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BBC Does It Again: "In The Absence Of A Credible Plan We Will Have A Global Financial Meltdown In Two To Three Weeks" - IMF Advisor

Tyler Durden's picture




 

A week after the BBC exploded Alessio Rastani to the stage, it has just done it all over again. In an interview with IMF advisor Robert Shapiro, the bailout expert has pretty much said what, once again, is on everyone's mind: "If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world. This would be a crisis that would be in my view more serrious than the crisis in 2008.... What we don't know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems."

But no, Morgan Stanley does, or so they swear an unlimited number of times each day. And they say not to worry about anything because, you see, it is not like they have any upside in telling anyone the truth. Which is why for everyone hung up on the latest rumor of a plan about a plan about a plan spread by a newspaper whose very viability is tied in with that of the banks that pay for its advertising revenue, we have one thing to ask: "show us the actual plan please." Because it is easy to say "recapitalize" this, and "bad bank" that. In practice, it is next to impossible. So yes, ladies and gentlemen, enjoy this brief relief rally driven by the fact that China is offline for the week and that the persistent source of overnight selling on Chinese "hard/crash landing" concerns has been gone simply due to an extended national holiday. Well, that holiday is coming to an end.

By the way, Reuters, Shapiro is not a Yes Man -we'll spare you the ruminations.

h/t Scrataliano

 

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Thu, 10/06/2011 - 16:42 | 1747342 mynhair
mynhair's picture

1300, here we come!  Very bullish.

Won't be a short left by then.

Then 1000, even more bullish!

More Sheeple to shear.

Thu, 10/06/2011 - 16:43 | 1747352 CH1
CH1's picture

Definitely bullish. Dow 36,000.

Thu, 10/06/2011 - 16:48 | 1747379 redpill
redpill's picture

Transitory.

 

Thu, 10/06/2011 - 16:52 | 1747405 hedgeless_horseman
hedgeless_horseman's picture

 

 

I'm gonna get me a bottle of tequila and find me one of them Keno girls that can suck the chrome off a trailer hitch and just kinda kick back.

Thu, 10/06/2011 - 16:54 | 1747420 redpill
redpill's picture

I don't do that stuff anymore but if I was going to spark one up it would be with Willie.

Thu, 10/06/2011 - 16:56 | 1747430 Fish Gone Bad
Fish Gone Bad's picture

Until then...  everyone will just pretend that shit is not going to hit the fan.

Thu, 10/06/2011 - 17:05 | 1747469 AldousHuxley
AldousHuxley's picture

When you have pile of shit and a fan blowing, you can only delay the inevitable for so long.

This is BBC justifying ...Bank of England QE of £75bn

 


 


Thu, 10/06/2011 - 17:29 | 1747579 Popo
Popo's picture

Right about now they're going to declare an emergency
..requiring emergency financial powers. No there's no time to think about laws or constitutions. Just give us your money and we'll make the threat go away. If you don't give us insane quantities of money, we'll blow ourselves (and you) up.

Financial terrorism at its finest...

Thu, 10/06/2011 - 17:35 | 1747601 redpill
redpill's picture

Stop that critical thinking, stop it!  The world is too dangerous to be doing that, we just need to be observant and report upward.  If you see something, say something.  Got it?  Now get in the radiation booth, citizen.

Thu, 10/06/2011 - 17:58 | 1747672 akak
akak's picture

I see corruption within Washington, Wall Street, and the Fed.

OK, I said it.  Now what?

Thu, 10/06/2011 - 18:09 | 1747708 Manthong
Manthong's picture

Melt-up.

Thu, 10/06/2011 - 18:14 | 1747721 wisefool
wisefool's picture

Willie nelson is a farsical figure who neither added or detracted to the debt of th USA, yet they almost put him in a zero escape prison for the same stuff that Timmay does on a regular basis. Not just with his own tax forms, but with the worlds.

Thu, 10/06/2011 - 18:41 | 1747811 flacon
flacon's picture

...but you can't eat gold.... or silver.... SELL! SELL! SELL! SELL! SELL! SELL! 

/SARC

Thu, 10/06/2011 - 19:40 | 1747968 Pool Shark
Pool Shark's picture

 

 

Let's take this thread...

 

Thu, 10/06/2011 - 19:41 | 1747971 Pool Shark
Pool Shark's picture

 

 

Outside...

 

Thu, 10/06/2011 - 19:41 | 1747974 Pool Shark
Pool Shark's picture

 

 

The...

 

Thu, 10/06/2011 - 19:42 | 1747976 Pool Shark
Pool Shark's picture

 

 

Margin...

 

Thu, 10/06/2011 - 19:43 | 1747978 Pool Shark
Pool Shark's picture

 

 

Uh, oh...

How do we get back?

 

Thu, 10/06/2011 - 20:27 | 1748065 Cynical Sidney
Cynical Sidney's picture

damn you pool shark stop that. what are you like 6 years old? if you have nothing to say go make your own thread on the last page

Thu, 10/06/2011 - 20:42 | 1748091 TheFourthStooge-ing
TheFourthStooge-ing's picture

Ialwayswonderedifyoucouldinsituationslikethisextendthewidthofthepagesimplybytypingareallylongword.

I guess we'll never know.

 

Thu, 10/06/2011 - 20:57 | 1748135 grunk
grunk's picture

You're heading to the dark side of the computer screen.

Thu, 10/06/2011 - 21:01 | 1748142 FEDbuster
FEDbuster's picture

Wake me up when "Occupy the Hamptons" starts.  They don't like it when people shit where they live.

Thu, 10/06/2011 - 22:18 | 1748330 TheFourthStooge-ing
TheFourthStooge-ing's picture

I think you mean "Torch the Hamptons".

 

Fri, 10/07/2011 - 00:12 | 1748586 Hansel
Hansel's picture

Must.go.all.the.waaaaaaaaayyyyyyyyyyyyyyyyyyyyyyy

Seriously, how far can this go?

Fri, 10/07/2011 - 00:13 | 1748588 Hansel
Hansel's picture

Pete.and.Repeat.were.sitting.on.a.fence.Pete.fell.off.who's.left?

Fri, 10/07/2011 - 00:13 | 1748589 Hansel
Hansel's picture

Pete.and.Repeat.were.sitting.on.a.fence.Pete.fell.off.who's.left?

Thu, 10/06/2011 - 21:32 | 1748203 Dick Fitz
Dick Fitz's picture

You can't.

Ya just can't.

Once it's this fucked

Reset is the only option.

Thu, 10/06/2011 - 22:56 | 1748419 WakeUpPeeeeeople
WakeUpPeeeeeople's picture

reset, as in throwing the lever on the guillotine

Thu, 10/06/2011 - 19:54 | 1747997 slewie the pi-rat
slewie the pi-rat's picture

we are doomed, BiCheZ!!!

Thu, 10/06/2011 - 20:16 | 1748042 BigJim
BigJim's picture

@spiraleyes

you can eat gold.

...and it comes out the other end good as new!

Might want to give it a rinse, maybe.

Thu, 10/06/2011 - 20:18 | 1748049 BigJim
BigJim's picture

Hey Tyler, I see that the FT, Establishment rag par excellence, is saying RBS is looking like it needs recapitalisation now. Any more analysis on this? Sounds like a Reggie M. kinda thing.

Thu, 10/06/2011 - 23:18 | 1748488 TruthHunter
TruthHunter's picture

...and it comes out the other end good as new!

 

That's the shit that's hitting the fan

Thu, 10/06/2011 - 21:50 | 1748240 jekyll island
Thu, 10/06/2011 - 18:46 | 1747817 Pinto Currency
Pinto Currency's picture

 

The BBC is just helping out.

 

After ignoring the rigging of the gold and silver markets at London's LBMA and New York's Comex for 15 years and thereby ignoring the rigging of the world's interest rate and debt markets while the biggest central bank currency, debt and speculation bubble in history was blown, they have been key enablers to the destabilization of the world's markets.

 

Now they are trying to  help us out by giving us a couple of weeks notice.

Thu, 10/06/2011 - 18:50 | 1747843 flacon
flacon's picture

Siver run imminent!: "I made enough money on the stock exchange to buy myself one tenth of the silver I could have bought ten years ago!"

Thu, 10/06/2011 - 19:41 | 1747961 SilverRhino
SilverRhino's picture

Even the craigslist ads for silver are starting to dry up.

 

 

EDIT: HERE's a nice hit.   http://dallas.craigslist.org/dal/clt/2587897475.html  100 - 10oz AG bars at spot +1 dollar.

Fri, 10/07/2011 - 00:15 | 1748592 Shirley Wilfahrt
Shirley Wilfahrt's picture

Just bought 13 troy for 85% of spot....included 2 ase, and most of the rest in 90% coins....off local CL ad...

 

He told me local pawn shops were offering him 60-65% of spot....

 

Fri, 10/07/2011 - 01:33 | 1748743 DavidAKZ
DavidAKZ's picture

Perth Mint apologises for their online buy systems freezing up

Fri, 10/07/2011 - 00:40 | 1748655 Penniless Pauper
Penniless Pauper's picture

I know a lot of "smart people" who can not understand statements like that.   Must be why I don't have many friends any more... Oh well there is always Zero Hedge :)

 

Thu, 10/06/2011 - 21:06 | 1748155 Arkadaba
Arkadaba's picture

Yep!

Thu, 10/06/2011 - 21:13 | 1748173 Bringin It
Bringin It's picture

Pinto - Best post on the thread.

After ignoring the rigging of the gold and silver markets at London's LBMA and New York's Comex for 15 years and thereby ignoring the rigging of the world's interest rate and debt markets while the biggest central bank currency, debt and speculation bubble in history was blown, they have been key enablers to the destabilization of the world's markets.

Thu, 10/06/2011 - 19:01 | 1747868 AldousHuxley
AldousHuxley's picture

bring out the guillotine!

Thu, 10/06/2011 - 18:25 | 1747759 disabledvet
disabledvet's picture

Your money or your life. Where our Oligarchs Gone Wild guy? Did they get him too?

Thu, 10/06/2011 - 18:48 | 1747836 flacon
flacon's picture

Your money or your life

 

Treasury Secretaries give robbers a bad name!  Paulson? Bevis - I mean Geithner?

Thu, 10/06/2011 - 19:32 | 1747950 nmewn
nmewn's picture

What I really want to know is...will this crony-monetary-collapse-contagion thingy effect the whole bread & circuses part of the show?

And everyone was clearly promised soft little puppies prancing in the green shoots & skittle shitting unicorns...someone needs to pay up ;-)

Meanwhile....

Head of Energy Department loan program steps down amid Solyndra controversy

http://www.washingtonpost.com/national/health-science/jonathan-silver-head-of-doe-loan-guarantee-program-to-step-down/2011/10/06/gIQAzQmlQL_story.html?wpisrc=al_national

Thu, 10/06/2011 - 21:20 | 1748187 Arkadaba
Arkadaba's picture

I found this somewhat encouraging.. That being said I can't push myself into a left, right, republican, liberal box. Grew up in Canada - big country with a small population which naturally encouraged universal health and sharing - it does work. Also moved off shore because of no opportunities at home. Hated Bush, hated Obama's continuation of the same policies. One thing is I can say to ZH is thanks for making me question everything. OMG - Toronto just scored again. Bitchez!

http://dailybail.com/home/photo-of-the-day-dear-moveonorg.html

 

 

Thu, 10/06/2011 - 22:26 | 1748349 nmewn
nmewn's picture

Always question everything, everywhere, until proven true.

Its amazing really when you think about it...one side puts up "pills for seniors" to bribe the public for the vote and the other says if you take these pills away seniors will surely die...a statist catch-22...lol.

It would be funny if it were not so damned corrupt.

Fri, 10/07/2011 - 02:06 | 1748769 Arkadaba
Arkadaba's picture

My mom is still around though she will have to do the seniors driving test next spring (actually hoping she fails - she shouldn't be driving). That being said - her kids and her grandkids love her. And how do you put a price on that.

Fri, 10/07/2011 - 06:52 | 1748945 nmewn
nmewn's picture

Both of mine have passed on to a place where they can better keep an eye on me ;-)

My wife is going through the trauma of having to let one go now. There will be a giant hole that can never be filled or even fully explained to someone who's never gone through it when it does happen. Its all part of it. The love of family always helps in times like this. Love & cherish each other while you're all here together.

Yes, there is no price on the family and no burden to large to bear in support of it.

Thu, 10/06/2011 - 19:39 | 1747965 Pinktip
Fri, 10/07/2011 - 07:54 | 1749011 Seer
Seer's picture

Well, it's really not "our" money.  The USD, anyway, says that it belongs to the Federal Reserve :-(

But, really, if it's shit fiat then should we really care?  It's like the Monopoly Game is being played, and rather than walk away from the game so that we can go get something to eat, we keep playing, thinking that somehow food will come to us (either some servant or, by way of the game itself).  Not a great analogy, but hopefully the gist is there (quit playing the game, turn in the fake money [and stupid game pieces] and get on with what's real).

Thu, 10/06/2011 - 18:22 | 1747750 disabledvet
disabledvet's picture

I said "QE in England" just last week. Where's my Jolly Rancher? Anywho spot on. Absolutely cover for QE...over there...and who the he'll is messing with my I-phone God dammit!

Thu, 10/06/2011 - 19:32 | 1747951 AldousHuxley
AldousHuxley's picture

no jolly rancher, but this may amuse you

 

Lehman Sues Goldman Over Collapse of Real-Estate Deal

http://online.wsj.com/article/SB1000142405297020338880457661537006853020...

Fri, 10/07/2011 - 00:44 | 1748666 disabledvet
disabledvet's picture

so much for my billion shares of Lehman doubling to 2 cents. DAMN IT!

Thu, 10/06/2011 - 21:32 | 1748202 BigInJapan
BigInJapan's picture

Yes.

That, and preparing them for the printing yet to come.

Moronic.

Thu, 10/06/2011 - 22:00 | 1748232 Michael
Michael's picture

Some of the private corportions in the banking industry are just going to have to file for bankruptcy. No big deal. Stronger players will emerge to take their place.

 We must never again let private banks get so big that when they go bankrupt, they ruin the whole of society.

Has anyone seen the movie, The Road?

Fri, 10/07/2011 - 00:48 | 1748675 riley martini
riley martini's picture

 Yeah Europe going full fascist just like the  USA  . Marx was right about somethings when capitalism fails people go left to fascism then socialism then collaspe . But alas Marxism never succedes the Socialism collaspe like Marx hoped .  Marx never envisioned how complex the world would become.

Fri, 10/07/2011 - 08:01 | 1749021 Seer
Seer's picture

"Stronger players will emerge to take their place."

More like the existing TBTF entities will gobble up the small fry and further consolidate their TBTF-ness.

It's musical chairs.  For those that don't know it, the chairs slowly get removed until there's only one left...  Will we get down to only one chair?  Don't know.  But, the gorging will end, and when it does those left standing (or, sitting, in the case of musical chairs) will puke it all up, at which point we should not do like my dog does and...

Thu, 10/06/2011 - 21:49 | 1748239 Buck Johnson
Buck Johnson's picture

Bingo, also this guy was right everyone is creeping to the door when all hell breaks loose when the debt and CDS start to unravel.

Thu, 10/06/2011 - 22:14 | 1748314 lano1106
lano1106's picture

I think that you are right but I wonder if the purpose of the message could not be multiple.

 

What I have in mind is that on this site, people often scream against BS rumors serving as hopeium to pump up the market. Could it be possible that this type of communication could serve as hopium for short investors so that TPTB can screw both sides sequentially?

 

Fri, 10/07/2011 - 05:21 | 1748902 Ken Frost
Ken Frost's picture


Thu, 10/06/2011 - 17:07 | 1747482 SheepDog-One
SheepDog-One's picture

They just did 'Shit Hitting the Fan' on Myth Busters, and found that yep, when you throw shit at a fan, it goes everywhere.

Thu, 10/06/2011 - 19:14 | 1747901 Schmuck Raker
Schmuck Raker's picture

No shit?!

Thu, 10/06/2011 - 20:44 | 1748098 TheFourthStooge-ing
TheFourthStooge-ing's picture

Bigtime.

 

Thu, 10/06/2011 - 23:12 | 1748469 Let them eat iPads
Let them eat iPads's picture

Hollywood coroborates that.

http://www.youtube.com/watch?v=aZdp46Jen_w

Thu, 10/06/2011 - 17:08 | 1747487 Panic Panic Panic
Panic Panic Panic's picture

Their gonna need a bigger fan.

Thu, 10/06/2011 - 17:58 | 1747671 Strider52
Strider52's picture

@Panic: Dude, I just took 2 Happy Pills and that made me ROTFL. (The 'bigger fan' thing.)

Thu, 10/06/2011 - 18:11 | 1747712 Manthong
Manthong's picture

Larger sack.

Thu, 10/06/2011 - 18:35 | 1747788 Incubus
Incubus's picture

where does shit go when it gets sucked into a black hole?  Matter cannot be "deleted"--so where does it go? 

Regardless, I think we're on the supposed exit end of a black hole that's about to suck in a fuckload of shit.

Thu, 10/06/2011 - 20:11 | 1748031 Element
Element's picture

Not so much blackhole, more of a shadow hole.

Thu, 10/06/2011 - 20:36 | 1748084 Axenolith
Axenolith's picture

It's there, just infinite mass and zero volume...

Thu, 10/06/2011 - 21:06 | 1748094 akak
akak's picture

Like when I mute the TV on Oprah or Rosie O'Donnell?

Thu, 10/06/2011 - 22:46 | 1748391 WonderDawg
WonderDawg's picture

Why bother with mute when you can just change the channel, or better yet, turn off the TV?

Thu, 10/06/2011 - 23:00 | 1748432 akak
akak's picture

It's like gawking at a car wreck --- you know you shouldn't, but there is a certain morbid and perverse fascination in doing so anyway.

Fri, 10/07/2011 - 02:23 | 1748785 Hook Line and S...
Hook Line and Sphincter's picture

or trying to suppress my fascination with wanting to give good loving to Barbara Boxer

Thu, 10/06/2011 - 20:46 | 1748102 TheFourthStooge-ing
TheFourthStooge-ing's picture

where does shit go when it gets sucked into a black hole?  Matter cannot be "deleted"--so where does it go?

The Fed's balance sheet.

 

Thu, 10/06/2011 - 21:37 | 1748218 DeadFred
DeadFred's picture

Matter that gets sucked into a black gets spewed out in an alternate universe. Imagine the delight when THAT starts spewing out...    Could D.C. be that alternate universe?

Thu, 10/06/2011 - 23:24 | 1748505 Manipuflation
Manipuflation's picture

Black square.  Malevich.  The shit will go directly back to where it came from and it would appear to me that the rather enormous pile of shit is already starting to make the turn based simply upon the fact that the "occupy wall street" movement is dotted with a few End the Fed signs.  Nothing to be too optimistic about just right away.  This effort is going to take some time.  But then again what do I know?  This is only my third blog post ever.LOL

Thu, 10/06/2011 - 21:38 | 1748221 rosiescenario
rosiescenario's picture

.or higher rpms and looser shit...or a combination of both....

Thu, 10/06/2011 - 23:05 | 1748444 G-R-U-N-T
G-R-U-N-T's picture

.

Thu, 10/06/2011 - 23:51 | 1748560 zoomer
zoomer's picture

I think that is the most intelligent comment I've read in the last five minutes.

Well put!

Thu, 10/06/2011 - 17:03 | 1747456 Fukushima Sam
Fukushima Sam's picture

Absolutely.  Everything is just fine over at the EU.

Thu, 10/06/2011 - 21:16 | 1748170 Dr. Richard Head
Dr. Richard Head's picture

It's obvious that the banks are under-capitalized to anyone paying attention. In fact, known since 2008 for many. There are just a couple of questions that come to my simple little lap dog husband of a man mind.

Why isn't the question of who has this capital needed to recapitalize these banks asked? More importantly, how can this capital be even be known to be available to cover the undisclosed amounts of credit default swaps if the amount of CDS isn't even known?

Many would argue that fiat debt is the capital they seek, the debt is the currency of this collapse. The reality of those rich in debt is the status quo that is being defended heavily be this financial oligopoly, while the natives grow restless on the streets. The problem is not enough know of the debt based system we live in and argue arounds the edges. Too high level for some, so to simplify it I would ask, why the Hell are they telling the people the truths now? Seems like plenty of other opportunities presented themselves in the past three years to create more debt to strap on those of the world not crony.

Either the death rattle grows louder during fiat's Hospice stay or....I don't actually think there is an or.

Sat, 10/08/2011 - 07:41 | 1752477 my puppy for prez
my puppy for prez's picture

The NWO globalist plutocrats ALWAYS tell us what they are going to do....it is part of their "code of conduct"!  It's just that not too many pay attention.  Seriously, this is how it works.  It is part of their sick occult minds to send out the warning, watch the ants go about their business,  and then do that scary Vincent Price laugh behind their fortress gates when the SHTF and society collapses.  They love it....the are evil.

Thu, 10/06/2011 - 17:40 | 1747618 mfoste1
mfoste1's picture

same old shit different day

Thu, 10/06/2011 - 21:42 | 1748225 DeadFred
DeadFred's picture

We're ramped up and at resistance. Now is the time to start the parade of doom and gloom while we take the quick trip down to the bottom of the range. Last time we cracked through a few levels, will we hit the big time on this trip? What's below 1072? I only see 1000.

Thu, 10/06/2011 - 20:19 | 1748051 He_Who Carried ...
He_Who Carried The Sun's picture
Its not just the BBC, you know... The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England, Mervyn King, said last night.

http://www.telegraph.co.uk/finance/financialcrisis/8812260/World-facing-...

Thu, 10/06/2011 - 21:31 | 1748200 Bringin It
Bringin It's picture

JIT quotes.  Just-In-Time.

 

Nice tits.

Thu, 10/06/2011 - 21:56 | 1748254 Arkadaba
Arkadaba's picture

You are actually quoting Mr. Fucking Mervyn King Ahhhh! We are lost!

Thu, 10/06/2011 - 22:28 | 1748355 Rick64
Rick64's picture

This is impossible. The banks were given stress tests and all of them passed with flying colors. Everythings fine.

Thu, 10/06/2011 - 17:46 | 1747635 agent default
agent default's picture

At that point gold spot will be about double that.

Thu, 10/06/2011 - 16:43 | 1747353 ratso
ratso's picture

Wasn't Bob Shapiro OJ's attorney?

Thu, 10/06/2011 - 16:45 | 1747369 mynhair
mynhair's picture

Didn't a scum lawyer say 'buy stocks'?

Thu, 10/06/2011 - 20:07 | 1748025 Blano
Blano's picture

Yes and now you see him hawking his website legalzoom.com.

Thu, 10/06/2011 - 16:45 | 1747367 SheepDog-One
SheepDog-One's picture

It's funny how the sheeple, the dumbest among us, apparently have endless piles of money to line up and be kornholed daily! Huh....

Thu, 10/06/2011 - 16:46 | 1747372 mynhair
mynhair's picture

Be nice.  It's every other day.

Thu, 10/06/2011 - 16:58 | 1747440 Broomer
Broomer's picture

Strength in numbers. I'll keep piling PMs, thank you very much.

Thu, 10/06/2011 - 18:20 | 1747741 Spastica Rex
Spastica Rex's picture

It's only real money when they win. If they lose, well, you know.

Thu, 10/06/2011 - 17:00 | 1747384 Ag Tex
Ag Tex's picture

You mean 13000 Ag and 56000 Au.

Thu, 10/06/2011 - 18:17 | 1747730 DosZap
DosZap's picture

Ag Tex

You mean 13000 Ag and 56000 Au.

 

LOL, we wish....................

I agree the Banks are going to start a MAJOR run there on this news, and IF they , and it's a big IF, allow this to go down, the Euro is toast, and the Metals mkts in Eurpoe will be slod out in 24 hrs.

Here??........Who knows,likely a 20% DROP.(IDIOTS)

Thu, 10/06/2011 - 20:55 | 1748130 TheFourthStooge-ing
TheFourthStooge-ing's picture

Tomorrow is payday, so I hope they throw everything they have against gold, knocking it down to $1100. That way I can buy more gold and ammo.

Gold would be back above $1700 by lunchtime Monday.

 

Fri, 10/07/2011 - 08:55 | 1749155 Ag Tex
Ag Tex's picture

Not as much of a stretch as you think.  It is more than likely low on the Au side.  Ag is about right.  (In today's purchasing power)  Shorts, leasing, derivatives, etc.........  Trillions upon trillions.  The enormity is incomprehensible.

Thu, 10/06/2011 - 21:04 | 1748149 Montgomery Burns
Montgomery Burns's picture

I've always wanted to be a multi billionaire. And to think, my 5th grade teacher said i'd never amount to anything.

Thu, 10/06/2011 - 16:54 | 1747415 IQ 145
IQ 145's picture

Another "Wing-Nut" dragged on to the stage to boost ratings for the TV show. Oh, you forgot about that aspect? The producers didn't.

Thu, 10/06/2011 - 17:00 | 1747443 knukles
knukles's picture

Oh, Mother BeeB would never engage in supercilious commercial hype to boost ratings.  After all, she is the world's defender of propriety; like dropping BC and AD from years so as to be politically correct.
Never anything so silly.

Thu, 10/06/2011 - 17:09 | 1747496 IQ 145
IQ 145's picture

Financial Insight; brought to you by the folks who anounced that "snow" would become a rare and un-seen phenomenon in England; you're probably right; they probably believe this driveling craphead.

Thu, 10/06/2011 - 17:06 | 1747476 Motley Fool
Motley Fool's picture

Strange. I would have thought people would not be interested in wing-nuts.

 

Now if he were saying something they could relate too, then I could see how that would affect ratings.

Thu, 10/06/2011 - 17:27 | 1747572 Herman Strandsc...
Herman Strandschnecke's picture

I imagine quite a few viewers will be wondering about their paychecks going/disappearing into the banking system in the next 2 to 3 weeks?

Thu, 10/06/2011 - 18:53 | 1747848 NumNutt
NumNutt's picture

The way he was going on, I was expecting one of the reporters to ask him at what point the zombies would be showing up.

Thu, 10/06/2011 - 18:58 | 1747862 Motley Fool
Motley Fool's picture

Weren't you paying attention? 2-3 weeks. :D

Thu, 10/06/2011 - 17:07 | 1747478 11b40
11b40's picture

Another wing-nut like that guy who has been 'buying' (or pumping) BOA stock? 

How those purchases working out for you, IQ145?

Thu, 10/06/2011 - 17:19 | 1747542 IQ 145
IQ 145's picture

Can't add and subtract? all the trades are posted. it's instruction in a method that doesn't relie on blogs.

Fri, 10/07/2011 - 10:45 | 1749613 11b40
11b40's picture

Where are they posted?  I would like to look.

Thu, 10/06/2011 - 17:26 | 1747568 catacl1sm
catacl1sm's picture

He bought @ 5.70. They ended at $6.28 today. It was a trade, not a long hold strategy. Pretty much any wing-nut can make a killing a market like this. Just buy in the red, hold until its green.

Thu, 10/06/2011 - 17:45 | 1747633 FinalCollapse
FinalCollapse's picture

Dead cat - sorry dead dog bounce.

Thu, 10/06/2011 - 18:08 | 1747704 phraseshifter
phraseshifter's picture

A.D.?

Thu, 10/06/2011 - 21:30 | 1748199 UBIGDummy
UBIGDummy's picture

great time to load up on FAZ, DRV, and other short funds.

Fri, 10/07/2011 - 02:10 | 1748778 crazyjsmith
crazyjsmith's picture

Is that a threat or a promise?

Thu, 10/06/2011 - 16:41 | 1747343 reader2010
reader2010's picture

Bring it on, and starve those motherfuckers to death!

Thu, 10/06/2011 - 16:43 | 1747345 SheepDog-One
SheepDog-One's picture

Nevermind all this catterwailing... awaiting certain global economic total collapse... we're having fun doing +2% daily stock rallies!

Hey Ive got my hockey helmet on for the show! Derrrrrr....

Thu, 10/06/2011 - 17:17 | 1747533 RafterManFMJ
RafterManFMJ's picture

 

 

caterwauling.

 

Thanks for the laugh tho!

Thu, 10/06/2011 - 16:42 | 1747346 Surly Bear
Surly Bear's picture

ruh-roh!

Thu, 10/06/2011 - 16:43 | 1747350 anonnn
anonnn's picture

Sarcastic news header fom Reuters via Google, just now:

OSLO (Reuters) - Barack Obama needs to make good on the promises that won him the Nobel Peace Prize...

Promises get a Peace prize?

 

Thu, 10/06/2011 - 17:01 | 1747447 knukles
knukles's picture

You mean the one to release all sealed records?

Thu, 10/06/2011 - 17:19 | 1747541 Cash_is_Trash
Cash_is_Trash's picture

You mean records like the Osama photographs?

Thu, 10/06/2011 - 17:25 | 1747564 Long-John-Silver
Long-John-Silver's picture

Frozen or thawed pic's? 

Thu, 10/06/2011 - 18:05 | 1747699 Monedas
Monedas's picture

I'd like to see Obama's baby pictures ! Where's the family album and fotos taken by family friends ? The Kenyan years, the Jakarta years and even the Hawaii years ! This guy no got history nor credible birth certificate ? Where are the interviews with people who knew him way back when ? There is serious media money to be made ! All we have is his big ears flappin' in da breeze ! He does have bigger ears than Mike Tyson ! Monedas 2011 Friends, Romans....lend me your ears !

Thu, 10/06/2011 - 18:46 | 1747832 saiybat
saiybat's picture

It's because Barry was a male prostitute before he got his forged Harvard law degree (he was never enrolled at Harvard except much later when he became a professor) after he got back from prostituting for the wealthy in Pakistan. The only school he actually attended was Columbia which he flunked out on when he got hooked on heroin and found his boyfriend that took him to Pakistan.

Someone powerful must have liked Barry's ass a lot and paved the way for him.

Sat, 10/08/2011 - 07:51 | 1752494 my puppy for prez
my puppy for prez's picture

Don't forget his time as a CIA asset in Kenya!  Both his "parents" were CIA operatives to spy on the commie goings-on in Kenya, too!  Thus, a highly creative (created, rather) bio and resume, complete with a Connecticut BC of a dead guy!  Then, he told his youngest that he had a "homework assignment" for her:  "Hey, Malia....be a good girl for Daddy and make me a birth certificate on the computer....it's due tomorrow...thanks, sweet girl!" 

Thu, 10/06/2011 - 18:54 | 1747849 knukles
knukles's picture

Didja see that the Dems introduced a bill to keep Yomamma's records permanently sealed post government service?  Didja, didja, huh, huh?
Talk about preemptive CYA.

Thu, 10/06/2011 - 17:05 | 1747473 john39
john39's picture

kissenger got a nobel peace prize in the special catagory of mass murder.   that alone explains the true nature of the "prize".  more of a "cover my ass" in advance sort of deal.

Thu, 10/06/2011 - 21:00 | 1748140 TheFourthStooge-ing
TheFourthStooge-ing's picture

Peace is to Peace Prize as patriotism is to Patriot Act.

 

Thu, 10/06/2011 - 21:19 | 1748186 zorba THE GREEK
zorba THE GREEK's picture

Nobel, who the prize is named after, invented dynamite. That don't sound peaceful to me.

Thu, 10/06/2011 - 22:14 | 1748316 jekyll island
jekyll island's picture

Yeah, he created the award to deflect the association of his name with violence and death.  Kind of like what the Federal Reserve did.  

Sat, 10/08/2011 - 07:53 | 1752496 my puppy for prez
my puppy for prez's picture

I see you did smashingly on the English part of the SAT's......good one!

Thu, 10/06/2011 - 18:32 | 1747778 disabledvet
disabledvet's picture

You just made me think of a new word. "sarcicisstic"--a combination of sarcasm and narcissism. Kind of the ultitimate in "up-yours-ology." can't wait to hear it at the Spelling Bee finals!

Thu, 10/06/2011 - 16:43 | 1747351 Gringo Viejo
Gringo Viejo's picture

No worries here. Bought 2 more rolls of Nickels this morning.

Thu, 10/06/2011 - 16:44 | 1747359 CH1
CH1's picture

I love the smell of junk silver in the morning. Nickels too.

Thu, 10/06/2011 - 18:02 | 1747686 Hearst
Hearst's picture

Junk's for the trunk.  I like mine .999 fine.

Fri, 10/07/2011 - 01:20 | 1748723 rickadoh
rickadoh's picture

little junk, more .999

Thu, 10/06/2011 - 16:45 | 1747368 catacl1sm
catacl1sm's picture

Silver fuckin rolled this morning. I'm hoping it breaks down some before the weekend so I can buy some dimes.

Thu, 10/06/2011 - 16:54 | 1747417 fonestar
fonestar's picture

Usually, when trillions of dollars of debt explode on the world market I reccomend buying three rolls of nickels.

Thu, 10/06/2011 - 18:21 | 1747745 ClassicalLib17
ClassicalLib17's picture

stupid question:  why nickels instead of pre 1982 pennies?  I would appreciate the education.  I am not wise in the ways of the business discussed on this forum.

Thu, 10/06/2011 - 18:35 | 1747790 disabledvet
disabledvet's picture

Speaking of "up-yours ology" imagine if Bernanke actually came out with a real copper penny! Then we could stop gaming the system for five minutes or so!

Thu, 10/06/2011 - 18:53 | 1747846 saiybat
saiybat's picture

Not if he gave that penny a 100 billion dollar nomination. At least it'd be a step toward fractional reserve rather than no reserve fiat.

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