Jim Rickards: "Goldman Can Create Shorts Faster Than Europe Can Print Money"

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Mon, 05/10/2010 - 13:06 | 341526 Turd Ferguson
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Euro now under 1.28 as I type.

Might be a very interesting afternoon.

Mon, 05/10/2010 - 13:08 | 341534 MyFriendMises
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EUR/USD dropping like a rock. 

Mon, 05/10/2010 - 13:15 | 341555 ColonelCooper
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"EUR/USD is meaningless.  Look at the markets."


Harry Wanger

Mon, 05/10/2010 - 13:22 | 341567 earnyermoney
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So much for his prediction on capping the well head.

Time to boycott BP products.

Mon, 05/10/2010 - 14:23 | 341743 Oh regional Indian
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Off topic but critical...

Urgent: Deepwater Horizon Spill Solution

Hi Everyone. Please see:


This is me and I have a “Eureka” moment breakthrough to help solve the Deepwater Horizon crisis.

Please publicize this URL widely. E-mail it to your contact lists, send it to your senators, appropriate contacts in media, post it on other blogs like oil drum where you might be a member, industry contacts etc. Time is of essence and the solution is awesome.

If Tyler or Marla see this, they can mail it to higher contacts in media or put it somewhere on the site. I’d even pay for a prominent ad spot for the day if needed.

I’m getting it out on as many outlets as possible.

I know there are folks here from the industry or tangentially or historically connected with it. Please don’t e-mail me for details at this point, will take too much time to respond.

If you’ve read any of my comments, you know I’m sane. Right? ;-)

It’s real and needs to get seen/heard at the highest/right places.

Thanks in advance.


Mon, 05/10/2010 - 16:37 | 342028 chunkylover42
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are you going to post this in every thread on this site?  i'm sure your idea is great, so just call the fucking company or government and get on with it.  i'm not sure what you expect people here to do about it.

Mon, 05/10/2010 - 23:56 | 342779 Fish Gone Bad
Fish Gone Bad's picture

Not to be outdone by Soros, GS is going to pants Europe!

Tue, 05/11/2010 - 05:50 | 342988 tonyw
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If you are genuinely concerned just post the general details so it can be reviewed, otherwise STFU.



Mon, 05/10/2010 - 13:27 | 341579 Temporalist
Temporalist's picture

Please don't say his name to many times he may reappear like Beetlejuice.

Mon, 05/10/2010 - 13:28 | 341582 MyFriendMises
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lol + 1000

Mon, 05/10/2010 - 13:30 | 341592 Spastica Rex
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I dare hime to come back:

Wanger Wanger Wanger



Tue, 05/17/2011 - 02:05 | 1282121 Karston1234
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Thanks a lot for sharing such an valuable stuff.
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Mon, 05/10/2010 - 13:06 | 341530 ElCapitanNemo
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“Gold Is Money, and Nothing Else.“
- JP Morgan, testifying under oath to Congress before the Pujo Commission, 1913

"Banking was conceived in iniquity and born in sin. The Bankers own the earth. Take it away from them, but leave them the power to create deposits, and with the flick of the pen they will create enough deposits to buy it back again. However, take away that power, and all the great fortunes like mine will disappear — as they ought to in order to make this a happier and better world to live in. But, if you wish to remain the slaves of Bankers and pay the cost of your own slavery, then let them continue to create deposits.”

 Sir Josiah Stamp (1880-1941), one time governor of the Bank of England, in his Commencement Address at the University of Texas in 1927. Reportedly he was the second wealthiest individual in Britain.

Mobilis In Mobili -Nemo

Mon, 05/10/2010 - 14:23 | 341746 mephisto
mephisto's picture

+1, appreciate the quotes.

Mon, 05/10/2010 - 13:11 | 341545 Cleanclog
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To fix the problem of too much debt that looks to be on an inadequately serviceable trajectory . . . throw more debt at it.  Brilliant.  Kick the can until when?

These countries need to restructure (yes, default).  It is not the end of the world and the sooner the better.  They've all done it before.  Yes, I know it puts the future of the EU in question.  But putting it off for 3 years actually increases the likelihood.

Or is it really all about saving the banks, yet again?

Mon, 05/10/2010 - 13:52 | 341650 Sancho Ponzi
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The EU was officially created to facilitate the free flow of people and commerce between members, and unofficially created to allow a small ruling elite to control a nice chunk of the industrialized world. You didn't think TPTB would relinquish some of their power so Greece and a few other misfits could break from the EU in order to default and/or devalue their own sovereign currencies, did you?

They've got carbon credits to skim, cash transactions to outlaw, direct taxation transfer payments to implement, taxpayers to fleece, and pensions and precious metals to confiscate. So many ways to screw the middle class, so little time. 


Mon, 05/10/2010 - 13:13 | 341546 Cognitive Dissonance
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I was in my bedroom tying my tie when Mr. Rickards uttered those wonderful words. I was transfixed, waiting for a giant hook to come from stage right and yank him off the air. Even "Morning Joe" didn't seem to really understand what Rickards was saying.

When it was over and I looked in the bedroom mirror to check my appearance before leaving, I saw that I had tied a triple Windsor knot and the end of the tie was only 4 inches from the knot. Whoops! My first belly laugh of the day.

Mon, 05/10/2010 - 13:47 | 341642 Steaming_Wookie_Doo
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At least you didn't give yourself an "Alcatraz Ascot" while listening to this

Mon, 05/10/2010 - 13:14 | 341551 naiverealist
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Mr. Rickerts, excellent comment from an esteemed person.  Honesty and Gravitas?

Mon, 05/10/2010 - 13:17 | 341558 Hondo
Hondo's picture

Goldman would still have to find the sucker to take the other side of the bet.........it could be the ECB itself........

Mon, 05/10/2010 - 13:31 | 341597 hack3434
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Best and Brightest

Mon, 05/10/2010 - 13:45 | 341634 mephisto
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Mon, 05/10/2010 - 13:46 | 341638 the grateful un...
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Can you say 'Naked'?

Mon, 05/10/2010 - 13:24 | 341571 Cheeky Bastard
Cheeky Bastard's picture

The earlier article basically said it all; 100% profitable trading days. 

Listen, and understand!  GS cohorts are out there! They can't be bargained with. They can't be reasoned with. They do not feel pity, or remorse, or fear. And they, the Cohorts of Lord Blankfein absolutely will not stop, ever, until you are dead.

Mon, 05/10/2010 - 13:46 | 341636 the grateful un...
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Remember its not in the interest of the parasite to kill the host organism. Goldman is the rentier class, but they pull the levers for Fed/Treasury, such a small thing really, demanding  a fair kickback out of Greece, where the ratings agencies put the bid under those austerity bonds. In turn the EU picks up the bill. We can bleed everybody dry, is this a great country or what?

Mon, 05/10/2010 - 13:50 | 341645 Steaming_Wookie_Doo
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I think the parasite has figured out this beast is on its last legs. Better to gorge now, lay 200,000 eggs and find another victim passing by shortly.

Mon, 05/10/2010 - 14:04 | 341684 the grateful un...
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oh and i love Zoiberg. this is like a guy laying in the street bleeding and the vampires licking the blood off the pavement.

Mon, 05/10/2010 - 13:29 | 341574 THE DORK OF CORK
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Enough - if Europe believes its own Bullshit there is only one option.

Put up the capital walls and keep the barbarians out.

A trading bloc without external boundaries is not a trading bloc but a collection of vassal states.

The Anglo Saxon economies can create money without savings and force their only western rival to respect the rules that they created and force it to print money.

Will it allow New York and London to drag the west into the mire once again ?



Mon, 05/10/2010 - 13:26 | 341576 Temporalist
Temporalist's picture

Jim Rickards should have his own financial channel.


Maybe it can be channel 5000...for $5000 Au.

Mon, 05/10/2010 - 14:23 | 341748 Gold...Bitches
Gold...Bitches's picture

maybe it can be real interviews with actually important insightful questions instead of just the usual CNBC starfucking.

Mon, 05/10/2010 - 13:29 | 341583 Cheeky Bastard
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Mark Heines: We are up 400 points, whats wrong with you people, shut up!!

Cheeky Bastard [in response to the above statement]: I will eat your heart and sell your women to slavery, slaughter all your horses and poison your 5th avenue lands.

Mon, 05/10/2010 - 13:54 | 341654 Menelaus
Menelaus's picture

"Conan, what is best in life?"

Conan - "To crush your enemies, have them driven before you as slaves, and to hear the lamentations of the women."

Mon, 05/10/2010 - 23:59 | 342782 Fish Gone Bad
Fish Gone Bad's picture

Pete (from Big Island Snake House): It is not so important that I win, but that I am the only winner, and that everyone else is a loser.

Mon, 05/10/2010 - 13:31 | 341586 BlackBeard
BlackBeard's picture

 Did Joe just squeal like a bitch?

Mon, 05/10/2010 - 14:24 | 341751 Gold...Bitches
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Yes, he did

Mon, 05/10/2010 - 16:43 | 342039 Sespian
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He wanted them to "shut up!" because they were distracting him while he clicked his red heels together chanting "there's no place like home, there's no place like home!"

Mon, 05/10/2010 - 13:32 | 341599 Traianus Augustus
Traianus Augustus's picture

Does GS -

1. plunder the individual countries one at a time

2. plunder all EU countries together via USD/EUR

3. plunder both while declaring "The devil made me do it"

Mon, 05/10/2010 - 13:53 | 341651 King_of_simpletons
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"The devil made me do it"


Doing god's work.....

Mon, 05/10/2010 - 13:37 | 341609 CookieMonster
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Yes, and now we know the mechanizm of control towards that elitist state of nirvana, "one-world governance". It is all PLANNED.....

Mon, 05/10/2010 - 13:44 | 341625 Raymond K Hassel
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Its a very good question - who is the remaining counterparty necessary for these synthetic bets to come into existance? 

Mon, 05/10/2010 - 14:01 | 341673 the grateful un...
the grateful unemployed's picture

A holds B's dollars and A wants his own dollars back, because B has nothing for him to buy. He goes to B and says, I want you to exchange these B dollars for my own A dollars, you go out in the market and get me enough A dollars to complete the transaction. (B has to repatriot his dollars back into A dollars). This is fundamentally different than A redeeming Treasury Bonds which B sold him, because B would simply pay A in B dollars, which just kicks the can down the road.

Governments are willing to do this, ad infinitum, but it is private investors who hold the real dollars, and once some group, with enough capital starts the ball rolling it can't be stopped. Then of course you set up some hedges, which leverage the position you are pressing.


Mon, 05/10/2010 - 14:20 | 341733 Raymond K Hassel
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But if A retains a GS to 'help' him get A dollars back, A is enabling the WMD that is focused on destroying that with which he will be left with at the end of the day.  Its one thing a few years back, when the mechanism was not clearly visible, but its the very definition of insanity to do it again now - maybe I just answered my own question. 

Mon, 05/17/2010 - 20:36 | 357361 noguess
noguess's picture

Dear Raymond and others,

How naive are you?

They are there own counterparty!!

It is all orchestrated.

They have  enough funds of their own, both onshore and offshore, and manage incredible offshore funds. Left hand doing business with the right hand, and we the people are so naive and dumb we think it is a real market.

It's all about power and money.

Mon, 05/10/2010 - 13:59 | 341657 doggings
doggings's picture

Does GS -

1. plunder the individual countries one at a time

2. plunder all EU countries together via USD/EUR

3. plunder both while declaring "The devil made me do it"

3. is definitely wrong, "it is god's work" remember? .edit, bugger, beaten to it, ...must type faster
Mon, 05/10/2010 - 14:00 | 341670 John McCloy
John McCloy's picture

Keep in mind the oil volcano is currently acting like a reverse printing press. Think of it is a currency cookie monster. Unemployment is going higher.

Mon, 05/10/2010 - 14:01 | 341674 Au Member
Mon, 05/10/2010 - 14:08 | 341700 THE DORK OF CORK
THE DORK OF CORK's picture

Yes she has a fantastic body of work.......

Tue, 05/11/2010 - 00:07 | 342790 Fish Gone Bad
Fish Gone Bad's picture

Janet is smokin' hot.

Mon, 05/10/2010 - 14:02 | 341681 bugs_
bugs_'s picture

Could Goldman be right this time?

Mon, 05/10/2010 - 14:06 | 341693 glenlloyd
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Rickards presents his view rationally and coherently, and that's part of the reason why he's respected. He has command of his faculties and it's so much more difficult to undermine the message.

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