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European Monetization Begins: Sources Report Central Banks Have Started Buying Government Bonds
And so we get one step closer to the end. Look for bond yields in Europe, and especially the Bund, to roll over and accelerate to infinity as investors realize what monetary prudence capitulation is. Amusingly, the KomIntern won - comrades Lenin, Stalin, Marx, Engels, and all others who grace the dark pages of US historybooks, would have been celebrating if only they were alive today: May 9, in addition to "victory over fascism" day, is now also "victory over capitalism and free markets day." Rejoice comrades!
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Tyler - if a bank holiday is declared, is that a sign that our Keynesian experiment is over?
And if THAT happens...are we looking forward to new currencies?
I still think it's a bit soon for that...?
Non-freely convertible currencies, Demand destruction.. on top of terrorism. We could split into tribes.. algae-oil extraction, dissolving tyres to form edible pruteen goo, bamboo-housing, island v. brave new world.
euro up, gold down
lol
At this point, Ben Bernanke must be thinking he's the Keeanu Rivers character in Speed, where he's on a bus that can't be slowed down or else it'll blow up, but he can't keep going forever because eventually the bus will run out of fuel...at which point it'll blow up. Until he has an epiphany: "I'm gonna speed it up!"
And so the bus zooms off. Destination: hyperinflation.
I am Chumbawamba.
This world no longer offers me much to be happy about. I now take my daughter on walks to the park, just to visually illustrate the distinction between our hapless species and that of the ants.
I think I'll tell my wife again tonight how happy I am that she's a Pacific Islander with another passport and some land in a far-flung place. Now, I just have to get there. And yes, the land is on high ground with a great view.
Maybe not a bad time to buy one of these Greek bonds yielding 20%?
Only if you like participation in bubbles.
There is no way to know when this one wil pop. Greece will squander every penny of their bailout long before three years have past.
Markets are sky rocketing. When there are ashes all around gold and silver will be your masters.
Capitalism and free markets are mutually exclusive concepts.
heh...someone's read their Marx.
"Capital is dead labour, which, vampire-like, lives only by sucking living labour, and lives the more, the more labour it sucks."
"The need of a constantly expanding market for its products chases the bourgeoisie over the whole surface of the globe. It must nestle everywhere, settle everywhere, establish connections everywhere."
Gold Bitches!!!
(copyright Chumbawumba)