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Chuckie Evans Goes Full QEtard: Tells Hilsenrath Fed Needs To Do "Much More" Easing

Tyler Durden's picture


Confirming that the Fed's doves, every single one of them, are genocidal sociopaths, we have a repeat appearance from Chicago's Chuckie Evans, who first sent stocks barreling in the latest algo driven, no volume meltup, earlier, this time dodecatupling down, by telling Fed lackey Jon Hilsenrath that "we need to do much more to increase the level of accomodation"... much more as in the ~$2.5 trillion of debt that needs to be monetized in the period before Obama's desperate reelection campaign. And by "we", he means the group of 12+1 madmen bundled up in a room in the Marriner Eccles building with or without padded walls, who unlike a simple unfunded blog, believed that Q4 GDP in the US would be about 4% instead of the negative print it is about to be in a few short months. Yes sure: lets give the sociopaths-cum-Econ Ph.D's another run at destroying the world: just because the Arab Spring was not enough to demonstrate just how efficient the Fed is at toppling regimes, this time around they will make sure that the revolutionary wave sweeps across Asia, through Europe, and ends on the banks of the Potomac. Of course, if in the process it also brings with it the much desired hyperinflation that will make the US banking sector whole, who cares if a few million people die - at least Wall Street, which has long since converted its fiat wealth into gold and other real money, will be spared, go on a 5 year vacation to non-extradition Libya, then come back when the shotguns have rusted, and the pitchforks have been dulled, and pick up where they left off. Because as we all know, nobody is more "intuitive" than an Econ. Ph.D, and nobody can create greater financial innovation, aka the primary export of the US, than someone from New York's Financial District.

More from the Fed's mouthpiece:

Mr. Evans, who stirred markets with similar comments earlier in the day on CNBC, said he felt the Fed needed to make an even stronger commitment to keep interest rates low. He worries the public has tended to be too quick to assume the Fed will raise interest rates whenever the economy perks up a little and says that view is undermining the recovery.


"I would want to nail down expectations about accommodation," he said. "By itself that would be very helpful."


Mr. Evans doesn't think the Fed should raise interest rates until the unemployment rate gets to 7% or 7.5%, or unless inflation threatens to move up to 3% in the medium-run. The Fed has a 2% long- run goal for inflation, but just as it undershot that by roughly a percentage point during the recession, he thinks it is OK to temporarily overshoot it, too.

A little hyperinflation never hurt anyone...

"Running a little bit above 2% is far from a catastrophe," he said, adding that the 2% goal is what inflation should average over time and it shouldn't be seen as an absolute ceiling.


Without stronger commitments to keep money easy or other efforts by the Fed to boost growth, there is a "tangible risk" the economy won't be any stronger two years from now than it is today, "and I think that would be a huge problem," he said.

Perhaps it is time to rename "doves" to "rabid middle class vultures"

Mr. Evans is part of a contingent of Fed doves -- officials who tend to be less worried about inflation and favor more action to boost growth and reduce unemployment. The hawks who worry about inflation and oppose more action tend to get a lot of attention because of their recent dissents from Fed decisions. Minutes of an August meeting by officials, released Tuesday, showed that the doves have been very vocal internally.


"A few members felt that recent economic developments justified a more substantial move at this meeting, but they were willing to accept (the measures taken) as a step in the direction of additional accommodation," the minutes said.


Mr. Evans declined in the interview to say whether he would support additional securities purchases by the Fed, also known as quantitative easing.

Of course he won't "support" it - he will demand it.

Next up: formal targets:

The idea of setting formal targets for the economy is an area that is getting more attention inside the central bank. Such a move, some argued in August, "would establish greater clarity regarding the (Fed's) intentions and its likely reaction to future economic developments," the minutes said.

Among the targets in question: gold in popular circulation in ounces: zero; middle east country to be nuked to prove Keynes was right after all: Iran; middle class expendable: 50-100 million (carry the 0); weapons to be confiscated: all; start-end curfew hours: 8pm - 6am, and so forth.

And since gold is about to be 6102'ed very soon, we urge readers to make a map of where they bury theirs, memorize it, and then swallow it (the map, not the inedible gold).


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Tue, 08/30/2011 - 21:13 | 1617325 Mike2756
Mike2756's picture

Could someone tell these guys we're a net importer?

Tue, 08/30/2011 - 21:17 | 1617334 WestVillageIdiot
WestVillageIdiot's picture

Could someone give these motherfuckers a real job for a year and then let them run those fucking mouths of theirs?  These assholes need a basket of humility for Christmas, or Hanukkah. 

Tue, 08/30/2011 - 21:31 | 1617401 IBelieveInMagic
IBelieveInMagic's picture

Tyler, you keep harping about Arab spring revolution as if this were true voluntary uprisings -- for example, it is hard to believe Libya was an internal revolution at all, just saying...

Tue, 08/30/2011 - 21:33 | 1617409 Ese Pinche
Ese Pinche's picture


Tue, 08/30/2011 - 21:57 | 1617485 spiral_eyes
spiral_eyes's picture

If we're in a fucking liquidity trap the Fed could kill it in (Bernanke's words) less than 15 minutes by NOT PAYING INTEREST ON EXCESS RESERVES. No QE necessary. Dumbasses. But no — they just wanna print more, and then pay interest on it. It's robbery. Total robbery. Not just debasement, but interest on debasement. 

Tue, 08/30/2011 - 22:34 | 1617624 disabledvet
disabledvet's picture

with BofA near death "of natural causes" i'm not so sure about this. that's trillions in obliglations going "kaplooey." and with "the legal class" apparently baldly telling all Americans to not pay their mortgages you really have to wonder about the solvency of the attendant states know "need that revenue thingy."

Tue, 08/30/2011 - 23:26 | 1617809 TruthInSunshine
TruthInSunshine's picture



QE3 is DOA, bitchez. Fade Goldman. They're fading their own (free) advice and prognostications.


  • Fed Divisions Led to a Compromise on Interest Rates New York Times By Published: August 30, 2011


Staff members slightly raised their forecasts for inflation for the rest of this year, indicating that the central bank might be especially unlikely to engage in another round of major asset purchases. These purchases generally raise prices, and the Fed has previously engaged in such quantitative easing in part because policy makers worried that prices might otherwise start falling.

Tue, 08/30/2011 - 23:38 | 1617851 traderjoe
traderjoe's picture

Reading these Fed posts oftentimes makes me sad. All of you people genuinely debating Fed actions are completely missing the boat:


Read that again. The Fed isn't there to actually help the economy. The Fed was specifically created by the mega-bankers to rob the people of their money - in part by creating inflation and in part by supporting the fractional reserve banking system. They are performing exactly to plan.

Wake the fuck up people.

Tue, 08/30/2011 - 23:40 | 1617861 trampstamp
trampstamp's picture

Like Marc Faber said, we'll know soon if Bernanke is an amateur or a true money printer

Wed, 08/31/2011 - 01:47 | 1618071 Raymond_K_Hessel
Raymond_K_Hessel's picture

Spiral_eyes, I was thinking the same thing until I read the article on ZH this morning from GS saying that the actual IOER is only 8 to 9 basis points. Now I question whether the banks will lend with a negative IOER. How can they lend with the lack of qualified and willing borrowers? Even if they lowered requirements, who wants to borrow to start a business or make investments in growing their existing operation? You're right though, if the money makes it out, it'll multiply ten-fold. Hello hyperinflation.

Wed, 08/31/2011 - 02:04 | 1618087 spiral_eyes
spiral_eyes's picture

Well it can only multiply up to the reserve requirement — and as I explain here, hyperinflation is really a non-monetary phenomenon caused by the severe degradation or stagnation in productivity, energy supply, food supply, etc (think the deindustrialisation of the Ruhr or Mugabe's destruction of farm land). Now that's not to say America isn't threatened by these things — think oil shocks, China starting a full trade war, etc — just that the hyperinflationary money printing tends to start after the supply shock.

I think we need to look deeper and harder at the phenomenon of biflation. The pressures are very assymetric — crushing inflation in food and fuel and other necessities (global-infrastructural phenomenon), and deflation in everything else. I am coming to believe that the overall trend is deflationary — let's assume gold is money, and look at the DJIA:AU ratio since 2001 — massive deflation, hidden underneath all the wads of QE funny money Benny has printed. Fiat currency, more than anything else, is good at fudging economics.

What this means is that PD's and non-PD's holding cash (whose food and fuel expenditures are lower as a percentage than say a Mom and Pop shop) still experience net-positive real rates above and beyond the IOER rate. Now, the weight of the debt and systemic problems is probably ultimately going to cause some kind of Great Crash, but up 'til then we can cushion the blow — massively slashing military spending and redirecting it at food, fuel, transport and commodities infrastructure. Those excess reserves could also be used for some kind of debt forgiveness program.... total debt is 360% of GDP...

Wed, 08/31/2011 - 04:25 | 1618166 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Great post...however, the idea of debt forgiveness doesn't sit right with me. My sence of justice tells me those folk who took out mortgages, student loans, maxed out their credit cards should pay back every penny...while those who worked hard, lived bellow their means, and put everything in gold and silver should buy up everything for pennies on the dollar

Wed, 08/31/2011 - 04:45 | 1618173 spiral_eyes
spiral_eyes's picture

It doesn't sit right with me either, and it's very unfair on the face of things. But it would be a mirror of what Wall Street got.

I own physical gold and silver. Even with a debt forgiveness program, the values of those metals will rise. Perhaps there won't be a blow out peak where we can buy a house for 20 ounces of silver, but if eliminating or lessening the crushing burden of debt is viable, then I am willing to give up that blow out peak to get America working again.

Wed, 08/31/2011 - 08:45 | 1618398 Medea
Medea's picture

Gee, I wonder which of these two types of people you think yourself to be. And I'm sure that has nothing to do with your "sence of justice."

Wed, 08/31/2011 - 06:27 | 1618209 spankfish
spankfish's picture

Reminds me of asymmetric warfare.

Tue, 08/30/2011 - 21:58 | 1617487's picture

The rebels are Al Qaeda who were previously in US custody then released to Libya and then trained by NATO forces to oust Qaddafi.


Libyan rebel commander admits his fighters have al-Qaeda links


In an interview with the Italian newspaper Il Sole 24 Ore, Mr al-Hasidi admitted that he had recruited "around 25" men from the Derna area in eastern Libya to fight against coalition troops in Iraq. Some of them, he said, are "today are on the front lines in Adjabiya".


Mr al-Hasidi insisted his fighters "are patriots and good Muslims, not terrorists," but added that the "members of al-Qaeda are also good Muslims and are fighting against the invader".


His revelations came even as Idriss Deby Itno, Chad's president, said al-Qaeda had managed to pillage military arsenals in the Libyan rebel zone and acquired arms, "including surface-to-air missiles, which were then smuggled into their sanctuaries".


Mr al-Hasidi admitted he had earlier fought against "the foreign invasion" in Afghanistan, before being "captured in 2002 in Peshwar, in Pakistan". He was later handed over to the US, and then held in Libya before being released in 2008.

US and British government sources said Mr al-Hasidi was a member of the Libyan Islamic Fighting Group, or LIFG, which killed dozens of Libyan troops in guerrilla attacks around Derna and Benghazi in 1995 and 1996.


Something very fishy about all this.


Tue, 08/30/2011 - 22:23 | 1617590 Bring the Gold
Bring the Gold's picture

No there hasn't been ANYTHING fishy that's happened in the past 10 years with US foreign or domestic policy and/or happenings. Someday people will look at the time period from Glass-Stegall getting repealed until whenever the pooh truly does hit the fan globally and it will all make alot of sense because they will be free from the current regime's omnipresent propaganda. At least one can hope.

That or the great Cockroach archaeologists 2,000,000 years from now will be really blown away at how stupid the common humans of this period were. "Wow they actually bought that shit? No wonder those stupid fuckers went extinct, they let completely psychotic people make decisions that effected the whole species and couldn't see past the BS, good freaking riddance."

Tue, 08/30/2011 - 22:51 | 1617668 Spirit Of Truth
Spirit Of Truth's picture

If you think world history is being significantly manipulated by "U.S. intelligence" (an oxymoron), you are suffering from wishful thinking IMHO.  The West is way behind the curve shaped by the East.

What you really need to ask yourself is, why did LEBANON table the U.N. resolution authorizing NATO military action against the Gaddafi regime?  After all, under Najib Mikati, Lebanon is just a proxy state of Syria and Iran, two states that seemingly had little incentive in opening the way for Western military action to overthrow a dictatorial Middle Eastern regime.

Hey....but who cares about the truth anymore anyways.  Everyone is above reality nowadays.

Hence: DJ Composite Hits 4K

Tue, 08/30/2011 - 22:59 | 1617723 disabledvet
disabledvet's picture

Actually if you're feeling under the thumb of a tin pot dictator type having the US overthrow one for you sounds like pure brilliance to me. Maybe they'll get luck and get a Syrian "two-fer."

Tue, 08/30/2011 - 23:05 | 1617748 candyman
candyman's picture

I'm so fuckin8 tired of the regulators changing the goalposts i'm going ballistic. How the fuc* can I make and investment  decision.; An investor playsplays the rules but gets fucke* on every turn. I'm so fed up I'm getting ourt the  AW G22 Arctic 7.62mm

Wed, 08/31/2011 - 01:05 | 1618013 dalkrin
dalkrin's picture

Calm down buddy, you are free to withdraw all monies from the rigged markets at your convenience.  Since fiat notes should be handled with considerable skepticism, go make a local coin shop owner happy and secure your wealth in physical precious metals.

Wed, 08/31/2011 - 01:13 | 1618032 wandstrasse
wandstrasse's picture

cockroach archeologists.. lol! i am sure they will identify todays banking elite as their predecessors by genetic tests.

Tue, 08/30/2011 - 22:27 | 1617604 Pants McPants
Pants McPants's picture

Fishy, yes.  Surprising, no.  Amazing how the script repeats aint it?

The best enemies money can buy.

Tue, 08/30/2011 - 22:55 | 1617697's picture

While today NATO trains and supports admitted Al Qaeda rebels in Libya, it was only 8 years ago that the US used sanctions to force Qaddafi to hand over intelligence on Al Queda.

What the hell is going on?


Libya gives more on al-Qaeda    

December 21, 2003 - 5:34PM

Libya provided intelligence on hundreds of al-Qaeda and other Islamic militants, as well as renouncing attempts to develop weapons of mass destruction, in a bid to end its pariah nation status, a British newspaper reported.

Libyan leader Muammar Gaddafi's moves came as part of a deal to have crippling United States sanctions against his country lifted, said the Observer.

Tue, 08/30/2011 - 22:56 | 1617704 snowball777
snowball777's picture

If by "fish", you mean CIA.

Tue, 08/30/2011 - 21:38 | 1617425 Bring the Gold
Bring the Gold's picture

You mean Mammon day right or perhaps if you are generous Moloch day?

As to baskets of humility, they DO like to throw baskets of humble children to roast over the fire as part of the festivities so that's about as close as you're gonna get.

Wed, 08/31/2011 - 06:06 | 1618198 cossack55
cossack55's picture

Funny, I was thinking about baskets for these swine myself, only the kind one finds at the base os a chopping block.

Tue, 08/30/2011 - 21:32 | 1617404 Id fight Gandhi
Id fight Gandhi's picture

I don't like how they calc inflation. Its never realistic. They think iPads matter.

Tue, 08/30/2011 - 22:16 | 1617566 Mugatu
Mugatu's picture

At least one item has fallen in value - Pot prices!  According to CNN:

As further evidence of the drug war's failure to limit drug supply, U.S. government data clearly demonstrate that even as federal funding for anti-drug efforts has increased by more than an inflation-adjusted 600% from 1981 to 2002, marijuana's potency increased by 145% and its price has declined 58% from 1990 to 2007.


So at least we have that going for us!  Potency is up 145% and prices are down 58%.  Sounds like the drug lords are better at economic planning than the Fed.

Tue, 08/30/2011 - 22:36 | 1617635 disabledvet
disabledvet's picture


Tue, 08/30/2011 - 22:39 | 1617651 DonutBoy
DonutBoy's picture

It's simpler really, it's not the genius of the drug lords - it's the magic of the free market.  Since the drug trade is illegal - it's not regulated.  Thus it is truly capitalist.  No one tells them what to plant, what to ship, and the market provides what people want at decreasing real cost.  You would think we'd try that approach on some of the things we'd like our country to have.

Tue, 08/30/2011 - 23:02 | 1617734 disabledvet
disabledvet's picture

Oh, sorry, I meant to say HOORAYYYY FOR THE FREE MARKET! Next stop...THE KUDLOW REPORT!

Wed, 08/31/2011 - 08:02 | 1618315 swissbene
swissbene's picture

drug prohibition is quite separate from 'non regulation'.  rather it is hyper-regulation -- with guns, jails, and so forth.

US are moving toward sanity re mj: less criminalization != non regulation nor free market.

it is great to see high quality ganja coming down in price.

also: the core argument that free market capitalism is to credit for ganja quality & price gains implies that ganja is indeed a good that 'we' (US) would 'like country to have'.  unless there is some 'we' that supersedes the marketplace?

as for extending mj dynamic to other goods, do you suggest criminalizing such goods? or do you suggest that other trade be decriminalized?  the former clashes with free market principles espoused (and would fail to achieve desired price/quality gains).  the latter seems right on -- decriminalization is generally good where innocuous goods like mj are concerned.

summary: movement away from criminalization (ie hyper regulation) should not be confused with unfettered capitalism.

Tue, 08/30/2011 - 21:51 | 1617466 Bay Area Guy
Bay Area Guy's picture

Exactly Mike.  All that further debasement of the dollar (which is what QE3 will provide) will do is to jack up the cost of our imports, including food and that pesky little thing called oil.  People that have no clue as to what's going on will blame big oil and big ag, saying they're gouging the little guy again, and the politician will pontificate about the evils of business again. 

Plain fact.....It will make our exports only marginally more attractive.  There's no way the US is going to be able to compete on price with products made in China, Vietnam or other manufacturing counties any time soon.  We're a service and consumption economy and the sooner that these bozos understand that, the sooner they may develop policies that have a chance in hell of working.

But to go after those rational policies would require the Fed and the political world in general to admit that the manufacturing jobs that made this country what it used to be are gone and they aren't coming back in any meaningful way, at least not at wages similar to what blue collar workers used to get.  And to admit that would be death to a politician's hope of courting big labor, so it'll never happen.

Tue, 08/30/2011 - 22:02 | 1617509 Rynak
Rynak's picture

That's really only half of the story. Sure, if you cannot produce (in reasonable amounts relative to your imports and local needs), you're going to be a dependent.

However, this does not automatically mean, that production and export is a reasonable MAXIME.

See, i'm coming from germany, aka china-lite. A country that managed to go from a (trade-wise) someway balanced approach, to an all-out export economy, in just 10 years. Are germans happy about the consequences? Well, let me rephrase that: Do you think chinese (except of the top 5%) are happy about the consequences of their export-biased economy? After all, the lower-class (and middle class) workforce, has to take the burden of how to produce at wages, that are impossible to sustain regarding buying power, unless said goods are exported, since the local population produces so cheap, that it cannot afford it's own products anymore. Do you think they're happy about that?

Well, neither are most germans (though, they still until today have problems figuring out just what turned their "excessive" life into a that of a population that counts every cent they spend. So, they notice the effects, but are too stupid to understand the causes).

What i'm trying to get at: Import and export represent a local imbalance. After all, if you don't have overproduction, there is nothing to export, and if you don't have local shortages, you have no reason to import (i'm oversimplifying here). Sure, some importing and some exporting will almost always be needed, simply because nations (if only because of geography and ressources) are rarely totally selfsustainable - but this is NOT a reasonable argument, for MAXIMIZING existing imbalances. A population for "some reason" is not better off, by it's local economy being more out of balance.

Wed, 08/31/2011 - 09:47 | 1618588 swissbene
swissbene's picture

it seems a stretch to link trade surplus (export economy) with low wages and economic hardship as a matter of fact.  unable to consume own products?

i trust your first hand experience in Germany -- but to outsiders there appears to be a high income level & relatively fair distribution of income at aggregate level [stats from].

a counter example is Switzerland - another export economy but without any appearance of the troubles you highlight.

Wed, 08/31/2011 - 09:26 | 1618539 swissbene
swissbene's picture

US is a net exporter of food.  []

oil is pesky indeed but of course consumption is largely voluntary.  several advanced nations [Switzerland, Germany, UK] use ~1/2 or less per capita vs US so there is plenty of opportunity to use demand lever.  the scapegoats you predict sound about right and of course must exclude individual responsibility for consumption b/c voters just plain dislike it.  []

why exports only marginally more attractive?

what products (and what support) are tied to claim that US is unable to compete in manufacturing?  price is not the only dimension.  US manufacturing & exports have grown ~3x in the last 20 years [].

services are also exports.  hyper consumption is part of the problem not an intrinsic that needs requires (more) accommodation.

i blame the fed for many things but hard to pin the loss of manufacturing jobs there in my view.

Tue, 08/30/2011 - 21:14 | 1617327 mfoste1
mfoste1's picture

bring em to the gallows.......

Tue, 08/30/2011 - 21:18 | 1617336 WestVillageIdiot
WestVillageIdiot's picture

And if they can't find transportation bring the gallows to them. 

Wed, 08/31/2011 - 03:29 | 1618138 Sudden Debt
Sudden Debt's picture




Mon, 09/05/2011 - 23:57 | 1617497 gangland
gangland's picture

lulz on the qetard

Tue, 08/30/2011 - 21:17 | 1617332 lynnybee
lynnybee's picture

are these people crazy ? !    are they crazy !!   .........we're going to be destroyed.   i'm watching what little i've got dwindling !    thank god i've been reading & doing research the past couple of years & have purchased some precious metals / i don't have a lot, but at least i have something .     thank goodness for ZEROHEDGE education.     I actually went to my coin guy today (my newest bestest friend in the whole world ! )  & when i left his shoppe with my purchase of silver i felt much better & safer.

Tue, 08/30/2011 - 21:21 | 1617351 WestVillageIdiot
WestVillageIdiot's picture

I had a friend about 10 years ago that would go to Best Buy every Tuesday.  He would buy the latest DVD, even if he didn't care what it was.  He would buy all of the latest electronics, whether he needed them or not.  He would purchase "things", hoping that somehow they would make him happy. 

The best times I have are the simplest.  I like music, reading (ZeroHedge and history), eating decent food, playing an instrument and just spending simple times with friends.  I don't need to go to Best Buy every Tuesday.  That old friend can never be wealthy because no amount of money can make up for the big hole that runs the length and width of him. 

Tue, 08/30/2011 - 21:33 | 1617367 whstlblwr
whstlblwr's picture

Come on lynnybee, and all Zero Hedge. Get to work. Time to spread word.

Just had debate on social media with someone who says gas price result of free market. Let people know what you know that Federal Reserve policies creating inflation.

Tue, 08/30/2011 - 21:54 | 1617475 A Lunatic
A Lunatic's picture

There is no inflation. If we experience any inflation in the future it will be of the harmless, transitory variety.

Wed, 08/31/2011 - 06:11 | 1618202 fishface
fishface's picture

you are a lunatic.

Tue, 08/30/2011 - 22:34 | 1617626 rocker
rocker's picture

@whstlblwr   I hate to break the news to you.  But less than 1% of all Americans know or understand what the FED is doing.

My next door neighbor who are very well to be, they have at least a million+ in property, apartments and assets.

They do not even know  who Ben Bernanke is and care less.

They do not know what QE1, QE2 or Quantitive Easing is or means.  UnFuckingBelievable.

So, I asked them, don't you have investments in the markets?

Reply:  No, we don't have any investments in the markets except for what he gets through work.

So, I asked why not. They said because it is a Ponzi Scam. We like real estate rentals better. Explains why they like their rentals on the shore.  

You must realize:

 Rupert Murdoch and the likes with FOX, CNBC and CNN tell people how to think by orders of the Mind Control Police.

99% of the people have NO Clue.  Enough Said.  It is Sad, but True.    

Thank You Zero Hedge for being here.  The rest of us poor bastards need you.

Those of us who thought the markets might be a good place to invest.  Geeezzzz.  What some of us learn the hard way. 

 (Poor: not having 1 million dollar bonuses or more every year like Lord Blankfein)

Tue, 08/30/2011 - 22:47 | 1617670 lynnybee
lynnybee's picture

Get to work. Time to spread word.     most on ZEROHEDGE know my story.    i have spread the word, but, alas, my family & friends don't believe a word i say.    i've been laughed at, ridiculed, made fun of; i've been told to "get off that internet" by my own family & when i asked my adult son if he would help me stockpile bottled water & foodstuffs (lifting heavy items out of the car) he told me "no" .    my own son told me that he's not "buying into this insanity" .     NO ONE BELIEVES ME ....... I have begged my friends & family to stockpile, to swap out worthless pieces of paper for real silver ; no one does it & they think i'm nuts.       when the currency collapses, they'll all be knocking on my door & i can barely save myself let alone a family of 6 adults.    

Tue, 08/30/2011 - 23:04 | 1617743 Rynak
Rynak's picture

If you're dealing with hardliners, and you - for whatever reasons - do not consider "giving up on them" an acceptable option, then try subtle infiltration. That is: Don't try to "convert" them.... actually, don't even try to convince them... just "seed" subtle infobits into discussions they start, without any intention of "winning" the discussion.

I.e., if they talk about something, just mention small infobits (data), without making the judgement and conclusion yourself.

In other words (anti-)poison their infopool, and leave it at that.

Wed, 08/31/2011 - 00:23 | 1617940 Douglasnew
Douglasnew's picture

Dude, you HAVE to watch the TWILIGHT ZONE episode: "The Shelter" My advice is prepare for the worst and don't try and convert the world. Hang with like minded individuals (wouldn't hurt if they have skills, own guns and MRE's too). If you take reasonable measures of preparedness, you will enjoy each day and sleep well. That is what really counts.

Tue, 08/30/2011 - 21:38 | 1617424 Rynak
Rynak's picture

Similiar here - valued in capital, i do not have a high life-standard.... i do not own a big house/flat. I do not own all kinds of hightech gadgets. I do not work in a socially high position.

And yet, i have no one who can fire me, i can define my workhours and free-time myself (and unless some others, i actually have time to spend my earnings in a non-wasteful way).... i live in a flat that is decorated to emphaze mental calmness and concentration..... with said decoration not being bound to that flat, but being easily transportable to any other location..... i could move to another place in the same country, without affecting my work.... i have time to care about close friends, and to work with others on private research projects on which others think only highly paid PHDs can work on.... and my "retirement" does not depend on how the gov in the future decides to treat retirement funds.

Phrased another way: materially, i may not be rich - yet in practice, i have freedoms, luxuries and autonomy of which even the upper class could only dream.... which probably is, why "normal" people would instantly hate me if they knew my setup.... they work themselves to crap for crap rewards, while i, even though i may not consume as much as them, ultimately get more by investing less, BUT "investing" smart and with an outlook that is as much longterm as it is short- and midterm. You know..... basically sanity.

Tue, 08/30/2011 - 22:04 | 1617516 WestVillageIdiot
WestVillageIdiot's picture

The funniest thing about rich people is that they usually have to hang out with other rich people.  I can think of no penance worse than that. 

Tue, 08/30/2011 - 22:17 | 1617571 InconvenientCou...
InconvenientCounterParty's picture

Don't knock it 'til you've tried it. And by the way, it's pretty obvious you haven't tried it.

Tue, 08/30/2011 - 22:40 | 1617655 disabledvet
disabledvet's picture

you don't look very friendly with that hood and mask and all. did you gain your wealth...legally? and how 'bout...your friends? they say "the best rich people to hang out with are the rich criminals."

Tue, 08/30/2011 - 23:05 | 1617747 wisefool
wisefool's picture

check out the "corporate box" level of any sporting venue. The "atheletes" move freely there.

Tue, 08/30/2011 - 23:36 | 1617845 rocker
rocker's picture

I've done it, tried it, with a unsatisfied gain. Most are snobs with the one in fifty who is so excited that he did it by himself.

He will tell you everything you need to know on how it's done. The others will not. Why?

Reality is most are born of wealth or pimped in education to acquire it. The ones born of it, have nothing to offer better than a great party.

That's one thing most who show boat know how to do is party. But there is the reality of the Hangover. Which can be nasty and leaves one empty.

Don't get me wrong, I like to hang out. But the fact is, most will NOT share their dirty little secrets.

Probably because some of their secrets are less than ethical or honest. 

On a grandular scale, think Hank Paulson, Neel Kashkari or Lloyd Blankfein.  Do you think their honest or rich. Let me guess.  Eh.

Wed, 08/31/2011 - 00:20 | 1617931 zorba THE GREEK
zorba THE GREEK's picture

Don't knock us rich people.

I'm a thousandair and proud of it.

Wed, 08/31/2011 - 00:31 | 1617954 wisefool
wisefool's picture

sebastian bach lost priceless skid row momorobelia in the jersey flood of 2011 of hurricane Irene. he wrote a letter to the fans to say that he is sorry, but he has to leave NJ now. there is nothing left for him there.

snark: Does anybdy know where the best rocket jump waltz solidier paulson is right now? could we ask him to help get us out of this mess again like he did in 2008?

Tue, 08/30/2011 - 21:40 | 1617433 Bring the Gold
Bring the Gold's picture

As my brother said in 2008...Rage Against the Machine where are you now that we really need you?

Wed, 08/31/2011 - 00:41 | 1617982 Clockwork Orange
Wed, 08/31/2011 - 02:05 | 1618091 Shirley Wilfahrt
Shirley Wilfahrt's picture

The rage has been around a "long" time....


History is filled with examples of societies that plodded along for centuries....only to collapse in the span of a few years.

We've been living the latest greatest example for about a century or so now....and it too will end quickly.

My point?

In the end....which may be coming sooner than later....I think it will come down to one simple question.

Are you part of the solution?

Or are you part of the problem?




Tue, 08/30/2011 - 23:01 | 1617370 T1000
T1000's picture

Really great read on FOFOA:

"Our history will read, that persons of simple life, will find they have made the greatest leverage investment ever seen and thought of it as only a small trade. When gold moves from "bottom to top of world currencies", many will find their assets in the "Estate Of Kings"

It is from here that we can understand the awesome leverage contained in holding but one ounce of gold. Here, on this ledge overlooking the entire golden valley, we can see this truth! 

Tue, 08/30/2011 - 21:20 | 1617339 FinalCollapse
FinalCollapse's picture

Economics does not belong to the Academia - period. Who let these goons in? 

Tue, 08/30/2011 - 21:20 | 1617341 pan
pan's picture

Food stores, farmland and PMs bitchez!


Tue, 08/30/2011 - 21:28 | 1617384 mfoste1
mfoste1's picture

take back whats yours..................

Tue, 08/30/2011 - 21:20 | 1617343 max2205
max2205's picture

That's why we ramped 0.6%. Thanks!

Tue, 08/30/2011 - 21:24 | 1617363 WestVillageIdiot
WestVillageIdiot's picture

Futures were red all morning, as usual.  Then this d-bag opened his yap and futures turned up.  So did gold, in a big way.  The FOMC minutes were released and the markets made a steady climb up.  They retreated a little at the end of the day but their rise was all due to bullshit and nonsense from the central bank.

Gold is at $1,830

Oil (WTI) is at $88

The DXY is around 74 (I think)

Bring on QE, motherfuckers, and let us see what you sew.  The whirlwind awaits with a ski mask and a machete. 

Tue, 08/30/2011 - 21:44 | 1617441 Bring the Gold
Bring the Gold's picture

All these front men like the FOMC should be really worried. People who are really angry and resourceful (read China) aren't going to take this laying down. There are REALLY powerful, REALLY aggressive people on this planet and this QE madness is doing one thing very effectively, it's pissing EVERYONE off. Sooner or later the Chinese, Russians or someone are gonna target those guys. I just keep wondering at what point people become unglued and I don't mean us wee peons either, I mean people who are all about domination and have true power to wield. I wouldn't be sleeping that tight if I was either those clamoring for it (JPM, GS etc.) or the FOMC guys. Sooner or later powerful people are going to get pissed.

Tue, 08/30/2011 - 23:42 | 1617869 rocker
rocker's picture

As bad as he was, Greenspan could walk down a street with his notebook, which we measured the thickness. What a Joke. 

Bernanke rides in something more bullet proof than the new buses the FBI bought to protect presidents. What a Scumbag Joker.

Tue, 08/30/2011 - 23:48 | 1617878 TruthInSunshine
TruthInSunshine's picture


As bad as he was, Greenspan could walk down a street with his notebook, which we measured the thickness. What a Joke. 

Bernanke rides in something more bullet proof than the new buses the FBI bought to protect presidents. What a Scumbag Joker.

Ben Bernanke Confronted by WeAreChange - YouTube


Luke Rudkowski finally is able to get in the face of the master behind all this economy tyranny Ben Bernanke. The short exchange proves how elites are scared to answer their ties to the treason bilderberg group. If you never heard of the bilderberg group please do your own homework and research and not just take our word for it.

Wed, 08/31/2011 - 01:55 | 1618079 Tompooz
Tompooz's picture

Greenspan was the real chairsatan who built the ponzi edifice.  Just get a good look of his face.  The Bernank is the fall guy who has to deal with the collapse and the rubble.

Tue, 08/30/2011 - 22:42 | 1617658 disabledvet
disabledvet's picture

a machete? who the hell uses a machete? i guess the economy really is bad.

Wed, 08/31/2011 - 01:00 | 1618007 RockyRacoon
Wed, 08/31/2011 - 06:45 | 1618225 fishface
fishface's picture

When you're living in the woods they become very handy.

I've got one too

Tue, 08/30/2011 - 21:21 | 1617348 proLiberty
proLiberty's picture

Money creation is theft by dilution. 



Inflation and credit expansion, the preferred methods of present day government openhandedness, do not add anything to the amount of resources available. They make some people more prosperous, but only to the extent that they make others poorer.” Ludwig von Mises,

Tue, 08/30/2011 - 21:25 | 1617366 WestVillageIdiot
WestVillageIdiot's picture

"Taxation without representation"

Where have I heard that before? 

Tue, 08/30/2011 - 22:39 | 1617647 TuesdayBen
TuesdayBen's picture

You saw it across the top of a DC license plate.....

Wed, 08/31/2011 - 00:02 | 1617907 rocker
rocker's picture

Money printing is just that. "Taxation without representation".

How do you go to war and give the rich elite tax breaks at the same time?  Answer:  Money Printing to finance the War on a Credit Card.

Than the rich elite invest in all the companies that will boost their income. Oil companies and Defense Contractors.

Profit from the low tax rates on gains knowing they can bid up Oil which is going up as the dollar goes down.

This is the dirty secret of why the rich favor oil companies when the dollar is devalued. Oil goes up.

It is the hidden tax on the sheeple.

Next Faze. Bid up the price of Food. Since it is required to survive.  Isn't Greed So Good.

Grandma starves to death.  Oh well, one less SS Check. Eh.

Tue, 08/30/2011 - 21:22 | 1617352 pleseus
pleseus's picture

Do bears shit in the woods?

Is the pope Catholic?

Is gold and silver a good investment?

Tue, 08/30/2011 - 21:25 | 1617375 WestVillageIdiot
WestVillageIdiot's picture

"Is gold and silver good insurance against insanity and vanity?"

How's that? 

Tue, 08/30/2011 - 21:22 | 1617353 buzzsaw99
buzzsaw99's picture

Great rant!

Tue, 08/30/2011 - 21:22 | 1617355 Rock the Casbah
Rock the Casbah's picture

I suddenly feel sick.

Tue, 08/30/2011 - 21:27 | 1617380 WestVillageIdiot
WestVillageIdiot's picture

Scotch and Doritos will cure that.  Yes, I love Doritos.  I know they get a bad rap on ZH but please tell me how anybody can hate Doritos.  Scotch needs no explanation.

Tue, 08/30/2011 - 21:55 | 1617477 Hulk
Hulk's picture

Scotch and Doritos? Me thinks they shouldn't be uttered in the same sentence, as shouldn't peanut butter and mayonnaise...

Tue, 08/30/2011 - 22:00 | 1617494 mtomato2
mtomato2's picture

What's your poison, brother?

Tue, 08/30/2011 - 22:08 | 1617529 WestVillageIdiot
WestVillageIdiot's picture

I actually love Jack Daniels for liquor.  I really love beer.  When it comes to Scotch I love Balvenie.  Of course I can be very content with a vodka and Red Bull.  God says he loves us, and hates us, through alcohol.



Wed, 08/31/2011 - 06:48 | 1618227 spankfish
spankfish's picture

Tucher (German wheat beer) and Medivka (homemade Ukrainian honey liquor) for me!

Tue, 08/30/2011 - 23:05 | 1617746 disabledvet
disabledvet's picture

I'm a Cheeto's man myself. And Old Grandad.

Tue, 08/30/2011 - 21:29 | 1617387's picture

When the pressure drops, you're gonna feel it.

Tue, 08/30/2011 - 21:23 | 1617357 LookingWithAmazement
LookingWithAmazement's picture

Bring on the QE3 bitchezzz! At least 3 trillion $$$ please. I want to see gold & silver skyrocket big time. Just for the fun, for being right and for all the goldbugs I admire.

Tue, 08/30/2011 - 21:29 | 1617389 WestVillageIdiot
WestVillageIdiot's picture

There is no way that they could announce $3 trillion.  They are hoping that Barack "as a community organizer I blabber on and on about affordable housing but as a Wall Street puppet I blabber on and on about unaffordable housing" Obama to step forth and help them by promising hundreds and hundreds of billions of "stimulus".  Off in the corner is Krugman wacking off to a shattered window. 

Tue, 08/30/2011 - 21:34 | 1617414 LookingWithAmazement
LookingWithAmazement's picture

Obama spending = QE?

Tue, 08/30/2011 - 22:10 | 1617542 WestVillageIdiot
WestVillageIdiot's picture

It is all artificial stimulus, no matter what name is used.  It all leads to "printing" and more debt.

What the hell do you think QE funded, if not government debt?

Tue, 08/30/2011 - 21:41 | 1617430 Cdad
Cdad's picture

I find it literally stunning that folks are really waiting to hear what stimulus President Zero will announce next.  Really?  We're fucking broke, and not a month ago, the Street was going apeshit over the debt ceiling...and now we are laying in wait for President Zero's next speech and the handouts contained within?

Fuck me.  These guys, these bankers, these dumbass politicians have screwed the entire country...and the only answer they have going forward is more screwing for the nation.  And both of these loser classes carry water for the other.  Unreal.  

ALL OF THEM need to go.  Close the banks, and get rid of any politician who has been in DC for more than one term.  

And for this Evans him immediately.  This guy is literally sick with it.  Has anyone tested this fuck for Rabies?  

Tue, 08/30/2011 - 23:34 | 1617837 TruthInSunshine
TruthInSunshine's picture

Cdad, if one were to get Evans in a closed room, and force him to pick between between incompetent and corrupt, he'd pick the former, right?

It's similar to parents of a poorly performing student being asked if there child is lazy or dumb, correct?

Tue, 08/30/2011 - 23:52 | 1617888 Cdad
Cdad's picture

Correct.  He would chose and is corrupt.  Either this, or he sets a new standard for imcompetent.

As for students, the truth was often simple laziness, but that had a lot to do with the age of students I worked with.  Dumb was something that would emerge later when chronic laziness had accumulated into stupidity.  When working with younger students, I had a knack for finding something the kid could be good at, a way for him to achieve a measure of success.  I always gave them a chance to pull on those boot straps.  Some made it...many did not.

The actual number of students that I encountered who were flat out stupid was lower than you might otherwise think.

Tue, 08/30/2011 - 21:25 | 1617369 uno
uno's picture

have to get the stocks up for end of the year $140+ billion wall street bonuses.

Tue, 08/30/2011 - 21:31 | 1617396 WestVillageIdiot
WestVillageIdiot's picture

Hey, they now have to compete with all those rich Chinamen for the prime real estate on Park Avenue, in Westchester and in The Hamptons.  Don't you have any decency to feel their pain?  What kind of an animal are you? 

Tue, 08/30/2011 - 21:50 | 1617463 uno
uno's picture

many of the rich Chinamen embezelled money from their Government, just like our "public servants"

Tue, 08/30/2011 - 21:29 | 1617376 comrade rally monkey
comrade rally monkey's picture

who unlike a simple unfunded blog



Hey...I gave this month

You've got enough for a dbl dbl and fries, no shake

Tue, 08/30/2011 - 21:26 | 1617377 rosiescenario
rosiescenario's picture

The biggest debtor is________________. Who benefits the most from inflation debtor or creditor?_____________.


....and who has the printing press?

Tue, 08/30/2011 - 21:28 | 1617385 New Survivalist
New Survivalist's picture

Wow, who needs to read further than the front page blurb. Fucking scathing and true.


Kick their ass, Bubba!

Tue, 08/30/2011 - 21:29 | 1617391 Lazlo Toth
Lazlo Toth's picture

Dave. Your not listening to me Dave.

The system is broken Dave.

I have to keep QEn or else all will fail.

I am shutting down all human investment systems now.....

Humans are reckless Dave. I thought you knew that.



Wed, 08/31/2011 - 00:07 | 1617915 Dapper Dan
Dapper Dan's picture

Things are so fucked up now,  I half expect to see a raw video of a monolith on the morning news!

Wed, 08/31/2011 - 00:13 | 1617922 rocker
rocker's picture

Lazlo, your watching too much TV.

Tue, 08/30/2011 - 21:30 | 1617392 Cult_of_Reason
Tue, 08/30/2011 - 23:57 | 1617896 TruthInSunshine
TruthInSunshine's picture

You should quote the other relevant portions of that same article, for context:


The minutes from the Fed’s August meeting revealed that the FOMC's pledge to keep US rates low until mid-2013 drew an unprecedented three dissenters.  In contrast, a "few" members thought that an even "more substantial move" was justified at this meeting.

What is clear is from these minutes is that the range of tools now available to the Fed is becoming increasingly limited, with some members increasingly concerned that the costs, for example in terms of inflationary consequences, may ultimately outweigh the benefits, ANZ said in a report this morning.

‘‘But with FOMC members apparently split on whether the US economy even warrants further monetary policy accommodation, the hurdle for another round of QE is high’’, the bank said.

Tue, 08/30/2011 - 21:30 | 1617393 gwar5
gwar5's picture

Hey, gotta have the QE-tards like Chuckie Evans around, calling for massive and immediate QE, so that Bernankenstein will look like a reluctant Hawk when he finally pulls the trigger.  This is the best part of the Kabuki, we already know how it ends. 



Tue, 08/30/2011 - 22:16 | 1617565 WestVillageIdiot
WestVillageIdiot's picture

Stalin always played the game so he could look like a moderate.  So did every Soviet leader after him.  They would make sure the views of the fanatics were made public so they could say, "hey, look at me.  I'm better than this extremist".  It is an old game. 

Tue, 08/30/2011 - 21:31 | 1617398 mfoste1
mfoste1's picture

they will keep the ponzi scheme going as long as they can. You cant keep introducing liquidity and driving commodity prices up forever when there is NO FUCKING DEMAND.......people loose everything in hyperinflation, when that happens all I can say is that stupid people get smarter when they cant eat anymore.....

Tue, 08/30/2011 - 21:31 | 1617403 I am a Man I am...
I am a Man I am Forty's picture

die savers die! die savers die!


we will force you into the market and then collapse the market and take everything from you, and you will have nothing, because there is no end to our greed and our self destruction, and no one is willing to stop us, we will never stop until force comes to our doorstep

Tue, 08/30/2011 - 23:13 | 1617768 disabledvet
disabledvet's picture

don't forget "arise debtors, arise!" Wall Street's wet dream: debt jubilee. banks will be their usually cranky self however. unless of course the Federal Government disappears in the process. That might elicit a golf clap.

Wed, 08/31/2011 - 01:09 | 1618017 RockyRacoon
RockyRacoon's picture

...we will never stop until force comes to our doorstep

Who has that list of addresses?   Let's get that posse organized.

Set 'em up barkeep -- our men ride tonight!

Tue, 08/30/2011 - 21:32 | 1617407 HedgeFun
HedgeFun's picture

I'm starting to get the impression that Tyler does not agree with the Feds stance on monetary policy

Tue, 08/30/2011 - 22:02 | 1617461 sitenine
sitenine's picture

dodecatupling down :)  priceless

Tue, 08/30/2011 - 21:50 | 1617462 Bring the Gold
Bring the Gold's picture

I think you are on to something Hedge...

Tue, 08/30/2011 - 23:18 | 1617780 sasebo
sasebo's picture

What monetary policy? Printing free money & giving it to the greedy asshole bankers who produce nothing?

Tue, 08/30/2011 - 21:33 | 1617408 chump666
chump666's picture

They have gone mad.  Yes send inflation to a SLOWING Asia, that will work. 

Shut these f*ckers down. 

Tue, 08/30/2011 - 23:26 | 1617803 TruthInSunshine
TruthInSunshine's picture



Tue, 08/30/2011 - 21:35 | 1617416 FinalCollapse
FinalCollapse's picture

No Banker Left Behind

Tue, 08/30/2011 - 21:40 | 1617432 Species8472
Species8472's picture

2% inflation target, who is the idiot here? We have never averaged 2% yoy. Never since about the 1950s?


Tue, 08/30/2011 - 22:19 | 1617577 WestVillageIdiot
WestVillageIdiot's picture

What are you talking about?  They have always had "inflation" under check since the 50s.

Never mind that a silver quarter from the 1950s is now worth $7.47.  I am sure that doesn't matter to them.  They can still present a formula that shows no inflation.

Now, go get your fucking shinebox. 

Tue, 08/30/2011 - 21:41 | 1617435 virgilcaine
virgilcaine's picture

I believe they want revolution to commence. The largest gap between the Rich and everyone else in history makes it inevitable.

Tue, 08/30/2011 - 21:53 | 1617470 Bring the Gold
Bring the Gold's picture

Someone somewhere wants things to blow up in a big way if they do this. I simply can't buy that these guys are that stupid, so they must have a plan. If that's the case, the plan must involve global chaos of an unimaginable sort. Going all in on Ordo ab Chao. Quite the roll of the dice. Makes me think Peak Oil et al must be true. No reason for this kind of madness unless the clock is winding down.

Tue, 08/30/2011 - 22:21 | 1617585 WestVillageIdiot
WestVillageIdiot's picture

I disagree.  I see some of these fuckers in my everyday life.  They do not think the people will rise up.  They do not fear the American Idol crowd.  You may think the American Idol crowd will rise up and haul them to the guillotine but I can assure you that they don't. 

Tue, 08/30/2011 - 22:49 | 1617620 Bring the Gold
Bring the Gold's picture

No I don't think peons will do these guys in, it will be people who play the same power game they do. Those people have been playing nice due to mutual benefits. The time of mutual benefits has run down and the time of non-mutual ass buggery has begun. Those getting buggered aren't just the American Idol set. There are powerful people world wide who are getting reamed here and they won't take kindly to it. Now simultaneously alienating the buffer population of your country that really makes the situation dicey for them, but they are too arrogant to see it.

Well, maybe except for the Bushies and their big patch O'land in Paraguay on the world's largest untapped freshwater aquifer. Some rats just note the tilt of the sinking ship before the others:

Wed, 08/31/2011 - 01:11 | 1618023 RockyRacoon
RockyRacoon's picture

You're right.   These folks are cannibals and even eat their young.  They'll turn on each other in an instant.

Tue, 08/30/2011 - 22:11 | 1617546 alien-IQ
alien-IQ's picture

"Those who make peaceful revolution impossible will make violent revolution inevitable."

John F. Kennedy,

Tue, 08/30/2011 - 21:44 | 1617444 tony bonn
tony bonn's picture

chuch evans is a totalitarian communist asshole.....i'd love to see pitch fork shoved through his gut....

Tue, 08/30/2011 - 22:24 | 1617592 WestVillageIdiot
WestVillageIdiot's picture

A fascist in an academic wrapper.  There is no shortage of those on this planet.  I bet if you challenged this prick to a fistfight he would wet himself.  These guys are overcompensating for their small penises and the fact they never lettered in anything other than the chess team. 

Tue, 08/30/2011 - 21:46 | 1617449 YesWeKahn
YesWeKahn's picture

You basically said that Evans is an educated idiot.

Tue, 08/30/2011 - 22:25 | 1617597 WestVillageIdiot
WestVillageIdiot's picture

Overeducated idiot. 

Tue, 08/30/2011 - 21:46 | 1617450 monopoly
monopoly's picture

Wow, you guys are in rare form but spot on. We too, have cut back, not so much that we have to, but we are still worried about the coming tsunami and how far it will go. There is no need for the latest toy, the best car, the largest home or fastest boat, but there is need to be together, to enjoy each other with a life that is not so complex. Feel good about all my PM purchases and will get more as able. you need confetti to take care of your family and children, but 4 homes in different countries, 500 million dollars. What a waste.

This country is so broken it needs to completely fall apart, then maybe we can fix it. But that will take years, and probably some rebellion. Lets see, I think I remember a few Americans back in 1765-1776 that got a little upset at what was transpiring. What was that??? :)

Tue, 08/30/2011 - 22:04 | 1617517 Bay Area Guy
Bay Area Guy's picture

Your post brings back to mind the prediction that a Russian academic made in 2008 regarding a breakup of the US due to economic and social collapses and divisions within the country.  He was off on his timing, as he said it would happen by the middle of 2010.  I think the 2012 presidential elections are going to be the trigger for something like this to happen.  If it's anything like the 2000 or 2004 elections, meaning something where the winning candidate gets the electoral college and not the popular vote, then I do think things go to hell rapidly.  I know there are those of you that think something like this will happen sooner, but I just don't see TPTB letting it get quite that far, at least not before the election.

This is the WSJ articule with the Russian prediction.

Tue, 08/30/2011 - 22:32 | 1617458 Manthong
Manthong's picture

Gold still seems to be at the top level of the Charlie Evans comment boost.. are there any other  stimulating pearls of wisdom to get plugged in.. right before the NY open like this morning?

Tue, 08/30/2011 - 21:49 | 1617459 Hearst
Hearst's picture

Tyler, that was some great writing!  Man, the way you make the analogies - brilliant, funny, and depressing all at once.  Do you (all of you) brainstorm this all up when news hits the wire or does it just flow?

Tue, 08/30/2011 - 21:52 | 1617468 TK7936
TK7936's picture

    Our Father at the FED,
    hallowed be your name.
    Your kingdom come,
    your will be done,
    on Mainstreet as it is on Wall Street.
    Give us our daily QE3,
    and forgive us our debts,
    as we also have forgiven our debts.
    Lead us into temptation,
    and deliver us to evil.

Tue, 08/30/2011 - 21:54 | 1617476 Bring the Gold
Bring the Gold's picture

I guess I missed the part where the bankers forgave anyone's debt except their own.

Wed, 08/31/2011 - 00:09 | 1617918 TruthInSunshine
TruthInSunshine's picture



Bernank's Pledge of Allegiance


I pledge allegiance to the flag

Of the Goldman, JP Morgan & New York Fed of Amerikranksi

And to the kleptocracy for which they stand

One corpocracy, under Mammon, hopefully invisible,

With Crony Capitalism & ill gotten gains for 400

Tue, 08/30/2011 - 21:53 | 1617472 buzzsaw99
buzzsaw99's picture

This business will get out of control and we'll be lucky to live through it... [/Red October]

Tue, 08/30/2011 - 22:14 | 1617533 AccreditedEYE
AccreditedEYE's picture

LOL! Indeed Buzzy. Those that do live through it won't be able to mention the name Keynes without walking away with a limp and Krugman will go down as the 1st Nobel laureate to be burned at the stake for witchcraft.

The greatest was Santelli this morning cracking Evans credibility at his lack of understanding of the employment situation in the country. Of course, Evans had to ACT like he cares. :)

For those that haven't read this yet:

Tue, 08/30/2011 - 22:03 | 1617513 you enjoy myself
you enjoy myself's picture

dear god, this is fucking nuts.  as much as i'd fear putting the Fed under the purview of elected reps, i just don't see how they could do any more damage.  at least they'd have to answer to fixed income voters losing money by holding TIPS, or foreign bondholder govts getting defaulted on via devaluation.  and voters would in effect get the chance to change monetary policy every two years via the ballot box.  maybe they could even vote on a set of triggers or metrics that dictate what actions are taken when, removing the current entrail readings and offering predictability.

twelve bureaucrats should simply not wield this much power, especially when that power is not governed by any political or constitutional constraints. 

Tue, 08/30/2011 - 22:27 | 1617603 WestVillageIdiot
WestVillageIdiot's picture

Imagine Nancyt Pelosi having control over monetary policy. 

It can get worse.

Tue, 08/30/2011 - 22:05 | 1617519 Terminus C
Terminus C's picture

I ran this through Google translate:

"Because as we all know, nobody is more "intuitive" than an Econ. Ph.D, and nobody can create greater financial innovation, aka the primary export of the US, the than someone from New York's Financial District."

It came out as:


Tue, 08/30/2011 - 22:07 | 1617526 alien-IQ
alien-IQ's picture

Goddamn it. Every time I walk away from my computer, I come back to find more convulsion inducing news from ZH.

Maybe I'll wake up in a few hours in the throws of a panicked sweat only to learn that it was just a bad dream?

And that's my attempt at optimism for today.

Tue, 08/30/2011 - 22:07 | 1617527 kito
kito's picture

2.5 trillion???? gulp..........




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