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Direct Challenge To Federal Reserve & Irish Central Bank Bubble Blowers: Recovery Or Parlor Tricks, Boom Or Bust

Reggie Middleton's picture





 

I was recently alerted to an article in Business Insider regarding a Twitter battle between Nasim Taleb and fellow academics, analysts and financial journalists. What caught my attention was:

  1. Taleb called out the academics for charlatans, which I felt was quite bold.
  2. Two, I agree with him
  3. One of the academics, who presided over the US bubble at the Fed AND the Irish banking bubble at the Central Bank of Ireland is also the guy whose proclamations are the antithesis of my recent Irish banking research, see 
    1. As Forewarned, The Irish Savers Have Just Been "Cyprus'd", And There's MUCH MORE "Cyprusing" To Come
    2. What Should The US Do If One Of The Biggest Banks In Ireland Blatantly Defrauded US Investors?
    3. If I Provide Proof That The Entire Irish Banking System Is A Sham, Does It Set Up A Much Needed System Reboot? Let's Go For It...

I attempted to join the conversation, albeit a little late. See below...

As you can see, nobody wanted to chat with me, so the following day (this morning), I decided to force the issue with a barage of facts. You know how facts tend to get in the way of a good Twitter flame war, don't you?

If media pundits and government/Central Bank consultants were gauged (and paid) based upon thier track records and successes, methinks this would be a better world to live in.

Well, I haven't heard back from the man thus far, so....

 


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Sat, 04/27/2013 - 08:51 | Link to Comment StarTedStackin'
StarTedStackin''s picture

Why not just challenge the leader of the O'Bowel Movement to a debate, and Reggie, I believe you could even allow OBowel to use his teleprompter..........

 

 

 

 

 

 

 

Liars and cowards( trash democrat Socialists) just spew the lies (repeatedly) they never back them up.

Sat, 04/27/2013 - 03:14 | Link to Comment q99x2
q99x2's picture

I have no way of checking this out but someone is saying the banksters are supposed to attack the US with nukes on May 5th.

http://americanholocaustcoming.blogspot.com.au/2013/04/navy-seal-sniper-reveals-nwo-nuke-plan.html

Fri, 04/26/2013 - 18:47 | Link to Comment Gromit
Gromit's picture

Reggie is it time to short PEI now?

Fri, 04/26/2013 - 20:18 | Link to Comment ronaldawg
ronaldawg's picture

Wow - Reggie talking with that low voice and making sense.  How dare you!

Fri, 04/26/2013 - 17:49 | Link to Comment Whiner
Whiner's picture

Say it ain't so, Reggie. I seen you on CNBC while I was working out. I think you were flogging your Google pick (no sound). Don't go over to the dark side.

Fri, 04/26/2013 - 16:39 | Link to Comment Quinvarius
Quinvarius's picture

You have to remember there are two kinds of economists.  The kind that are paid to produce short term political outcomes, and the kind that are actually doing economics. 

Of course the guys in high office are not doing any sort of economics at all.  They are doing politics.

Fri, 04/26/2013 - 16:17 | Link to Comment W T F II
W T F II's picture

Reggie,

 

As Gates and Zuckerberg did not even complete an Associates at the local Community College, you are WAAaay overqualified to debate this shuckin' and duckin' Ass-Clown, Dr. Whelan.

Can you imagine his dissertation..??

Fri, 04/26/2013 - 15:32 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

@Cheyeene

It was all about making those false credit inflated assets real.

retail deposits   should have become national equity tokens while the debts considered null and void.  ...(As Ireland as a total unit still has massive value in a positive money envoirnment)

 

Fri, 04/26/2013 - 15:21 | Link to Comment Cheyenne
Cheyenne's picture

Reggie, that video at the bottom of your post does a great job explaining how FUBAR those Irish banks are. In it you mention you'll be releasing a list of similarly situated U.S. banks. When are you planning to do that?

Fri, 04/26/2013 - 15:47 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

Don't know any of the high and mighty within Dublin castles Imperial walls but I did not think Whelan worked for the Fed.

 

Thought you got him mixed up with this guy who I believe wielded far more influence.

 

http://www.nuigalway.ie/staff/alan_ahearne/index.html

 

He kissed Greenspans ring or something back in the day.

 

Heard him giving bad advice to Irish farmers one morning  - telling them to believe in the power of machines rather then labour.

He never responded to my questions on the Irish economy blog at the time.

 

Junk economics that avoids debt and the costs of intermediate consumption caused by banks giving credit rather then national credit (not national debt which aherene likes so much) to build real long term capital.

http://www.rte.ie/radio/utils/radioplayer/rteradioweb.html#!rii=9%3A20124232%3A0%3A%3A     (give it about 20 ~ seconds to start)

Reggie - listen to above crap , you will fucking love it

 

Now irish farming is in a epic intermediate consumption crisis..............

 

Listen Reggie.

The Irish state asked a Fed guy to come up with their monetary system back in the early days .......

Enough said really.

 

But if you look at European council documents they do not even refer to this sod as a republic - which is fair enough as it portrays reality on the ground here.

 

A real state would simply print real money or military fiat (not monetary double entry stuff that is not spent into the economy to maintain the previous  claims on wealth ) to achieve real goals.

 

In the above interview he wants labour intensive thingies , but how can you do this within the Euro ? - it will always select the machines first.

Handling costs within a rail hub are too high within the Euro.

But fuel prices are also too high within the Euro............

It will destroy what little remains of Irish domestic primary and secondary industry.

A rail hub coming out of Waterford port with rail hubs / spurs in Cahir , Silvermines etc etc is needed.

 

"But we must remain competetive" ( which is code for extraction of labour value which has been used especially since we left the sterling peg in 1979 for the euro soviet)

 

PS

The growth he talks about in the above interview is really energy growth...............oil consumption has declined 34 % from max in 2005  to 2012 and its still falling.

You cannot have growth of the machines when their fuel / food is fucking gone.

 

You issue money into existence and you pay labour to reduce energy fucking consumption.

1 euro a ticket rail 

insure that farmers get subsidised labour.

pay fork lift drivers to transfer stuff from truck to rail etc etc etc

You tax new private cars off the road or prevent free banks creating credit to buy BMW ireland cars   (farmers cannot buy feed because the banks won't give them credit)

BMW are first up to destroy our energy ration.

Sat, 04/27/2013 - 09:55 | Link to Comment disabledvet
disabledvet's picture

One of the more colorful stories of the 90's speculative boom was of what we call here in the States "electrical co-ops." these are AWESOME businesses that supply dirt cheap electricity to small towns and small businesses "without all that corrupt political pay off pricing" that exists in the bulk of energy pricing in the USA. This story has to with a small Montana energy co op that had operated profitably for well over century "before Mr Wall Street arrive and said the big bucks were in telecommunication" thus saddling the tiny business with a mountain of debt and bankrupting the business within a year. Needless to say everyone lost their jobs, electrical rates soared and no one sat next to the guy and his wife in Church anymore. "the plan is always the same"...just bankrupt them by whatever means. Insodoing prices themselves remain usurious and the banker could care less about the interest rate. I really fail to understand what the politicians feel they are "bringing home to their constituents" when they create a bailout regime. ("pure hell" comes to mind though.) clearly We The People are not any safer as Boston has the biggest terror attack since 9/11 and "nobody really cares actually." anywho as was famously said in Apocalypse Now "one day son this war is gonna end." (meaning no...it never will. Ironically that one did actually. But this Clash of Civilizations thing is looking like it could last a century or more to me.)

Sat, 04/27/2013 - 10:04 | Link to Comment disabledvet
disabledvet's picture

Actually one of the terrifying aspects of the 2008 collapse is not the collapse of industry in the USA (not hiring fer sure...but expanding massively courtesy of the Far East) but the collapse of agriculture. It will be interesting to see if the USA becomes a net importer of food soon. The irony that it would be happening in a place that has a billion acres of arable land is not lost on me. We have a massive food stamps program...my view is the Government should require all us based farmers to be enrolled in the program first to start getting as many Americans back in the agricultural business as soon as possible.

Fri, 04/26/2013 - 13:47 | Link to Comment Son of Loki
Son of Loki's picture

Reggie, if you ever arrange a debate with any of these guys it will sell out quicker then the UFC fights. I will grab a handful of ticket for front row, Reggie.

Fri, 04/26/2013 - 13:38 | Link to Comment outamyeffinway
outamyeffinway's picture

These guys dare not debate Reggie. It could be career ending. They debate other Phd's and stroke each other silly. I think that's along the lines of Reggie's point.

Fri, 04/26/2013 - 13:05 | Link to Comment StarTedStackin'
StarTedStackin''s picture

say it......."I'm not going to fall for the old banana in the tailpipe trick"

 

 

 

 

c'mon say it!!!!!!

Fri, 04/26/2013 - 13:02 | Link to Comment maskone909
maskone909's picture

reggie i dig your style.  brass balls.  do you hire people to start your car in the morning?  honestly dood you got to be getting a shit ton of blowback.  ala chinga amigo

Fri, 04/26/2013 - 13:02 | Link to Comment Winston Churchill
Winston Churchill's picture

Reggie,

You know we don't poke sharp sticks at the inmates in the hospital anymore, even

the criminally insane ones.

Going to have to call you Bedlam Reggie in future.

Fri, 04/26/2013 - 12:57 | Link to Comment wstrub
wstrub's picture

B.S., P.H.D.  ....piled higher and deeper......with respect

Fri, 04/26/2013 - 12:55 | Link to Comment irishlink
irishlink's picture

Reggie. The Banks are still hiding huge losses. They are a law unto themselves. Soon Irrland will need another bail in and then we most definitely WILL BE GREECE ! As you pointed out Richie Boucher lied about the Capital in BOI but Wilbur insisted that he remain at the helm. A deal is a deal and he is now getting handsomely rewarded as the highest paid bank head in Ireland. To quote Sheakspeare " something rotten in the state of .........'

Fri, 04/26/2013 - 11:53 | Link to Comment The_Small_Lebowski
The_Small_Lebowski's picture

Reg - methinks you got a complex about no PHD. Who cares mate - you are one of the few shining lights in this whole shitfest. If you never went to college id still have no problem with your researsh - IT IS THOROUGH!

Fri, 04/26/2013 - 12:27 | Link to Comment Reggie Middleton
Reggie Middleton's picture

No complex at all, just a disdain for those who believe that PhDs mean something other than the amount of schooling that you received. I say we start making pundits to market!

Fri, 04/26/2013 - 14:30 | Link to Comment Kassandra
Kassandra's picture

PhD...Piled higher and Deeper

Fri, 04/26/2013 - 13:25 | Link to Comment sodbuster
sodbuster's picture

Ha! Then throw an undeserved Nobel prize in with a BS PHD, and you have a narcissist who thinks their shit don't stink- and is still totally clueless- or a shill.

Fri, 04/26/2013 - 13:05 | Link to Comment NotApplicable
NotApplicable's picture

Wrestling with pigs will get you nowhere. The instant I read the line where you were challenging them, my first thought was, "prepare to be ignored."

Sophists exist to provide sound bites to the masses dumb enough to latch onto them. They will never, EVAR, engage in any sort of debate that isn't merely more disinfo mixed in with ad homenim attacks. Given the Twittergasm you just put out, you've given them all the ammo they need (if they ever feel compelled to address you at all).

Most likely, the only result will be your lack of future CNBS appearances.

In other news, thanks for knocking that idiotic MonetaryMetals article off of the top of the page.

Fri, 04/26/2013 - 10:35 | Link to Comment emmadavis
emmadavis's picture

Reggie, you are a smart guy who likes data and you have access to data that I do not. I am curious, do you ever worry? about the possibility of a financial catastrophe that causes supply chains to break? http://www.investmentcontrarians.com/stock-market/u-s-pension-crisis-a-huge-obstacle-for-the-economy-2/1925/

Do NOT follow this link or you will be banned from the site!