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What To Expect As QE 2 Ends, And Why By The Time QE X Is Over "Bernanke Will Be The Biggest Landlord In The Country"
We have long claimed that 2011 is playing out in a manner virtually identical to 2010, almost to the tic. And as we approach the end of QE2 in 6 weeks, a quick glance at what happened with stocks following the end of QE1 in March of 2010, will be illustrative of what to expect this time around, because contrary to what Comcast's business channel would want its ever declining viewers to believe, it never really is "different this time." To help with that comparison, here is a David Rosenberg summarizing what happened between the end of QE1 and Bernanke's August 27 announcement of QE2. If this is all it takes, then as we (and Scott Minerd earlier) have predicted, get ready for not only QE3, but 4, 5 and so forth. And not only that, but Rosie joins the likes of Zero Hedge, Minerd, Koo, Janjuah and all other pragmatics who realize that the Fed will never, never, allow deflation to run its course even if that means collateralizing the dollar with sewer bonds and physical housing, which incidentally is what Rosenberg predicts: "the day the QE programs run their full course, the Fed will have
likely added physical housing units to its balance sheet as opposed to
just mortgage paper. Ben Bernanke will be the biggest landlord in the
country at that time."
Rosie reminds what happened laste year between the end of QE1 and the surprise start of QE2
- S&P 500 sagged from 1,217 to 1,064
- S&P 600 small caps dell 394 to 330
- The best performing equity sectors were telecom services, utilities, consumer staples and healthcar, in other words - the defensives The worst performers were financial, tech, energy, and consumer discretionary [sound familiar?]
- Baa corporate spreads widened +59 bps from 237 bps to 296 bps
- CRB futures index dropped from 279 to 267
- Oil went from $84.30 a barrel to $75.20
- The trade-weighted US dollar index (against major currencies) firmed to 76.5 from 75.5
- The yield on the 10-year US Treasury note plunged to 2.66% from 3.84%
and yet...
- Gold was the commodity that bucked the trend as it acted as a refuge at a time of intensifying and financial uncertainty - to $1,235 an ounce from $1,140 and even with a more stable-to-strong U.S. dollar too.
In other words, for those who have forgotte, gold was the only commodity that outperformed and in fact rose, as at least someone had an inkling that QE 2 was coming...
And Rosie's prediction:
The Fed is seriously contemplating an end to QE2 but make no mistake, QE3 will come down the pike, but at completely different levels on everything. It is certainly not going to happen at 1,330 on the S&P 500 but we do know that the strike price last fall was 1,040 and lots of chatter of a 'double dip' recession.
Bernanke, Yellen and Dudley, in contrast to the Fed Bank Presidents, would love nothing more than to quickly embark on QE3 and keep economic growth above 2% but they do not have enough support on the FOMC or on Capitol Hill. But that day will come when we see QE3 and it will be the day when all the folks who are complaining and lamenting QE are lining up begging for it. (And, the day the QE programs run their full course, the Fed will have likely added physical housing units to its balance sheet as opposed to just mortgage paper. Ben Bernanke will be the biggest landlord in the country at that time.)
Which means that by then, the dollar will be collateralized by multi-family apartments, warehouses and, appropriately, sewer bonds. Which also means that the dollar will be approaching an inverse asymptotic valuation. Which, lastly, means that the Fed will be monetizing every last piece of paper to come out of the Treasury, as America changes its name to the United States of Weimar.
And for those who missed Minerd's thought on the issue earlier, here it is again from the horse's mouth.
Guggenheim Partners - Market Perspectives - The Case for More Monetary Elixir
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Has anyone looked at the Baltic Dry Index lately?
Yup. A couple of times each week. Downsloping trendline holding so far. A sub-1000 print is on my watch list.
Fed playbook revealed:
QE 2 ends, and the Fed lets things deflate so hard assets will be easy pickings for GS, JPM, et al., flush with those newly minted USDs which will be on the rise this summer. After they've feasted, economy clamors for more QE, the Fed begins QE 3 and reinflates the assets through 2012 election to give Obama an NBA level assist.
Inflate-deflate until the serfs catch on....
Fed to finish with a stock market crash-crises to confiscate private pensions. The Fed will offer a good news and bad news scenario.
The Good News shall be that the Fed (ever the White Knight) promises to restore everyone's IRA and 401k values to their stock market pre-crash levels (in UST bonds). Desperate and relieved, people will feel they have no choice but to allow the Fed to transfer said their values into something much safer, like those 'super safe' US Treasuries, to be held in a newly created "National Trust Fund," which will also be co-mingled with SS at that time to re-float the insolvent "SS Trust Fund."
The Bad News from the Fed will be announced belatedly after the above has occurred. The US debt and USD crises will deteriorate. The real bond market will react. The Fed will announce that rates must necessarily be hiked through the roof, which will wipe out the bond values that have been neatly transferred to, and held by, the taxpayers.
Your crystal ball is vastly clearer than Ben Bernanke's, unfortunately for us.
The inflate deflate is TPTB bread and butter and being played out now.
That exact IRA-401k confiscation scenario proposal has already been introduced and layed out a couple of years ago to a receptive congress by economist Gilarhducci (sic) from the New University (where Karl Marx is held in high esteem).
Rickards and others have pointed out that the Fed has painted itself into a corner by holding the bonds which will melt down when rates rise, as they eventually must, to reflect reality. Since there's nobody else, who better to dump them on than the taxpayer?
Nice summary, that's just about exactly how I see it unfolding. I would add their final move to gold as the ace up their sleeve. With all world paper uttering a death rattle, the world banks will flee almost simultaneously to real money. At this pinnacle of hyper-inflation The Ben and ilk will be able to easily pay off 'old paper' debts with the shiny stuff in their vaults. Voilà. They remain in power and in control of new money. If we let them...
Agreed. They'll be after all of the gold they can exchange in lieu of bad paper and toxic debt. Gold is a hard asset and I'm sure they will be dumping all thngs paper for all things real on the inflate-deflate cycles. Hedge funds like Blackrock are now going big on buying global farmland. Says a lot.
But Gold is still such a wildcard with the Fed. Besides knowing that they covet it, I felt I had to leave it out because of the following unknowns:
Do they really have the 8100 tonnes? How much of it is really available for good delivery? Who really owns it? How much has been leased, sold, or stolen already? Would the Fed ever really give up their fiat monopoly? At what point in the pain cycle (theirs or ours) would they consider moving to a gold standard? Could they confiscate US sovereign gold by surrendering or selling it to a proxy like the IMF to reiterate a new ponzi? What will big creditors like the Chinese have to say about any of this?
I am a definitely a believer in getting physical and hard assets.
I'm not sure there will be any good news at the end of QE, unless you consider slavery and martial law good news. The land they do not own they will control through legislation.
Biggest land grab ever.
like that 'war. actually, been on this same line for awhile, just couldn't put it as eloquently as you did. Makes more fucking sense than the rest of the bullshit people are throwing around. The MAIN POINT is the "fake value up(sell)-value down(buy)-fake value up(sell)" for the top crooks.[simplified] Been going on for years/decades now. Not that hard to spot really, can't believe it doesn't get major coverage. shit, I forgot, we live in sheepleland.....
To understand a demon you must think like a demon. Well done! I'm gonna copy and paste this baby!
Tuco Benedicto Pacifico Juan Maria Ramirez
Could be. Especially the parts up through 2012 assist. The part where I digress is where 401ks and IRAs are forced into USTs. I think that even the average sheeple would react to that one. Those are semi-liquid funds, unlike most pension funds. Lots of folks are tapping those funds now as well and the next deflationary leg will see even more drawdown on those funds.
Dontcha think the Bernank will do a little stealth QE2.1 to soften the blow before he takes off the mask and rolls out QE3,4,5,6,7...? or as Marc Faber says "pick a number"
This whole fiat thing is really starting to suck.
Dontcha think the Bernank will do a little stealth QE2.1 to soften the blow before he takes off the mask and rolls out QE3,4,5,6,7...? or as Marc Faber says "pick a number"
This whole fiat thing is really starting to suck.
Dontcha think the Bernank will do a little stealth QE2.1 to soften the blow before he takes off the mask and rolls out QE3,4,5,6,7...? or as Marc Faber says "pick a number"
This whole fiat thing is really starting to suck.
Oops! I hit the same key Bernank uses when they need to triple the supply of digital fiat.
Nothing will matter until things begin to matter again! Maybe this end of QE dah dah dah will actually make fundementals matter again, but I will believe it when I see it. I posted the following message on the lack of volume article, but feel the need to copy and paste it here yet again because people continue to talk about fundementals....Which is insane....There is nothing fundemental about this market, nothing matters, robots run the place and you will just have to forget all you have ever learned, hold your nose and follow the flow (not advocating it, just saying it is what it is if playing fiat is what you are into).
"Not sure what all the fucking talk is about with this market fundemental shit. If you want to trade in this fiat shit, all you need to do is have two fucking screens. One showing the Euro/Dollar and another showing the dow. Blip by Blip, you will see the robots trading this shit exact opposite. There is no fundementals, there is no future discounting of shit, there is only Euro goes up .01 cent, dow goes up 2 points. Dollar goes up 1 cent, Dow is down 200 points. Get with the fucking program and follow the robots, if making fiat is what you are looking to do. Dont listen to that fucking dick head robo asshole with fundemental bullshit. There are no fundementals. Are you fucking kidding me? I guess this message is for those folks that are still scratching their head trying to figure out what in the hell is going on with the markets being up when the weekly claims are shit (over 400K which means we are losing jobs vs. folks that are coming into the market), Leading indicators print at below shit (not sure what that qualifies as "below shit", but I am sure robo will tell me in a minute here), home sales are anemic and there is absolutely nothing fucking going on in the Philly region except brotherly love that is. So for you folks that still are trying to figure out what in the fuck is going on, have those two monitors on and watch the euro/dollar and watch the dow. It is really that fucking simple and that is what our "free market system and great capitalism, blah blah blah) has come to. The robots run the place and at least for the last two months, that is what they are programmed to run to...... Now for the blah blah blah.
I actually feel sorry for Tyler, et all for taking so much time and effort researching shit (which I myself truly appreicate from an educational stand point), but it means fuck allllllllllllllll."
...agree. Follow Ben and Momo. Charts and research don't mean shit when the fix is on.
Is the plan to own all the homes? After what I heard from Obama today in Israel I now am sure he is a believer in the NWO.
No borders, no private ownership, no rich people ( we all get buried ) and certainly no freedom.....
Homeless bitchez!
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
the how of Fed ownership of hard assets is more interesting than the why. what sort of landlord would the Fed be? will they sit back and let their paper mold, and will the governments who wrote the bonds feel any particular need to meet the interest payments, and will they essentially live rent free like so many foreclosed mortgage holders. the question is from a fundamental standpoint is what are the benefits, risks of having Helicopter Ben holding your assets. do you feel like the maid when he pulls your face down on his( expletive deleted), or are you sitting at the bar with the Ben man, sipping wine coolers?
I gotta think this would be great for city and county government, as they psuedo default on their sewer bond, and build a new mulitplex out by the freeway with the extra money?
They may not ease thru the fed. Fed didnt like the attention and svrutiny.
My bet is on fannie, freddie, VA, and that other one i always forget, fhlp? Stealth easing thru the liquidity suppliers and guarantors.
anything is possible, when Gov Brown closed off redevelopment my city offered to buy the asets in their redevelopment agency and take them onto the main balance sheet. how the hell can they do that while they are closing schools, ambulances, street lights. shit anything goes, fannie and freddie hold the property? why not. lots of creative accounting, and no one to tell them no.
Skid Row USA
Skid Row USA
Skid Row USA
All coming back to the greatest minds and a Socialist Agenda in full force. USSA USSA USSA.
Start the hanging bitchezzzzzzzzzzzzzzz. Its over.
Link worth re-posting from a day or two ago from Michael Pollaro:
Monetary Watch May 2011, QE III Courtesy of the Private Banks
"..the private banking system will by June’s end be sitting on somewhere between $1.6 and $1.7 trillion in excess reserves, meaning the fuel for the banking system to expand the money supply is in a word explosive. Indeed, at a reserve requirement ratio of 10% (the most restrictive reserve requirement ratio currently imposed by the Federal Reserve on private banks) the private banking system – if it be willing to lend, or if it can’t find willing/able borrowers at the very least be willing to buy existing securities – is in a position to expand the money supply by a massive $17 trillion."
"..we are theoretically looking at a money supply some 3.2 times higher than today.
Indeed, in theory the private banks have the ability to buy ALL sorts of tangible goods and property w/o Bernanke or a debt ceiling getting in the way..
Yeah, and the most powerful man,is most powerful when he is on it`s own..
Pretty interesting article.I wonder if that's the plan. Let qe end let the mkt sell off and then the banks load up on the cheap stocks then ramp it up on their own.without the Feds help this time.there will be so many people short they could inflict major pain. I wonder? Trying to figure out how to play it.
599 gtb driver. Lay low. Stay in cash. Re: the higher yields this week. Do your homework.
But neither QE1 nor QE2 stimulated growth or employment beyond manipulated government data. Even at the Fed that's pretty clear, and the Jap model is no better. They may try to start QE3 but the economy/society comes apart before it ends.
"Dogs and cats living? together, mass hysteria!" That's what will happen when QE2 ends.
http://www.youtube.com/watch?v=O3ZOKDmorj0
Bernanke said the asset purchase program will end, not QE2. Semantics, yes, but it gives him wiggle room to throw more shit against the wall to see what sticks.
My Wif is not a dog, dammit!
Pile of debt would stretch beyond stratosphere
http://www.reuters.com/article/2011/05/19/us-usa-debt-size-idUSTRE74I5TL...
September 13, 2010
When a wealth transfer program is in full swing, just look at the thieves openly conducting operations.
It's all right in front of ZH readers, all we need are names (DSK) to bring the whole charade down to its knees. We're at the one yard line with a first down.
http://www.blinkx.com/watch-video/imf-in-greece-economy-review/VN6SC7dgLEdHXtBL3Eb2Ow
Diluting the money supply is likely to come about thru real estate.
The next easing will likely be related to housing, but may be less obvious than thru the fed. The fed did not like all that attention.
The financially astute can figure out several stealth easing methods with real estate. No need to lengthen this post.
TCT, I am very interested to hear your thesis. There are enough space in this page's margin ;-) If you prefer, please PM me.
Why is the Forint down?
(Yes, reduced to this.)
I guess it won't be long before Ben and his fellow travelers begin to signal their regret at the decision to stop QE. But it's going to be hard to change tack. Getting a bit late to start using the tsunami as an excuse not to stop QE.
But they must know that once QE stops and things start falling apart, QE's credibility as an primer of sustainable recovery is going to be shot. There won't be much excuse for starting it back up again, other than simply to make the US economy's demise quicker and more comfortable.
Or perhaps the FED will allow all those individuals with the cash they removed in fear last crash to seize the opportunity and make the run up themselves this time. Only a theory, but one can hope
Silver is forming a wedge on the H-4 chart based on the May 4 (low) and May11(High).
Some may choose to use a day later. For simplicities sake, I'm using H-4 b-bands. I have a 2% deviation or 35.85 top band. The trade is range bound. The stochastic and RSI are in the 50's. More importantly the macd fast line is bent down (below the zero fast line) and the osma is not heavily over sold. I'm flat with a slight downward bias.
I need a big dip to excite me. Careful, not a head fake dip. 31.5-32 area looks good s/t.
thank you, DSK, for your head and dip calls.
Just remember to only invest the tip.
I had to go all the way to the end to dodge the running gun-baltle among Smells, tmosley & akak.... now I forgot what I was gonna say. Uh, something about the Fed?
This is by far the most terrible comment section I have ever read on Zerohedge.
>THROW it in the record book<
slow news day...natives are restless
Jesus ODammer, even this troll is sick of trolls here.
PS
The Forint just hit unchanged.
I offered some fundementals/ technicals. Mynhair. You have some trading thoughts? I'm having a good week.
Missed your post on technicals, sorry.
Only delve into Fx when I am so hammered, I can't see straight.
But it works.
Hell, it's the only thing that works. Pays for my losses in the Pig Market.
Don't see much right now, anyway, that needs to be jumped on.
You mean piglets. On a lighter note, I'm putting together a pool on the (DSK) escape plan. Got any ideas on odds?
Tyler, what about posting about BitCoin?
Who punched you in the wrong eye?
I was thinking someone missed an eye.
Veiw from the front... There ain't no there there.
Henry
Fuck that, just burn the mutherfucker down!
I may be an optimist (or pessimist, depending on your frame of reference), but I think there is still a better than 50% chance the QEs are done. I think Bernanke knows where the QE to infinity road ends, as do the shareholders of the Fed. In the end, I still have to believe they will pull back and allow the debt defaults happen and cleanse the system. The one fly in this ointment, in my opinion, is that Congress and whoever the president is 2 years from now may not be nearly as knowlegable, and they may force the monetization of everything in order to keep can kicking as long as possible.
With fiat repudiation bankers lose their power and means to make money.
I also believe they will allow a depression rather than hyperinflation.
You can shear a sheeple twice a year but only kill it once.
I'm not clear on the Landlord part. Will the Fed acquire title to shadow inventory units through some purchase/swap with the Banks?
And if so, will those banks now free from the burden of those REOs be tapped by a credit market starving for a new round of sub-prime credit?
Only to be monetized by the FED?
They will own it all but due to their effective scorched-earth impoverishment campaign none of it will be worth jack squat. The mall they own here I wouldn't visit in broad daylight with armed bodyguards.
I understand your point (Buzzsaw) Never discount HUNGER! HUNGAR!
Death is death! I'll take it fast! Think about it.
I know bernanke does not care about the deterioration of society. He only loves gollum and jpm.
http://en.wikipedia.org/wiki/Crossroads_Mall_%28Oklahoma%29
JPM is not Golden. Doesn't matter, you know the game, (comma)
This my friends is what communism is all about. Thanks Ben for destroying what is remaining of the free markets to include the USD. You are a fool for your intervention on fear of deflation. You should have flunked and I mean flunked any higher education.
It is Jackasses such as yourself as to why the middleclass is outraged. Keep helping your banking buddies, because we are going to vote all you bastards out. NO WE WILL NOT CHANGE OUR MINDS. YOU PUKES ARE DONE.
Unfortunately, to vote someone in we must vote someone out. How's that turned out for us historically?
Yeah.
I would like to see you elaborate from the frame of mind that there are savers and debtors. I surmise you are a debtor?
Any silver bulls on here getting ready for the imminent $33 handle?
You hick. xag is @ the lowest s/t 31.58 . Lock in with smalls 32. P.S. that hick thing doesn't work with me!
Whatever you say chink. You're chink thing doesn't work with me.
After the Revolution the French attempted to finance a bankrupt country by issuing notes backed by the confiscated lands of the Church -- Assignats. It worked for a while and succeeded in retiring some of the country's debt. But the notes morphed into currency and the government could not resist printing more and more. In the final analysis, land didn't meet Aristotle's criteria for money and the Assignats weren't convertible anyway. The fact that the Fed holds real estate assets is meaningless if no one knows their value, they cannot be used as money and they are not easily interchangeable with the paper that can be used as money. In the case of the French the result was hyperinflation, price controls and the guillotine for those who violated them -- something to think about.
Civil disorder can arise from currency disorder. History is replete with examples. Look at Greece today. That is why each of you need to watch carefully the growing internal security apparatus in the U.S. and appreciate what these people are doing to the Great American Experiment tyat attempted to rationalize freedom and popular government.
yea, yea, yeah...
Not 'till you cut the blacks off of food stamps, and the red diaper doper babies off the welfare tit.
ie; Minnesota....nothing even got cut off and they stormed the capitol building and legislators fled like scared monkeys.
The welfare root runs deep young Daniel son.
.............I own a few girls so my incomes stable at the moment
Well, I probably own you...so keep up the good work.
Better keep those bitches on lock.
Get paid in SDRs recently?
Thanks. Saved me some history instruction.
A currency (be it physical or electronic) seams ubiquitous even in the long view. May we finally resolve to wrest control of it from unscrupulous inbred Elite!
Pay no attention , it's just a front.
by Yen Cross
on Thu, 05/19/2011 - 21:12
and the meeeeeeek shall inherit thee Earrrrrth.
We've taken care of everything
The words you hear the songs you sing..
..
I picked up a few Assignats at a coin show about 2 months ago. Whenever I need a reminder of what a failed currency looks like, I glance at my Assignats and then glance at a dollar bill.
They're a great conversation piece.
And this is for trav7777 -
'member when I said millions would die from this....eventually?
"British Scientist: There’s no doubt Fukushima dwarfs Chernobyl — Going to yield more than a million cancers (VIDEO)"
http://enenews.com/theres-no-doubt-fukushima-dwarfs-chernobyl-going-to-yield-more-than-a-million-cancers-video
You can, again, eat my shit.
Everything is going according to the plan bitchez!
When hyperinflation hits and gold gets confiscated from hoarders, what would you hold ?Why are banks dragging their feet on foreclosures ? Are they that incapable ? No, they know what they are doing. Ownership socienty, ha ? Look exactly the other way. Very few people own they homes in Europe. Welcome to the new America- banker's America.
Everything as a service bitchez!
Remember Jefferson:
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
I’ve been saying for a year how unfair it has been for the Fed to be buying up only mortgage paper from big banks while it left the physical housing market to disintegrate. 85% of all homes in Las Vegas are under water. In at least ten major cities across the country, over 50% are under water. There is no way our economy can truly be on a path to recovery until this situation changes. I don’t agree with it, but, if the government is going to subsidize an entire segment of the economy, at least give some or the benefit to the masses. Rest assured, if such a scheme ever happens there will still be plenty of grift in it for the bankster elite. I can imagine the Fed buying all this foreclosed property at it’s mortgage value from the banks, then turning around and either selling or leasing it to shell companies set up to manage the physical property (something tells me Ben Bernanke and Brian Sack aren't going to go knocking on doors to collect back rent). In addition to QE 5, there will be a need for TALF 2 so that these companies can be financed with government backed loans, have guaranteed double digit returns, and be easily run by rich investment bankers, their wives, relatives, and close friends.
i think you have it there, but managing these properties is ultra expensive. it won't take long before storage of assets, cars, or gold or what have you, fare exceeds the intrinsic value. the fed must be reluctant to do this unless they allow the banksters to profit, by allowing them to charge the Fed for managing the property. it all smells about right or is that ripe
Death of the States is here.
H. J. Res. 62: Proposing an amendment to the Constitution of the United States to give States the right to...
http://www.govtrack.us/congress/bill.xpd?bill=hj112-62
We are all aware that the House is full of lackeys throwing shit at the wall to see if it sticks, till then....
This is a good thing.
I'm moving all to FRNs very soon. Cash in the entire portfolio and wait.
It's a repo, or repossession.
The United States has been placed in receivership to the fed. That's why lil' Tim was moved from the fed to the treasury. He's squeezing the sponge, trying to get what he can out of all these deadbeats.
Then they can keep what they like, and try to sell the rest back to us (with interest of course, of course...did I say at interest of course?)
The problem is, it's not going to be so easy. The economy is not growing, it's stuck at the precipiece of a century long bonanza of energy extraction. An epic fiesta, which is now out of limes and running out of tequila.
When you can't grow the economy, the whole model is broken, permanently. Like an options contract, a wasting asset that one day expires. They need a whole entire new model to come out of this one on top.
There's other forces at work now, like entropy.
They're voodoo economic meddling is political fakery.
Entropy on the other hand can be maximized [the goal of a competitor] by large rate of change in energy.
dU = TdS - PdV
With a contraction in energy, inevitable in the kleptocracy of the US, innovation, work etc all decline. Entropy is always increasing, there's just less and less free energy to do work to feed the mouths and the system is running down in a state of decay.
Arrrgghh! Nightmares of PChem! Demon begone!
The Union Is Dissolved!
Love it!
It is another competitor within the subtle-yet-sleek category batterie yet having a much lower price compared...
Resistance is futile. All your land belong to us.
We will mandate the creation of a new arm of the .gov called the Federal Agency In Land (FAIL) which will administer the "nationalization" of all land in the US.
WE will decide where you will live. Preferably next to a railroad.
The Fed
The "guy" bough 1/2 of USA with toilet paper!
How nice is their game, the more they print the more they own.
And at the end, everybody will default, because you dont have enough paper on the table to pay the interest. Total domination trough ladder and snakes games.
The "guy" bough 1/2 of USA with toilet paper!
How nice is their game, the more they print the more they own.
And at the end, everybody will default, because you dont have enough paper on the table to pay the interest. Total domination trough ladder and snakes games.
The "guy" bough 1/2 of USA with toilet paper!
How nice is their game, the more they print the more they own.
And at the end, everybody will default, because you dont have enough paper on the table to pay the interest. Total domination trough ladder and snakes games.
When QE2 ends, price collapses will be on Wall Street not Main Street.