My forecast: February 2011

Tuesday, February 22, 2011

Korean Bank Run Spreading: Eighth Bank Closes Following "Massive Withdrawals"

The quietest bank run that has so far completely evaded mainstream attention, that of Korea, is spreading, and an eighth bank has now shuttered after "Domin Bank, a savings bank with a capital adequacy ratio below 5 percent, voluntarily decided yesterday to suspend its operations temporarily because of massive withdrawals." As JoongAng reports: "The decision took both depositors and financial regulators by surprise since it was the first time that a local bank shut its doors on its own." Apparently the courageous decision by the Financial Services Chairman Kim Seok-dong to deposit $17,864 in a troubled bank has not done much if anything to prevent the locals from realizing that their banking system is built on a house of cards.

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Monday, February 21, 2011

Jim Rogers Holding more Dollar

I think because the correlation show when Stock market down and USD index goes up.

Major Inversion In GBP-JPY Correlation

After trading in nearly perfect unison and with an R2 of about 0.8 for over half a year, in the last week the speculative pattern in the GBP-JPY correlation had a dramatic breakdown. Whether this is due to expectations that the BOE will have to hike rates to deal with 4% inflation, or continuing massive quant deleveraging behind the scenes of residual positions as traditional factors now blow up daily in the faces of quants, is unclear. What is clear is that suddenly one of the more long-lived spec FX correlations has whipsawed to the point where it has left many FX traders nursing critical wounds.

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CALENDAR

Tuesday, February 15, 2011

World Wide Riots and Protest

'A weapon of mass destruction was found in the U.S.': Shock confession of Customs officer

Concern over a secret WMD bust came after U.S. cables made public by the
A port official has admitted that a 'weapon of mass effect' has been found by 'partner agencies' in the U.S., raising major questions over a possible government cover-up.

The disturbing revelation came in an interview with San Diego's assistant port director screened by a television channel in the city.

The Customs and Border Protection Department tried to dampen speculation over his remarks, but doubts remained over whether he had inadvertently revealed a dirty bomb plot to attack the U.S. mainland.

Wikileaks whistleblower website revealed terror groups were plotting a 'nuclear 911.'
In the interview screened by San Diego’s 10News, Al Hallor, assistant San Diego port director, said ‘weapons of mass effect’ had been found, although he did not specify exactly where or what they were.
Reporter Mitch Blacher asked Mr Hallor: ‘Do you ever find things that are dangerous like a chemical agent or a weaponised device?’
‘At the airport, seaport, at our port of entry we have not this past fiscal year, but our partner agencies have found those things,’ the customs official replied.

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Hunger Map 2011

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FIRST X-FLARE OF THE NEW SOLAR CYCLE

Earth-orbiting satellites have detected the strongest solar flare in more than four years. At 0156 UT on Feb. 15th, giant sunspot 1158 unleashed an X2-class eruption. X-flares are the strongest type of x-ray flare, and this is the first such eruption of new Solar Cycle 24. The explosion that produced the flare also sent a solar tsunami rippling through the sun's atmosphere and, more importantly, hurled a coronal mass ejection toward Earth. This raises the possibility of geomagnetic storms in the days ahead.