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Sense And Nonsense
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.
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POMO!
POMO!
POMO!
Daylight savings time's a bitch aint it.
can the vix go negative like interest rates?
bernanke ain't pissing in bed, he's crapping in it
In that case, Bernanke has lost all control over his bladder and sphincter muscle, if he ever had one.
Containing money printing/inflation in an economy is like isolating pee in a pool.
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!
"‘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
http://en.wikipedia.org/wiki/Gideon_Gono
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".
Ruprect the FED monkey boy "Excuse me may i please go to the bathroom? Athank you!"
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
awesome time line in regressionary onomatopoeia.
Do be a do bee - Romper Room
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.
"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.
BREAKING NEWS! US MINT IS NOW ON ALLOCATION AGAIN. ALLOCATIONS ARE DOWN 20% LAST 2 WEEKS. RUMOR IS THE US MINT IS HAVING TROUBLE SOURCING BLANKS. APMEX HAS RAISED PRICES, TEXMETALS AS WELL, UP $0.50/OZ: https://www.texmetals.com/silver-eagle-monster-box.html
good find
people are buying up mint boxes. repainting them. adding a bathroom. then flipping them.
"When the going gets weird, the weird turn pro" HST
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.
"It's tough being a cynic these days. It's so much work to keep up."
–Lily Tomlin
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."
http://articles.latimes.com/2013/mar/09/sports/la-sp-nba-quotes-20130310
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?
You never know if that guy's being sarcastic or not!
When I think of world peace I think of Ron Artest.
When I think of world peace I think of Ron Jeremy.
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.
"A government is a body of people, usually — notably — ungoverned."
—Shepherd Book, Firefly
"We abandoned the principles of liberty and individual rights to save the Bill of Rights." - Insert Any President Here
"It's good to be the king." - Mel Brooks
"The time for honoring yourself will soon be at an end."
-Maximus Decimus Meridius
Selling stupidity and self-delusion is easy.
- NoDebt
Loves me some Feynman.
https://www.youtube.com/watch?v=XGK84Poeynk
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.
Indeed.
Its turtles all the way down fuu...
I thought there were elephants involved too.
Mr Ben Escolar Bernank, Master of Anal Leakages.
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.
"Unlike conventional war, in a currency war, the goal is to actually kill yourself"
- Schiff
"Never go full retard." —Kirk Lazarus
What IS money?
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.
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.
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
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...
Psuedo-science....
Like the attempt that was deconstructed here:
https://tamino.wordpress.com/2013/03/08/back-to-school/
and followed up upon here
https://tamino.wordpress.com/2013/03/09/ice-cover-is-not-stabilizing/
Shit happens
Unknown
Forrest Gump? http://www.youtube.com/watch?v=edmqTODMZC4
"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."
"There are only two things that are infinite; the universe and human stupidity. Although I am not certain about the former."
Albert Einstein
I thought the quote was more like: "The difference between intelligence and stupidity is that intelligence has it's limits."
Actually we are both correct. Einy had much to say about intelligence, science(obviously) and ethics.
Read the biographies on this man. Fascinating stuff. He spent the remainder of his old age lecturing at universities on philosophy and ethics. He considered philosophy to be one of the most important topics. He warned the young bucks at these prestigious universities about the need for religion in science and science in religion. He told them not to just rely on the mathematical calculations, but logic needed to be applied as well. He warned them that if they do not apply these principles, they are then subjected to making logical errors.He was a very wise man. The older, the infinitley wiser.
"This planet has - or rather had - a problem, which was this: most of the people living on it were unhappy for pretty much of the time. Many solutions were suggested for this problem, but most of these were largely concerned with the movements of small green pieces of paper, which is odd because on the whole it wasn't the small green pieces of paper that were unhappy." Hitchhiker's Guide to the Galaxy, Douglas Adams
"Tip toe through the tulips (mania)". - Tiny Tim
"There is no real estate bubble." - Ben Bernanke
We must fight to run away.
Jack Sparrow.
"When did they change it to opossum, yo? What's up with that? When I was coming up, it was just possum, why do they always have to keep changing things? Sounds Irish, opossum..."
- Jesse Pinkman
Feynman's quote, "I have a great suspicion that they don’t know, that this stuff is [wrong] and that they’re intimidating people". - I think is an example of a blindspot that too many people have. Because I care if my position is right or wrong, I assume that other people also care about their positions. It leaves us to wonder how it is they came to this "truth". The truth... for many there is no such thing as truth, or right vs. wrong, only the advancement of some position or agenda. If they stumble upon some truth along the way, OK... but it's only valuable if that truth advances an agenda. And the agenda doesn't have to seem like evil... and could likely be easy to justify. But we should never assume that anyone actually stands for "truth".
Im going home tonight and gonna give that peeing in bed a shot after lots of shots and beer.Bet ya ill hang in their.
Also, when countries print money it is like peeing in the shower, everyone does it but no one admits to it.
When I was in Iraq, it was kind of expected to pee in the shower. At least that's what I told the upset soldier who was showering at the time.
It's also like peeing in dark clothing --
at first no one notices and it gives a warm feeling ...
but later it's quite a mess.
Telling the truth is treason in an empire of lies.
- Ron Paul
Less is More.
We get Less and it costs More.
-T Alexander Anderson
I'm from the government and I'm here to help.
Fuck off!!!
Ah, come on! I just want to help! Let me take that nasty Big Gulp out of your hand before you hurt yourself. And God knows, please lay down that weapon, it could accidentally go of and BANG!.............I just wanted to help..
My definition of money is something that is transportable and acceptable as value both through time and across borders. Coincidentally only gold and silver fit this definition best.
Pissing the bed? Try shitting the bed! We know the unnamed "Federal Reserve official" is not the the bearded one, as the Bernank is a bed shitter of the first order.
A bank's assets (loans and derivatives) are like Schrödinger's pussy. You don't know it's alive or dead until you open the box, and if you leave it too long to find out, it will stink up your house.
-Me
Always thought she was a guy. Man is my face red right now.
LOL! Brilliant mate. Thanks for that! My sides are hurting from laughing. We ought form a comedy duo.
so who is the woman in the box?
Lol +1
lol
"Love is a snowmobile racing across the tundra and then suddenly it flips over, pinning you underneath. At night, the ice weasels come."
- Matt Groening
“‘Devaluing a currency,’ one senior Federal Reserve official once told me, ‘is like peeing in bed...'"
Why does a Federal Reserve official know so much about bed wetting? That really disturbs me.
I suspect that pretty soon they are all going to become very familiar with shitting in their pants as well.
That wet the bed quote is James Joyce.
Here is an interesting piece I pulled from Seeking Alpha last night. I've been trying to get my head around the next move in the $. This offers some insight, although I don't completely agree with all it's content. (Lot's of variables that aren't mentioned) I hope it helps readers a bit.
What Everyone Must Know About The U.S. Dollar: Sea Change Coming? - Seeking Alpha
FEYNMAN has it pegged.
Anyone interested in the BOEING shit should read his investigation of the CHALLANGER.
He asked the engineers the odds of a shuttle failure and they came back with 1-75, 1-100.
He asked management and they came back with 1-100,000.
Guess who had the last word?
an adult talking about peeing in bed; what is the world coming to?
Are we all falling into forced infancy to avoid senility?
One quote here brings the issue of market manipualtion into focus :
Can the oligarchy markets make the sovereign spreads go ballistic by coralling the weaker economies, by using massve bullying/psychological tactics based on millions of $??
Is the attack on the Italian bonds, in line with rational markets when they don't attack the £ or the USD spreads on bonds, whereas their deficits and debts are worse?
Or is it ZIRP fed shadow banking plays of huge power that can make black look white: its called American night, and François Truffaut made a film about it; its Hollywoodian sleight of hand now maybe learned by the WS crowd for financialista transposition of deep night into broad daylight; or vice versa. Some empires just make the rules....and bend them when they want to.
We live in a world of mirrors, like in LAdy from Shanghai.
La Nuit américaine (film) - Wikipédia
"I wish someone would give me one shred of neutral evidence that financial innovation has led to economic growth — one shred of evidence."
Paul Volcker, former Federal Reserve Chairman / Patrick Hosking and Suzy Jagger, The Times, December 9, 2009
"The probability of an event occurring is in inverse proportion to its desirability."
"Licensed to kill gophers, by the government of the United Nations"
Carl Spackler
Feels good at first? So that's the kind of people we are dealing with here -- bed wetters!
I have changed a diaper or two in my day -- guess that explains why I left the land of fiat and entered the gold and silver realm (a man gets tired of dealing with sheet)
--Songwriters: BERGE STRAND, ANNE LILA / POWELL, TIM / COOPER, MIRANDA / HIGGINS, BRIAN / COLER, NICK
What version of Black Sabbath were those guys??
"I have to protect this family from the man who protects this family."
- Skylar White
+Infinity
bernank is WAY beyond that... he just squeezed out a big Soetero... UgggggHHH!! the Stench!!