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BAC Triggers Avalanche Of $7.00 Stop Loss Sell Orders
Is that H2SO4 that Warren is pouring for his next deeply introspective bath? Or will he double down and throw good money after bad money that was good as recently as 2 weeks ago (and according to Cramer was supposed to trigger a "massive short covering squeeze in the XLF.")
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Warren 'Thanks for the 17 Billion USD Bailout, Uncle Sam' Buffett just brainstormed which toxic catastrophe of a ticker symbol to buy next while having his Depends changed.
Germany knows Greece is about to default:
http://www.marketwatch.com/story/germany-preps-support-if-greece-default...
Put enough Mr. Bubble in the bath water and even Warren can hide a Greek default. Until, that is, someone pulls the plug.
That's beautiful. I gave that first greenlight ;)
Warren Buffet & Charlie Munger both shit where they bathe, which makes bath time no fun for the help.
Maybe The old codger is swimming around in his own Jiz ...
More like Jizunk (jizz covered junk)
Warren Buffett places a buy order for 1 million shares of New Century Financial, while having his bottom treated with A&D ointment and then powdered, only to learn the subprime mortgage company filed for bankruptcy and was dissolved in 2008.
Good one CD.
Only when the tide goes out do you discover who's been swimming naked.
-Warren Buffett
And it all goes down the drain! LOL
Check out the latest from the Capital Research Institute "BiMetallic Standard, FAQ":
http://www.capitalresearchinstitute.org
"Here at the CRI we have been calling for a return to ‘sound money’. What does that mean? What does it entail? What does CRI think this would accomplish, exactly?
First, it is crucial to understand, as more and more people are everyday, that our current money system is dishonest and crooked. We are talking about the fiat fractional reserve system, whereby new money comes into existence when banks extend credit (out of thin air). Fiat can only be exchanged for more fiat (unbacked).
The major differences, then, under a sound money system would be in terms of where NEW money comes from. Currently private banks get to decide when new money should be created, and hence, business conditions for THOSE private banks will determine the money environment FOR EVERYBODY. This is the current situation, where banks are so illiquid and insolvent that they plainly refuse to extend credit on reasonable terms. This results in a feedback loop such as the world experienced in 2008 (when credit dried up) as well as what we are experiencing currently.
Under a gold/silver BiMetallic Standard the price of gold and silver would both be fixed..."
Gold and silver have been tried numerous times as the basis of monetary systems, and both have failed repeatedly. The reasons are well-understood: By virtue of scarcity they do not have the flexibility to expand (and contract) in proportion to economic activity. Also due to scarcity, they can be, and almost invariably have been, concentrated into a few hands, who then manipulate the money system to their own benefit -- and to the detriment of all others.
Having said that, I agree that "our current money system is dishonest and crooked." A debt-based money system gives rise to a money supply whose hidden purpose is to transfer the wealth generated by economic activity to those authorized to create the money. Thus the very heart of the money system is corrupt. It also creates impossible math. Because principal is created but interest is not, it means that the economy must grow exponentially to generate the wealth needed to pay the interest. In a finite world, exponential growth is impossible over the long term. Furthermore, even a brief economic downturn means that there must be debts that cannot be serviced. By mathematical necessity, someone is going to get skewered. Not because they are lazy or are unworthy, but because the mechanics of the money system demands its pound of flesh. This is a terrible price to pay for a debt-based money system. I submit that this is one of the underlying causes of the viciousness and anxiety that characterizes American society. One can forestall the day of reckoning by creating more debt to service the existing debt, perhaps at a lower interest rate. But this final manoeuver will also fail at the point of debt saturation: the point at which borrowers are unwilling or unable to take on any additional debt. I believe we have now reached that point.
Debt always creates a master/servant relationship and sets up a rich-get-richer-and-poor-get-poorer dynamic. This is not to say that lending is always bad. Sometimes it is the best way to provide the capital needed to set up a productive enterprise. But an entire monetary system based on debt must inevitably fail, with results that are unpleasant to contemplate.
Take a look around at the economic landscape. Are you happy with what you see? This is the inevitable result of a debt-based monetary system. We must tear it down, or suffer its consequences.
@ Helix6
OK so if the money can not be debt and it can not be backed by gold and silver, then what the fuck is the answer?
Fofoa has a good theory called freegold. I'd check that out for one possible solution. The problem lies in the fact that people want to borrow money the depreciates in value and save money that maintains its value. is it possible to do both at the same time:
http://fofoa.blogspot.com/2009/11/freegold.html
Some might say you can do that right now. Borrow money from the bank and they give you currency (which goes down in value over time) and then if I keep all of my savings in gold (which retains its value over time) I've accomplished this. The only problem is the price of gold is heavily manipulated. Once its actual market value is revealed through market forces then we can have a freegold system
The answers are always tough due to the foibles of man. The fact that civilizations always seem to follow birth-growth-maturity-decline-oblivion courses speaks to the enduring nature of those foibles.
Nonetheless, it seems to me that fiat currencies are here to stay. So the question is how to best manage them. Clearly, allowing bankers to control the supply gives them a death grip on the economies of nations, life-and-death control over their governments, and a subtle means with which to inexhorably siphon off the fruits of the nations' labor for themselves. This, to me, is a fatal flaw. The only other alternative that I see is for governments themselves to control the money supply. Such a system is also fraught with peril as it creates the risk of governments manipulating the money supply to implement tyrannical powers over the people, or toward the advancement of the careers of government officials, rather than supporting the nation's economy.
In the end, we seem to be in a situation where we are forced to choose our poison. The money system will never be better than the motivations of the people in charge of its management. And so I see the functioning of that system as much an ethical issue as a financial one. But one thing I am sure of: Having a money system under the control of people whose sole motive is profiting from it might just be the worst poison of the lot.
so what you're saying is that, golds and silvers doesn't allow bankers to make money to "Expand" and "Contract" at will? Or, their is only so much gold and silvers, so we have to add copper, and nickel? Or, yous have to pardon me, cause I'm southern with a drawl, that mankind perfers the slave/master relationship cause back in dixies land beaten slaves was good times? OR, sorry, you know I'm southern, we puts out paper with fancy writtens, cause it's like sea shells, and back in dem times, when sea shells was money; peoples was happy?
Not exactly. What I'm saying is that the scarcity of gold and silver are both an advantage and a disadvantage. The advantage is that they cannot be created out of thin air, so there is an innate control of the supply there. The disadvantage is that, in combination with a system that allows loans at interest, the existing stock winds up concentrated in a small number of hands. Human nature being what it is, the possibilities arising from this concentration are not pretty.
A second (and to my mind a more important) disadvantage is that a precious-metals-based money supply is dictated not by economic activity but by the labor and expense needed to add to that supply. In the case of precious metals, the cost is steep. This means that gold and silver may not, and historically have not, been able to keep pace with economic activity. For example, economic activity has increased dramatically in the last two centuries due to population growth and to advances in technology. Population alone has nearly quintupled since 1900. And while technological advances are harder to quantify, I think most people will agree that they have been little short of spectacular, literally lifting billions of people out of a subsistence existence and into a cash economy. The stock of gold, on the other hand, has barely kept pace just with population growth, and production has been in general decline now for over a decade.
So because of the potential for manipulation and the strangulation effect an insufficient money supply has on economic activity, I don't think precious metals will fit the bill. On the other hand, because of their scarcity and their appeal to humans, they are an excellent store of wealth.
What I get from your arguments is that you're a liberal and are scared the world will be too conservative if money is back by precious metals; cause people will have to be smarter and just can't spend...
My argument is, if we was more conservative about how we use our resources, we wouldn't be in this mess.
Let me put my dick in your mouth for a little bit, I'm southern...
"For example, economic activity has increased dramatically in the last two centuries due to population growth and to advances in technology. Population alone has nearly quintupled since 1900. And while technological advances are harder to quantify, I think most people will agree that they have been little short of spectacular, literally lifting billions of people out of a subsistence existence and into a cash economy."
I think the only people who've really benefitted is the Americans; we are the consumers of the world; and if you don't like it, we'll just bomb the shit out ya... now here, buy these T-Bills. BTW, the population of America is like 300 million; the rest of the world; billions.
"The stock of gold, on the other hand, has barely kept pace just with population growth, and production has been in general decline now for over a decade."
What's wrong with that? you got copper, nickel, tin (see japanese 1 yen coin); why does everyone have to have gold. if you have gold at $2,000 an ounce and print more paper, and it goes up to $2,500 an ounce, it just means you need more tin coins to buy gold cause theirs more tin. Think of gold like your $1,000 bill. rare, harder to find, and cost more than a $1,000... but used by bankers, the wealthy, and the elite. You my friend, just don't like being poor, and don't want the realization of how poor you are, to come to light.
"So because of the potential for manipulation and the strangulation effect an insufficient money supply has on economic activity"
I can see you went to school to learn something... but what you're saying is you don't want people to be wise with their money so they make wise investments; you want them to piss it away, and be able to keep pissing; even though, it means nothing. except destroying the earth.
"I don't think precious metals will fit the bill. On the other hand, because of their scarcity and their appeal to humans, they are an excellent store of wealth."
oxymoron.
The greatest invention by man, to keep his ass alive, is toilet paper.
Re: "What I get from your arguments is that you're a liberal and are scared the world will be too conservative if money is back by precious metals; cause people will have to be smarter and just can't spend..."
Well, noooo. My argument is that if we have a money supply that has just kept pace with population growth since 1900 but not the increased economic activity resulting from technological advance since then, we would have about the same level of economic activity today as we did in 1900, before the advent of cars, telephones, airplanes, refrigerators, personal computers, MRIs, indoor plumbing, and household electricity.
If this makes me a liberal, then I guess Ben Franklin was a liberal, too. He mentions in his autobiography that Philadelphia was in dire straights due to insufficient money supply in the 1720s. The assembly voted to increase the (fiat) money supply in 1729 and again in 1739, which proved to be a great boon to Philadelphia, which was growing in population and industry at the time.
"My argument is, if we was more conservative about how we use our resources, we wouldn't be in this mess."
Undoubtedly true, but only one of several underlying causes of our problems. In my opinion, the most pernicious is the constant bleeding of our fiscal system due to debt-based currency.
"Let me put my dick in your mouth for a little bit, I'm southern..."
I take it back. The most pernicious is the arrogance that arises from your belief that only you know the True Path, and the resulting intolerance and contempt that you feel entitled to heap on those who do not agree with your views. It's insulting and forecloses further meaningful discussion, which was perhaps your intent.
Therefore...
well, let me put it this way... if we lived the same way today as we did in 1900, that would probably be real progress. What's wrong with suffering, or non progress. Which life style is better? The plains indian, or the modern american slave? I'd take the american indian any day.. and who gives a shit about progress... that's nothing more than ego retardation. man is doomed; the earth will be consumed and we will most likely die with it unless we can morph ourselves into multi-dimensional being. Nearest star being 5 light years away... nearest earth like planet? So, your whole way of thinking that we must progress... is actually your slave mentality. We don't need nothing except what we've already been given.
I guess I should conclude from this post that you're living in a house without electricity and an outhouse out back, don't own a car, telephone, or personal computer...
Oh, wait...
actually i don't own a car or a phone; i create software. and i plan on buying land in the middle of nowhere to do absolutely nothing on. to live like a human being.
You will still need to band together with like-minded individuals. Human beings still need a society. And any society still needs to solve the problems that Helix grapples with.
why do you think people want to be around other people? your young and don't have kids yet? and Helix is doing nothing but mental masturbation; he wants to do central planning of the money suplly...which as we can see; doesn't work. The real reason it don't work is because we live in a finite world; finite resources, finite human beings, finite things to do. this is why we are collapsing; cause debt has hit the imit of our capacity/want to consume. The math is wrong.
Lemon, if buying land in the middle of nowhere and doing nothing on it is human, I want to be the anthisis of human...wait...you buying property in Manhattan?
I've lived in Tokyo, London, NYC; all shithole in the end; why do you think rich people have country estates; and live on the tops of hills; to get away from the riff-raff.
Missing from your analyis, is that in order to provide that 'great boon' to Philadelphia, a transfer of wealth effectively had to take place (by means of that act of currency manipulation) from somewhere else in the country. I.e. in order for Philadelphia to develop more, somewhere else (where that money might have been better spent than Philly) had to develop less. For each factory built in Philly they had to transfer the productive resources from somewhere else and a factory somewhere else was NOT built.
This is the unseen effect on the other side of your currency manipulation equation.
Look at Philadelphia today, it remains a less than optimal economic area, and has seen ongoing contraction of economic activity and population for a decades - so maybe there are underlying reasons why it is not the best place for that economic activity, maybe it should not have been artificially propped up in the first place.
Your argument is comparable to welfare. If Joe is out of work, I take money from Bob and give it to Joe (using currency dilution or any other method of wealth tansfer), then you can point at Joe's nice new car and say 'look how it helped, it was a good thing'. The other side of the equation is that Bob, who is a much harder worker, is now struggling to make ends meet.
Copper served for a long, long time. And nickel is still doing yeoman's duty in the coinage. Your thinking is limited.
http://www.ritholtz.com/blog/2011/09/your-gold-teeth/?utm_source=feedbur...
Well, I'm the first to admit that my thinking is limited, despite my best efforts to expand it as much as possible. I also have no problem using base metals or whatever other medium of exchange is agreed upon by the participants in the economy, so long as its supply is not based on debt and its quantity is not constrained in such a way that it has a strangling effect on economic activity.
And to this I should add that no other inordinate advantage is given to the issuing authority, a tricky proposition at best.
Gave you a red and a green...damn, that didn't work...
mr bubble or farts to help an old one
It's only when the bubble bath plug has been removed that the water drains and one can see that Buffett shat in the tub.
Geez CD, your love affair with mr bubba.
Next you'll singin in the bath, "my ding a ling".
No doubt, bubba. Look at his coveted warrants on Goldman and GE. Both were struck with strike prices of 122 and 22 respectively. Both far below them after the Buffett spike erodes and reality takes over. Of course, the old geaser will insist that Congress will do the "right" thing and bail out BAC--yet again, and GS, and WFC and GE while we're at it--and all equity and preferred holdings at the same time. This guy has become an American Baffoon.
I would say an American Vampire is more apt.
Cmon, Buffett exercised the 7.14 warrants already when the stock was at 8.50. It was a stealth secondary.
Berkshire can live off (selling to) the dogs that gather to sniff its rear.
Maybe Warren saw a floating turd in the tub and then thought "Bank of America!"
Suck it up Charlie! Suck it up Warren! LOL This will be the trade that tarnished your "perfect record".
Don't worry - Buffet has already got his PR dept working hard on making this loss a gain.
People with good PR always win!
...just like all blog investors - I made $30 Billion today alone - and I'm 10ft tall - and my cock is sooooooo big your wife would love it ;)
The Fed has a PR firm now. Do you think it's been successful too?
had your wife at the $30 Billion.
What if buffy is buying time for transfer some good stuff from his wells fucko to lighten his shit pile?
Fanny and fucky did it. Then let the bond and stock holders take it in the ass. New IPO in 12 months and no worse for wear.
Dude, I'm missing 3 fingers on my left hand from trying to catch falling knives.
Fuck that shit.
Butt it isn't even his money really. Never was. nwo it might never be.
War On Buffet.
V
Signs of America's Collapse
For far too long bad decisions, bad management and dangerous corporate behaviour has been rewarded with taxpayer bailouts, crony capitalism, and subsidies. And quite simply, until those practices are rewarded with utter abject failure we are totally fucked.
http://azizonomics.com/2011/09/09/is-greece-about-to-default/
If it manages to be there for just a minute, or by appointment, it's like it never was and in a flash it were gone...a forgotten crime, perfectly done.
Except both ossified old coots will be around when BAC recovers $9 -- in 3011.
The taxpayers will loan $5 billion to BofA and Berkshire will be name as the senior creditor
All you can eat Buffet Bitchezzzzzz
The Debacle of Omaha.
The Orifice of Omaha.
The Whoreacle of Obama
the owner of "moody's"
unka warrants
dirty. inside trading. above the law.
Fucking right....this scumbag gets a free pass, insider info and blown by Liesman and Quick every time he goes on TV. What the fuck ever happened to Charlie Munger??? That shrivelled up dick just needs to drown in his tub or some shit.
So how come the price didn't budge? That's a LOT of sales to not trigger a huge downfall in price...
Right...Was that HFT stopping the plunge?
Given the SEC's aggressive stance againt market manipulation... *cough* *cough* my guess is there will be a spike in BAC failures to deliver.
I'll have to remember to look here once the data hits.
http://failstodeliver.com/default.aspx
Looks like a nice spike last month too. Was that when Warren jumped in?
So they are issuing more shares. During 2008 and 2009 they went from 5 something million billion shares to 8.
Citi sold five times as many outstanding shares. The reason for HFT on those two shitbags to get those worthless shares into the market.
Obama's thinking "Why didn't I just make it an even $450B? That would have worked for sure!"
yep...450 billion....what does that come to for every man woman and child in the usa? could someone help me out here and do the math, seems my commodore 64 isn't up to the task, to damn many 000000s. thanks
You shoulda sprung for the 128D.
Hey, it's way easier than it looks, gg ... remember CANCELLATION? It's a fraction (i.e. a RATIO), so 1 billion/2 billion is exactly the same as 1/2, right?
So 450 billion/312 million by CANCELLING 6 zeros above and below is the same as 450,000/312, which is $1,442.31 ... not a bad chunk of change. Some folks might even decide to pay their mortgage for a month ... nawww, prolly not.
Well, passing out money to everyone in America isn't the actual intent of the AJA. It's supposed to help out those 14 million on unemployment, so how how about 447,000/14 = $31928.57 for each unemployed person.
I say, the heck with all the tax credits and other BS that obviously won't work; just give 'em the dough. It's going to be wasted anyway, might as well let people who don't have much waste it.
Of course, if anyone can find the research, I believe the Reagan jobs program actually PAID employers to hire new employees for 3 to 6 months. That's right. Back in 1982, when I had a start-up, I found out about this program and the government paid a new hire for [I believe it was] 6 months.
The program was a god-send to my business and got one young woman started on a career in advertising.
You want to kick-start the economy. Tell employers the government will pay new hires' wages (or a significant portion) for 3-6 months, provided you keep them on for a year to 18 months.
Worked then, but we're far too cynical for that now, aren't we?
It "worked" then. I understand your point here, but ultimately I don't like the moral hazard. The money the government used to help you out was from taken from someone, printed, or just added to the government debt. Jobs that are created through productive invesmtent or creative processes are "natural" and best for economic health. Having the government pay for new hires just strikes me as a short term fix (which eventually leads to long term headaches).
opps...damn enter button on my commodore 64 stuck...sorry
Bitch, ain't it? My TRS-80 is starting to drag these days. That blasted cassette tape drive is sluggish. Maybe I should look to an upgrade?
Wait till I fire up my Timex Sinclair
Increase your tape speed to 3.75ips and your clock speed to 1Mhz immediately!
In sales, they tell you to use 9s because they're more attractive to customers. It should have been $499 or $495. Act now. Better yet, do installment plans. Only $25 billion a year (for 20 years).
I'm sure they're discussing this very idea for either TARP 2 or the next Jobs Bill. Oops, I mean...not that we'll need those...this one will be THE magic bullet once those shovels hit the ground...and...and...imagine how bad it would have been without any bailouts!!
$24.999 Billion a year
For 19.99 years
ill-gotten gains from skimming off the top and racketeering don't constitute good money - at least in my book.
who cares when you don't really have to work for it anyway?
btw, am i nerdy that i knew that formula was sulfuric acid without having to look it up?
You know you are.
Looks like he is going to take a bath.
Someone took my grandparents new car for a joy ride this morning at 2:30 AM. I don't believe it was an attempted theft. It was a message to my family. My aunt is a banker and a greedy bitch. I have feared that when SHTF people wouldn't make the distinction between her and the rest of my family. Unfortunately, I think my fear is confirmed.
Make sure you have guns boys and girls.
I think most folks have guns to shoot bankers, not defend them.
I don't give a shit about my aunt. You can hang her, shoot her, or whatever. She called the cops on me a few years ago when I confronted her. She has it coming. However, the rest of my family are the most caring people you'll ever meet. I love them and will defend them.
she treated you badly once and now you think its okay for a mob to kill her, hope you are not your definition of nice, being good is not just being good to people that do good to you, even a sociaopath has enough sense to do that , sometimes you have to be decent to someone that has actually harmed you...you seem to want way more than an eye for an eye....and what if that was everybodies' rule? have you never harmed anyone, ever in your life, do you want those that you have wronged, to want you dead?
This isn't the warm happy feel good paradise of yore where everyone is innocent. This is the real world of now. You're gonna have to draw the line if you want to survive. I draw mine at betrayal.
This sounds like a realy F'ed Up clan of a family. He thinks the locals took his aunt's car out for a joyride. Smaller banks are not as scummy as the TBTF banks. Most of the loans and the total f***king up the financial system was ACORN/lib dems/community organizer suing banks to force them to lend to welfare cases to buy homes. Smaller banks serve a purpose and most are not total slime.
They are all tentacles of The Federal Reserve. This idea that small banks are somehow righteous is complete bullshit. I'd go as far as to call it propaganda.
You also didn't read correctly.
Freddie, did you happen to know that you're retarded?
Yes, it's true. People, like you, who spout shit as stupid as that have a special
name. They're called retards, and you're one of them.
Freddie, did you happen to know that you're retarded?
Yes, it's true. People, like you, who spout shit as stupid as that have a special
name. They're called retards, and you're one of them.
Evidently, you have never dealt with Montecito Bank and Trust. B.O.D. infested with members of the local B'nai Brith. Lethal.
I'm always curious what percentage of people posting comments on ZH are secretly bankers themselves?
Does owning gold make one a banker? They say you can be your own central bank.
Not me. I'm just a nerd with a lifelong interest in monetary theory (a.k.a. "Why is this paper shit money anyhow?").
.
.
Oh-Oh, things are turnin' pretty fugly on the last trading day of the week so i suggest we open the cocktail cabinet and make a refeshing drink to cool off.I recommend my ol' personal favourite recipe called the Grand Slam:
1qt 100%proof bourbon
1/2 qt scotch
3cl cognaic with orange peel
1/4qt clorox
1 teaspoon of castor oil
1 cap. ex.strong mouthwash
garnish with lemon and crushed blackpepper corns
{Best served shaken not spilled}.
Three measures of Gordon’s, one of vodka, half a measure of Kina Lillet. Shake it very well until it’s ice-cold, then add a large slice of lemon-peel.
+100 proof
This is actually a pretty good drink. My only addition: crush up a couple two, three Xanax on the back of a toilet and let that dust disolve in the bottom of your favorite frosty glass = Lights oooouutt!!
Is your avataatar you on your drink?
V
i was a little skeptical about the clorox at first...i stand corrected
Looks like markets are calling Benny's bluff
Buffet the bull market darling getting eaten alive in a bear market trap ..he should have read his history
...wave goodbye to Over-Reach of Omaha
Time will tell. But Buffett is not stupid. I'm guessing that he has one of three aces up his sleeve:
the archimedes of omaha
BAC...the Achilles heel of Omaha.
Hey,
I actually had a brilliant idea in the tub! The sage of Omaha is a fraud, a cheap knockoff if I don't say so myself!
yup, but: when people used yer idea to see if the gold was real, the Au-plated tungsten fooled em!
So, what you're saying Archimedes, is screw Buffett?
The oracle realised after how many years that he was paying less tax than a teacher? dickhead...
warren is fat
ShadowStats a great site. Been subscribing for 2 years. Cannot believe they allow Jim Rogers on cnbc to tell the truth. Great interview. We all know his thoughts.
well great thoughts..but he still is part of this system..perpetuating this myth of wealth...he will have to go too
He's gotta get "Bathtub" Becky back into his tub for another "Rub and Tug"....
LOL.....
Hey Robo
For a guy that frequents Rotten Ronnies (cheap and falling food prices and all) I got a question:
How's the price of antacids ? Usually takes 5 or 6 to keep the lips and arseholes down.
"
He's gotta get "Bathtub" Becky back into his tub for another "Rub and Tug"....
LOL....."
let me guess. you are either a monegr or lurker on bestgfe. she goes by the name bjbecky just so you know...lol
They don't call Becky Quick for nothing...
she is quick to the sack
Middle name ?
Fucks?
Undresses?
Bathes?
Just WHAT does she do quick?
Goes down.
Warren's warrants have an anti-dilution clause on any BAC capital raise or convertible issuance below where he struck his deal and the low coupon preferreds are allowed to be used to pay for the warrants in-lieu of cash at par.....how come I have not seen this on ZH? Libya sells gold to "pay salaries"
http://www.reuters.com/article/2011/09/08/libya-centralbank-idUSV9E7J300...
Looks like I gotta go murder a cop and sell his gun and car to pay my salary. Should probably clean out his house as well. Hope he isn't married with children. Nobody likes buying violent homicide houses. Besides the people who are in on the violent homicides.
Libya sells gold to "pay salaries"
That must have been timed to coincide with the peg of the swissie. They were off by a couple minutes though.
No it's worse. I don't think they got ahold of the gold. They probably faked the sale. They are after all rothchilds "rebels". If that's true than france is fucked because france is up to their balls in greek debt. If france folds then it fucks up italy which fucks up ireland which fucks up france more which fucks up portugal which fucks up italy more. The bathtub stopper looks to be pulled on this one.
Somebody show me a gold/euro chart that even fucking hints a 29 tons of gold being sold. Fuck hinting. Show me one that doesn't scream liar in it's face.
Buffoon needs to retire to an Assisted Living home so he can relax and reminisce about the past. My Dad is in one, poor guy, but he could teach Warren a thing or two.
Daily SPX VIX at it's highest since the start of the Euro crisis in May 2010
Warren's five billion was like peeing in the ocean.
Try fifty billion, Mr. Oracle of Omaha ... as a down payment.
just dont pee in the bathtub
Grandpa lost his rubber duckie. Squeak Squeeeeek!
Copper and Crude Oil crashing big today.
So much for "Peak Oil" and the myth of hyperinflation.
At least the consumer will be getting another tax cut.
Oh will you please just the the hell up?
Shut.
+1
-1 Robutt
lol......
Yes Robo, the Bernak has proven himself very adept at walking the inflation/deflation line. I doubt he will hyperinflate when he is so skilled at kicking the can. They will continue to slowly buy up gold until they are ready to bring this abortion to a conclusion and unveil the new abortion of a system that keeps them in power, but with just a smiggen more power than before. After all, consprictors constrict.
Inflation(expansion of the money supply) that happened yesterday is not static. If inflation was static then house prices would not have fallen.
There doesn't need to be more money printing to have hyperinflation
http://www.youtube.com/user/FreeGoldObserver?feature=mhee#p/f/3/V98FFlZDf7s
And so is the dollar. Did anyone notice the beutiful bullish wedge the dollar created recently? Now it's payback time.
http://www.marketwatch.com/investing/index/dxy/charts
Lesson:
Theory says that during DEFLATION, best performers are Government Bonds, Dollar and Gold. Reality agrees.
Thats bullshit
How well did the currencies in the Asian financial crisis do when there was huge DEFLATION in 1997 ?
They crashed 60%
As a reminder, the Asian financial crisis, excluding Japan and China involved 440 million people. 100 million more then the US of A.
The Japanese crisis has lasted decades, not just one year so on a longer timeframe, the Yen has exploded upwards during 2 decades of deflation. Japanese bonds yield less than shit for the say reasons. Also note that the Japanese have great access to credit. Unfortunately, nobody wants it. Just a hint of what's going on in the US and A.
Japan had fuck all to do with the Asian financial crisis. The AFC was in 1997, Japan blew up in the late 80's
I agree with you on peak oil Robo, but bond vigilantism has taken the form of gold buying. Its only a matter of time before oil and copper are not priced in dollars.
All you need is a war breakout in the mid east and oil is back to the highs overnite. None of this day to day nonsense proves anything long term.
As far as anyone knows Oct 1st oil may be $130, Robo sees a 1 day dip and makes macro conclusions, means nothing at all.
Damn Robo, are you another bonehead from the planet fuktard?
With your wisdom, you've must of been bullied in school. Now they have bullying laws. The new laws now need exceptions, for special people.
Oh you talking of Godfather Warren? He sold at $8.
WB is in tax court with the Feds...what better way to get out of it..claim a huge capital loss and get money back. Bet on the bank you know is about to shit it's biscuit.
It was always all about BAC. Memories are short. The whole secret bail to pump up stocks in March 09 was designed so that BAC could do a stealth recap via secondary. Fed also acquired their ugly paper in size.
They're the poster child for everything that went wrong during the boom years and crash of 07-08: Robosigning, improper appraisals, securitization, over-leverage, derivatives, Countrywide and Merrill.
What a cess-pool
Yep very good point.
Agreed, now the lawsuits are being filed fast and furious before bankruptcy dismisses future claims.
BAC is the garbage can throw-in play, like ACA capital before it. Not sure it will be the only TBTF that ends up failing though.
Level buy all the way down Warren, LOL!
BAC FAIL!
Kinda gives ya warm fuzzy feeling, don't it?
BAC the black orafice of Omaha...The baby is about to be thrown out with the bathwater. Honestly I'm surprised the 5 Billion dollars worth of heroin has lasted this long.
a nice big mistake by Warren would be just about perfect, especially as he is now Obama's go to guy :D
id buy it for 6.75 short it on the bounce buy it again at 6.5 and run with the coming bounce rally then short the shit outta it till its 0 lol
12:32
The RIETs are about to get poleaxed. Funny...as the whole argument about inflation vs. deflation rages on, the RIETs are the primary recipient of deflation. The protection of this group by the FED is ending. Sell them.
RIETS are the darling of the "anything but gold" investors. Its about time they got poleaxed.
REITs the FED's little darling 'assets' theyve been proping their own R/E 'assets' for ages. Bunch of baboons.
HEY Tyler!! I read that an AZ court has upheld MERS. What does this mean for the all of the foreclosure fraud activity?
I think it means what I have said all along, and that is that all of this fraud will amount to the following:
-Lawyers make money
-Banks make more money
-Displaced homeowners run to section 8
You cannot beat this system. Everyone dreams. Everyone thinks this time we'll get them. Everyone thinks that somehow, someday, justice will be done.
It will not. The bastards WILL win.
BAC might fail, but nobody that caused the mess will suffer anything more than the opportunity cost of the extra money they were not able to steal. Buffet? BH might take a hit, but hell, he will never know the difference
Now, everyone back to the cause of the day. I'm sure something somewhere is about to fall apart.
Read it further. The court also instructed the attorney that screwed up the pleading just how to fix it so there is no more MERS. It is a marvelous takedown of a leaky attorney and a corrupt corporation. It actually gives everyone instructions on how to defeat a MERS claim.
That would only apply to AZ - not any other state.