Read ‘U.S. Banking, Greenspan Commentary’ e-mailed today to the over 10,000 opt-in (for e-mail) Subscribers to StockResearchPortal.com, a Resource Stock Research website.  In part, the e-mail reads:

“An article today titled ‘Time to Relax Frannie’s Underwriting Criteria’ is a commentary on, and criticism of, a New York Times article that apparently was critical of government policies it claimed were less lenient than they should be – and that as a result potential ‘investors’ in, who would then become ‘renters of’, U.S. residential real estate are participating less in the current U.S. Housing market than they otherwise might.  I think the author of the ‘Time to Relax …’ article makes good points, and suggest you read it here – reading time 3 minutes.  I added the following comment to it:

Presumably those ‘investors’ with adequate income and capital to covenant new loans are able to borrow for whatever purpose they have in mind. Whether U.S. residential real estate is a good investment in this environment is, of course, another question altogether.

As I see it, one of the principal reasons the U.S. banking system is in the ‘jam’ is because it seemed from 1999 – 2008 to forget about (abandon may be the far better word) the importance of borrower income and underlying asset loan covenants. Why would now it make sense for U.S. banks to lower covenant requirements in the face of high unemployment, an uncertain consumer environment, and a loss in manufacturing jobs that aren’t very likely to return?

I am a strong believer that while the current U.S. Administration inherited a ‘complete economic mess’, its stimulus packages and administration of them has done two things:

· created false hope …….” continue reading

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Read ‘SPDR (‘GLD’) ETF v. Physical Gold’ e-mailed today to the over 10,000 opt-in (for e-mail) Subscribers to StockResearchPortal.com, a Resource Stock Research website.  In part, the e-mail reads:

“ I consider an article yesterday titled ‘The Seven Sins of GLD‘ written by Jeff Neilson to be a ‘must-read’ for anyone owning, or considering owning, SPDR (NYSE symbol GLD) Gold Shares as a proxy for physical gold, as contrasted to owning the physical metal or bullion coins directly.  If you take the time to read the article – reading time 10 minutes – I recommend you then ‘think for yourself carefully’ and form your own views and make your own decision as to whether ‘GLD’ or for that matter any other gold or silver ETF is ‘right for you’.

The article addresses seven concerns that Mr. Neilson has with respect to GLD, each discussed in detail under the headings:  (1) Lack of Transparency, (2) Damages, (3) Structure, (4) Fees, (5) ‘D-Day’ (apparently the sunset on guaranteed GLD fees is November 11, 2011), (6) Quality, and (7) Custodian.  I commented on the article as follows:

Hello Jeff: Again, an article well worth reading, and one I am going to briefly summarize and link to tomorrow in my www.stockresearchporta… morning e-mail.

I too have read the GLD prospectus carefully, and in fact have discussed both the trusteeship and gold holdings with the GLD marketing group in New York on at least two occasions. You may be aware there is a periodic independent audit of the physical gold in the Trustee’s vaults, and …….” continue reading

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Read ‘Hyperinflation – Must Read, Bullion/Shorting Alternative?, Why I Write These E-mails’ e-mailed today to the over 10,000 opt-in (for e-mail) Subscribers to StockResearchPortal.com, a Resource Stock Research website.  In part, the e-mail reads:

“Hyperinflation – Must Read

I strongly recommend you take the time to read ‘Hyperinflation, Part II: What It Will Look Like‘ – reading time 10 minutes.  I commented on this article this morning as follows:

Mr. Lira, I have found your article extremely interesting, and excellent ‘food for thought’. That said, I will greatly appreciate it if you take the time to reply to this comment. I am very interested in your views on how, if at all, you think the fact of the Chinese Government’s holding of massive amounts of its wealth in U.S. Treasuries and other U.S. debt will influence the likelihood of hyperinflation occurring in the U.S. I am of a mind that the U.S. is caught between a ‘rock and a hard place’ because of possible consequences to China of U.S.$ being significantly discounted pursuant to the U.S. directly or indirectly discounting its currency in order to bring an element of balance back to its cumulative debt – and its continued reliance on China and other countries to purchase its treasuries on an ongoing basis.

You might want to address this comment by writing a further article. In any event, thank you for this one, and please respond to this comment. For you information, I think this article ought to be read by anybody who has an interest in equities – and today I am sending a link to this article (along with this comment) to the approximate 10,000 ‘e-mail opt-in’ Subscribers to www.StockResearchPorta… – a website focused on Resource Stock Research.

Bullion/Shorting Alternative?

I added the following comment to a recent article written by Jeff Neilson titled ‘Bullion as an Alternative to Shorting, Part II‘ – you can read ‘Part I’ by clicking here.  I am not suggesting buying physical gold is an alternative to shorting, but suggest you read the article – reading time 10 minutes:

Jeff, you may recall that I wrote a longer comment on your last article – the one before Part I of this series. Once again, I think you have written in both Parts I and II of this series articles that provide readers with excellent ‘food for thought’ – which is the best …….” continue reading

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Read ‘BHP Billiton/The  Global Economy, Peter Schiff/ ‘Carts and Horses’, ‘Flations ’ e-mailed today to the over 10,000 opt-in (for e-mail) Subscribers to StockResearchPortal.com, a Resource Stock Research website.  In part, the e-mail reads:

“BHP Billiton on the  Global Economy

An article yesterday titled ‘3 Reasons Why The World’s Biggest Miner (BHP Billiton) Is Worried About The Global Economy‘ shows three charts on (respectively) austerity (i.e. Eurozone government expenditures/revenues – I say ‘shocking’), debt levels (U.S. borrowing by sector – broadly known but I think worth your time to review and think about), and near-term slowing of China’s economy (Money Supply (M1) and credit growth – very interesting).  Those with their ‘feet in the mud’ (people who actually operate businesses and whose ‘jobs are on the line’) in my view are people to be listened to and whose views ought to be considered carefully.  I suggest you review these three charts carefully – review time 2 minutes.

I strongly suggest (for the same ‘feet in the mud’ reason) that you take the time to read ‘BHP Sounds The Alarm On Global Growth and Commodity Prices‘ excerpted from BHP Billiton’s recent mid-year report – reading time – 3 minutes.

Peter Schiff on ‘Carts and Horses’

Well-known author and would-be politician (currently running for a U.S. Senate Seat in New York State) Peter Schiff wrote an article in Seeking Alpha yesterday titled ‘Robert Reich, Carts and Horses‘.  Mr. Reich is a former U.S. Labor Secretary who currently teaches at a California University.  I commented on Mr. Schiff’s article this morning as follows:

Although Mr. Schiff does not explicitly say that the U.S. Government ought not to take on additional debt to promote spending by those ‘not rich’, I think from this article that is his position. If it is, I agree with him. I do, however, think it unlikely …….” continue reading

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