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IceCap Asset Management: How To Lull A Banker To Sleep

Tyler Durden's picture


When it comes to sleepless nights, Toimi Soini of Finland originally set the record by using the "toothpicks under the eyelids" method for 11 straight days. In hindsight, Toimi was an amateur. Toimi Soini was not a banker and this was his downfall. As for the Canadians, Swiss and British – yes they are all bankers, but not just any bankers. This terrific trio have the displeasure of forever being known as the bankers who sold their gold. The irony of course, is the action of the World’s central bankers themselves is the reason why gold is destined to remain golden for sometime to come. And with gold sitting near $1700/oz, and with no end to the money printing games, the sleepless nights are destined to continue. IceCap's Keith Dicker opines on the wrong-ness of Alan Greenspan's economic miracle, equity manager's misplaced rationalization of performance as skill, China's gold-buying spree, the Nobel Peace Prize debacle, and the inexorable growth of 'fake money'.



Icecap Oct2012

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Mon, 11/05/2012 - 21:36 | 2950525 bank guy in Brussels
bank guy in Brussels's picture

Wasn't it more honest of the Central Banks to sell their gold openly ...

Than to secretly lease it out or let people steal it but somehow claim they still have it?

Fort (cough) Knox ... US (cough) NY Fed ...

Mon, 11/05/2012 - 22:37 | 2950678 essence
essence's picture

This leaves me in a quandary. Mr. oh-so-connected James Richard is adamant the leased U.S. gold has 'never-left-the-building'.
And who am I to contest that anyone would 'buy' Gold and not want to hold the Precious in their hand.
So yeah, the Gold in Fort Not & Waterworld (33 liberty st, NYC) might still be there, despite multiple claims against it.
A bit of a moot point since Uncle Gorilla can take definite procession anytime it chooses (Germans & other wimps be damned) ...
again, per --- oh-so-connected James Richard (who humbly describes himself as "just an analyst"),

This piece by IceCap strikes me as someone wanting to have their cake and eat it too.
One one hand, don't alienate the wealthy old school (with big investment bucks) by being too revolutionary, and yet ... can't exclude the hard charging new groups who are vastly more aware.

Tue, 11/06/2012 - 03:33 | 2951108 savagegoose
savagegoose's picture

you forgot peter costello , of australia.

Mon, 11/05/2012 - 23:48 | 2950835 ACP
ACP's picture

1) Rub banker's belly

2) Banker falls asleep

3) Steal gold

Mon, 11/05/2012 - 21:44 | 2950547 NoDebt
NoDebt's picture

How's it look Ben?  

Quiet.  TOO quiet.

Mon, 11/05/2012 - 22:54 | 2950730 bigdumbnugly
bigdumbnugly's picture

chinese full frontal?

not much to see here, move along...

Mon, 11/05/2012 - 21:50 | 2950567 Abraxas
Abraxas's picture

IceCrap Asset Management - nice name.

Mon, 11/05/2012 - 22:00 | 2950588 JustObserving
JustObserving's picture

QE (fake money) by US, Europe, Japan and UK from 2009 to 2012 is about $6 trillion.

Total debt of US, Europe, Japan and UK about $35 trillion

Unfunded liabilities of the above about $300 trillion.

The $6 trillion printed so far is completely inadequate to handle the debt and unfunded liabilities - so we will have eternal QE.

All the gold bullion available in the world about $4 trillion.

Gold should be much higher now.


Mon, 11/05/2012 - 22:42 | 2950656 news printer
news printer's picture
US Presidential Third Party Debate LIVE

Libertarian Party candidate Gov. Gary Johnson and the Green Party's Jill Stein

Mon, 11/05/2012 - 22:24 | 2950659 apberusdisvet
apberusdisvet's picture

Excellent recap of the problems today; smart, objective guys; I'm happy that ZH posts their stuff.

Mon, 11/05/2012 - 22:26 | 2950665 Orly
Orly's picture

Doesn't anyone see this but me, that it was a giant set-up to have the Chinese (and Indians...) buy up loads of gold at inflated prices, crash the system and leave them holding the biggest bag of all time?

Mon, 11/05/2012 - 23:12 | 2950776 essence
essence's picture

Ahh, aren't you leaving out a few, such as the Brazilian CB, South Korean CB, Russian CB, Mexican CB, Iran, Turkey, etc.  The list seems to keep growing despite Gold being a "tradition" and a "relic".

Seems to me it's more like a select few core Anglo Central Banks (and their minions) -- against the world. Even that is changing daily as chatter about re introduction of Gold into the Monetary realm is on the upswing throughout the establishment.

Now of course, the entrenched elites would seek to game any changes to their favor , but that's a whole 'nother subject best left for another post.


Tue, 11/06/2012 - 01:30 | 2951018 Al Gorerhythm
Al Gorerhythm's picture

Left holding a bag of gold? There's a problem with that?

Tue, 11/06/2012 - 09:56 | 2951449 Enslavethechild...
EnslavethechildrenforBen's picture

All that Gold didn't cost them a cent, just some old paper and ink.

And that bitch is complaining?

Tue, 11/06/2012 - 04:39 | 2951135 fijisailor
fijisailor's picture

One small problem with your theory.  Indians and Chinese have long term strategies.  They will still be holding the bag when you are old and grey because that is how they view investing.

Mon, 11/05/2012 - 22:31 | 2950680 Yen Cross
Yen Cross's picture


How To Lull A Banker To Sleep...     Buy him/her a clock radio with a "soothing sound option" that sounds like a room full of printing presses running.
Mon, 11/05/2012 - 23:23 | 2950797 Orly
Orly's picture

Your bounce in E/A may be on the way, YC.  The pair skirted the 50% Fibo retracement for the last fourteen hours and only just now was allowed to toe the line.  Possible upside to 1.257?


Mon, 11/05/2012 - 23:38 | 2950822 Orly
Orly's picture

Or not.  I don't get how if they left rates alone that there would be some reaction like that unless it was just to blow the shorts out.

Oh, well.  Better luck next time!


Tue, 11/06/2012 - 00:05 | 2950888 Yen Cross
Yen Cross's picture

Orly I don't know what you are talking about?

I shorted a/u last Thursday and closed out Friday at the close. I saw the weakness in the euro late last week 200 day average. It would have been pointless to trade e/a with the rate decision coming up tonight. The RBA held @ 3.25%.

Now I'm going to short a/u again. I also shorted u/j earlier today, as It looked like a good setup on the 4 hour chart and Japan seems to be getting it's debt ceiling issues in order. I'll watch u/j over the next few days to see how the dollar and crosses perfprm against it. My short is in the money about 25 pips with a tight trailing stop on it.

Mon, 11/05/2012 - 22:37 | 2950697 tooriskytoinvest
tooriskytoinvest's picture

DOLLAR CRASH IMMINENT: We’re Witnessing An Unprecedented Moment Where Countries Lined Up Demand Return of Their Golds Reserves While Central Banks Around The World Are Anticipating Unlimited Money Printing





Mon, 11/05/2012 - 22:53 | 2950726 Orly
Orly's picture

Sorry, but it seems that your sentiment is 180 degrees out of phase.


Mon, 11/05/2012 - 23:43 | 2950832 nevket240
nevket240's picture


hopefully not to many parasites, sorry, bankers, get sleep once this sort of action gathers momentum


Tue, 11/06/2012 - 00:55 | 2950973 jackinrichmond
jackinrichmond's picture

funny how canada's gold disappeared about the same time the IMF was "helping" them sort out their finances.

i wonder which prime minister was responsible..  probably the same guy doing cash deals in hotel rooms with international gangsters.

Tue, 11/06/2012 - 03:14 | 2951098 jimmyjames
jimmyjames's picture

i wonder which prime minister was responsible..  probably the same guy doing cash deals in hotel rooms with international gangsters.


When Irish Eyes Are Smiling


Tue, 11/06/2012 - 10:32 | 2951536 jackinrichmond
jackinrichmond's picture

funny :)

i'd say his name, but i have to spit immediately afterwards.

Tue, 11/06/2012 - 04:19 | 2951128 fijisailor
fijisailor's picture

"Regarding gold bullion, we continue to hold it in our portfolios whichnaturally allows us to sleep very well at  night."

And in what form might that be?  Perhaps paper chits?

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