devalue the dollar versus the renminbi."
    Oct 20 03:16 PM | 2 Likes Like |Link to Comment
  • Goldman Sachs (GS) will divide $3.8B among 35,400 employees in Q3, a pay pool reduced significantly from the year-ago period, FT reports. The cuts result from a slump in the bank’s profit as a result of a slowdown in trading, as well as the glare of the spotlight over salary and bonuses. But overall, Wall Street pay remains rich indeed.  [View news story]
    What people need to remember as these obscene bonuses are handed out is what is IMPLIED.

    As Wall Street's MASSIVE fraud begins to be exposed, the ONLY defense of senior executives is that "they did not know" what was being done by their underlings (systematically, for years - lol).

    This DIRECTLY implies gross negligence/incompetence: grounds for "termination WITH cause" (i.e. no "golden parachute").

    However, with ALL of these senior fraudsters, they are either STILL working for their respective fraud-factories - and reaping FAT "bonuses", or they've gotten "golden parachutes".

    And in taking these ill-gotten gains, they have ALL eliminated their ONLY legal defense, when they (eventually) have their day in court.
    Oct 20 03:01 PM | 1 Like Like |Link to Comment
  • HUD Secretary Shaun Donovan says the U.S. will press banks to correct foreclosure paperwork irregularities but finds "no evidence at this point of systemic issues in the underlying legal or other documents that have been reviewed." A probe into the largest mortgage servicers uncovers "a significant variation" among their operations, he says.  [View news story]

    Someone should introduce Mr. Donovan to the phrase "foreclosure mill".

    "Foreclosure Fraud Fall-out"
    Oct 20 02:52 PM | 1 Like Like |Link to Comment
  • Thoughts on Geithner, China and Foreclosure-Gate [View article]
    There are two major flaws in this article.

    First (as usual) there is no explanation of WHY China won't the U.S. devalue the dollar versus the renminbi.

    The U.S. owes China close to $2 trillion. The U.S. wants to CHEAT China out of $100's of BILLIONS, by dramatically devaluing the USD versus the renminbi - by paying BACK "dollars" which were worth much less than what China lent.

    The other major flaw is the author's gross understatement of potential Wall Street risk/liabilities - as the most-massive fraud in human history just got ten times larger.

    "Foreclosure Fraud Fall-out"
    Oct 20 02:12 PM | 4 Likes Like |Link to Comment
  • Wells Fargo (WFC +5.6%) says its "practices, procedures and documentation for both foreclosures and mortgage securitizations are sound and accurate," and has no plans to begin a moratorium on foreclosures. Last week, FT reported that a Wells employee swore that she signed up to 500 foreclosure documents a day on behalf of the bank.  [View news story]
    The CEO of Ban of America stood in front of a camera and said that its fraud-factory did nothing wrong either - while TWO anecdotes were being reported of BoA TRYING to foreclose on homes that HAD NO MORTGAGES, at all.

    Obviously, what a banker SAYS, and the "truth" are completely uncorrelated.

    "Foreclosure Fraud Fall-out"
    Oct 20 02:07 PM | 7 Likes Like |Link to Comment
  • Can the U.S. Economy Recover? [View article]
    Wow, my recent article about "the blind leading the blind" certainly applies to this piece of wishful-thinking.

    "How High for Gold and Silver? Part II: Hyperinflation"
    Oct 20 01:36 PM | 1 Like Like |Link to Comment
  • QE2 Could Be Bullish for the Dollar [View article]
    This entire article is ultimately based upon a single premise:

    "Without a massive bond buying program, the linchpin of the dollar bear argument disappears."

    To anyone with the SLIGHTEST understanding of U.S. economic fundamentals (namely that the U.S. is hopelessly insolvent), this statement is obviously utter nonsense.

    The whole REASON that the U.S. government has 0% interest rates and massive money-printing is BECAUSE the U.S. economy is so crippled with debt that only such extraordinary (and totally reckless) stimulus can coax even the FAINTEST signs of life in it.

    Finally, since there aren't NEARLY enough buyers for the $TRILLIONS in Treasuries being dumped onto the market each year, it is nothing but self-delusion to suggest that the Federal Reserve has a CHOICE as to whether monetize more debt.

    "U.S. Dollar is the new 'Tulip'"

    "Competitive Devaluation and Gold, or Gold and the Bond-Bubble(s)"
    Oct 19 01:31 PM | 5 Likes Like |Link to Comment
  • How High for Gold and Silver? Part II: Hyperinflation [View instapost]
    Uhuh, you're certainly correct with your historical summation - with one exception.

    Previous policies were "inflationary", rather than "hyperinflationary" (as are today's policies). While you're right in saying that IN GENERAL TERMS the activities are the same, what is totally different is the MOUNTAIN of accumulated debt.

    This is all just arithmetic. Debt is the most-obvious "drag" on any every economy. The larger the debt-accumulation, the more "stimulus" that it needed to force-out growth. It's now IMPOSSIBLE for the U.S. economy to EVER generate economic growth again without hyperinflationary money-printing (at least not until after default occurs).

    This is why hyperinflation is all-but-inevitable. These clowns only know of one way to run economies: print and spend - and ABUSING that power by propping-up dying industries, rather than allowing capital to flow into PRODUCTIVE uses.
    Oct 19 11:19 AM | Likes Like |Link to Comment
  • John Hussman on the Fake Recovery [View article]
    "Two thumbs up" for a great analysis and chronology. This REALLY paints a clear picture - for readers of all levels of sophistication.

    The only point I would add to this would be to explain WHY "Helicopter Ben" is so fearful of the "helicopter drop" he promised long ago.

    With the Fed and the bankster doing little more than swapping cash and financial products between themselves, the hyperinflationary aspects of Fed policy have been HIDDEN by this sequestering of capital.

    Conversely, a true helicopter-drop would IMMEDIATELY lead to runaway inflation - especially in the all-crucial commodities.

    The Fed has chosen to "strangle" the entire U.S. economy (except for the banks) to try to hide the hyperinflation it is breeding AND allow the banksters to be the ONLY beneficiaries of Fed policies.
    Oct 19 10:59 AM | 15 Likes Like |Link to Comment
  • The Mortgage Bond Scandal FAQ [View article]
    While the mortgage-BOND scandal is not the same thing as the mortgage-FORECLOSURE scandal, they are much more closely connected than just being "parallel".

    Even IF the banksters are telling the truth, and the MILLIONS of mortgages (and property titles) that have been infected with this fraud are merely negligent fraud (i.e. "errors") rather than "malicious fraud" - trying to LITERALLY steal peoples' homes, such fraud is ALREADY fatal for the mortgage-bond market.

    Among the clauses which the banksters "guaranteed" for investors in these fraud-bonds was that they would exercise prudence and due diligence in a) the original securitization b) subsequent record-keeping and "servicing" of these mortgages, and c) during any proceedings to repossess these properties.

    In fact, they never exercised either prudence or due diligence in ANY of these areas. This means (virtually automatically) that the banksters will have to take more than $1 TRILLION of such feces BACK onto their balance sheets...and sometime in the DISTANT future, when mark-to-fantasy ends in the U.S., the banksters will have to absorb that $1+ trillion in write-downs - LEVERAGED about 30:1 in the derivatives market.

    And that's only ONE facet of the resultant losses the banksters will suffer from all this mortgage-fraud.
    Oct 18 06:21 PM | 2 Likes Like |Link to Comment
  • Another Gold Bubble? [View article]
    I was focusing on the "it doesn't DO anything" part.

    Apparently perfectly preserving one's wealth from the monetary depravity of bankers AND allowing one to sleep soundly at night have no value in the world which Kitco lives in.
    Oct 18 05:30 PM | 4 Likes Like |Link to Comment
  • Another Gold Bubble? [View article]
    Congrats to the author for taking-aim at my own favorite targets: the anti-gold propagandists (who officially or unofficially serve the bankers).

    We have no further to look for the INSTITUTIONALIZED nature of this anti-gold propaganda than Kitco - and its primary mouthpiece: Jon Nadler.

    Here is a man who has been lead-spokesman for Kitco for I-don't-know-how-many years, during a TEN-YEAR bull market - and yet Nadler has NEVER said that "today" was a good day to buy gold (and remarkably has managed to keep his job).

    This is the persona known as "short-term bear, long-term bull" (or "a bear in bull's clothing"), where the speaker PRETENDS to be "bullish" (over the long-term) about gold - ALWAYS only in the long-term. Over the "short-term" (i.e. TODAY), these charlatans can always manage to fabricate some pretext as to why gold is "going lower".

    The other favorite technique of these bashers is to plant fear in the minds of readers (usually through clumsy rhetoric) and then ALWAYS ending with a "big scare" at the end.

    In that respect, meet the NEW "mouthpiece" for Kitco: Debbie Carlson. This "gold expert" whom Kitco just hired ended her own latest basher-piece with the line:

    “It’s a sad indictment of our (lives) that gold is more attractive than equities – when it doesn’t do anything.”

    Can anyone imagine a BUSINESS, which SPECIALIZES in bullion being so woefully ignorant about its own product that they would hire a person of this ilk as an "expert"?

    "More Kitco B.S."
    Oct 18 03:42 PM | 10 Likes Like |Link to Comment
  • How High for Gold and Silver? Part II: Hyperinflation [View instapost]
    Show off!
    Oct 18 03:22 PM | Likes Like |Link to Comment
  • Researching Gold/Silver Mining Companies III [View article]
    Pleased to announce that we are BACK UP !!
    Oct 15 07:33 PM | 1 Like Like |Link to Comment
  • Is $10,000 Gold Merely an Interim Projection? [View article]

    I've previously written about using a "corporate" model for our government - so it certainly IS possible to imagine a political system without "parties".

    However, I think you miss my point. The U.S. has a UNIQUELY corrupt form of 'democracy' in that BOTH political parties are PERPETUALLY in power - only the ratios change.

    I have never seen (in my own life) a political party which didn't become corrupted after a DECADE in power - and the U.S.'s two parties have been wallowing in their cesspool of power for more than TWO CENTURIES.

    The ultimate truth about politics and politicians is the ONLY thing which purges corruption is being thrown OUT of power - ALL the way out.

    The Republicans and Democrats are BOTH thoroughly rotten - and beyond any possible redemption. It's replace/abolish them, or SERVE them and their bankster-masters forever...
    Oct 15 07:32 PM | 2 Likes Like |Link to Comment