Archive - 2011 - Blog entry

Capital controls are coming to Europe. What does that mean?

Time to start stocking up on those long term, OTM armageddon puts yet?

Just in time to make you feel better about holiday travels: airport security scanners that use X-rays are acknowledged to cause cancer. No problem in the US; but now they’re banned in the EU.

Police state violence ... move along, citizen ... don't look

We have been getting MAJOR warning signs of a collapse for months now. No less than the Bank of England, the IMF, and legendary asset management firm Franklin Templeton have warned that we are facing an epic, hellish crisis. We got the first taste of this in August when the S&P 500 literally wiped out a year's worth of gains in two weeks The only thing that brought us back from the brink at that time was the belief that the EU mess might be solvable and a coordinated intervention from the world Central Banks.

The more unequal countries are doing worse on all these kinds of social problems. It's an extraordinarily close correlation.

When was the last time a politician prevented a crash by causing his/her car to instantly freeze in mid-collision? Exactly! Expect the same amount of success with these multiple, financially engineered schemes to get around recognizing the only true solution - DEBT DESTRUCTION - and by the boat loads!

Not with breakfast you won't...

In October, the EFSF bailed out Proton Bank in Greece. Turns out, it had siphoned off $1 billion through criminal activity. Galling: the Bank of Greece knew of it before the bailout. And now, a bomb exploded...

This collapse will come in waves, and the CRE wave hasn't even started yet. When it does come, it will crash against the Sovereign defaults and rate storms to combine with a derivative malaise that will collapse much of the banking system. Ok, now for the bad news...

Adam Smith and the leading Austrian economists were FOR prosecution of fraud ...

If I win the bet, i will have lost big elsewhere. So will we all.

Time to rip the shit...put your waders on, this time the shit is deep...

Based on its debt maturation cycle I expect we’ll see an Italian default within the next six months. Indeed, no matter what happens with Greece, Italy will make sure that the EU in its current form no longer exists within the next year.

Like two children bickering over spilled ink... Listen fellas, there's only one way out of this, and that way is not through the ACME Print-O-Matic 2000 (Euro edition). It didn't work for Japan, it didn't work for the US, and it ain't gonna work for the EU!