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I'll say something that might be right: we are fucked.
I repeat: you are fucked! ( I'm covered with my pm's :) )
+10 Your so right again Sudden Debt. We, (the U.S.), are Japan. "We Are Japan", I say.
We have kept zombie banks, and financial companies, (Aig, PMI, Freddie and Fannie), alive too long.
The Morque, Godman Shafts and Shitty Bank are just that. A pile of crap that will destroy honest working people for many years.
The 'smart money' and punditry have gone over the edge....their first mistake was believing in their own hype, the second rule broken is 'never go full retard'. Theyre well past that now.
BYOFFA (food, fuel & ammo):
Bloomberg Article: U.S. Is Bankrupt and We Don't Even Know It: Laurence Kotlikoff
202 Trillion Dollars in the Red, Bitchez. Even if he's wrong by 50%, or 75% for that matter, it's all the same.Europe is just as broken, and Japan is well on its way. Say hello to the looming Chinese implosion, also. Bitchez.
What's that, Jean-Claude?
04-18 15:56: ECB's Trichet says all major nations understand imbalances must be adjusted
What's the difference between the debtor going bankrupt over $1 or $1 trillion, anyways?
(p.s. - Paul Krugman just called me and thanked me for the Bloomberg Article citing Kotlikoff, but said there is an easy solution; just print 202 trillion dollars right now and problem solved, he said. I hope he is correct. Thanks, Paul Krugman, for that cheery thought)
FYI - He prefers to be referred to as "The Trichet"
He is sooo envious of Bernanke. I don't get JCT. That's like a little leaguer idolizing Bob Uecker.
IBGYBG. Are you already gone?
Has anyone else had order problems with the US Mint on those America the Beautiful Quarters Silver Proofs?
They cancelled my order after several days (and the spot price went up) saying my billing address was wrong. I verified everthing was indeed correct and now they are saying need a couple days to see if a manager will approve my original order... Has anyone else had a problem with them?
You are for to be very helpful Tanzania Prince trust fund account $1,000,000,000 FRN grand prize winner!
Just tell the debt collector to fuck off! Who'd a thought of Iceland as a trendsetter? Post your best Bjork joke here.
You guys are fuked. PMs going down this week. Danger time!
PMs are going down? So suddenly the world will have a new found faith in fiat? Based on what, exactly?
How about this?
PMs are going to slowly trickle down in value because S&P is practically prop'ed up by the government and the only reason they "dare" to change their outlook is because the WH needs to let off some steam and channel the fact that they will *not* be able to inflate further. (ie. no more QE3, ready for a hike, pleasing China...)
Combined with China raising the reserves and Japan suffering from demand? It's a fair theory, and probably more right in the medium term.
Come on, look at Gold and Silver, they look like S&P prior to President's day (Feb 11th?).. a straight line... it's time for some correction. (Technical trading at least.)
The line will keep going up on a straight line. 600 is my target. Then I might sell and let other make more profits on my silver while I retire :)
I don't rule out corrections at any time in PMs, they are typically volatile. However technical corrections are not a call to bail on one's position unless it's a paper trade in which case it's just speculation anyway.
I just don't see how they won't do QE3 in some form, however. I don't think Obama really understands economics or necessarily cares about it, but he's going to get desperate to show some sort of improvement in the economy, and I think the call will come down to inflate into the 2012 elections to forestall the pain. It goes hand-in-hand with Bernank's Keynesian faith system, and provides the best opportunity for them to maintain power.
They will do QE3. It possibly won't be called that. The FED has a dual mandate.
1. Pay their bills with cheaper dollars. 2. Inflate assets they* hold. (*They includes CBs and Primary Dealers)
Congress now creates a real problem for them. With Pelosi and company in charge they could do direct payments to US citizens under a general aid program and monetize the offsetting expense just to keep the merry-go-round turning. But now that's off the table, so they have to get creative. Instead of just giving money to the bankers they are going to try to figure out how to finally dislodge the money supply and cram it into the market, and cause some wage inflation leading up to 2012. It'll be a hell of a hangover afterward, but the election will be done by then and Ben "I can stop inflation in 15 minutes" Bernanke can go about picking up the pieces, if he doesn't finally see the writing on the wall, pull his parachute cord, and decline to serve another term.
"...but the election will be done by then..."
'N what makes you think that the Bernank is gonna try to engineer any kind of Obama re-election?
I'm becoming convinced by the day that Bernanke wants to be seen as the Savior of the US in an economic World War and Bernanke believes that Obama isn't up to his part of the job. If true , we should see the economic/monetary reversal occur so that it can do the most damage to Obama. If Bernanke's the historian he claims to be, he knows the time to the minute when the collapse will be raging at its worse on election day.
There is no doubt that this is World War Politics. Is Bernanke playing the biggest game of Chicken ever played on the world stage?
based on the world's new-found love for all things US Treasury--and the Euro's sinking in the quicksand...
I'm not saying it will but one situation I could see would unfold like this:
1. Europe gets deeper and deeper into debt troubles.
2. The Fed doesn't go with QE3.
3. Everyone is looking for a "safe" haven and the dollar/US Treasuries become the lesser evil. This is especially so because the dollar is down so far at the moment.
The above could force some gold/silver players who are playing games, as opposed to just taking delivery to hold, to have to liquidate to cover margins especially if those players are also leveraged up against stocks and stocks take a beating.
The above is just one possibility. There are lots of others where gold and silver don't blink even once. But what I think the current situation indicates is that right now is a volatile time. I also think that even if the above scenario occurs that it would be short lived and money would move elsewhere fairly quickly afterwards.
I'm betting on this, and will be very quick to reverse (Treasury longs) after Risk-Off abates.
Is their something you'd like to share with the group?
PM holders are fucked. Watch the overnight action... It will start to get ugly this week. Would have been uglier today if not for S&P jokesters. The Cartlel are about to play maximum gladiator games with their flying monkeys. Turd will have monkey fangs deeply deposited in his jugular soon.
Now that you mention it, where is Turd?
He might have a point about The Cartel [banksters] pulling out their knives. In the long run, though, there isn't even the slightest indication the USG plans to start producing fiscal surpluses any time in the foreseeable future, which means the dollar is toast. So what happens this week is of little concern. They have precious little time to start producing fiscal suplusses. So I'm holding onto my little hoard of silver, and my big hoard of 7.62x51.
Will you promise me to come back at least once a week so I can make fun of you every week?
$44.98 EOW target will not be met, sudden debt. Cartel up to no good. Get out and re-start position lower if you must. The Cartel do have a plan, and it is not good for ZHers.
And the PM holders think they are immune from magical bot levitation?
What makes a paper holder of SLV much different from a LULU/NFLX/CMG holder? They think they know what they are doing.
Been hearing 'PM holders are fuked' ever since gold was $800.
Will you come back and apologize when silver hits $50?
Yes yes, please come back so we can make fun of you. I kinda miss the other trolls who were always wrong. It seems like every few dollars in silver another one hangs his head in shame and goes away never to return... Where are you spaulding? Where are you Johnny Bravo? :(
So unfortunate that we make fun of them and they aren't around to see...
damn....and here I was thinking only real estate could ever go down.
If PM's go down, it will be a great buying opportunity, maybe the last dip in prices for a while. BTFD...... Yours, Maverick
Youve posted this BS 10 times already today fuktard. Piss off.
Buy on the dip.....
Jump on the crash....
Look up for falling banksters....
The dip has not yet ended, dude.
Hope you're right - I need a better PM's entry point.
Global Jubilee will arrive soon?
Who would be the bagholders and the beneficiaries of such a 'biblical' event?
An additional possibility is a faux-dramatic reaction by the Fed's large equity accomplices to offset the S&P news; in other words, making it appear the potential equity downside of no more QE would be worse than an S&P downgrade, even if they had the guts to make one, which they probably don't, and likely never intend to.
So potentially we are merely witnessing grand financial theater. S&P plays a role by raising the specter of no more QE without making an actual downgrade. Moody's plays its cheerleading role as expected, a signal that no downgrade is really in the works. Large equity holders play their role to knee-jerk react dramatically to the S&P non-news and try to communicate that the bottom will fall out of the stock market if they don't continue QEasing. All in the end to raise the stakes that it doesn't matter what happens, QE must proceed, because the alternative would be worse.
But, I could be overanalyzing.
Pretty good. Maybe all of this is to gear up QE3+, but even then... PM will have to fall a bit, inflation is too high for big boss... China. So, maybe it is the same thing... but QE3 has to be "publicized"... and that is a observable event... if it is hidden then it is like a PPT for PMs, but I don't see that as visible (useful) as PPT for SPX...
Rumors that Chinese rage is unprecedented as politiboro scales back subsidizes during time of real inflation rate within China of 17%+ all over the asian 'black' sites. That would mean just food+energy are consuming close to 50% of Chinese average incomes.
The Chinese are very worried about unrest.
It also makes Asian demand for PMs nearly insatiable as a hedge against what is increasingly seen as an uncontrollable inflationary environment.
Not that I consider myself smart money, I'm just here to protect my pension from the complete muppets who run most of the pension funds. (No really, who pays these idiots? And why?) I'm pretty much out till the end of June.
Still got some PMs, but sorry gold bugs, they are also getting chucked overboard the moment the Fed says "tightening". Or rather, "no more OMO", which is the same thing.
gold is still moving to stronger hands, as is silver. you're certainly free to sell yours to the banksters for greenstamps any time or price you choose.
if you measure wealth in ounces, you would make a different decision, perhaps regarding some "word" from the FED.
don't be a muppet, ok?
If CSS1971 sells his gold the first time the FED says no more POMO or QE or whatever, I might be in the market....
As you noticed, wealth moves from weaker hands to stronger ones as circumstances degrade. This explains why most folks don't retire rich, or early.
I keep some cash to pay present bills and obligations, but the savings are in PM's, which Ben&Timmy can't degrade at Obama's command.
Don't get me wrong.
I expect a substantial "dip" in everything, @ or near June as the realisation hits that up is no longer a sure thing.
I'll reallocate to PMs when the smoke clears unless the BOE (or FED) kicks up the base rate a few percent and deliberately causes a recession.
good thing holders of US debt are still happy as pigs in shit, eh?
PIIGS+UK+RestOfEurope+US+Japan in shit.
Still working on catchy acronym.
Might be easier to come up with an acronym that describes who they aren't.
well, TIS, you start with: PIIGS+UK+RestOfEurope which = PURE, so how about puro shitto?
what's that smell? puro shitto!
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