Daily US Opening News And Market Re-Cap: September 23

Tyler Durden's picture

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CapitalistRock's picture

Ben is gonna pull a Switzerland if this keeps up.

oobrien's picture

Run to the hills, bitches!

The deflationary depression is upon us.

Gold is dead.

Don't stone me.  I'm just telling you the truth.


janus's picture



there ya go!


half a mile from the county fair/

and the rain came pourin down/

me and bully standin there/

with a silver half a pound/

we just stood there gettin wet/

with our backs against the fence/

...and the rain let up and the sun came out/

and we were gettin dry,


trav7777's picture

dead?  Not yet.  In any event, the world's largest debtors are the sovereigns.

We've hit the point where they can't kick that can to a bigger debtor.  We made the banks here whole in 2008 and it still has made no difference.

There IS NO credit creation to sustain the exponential growth animal that is debtmoney.  Without continuous printing, the system will collapse.  In such an event, precedent suggests FRNs won't retain value.

Smiddywesson's picture
  • Handelsblatt quoted a German economic professor saying that Germany has EUR 5trl of hidden debt, while Deutsche Bank said co.’s write downs on Greek bonds could be higher than the 21% level foreseen in a July agreement
  • OOBrien,

    Yes, the price of paper gold is dropping too.  Read the excerpt quoted above.  If Germany is also screwed, what does that say about the lifespan of this economic system?  Yes, you can make more money trading in and out of stocks and currencies than sitting in gold, but if your timing is off when you run for the lifeboats, you go down with the ship.

    Your argument assumes they won't destroy the currency, and that the global economic system can be saved, so we don't have to take precautions today that compromise immediate return. 

    I gave you a green, because you are half right.  You will remain correct, until you aren't. 

    Zedge Hero's picture

    The biggest under reported headline of the week is the protest on Wall Street.  Sometimes things this subtle can grow in to some major demonstrations- ask Egypt, Greece, Spain or even Israel right now.

    Video on this weeks New York protest- Occupy Wall Street



    GeneMarchbanks's picture

    'Asian Headlines:

    Japanese market holiday.'


    The Japanese are always on holiday. Lame.

    1835jackson's picture

    News just in....were fucked. Baby boomers want to kick off their shoes not deal with this shit they will sell

    Smiddywesson's picture

    Have to green that comment.  Baby boomers are not sitting on a pile of cash.  They will have to liquidate their stock anyway.  It's going to happen.

    PaperWillBurn's picture

    It's a Dow 10,000 kind of day

    Sledge's picture

    Look for a classic Barton Biggs interview late in the trading day.  :-)

    HelluvaEngineer's picture

    8:25 EST - OK, so what rumor just got leaked?

    sudzee's picture

    Will the corner store let me buy a loaf of bread with my million dollar treasury note. All this talk of "being in cash" don't mean shit when there is only 300billion in physical notes to cover quadrillions in obligations. The rarest thing on earth right now is physical US dollars.

    trav7777's picture

    nah...they have a pallets of those at the ready and can print them day and night.

    Nevermind that the entire debit/credit card processing system stands ready to move eDollars around ad infinitum.

    LongSoupLine's picture

    FU Blythe you f'ing whore!

    trav7777's picture

    another guy who got suckered by silverbug pumper bullshit and is losing his ass?

    reload's picture

    to boost global economic recovery

    They should be honest and say "to try and slow down the economic train wreck, and save our own hides"

    What recovery is it they keep talking about? where exactly is it being experienced?


    Comay Mierda's picture

    on a comical side note - fox news debate poll that showed Ron Paul winning just disappeared down the memory hole



    fucking MSM presstitute sons of cocksucking crack cocain whore bitches

    Georgesblog's picture

    I'm just grateful that I have coffee, this morning. I have a chance to make an intelligent comment, sometime today. You can't tell me that the cure for poisoning is more poison. Debt is a most insidious poison. It is an extreme stimulant. It overdrives the senses and compromises sound judgment. I'd like to find a solution. The obvious answer is to retrace our historical steps and send this centralized corporate structure into the Pit. I say that in a commercial contract context. We get what we agree with. The hard way is the good way. We must cease from these contractual agreements that enslave us. There, I feel better, now. Thank you for enduring my rant.