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Bloomberg's Freudian Hyperinflationary Blast From The Future - Overnight Euro Libor At 39,929%

Tyler Durden's picture




 

Now this is one funny, and very apropos, fat finger. Save this post - in a few years it will be revisited only then it won't be a joke.

h/t Stanislaw

 

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Thu, 12/22/2011 - 12:28 | 2004214 anynonmous
anynonmous's picture

Listen to Bloomberg's Arthur Levitt along with Tom Keene and Ken Prewitt trash Ron Paul

 

http://media.bloomberg.com/bb/avfile/vG8rUpVFlYD8.mp3

 

let Tom Keene know how you feel

 

tkeene@bloomberg.net

http://rejstrik-firem.kurzy.cz/26723492/bloomberg-l-p-czech-republic-bra...

Thu, 12/22/2011 - 12:34 | 2004237 GeneMarchbanks
GeneMarchbanks's picture

I heard it live today and it was blatant, I think Keene was caught by surprise but you can never tell. It begins. If this is your plan, you'll be writing many e-mails for the next couple of months...

Thu, 12/22/2011 - 12:38 | 2004246 nope-1004
nope-1004's picture

If the Algos gaming the trades creating "wealth effect" are real, then shouldn't this be also?

Of course, the shills in the game will pick and choose which algo driven dynamic is correct, and refuse to acknowledge the converse.

 

Thu, 12/22/2011 - 13:04 | 2004291 disabledvet
disabledvet's picture

Sounds like someone should fix that.

Thu, 12/22/2011 - 12:40 | 2004250 Sean7k
Sean7k's picture

Arthur levitt gives jews a bad name and that's saying something. That is a hit piece, name calling, specific triggers- please. 

Thu, 12/22/2011 - 12:52 | 2004271 Freewheelin Franklin
Freewheelin Franklin's picture

They are circling the wagons and gathering pitchforks. Gloria Borger on CNN attacked him in an interview.

Thu, 12/22/2011 - 15:05 | 2004831 MillionDollarIdiot
MillionDollarIdiot's picture

 

 

Emailed him!

Thu, 12/22/2011 - 15:09 | 2004852 JPM Hater001
JPM Hater001's picture

Today was a coordinated attack on Ron Paul.  Fox and Friends trashed him too.
I wish I got RT News.

Thu, 12/22/2011 - 15:12 | 2004867 JPM Hater001
JPM Hater001's picture

Today was a coordinated attack on Ron Paul.  Fox and Friends trashed him too.
I wish I got RT News.

Thu, 12/22/2011 - 12:34 | 2004235 clones2
clones2's picture

Bullish?

Thu, 12/22/2011 - 12:40 | 2004251 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

In 2009 there was $500 billion of growth in the economy (UN report).  Another UN report showed that laundered drug money equaled.....$500 billion.

Why do you think pot is still illegal?  If it was legal everyone that wanted to smoke it would grow their own, because it is simple to grow, as it is a weed.

My friends who farm wanted to keep it illegal more than anyone I know, those chumps!

Thu, 12/22/2011 - 12:50 | 2004269 LongBallsShortBrains
LongBallsShortBrains's picture

If you only knew. Here is a great read.

http://www.jackherer.com/thebook/chapter-one/

If you read the whole book, you will see that they have done with hemp, the same as the financial sector. The removing of this one resource from our planet has hurt us more than all the drugs in the world ever will. Very enlightening.

Thu, 12/22/2011 - 12:51 | 2004270 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Yeah hemp oil could run cars, and it is abundant, because weeds grow like weeds, and the oil is nutritious, and when you smoke it it makes sex better, etc

Thu, 12/22/2011 - 14:25 | 2004637 SV
SV's picture

Can't say anything to the effect of getting enough sexual friction to cause hemp oil smoke point, but most of the cheeba monkeys I know don't want hemp legalized either.  Why - because cross pollination would reduce potency.  I'm down with hemp; my clothes wrok.

Thu, 12/22/2011 - 14:56 | 2004785 gangland
gangland's picture

only smoke indoor  hydro no cross polination max yield and potency out door sucks ass

Thu, 12/22/2011 - 12:58 | 2004278 americanspirit
americanspirit's picture

I know it's talking my book, and apologize if anyone's offended, but in 1969 I wrote the first Grow Book - The Cultivators Handbook of Marijuana - in which I predicted the drug cartels and police state that would emerge if folks didn't start growing their own and fight for the right to do so. If anyone is interested in my latest work please visit www.cultivatorshandbook.com

 

Thu, 12/22/2011 - 15:15 | 2004886 gangland
gangland's picture

great site, thanks for the link.

you may enjoy a book by wade davis called "one river" fascinating book.  similar to your experiences, it traces the travels of a botanist in south america.

 

here is a good review with long excerpts.

http://www.rimba.com/oneriver/oneriver.html

 

Fri, 12/23/2011 - 04:30 | 2006599 zhandax
zhandax's picture

Definitely thanks for the homegrown tobacco link.  I had considered growing a few plants last year, but by the time the thought occurred, it was too late.  After hearing the pesticides that are in most of the commercial brands, and with some instructions, I am inclined to plant a new tobacco 'hedge' at the edge of the back yard next year.

Thu, 12/22/2011 - 13:06 | 2004297 disabledvet
disabledvet's picture

Absolutely. I'm buyin. ... The money that is!

Thu, 12/22/2011 - 12:34 | 2004236 Silver Bug
Silver Bug's picture

This whole financial system will be looked back on as a complete joke.

 

http://ericsprott.blogspot.com/

Thu, 12/22/2011 - 12:44 | 2004257 LongBallsShortBrains
LongBallsShortBrains's picture

CRash is King

Thu, 12/22/2011 - 12:21 | 2004196 Ancona
Ancona's picture

Too much eggnog at the party?

Thu, 12/22/2011 - 12:22 | 2004203 GeneMarchbanks
GeneMarchbanks's picture

Priceless. Seriously there isn't enough fiat. Or too much I can't tell anymore...

Thu, 12/22/2011 - 12:32 | 2004229 cat2
cat2's picture

That's exactly what the weimar germans said.  Need more fiat!

Thu, 12/22/2011 - 12:23 | 2004204 RichardENixon
RichardENixon's picture

Hey, that's almost as high as my credit card interest rate!

Thu, 12/22/2011 - 15:12 | 2004872 Zero Govt
Zero Govt's picture


39,929% is cheap at the price

but Bernanke and Count Dracula must be pissing their pants... they're committed to zeros ...or committed zeros ...probably both 

Thu, 12/22/2011 - 12:23 | 2004205 Dr. Engali
Dr. Engali's picture

They will alway tell you what the are going to do to you before they do it,

Thu, 12/22/2011 - 13:13 | 2004308 Raging Debate
Raging Debate's picture

Isn't that the wierdest thing Dr. Engali? It is like somehow, we cannot avoid collective guilt at the subconsience level. But this is not my field of study so it is just conjecture on my part as to why they reveal evil intent.

 One thing I have noticed is that those big, special statements require tracking them for a decade or two. Like Russia in 1992 allying with China and declaring the world will be multipolar, not unipolar. I don't think the West took them all that seriously. Hubris and all that.

 

Thu, 12/22/2011 - 13:13 | 2004309 Raging Debate
Raging Debate's picture

Isn't that the wierdest thing Dr. Engali? It is like somehow, we cannot avoid collective guilt at the subconsience level. But this is not my field of study so it is just conjecture on my part as to why they reveal evil intent.

 One thing I have noticed is that those big, special statements require tracking them for a decade or two. Like Russia in 1992 allying with China and declaring the world will be multipolar, not unipolar. I don't think the West took them all that seriously. Hubris and all that.

 

Thu, 12/22/2011 - 14:51 | 2004754 Dr. Engali
Dr. Engali's picture

I don't think it's unconcious guilt of the collective. I think it's the hubris of the powers that be.  Look at the movie Minority Report. When that came out it sent out bells and whistles to me. But when I would talk to colleagues about it they thought I was nuts. But now I can show you numerous reports where they are trying to profile people based on their life styles as to whether or not they will commit a crime.

Thu, 12/22/2011 - 21:43 | 2006066 StychoKiller
StychoKiller's picture

Hmm, only a pre-criminal would be concerned about this... :>D

Thu, 12/22/2011 - 12:23 | 2004206 economics1996
economics1996's picture

The only reason inflation is not 10% or higher is all the parked excess reserves sitting idle at the Fed or in T-bills.  Combined with the 8 million plus workers not getting a check and placed on the government dole.  Bernanke and Obama/Bush are fucking criminals.

Thu, 12/22/2011 - 12:42 | 2004253 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

No, it's the deflation of the housing market, and other deflation scenarios that is keeping the lid on hyperinflation.  Excess reserves expand the money supply; not as much as assets, but they do expand it.

Thu, 12/22/2011 - 13:08 | 2004273 hedgeless_horseman
hedgeless_horseman's picture

 

 

Inflation is our number one export.

 

1 lb. Ground Beef

Sample of U.S. Prices:

Portland, Ore.: $2.79
Little Rock, Ark.: $3.10
Los Angeles, Calif.: $5.29

Sample of World Prices:

Canada: $3.07
Germany: $4.93
Australia: $5.75
Belgium: $6.06
South Africa: $7.04
London: $9.03
Paris: $11.20
Taiwan: $11.50

http://www.dailyfinance.com/photos/food-price-comparison-around-the-world/3656012/

 I would gather that China and Persian Gulf states are even higher.

Thu, 12/22/2011 - 13:09 | 2004302 disabledvet
disabledvet's picture

So how does one "import deflation" then? Does "buy American" sound about right?

Thu, 12/22/2011 - 13:21 | 2004306 hedgeless_horseman
hedgeless_horseman's picture

 

 

how does one "import deflation"

One way nations try to "import deflation" is by subsidizing consumers (see gasoline prices in any country that can print money).  But like exporting inflation, this too is transitory.  Additionally, no country can keep up with the US and our ability to print the global reserve currency (also transitory).

Gallon of Regular Gas

Sample of U.S. Prices:

Portland, Ore.: $4.19
Little Rock, Ark.: $3.94
Los Angeles, Calif.: $4.39

Sample of World Prices:

Kuwait: $0.78
India: $1.33
Moscow: $2.10
South Africa: $2.62
London: $5.79
Hong Kong: $8.30
Belgium: $9.27
Germany: $11.26

http://www.dailyfinance.com/photos/food-price-comparison-around-the-world/3656012/

Thu, 12/22/2011 - 15:30 | 2004817 gangland
gangland's picture

where are they getting those LA prices for a pound of meat and a gallon of gas? malibu? whole foods?

they don't represent the average price, they've picked close to the highest prices they could find.

 

avg price for gallon of 87 octane gas: 3.55

avg price for pound of 15% fat ground chuck beef: 3.65

Thu, 12/22/2011 - 16:45 | 2005222 smiler03
smiler03's picture

Agreed, London car drivers would die for gas at $5.79 a (smaller) US gallon. My calculation is just under $6.50

EDIT: Apologies, I am talking shit.

Thu, 12/22/2011 - 13:37 | 2004374 economics1996
economics1996's picture

We export by running a trade deficit that must be financed through purchases of T-bills, bonds, notes.  China buys the bonds and exports the goods.  China consumes fewer goods and more dollars.  Get it?

Thu, 12/22/2011 - 14:42 | 2004708 ucsbcanuck
ucsbcanuck's picture

Canada's cheaper than Little Rock

Germany's cheaper than LA

Thu, 12/22/2011 - 13:35 | 2004357 economics1996
economics1996's picture

When them excess reserves are used to purchase real things in the form of loans or outright purchases the lid will blow off.

The labor force participation rate is at a 27 year low, millions with less purchasing power moved out of the economy, less production, more government consumption, misallocation of resources in favor of the parasite class.

Thu, 12/22/2011 - 15:56 | 2005057 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

yup

Thu, 12/22/2011 - 13:54 | 2004473 Missiondweller
Missiondweller's picture

According to Shadowstats we DO have 10% inflation using the older calculation without all the substitution and hedonics.

 

That would imply negative growth of around 8% which is much closer to what the economy feels like.

Thu, 12/22/2011 - 12:24 | 2004207 Lee Adler - The...
Lee Adler - The Wall Street Examiner's picture

Bad ticks are always revisited. 

Thu, 12/22/2011 - 12:25 | 2004211 Schmuck Raker
Schmuck Raker's picture

Finally, a little transparency!

Thu, 12/22/2011 - 12:25 | 2004212 jomama
jomama's picture

lolwut?

Thu, 12/22/2011 - 12:27 | 2004216 Quintus
Quintus's picture

Are payday lenders now included in the Libor quote sample?

Thu, 12/22/2011 - 13:11 | 2004304 disabledvet
disabledvet's picture

Apparently they are the Libor! I'm shocked, shocked that "no one is in control of that thing"!

Thu, 12/22/2011 - 12:27 | 2004218 pods
pods's picture

Looks like the Total Borrowings at the FED circa 2008.

http://research.stlouisfed.org/fred2/series/BORROW?cid=122

pods

Thu, 12/22/2011 - 12:28 | 2004222 Caviar Emptor
Caviar Emptor's picture

PRINT Button stuck. Service request in progress. 

Thu, 12/22/2011 - 13:15 | 2004258 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Timmah had been up all night playing PPT and drinking Jolt when he noticed that the Libor print was some tens of thousands of points higher.  He had not seen Bernanke since Timmah had lit the tree house on fire, but if this news was true, he knew who had done it. 

Timmah called Summers, his old boss, to see if it was true.

"Timmah!"

"Yes, I saw it too Timmah.  It must be an error, but would you be a good boy and run over to the Temple and check on Benny boy.  It is still early to let 'er rip, if you know what I mean."

"Timmah."  Timmah said obediantly.

So Timmah put on his Batman outfit and got on his tricycle and sped away to the Temple known as the Federal Reserve.

Once he got there he crept inside to Bernanke's lair.  He peaked around the corner and saw Bernanke pressing buttons and laughing maniacally. 

"Print, baby, print!  Bahahahaha!!!!"

Timmah got on the phone.  "TIMMAH!"  He whispered into the cell.

"Oh no!  He's lost it!  All of our work, ended early!  Hyperinflation was not suppossed to come until war with Iran!  He will ruin us all!  You must stop him Timmah!"

Timmah knew his time to save the Fiat Ponzi had come.  "Timmah!"

Thu, 12/22/2011 - 21:52 | 2006093 StychoKiller
Thu, 12/22/2011 - 12:30 | 2004223 Sudden Debt
Sudden Debt's picture

It could also be called: Sharkloans

Thu, 12/22/2011 - 12:31 | 2004227 Dr. Engali
Dr. Engali's picture

Payday advance loan.

Thu, 12/22/2011 - 12:42 | 2004255 Ocean22
Ocean22's picture

Watching CNN. Right now and they are in process of killing Ron Paul. He does not stand a chance.

Thu, 12/22/2011 - 13:57 | 2004490 tmosley
tmosley's picture

I take it you never heard Ghandi's most famous quote.

Thu, 12/22/2011 - 12:44 | 2004256 spartan117
spartan117's picture

I don't think it was an accident.  Most likely TPTB are telegraphing what's to come.

Thu, 12/22/2011 - 12:59 | 2004280 wandstrasse
wandstrasse's picture

...like sb interpreting the Beach Boys tune 'raise-raise-raise, raise-raise LIBOR'

Thu, 12/22/2011 - 13:09 | 2004303 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Fun, fun, fun, 'till Benny took the LIBOR away

Thu, 12/22/2011 - 12:46 | 2004262 Dcheeth2
Dcheeth2's picture

Those are scary figures. What was the Libor rates pre-Lehman?

Thu, 12/22/2011 - 12:56 | 2004275 Rynak
Rynak's picture

High frequency market simulation. They just tested 2012 in one ms.

Thu, 12/22/2011 - 14:34 | 2004670 slewie the pi-rat
slewie the pi-rat's picture

no sigmas?  L0L!!!

Fri, 12/23/2011 - 00:29 | 2006418 ThrivingAdmistC...
ThrivingAdmistCollapse's picture

The financial sector is totally out of control.  We might well have a monetary economic collapse at some point next year.

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