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I like stimilus
Stimilus? Do you teach spelling in some USA grade school?
Good stuff Mike, appreciated as always
I'll bet you read every word too.
gorged? Slow down, dude. It's "gored," surely.
Perhaps he's thinking of the Gorge at George concerts in WA.
look at her learn to rope and ride
that bull doesn't look very happy does it...
Who - in our socio-financial power battle - does the bull symbolize?
"Whenever anyone one claims they need to do something for the “general welfare” run the other way as far and as fast as humanly possible. That is the line of every tyrant and wanna be dictator."
Well, never the less, I claim that the general wellfare would be well served by anyone who kills the financial and all other bull markets before they kill themselves. Have mercy on the bulls; euthenasia and assasinations now, please - if not for any other reason than to fulfill the subconscious desire of the US masses, who gobble up Hollywood assasination flicks 24/7.
Wanna rule the world? Bomb Wall Street! Life is just like a computer game - from Microsoft or Sony or some other mafia-scam, tax-evading corporation - ONLY BETTER; REAL BLOOD.
Who doesn't like to get stimulated?
Speaking of spelling, I think Mike meant gored not "gorged."
The Great Deleveraging is going to roll in like a tsunami, and regardless of inflation, stagflation, deflation or hyper any of those, the result will be an Economic Depression.
Actually, some quite bright people (whether they're early or wrong, time will tell) have made the claim that the first waves have begun to roll in upon the coastline.
Real unemployment now >20%. That IS a depression. What's coming, they'll have to invent a new name for.
I'm not going down with the ship. Nope, I ain't going. Sing along.
'I am 100% positive...'
The picture cracked me up. For next year, Spain should announce no medical attention to bull runners due to austerity. Perhaps this would cause participants to conclude tormenting a wild animal and then running away in the name of fun is dangerous?
Nah, it takes intelligence to work that one out...
Sherlock : Economy moving in the wrong direction ahaahahaahaahahahahaha
“First, we need to get America back to work” – No kiddn’ what a brilliant thought but how? lOlz no way of doing that while all the jobs went to China and the Worldeconomy lays in shambles.
Come on Youri. You have been here long enough to know how.
Step 1 - Government needs to stop diverting productive assets to non-productive ventures (AIG, GM, Greece, Goldman, Freddie, Fannie, etc.)
Step 2 - Interest rates need to be based on savings rates in order to spur savings. The Federal Reserve needs to get out of price fixing the cost of money.
Step 3 - Reinstitute actual accounting where assets are assets and liabilities are liabilities. None of the new age hiding the pickle accounting.
Step 4 - Discontinue all stimuli through all shadow banking avenues, including overt primary dealer bond stuffing operations.
Step 5 - let the chips fall where they may.
Step 6 - repeal all legal tender laws and fractional reserve lending.
Sure it will be painful short term, but we could actually get back to work in the mid-term. This dancing on the casket shit that the central planners are pulling needs to stop.
The problem is that in a political economy (which is what we have now) there is far more money to be made in money than in producing anything. With heavy currency and monetary interventions along with political favors the productive class is dieing a slow painful death and relocating overseas. Meanwhile, Sachs, Morgan, banks and the like can and will make money all the way down. They will even design the exit strategies.
Central planning, political economies, statism...it's a great thing if you're in the welfare, warfare or financial classes. Everyone else loses.
Dead on with your analysis. The plan which I outlined, not my ideas per se, would be the cure, but the status quo will not allow for it to happen. Iceland - here I come.
Like Volcano's huh?.Temperate clime.
Guess you takes yer chances, where ya take em'.
Yeah.. and how about the people wake up to the fact that THEY are the creditors to the corporation called the USA and how about we get first use of money and give the banks a cut of the rates instead of the other way around where they make ridiculous sums of credit off our backs and share a dollar out of every ten thousand-- maybe, if they feel generous or they haven't dug themselves into the abyss. An entire shift of the consciousness paradigm is needed if this problem is to be fixes. Otherwise these crooks will do this untill the music stops and then dismantle everything only to replace it with something much much worse. Most of use won't even know till its already complete and operating for 10 years. Then some will wake up and say "hey.... wait... a... minute!"
Those folks will be SWAT teamed and disappeared. It's all good.. nothing is wrong.
Kitco moves into creditor protection
Paper Pozi Traders starting to get a spotlight on them. I wonder if the fact Sprott is based in Canada and this is happening there is any coincidence
Actually, i view it as an attack by gold haters on gold bugs. Are you telling me if JPM Canada had the same issues, Quebec would have went after them?
I am probably pollyanish but I believe at some point the worm will turn in the paper PM ponzi. So someone at some point will climb into the ring with The Morgue in the US, Canada or elsewhere
at least it appears the bull is taking the time to pleasure the doomed citizen before he finishes him off.
funny how art imitates life like that.
Yeah, now that's what I call 'feeling horny'.
the money printer will continue to print, that I am sure
As sure as an Irishman loves whiskey. Just wish the reset would makes its way in ernest.
I don't like whiskey, much prefer beer.
Do you know what your head feels like the next day after listening to fiddles all night drinking whiskey???
As far as waiting on the reset, probably not going to happen.
This won't be like an elevator with a broke cable, falling to the bottom; more like an escalator slowly descending.
Gentleman Jack+Coke FTW
I'm Irish, and I like Full Throttle and Raspberry Vodka- but it is green, so I guess that's all right.
Yup, on turbo
Since there is no will to take the steps necessary to fix our financial system, I regret that I have to agree with you 100%.
Gold is talking to us... Let's listen and act!
But no matter how much they print now, it will only keep the lights on in the rigged casino. Game over people.
While I agree 100% with your post, Mike, shouldn't it be "gored"?
The second "g" is transitory.
It's also a softpatch (silent) g. Doesn't count.
Naw, it's just a stray green shoot of a consonant.
Looks like that bull is gorging to me.
It's a glorious gory gorging.
Its a Wall Street bull, you know, the only carnivorous type.
Could someone please explain why the Fed's manipulation of longer-term interest rates (Operation Twist 2) is so much worse than what they do now with their short-term-interest open market operations? Does it simply take much more money creation to control longer-term rates? thanks.
The Fed doesn't need to create any money to control any note/bill/bond rate. All that is required is for the Fed to notify dealers that they will always and without exception defend a certain rate on (x) year treasurys. If the magic number is 4.5% for the 30 year, that's the ceiling, and there's nothing dealers or the 'market' can do about it.
Like a ponzi scheme, this works, until one day it doesn't.
Added: It is commonly believed central banks cannot control long-term interest rates, but if you've got a bunch of Bernanks who make it known they will purchase trillions of 30 year bonds if that is what is required to keep rates down, the 'market' no longer comes into play.
I thought the Fed would have to create the money to buy the bonds, as you stated at the end of your comment. In regards to the first part, are you saying that at the auction, they simply won't go any higher on the yield than a specified number? Wouldn't buyers simply not purchase them then?
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