• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Flash Crash Part 2

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Mon, 08/08/2011 - 14:36 | 1538377 JuicedGamma
JuicedGamma's picture

Thankfully ZeroHedge is seemingly stable today.  I would have to find a building to leap from otherwise.

Mon, 08/08/2011 - 14:39 | 1538394 redpill
redpill's picture

Not for me, I've been having a bitch of a time getting it to load. I've got my parachute packed though, checked it three times.

Someone send Paul Krugman another Long Island Ice Tea, he's sitting in a reclining deck chair listening to the band playing...

Mon, 08/08/2011 - 14:39 | 1538395 nodhannum
nodhannum's picture

I was thinking about jumping out of my basement window. Ninety percent in cas and ten percent in physical maple leaves...loving every minute of it!

Mon, 08/08/2011 - 16:03 | 1538893 Two Towers AU AG
Two Towers AU AG's picture

YIPPPIEEEEE ... I am better.. 10 % PM and 30 % cash in hand and 60% cash deposited in Bank of America  LMAO..... thinking of withdrawing and investing another major chunk in PM.. As I see it there are 2 options here..

1. The Fed does nothing and gold to the Moon..

2 The Fed launches QE3 and Gold to the Moon..

Am I missing something here guys... ????

Mon, 08/08/2011 - 14:41 | 1538404 Whatta
Whatta's picture

I would have to find a building to leap from otherwise.

I was gonna take the leap out my (home) office window a minute ago. But then I realized I am on the first floor, would land in my wifes flowers....and she'd just get apeshit pissed at me, I'd get muddy and would have to go back inside anyway....oh well.

Mon, 08/08/2011 - 15:18 | 1538568 Pegasus Muse
Pegasus Muse's picture

lol.  Boy, I can relate!!

Mon, 08/08/2011 - 15:23 | 1538588 JuicedGamma
JuicedGamma's picture

Yeah but then you'd be dead.  That was the intention, no?

Mon, 08/08/2011 - 16:19 | 1539044 Two Towers AU AG
Two Towers AU AG's picture

Does it hurt when you die.. need to know what to expect... :) :)

Mon, 08/08/2011 - 14:48 | 1538432 cbxer55
cbxer55's picture

I'm also having a heck of a time getting on, and it seems odd that I cannot even stay logged in anymore. If I go away from ZH for a few minutes, when I return I'm logged out. Keep getting "computer cannot display website" multiple times before it finally shows. Then when I get the home page, I click a link and "computer cannot display webpage" again. Hit back arrow and theres home with me logged out again.

Its getting pretty dang frustrating here, let me tell ya.

Must be some real heavy traffic because of how poorly the markets are doing lately.

Where Eddie Haskell when ya need him???  ;-)

Mon, 08/08/2011 - 17:43 | 1539563 KingdomKum
KingdomKum's picture

or possible gubmint intervention   .  .  .  

Mon, 08/08/2011 - 14:50 | 1538439 High Plains Drifter
High Plains Drifter's picture

maybe they should get some more fans to cool off those swedish servers..........

Mon, 08/08/2011 - 14:36 | 1538379 dwdollar
dwdollar's picture

Then the magical bounce...

Mon, 08/08/2011 - 14:37 | 1538380 chinaguy
chinaguy's picture

bought XOM @ the bottom hope they don't bust the trade - lol

Mon, 08/08/2011 - 14:43 | 1538414 au_bayitch
au_bayitch's picture

Me too, just brought sto and xle.

Mon, 08/08/2011 - 15:05 | 1538490 chinaguy
chinaguy's picture

gonna flip it if Benny boy says the QE3 word tomorrow....

Mon, 08/08/2011 - 14:37 | 1538381 cpnscarlet
cpnscarlet's picture

WTF just happened to PSLV?????

Mon, 08/08/2011 - 14:41 | 1538405 Smiddywesson
Smiddywesson's picture

I second that question re PSLV

The silver and gold trusts don't track very well.  Is there some tracking error we should be aware of?

Mon, 08/08/2011 - 14:42 | 1538410 Whatta
Whatta's picture

17% premium to NAV. It has nowhere up to go at this time.

Mon, 08/08/2011 - 14:37 | 1538382 Abitdodgie
Abitdodgie's picture

It's tradition

Mon, 08/08/2011 - 14:37 | 1538383 PierreLegrand
PierreLegrand's picture
On this day it is good to remember all the assholes who said this motherfucking childking was the second coming?

Peggy Noonan was one of the traitors from the right.

Noonan Has Blood On Her Hands And Won’t Face It…
Mon, 08/08/2011 - 14:43 | 1538412 Smiddywesson
Smiddywesson's picture

Two -500 point days in the Dow

Change you can believe in.

Mon, 08/08/2011 - 15:09 | 1538514 aramsogo
aramsogo's picture

I miss the days when Bush would speak and the DOW would only drop 300 points. Congrats America, you found someone dumber than Bush.

Mon, 08/08/2011 - 16:27 | 1539125 Havana White
Havana White's picture

Nobody dumber than Bush.  No administration anywhere near as destructive and divisive.  Multiply the next worst admin to Bush's by 100 -- still nowhere near the damage those freaks of character wrought upon this country over eight miserable years.  Twice daily waterboarding for life, for the scores of those values-free cretins, would be far too lenient an answer for their kaleidescopic crimes.  But war crimes trials will be fine for a start.

And this is my good mood critique.

Mon, 08/08/2011 - 14:38 | 1538384 gangland
gangland's picture


saw that, dow -605, s&p -80 nas -150 gold +70


bloomberg: s and p downgrades fanny/freddie


Mon, 08/08/2011 - 14:42 | 1538409 duo
duo's picture

TZA a double (almost) in a week!

Mon, 08/08/2011 - 14:38 | 1538388 Spitzer
Spitzer's picture

HFD Canadian financial short +7.91%

Mon, 08/08/2011 - 15:46 | 1538747 Raphio
Raphio's picture

Gotta love FAZ too - US financial short up 20+% today

Mon, 08/08/2011 - 14:38 | 1538389 Westcoastliberal
Westcoastliberal's picture

Does this mean take your downside profits today before Bernanke fires up the chopper again?

Mon, 08/08/2011 - 14:38 | 1538390 Whatta
Whatta's picture

Do we get to vote on what QE3 will be called?

Like "The Patriotic Refinancing Incentive Credit" or just PRICK for short.

Stick Americans with a PRICK they will.

Mon, 08/08/2011 - 14:57 | 1538459 Transitory Disi...
Transitory Disinflation's picture

I think it will be:

"Bernanke Over Leveraged Levers Or Can Kicking Solution" or BOLLOCKS

"Fed Unreserved Can Kicking" or FUCK

"Slaves Have It Tomorrow" or SHIT


Or a combination of them all...

Mon, 08/08/2011 - 14:38 | 1538391 Count Laszlo
Count Laszlo's picture

It's time.

Mon, 08/08/2011 - 14:39 | 1538393 lolmao500
lolmao500's picture


Mon, 08/08/2011 - 14:39 | 1538396 Bastiat
Bastiat's picture



Did WmBanzai7 go to work for Drudge?

Mon, 08/08/2011 - 14:44 | 1538421 JuicedGamma
JuicedGamma's picture

That pic of Obama smootching Geithner's right lip snarl appears undoctored to me, note the focus and lighting.  Banzai would have added lipstick.

Mon, 08/08/2011 - 14:48 | 1538429 centerline
centerline's picture

LOL.  That is priceless.

It really is funny watching all the "leaders" attempt to calm the markets at this point.  Just a warm up of course for the disaster that will ensue when the time comes to attempt to calm the masses.

Someone cue the "oh, and we're out of coffee" scene from airplane!

Mon, 08/08/2011 - 14:40 | 1538397 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Yahoo put up a story about the S&P response to Obama's address.  They are calling it a "smokescreen".


This is a catastrophe and no one in the administration seems to understand it.  The downgrade on it's own means next to nothing (who didn't see it coming), but the response from the whitehouse lays their hubris bare.  Its just one middle finger after another pointed at the messenger.

Mon, 08/08/2011 - 14:40 | 1538398 Archimedes
Archimedes's picture

Finally made serious money in FAZ and DRV! Sold out as we got close to market shut down. Thinking The Bernank will announce something and we may get a little pop but I will be shorting that Rally.

Where are all the Bulls today?

Mon, 08/08/2011 - 14:40 | 1538399 souljaboy
souljaboy's picture

ClowardPiven anyone?

Mon, 08/08/2011 - 15:26 | 1538615 DosZap
DosZap's picture


They are all in D.C.,IN and around 1600 Penn,(and members of His majesty CZAR teams).

Mon, 08/08/2011 - 18:01 | 1539628 Hugh_Jorgan
Hugh_Jorgan's picture

You got it. Along with many other strategies, all at once. America is under attack from inside and outside. WWIII has been underway for years.

Mon, 08/08/2011 - 14:42 | 1538400 PierreLegrand
PierreLegrand's picture

If you are stockpiling ammo, food and gold this might be a good cartoon to study.


Mon, 08/08/2011 - 14:55 | 1538452 cpnscarlet
cpnscarlet's picture

Bought the AR-15 LE today.

Mon, 08/08/2011 - 15:14 | 1538541 JW n FL
JW n FL's picture


Botched Paramilitary Police Raids: An Epidemic of "Isolated Incidents"

"If a widespread pattern of [knock-and-announce] violations were shown . . . there would be reason for grave concern."

 —Supreme Court Justice Anthony Kennedy, in Hudson v. Michigan, June 15, 2006.

An interactive map of botched SWAT and paramilitary police raids, released in conjunction with the Cato policy paper "Overkill: The Rise of Paramilitary Police Raids," by Radley Balko.

What does this map mean?

The proliferation of SWAT teams, police militarization, and the Drug War have given rise to a dramatic increase in the number of "no-knock" or "quick-knock" raids on suspected drug offenders. Because these raids are often conducted based on tips from notoriously unreliable confidential informants, police sometimes conduct SWAT-style raids on the wrong home, or on the homes of nonviolent, misdemeanor drug users. Such highly-volatile, overly confrontational tactics are bad enough when no one is hurt -- it's difficult to imagine the terror an innocent suspect or family faces when a SWAT team mistakenly breaks down their door in the middle of the night.

But even more disturbing are the number of times such "wrong door" raids unnecessarily lead to the injury or death of suspects, bystanders, and police officers. Defenders of SWAT teams and paramilitary tactics say such incidents are isolated and rare. The map below aims to refute that notion.


How to use this map

Click on each marker on the map for a description of the incident and sources. Markers are precise in cases where the address of an incident was reported. Where media reports indicate only a town or neighborhood, markers are located at the closest post office, city hall, or landmark. Incident descriptions and outcomes are kept as current as possible.

Other map features:

--Using the "plus" and "minus" buttons in the map's upper left-hand corner, users can zoom in on the map to street-level, as well as switch between street map and satellite views. In some large metropolitan areas, there are so many incidents in such close proximity that they tend to overlap unless viewed on a small scale (try zooming in on New York City, for example).

--Users may isolate the incidents by type by clicking on the colored markers in the key (see only "death of an innocent" markers, for example).

--The search function just below the map produces printable descriptions of the raids plotted on the map, and is sortable by state, year, and type of incident.

Embed this map on your blog or website, or view it in Google Maps


Mon, 08/08/2011 - 15:07 | 1538502 malek
malek's picture

More like if you forgot to stockpile ammo...

Mon, 08/08/2011 - 14:40 | 1538401 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

Denninger nails it with these posts.

1/They Will Never Change: Vote Them Out.....

2/Uh Oh... AIG Intends To Sue BAC?.....

3/CONgress and Obama: You Own This.....


****OT: Hilarious Upside Down 2 minute video.....


Mon, 08/08/2011 - 15:02 | 1538478 Bay of Pigs
Bay of Pigs's picture

How's Karl on gold these days?


Mon, 08/08/2011 - 18:37 | 1538492 fuu
fuu's picture


Mon, 08/08/2011 - 14:40 | 1538403 Iriestx
Iriestx's picture

2:30p and the PPT kicks in after Obama's speech.  We go for a green close!  Spend that $2.8t.

Mon, 08/08/2011 - 14:42 | 1538407 doggis
doggis's picture


 the QE3 trade is too crowded. too many people to one side of the boat. i will take the other side of that trade. The US credit downgrade has tied the Fed's hands.

this is a rare and may is say unique ocassion when i would venture to be at odds with you TD....this is one of those ocassions.

let us see how this unfolds.

the doggis

Mon, 08/08/2011 - 14:57 | 1538458 Bastiat
Bastiat's picture

The US credit downgrade has tied the Fed's hands.

How so?  Did S&P mention the value of the currency in which the obligations are paid as a credit rating factor?



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