Submitted by Tyler Durden on 01/26/2011 08:11 -0500
Saudi ArabiaTextron
Even as the situation in Tunisia continues deteriorating broadly, the country realizes that it needs its shiny assets back, and needs them fast, regardless of edibility or recent market corrections. As such it has just issued an international arrest warrant for deposed president Ben Ali. From the BBC: "Mr Chebbi said Mr Ben Ali should be tried for property theft and transferring foreign currency." We can't repeat enough: any dictatorial or Hewlett Packardian banana republic should make sure all of its gold is secure. In fact, since we are positive all of the gold, pardon, tungsten held at Ft. Knox is right there, it may be a good idea to put tracker beacons in the fake material. We are confident that sooner or later it will lead the broader population to not only the Textron vehicle used for one way transit, but to which non-extradition countries will soon be hosting our very own versions of the Tunisian President.
From the BBC:
Tunisia has issued an international arrest warrant for ousted President Zine al-Abidine Ben Ali and his family, the nation's justice minister has said.
Lazhar Karoui Chebbi said Tunisia had asked Interpol to detain Mr Ben Ali, who fled to Saudi Arabia earlier this month amid mass street protests.
Mr Chebbi said Mr Ben Ali should be tried for property theft and transferring foreign currency.
He was speaking as anti-government protests continued in the country.
In the capital Tunis, some of the protesters had apparently tried to breach barricades around the main government compound, and police responded by firing tear gas.
'Cleaning up'
Mr Chebbi said Mr Ben Ali and his family members were being being sought for "illegal acquisition" of assets and "illicit transfers of funds abroad.
The minister added that seven family members were currently in custody, but several more had fled abroad.
In a separate development, protesters in Tunis clashed with police outside the government building.
The demonstrators - mainly young men and teenagers - demanded the resignation of the interim government led by Prime Minister Mohammed Ghannouchi,.
The protesters said the cabinet was full of Mr Ben Ali's former allies, including Mr Ghannouchi.
"We have only one demand: for the government to fall. They all have to go. Ghannouchi should go first," protester Bassem El Barouni was quoted as saying by the AFP news agency.
Hamid El Gribi, another protester, said: "We have to clean up the rest of the old government."
Mr Ghannouchi has promised elections within six months, saying he will quit "in the shortest possible timeframe".
Wednesday, January 26, 2011
Marc Faber's Most Provocative Interview Ever: Compares Obama To A Prostitute, Goes Long Treasurys
Earlier, Marc Faber appeared on Bloomberg TV, in what may go down in history as his most scandalous interview ever. When asked, in advance of the SOTU address, what he thinks of the president, Faber, who appears to have had enough with all the bullshit, propaganda, and lies, replies: "I think he's done a horrible job and I think that will continue, I think he is a dishonest person, and nothing has changed... Some politicians are more honest than others. I don't think that I have a very high regard for politicians, I have a high regard for businessmen and for people who work, and not for people who abuse the system continuously. And in comparison to other politicians, I think he came in on a platform as a president that would want to change the government in Washington, and actually he's made it worse... We foreigners, we just laugh at someone like Mr. Obama. I was very critical of Mr. Bush, but at least he had one line and he stuck to that line, and at least he set out to do a thing and he was relatively straight on the thing that he did. He may have been wrong, but at least he didn't change his mind continuously, and didn't prostitute himself." If nothing else, how many other people do you know who will compare, in front of a live Bloomberg audience, the president of the formerly greatest country in the world to a whore?
As for what Faber thinks the real state of the union address should be, he says:
"I think what should happen in the US is for the president to tell the US, you have to tighten your belts. 'We have to go through hard times for 5 years to repair the damage that was committed over 20-25 years by the Federal Reserve, by the Treasury, by the politicians, and somebody has to tell the truth. But the politicians keep on fueling the illusion that you can spend yourself out of the misery, and that by printing money you will improve the economy, which is not the case."
On the topic of the Fed and relative performance:
You don't know. Maybe [Bernanke] will resign. After he sees the disaster he has created he may resign. Or he may be disposed, who knows. But all i want to say is in terms of investments we have a very interesting situation, because from the March lows, the EM universe has performed fantastically well, and industrial commodities have done fantastically well, and the US has underperformed everything. And now we have a change: the US may outperform, it may not go up, but may go down less than emerging markets.
On his latest opinion on Treasurys
In the long-run, for sure US Treasurys and most government bonds are a suicidal investment. But as a shorter-term timeframe, and I think for the next three months or so, I think we have a situation where stock markets have become very overbought, and emerging markets in January, most of them failed to make new highs above the November, December highs, and recently some of them have sold off very considerably, plus the Chinese market is giving you a signal that something is not right in the Chinese economy, because it is going down. For the next three months you have to shift out of the Emerging Markets, they may correct 20-30%, out of industrial commodities, on a relative basis. And I think the sentiment, just recently, was overly optimistic on the reflation trade, and overly negative about treasury bonds, so treasury bonds right now are oversold, and as of tonight I got the buy signal on US Treasurys. I think Treasury are the best place for the next 3 months, as is the US dollar. I think a correction is coming in the range of 10% in the S&P and 20-30% in the emerging markets.
On all the current batch of Davos participants:
I dont think the 'thinkers' are in Davos. I think it's a group of liars, and people that go along with the system, and perpetuate fraud and abuse, and dubious practices in the financial system.
As for what he thinks of Keynesianism, and gold, well, we'll just let you hear that for yourselves.
As for what Faber thinks the real state of the union address should be, he says:
"I think what should happen in the US is for the president to tell the US, you have to tighten your belts. 'We have to go through hard times for 5 years to repair the damage that was committed over 20-25 years by the Federal Reserve, by the Treasury, by the politicians, and somebody has to tell the truth. But the politicians keep on fueling the illusion that you can spend yourself out of the misery, and that by printing money you will improve the economy, which is not the case."
On the topic of the Fed and relative performance:
You don't know. Maybe [Bernanke] will resign. After he sees the disaster he has created he may resign. Or he may be disposed, who knows. But all i want to say is in terms of investments we have a very interesting situation, because from the March lows, the EM universe has performed fantastically well, and industrial commodities have done fantastically well, and the US has underperformed everything. And now we have a change: the US may outperform, it may not go up, but may go down less than emerging markets.
On his latest opinion on Treasurys
In the long-run, for sure US Treasurys and most government bonds are a suicidal investment. But as a shorter-term timeframe, and I think for the next three months or so, I think we have a situation where stock markets have become very overbought, and emerging markets in January, most of them failed to make new highs above the November, December highs, and recently some of them have sold off very considerably, plus the Chinese market is giving you a signal that something is not right in the Chinese economy, because it is going down. For the next three months you have to shift out of the Emerging Markets, they may correct 20-30%, out of industrial commodities, on a relative basis. And I think the sentiment, just recently, was overly optimistic on the reflation trade, and overly negative about treasury bonds, so treasury bonds right now are oversold, and as of tonight I got the buy signal on US Treasurys. I think Treasury are the best place for the next 3 months, as is the US dollar. I think a correction is coming in the range of 10% in the S&P and 20-30% in the emerging markets.
On all the current batch of Davos participants:
I dont think the 'thinkers' are in Davos. I think it's a group of liars, and people that go along with the system, and perpetuate fraud and abuse, and dubious practices in the financial system.
As for what he thinks of Keynesianism, and gold, well, we'll just let you hear that for yourselves.
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