Archive - Oct 2013 - Blog entry

The only problem is that this entire “crisis” was a lie. The US actually hit its debt ceiling back in May 2013, a full five months ago.At that time neither the Treasury Department, nor the White House, nor Congress talked about this.

As we sit in our comfortable living rooms, loafing back into our sofas, munching on a bar of chocolate and slurping down the coffee whilst checking the smartphone for message most of us have little idea that the chocolate, the coffee and the smartphone were made by resorting to indirect slavery quite probably. 

Dispassionate discussion of some of the vexing issues.  

Banzai7 helps Banksy with a Bloomberg Gulp of political relevance...

The Chinese yuan has reached 20-year highs versus the U.S. dollar. It's a significant development with potentially huge ramifications for China and the world.

Overview of the price action in the fx market.

According to King, since losing its peg, Gold has risen 37.43 fold since 1967. That is more than twice the performance of the Dow over the same time period (18.45 fold). So much for the claim that stocks are a better investment than Gold long-term.

That's right, you heard what I said...Anti-Radiation Underwear!

But I never thought it wise to sell it, because for central banks this is a reserve of safety, it’s viewed by the country as such. In the case of non-dollar countries it gives you a value-protection against fluctuations against the dollar, so there are several reasons, risk diversification and so on.

The U.S. is engaged in fiscal and monetary policies that are akin to a Banana Republic.

In addition to electronically creating out of nothing $85 billion every month to buy its own debt in the form of bonds, the U.S. is also borrowing more money than it is authorized to borrow, from itself again.

Bonus: Did the Saudi Intelligence Chief and Other High-Ranking Officials Trade on Inside Information Regarding 9/11?

The Shit starts here...

IBM tried to come up with a panic-free explanation for the sudden collapse of hardware sales in China, but the Chinese government had warned of the coming fiasco in mid-August

A broad look at the political and economic consequences of the govt shutdown.

Yellen is yet another academic with no banking or business experience what-so-ever. This makes three in a row (Greenspan, Bernanke, and now Yellen). The results speak for themselves.