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Draghi Admits Won't Stop Blowing Bubbles Even If He Sees Them
And scene... in what is an oddly honest moment for a central banker, Mario Draghi just admitted there-ain't-no-stopping-us-now:
- *DRAGHI SAYS ECB WOULDN'T RAISE RATES IF BUBBLES EMERGE
So BTFD, BTFATH, and BTFWWIII as no matter what, the central bankers do not care about financial stability (or fragility). The so-called macro-prudential policy plan will save the day...which like OMT remains shrouded in a "don't ask, don't tell" Oz-ian mist.
Furthermore, Draghi then goes on to admit his efforts were all about generating carry trades (riskless profits for banks)...
- DRAGHI SAYS CARRY TRADES WILL BE MUCH LESS PROFITABLE NOW
WTF?!
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Exactly.
Central banks are like economic herpes.... they just keep coming back...
He wouldnt because he cant - with a quadrillion in derivatives and 80% of them interest rate swaps - the status quo is fucked with higher rates
This is correct. Look at CNBS lining up another Muppet killing... "Get Shorty S&P500" on their website. You cannot ask for a better gift than this.
Lemme tell y'all sumptin'. There's sumptin' very wrong out there that the bankers are absolutely scared shitless about, and it has to be more than we know or they wouldn't be trying to gin up price levels and the economies so damned hard.
There's sumptin' very very wrong.
they are buying time, for events they are expecting... and waiting for.
Buying time for sure, john, but that magnitude and depths of debauchery, murder and decline must be multi-fold of what even we the skeptics here at the Hedge are thinking of....
PS and many thanks for the scripture citations several days ago.
real simple knucks......game over......the real economy is in true free fall and they know it BETTER THAN ANYONE.......the shit sandwich is about to get swallowed and when they pull the "next bazooka" out its gonna lob one little turd on their feet......and thats when it begins.......you pick the date.....I'm just watching..........but the game is over
I agree. I don't even want to image exactly what they have planned. I prefer to imagine how it will fail.
In all seriousness, the banks are in big big trouble...... he knows it Mark to Unicorn is failing.....
What could go wrong?
That the bubble, whatever it will be, does not stop expanding.
only thing that does that, is this universe... so they tell me
Rumour whispers Deutsche is about to issue an ETC indexing the diameter of the universe. Underlyings are LMT and RTN.
How this always ends...
As a matter of course, of course.
Won't raise rates, Mario? Ok. Then just wait for when depositors want to take "their" money out of the bank to practice disintermediation...
Nice paintng...what is it's title?
From a series of 5 paintings by Thomas Cole depicting the Stages of Empire (I think they're called?)
germanic barbarians wanting their gold..sounds familiar huh
Nice HH, Cole's Empire series.
I always confuse the last two of these with some of Turner's earlier works.
Nonetheless, have you ever noticed the little speck up in the approaching fury?
That's probably the Annanuki coming back for their remaining gold and are pissed as all get out that Ft Knox and FRBNY vaults are empty. Now they figure they gotta go from person to person, yanking teeth for fillings, grabbing earrings, lifting nice watches and spectacles, ink pen nibs, Jesus the work is gonna make them Vengeful as All Hell in the Second Coming.
Amazing painting.
True art. With a message.
Thanks for posting it.
Coldplay-Viva la Vida
http://www.youtube.com/watch?v=1bJMxhvVf0o (4:28)
What was necessarily extraordinary because of the crisis of the day, becomes routine, so goes the new normal.
And now that any growth of my investments comes from gambling on what the government and banksters will do next, as opposed to the boring dividends/interest/profits/fundamentals that used to matter, I have no way of knowing how much I will have down the road. So my only alternative is to save more and spend less, exactly the opposite of what the Fed says it is trying to encourage me to do.
am wondering when the first country abandon the euro.
Very good advice Georgia_Boy......
Look People,
If everyone else has to die so that Draghi can remain on top while the empire goes down then by god get to dying.
Draghi is too important....you, you are scum. Unwashed afterbirth not worthy to breath his air.
Die already!
(:p)
--Ham Rove
CBs can't print BTC , nor can they dictate a prize for it. - They will however try and kill it.
I'd like to know how Draghi plans on doing this other then outright printing or deposit confiscation. The European banks are 3x moar levered than their U.S. counterparts and were never recapitalized after the GFC.
Additionally all quality collateral has already been pledged in Europe. Draghi is full of shit, and his ship is sinking fast. The U.S. can't save him either.
The Fed. can't keep printing like they were because the U.S. deficite is shrinking, and the Fed. can't keep issuing the same supply of bonds and monetizing them.(giving money to European banks )
How to Make More Money Than God: Investment Insights, Hedge Funds and Finance (2010)
http://www.youtube.com/watch?v=BtKluza55mQ (57:54)
It seems like everything is starting to fall apart.
And the ugly grimaces are appearing behind the masks.
A month or two (max) 'til the big one if you ask me.
Quickly, buy all the physical you can get a hold on and stack it in your basement.
last time i made a major buy was just after cyprus, which was non-event, and of course later the price fell considerably. so i would wait for another (non-)black swan so they would coordinate another attack on PM prices. you say there wouldn't be any inventory left? not in my neck of the woods. i'm probably the only idiot having any interest in shiny things around here.
Sure, could go lower after more paper dumps.
But I somehow have the feeling that we're approaching the end game.
Three days ago there was an article in the conservative Newspaper Frankfurter Allgemeine Zeitung online on the repatriation of German Physical Gold (posted it before, so sorry in case you saw it already).
The article was meant to reassure ze tschörmen SHEEP that everything is alright. But it was written in such a desperate way, that it almost seems to me that Angela & the Bundesbank actually found out that their gold is gone...
http://www.faz.net/aktuell/finanzen/devisen-rohstoffe/bundesbank-bei-gol...
I tried to translate some of the paragraphs:
German Bundesbank president knows how important the trust of the citizens is. This is why the central bank opens its doors to the public this weekend (12./13.July) for the first time in history. Thereby, gold can even be touched: In a safety display cabinet there will be a 12.5kg gold bar. The current market value of this gold piece, that is smaller than a carton of milk is about 400.000 EUR. Recently delivered from New York, the precious metal can be touched and lifted, but not taken out of the safety disply cabinet.
...
Although the relocation of the gold began slowly and in 2013, only 37 of the planned 674 tons of gold were transferred from Paris and New York to Frankfurt - Bundesbank director Carl-Ludwig Thiele remains optimistic: "We are on schedule and will be able to meet the schedule." According to earlier data, this year 30 to 50 tons of gold from New York and 50 tonnes from Paris are to be brought to Frankfurt.
...
As many of bars coming from New York do not conform to nowadays standards, the Bundesbank will have them remelted. It has been shown that all the doomsday predictions of the critics were unjustified. "With the gold previously relocated to Germany, everything was as it should have been," says Thiele.
In any case, the German central bankers have complete confidence in their American counterparts: "We have no doubts about the integrity of the Federal Reserve Bank of New York. Our gold is safely stored there. "
-----------------------------------------------
1. "German Bundesbank president knows how important the trust of the citizens is". --> Who in their right mind would write something like that? Is this article written for children?
2. " the precious metal can be touched and lifted, but not taken out of the safety disply cabinet." --> They display one bar and say it was recently brought back from NYC and now you can "touch" it and you are supposed to believe. It's for everybody called Thomas.
3. "Many of the bars do not conform with nowadays standards". --> WTF? What does that even mean? Why the F*&@#@#°CK would they need to REMELT the gold? The shape is not as expected so the bars can't be stacked as foreseen? We have to get rid of the tungsten inside? This sounds like such an outright lie, I have no other explanation except that the German Bundesbank is actually saying the German gold is not in the US anymore and they have to mine new gold. That's why it takes so long.
This was in FAZ online. Quite surprising. How long will it take until some Mass Media smell how big this story could be and pick it up and make it big? After that, how long do you think it will take until the paper price of gold will decouple from the physical price? A month? A week? A day? A couple of hours?
I wouldn't want to wait for many more dips but rather buy "too high"...
great link, thanks!
what a joke. look here, this is from ny fed. do not take it out from the display. or tungsten will show? lol
first thing about melting that came to my mind was that chinese take only kilo bars but that i would not believe of germans.
Makes sense; when bubbles pop people need cheap money more than ever.
Thats the diablo of bullish statements
@Cheapmoney4eva
obama admits that he won't stop blowing Reggie Love...or any other guy with a crack pipe, for that matter.
"the people have bought our bullshiit definition of 'inflation and deflation', now we can pull out all the stops until they really understand what 'inflation, deflation and hyper-inflation' really mean" (bring on the evil laugh), official souse within the International Bank of Settlements