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And The Award For The Most Creative Excuse For Joining Currency Wars Goes To...

Tyler Durden's picture


Submitted by Alexander Gloy of Lighthouse Investment Management,

... the Bank of Israel!

On Monday, Bank of Israel cut interest rates in a surprise decision to 1.5% from 1.75%.
Also, they are done with watching the Shekel strengthen against the dollar:

“Beginning this year, and in coming years, the Bank of Israel will purchase foreign exchange in order to offset the effect of natural gas production on the exchange rate.”

Hilarious! The BoI tries to ‘justify’ entering the global currency wars with natural gas production. A top contender in Central Banking Oscar’s for “Most creative excuse for FX manipulation”!
The Q&A brought up a critical question (not the kind of soft balls lobbed at ECB and the Fed by corrupt and incompetent journo’s):
Q: “According to your policy, you only purchase foreign exchange when the exchange rate deviates from fundamental economic conditions or when there are disorderly markets. The production of natural gas is a real economic factor which is fundamental and long-term. Why offset its effect through foreign exchange purchases?” 
A: “Natural resources are a blessing for Israel’s economy. However, international experience shows that sometimes the discovery of natural resources can have negative effects on the economy, often referred to as ‘Dutch diseases’. The goal of the policy announced is to offset these detrimental effects.”

The rate cut and announcement of FX interventions apparently could not wait for another 2 weeks, until the next scheduled meeting, fueling speculation something more sinister was going on. From the Q&A:

Q: “The last time the Bank of Israel made an inter-meeting rate decision was after the collapse of Lehman Brothers, at the height of the global crisis. In two weeks you were scheduled to decide on interest rates in any case. What do you know that did not allow you to wait?”


A: “Recently, crucial information became available which was the basis of the decision. Central banks reduced interest rates and continue large scale quantitative easing. These intensified the appreciation pressures on the shekel.”

Infamously, the BoI last year bought a position in Apple stock (around $550) and suffered deep book losses. Apparently they haven’t learned anything and will continue to play in “longer-term assets with higher expected returns”:

”The foreign exchange reserves are invested in liquid assets so that they can be utilized in times of crisis. The foreign exchange flows which will accumulate as a result of this policy will be invested in longer term assets, with higher expected returns.”

What kind of assets are those? With fixed income, your return is known at time of purchase. Talking about “expected returns” means anything but fixed income, or things like equities, commodities, private equity or hedge funds. Good luck!

You got to love the fact central bankers are beginning to believe in the bubble they helped to create!

What’s next – the Swedish Riksbank entering currency wars due to the discovery of a large number of blonde au-pairs?




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Mon, 05/13/2013 - 18:10 | 3558226 Divided States ...
Divided States of America's picture
Mon, 05/13/2013 - 18:16 | 3558251 THX 1178
THX 1178's picture


Mon, 05/13/2013 - 18:20 | 3558270 McMolotov
McMolotov's picture

Slang for Manischewitz wine?

Mon, 05/13/2013 - 18:44 | 3558360 iDealMeat
iDealMeat's picture

"Jesus" Tylers..  Just begging francis to test the racists policy...

Mon, 05/13/2013 - 18:52 | 3558380 Ahmeexnal
Ahmeexnal's picture

Why people blame O.J. Simpson for everything is something I will never understand.

Mon, 05/13/2013 - 19:39 | 3558537 BigJim
BigJim's picture

 Submitted by Alexander Gloy of Lighthouse Investment Management

Gloy! Sounds like... Goy! 

Mon, 05/13/2013 - 18:59 | 3558392 francis_sawyer
francis_sawyer's picture

Once again... [& this is a 'common' error]... You've mistakenly interpreted former francis_sawyer comments to be 'racist'...


Nothing of the sort... If you do your due diligence [which FEW are apt to dedicate time & effort to]... You'll notice that, repeatedly, I've said:

"RELIGION. HAS. NOTHING. TO. DO WITH. IT."... [even as a 'defense', on behalf of the 'religious' folks, as others were foaming at the mouth]...

But y'all are free to hem & haw as you may [in the postscript]...

Mon, 05/13/2013 - 19:40 | 3558540 BigJim
BigJim's picture

Francis, if you get banned... will you be returning with another alias?

Much as I abhor racism, I do wonder if this new ZH 'racism' ban is the beginning of the end of our beloved ZH.

Mon, 05/13/2013 - 19:53 | 3558576 TwoShortPlanks
TwoShortPlanks's picture

The best posters have opinions. ZH will turn into a circle jerk with petty rules.

Let the bloggers do the culling.

Mon, 05/13/2013 - 20:06 | 3558615 francis_sawyer
francis_sawyer's picture

I'm not worried about any 'bans'... because, since this past weekend, I've 100% committed to the NEW RULES... [which ANYONE, with due diligence, can verify]...


So at this point... If I ever get 'BANNED'... It'll be because of some 'yet to be determined' discernation [by the office of the INTERPRATIVE PRE-CRIME unit which chooses to fabricate ANY meaning out of anything I say]... Which, by happenstance, would either render this forum a total farce [which I wouldn't go as far as to say, because I truly believe the Tylers can publish relative news through 'thick or thin', but, instead, would render half the commentary a farce], OR, more precisely... Would serve to PROVE that the 'dead horse' that I have been beating for a long time now, was a worthy cause...

Mon, 05/13/2013 - 21:35 | 3558880 prains
prains's picture

the horse has definitely had a spanking

Mon, 05/13/2013 - 20:33 | 3558702 EscapeKey
EscapeKey's picture

Hey, lowest common demoninator. How are you?

Tue, 05/14/2013 - 06:36 | 3559546 TwoShortPlanks
TwoShortPlanks's picture

Hahaha...looking at the number of thumbs down on some of your posts, you're about as popular as a 3am stomach pump at Calcutta Hospital. Better lift my game.

Mon, 05/13/2013 - 21:16 | 3558821 noless
noless's picture

God fucking damn it Francis, if religion has nothing to do with it, then by logical extension are you implying that a specific group of people who can be identified racially are behind something? And if so, do you mean the entire diaspora? I'm fairly certain that the Jews i grew up with did not engineer the current system.

I will not debate Israels place in the matter, nor the proximity and density of "Jews" to the system, but if you are to equate a racial identification to the matter without realizing or rationalizing as to specifically who, without broad strokes which paint innocent men as victims then i cannot support your statements.

Do you understand me?

Mon, 05/13/2013 - 22:04 | 3558987 noless
noless's picture

Just to comment lock it, there are many faiths which believe others below their own. I honestly can't believe i was down voted for not favoring a mob scene, reminds me of occupy, i wonder if that poor fucker lived, mobs ain't fun people, especially when you are a voice of reason.

I'm still not in favor of the policy.

Tue, 05/14/2013 - 12:35 | 3560965 Mojeaux18
Mojeaux18's picture

I up voted you, but you know...I'm one of them that engineer this from my computer and twitter acct and my 5 digit bank acct. /sarc

Mon, 05/13/2013 - 19:48 | 3558558 TwoShortPlanks
TwoShortPlanks's picture
Mon, 05/13/2013 - 18:18 | 3558263 Fuku Ben
Fuku Ben's picture

Uh, I'm certain that's a typo and you meant Juice

He's back in court today

Mon, 05/13/2013 - 18:18 | 3558264 NotApplicable
NotApplicable's picture

Testing the raycisss ban hammer, are we?

Mon, 05/13/2013 - 21:04 | 3558783 Raynja
Raynja's picture

i can see why the tyler(s) implemented the no rayciss policy, i mean that was obviously what was holding the site back from going mainstream.  

Mon, 05/13/2013 - 22:05 | 3558989 ceilidh_trail
ceilidh_trail's picture

"I can see why ABC Media implemented the no rayciss policy..."- fixed it for ya!

Mon, 05/13/2013 - 22:51 | 3559096 TheFourthStooge-ing
TheFourthStooge-ing's picture

ABC is a pretty generic moniker. Take a look in your local phone book.

I'm pretty sure that ABC Media, LTD., is not related to the American Broadcasting Company  (a division of Mousketeer Eternal Copyright Perpetuation Inc.), the Australian Broadcasting Corporation, or Asahi Broadcasting Corporation.

Mon, 05/13/2013 - 18:19 | 3558267 McMolotov
McMolotov's picture

Also movie-making.

Mon, 05/13/2013 - 18:21 | 3558275 Divided States ...
Divided States of America's picture

And ponzi scheming.

Mon, 05/13/2013 - 21:37 | 3558889 prains
prains's picture

is this the fonz on waterski moment? cue the shark.......

Mon, 05/13/2013 - 19:00 | 3558347 EscapeKey
EscapeKey's picture

I don't really believe in this "jew conspiracy", partly because it's just another trivial scapegoat. I mean, ffs, when was the last time anyone was willing to take responsibility for anything? Oh I know, it's easier just to blame some other group of people.

Although I suppose it can be considered slightly ironic, because living in Western Europe, I do think immigration is completely out of control.

edit: OMG I'm being downvoted I better blame teh jews. Pathetic. Fuck it, I'll downvote myself.

Tue, 05/14/2013 - 00:59 | 3559296 tango
tango's picture

The whole Jew conspiracy is so..juvenile yet predictable. It's part of the human condition - blaming others for events beyond our control. The difference between them and those of the Middle Ages is the subject - financial, national & economic disaster vs disease, famine & earthquakes.

Despite tremendous scientific progress, when troubles arise we rush to blame ancient enemies - race, religion, ethnicity. After all, it's only human.

Tue, 05/14/2013 - 02:54 | 3559392 Element
Element's picture

Yeah, I agree, it has absolutely nothing to do with them infesting every part of Govt, Banking and Treasuries pretty much everywhere in the whole western world. It's obviously crazy to think that might be a factor. It's a despicable fantasy that targets completely innocent people. There is no mass corruption and theft going on in any of those contexts, and nor is foreign policy affected in the lest. It's all scurrilous insanity.

Mon, 05/13/2013 - 18:41 | 3558349 kito
kito's picture

careful divided states...your overeaching and broad attack on a group of people doesnt reflect much insight........i may revoke that bar mitzvah invitation......

Mon, 05/13/2013 - 18:49 | 3558373 fonzannoon
fonzannoon's picture

Kito I am impressed with how well you put up with this. When I was a kid I used to pray to Don Mattingly. If everyone constantly attacked Don Mattingly I would have lost it a long time ago. Lucky for me they don't because he is perfect. But still....

Mon, 05/13/2013 - 19:00 | 3558411 kito
kito's picture

although im not remotely observant as a jew............its getting irksome.....and its gotten much worse since i joined....ive been here over 2 years and there is a steady drip of joo bashers into zh............and i would wager that there is a sizeable number of jewish contributers to this site......and yet they sit idly like a bunch of pussies and ignore the hate and sad that those out there have no backbone to speak up.......................the ones that say nothing are actually worse than the ones who offend.........................

Mon, 05/13/2013 - 19:08 | 3558440 fonzannoon
fonzannoon's picture

Good to hear you say that man. 

Francis I can't afford to stay in a hotel in the city anymore but my guess is a good one, on the weekend, is maybe $350 plus a night?

Mon, 05/13/2013 - 19:11 | 3558451 otto skorzeny
otto skorzeny's picture

blah blah blah-we're God's Chosen People and the rest of you aren't- blah blah blah- remember the Holocaust- blah blah blah-you're an anti-semite- blah blah blah- hey Congress- do what we at AIPAC say because we  fucking own your asses - blah blah blah-ad nauseum.

Mon, 05/13/2013 - 19:17 | 3558477 francis_sawyer
francis_sawyer's picture

@fonz... Whilst I understand numbers... "$" is an unfamiliar symbol with me... Could you please elaborate?...

Mon, 05/13/2013 - 19:25 | 3558499 kito
kito's picture

oh otto, just in time!!!! otto, was Jesus jewish??? does christianity incorporate the old testament into their worship??? are you christian?? how do you reconcile that? how do you wear a cross around your neck with a jew nailed to it? all these years and i still dont understand that mindset........please explain...rationally and without expletives......................

Mon, 05/13/2013 - 19:30 | 3558514 john39
john39's picture

Jesus was a Judean. 

Mon, 05/13/2013 - 20:26 | 3558586 nmewn
nmewn's picture

You saying he was a Syrian or what?


Apparently the Romans were just as confused as you, so they wrote it out in three different languages and hung a sign over His head.

Mon, 05/13/2013 - 21:07 | 3558793 KickIce
KickIce's picture

Does it really matter?  A more pertinent question would be is he the son of God or isn't he?  Savior or false prophet?  Choose your side and act accordingly.

Mon, 05/13/2013 - 21:40 | 3558900 nmewn
nmewn's picture

"Does it really matter?"

John, etal, seem to want to push the point and then run away.

For me He is the Son and I intend to act accordingly...but I can tell you right now, I ain't no saint ;-)

Mon, 05/13/2013 - 23:15 | 3559131 Divine Wind
Divine Wind's picture



Slow clap......

Outstanding comment.

Tue, 05/14/2013 - 00:56 | 3559291 StychoKiller
StychoKiller's picture

Then get thee hence, and alleviate some suffering:

Tue, 05/14/2013 - 01:16 | 3559317 TwoShortPlanks
TwoShortPlanks's picture


Nor am I...and just wait to you see what type of monster I turn into once the lights go out.

Lawyers, Exec Bankers, Politicians, Criminals.

Mon, 05/13/2013 - 20:04 | 3558608 FreeMktFisherMN
FreeMktFisherMN's picture

Jesus Christ is Lord. No one comes to the Father but through the Son. 

Mon, 05/13/2013 - 20:43 | 3558730 NihilistZero
NihilistZero's picture

I once saw a girl wearing a shirt that said "Jesus Was a Cunt".  Anyone have an opinion on her theory :-/

Mon, 05/13/2013 - 23:23 | 3559147 palmereldritch
palmereldritch's picture

The bumper sticker I saw on the back of a RH-drive 93 Nissan Skyline that said Jesus was a drifter was wittier...

Tue, 05/14/2013 - 02:25 | 3559363 Colonel Klink
Colonel Klink's picture

I think I just threw up in my mouth a little.

Mon, 05/13/2013 - 21:22 | 3558839 Harbanger
Harbanger's picture

"how do you reconcile that? how do you wear a cross around your neck with a jew nailed to it? all these years and i still dont understand that mindset........"

There's a name for it, I can't remember, but it's a misinterpretation that goes back to the middle ages.  It goes along the lines that those jews who didn't recognize him as the messiah are the ones that had him crucified, the others became christian.

Mon, 05/13/2013 - 19:32 | 3558520 TheEdelman
TheEdelman's picture

As the Krug sezs, "Its the cranky old men".  They are racist against everything/anything including rocks and unborn small insects.  Whereever there is racism there are small minds...right?  They (racist old men) are one of the downsides to ZH.  But its the pips premium paid for freedom of speech.  On the positive side, its easy to see where all the sub 100 IQ's are and skip over their posts.   

"It’s cranky old man stuff, the kind of thing you get from people who read Investors Business Daily, listen to Rush Limbaugh, and maybe, if they’re unusually teched up, get investment advice from Zero Hedge.  Sad.”  - The Krugman

Krug is techincally right.  But he erroneously (as usual) lumps everyone into one category and slanders.  Much like the media outlets.    

Mon, 05/13/2013 - 19:43 | 3558548 BigJim
BigJim's picture

I think ZH should ban ageists next.

Mon, 05/13/2013 - 21:19 | 3558831 fuu
fuu's picture

And fatists.

Mon, 05/13/2013 - 21:41 | 3558902 prains
prains's picture

for sure the Cheneyists

Mon, 05/13/2013 - 23:28 | 3559157 palmereldritch
palmereldritch's picture

That would be the fatistcatiststatistfascistsatanists

Tue, 05/14/2013 - 18:46 | 3562530 fuu
fuu's picture

Just call them assholes, it's faster.

Mon, 05/13/2013 - 20:44 | 3558734 Diogenes
Diogenes's picture

Did you ever notice that the Jew baiting and Survivalist baiting mainly occurred on the important threads and was obviously an attempt by someone to divert attention away from important discussuin and discredit the site? At least that's the way it started.

Mon, 05/13/2013 - 20:45 | 3558736 Jim in MN
Jim in MN's picture


Mon, 05/13/2013 - 21:13 | 3558811 KickIce
KickIce's picture

If people detested bankers (the real problem) as much as they did Jews we'd probably be out of this mess by now.  As usual, people go for the head fake and take their eyes off the ball.

Tue, 05/14/2013 - 00:54 | 3559286 StychoKiller
StychoKiller's picture

FWIW, anyone that "believes" they understand things so well that they can name a particular group as the tunnelers creating the rabbit hole(s) are deluding themselves.

Tue, 05/14/2013 - 01:12 | 3559314 tango
tango's picture

What's so sad about the whole "Jew" thing is how deeply it diminishes ZH's effectiveness and outreach. Reading about global conspiracies, Evil Jews or why the Founding Fathers were actually traitors gives rational people pause. A few years ago ZH had a reputation as a hard hitting economics More and more it is dismissed as a gathering site for weirdos and haters.

If you can't stop the group hate at least try and stay on subject instead of instantly starting a rant.

Tue, 05/14/2013 - 02:06 | 3559346 MedTechEntrepreneur
MedTechEntrepreneur's picture

Yes, Kitco. F_S who names himself after an adolecent genre movie character...he isnt an astute financial observer...just an IT boy suffering from an as yet diagnosed form of Antisocial Personality Disorder (ICD-10 ).  Regretably, ZH hasnt pulled the pin on him yet and he and like minded ill raised children (aka goyim) do show ZH in a bad light.  I came to ZH for sage analysis during what is obviously a collapse in Western Civilization and all I see on any thread that can possibly spun so, is Jew Hatred.  Come on Tylers, can we focus on the real?  Let these Jew Haters migrate over to Rense, DU, HuffPo or Kos Kidz...

Tue, 05/14/2013 - 02:26 | 3559365 resurger
resurger's picture


Mon, 05/13/2013 - 19:01 | 3558415 francis_sawyer
francis_sawyer's picture

So fonz & kito... I have a question...


How much does a 'decent' hotel room go for in Manhattan these days?

Mon, 05/13/2013 - 19:04 | 3558423 kito
kito's picture

why is it that i feel like im missing one of FS very-- oh very-- subltle messages here?????.........

Mon, 05/13/2013 - 19:09 | 3558444 fonzannoon
fonzannoon's picture

If you kind of missed it I totally missed it.

Is he a Pomophobe?

Mon, 05/13/2013 - 19:12 | 3558455 kito
kito's picture

our honeymoon fonz...our honeymoon.........

Mon, 05/13/2013 - 19:14 | 3558464 francis_sawyer
francis_sawyer's picture

I really, sincerely, wish you both the VERY BEST... All I really need to know is if the "registry" is at BBBY, Tiffany's, or otherwise...

Mon, 05/13/2013 - 19:17 | 3558476 fonzannoon
fonzannoon's picture

Francis we fully expect you to be there and to say a few words. You know that right?

Mon, 05/13/2013 - 19:23 | 3558481 francis_sawyer
francis_sawyer's picture

j/k [to both of you]... I'll be 'BOTH' of y'all's BEST MAN if need be... [& if you say your registry is 'Tiffany's', I'll invite a bunch of my 'celebrity' friends ~ which, oddly, I have many... & they 'mainly' only like me still because I told them, at some point in time, to fuck off ~ I'M NOT EXAGGERATING THAT STATEMENT ~ WEIRD]...

Mon, 05/13/2013 - 19:28 | 3558507 kito
kito's picture not gay.....NOT that there is anything wrong with it........................

Mon, 05/13/2013 - 19:35 | 3558528 francis_sawyer
francis_sawyer's picture

I don't care what your 'sexuality', or 'religion' is... Now ~ back to the GUEST list... I'm talkin... [initials]


M, KR, GH, KH, JLo [oops], PA, FF, TH, KS, PRN, D&GB, D&G, PM, SV, SB... Oh & a bunch of otheres you've prolly never heard of but someone else has... There's at least 8 "A-Listers" in that group...

To put it mildly ~ You'd need helicopter police...

Mon, 05/13/2013 - 19:52 | 3558574 kito
kito's picture

this is gonna cost a fortune...........

Mon, 05/13/2013 - 20:11 | 3558628 francis_sawyer
francis_sawyer's picture

That's gonna suck because all of them are 'gazillionaires'... But I can honestly estimate that only JLo & SB would say 'wtf'? & pitch in to help... [cept for Donatella Versace, who I failed to mention, she'd prolly go 4 it]...

Mon, 05/13/2013 - 20:26 | 3558679 kito
kito's picture

better to elope............

Mon, 05/13/2013 - 20:39 | 3558718 francis_sawyer
francis_sawyer's picture

CANTALOUPE TONIGHT... [Dad's got the car]...

Mon, 05/13/2013 - 20:46 | 3558739 kito
kito's picture


Mon, 05/13/2013 - 19:36 | 3558530 fonzannoon
fonzannoon's picture

yeah I am all set as well. But if it diverts away from the hatred....

Tue, 05/14/2013 - 09:34 | 3560067 Divided States ...
Divided States of America's picture
Mon, 05/13/2013 - 19:02 | 3558418 Thisson
Thisson's picture

Go fuck yourself.  Your commend adds nothing to intellectual debate here.

Mon, 05/13/2013 - 19:12 | 3558437 francis_sawyer
francis_sawyer's picture

Pardon me for saying this... But as of [timeline ~ 19:02], the posting 'TIMESTAMP' of your comment... There'd been ZERO in the way of 'intellectual debate' going on... But now that you've added "Go fuck yourself" to the cocktail... I'm pretty sure the brainacs shall emerge forthwith & turn this into an Ivy League worthy quorum...

Mon, 05/13/2013 - 23:40 | 3559183 MrPalladium
MrPalladium's picture

"The Jews are the masters of making excuses AND deceiving people."

Hell in some circles this would be taken as a compliment!

I wish my fellow wasps were "masters of making excuses and deceiving people."

Then perhaps we would not be in such a catastrophic decline.

Methinks that francis sawyer might be jealous.

Mon, 05/13/2013 - 18:12 | 3558234 TeamDepends
TeamDepends's picture

We have Dr. Krugman.  They have Doctors Shekel and Hyde...

Mon, 05/13/2013 - 18:13 | 3558236 gratefultraveller
gratefultraveller's picture

OT: Silver has a woodie...

Mon, 05/13/2013 - 18:15 | 3558246 Mojeaux18
Mojeaux18's picture

Bank of Israel's Governor is Stanley Fisher.  He served as thesis advisor to Ben Bernanke and Greg Mankiw.  I'm not joking. :|

Mon, 05/13/2013 - 19:04 | 3558422 francis_sawyer
francis_sawyer's picture

Do either of them belong to the 'Loyal Order of the Waterbuffaloes & CheesePopes'?... I only ask because my friends Fred & Barney want to know...

Mon, 05/13/2013 - 19:46 | 3558562 BigJim
BigJim's picture

What is this 'Cheesepopism' whereof you speak? Can I join? Is there Wensleydale?

Mon, 05/13/2013 - 20:21 | 3558665 francis_sawyer
francis_sawyer's picture

It's a 'small' club & you ain't in it...

Mon, 05/13/2013 - 18:17 | 3558248 Joe A
Joe A's picture

Isn't this a violation of ZH new racism rule? I mean come on, Israel and gas and finding that hilarious (okay, the article is not ZH's but still).

Mon, 05/13/2013 - 18:16 | 3558253 Fuku Ben
Fuku Ben's picture

This post is a trap

Mon, 05/13/2013 - 18:23 | 3558279 McMolotov
McMolotov's picture

You left off the </Admiral Ackbar> tag.

Was Admiral Ackbar a muslim Mon Calamari?

Mon, 05/13/2013 - 18:25 | 3558289 TN Jed
TN Jed's picture

Beats a 4chan trap.  Gigggity.

Mon, 05/13/2013 - 18:16 | 3558255 The Thunder Child
The Thunder Child's picture

Ban Bait?

Mon, 05/13/2013 - 18:24 | 3558280 IridiumRebel
IridiumRebel's picture

I literally said in my head that this thread is total "ban bait". Great minds think alike. I've defended certain peoples in other forums, but the right to liberty is much more important and for that matter we can scroll on by....just as folks do to Klan rallies and Nazi rallies that are tolerated.

Mon, 05/13/2013 - 20:30 | 3558691 They trynna cat...
They trynna catch me ridin dirty's picture

The bar should be whether you are expressing a legitimate--albeit unpopular--view, or are simply engaging in harassment or slur-slinging. 

Remember, the mass media paints anyone who is anti-welfare state and anti-tax tyranny as a "racist" anyway, and the more you deny it the more they laugh as you dig yourself into the sand just by playing their game.  Why let them dictate the terms of the debate and carry that here.

Mon, 05/13/2013 - 18:17 | 3558257 sitenine
sitenine's picture

I'm surprised excuses are even offered anymore. Why not just, "when in Rome.."?

Mon, 05/13/2013 - 19:36 | 3558526 The Swedish Chef
The Swedish Chef's picture

Considered their history it´s we can assume that the saying has another wording in Hebrew...

Mon, 05/13/2013 - 18:18 | 3558265 Goldilocks
Goldilocks's picture

I See Nothing - Sgt Schultz (0:35)

Mon, 05/13/2013 - 18:25 | 3558266 Theta_Burn
Theta_Burn's picture


US>Israeli subsidies not what they used to be..

What does Israel export again?

Mon, 05/13/2013 - 18:33 | 3558320 localsavage
localsavage's picture

They produce a large part of the worlds carbide cutters, tools and inserts for machining.  That shit is way overpriced for what it is BTW....  Shocking...I know

Mon, 05/13/2013 - 19:06 | 3558427 Thisson
Thisson's picture

Show me something for sale that isn't overpriced!  Socks 12.99.  Underwear $30.00.  T-shirts $40.00+  I can go on all day.

Mon, 05/13/2013 - 19:33 | 3558484 The Swedish Chef
The Swedish Chef's picture

I could tell you about a million things that are way underpriced in the wake of undervalued petroleum and 0% interest rates but as you apparently are the kind of guy that pays 13 bucks for a pair of socks my guess is you won´t listen...

Tue, 05/14/2013 - 03:16 | 3559412 francis_sawyer
francis_sawyer's picture

The only time half the people 'listen' around here is in the 'hopes' of divining if there was even the remotest possibility that you said something discriminatory... I find it rather funny, because the first thing they qualify their argument with is some kind of lofty ideal about intellectual debates [which, by saying, so, synthetically presumes them to be 'WICKIT SMAHT' ~ as if they attended one of those 'BASTIN STRANG' schools]... Then, the next thing off their keyboard is usually an expletive...


As I always say... It's non-stop comedy on the Hedge... That's why I come here...

Lastly... Those high 'prices' [listed above], for stuff are because 'cheesepopebux' [which print themselves out of thin air], are basically worthless [or, at minimum, on their way to becoming so]...

Mon, 05/13/2013 - 20:38 | 3558710 They trynna cat...
They trynna catch me ridin dirty's picture

I was just in a 99 cent store yesterday that was selling tons of new 100% cotton "B.U.M. Equipment" t-shirts for $2.99, men's hoodies and women's sundresses for $9.99.  Meanwhile, when you get tired of your old clothes and dump them into one of those "CLOTHING DONATION" boxes, they get sent back over to Africa in shipping containers where some shyster sells them back to the same Africans who made them before they were sent to America.  So you see little African kids running around with stained "NEW ENGLAND PATRIOTS SUPER BOWL CHAMPS 2002" t-shirts in 2013.  

After the dollar crash one or more zeroes are going to be added to all those currently cheap import prices here in America, provided that stuff isn't imported overseas to nations who still have real money to pay for it.

Mon, 05/13/2013 - 18:36 | 3558331 Z_End
Z_End's picture

US foreign aid back into the US electoral system perhaps?

Mon, 05/13/2013 - 18:51 | 3558378 nobodyimportant
nobodyimportant's picture

They export terrorism

Mon, 05/13/2013 - 19:23 | 3558480 The Swedish Chef
The Swedish Chef's picture

Quite a fucking lot actually. When you get preferential treatment by the big economies (EU&USA) you kind of want to build a strong export industry. In Sweden you have to watch out and be very careful if you don´t want to consume Israeli goods. Which we do no matter what, as our taxes pay for the *insert the part I can´t remember, guidance systems I think* of the JAS fighter jet BAE System is building for Sweden, made in Israel of course. 


And they export trouble. Or are the Arab countries doing that through immigration? Can´t really sort that one out, all I know is that we didn´t use to have riots over what happens in the Middle East...

Mon, 05/13/2013 - 18:20 | 3558272 Dr. Engali
Dr. Engali's picture

Well this post should put a lot of people on notice.

Mon, 05/13/2013 - 18:23 | 3558286 TN Jed
TN Jed's picture

I love my Naot's.

Mon, 05/13/2013 - 18:25 | 3558291 fonzannoon
fonzannoon's picture

Yeah this post is to collect the group for the outdoor cold weather FEMA camp.

Mon, 05/13/2013 - 18:23 | 3558281 NotApplicable
NotApplicable's picture

So, I just produced quantities of natural gas.

Should I go into the forex market?

Or see a doctor about my "Dutch disease?"

Mon, 05/13/2013 - 18:23 | 3558284 Atomizer
Atomizer's picture

Shalom brother currency debasement architects. May the best schuster unload first. The game of first to blink welcomes Israel to the participation playing arena..



Mon, 05/13/2013 - 18:29 | 3558309 Uncle Remus
Uncle Remus's picture

Who run Printertown?

Mon, 05/13/2013 - 18:56 | 3558396 ersatzteil
ersatzteil's picture

America as Blaster and Israel as Master? Works for me. I suppose the pigs producing the methane for power are us. Two walk in, one walks out!

Mon, 05/13/2013 - 18:59 | 3558404 Uncle Remus
Uncle Remus's picture

But, will Mel Gibson sign for the movie?

Tue, 05/14/2013 - 01:47 | 3559337 mberry8870
mberry8870's picture

I did notice you did not take my very serious demand for a request re:your incredibly snarky self absorbed repsonse to my post. Play time is now "go" time. It is far too late to delete. All I asked for was an apology. 

I promise no pysical harm. As for what others do that is beyound my control. 

Remember what every comes next at you was  "asked" for by you. I would accept my "invotation". I also have noted a remarkable lack of commenting after my "reqeust'

Your call completely. Ask and you shall recieve. 

I am coming mother fucker. I promise


Mon, 05/13/2013 - 18:24 | 3558288 IdeasRbulletproof
IdeasRbulletproof's picture

Beep, paging Francis Sawyer...

Actually I like to hear your rants on CHEESEPOPES. Maybe one day, they'll bring inspiration to all of us...;)

Mon, 05/13/2013 - 18:27 | 3558298 reTARD
reTARD's picture

I thought the same thing, LOL. Perhaps Alexander Gloy is Francis Sawyer.

I also read "natural gas" as "hot air" from the BoI.

Mon, 05/13/2013 - 18:32 | 3558318 IdeasRbulletproof
IdeasRbulletproof's picture

Or "flatulence"...

Mon, 05/13/2013 - 20:21 | 3558662 Scarticia
Scarticia's picture


4 wks 5 days says what?

Tue, 05/14/2013 - 13:00 | 3561095 IdeasRbulletproof
IdeasRbulletproof's picture

"4 wks 5 days says what?"

Glad to see someone's checking me out. I've been visiting this site well over a year and a half now and just now decided to join. Does that make me unworthy. Or howbout this... I sign up, and don't make a comment for over a year and a half, then comment now. Would that make u feel better? I bet u feel so much smarter than me now huh...

Mon, 05/13/2013 - 18:31 | 3558312 Temporalist
Temporalist's picture

I too have to admit, that even though FS said goodbye to ZH and then stayed, his term "Cheesepopes" is a winner. 

Mon, 05/13/2013 - 18:33 | 3558322 fonzannoon
fonzannoon's picture

I say goodbye to ZH and then stay every 15 minutes.


Mon, 05/13/2013 - 18:40 | 3558333 IdeasRbulletproof
IdeasRbulletproof's picture

That's usually the sign of either a good relationship. Or just good sex...

Either way....yeah, probably unhealthy.

Tue, 05/14/2013 - 03:36 | 3559421 francis_sawyer
francis_sawyer's picture



To solve the mystery of the 'CheesePope'...

About 20 years ago, my sister was playing in this mixed softball league, & one of the teams in the league was named the 'CheesePopes'... I think it derived from this ridiculously funny picture of this pope, decked out in full regalia, eating, or blessing a wheel of cheese or something... It was so obtuse & ridiculous, it would make everybody laugh on the spot [so I think the whole team got shirts with this image on it & they called themselves the 'CheesePopes']...

I don't think I'd ever thought of that until... this past weekend... on ZH... The thought of the 'CheesePope' T-shirt just flooded back into my conscious mind from outta nowhere, [like the Sta-Puft Marshmallow Man]...

In other words... From this moment forward "CheesePope" can mean anything you want it to mean... Different people will have different interpretations... Have fun sorting that one out...

Mon, 05/13/2013 - 18:26 | 3558295 CPL
CPL's picture

Means Israeli is hoping to push the FOREX trade, but against who?


Interest rates are weapons as much as a gun is.  Too low, you kill anyone with inventory to maintain that lends on a company line of credit.  Too high and you kill the stock market and cut the housing market's throat.  The question is can Israel with it's current economic mess sacrifice it's buying power in a world full of cheaper options to produce...well, anything.


I predict some wicked unemployment coming.

Mon, 05/13/2013 - 18:35 | 3558326 fonzannoon
fonzannoon's picture

CPL where u been? We've been lookin for you? Welcome back.

Was Truthinsunshine wherever you were?

Mon, 05/13/2013 - 21:41 | 3558905 andrewp111
andrewp111's picture

I predict bubbles. Bubbles, bubbles, and moar bubbles. The biggest bubbles in history. Then the final scene is No Exit - just like Carrie's prom, or Great White's final concert.

Tue, 05/14/2013 - 03:09 | 3559407 Urban Redneck
Urban Redneck's picture

They're coming late ot the currency war game.  He who ____s first, ____s best.  The interest rate option expires around 0%, so then what do they do?  The American, Swiss, or Chinese model?

Mon, 05/13/2013 - 18:28 | 3558304 Uncle Remus
Uncle Remus's picture

Wait - discovery of a large number of blonde au-pairs. Sounds extremist, not to mention conspiratorial.

I was sure the Dutch Anti-defamation League would have been all over this.

Mon, 05/13/2013 - 18:31 | 3558311 eatapeach
eatapeach's picture

"If anything, they should be rewarded."


Mon, 05/13/2013 - 18:32 | 3558317 irishlink
irishlink's picture

Maybe this move has something to do with a very expensive bed on the Goverent jet! Have to create a diversion or the US tax payer might FINALLY start to question the $ 2 billion spent on Israel every year.

Mon, 05/13/2013 - 18:34 | 3558323 Killer the Buzzard
Killer the Buzzard's picture

"Have a nagilah... in fact, have two nagilas."  Henny Youngman

Mon, 05/13/2013 - 18:45 | 3558363 jimmytorpedo
jimmytorpedo's picture

Have a nagilah?

I always thought it was Halva and Tequila.

NB No group, religion, race or affiliation was harmed in the making of this post.

Mon, 05/13/2013 - 19:02 | 3558419 Uncle Remus
Uncle Remus's picture

Take my keyboard...please.

Mon, 05/13/2013 - 18:50 | 3558374 The Swedish Chef
The Swedish Chef's picture

Here in Sweden we hear complaints everyday about the strong Krona, the low public debt (let´s not talk private debt, OK?) and how the government should abandon it´s 1% fiscal surplus goal to "boost the economy". 


So don´t give them any funny ideas, OK Tyler?


PS. Yeah, it´s like I´m living a keynesian nightmare. People, supposedly smart and educated people, are actually complaining about this. Swedish entry in currency wars comes early next year I´m guessing. DS.

Mon, 05/13/2013 - 19:39 | 3558538 Schmuck Raker
Schmuck Raker's picture

That's the best part of currency wars, if you don't join - you LOSE.

Mon, 05/13/2013 - 18:52 | 3558379 JenkinsLane
JenkinsLane's picture

Now, are you telling me that's not worth twenty shekels?

Mon, 05/13/2013 - 18:55 | 3558387 ersatzteil
ersatzteil's picture

I can't help but read the author's name as Alexander Goy.

Mon, 05/13/2013 - 19:00 | 3558408 The Swedish Chef
The Swedish Chef's picture



Tue, 05/14/2013 - 05:14 | 3559489 e-recep
e-recep's picture

then it is OK to steal from him.

Mon, 05/13/2013 - 18:59 | 3558405 DIgnified
DIgnified's picture

Rumormill:  Trillions Of Dollars Coming Back To The US!

Mon, 05/13/2013 - 19:15 | 3558471 DUNTHAT
DUNTHAT's picture

Major Currencies' BreakDown and Analysis of Commitment Of Traders Report ....


Currencies at

Mon, 05/13/2013 - 19:23 | 3558496 A. Magnus
A. Magnus's picture

People who blame Jews for all the evils of the world are really saying:

1) They're functionally stupid, therefore the 'crafty, evil joos' take advantage of them at every turn

2) They're ignorant about the reason WHY 'joos' were allowed to become bankers in the first place - so that Christian monarchs could enjoy the benefits of usury without having their morality impinged; also, it helps to have an easy to identify scapegoat when things go wrong

3) They would rather resort to 70 year old propaganda sponsored by the same 'joos' they hate rather than actually using their fucking brains to think for a change...

Mon, 05/13/2013 - 19:53 | 3558580 BigJim
BigJim's picture

Surely anti-semites* could dislike Jews AND know why they became adept at finance (No. 2)?

*I LOVE that term! 'Anti-Semites'... as if Jews are the only semites.

Mon, 05/13/2013 - 23:33 | 3559171 foolbar
foolbar's picture

'follow the money'


hitler demonized and robbed the jews because they had the 'money'


They had the money because they're smart and value education.


Today the average ameriKKKan is an idiot, in front of a TV, ...


Got to have a scape-goat, everytime,


Today the USA rob's the arab world ( steals their oil ),... no different, and demonizes arab's, ... same as hitler.


Arab's are portrayed as terrorists, even though 99% of domestic USA terrorism is done by left-right numb-nuts born in the USA.


The MOSSAD is fucking evil, they're only about stealing land in the arab/persian world,


Most Jew's don't support the MOSSAD, just like most ameriKKKan's don't support the CIA, unless of course your on the CIA/NSA/FBI payroll, then you support.


It's all about 'stealing', and the USA are the biggest crooks on earth, its funny how TV watching parasites want to blame Jews for their obesity.


The FAT-ASS american is just as much a part of the problem as OBMAMA or HOLDER, ... or Hillary Clitoris bitch, everybody in the USA is/was HAPPY when vietnamese, laos, arab children are dying to keep OIL cheap.


Now that the USA paradigm for LARGESS has failed, its time to blame the Jews.


Like the man said, anybody that blames the Jew, has shown he is an un-educated TV watching hair-lip, e.g. USA citizen.


Tue, 05/14/2013 - 03:46 | 3559429 francis_sawyer
francis_sawyer's picture

The only reason I ever watch TV is to watch the 'CREDITS' roll by at the end of programs [I just feel 'smarter' having all those 'executive producer' names scroll by my eyes, as well as who the Producers choose to fill every job from make-up artist to key grip]... Well ~ that & the 'Oscars' [which is a big 'yay me' fest]...

Mon, 05/13/2013 - 19:30 | 3558513 GreatUncle
GreatUncle's picture

"The foreign exchange reserves are invested in liquid assets so that they can be utilized in times of crisis"

Better off to stockpile the natural gas as a real asset I am sure there will be buyers over the next 100 years. Just do not buy bits of paper because

"a kilo of gas in the hand is worth more than a fistful of dollar, pounds etc or any other currency.

It is an investment holding onto the asset in a period of inflation because in 100 years doubling ever 10 years you will have 20x the measured value.

Mon, 05/13/2013 - 20:01 | 3558602 Kirk2NCC1701
Kirk2NCC1701's picture

"A person or group who constantly loses to another person or group, and then constantly bitches & moans about it -- rather then fixing the problem or turns losing into winning -- deserves everything but sympathy."

Such incessant complaining says more about the complainer's state of mind, financial and social status -- or lack thereof -- than about the party they are chronically and constantly complaining about.

There is nothing but personal & social stupidity, selfishness, disloyalty and disorganization keeping a person or group from improving themselves, or from collaborating in an active and persistent manner.  "Birds of a feather...".

Winners do, losers complain.

Next topic!?

Tue, 05/14/2013 - 00:08 | 3559235 Kinskian
Kinskian's picture

You hear that Al Sharpton?

Tue, 05/14/2013 - 03:49 | 3559433 francis_sawyer
francis_sawyer's picture

"Winners do, losers complain"


So theoretically... If I have a beef with the CIA I ought to storm Langley [or else I'm a 'loser']?...

Mon, 05/13/2013 - 20:16 | 3558650 Mr. Hudson
Mr. Hudson's picture

: "The BoI tries to ‘justify’ entering the global currency wars with natural gas production"

What they didn't say was that it is with Lebanon’s natural gas.

Mon, 05/13/2013 - 21:44 | 3558910 groundedkiwi
groundedkiwi's picture

And Gaza's natural gas.

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