Sense And Nonsense

Tyler Durden's picture

Select examples of what the title suggests, courtesy of Edelweiss Holdings

“‘Devaluing a currency,’ one senior Federal Reserve official once told me, ‘is like peeing in bed. It feels good at first, but pretty soon it becomes a real mess.’”

—Francesco Guerrera, The Wall Street Journal, 4 Feb 2013.


“Any perception of our wavering in our commitment to sound money would undermine our ability to sustain stimulus.”

—Headline on 26 February 2013 quoting Bank of England’s Paul Tucker. We suspect that what he meant was that fraud only works for the fraudster so long as victims don’t see they are being defrauded.


“Being downgraded by Moody’s is like being called a moron by a moron.”

—Tim Price, “End of Empire,” 25 Feb 2013.


“Understanding that in a market economy a person can only get rich by enriching others torpedoes claims to the moral high ground of those who propose that government redistribution of wealth is a means to alleviate poverty.”

—Manuel F. Ayau, Not a Zero-Sum Game: The Paradox of Exchange (2007).


“I abandoned free market principles to save the free market system.”

—George W. Bush, interviewed on CNN on 16 December 2008.


“Somebody like Paul Krugman, who’s overdosed on mathematics and uses the King’s English better than practically anyone alive is very dangerous.”

—Charlie Munger, Daily Journal Corp Annual Meeting, 6 Feb 2013.


“It is easy to make a buck. It’s a lot tougher to make a difference.”

—Tom Brokaw


“It is more than passing curious that those in the university community who are most heavily addicted to diversity cannot tolerate it when it comes to divergence of opinions, conclusions, public policy prescriptions, etc.”

—Walter Block, Building Blocks for Liberty (2006).


“There’s all kinds of myths and pseudoscience all over the place. I may be quite wrong, maybe they do know all these things, but I don’t think I’m wrong. You see, I have the advantage of having found out how hard it is to get to really know something, how careful you have to be about checking the experiments, how easy it is to make mistakes and fool yourself. I know what it means to know something, and therefore I see how they get their information and I can’t believe that they know it. They haven’t done the work necessary, haven’t done the checks necessary, haven’t taken the care necessary. I have a great suspicion that they don’t know, that this stuff is [wrong] and that they’re intimidating people.”

—Richard P. Feynman, The Pleasure of Finding Things Out (1999).


“The euro should not fluctuate according to the mood of the markets. A monetary zone must have an exchange rate policy. If not, it will be subjected to an exchange rate that does not reflect the real state of the economy.”

—French President François Hollande to the European Parliament, 5 February 2013.


“We all know what to do, we just don’t know how to get re-elected after we have done it.”

—Jean-Claude Juncker, prime minister of Luxembourg, in a moment of candor. Quoted in Th e Economist, 15 Mar 2007, and worth pondering when politicians wonder why no one trusts them.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Stoploss's picture




Daylight savings time's a bitch aint it.

aint no fortunate son's picture

can the vix go negative like interest rates?

bernanke ain't pissing in bed, he's crapping in it

FL_Conservative's picture

In that case, Bernanke has lost all control over his bladder and sphincter muscle, if he ever had one.

Nihilarian's picture

Containing money printing/inflation in an economy is like isolating pee in a pool.

hedgeless_horseman's picture



Despite these warnings, Woodrow Wilson signed the 1913 Federal Reserve Act. A few years later he wrote:


I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.


-Woodrow Wilson

hedgeless_horseman's picture



“The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.”


-The Rothschild brothers of London writing to associates in New York, 1863.

hedgeless_horseman's picture



The real truth of the matter is,as you and I know, that a financial
element in the large centers has owned the government ever since
the days of Andrew Jackson...


-Franklin D. Roosevelt

falak pema's picture

well at LEAST he was honest. I don't hear Obammy saying that; whereas he pretends to be of that political pedigree now living in simillar crisis, whch according to him doesn't exist! 

SafelyGraze's picture

"‘Devaluing a currency,’ one senior Federal Reserve official once told me, ‘is like peeing in bed. It feels good at first, but pretty soon it becomes a real mess.’”

not so bad once you've gotten used to it.

-the gidster


akak's picture

I think Gideon's pool must have consisted of 99.9999% urine by the end of his little Zimbabwean printfest.


A poolside sign I would like to see:

"Central Banksters: We don't print in your toilet, so please don't pee in our (currency) pool".

silverserfer's picture

 Ruprect the FED monkey boy "Excuse me may i please go to the bathroom? Athank you!"

Not My Real Name's picture

To be is to do. - Socrates

To do is to be. - Sartre

Do be do be do. - Sinatra

Yabba dabba do. - Flintstone

Doo doo? What doo doo? - Bernanke

falak pema's picture

awesome time line in regressionary onomatopoeia.

WmMcK's picture

Do be a do bee - Romper Room

archon's picture

When I read this, I see that these globalist control freaks really do know, deep down, that what they're doing is wrong, but they do it anyway because their inner control freak prevails over common sense and whatever moral values they may hold.  F*ck Woodrow Wilson.  There may be millions of people who willdie in the US and around the world because of him.  I hope he rots in hell for what he did, and he deserves worse than that.  He is the man most directly responsible for the hundreds of millions of people whose lives are misery, full of pain, and enslaved to the State.

AGuy's picture

"bernanke ain't pissing in bed, he's crapping in it"

One slight correction: He's not crapping in his own bed, He crapping in everyone else's bed.


4realmoney's picture


SafelyGraze's picture

good find

people are buying up mint boxes. repainting them. adding a bathroom. then flipping them.

realtick's picture

"When the going gets weird, the weird turn pro" HST

AccreditedEYE's picture

And Ben Bernanke will have dominion over all life on this Earth.. even unto the ending of the world. The time of Free-Markets is over.

upWising's picture

"It's tough being a cynic these days.  It's so much work to keep up."

–Lily Tomlin

Mercury's picture

You forgot one:

Dallas owner Mark Cuban, on Dennis Rodman meeting with North Korean leader Kim Jong-un: "Who knows if it has any staying power, but it's certainly not a negative. When I think of world peace I think of Rodman."

Oldwood's picture

Yes, peacefull, thats what I think of when hearing Rodman's name mentioned. He's probably hoping for an ambassador's position from Obama. You think he will get Lybia?

redpill's picture

You never know if that guy's being sarcastic or not!

William Murderface's picture

When I think of world peace I think of Ron Artest.

RealFinney's picture

When I think of world peace I think of Ron Jeremy.

Pareto's picture

I abandoned free market principles to save the free market system, fully and completely sums up everything that is wrong with government, its methodology, and its morality.

McMolotov's picture

"A government is a body of people, usually — notably — ungoverned."

—Shepherd Book, Firefly

Dr. Richard Head's picture

"We abandoned the principles of liberty and individual rights to save the Bill of Rights." - Insert Any President Here

ParkAveFlasher's picture

"It's good to be the king." - Mel Brooks

sdmjake's picture

"The time for honoring yourself will soon be at an end."

-Maximus Decimus Meridius

NoDebt's picture

Selling stupidity and self-delusion is easy.

- NoDebt

redpill's picture

Listening to him talk about physics is a reminder why philosophy is often known as the "mother of all science."  How we think about things is as important as what we think about them, for if we don't think about them in the right way, our conclusions are nothing more than wild guesses, regardless of how accurate the facts may be.  The best scientists in any field have a strong philosophical streak in them to be sure.

Hulk's picture

Its turtles all the way down fuu...

fuu's picture

I thought there were elephants involved too.

CheapBastard's picture

Mr Ben Escolar Bernank, Master of Anal Leakages.

americanspirit's picture

The big faux Tuna - that's our Uncle Ben. And that would be "prolonged, uncontrollable anal leakages" if I recall the study correctly. Hard to master.

fonzannoon's picture

"Unlike conventional war, in a currency war, the goal is to actually kill yourself"

- Schiff

McMolotov's picture

"Never go full retard." —Kirk Lazarus

Quinvarius's picture

You are supposed to believe it is little pieces of paper and digits.  You have to work for them.  Everyone else gets as many as they want for free.  Imagine what would happen if Alf Pogs were used as money, but the people at the Alf Pog factory made them all night for themselves.  That is pretty much our system.

kridkrid's picture

It's sometimes too much to handle... the knowledge that this thing that holds together our global economy and therefore, more or less, our existence as we know it, MONEY itself is so completely misunderstood. If you were to ask someone "what is money... I mean what is it really, why does it have value... will it always have value... if not, why not". I would guess that 99 out of 100 have never given a moments thought to this question. Faith.

JustObserving's picture

Devaluing your currency by 10% is like burning 10% of your money.  It may feel good to a crackpot bankster but never to an ordinary citizen. The wages of profligacy is always poverty


falak pema's picture

devaluation is only valid when you need to buy a strategic asset from abroad which makes your money worth less; so you devalue hoping that the xtra competivity will generate more xports than the xtra costs of imports. It MEANS THAT THE DEMAND ELASTICITY for YOUR EXPORTS IS HIGH in terms of price, AND GENERATES SURPLUS MARGIN BEYOND THE 10% XTRA COSTS OF IMPORTS.

When your products for xport  have much price elasticity go for deval, if they dont cut back on imports...Of course, in times of crisis the pie shrinks and leads to competitive deval which makes it worse. 

So your export markets have to be dynamic and not subject to competitive deval logic. The BRICs today are more or less in that position and thats why the chinese will have a competitive advantage IF THEIR MARKETS AND THEIR SURROGATE PARTNERS IN ASIA CAN KEEP THEMSELVES ISOLATED FROM FIRST WRLD MELTDOWN; WHICH IS NOT EVIDENT...until it becomes more so or the inverse...

Dr. Engali's picture

Shit happens


AGuy's picture

"Forrest Gump?"


"Quantative Easing is like a Tom Hanks Movie, Once you seen one of his movies you pretty much know how the rest will end."