Guest Post: The End Of The Beginning

Tyler Durden's picture

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putbuyer's picture

Lubidicus fuckedus. Itus isus badus.

Bought my rural forest land in NH. With ZH's main story tonight, I just

think we will see the shit storm coming sooner rather that later. Heard

Jim Rogers latest, and glad to be in my cabin shortly.

Only the Gettysburg Address gets me through daily.

bulldung's picture

+1000 for ALincoln, I always enjoy those words.Thanks

chalcedonite's picture

John Wycliffe, in the preface of his 1382 translation of the bible, said "the Bible is the government of the people, by the people, for the people."

Even AL was a thug.

Wycliffe is known as the morning star of the reformation.  He was hated by the elite of his day...

In 1384, Wycliffe suffered from his second or third stroke and went to be with his Lord. Death did not silence his influence, however. In fact, he had caused such disturbance in the minds and hearts of those who most hated him, that thirty years after his departure, he was officially condemned by the church for a second time. Instructions were given for his bones to be dug up and burnt as well as his writings, and finally, his ashes thrown into the river. Throwing his ashes into the river turned out to be quite an ironic act, as William Wordsworth explains in his poem on the subject:

Wycliffe is disinhumed
Yea his dry bones to ashes are consumed
And flung into the brook which travels near
[.]Into the Avon-Avon to the[.]
main ocean they- this deed accursed
An emblem yields to friends and enemies
How the bold Teacher's Doctrine sanctified
By truth, shall throughout the world dispersed.

SNAFU's picture

Thank you, friend.  Didnt know Wycliffe penned that phrase.  Gods Word contains the most high virtue in existence.  A supernatural type that the world doesnt appreciate.  It is said that Lincoln accepted Jesus Christ as his Saviour after Gettysburg.  As evidence I submit his address at the battleground.  Those are not the words of a railroad lawyer.  They reveal an intelligence beyond human.

Crime of the Century's picture

Thanks for the link, I was unaware of that reference site. In many ways similar to today, a complex and unknowable paradigm was used as a controlling force over the people. Back then it was the Vulgate, decrees issued and justified in a tongue not native to the recipients. Today, in the secular world, people again find themselves controlled by devices they can't understand.

Wycliffe painstakingly transcribed the Scriptures and demystified the intent, thereby removing the "boogedy boogedy" factor that had been wielded by man like a cudgel. In a quite opposite yet similar way, has Tyler et al removed the mask from these modern day controllers, boiling down exotic and complex financial innovation to its requisite components - fraud and greed. Once the truth is exposed, fear is allayed, and an enlightened people can reorganize their principles.

hedgeless_horseman's picture

Once the truth is exposed, fear is allayed, and an enlightened people can reorganize their principles.

Reorganize one's financial principles by simplification and localization.  To those who understand the value of eating locally produced items, I offer the financial concept of disintermediation, which is the removal of the intermediary, or middleman.  Even more simply put, disintermediation is to take the banker out of the equation.

Invest you capital directly in your family's or neighbor's endeavours, and similarly seek capital from the same. 



Alienated Serf's picture

+1000 for rural NH.  Live free or die bitchez!

nevadan's picture

Now this seems like good news........

Finally, in a move that shown real signs of incipient panic, the US Federal Reserve Bank appears to
have reopened USD swap lines to ECB, last used in March 2009 to calm a global financial meltdown.
Last time they swaped around $600 billion. This move gives the ECB the power to lend USD in
Europe, and would only be re-instated if conditions were indeed deteriorating.

Howard_Beale's picture

Latest from the Zazzle Store in tribute to an idea by Miles Kendig from a scene in the movie IT's A MAD MAD MAD MAD WORLD!

Larry Summers and Timmay in Drag, Ben driving the car. Just a mug so far.

Other items to be posted shortly--without captions. Check out the bumper sticker so you can see the whole image.


Problem Is's picture

Classic Mug, Howard....
In more ways than one. Geithner makes a damn ugly woman... even by prison standards...

That mug is guaranteed to make you gag on your coffee...

Miles Kendig's picture

Thanx.  Ethel Merman and Larry Summers seemed to be the natural to me, but Ben Bernanke as Milton Berle is simply priceless..... and timmay will always be Timmay.. chiffon or not.  Thanx Howard

Mako's picture

Cool. Good ole catfight.  I have to admit this is entertaining at the end of the cycle, well until people get liquidate it's fun.

"As I've stated several times before, I found out exactly how little Goldman Sachs cared for their clients when OffshoreAlert exposed a Goldman Sachs-sponsored criminal enterprise called Stirling Cooke Brown Holdings, which went on to commit a $1 billion insurance/reinsurance fraud and a $50 million securities fraud."

"The architect of this scandal was Reuben Jeffery III, a Goldman Sachs managing director who later went on to become Chairman of the Commodity Futures Trading Commission."

"It is remarkable that someone who was either knowingly involved in a massive fraud or, alternatively, could not spot it when it was right in front of his face could be deemed suitable to be a top regulator," says Marchant. "What confidence can investors have in the financial system when someone who has played a leading role in a major scandal is appointed to such a lofty position, apparently because of his political connections rather than his ability to regulate? No wonder the financial industry is in such a mess."

Salinger's picture

Wondering why the reporting on the Gulf Oil Spill crisis is getting sparse coverage from the MSM?


2010 White House Correspondents' Dinner


I was curious what the S in MSM stood for.  The answer is SCUM

putbuyer's picture

Caller was on platform when exploded. A must listen. About 1 third in on audio. WOW! very compelling.

doolittlegeorge's picture

And Harry Markopolis predictus this messus but when explained to SEC-us they said goess srewess your selfess.

drwells's picture

Anyone know who this guy works for? I want to read more of his stuff but google turns up nothing, nor is there any info in the pdf that I can see. Thanks!

sushi's picture

Second your request as I would also enjoy reading more by this author.

I found the following observations of interest:


1) The reopening of the swap line following a Washington conference attended by all the players. TD reported this as well. My hunch is that the  decision has already made to see Greece withdraw from euro and restructure debt; the case for doing so is compelling. Engaging Lazard may also reflect such a decision. It must be clear to all concerned that the Greek polity will not accept the IMF terms; how do you ensure social order if the various enforcement arms of the state are exactly those who will lose significant pay and benefits? Under this scenario TPTB have met, have concluded that a Greek departure from euro and a debt re-structuring are required and they are quietly putting the needed elements in place to facilitate this.

2) Second observation derives from the writer's observation that the DM would end up as the worlds strongest currency. This is precisely what Germany has sought to avoid. Subsequent to the Washington meeting Merkel appeared to change her tune and appear to move to support Greece despite the fact this might injure her in the coming May 9th election. I think she took this action because it finally dawned on her that in the end game the likely outcome is a redefined euro area keyed off the DM.

bulldung's picture

LIBOR is more readily available in real time, why not follow it instead of PIIGS spreads as indicator of the contagion ?

Cheeky Bastard's picture

It could only be Chumbawamba. No ifs, ands or buts.

Chumba you slick motherfucker.

Miles Kendig's picture

CB - Chumba was the guy that left last week...

Chumba You slick motherfucker

Rider's picture

So... this is bullish for US stocks, right?

Hell yeah... all news are good for stocks!!


Buy Buy Buy!!!


Grand Supercycle's picture


DOW chart shows an expanding wedge indicating a significant move is probable.


CEOoftheSOFA's picture

A Stimulus Story


It is the month of August, on the shores of the Aegean.  It’s raining and the town of Obamacropolis looks totally deserted.  It is tough times, everybody is in debt, and everybody lives on credit.  


Suddenly a rich tourist comes to town.  He enters the only hotel and lays a 100 Euro note on the reception counter as a deposit and goes upstairs to inspect the rooms in order to pick one.  


The hotel proprietor takes the 100 Euro note and runs to pay his debt to the butcher.  The butcher takes this 100 Euro note and runs to the pig farmer to pay his debt.


The pig farmer takes the 100 Euro note and runs to pay his debt to his supplier of feed and fuel.  The supplier of feed and fuel takes the 100 Euro note and runs to pay his debt to the town’s prostitute who has been forced to accept credit in these tough times.


The hooker runs to the hotel to pay off her debt with the 100 Euro note, to pay for the rooms she rented to entertain clients.  The hotel proprietor leaves the 100 Euro note on the counter where the rich tourist left it. 


The rich tourist comes down and says, Mama Mia, I did not like any of the rooms.  He takes his 100 Euro note off the counter and leaves the hotel. 


No one earned anything, however the entire town is now debt-free and looks toward the future with optimism. 


This is how Europe and the United States plan to get out of debt.


In addition, the United States would count these transactions as a $600 addition to the GDP. 



hooligan2009's picture

nice try CEOSOFA, and a good time to roll out an old chestnut! Methinks I spy a few faults in your logic though, though I agree that you have encapsulated the bail-out logic quite well. The first is that each person merely cancelled out, with the repo'ed 100 euro bill, there existing financial balance sheet, which started off at zero (-100 debts and +100 assets) and ended up at zero(no debts or assets) all the 100 euro did was facilitate the money transmission mechanism. Do you think that the butcher, the hotel owner, the feed merchant and the hooker will do anything different in future? Where was the tax paid to fund the hookers child, the cleaning staff of the hotel, etc. But anyway a timely reminder!

Miramanee's picture

RE: Doomer feeding frenzy

I understand the people who read ZH and other such sites seem to thrive on the doomer feedback loop. One good hand-wringing begets another. The REALITY does not conform to the doomer creed, however.

YES, I believe that FIAT currency in its current form will falter. YES, I believe that chaos and social dislocation will spread throughout the Eurozone. I wouldn't be surprised to see a bif ole war on the continent either, as fiscal Balkanization spreads over the next decade or two.

BUT...the most powerful nations in the world, and the most influential currencies in the world, are NOT on the verge of implosion. The U.S. dollar will not crash-and-burn until the American Taxpayer refuses to see the NEED for dollars as necessary to service his or her tax bills. And THAT is just not going to happen anytime soon.

RobertShaw's picture

I read the entire piece, and I did not find anything that said that the dollar was about to collapse.  OR the euro for that matter.  It said that the euro would weaken for awhile... (it already has and is still in the process of)... so I reject your strawman as well... made of straw.

JiangxiDad's picture

Worried about the doomer feedback loop as you call it,and how much it's influencing my opinions. Still not sure to be honest. A friend puts it this way: The fuse has been lit, but can't be sure how long it is, or how big the charge.

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