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Cue Hyperinflation In 5... 4... 3...
This pretty much says it all:
- BOE'S POSEN SAYS TIME FOR CENTRAL BANKS, INCLUDING BOE, TO BUY PRIVATE ASSETS
- POSEN SAYS BUYING PRIVATE-SECTOR ASSETS WOULD HELP ECONOMY
Buy. Real. Assets. Now
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Ah yes - money velocity through buying instead of giving the sheep the last cigarette of running the banks. You know these Central Planners are control freaks when they want to flip the switch on their own chair.
Don't look at this hand...look at apple....I said don't look at this hand!
But, you are putting that hand down our pants.
TSA
Italian Bank Holiday = 30 days.
http://investmentwatchblog.com/report-italian-bank-declares-holiday/#.T9...
Can I have my money? No!
But but but it's my money. No!
Can I riot? No! Shut up and go home. And don't forget to beg for food on the way there.
How long will it be until we see this in the United Teets?
I stocked up on Spiderman towels. Starting bid $300,000...
CRB Index has been utterly destroyed, making guys like Chris Martenson and Peter Schiff look like a fools.
A freefall collapse is not healthy, doesn't surprise me to see TPTB try to arrest the speed of the decline a little bit.
Oh so we're in a decline?
And not just any decline: one speedy enough so as to require immediate action to arrest it.
Ouch! Toe Jamb Fader may need another hit of hopium after that punch in the snoot.
I'll quickly put together a portfolio of private sector debt for them, anyone want to offload some debt?
Umm, yeah that is not how it works.. You are absolutely small enough to fail, unfortunately, me too..
Posens wants the BOE to buy private securities and not gilts (bonds). King is opposed. Posen speaks for the "Benanke-leftist dovishhhhhhhhhhh printers over there).
"Fix me up some quid ol'boy"
Bollix to that!
Is this a rumor or is it for real? What assets?
Ooooh total confiscation. It begins.
You will sell you assets to us and you will accept the terms. That alwayyyys ends well.
Jebus frickin christ. The real situation must be light years beyond even the worst any of us can think of.
"I have cancer?"
"Yes, a tumor that has spread to all your internal organs. But you also contracted flesh eating disease, we found a blood vessel in your brain about to burst, somehow you have every VD known to man, and your coronary artery is 99% blocked. But don't worry, we've got this."
It's more like the pain and weakness of all those diseases, except you're somehow immortalish... kind of like a whiskey drinking, bacon eating old man that's too mean to die.
Or an Irish junkie vampire...
http://24.media.tumblr.com/tumblr_m5f1c5dJgj1r4z7iso1_500.jpg
I'm pretty sure there are plenty of people holding "distressed" assets they'd love to offload.
Single load cases of tide for the prudent investor.
reminds me of the scene in the Grapes of Wrath when the guy pulls up to their house and says the bank is foreclosing and now owns the farm.
title to my property tells of a mortgage of $2900 in 1919 and foreclosure in 1931, bought at action for $1000 .. by a bank and not sold until 1943.
reminds me now of what Jefferson warneda about banks ..leaving our children homeless.
That's a cool story. Great to hear that you have actually seen your title and presumably it still resides at your local land registry office.
Jesus... the title has always resided at the local land office (because it's based upon a recorded DEED). There is no question as to who owns the property... The question is whether there are any clouds on the title, especially unrecorded ones and/or with practically unidentifiable parties.
Not to worry: the UK doesn't produce any real things anymore, it's all a circular Services Economy.
All those freshly minted new pounds (or, should I say, 0s and 1s) will be used by the bankers (who, around here, always get their hands on new money first) to buy the real assets of those foreigners who are dumb enough to fall for it.
Nothing to see here, move along!
Kind of concerned that the market and gold haven't spiked on this. Hmmm.
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson
lunatics ...
Must reflate housing....must....reflate...must....<gasp>...<thump>
In the end, the CB's will win. They always do. I hate that!
Physical assets will win. Only question is who is holding them when the music stops. Are you?
i have some towels...
Do I have to deposit zooro to get one?
Buy. Real. Assets. NOW! DAMMIT!!!!
Fixed it for you.
Buy land, learn to plant your own food and defend yourself, and hope for the best.
Find some empty land, learn to plant your own food and defend yourself, and hope for the best.
Are they going to be buying mid-80s baseball card sets? That would lift some boats and help me out.
I'm sure some of the Japanese USD reserves will head your way.
Lead headline on Yahoo:
Are Bank Stocks ‘Ridiculously Cheap’?What a joke. maybe the BOE can buy them too.
That's precisely what Posen meant, I'm afraid.
Ok so central bank owns private assets and renders them completely useless. Total destruction is coming. Be very very afraid.
"Central banks should buy assets other than government bonds, says Bank of England's Adam Posen"
http://www.telegraph.co.uk/finance/economics/9324565/Central-banks-shoul...
I hope I have their plan correct.
So we can assume Posen is talking about private entities selling their worst assets to the CBs, hence relieving them of that toxic waste and replacing it with fresh and fully leverage-able fiat. This toxic stuff is not or cannot be leveraged to the advantage of the bank and it makes the bank's impossible-to-understand capital ratios much, much better.
Since the banks can then leverage this new found "capital" at 10:1 or greater, the economy will flourish! Who could be against this? More money flowing around in the system to be invested in job and wealth creating enterprises! Or maybe just to drive up ES futures or oil so the Wall Street gamblers can make a bundle.
Stealth printing ... but not really so stealthy.
sschu
Hyperinflation my ass.
This is Great Deleveraging.
Ahhh, so people should give up their gold, real estate, income generating business, stocks and bonds for "toilet paper"... err I mean an electronic representation of toilet paper? Don't the banks already own something like 58% of all assets?
So, in the end, the banks will have traded trash for assets, own everying and everyone will be there slaves? Do I have that right?
The end game is Wooden Nickels, Bitchez!
I'm shocked, just totally shocked, I tell you that just as the Spain bailout kool aid fades a central banker starts whining and bitching about using more intervention. Just shocked!!! Ha, this shit is too funny at times. Can it be any more obvious that they are in full blown panic mode?
does he mean "will help banks" or are the banks the economy in cen banker parlance ?
Top Customer: Under Obama, Fed’s Holdings of U.S. Debt Have Jumped 452%
http://cnsnews.com/news/article/top-customer-under-obama-fed-s-holdings-us-debt-have-jumped-452
Romer Puts the Pressure on Bernanke to Inflate
http://www.economicpolicyjournal.com/2012/06/romer-puts-pressure-on-bernanke-to.html
Then oil would become a deflationary factor again..
Talk about catch 22!
Every Banker wakes up today, looks out window /sips coffee .... walks over to phone calls every other banker they know... John yea remember that talk? yea good... um yea im thinking now is a good time to buy everything we can.
Try stealing real assets via fiat, and the people will be left holding herman.
they will make anybody with a job or who still produce income pay for all this shit.
Taxes Insurance bank fees hyperinflation all of it is coming. They want to
destroy everybody completely. Jonestown scumbag communism gone global.
beginners guide to prepping for economic collapse
30 bartering items you can afford
Central banks should buy private assets to prop up economies eh?
Which private assets? At what price? From whom?
This is not going to fly with the majority of people who right now have negative net worth, meaning they have NO assets to sell. The upper strata that DO have assets to sell may well be aided by this idea, but when the majority that are shut out of both credit and selling assets to support themselves there will be hell on earth, they will tear the system apart limb by limb and board by fucking board.
And when bankster have all the money AND all the assets will it still be my fault I am too poor to be a good consumer? Strike that, they already do have most of the money and assets and guess what, it is my fault I am a deadbeat with ad credit and no house, all I had to do was play their game but I am too stupid, or stubborn, to go along with my own enslavement.
Central banks buying assets? Why when they can just seize them like they did my house? Buying assets by central banks is just more welfare for the rich. So of course it is a done deal. Prop up stock prices so the investor class has no risk in their portfolio. Buy up all the foreclosed houses that used to be our homes and rent them back to us with onerous deposits that they will later screw us out of, at rents that absorb 50% of your take home pay. My landlord is a prick out to make a dime any possible way and has no ethics one can detect, but at least I know his name and where he lives, I do not like him but I deal with him face to face and he in turn deals with me as a human being even though he want to screw me for all I have. Make bankers our landlords and you will have layers of bureaucracy and a nameless faceless legal fiction as your landlord, you think NSF fees for a small unintentional mistake are bad? Wait till you need those fuckers to fix your water heater.
We already hyperinflated. Cue return to mean via deflation is housing, etc etc. Quick check, gasoline is cheaper than 6 months ago, McDoubles are still $1.00, Car prices might be up, but interest rates are low low low. And houses? houses?? muahahahahahhahaaa
Gas =$4.299 here, it is as high as it has ever been. McD's went up 15% on their menus here on the first. Interest rates might be low but nobody I know has the credit score to buy a new car at any price and even those with good jobs now do not trust they will have good jobs at the end of the year. Hamburger= $5.59 lb, Papa Murphy's take and bake pizza up 12% in May, Powerball ticket up 100% this spring. the connections between incomes and prices are so damaged neither make a lot of sense now and it is going to get much worse in coming weeks and months.
Bernanke should buy Detroit and level it. Then print money to hire workers to build a new 21st century city where the banksters can live protected from the average scum... I bet the Obamabots would like that.
China is buying up Michigan and plans to build a gigantic Chinatown there. Seriously.
Wait till they find out what a bitch Laquisha can be.
What I find hilarious, is you have complete imbeclies like Karl Denninger who said that this would never ever happen and if you had brought this idea up in any form of `debate' with that clown, he'd ban you from his forum. What a clown.
This shit is so funny. They spent 40 years robbing the public and exporting jobs in the west. Now they cannot figure out why no one has any money but the banks who get it for free. Their solution? Have the banks print up more money and buy stuff with it.
Here is the real solution. No taxes on the first 50K you make. No takes on the first 500k you make being self employed. Cut government spending. Go back to real money instead of confetti. Tell the banks they cannot be in the markets on their own behalf for any reason, ever, no exceptions, and may only execute client orders. Remind them their job is making loans. Throw Corzine and Dimon in jail for starters.
Q, I would like to subscribe to your newsletter.
At least printing money to buy assets makes a change from just confiscating assets outright.
At least this way we have some warning that we are being fleeced.
It has been said that each economic collapse is slightly different
Has anyone found bernanks brain yet?
Back door socialism. We all bitch about the central banks. One might consider that the banks are tools of the elite in government to force a socialistic state.
1) Private sector is purposely damaged by political policies
2) Private sector is heavily encouraged to take on loans it cannot repay
3) Central banks take on private sector collateral
4) Eventually central bankers take over said private sector
5) Government oversees such industries
BTW - one could substitute sovereign nation in place of private sector.
In the event of a German financial Anschluss, I'd like to put an open request to WillaimBanzaii for some artwork containing a gate with the following phrase above it, "Arbeit Macht Schuldenfrei".