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Caption Contest: Defining "Legitimate Monetization"

Tyler Durden's picture




 

The legitimacy of vulgar acts has been making headlines recently and so this morning's rumors of Mario Draghi's insistence to the European parliament that direct ECB buying three-year sovereign bonds is not 'monetary' state-financing got us thinking - just what is 'legitimate monetization' or perhaps "It's not monetization if..."

 

 

or perhaps - George Costanza is on to something:

 

(h/t William Banzai)

 

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Mon, 09/03/2012 - 11:56 | 2757778 teahouse
teahouse's picture

BULLISH!!!

Mon, 09/03/2012 - 12:03 | 2757793 TheFourthStooge-ing
TheFourthStooge-ing's picture

Mario "Milhous" Draghi: "When the ECB does it, that means that it is not monetization."

http://www.youtube.com/watch?v=ejvyDn1TPr8

Mon, 09/03/2012 - 12:15 | 2757800 BaBaBouy
BaBaBouy's picture

Pushing Hard To Lay A GOLDEN Egg {and Shits' Comin Out} ...

Mon, 09/03/2012 - 12:24 | 2757858 BaBaBouy
BaBaBouy's picture

   OR ...

GOLDMAN Has A Duck Planted Everywhere...

Mon, 09/03/2012 - 12:33 | 2757877 palmereldritch
palmereldritch's picture

If it walks like a schmuck...

Mon, 09/03/2012 - 13:04 | 2757939 greased up deaf guy
greased up deaf guy's picture

i'd suggest something like killing the goose who laid the golden egg, but that part never happened. he's been shooting blanks.

Mon, 09/03/2012 - 16:10 | 2758497 saturn
saturn's picture

Cock of the walk.

Any cock can enter ECB vagina these days.

Sounds like a cock and bull story to me.

Mon, 09/03/2012 - 13:19 | 2757885 NewWorldOrange
NewWorldOrange's picture

"AFLAC!!!" (A Fiat Lacks Absolute Criterion)

Mon, 09/03/2012 - 11:56 | 2757779 resurger
resurger's picture

You made my day by posting that you tube video ....

Mon, 09/03/2012 - 13:19 | 2757974 NewWorldOrange
NewWorldOrange's picture

deleted

Mon, 09/03/2012 - 15:38 | 2758378 Albertarocks
Albertarocks's picture

... and replaced with:

 

There once was a banker from Italy,
Who handled his job so unwittily.
Then he wiped off his ass
on this carpet of grass
And while doing so smirked at us shittily.

Mon, 09/03/2012 - 11:57 | 2757780 Transitory Disi...
Transitory Disinflation's picture

"LOOK" I have no legs just like the euro.  NO WAIT, I am a plump chicken ready to be slaughtered.

sheesh things are bad.....

Mon, 09/03/2012 - 14:01 | 2758102 boogerbently
boogerbently's picture

(The old....)

"I can't be out of money, I still have checks!"

Mon, 09/03/2012 - 14:16 | 2758152 ebworthen
ebworthen's picture

LOL.

I like it.

I do still have checks, I just need the FED to lend me $500 million at -0.05% interest at the banker back door.

"It's not debt if someone else pays for it."

Mon, 09/03/2012 - 12:01 | 2757788 nmewn
nmewn's picture

"It's not monetization if...we say its not!!!"

Mon, 09/03/2012 - 12:51 | 2757912 NewWorldOrange
NewWorldOrange's picture

Liskov Substitution Principle

If it looks like a duck and quacks like a duck but it needs monetary stimulus, you probably have the wrong abstraction.

 

Mon, 09/03/2012 - 13:22 | 2757985 goldfish1
goldfish1's picture

We can't grow ourselves out of debt, no matter what the Federal Reserve does

http://www.guardian.co.uk/commentisfree/2012/sep/03/debt-federal-reserve...

Mon, 09/03/2012 - 12:04 | 2757795 LouisDega
LouisDega's picture

" Who created me? It cant be William Banzi. His stamp is missing"

Mon, 09/03/2012 - 12:06 | 2757808 LouisDega
LouisDega's picture

Update.. Ignore. He put his stamp on the side. My eyes are going

Mon, 09/03/2012 - 20:09 | 2759009 StychoKiller
StychoKiller's picture

                             GETTING OLD

                      Baby Boomers '1960 VS 2012'

Then:   Long Hair
Now:    Longing for hair

Then:   The perfect high.
Now:    The perfect high yield mutual fund.

Then:   Keg.
Now:    EKG.

Then:   Acid Rock.
Now:    Acid Reflux.

Then:   Moving to California because it's cool.
Now:    Moving to California because it's warm.

Then:   Growing pot.
Now:    Growing pot belly.

Then:   Watching John Glenn's historic flight with your parents.
Now:    Watching John Glenn's historic flight with your children.

Then:   Trying to look like Marlon Brando or Elizabeth Taylor.
Now:    Trying NOT to look like Marlon Brando or Elizabeth Taylor.

Then:   Seeds and stems.
Now:    Roughage.

Then:   Popping pills, smoking joints.
Now:    Popping joints.

Then:   Our president's struggle with Fidel.
Now:    Our president's struggle with fidelity.

Then:   Being caught with Hustler magazine.
Now:    Being caught with Hustler magazine.

Then:   Killer weed.
Now:    Weed killer.

Then:   Hoping for a BMW.
Now:    Hoping for a BM.

Then:   The Grateful Dead.
Now:    Dr. Kevorkian.

Then:   Getting out to a new, hip joint.
Now:    Getting a new hip joint.

Then:   Rolling Stones.
Now:    Kidney stones.

Then:   Being called into the principal's office.
Now:    Calling the principal's office.

Then:   Screw the system!
Now:    Upgrade the system.

Then:   Peace sign.
Now:    Mercedes logo.

Then:   Parents begging you to get your hair cut.
Now:    Children begging you to get their heads shaved.

Then:   Take acid.
Now:    Take antacid.

Then:   Passing the driver's test.
Now:    Passing the vision test.

Then:   "Whatever"
Now:    "Depends"

Mon, 09/03/2012 - 12:04 | 2757796 bugs_
bugs_'s picture

Its legitimate monetization when the Central Bankers buy MY bonds.

Mon, 09/03/2012 - 12:53 | 2757921 NewWorldOrange
NewWorldOrange's picture

"Duck Test, Shmuck Test. Fiat is mutable. That's why it's called fiat." -- Draghi

Mon, 09/03/2012 - 12:05 | 2757802 Gordon Freeman
Gordon Freeman's picture

"A mind is a terrible thing to lose...How true this is."

                                         --Dan Quayle

Mon, 09/03/2012 - 12:11 | 2757811 Wakanda
Wakanda's picture
...il est pâté de canard!
o
...es paté de pato!
Mon, 09/03/2012 - 12:09 | 2757819 BeetleBailey
BeetleBailey's picture

The Euro....ah......ah......ah......AH-CHOOOOOOOOAFFFFFFFFFFFFFFLACCCCCCCCCCCC!

Mon, 09/03/2012 - 12:12 | 2757824 AnAnonymous
AnAnonymous's picture

"I am an American and I am humbled to that? WTF"

Mon, 09/03/2012 - 12:26 | 2757866 TheFourthStooge-ing
TheFourthStooge-ing's picture

"It's not monetization if a Chinese citizenism citizen is paid to spread the propaganda that it's yet another manifestation of the eternal nature US citizenism in a US citizen country which happens not to be the actual US of A."

That will be 39 renminbi, please.

Mon, 09/03/2012 - 13:01 | 2757932 slewie the pi-rat
slewie the pi-rat's picture

if the marioECBsquid declares: "costanza is not kramer" he would win this caption contest himself, comrade BiCheZ!

Mon, 09/03/2012 - 12:12 | 2757825 Dick Darlington
Dick Darlington's picture

Unicorn ran over the rainbow, humped a rusty pot of bad debt and suddenly an euro-genie eating a banana appeared and said: "Monetization is not monetization if we just buy a little bit in the name of zee stabeeletee"

Mon, 09/03/2012 - 12:12 | 2757826 Rollerball
Rollerball's picture

... the liberation of Gotham has begun!

Danny Divito (http://www.imdb.com/title/tt0103776/quotes?qt=qt0427743 )

Mon, 09/03/2012 - 12:12 | 2757827 The Watchman
The Watchman's picture

White meat = legitimate

Dark meat = illegitimate

Mon, 09/03/2012 - 12:12 | 2757829 Tenshin Headache
Tenshin Headache's picture

Monetization is legitimate if you're prepared to turn your currency into chicken feed.

Mon, 09/03/2012 - 12:13 | 2757830 Atomizer
Atomizer's picture

Saúl {Alinsky} Lizondo of the IMF’s Western Hemisphere Department talks about the outlook and challenges for the Caribbean region and expected outcomes from the High Level Caribbean Forum taking place in Trinidad and Tobago on September 4-5.

http://www.imf.org/external/mmedia/view.aspx?vid=1814798770001

 

Our advertising efforts to jumpstart the tourism economy have failed. We need to revisit our approach by not scarring the shit out potential passengers over a manufactured government stickman terrorist threat. Those new x-ray screening machines will have to be put on the back burner. How can we expect to subsidize this cost if overall tourism traffic is down.

Mon, 09/03/2012 - 12:13 | 2757831 Peter K
Peter K's picture

"The're gonna put y'all in chains!"

Mon, 09/03/2012 - 12:35 | 2757882 The Shootist
The Shootist's picture

"Back in chains." We'll bail them in the air and on the beaches, in the fields and in the streets, we will never surrender to gold."

Mon, 09/03/2012 - 12:16 | 2757832 buzzsaw99
buzzsaw99's picture

mirror, mirror, on the door

make my nuggets hit the floor

Mon, 09/03/2012 - 12:15 | 2757836 cohutt
cohutt's picture

"I have rump-fooked  the goose that laid the golden egg.  Carry on."

Mon, 09/03/2012 - 12:17 | 2757840 Lofty
Lofty's picture

Christmas is approaching and I don't want to get stuffed...oh wait a minute

Mon, 09/03/2012 - 12:17 | 2757845 pain_and_soros
pain_and_soros's picture

Just say no to Draghi...

or in German, Keine macht den Draghi

Mon, 09/03/2012 - 12:20 | 2757849 WALLST8MY8BALL
WALLST8MY8BALL's picture

Folks, now here's the story 'bout Mario the Moocher,
he was a red-hot screw the poocher,
He was the weakest, lamest fail,
And Mario had a heart as big as a snail.

Hi-de-hi-de-hi-di-hi!
All de Dough de Dough de Dough
He-de-he-de-he-de-he!
All de Dough de Dough de Dough

Now, he messed around with a Gal named Angie

he loved her though she was a Euro Banshee,
He took her down to Brussels town,
He showed her how to kick the can around.

 

Hi-de-hi-de-hi-di-hi!
All de Dough de Dough de Dough
He-de-he-de-he-de-he!
All de Dough de Dough de Dough

Now, he had a plan for Borg of Sweden,
He wanted cash the EU was needin',
He tried to give them an ECB supervisor

Sweden said no cuz Borg was much wiser!


Hi-de-hi-de-hi-di-hi!
All de Dough de Dough de Dough
He-de-he-de-he-de-he!
All de Dough de Dough de Dough

Poor Europe Poor Europe Poor Europe!

 

Mon, 09/03/2012 - 12:21 | 2757852 buzzsaw99
buzzsaw99's picture

Are those Olive Oyl's boots?

 

I'm strong to the Finnish

'cuz I eats me chicken parmesan with spinach

toot toot!

Mon, 09/03/2012 - 12:22 | 2757854 giggler123
giggler123's picture

If dodo's are extinct what am I?

Mon, 09/03/2012 - 12:25 | 2757863 AndItsGone
AndItsGone's picture

From what I understand, if it's legitimate monetization, gold and silver have ways to shut the whole thing down.

Mon, 09/03/2012 - 12:29 | 2757869 Silverhog
Silverhog's picture

He looks like Donald Fuck.

Mon, 09/03/2012 - 12:30 | 2757871 tahoebumsmith
tahoebumsmith's picture

The Federal Reserve, The Treasury Dept, The State Of California, The ECB, practically every city in America... They are all guilty of keeping the Ponzi alive by stealing from the children and leaving them with a bunch of worthless paper, pretending that someday it will actually be worth something.

http://www.youtube.com/watch?v=7GSXbgfKFWg

Mon, 09/03/2012 - 12:30 | 2757874 Beau Tox
Beau Tox's picture

If it looks like a duck, and it quacks like a duck, . . .

Mon, 09/03/2012 - 12:33 | 2757876 BrigstockBoy
BrigstockBoy's picture

walks like a duck, quacks like a duck...it's a phuckin' duck.

Mon, 09/03/2012 - 12:34 | 2757879 XRAYD
XRAYD's picture

It is like "legitimate rape" - it does not work, so women don't get pregnant - likewise, monetizing debt with debt does not create prosperity for any country!

Mon, 09/03/2012 - 12:35 | 2757880 tocointhephrase
tocointhephrase's picture

Kill it! There must be more inside?

Mon, 09/03/2012 - 12:35 | 2757883 Miss Expectations
Miss Expectations's picture

just what is 'legitimate monetization'....the same as 'legitimate rape'   why are all these fuckers going on about legitimate this and legitimate that...using this word in such close proximity to things abhorrent is just wrong.

Mon, 09/03/2012 - 12:36 | 2757886 mudduck
mudduck's picture

It's legit monetization if we say that we are monetizin. and we monetize. But it's not monetizin' if we say we aren't monetizin' when we monetize. It's also not monetizin' if we monetize but don't say anything, even if we get caught secretly monetizin', cuz y'know when things get bad ya gotta lie, but as illustrated above, it ain't liein' if you believe it and it ain't monetizin' no matter what anybody believes, unless we say it is. Which we never will. So there is no monetizin'. Even if it seems like there is. There isn't.

Mon, 09/03/2012 - 12:37 | 2757889 Shit Floats to ...
Shit Floats to the Top's picture

"It's not monetization if...ah if...if...hey look over there at that pretty shiny thing isn't it pretty and shiny?"

Mon, 09/03/2012 - 12:59 | 2757929 NewWorldOrange
NewWorldOrange's picture

"It's not monetization if our fiat says so."

Mon, 09/03/2012 - 12:40 | 2757890 JR
JR's picture

Ca ching with a criminal ring -  billed “Montization”  - is a criminal production starring Draghi, Bernanke and Monti – brought to you by Goldman Fed Monetizers, coming soon to a recession near you.

It’s all about intrigue:  what the Goldman Citi Mob has done with Benny’s big bucks, the first $16 Trillion in Secret Bailouts?

Will Citigroup be attacking world hunger with its money? No wait! With $2.5 trillion you could dominate all the world’s corporations through leveraged positions; you could buy out and control all the world’s media; you could finance wars on your own; you could financially support your friends to overwhelm and destroy their competitors; you could take over and control politicians of several foreign nations; you could purchase controlling interests in European banks; or, you could sit back and buy the Congress of the United States and the Presidency to help you keep the money flowing. Watch this unfolding of "Montization."

The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places

 

Mon, 09/03/2012 - 12:53 | 2757922 bob_dabolina
bob_dabolina's picture

In other news, wheels are round.

Mon, 09/03/2012 - 12:40 | 2757892 sangell
sangell's picture

Its not day if I say its night

It's not black if I say its white

Its not wrong if I say its right

I'm not monetizing nuthin,

cause that's against the rules

I've got a Central Banking tool kit

and I'm a Central Banking fool

 

Mon, 09/03/2012 - 12:41 | 2757895 Dick Darlington
Dick Darlington's picture

Rick James in Charlie Murphy's "True Hollywood Stories":

See, I never just did things just to do them, c'mon I mean, what I'm gonna do just all of the sudden just jump up and grind my feet in somebody's couch like it's something to do? Come on, I got a little more sense than that. ...Yeah, I remember grinding my feet into Eddie's couch.

 

IMO that sounds just like Draghi (or any other €-stooge for that matter).

Mon, 09/03/2012 - 22:36 | 2759270 palmereldritch
palmereldritch's picture

 Charlie Murphy!

Mon, 09/03/2012 - 12:45 | 2757899 zorba THE GREEK
zorba THE GREEK's picture

This whole printing money to solve everyone's problems stinks. It's just debt default

by way of inflation. Did someone step on a duck?

Mon, 09/03/2012 - 12:49 | 2757910 JR
JR's picture

Draghi: the Goldman Goose. If it walks like a duck, talks like a duck...and lays eggs...

Mon, 09/03/2012 - 12:52 | 2757916 mudduck
mudduck's picture

"Did someone step on a duck?" No they fucked it. But the duck cried rape. And now apparently the duck is pregnant. Will keep you updated.

Mon, 09/03/2012 - 12:56 | 2757901 yogibear
yogibear's picture

Round robin of western curremcy devalutions.  Steal wealth by the boldened central banksters.

It's their way to keep the ponzi going. Europe, Japan, US, Europe, Japan, US, Europe, Japan, US, etc.

Draghi is an officer of the Goldman Sachs bankster army.

A mad rush to get out of fiat soon.

Mon, 09/03/2012 - 12:47 | 2757908 1C3-N1N3
1C3-N1N3's picture

"GRAFT-LAC!"

Mon, 09/03/2012 - 13:19 | 2757977 JR
JR's picture

Brilliant segue! “Self-financed and the result of many, many hours of hard graft, 'LAC' started to pay dividends when it began to reach the ears of some of most influential players.”

Mon, 09/03/2012 - 12:51 | 2757914 ArrestBobRubin
ArrestBobRubin's picture

Serial liar Mario Draghi, the Elie Wiesel of Ponziworld

Mon, 09/03/2012 - 12:59 | 2757930 Atomizer
Atomizer's picture

European Debt Crisis Explained --- December 18, 2011

 

Steve Liesman to reinstate the importance of an immediate EU bailout in 3,2,1….

Rick Santelli vs Steve Liesman Should the US Bailout Europe| June 2012 

Killing Joke - European Superstate

 

Mon, 09/03/2012 - 13:05 | 2757941 crzyhun
crzyhun's picture

This is how you do the time-warp, felhas.

Mon, 09/03/2012 - 13:07 | 2757945 NewWorldOrange
NewWorldOrange's picture

"What don't you proles understand about the word "fiat"?

Mon, 09/03/2012 - 13:09 | 2757949 Joebloinvestor
Joebloinvestor's picture

These FUCKS are gonna say and do anything to save their own sorry asses.

And FUCK Bernanke for getting involved (secretly of course) for buying their shit.

Ben, forget that statue of you being erected for being the "Saviour of the EU".

Draghi will be a footnote in the EU bankruptcy.

Mon, 09/03/2012 - 13:13 | 2757950 Juan Wild
Juan Wild's picture

goosey goosey goose step
to my inkjet print step
hungry not me step
screw the citizen step
got my ROTHSCHILD gold step
delivered to my door step
so fuck you mother fuckers step
And do the goosey goose step!

Mon, 09/03/2012 - 13:11 | 2757955 Nachdenken
Nachdenken's picture

Lame Duck.

Mon, 09/03/2012 - 13:18 | 2757961 Zero Govt
Zero Govt's picture

If it looks like a duck

walks like a duck

and quacks like duck

then it must be another ECB turkey

Mon, 09/03/2012 - 13:16 | 2757969 magpie
magpie's picture

Club of legitimate Monetizers

Mon, 09/03/2012 - 13:21 | 2757982 dingoj
dingoj's picture

Gee, thanks for the new livery, Mr Blankfein! But please don't do me off yet, sir, I'm still useful!

 

Mon, 09/03/2012 - 13:37 | 2758037 luckylongshot
luckylongshot's picture

There is a famous joke about a leprechaun getting drunk and arguing with his friend afterwards about who he had sex with. He claimed it was a leprechaun nun, his friend said it was a penguin....and now there is a third option...Mario Draghi.

Mon, 09/03/2012 - 13:57 | 2758072 socalbeach
socalbeach's picture

As long as monetization is conceived while married it's legitimate.

Mon, 09/03/2012 - 13:56 | 2758090 williambanzai7
williambanzai7's picture

Of all the pictures I have done of him, the lame duck in the Napoleon jacket seems most fitting.

Mon, 09/03/2012 - 14:20 | 2758164 lamont cranston
lamont cranston's picture

WB7-

No, Talleyrand jacket. As Napoleion said of him, "You're shit in silk stockings." The moniker fits. 

Mon, 09/03/2012 - 15:17 | 2758308 magpie
magpie's picture

"How can someone so powerful be so ill behaved"

Talleyrand about Napoleon

Mon, 09/03/2012 - 14:02 | 2758105 RiskAverseAlertBlog
RiskAverseAlertBlog's picture

Wasn't this the point of the Minsky read the other day? The question is whether Minsky imagined an environment in which "big government" could prevent another Great Depression subsequent to the nation seeing the productivity of its physical economy but thoroughly decimated, while at the same time being held hostage to bond holders in a paradigm purposely made blind to any lack of due diligence on their part? It's unlikely that, in this climate he would find debt monetization legitimate.

Mon, 09/03/2012 - 14:20 | 2758161 RiskAverseAlertBlog
RiskAverseAlertBlog's picture

Pardon me for not being relevant to this post's inquiry...

Secret ECB Millenial Quest Seeks Answer to Ancient Mystery: Will the real Spartucus please stand up?

Mon, 09/03/2012 - 14:05 | 2758108 BlackholeDivestment
BlackholeDivestment's picture

...you can get labor to follow the Suicide Vampire Squid's New Lame Duck, marching to the Winter of our discontent, after being raped ...aagain and ...aaaaagain ...and again...

Mon, 09/03/2012 - 14:17 | 2758154 lamont cranston
lamont cranston's picture

If I walk like a duck, look like a duck, and quack like I'm a duck....I'm not a duck. 

I'm a Bernankacopterus liquidius

Mon, 09/03/2012 - 14:33 | 2758196 BlackholeDivestment
BlackholeDivestment's picture

Lol Lamont, that's better than Chuckduckelope. http://www.youtube.com/watch?v=cSlr6Ft-Rv0

Mon, 09/03/2012 - 14:39 | 2758207 SaveTheGreenback
SaveTheGreenback's picture

If it looks like a duck and quacks like a duck...its-a Draghi...

Mon, 09/03/2012 - 14:59 | 2758269 magpie
magpie's picture

my bad...almost sounded like a La vita e bella reference

Mon, 09/03/2012 - 14:48 | 2758235 Peter Pan
Peter Pan's picture

Looking at the photo of Draghi I am reminded of the expression......dead as a dodo.

Mon, 09/03/2012 - 15:09 | 2758294 KickIce
KickIce's picture

Obviously a witch.

He turned me into a newt...

I got better.

Mon, 09/03/2012 - 15:25 | 2758326 stika
stika's picture
ollin' Rollin' Rollin'

Keep movin', movin', movin',
Though they're disapprovin',
Keep them doggies movin' Rawhide!
Don't try to understand 'em,
Just rope and throw and grab 'em,
Soon we'll be living high and wide.
Boy my heart's calculatin'
My true love will be waitin', be waiting at the end of my ride.

Move 'em on, head 'em up,
Head 'em up, move 'em out,
Move 'em on, head 'em out Rawhide!
Set 'em out, ride 'em in
Ride 'em in, let 'em out,
Cut 'em out, ride 'em in Rawhide.

Full Lyrics

Rollin', rollin', rollin'
Rollin', rollin', rollin'
Rollin', rollin', rollin'
Rollin', rollin', rollin'
Rawhide!

Mon, 09/03/2012 - 15:31 | 2758348 trichotil
trichotil's picture

If it infiltrates like a rothschild minion, wrecks nations like a rothschild minion,

worked for goldman like a rothschild minion, then it's a  masonic kosher satanist duck.

 

http://investmentwatchblog.com/mario-draghi-summarized-in-late-2009-the-...

Mon, 09/03/2012 - 17:00 | 2758640 Catflappo
Catflappo's picture

I am fed up with people suggesting fiat currency has no physical backing.   Last time I checked they made cars and they are as good a physical asset as I know.

I sleep easy at night knowing the banknotes in my wallet are backed by the Panda Standard.

Mon, 09/03/2012 - 18:04 | 2758780 Poor Grogman
Poor Grogman's picture

Trust me it's for the greater good.

We need to abandon (openness and transparency) to save it....

Mon, 09/03/2012 - 18:58 | 2758877 EclecticParrot
EclecticParrot's picture

"Yeeeeep !!!   Come on , Angela !!   Only you would take the "goose" in "Duck, duck, goose" literally.  Next time, try tapping me on the head or, better yet, keep your Teutonic hands to yourself !"

Mon, 09/03/2012 - 19:06 | 2758895 KingTut
KingTut's picture

DUCK!  Interest rates are falling!

Mon, 09/03/2012 - 19:29 | 2758936 Glasshopper
Glasshopper's picture

I swear I was in Basel a minute ago and I was .... no wait ... what's this popping out my butt

Mon, 09/03/2012 - 19:59 | 2758991 Cosimo de Medici
Cosimo de Medici's picture

"When I was a young Weimar German we used to have to walk five kilometers through waist-deep fiat every morning to get to school"

Mon, 09/03/2012 - 20:19 | 2759030 DollarDive
DollarDive's picture

"Will Robinson"... danger danger..... We've just identified an alien

Mon, 09/03/2012 - 20:32 | 2759065 catch edge ghost
catch edge ghost's picture

... while attempting hereby to defeat and impair the legal right of the Party of the Second Part, the Parties hereto hereby agree:

(a) That a duplicate original of this contract of the said Party of the First Part is negotiable, assignable, and capable of being pledged or hypothecated;

(b) That when the above mentioned money debt has been fully paid, and when all of the other obligations hereunder of the Party of the Second Part have been fully performed, the Party of the First Part shall have the right, at his option, to lol at said Party of the Second Part or to his lawful successor or successors.

Mon, 09/03/2012 - 21:59 | 2759211 Anne Ominous
Anne Ominous's picture

Feathers ruffled and quacks appearing as Europe ducks issues of capital flight, despite egging on from Draghi many are left with a wing and a pare as periphery shell game sends interest rates marching higher.

Tue, 09/04/2012 - 02:18 | 2759461 Blond Viking
Blond Viking's picture

"Penguin in bondage"

 

http://www.youtube.com/watch?v=z5nBrZgtbxQ

 

(I attended this very concert. Nine years old, sitting on my dad's shoulders.)

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