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IMF to Bernanke: Thanks For Nothing, As Threat To International Monetary System Looms
We suspect the world was placing a little more 'hope' in Bernanke's willingness to print-and-save-us-all as the IMF just announced the activation of its "New Arrangements to Borrow" for a further six months. Obviously, given the quota subscriptions and the nature of the NAB, we suspect the rest-of-the-world will get pound of flesh (or USD bailout) implicitly.
IMF Activates Standing Borrowing Arrangements for Further Six-Month Period
Press Release No. 11/342
September 21, 2011
The International Monetary Fund (IMF) announced today that its Executive Board has formally completed the process of activation of the New Arrangements to Borrow (NAB) for a further six-month period from October 1, 2011 to the end of March 2012. The expanded NAB became effective on March 11, 2011 and was activated on April 1 for the maximum period of six months (see Press Releases No. 11/74 and No. 11/109).
The NAB is a standing set of credit lines under which 36 members or their institutions have committed to provide supplementary resources to the IMF totaling up to SDR 363.6 billion (about US$571 billion1). Activation requires the consent of participants representing 85 percent of total credit arrangements eligible to vote and the approval of the IMF’s Executive Board. Since the April 1 activation, some SDR 27.7 billion have been committed to Fund-supported programs for which NAB resources could be drawn, and actual drawings under the NAB amounted to SDR 6.8 billion (US$11 billion).
The NAB is supplementary to quota resources, which are made up of the quota subscriptions each member pays upon joining the Fund and in the context of quota increases thereafter, broadly based on its relative size in the world economy. The IMF is a quota-based institution, and the Fund’s Board of Governors has emphasized that each member of the Fund commits to use its best efforts to complete the steps required to make the quota increase under the 14th General Review of Quotas effective no later than the Annual Meetings in 2012.
And from Dow Jones (via Global Finance)
WASHINGTON -- The International Monetary Fund Wednesday re-activated a $571 billion resource pool to ensure it has funds to help cover Europe's worsening sovereign-debt crisis.
The IMF extended activation of its so-called New Arrangements to Borrow for a six-month period from October.
The crisis is entering a dangerous new phase. The risk of a Greek default is rising and Italy and Spain's sovereign debt has come under attack.
According to the IMF, the pool of supplementary resources are only to be activated when "needed to forestall or cope with a threat to the international monetary system." The IMF managing director must first make a special request to tap the special kitty.
IMF Managing Director Christine Lagarde has said recently that a heightened readiness is required given the elevated risks in the global economy.
So far, the IMF has already distributed nearly $11 billion from the NAB. Specific financing programs requiring additional board approval are needed to use the resource pool.
In total, the supplementary fund can provide up to about $571 billion in extra resources to the IMF, but only around $331 billion is currently available for use. Without the special resource pool, the IMF would only have around $60 billion on hand.
It is funded through bilateral loans from countries, unlike normal IMF lending resources, and is designed as a temporary measure. It is expected to be largely replaced by an agreement reached late last year by the fund's board of directors to increase quotas, the share of contributions that each member must give to fund IMF lending.
-By Ian Talley, Dow Jones Newswires,
This is not completely unexpected as we have been discussing the rise in borrowing arrangements/facilities at the IMF for a while - what is notable is the timing - given constant chatter out of Europe that all is 'satisfactory'. No reaction whatsoever in ES so far, a small tick up in EUR and Gold...but mostly noise.
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I think Biden promised Wen Jiabao no printing for a few months... protecting Chinese purchasing power.
Don't worry, bitchez!
Bernanke will be printing soon!
http://azizonomics.com/2011/09/21/no-qe3-yet/
If he doesn't print, we're looking at a severe deflationary crash.
The commodity investors--including the gold and silver bugs--will be in for quite the beating.
In the end?
He'll print. He has to to keep the Ponzi scheme going.
You metal boys are safe--for the time being.
http://geraldcelente.proboards.com
@oobrien/geraldcelente spammer
We're on the stagflation precipice. There is no way to keep inflating without major civil unrest. Three fucking fed governers dissented. Why? They know how bad it is. The choice not to inflate may hurt asset values, but at least commoners will be able to afford to eat.
I can't believe this oobrien guy.
"You metal boys are safe for now"
I mean what the fuck?
Benny prints metals go higher as an inflation hedge (and silver particularly on greater industrial demand) and a hedge against dollar collapse due to devaluation.
Benny doesn't print metals go higher — because asset prices will be collapsing and people will be desperate for a safe haven.
Beyond the potential for a transitory 10% dip (which would quickly rebound) there is practically no downside to metals right now — only upside.
market movers will sell gold, since it's been a profitable trade, and wait on the sideline for the end of Eurozone. No US triache for world economy, means blowback in Greece & Spain, since their feeble economy will likely enter great depression territory.
DormRoom - I think you may have confused triache w/ biache. Possible?
Screw the IMF, World Bank, U.N., and all other tools of the NWO Agenda.
And screw their puppet central banksters, such as The Federal Reserve, Bank of England, European Central Bank & Bank of Japan, also.
It's time that even those who haven't expressed concern up until this critical juncture in history join with those of us who are awake and realize that only evil, destruction, erosion of living standards, complete control and subjugation, and in fact, slavery can come from anything even remotely resembling an integrated, world government.
It is way past time that the people of the world demand that their respective governments represent their independent interests, free of any demands, impositions or other external pressures from any global or world bodies, and if their respective governments don't oblige the wishes of their citizenry, dispatch with those governments who defy the will and best interests of the citizenry they are supposed to represent.
Kill the NWO completely and forever. It's an inherently evil concept that will lead to inherent and perpetual evil if it is brought about.
Any global, integrated government will ultimately and simply make total slaves of all of mankind.
If I were the POTUS, I'd make sure to surround myself with a loyal and moral core of dedicated men and women, and I'd order the destruction of the IMF, World Bank & U.N. by any means necessary, including carpet bombing of all of their facilities and destruction of their infrastructure, and I'd demand that Congress pass legislation making it an act of sedition, punishable as a capital offense, for any U.S. Government Official to communicate with or cooperate with any person or entity advocating for the interests of any such organization.
I would also immediately order the DOJ (and encourage states attorneys general) to research all laws allowing a complete and total dissection of all federal reserve bank activity, and push for a total repeal of the Federal Reserve Act of 1913, and to bring forth any and all criminal charges that can be meritoriously filed as information against all federal reserve bank members/employees/agents under all applicable federal (and state) laws.
You should shut the fuck up.
Is that you, David Rockefeller, you seditious bastard. You will hang by your balls soon enough. You can only run for so long, old man.
What's that, all those entities only after your best interest? The IMF just trying to feed hungry Africans? Helping the greeks not owning the Acropolis? It's called anger and it's spreading like a Prairie Fire
It's the next Fed/anti-PM troll...
That was great!
Let's do it!!!!!!!!!!!!! I'm sick of all this obnoxious, pompous, meaningless bullshit.
There are some poor souls marching around on Wall Street as we speak/write. Go on down there and join 'em.
Me? I'm stopping off at the local sporting goods store in the morning for some more ammo....
I absolutely agree. Buy PMs, it's our only choice. If you were to read history backwards, you'd realize the same mistakes are generally repeated ad nauseum.
Now that the FED said no QE, maybe the QE is going to come via tthe IMF. Funny how they announced the 6 month reactivation with potential for more than half a trillion $ the night the Fed said no QE
actually i'm in agreement with this point of view. obviously looking at any market through a single lens is death to a portfolio so keep pounding square pegs into round holes--i won't stop you. the question really isn't "will gold be sold" but "is the surge looking winded." obviously the answer is yes. no one is a fool for owning gold let alone buying it--but we all are fools if we think markets move in one direction. hence the only market rule: "diversification...within reason." to me that's equities, fixed income, cash, precious metals and economists. everything else is speculative. i've slammed The Bernank empirically harder than anyone--and that includes the possibility of operation twist given their stated objective of "creating inflation." this would patently fly in the face of that objective. so the logical question then is not to start running aruond "zh style" like chickens with our heads cut off but ask the obvious question: "since we know he's not an idiot...why do it?" the criticisms are obvious. so what about the "positivisms" then? right now the biggest postive i see is there's no doubt who's "got Wall Street by the nose." And of course no less than Wall Street itself should love that. "There's no question who's in charge here." And while i agree "it ain't them"--methinks they'll take the leadership of "The Exorcist" Bernanke even though it creates...discomfort. http://www.youtube.com/watch?v=-bDhoXcrbks&feature=player_detailpage
I was surprised at the drop in PM in Oct 2008. The argument at the time was forced liquidation due to margin calls and the need for cash. He may be thinking that history will repeat itself, but driving while looking in the rear view mirror is dangerous and unreliable. And it could be that even if gold does drop due to deflationary pressure, your 3rd scenario calling for a minor and transitory dip is all that it amounts to.
I'm not a hard core metal bug, so I have no dog in the hunt. I can't afford the dog quite frankly.
Speculating that "uncertainty" especially in Europe with keep the metals prices up. Where is the IMF going to get this money from? Printing is a likely answer (where does the US get the money it doles out to the IMF? Printing). Who supplies a huge share to the IMF? The U.S. - or perhaps I should say US. All this amounts to is a cluster-f of dollar holders. They are draining money away from the major countries. I don't want to bail out Greece, and I sure as hell don't want to pay taxes for that purpose.
There's no way the global system can do anything but print. We have either Cathardic events (sudden collapses) -OR- we have slow painful bleeding dry of the citizens to "keep the system going."
Gold is a competing currency. There's only so much of it on the globe. China is trying to build gold reserves so they can partly back the Yuan. If the dollar conversion of gold currency is such that I can buy more of it with fewer dollars, then I'd be quite happy. Because the dollar won't say up - especially when the hot air runs out. I figure Bernanke has about 24 months before he completely loses control.
Ummmm, it'll be needed.....
You are 100% correct. The FED will disregard Wall Street (for the time being). But they know inflation/stagflation is there, they also know China is most likely going into a major stagflation crunch - so they won't print unless oil goes to $30 or indexes go down 30% or 40%. But by then any print job will be pointless...The global economy will crack like an egg.
You have all the brains of a 12-year-old masterbator.
Oh, really, you ARE a 12-year-old-masterbator.
So sorry, my mistake.
As a metal bitch, I take umbrage with that boy remark.
CM, I've noticed you frequently resort to personal attacks whenever anyone disagrees with your position, or if they offer an alternative line of thinking with regards to PMs. You're obviously very emotionally involved with your PM trade, and you actually are the one who acts like a pre-pubescent boy. You act like a tool. The level of angst you display betrays your confidence. Grow a pair.
L0L!!!
he's responding to a fuking troll-bot, dawg!
or haven't you "noticed"
Slewie! Ahoy! I haven't paid close enough attention to oobrien to know if he's a troll or not, but he made a valid point. But I know, I know, he said something about the possibility of PMs taking a beating, so naturally he's going to take one himself. I've been there before, I know the feeling. And I've said this before, too: I'm not anti-PM, I'm a buyer of physical, but I see better buying opportunities in the future, and looking at the numbers this morning, I might be right.
But he spells like an adult.
He won't print. 3 board members oppose, and it'd be hard for him to convince the others, given the data (QE boosted equities, but did nothing for the job market). Only fiscal stimulus can save the US, but that's not happening.
Republican will win Congress & the white house in 14 months as we enter the Greatest Recession (30 year debt bubble does that), and Bernanke will get fired.
How do you know you're in the Greatest Recession? When the US Central Fed chairman loses his jobs, like the rest of us.
In other news, Large Hadron Collider still set to increase energy beams by Christmas, so that's when the null singularity occurs for sigma 6+ events, like a complete systemic financial collapse.
I don't think we'll get a mini-black hole.
I think we'll get uncontrolled boson generation leading to unstable warp bubbles.
LOL, nicely done.
They find the Higgs particle?
They will discover that the Higgs boson is infinite in quantity, occupies every unit of spacetime but has no mass.. it will be given the symbol FRN.
I didn't know they lost it. Come on, I had to say it.
Yes, it was in WTC7.
Probably the best spot available to insert this anecdotal update on the fallout of Fukushima from Al Jazeera:
http://www.youtube.com/watch?feature=player_embedded&v=IBkrIgJUWLk
Thanks for posting. Wow. I'd like to think I would have left already, but leaving isn't easy.
Battered nuclear reactor syndrome.
That really works. I was thinking that my job pays well and if I was uncertain if I could get a good job elsewhere, I might make bad decisions. I hope not, but...
The woman's daughter in the vid... do you leave and have an exceedingly uncertain financial future, or stay. I hope I would leave and be happy to be homeless, in a tent, trying to reinvent myself somewhere. I may not be able to do it. But seeing your kid sick like that, man. I think I would go. Very apt term you created there. Denial. On going abuse. Feel powerless to cultivate opportunities elsewhere. All match up really nice.
Yes, shift all the blame to a physics science project. It could never have been due to central planning by an oligarchy who's trying to increase it's power, and irradicate any opposition.
You do know where CERN is, don't you?
They'll claim a black hole ate the gold.
I understand they are rapidly building one in Fort Knox, KY.
Are you CERNtain about that?
If I can't handle PUNishment, I should not give it out, eh*?
*No puns were created or harmed in the making of my post.
We are safe anyway. Every time see equities tank, gold might tank by half as much
(i.e.: http://www.marketwatch.com/)
ANd when equities tank that good ole age-old money we call gold buys more of them, and more commodities as well.
Gold holds value. You're still viewing it as an investment. It's money.
In the end we're all dead. right now "Mr. Wisdom" had to say "there are significant downside risks in the economy"; MarketWatch says "Fed Spanks Stocks"; Jesus, Mary and Joseph; We pay this guy? Whose side is he on. Cost me $16,500. I guess I better go back to my old idea that stock market people are all crazy and stick to commodities; boy they sure act like they're crazy.
Good news IQ guy:
IQ is not required to make money in the stock market.
IQ is not required to lose money in the stock maket.
Bad News?
You didn't have something as simple as "inside information" in order to make a succesful trade...which actually makes you a dumb ass gambler like everyone else.
well said, there are no markets, only con jobs
I saw it coming.
2 drug dealers are arguing over a debt.
The debtor drug dealer says 'I'll have the payment tomorrow'
Then he shoots the creditor drug dealer in the face.
Can you see it now?
IQ - you traded the obvious TA on your Dec futures position. If it were that easy to make the $$$, there would be no end. Something to consider next time.
Makes you clueless when you try to look at the logic of it all, doesn't it.
Sage: invest in the long term. If you want a quick bet, short term gamble when you are one of the few who know it's still Summer, and you're betting on cooler weather just ahead.
Your TA analysis that you told us about was intelligent. But like we told you at the time, it was prey for the BOTS and their little algo devil elves.
He will print, because in reality he's just doing what he thinks will benefit one Mr. Bernanke. Per the Fed:
"The overwhelming majority of Bernanke's holdings are in his TIAA-CREF account, a retirement plan for professors at Princeton and many other universities.
His Fed filing shows that at the end of 2004 his TIAA-CREF account had a net worth between $1 million and $5 million, and produced income during the year between $15,000 and $50,000. Details about his investment choices within that plan were not available."
Of course he also expects a nice job at Goldman as a consultant while he pretends to continue teaching after he leaves the Fed, and we all know what Goldman wants.
Ummmm.... Negative real interest rates anyone. Even in deflation (its stagflation) gold is king.
next up the money changers......when the dam breaks.......then print........patience they still haven;t gotten everything thats nailed down quite yet.....
Please point out a single period greater than 18 months during which the price of gold or silver fell as a result of deflationary pressures in a fiat system.
Just one, in all of human history.
Deflationary crash after a HUGE inflation in debt based assets - Equities - Bonds - Property will see money flowing into metals.
The cash has been created and is out there it will flow into the dead metal. Look up Inverted debt pyramid by Exter.
GAME OVER 5-8 Years max.
Watch M1 and M2 instead.
the action is in M3, but they don't publish it anymore.
Central Bankers are out of bullets. They should have saved the last one for themselves.
Not to worry. I have plenty --- 9mm 5.56 7.62. They just need to ask.
Each day we get closer to collapse. You don't need a degree from Princeton or the Chicago School. You can just feel it coming.
"The people in charge don't know what buttons to push."
--WSB
@ iNull
Before anyone referred to it as a "collapse", it was called a "Minsky Moment" after the work of Hyman Minsky and before that it was Kondratieff Cycles. Yes, I feel the chill of this financial winter that is harshly upon us.
ha ha, the ones with Princeton and Chicago degrees would never sit it coming.
Yes, they fuel the delusions of entire societies--they control the wealth, and you think they're out of bullets?
Naive.
Enjoy that sense of power while it lasts. Some central banker bitchslapping is coming your way really soon.
We ain't nothin' but serfs, nigga.
"....tap the special kitty"
Nice.
nice kitty? sorry
it's called tapped out
Kitty porn?
I'm not paying for this shit.
I am with the Rodent on this one, Obama and his cronies have it all figured out, the plan will work as long as the US tax payer is willing to take it in the ass.
Message to Obama: Jesus still loves you..........Everyone else thinks you suck at playing president.
But he don't love Jesus.....................
Knukles, - oh well, but Jesus still loves him .... Isn't that just a bowl of cherries.
I'm still at a loss why Japan, Germany, and the U.S. can't simply print their way out of this morass with interest rates at rock bottom and commodity prices in decline.
Seems easy enough, just turn on the presses, print, and start handing out money.
This oughta be good.
If they wanted to give the people money, they'd just abolish the IRS. That would be a sure fire and efficient way to get employment up, shed the government off our backs, and get real stimulus in the economy.
If that was the goal, then it is achievable. But as long as the FED is there in the way, and we still have the IRS enforcer, you can forget it. Curtains closed. Lights out. Sheople go bah bah bah bah. Feed me please. And so on and on and on and on. Sad state of affaris, even this last FED mtg fiasco, Wall Street expected lots more Kool Aid from the Fed. Feed me please.
Someday, those of us with any real balls will have to go out in the shed and grab the pitchforks and our rifles. Right now, we're all pretty much just waiting for the next guy to do it.
It will start with small but collective riots and then grow. Similar to the Vietnam protests, for those of us who remember that galiant revolution of youth.
Good question!
Really?
By merely asking that question one demonstrates their ignorance of what money is. Without a (sarc) tag that question is NOT a good question in this forum.
Q.E.D.
@Robot
Believe it or not, it doesn't actually work that way. Good luck to all the momo chasing bulltards out there who've relied on the Greenspan/Bernanke Put, especially these last two and a half years.
in time
in time grasshopper
If Germany prints, the Europeans head for the United States. They won't leave their wealth in Euros. They won't go to China or Russia.
The United States only needs to print at a quick enough rate to replace all fiat currencies in the First World. If the EURUSD drops too low, there will be a panic out of Euros and into something safe... most likely USD.
Now *that* is an interesting end game. Fed prints the razor's edge until the FRN is the last fiat standing, and the world's sole currency. No one has that kind of ability- but it would be beautiful, in a sick kind of way.
Benanke would have earned his place in history with that one.
But, back to reality- that's just not going to happen.
I don't buy the 'razor's edge' argument. It is not so much a factor of Bernank's "ability" so much as the unrivaled hegemonic "positioning" of his weaponry (dollar). *That* is what is interesting and "beautiful, in a sick sort of way." Witness our rates drop the rest of the world boils in riots, regime change, default, and soviet style economic collapse.
Prometheus, that is the game. He who is last standings wins. Why do you think the Bernank let the world burn? Even thought the US is screwed, we do have several advantages to keep us afloat as rest of the world sinks. Mass default bitchez!
Can I give you Confederate money for your gold?
No?
That's why it doesn't work.
Wha? Print more of what? In the forex game, don't people chase the least ugly option? Currency depreciation lasts only so long as people rapidly move onto the next best thing, as a result of currency depreciation. You're decribing a short-term fix that creates greater issues to contend with in the not-so-distant future; especially these days when EVERYONE monitors fiat exchange on a millisecond basis
I thinik you are correct in some sense. If he was going to print, or able to print enough, he would have announced it. The Royal Bank of Canada has admitted that the global derivative exposure is 450 trillion nominal .
The international bankers do not even know if there are unintended consequences to trying to fix this problem, let alone think they can just print without consequences they do not forsee.
I call deer in the headlights nervously adjusting their stance in order to take a hit that they do not even have an inkling of how powerful it will be.
If they thought they could print enough to cover, why have they not just done so?
I'm still at a loss why Japan, Germany, and the U.S. can't simply print their way out of this morass...
Germany tried that back in the Weimar days, and as I recall it didn't work out so well.
Welcome to the 21st Century, where Germany is no longer an occupied state laboring to pay impossible war reparations.*
*They made their final payment last year!
The problem is that they have run of debt slaves.
It's a matter of DIRECTING THE FLOW OF THE PLAY MONEY.
PROLES CANNOT SPEND IF THE MONEY DOES NOT GET TO THEM. MONEY IN COFFERS != MONEY IN THE HANDS OF THE MASSES.
Print and print and print and print more: none of it matters if you're shoving it up the assholes of the upper crust and none of it ever sees the middle and bottom.
because reckless printing bankrupts the poor and middle classes
you don't understand why buying down bond interest rates with unlimited printing is a bad idea?
I guess if everything was that simple RotoTraitor then your "all in at Dow 12,700" call would also be profitable?
Shit was not getting more expensive...the currencies used to buy shit (including the Dow at almost 13,000) were worth less.
Look up "fiat money" to see who killed Colonel Mustard in the printing room....
I guess if everything was that simple RotoTraitor then your "all in at Dow 12,700" call would also be profitable?
Shit was not getting more expensive...the currencies used to buy shit (including the Dow at almost 13,000) were worth less.
Look up "fiat money" to see who killed Colonel Mustard in the printing room....
Ding!
Jesus H. Fucking Christ on a Crutch!
That's what they're doing!
Where have you been all my life? Just what I need. A dumb as a fucking rock big tittied steaming hot momma.
They dont have anywhere NEAR the amount of capital to save those sovereigns when the dominos start falling.
Leveraged 24-36:1 ??? Not a chance in Hell they can save that when it goes.
Panic. IMF are hopeless a-holes. EZ will still get fat swaps to banks via the FED, otherwise nothing. The global economy is collapsing a 3way EZ/US/China. We had two weeks or panic buyups (stocks) now panic selling across the board. Till the bottom, where ever that might be...
This time we take the pain.
Remind me why silver is not at $70.
sssshhh dont startle the pigeons
It has a lower oranamental comelyness than gold. It is not as easily assayable as gold. It does have commercial value in mirros and integrated circuits, but if the TSHTF nobody is going to have the time or expretise to gauge whether an oz of silver is worth a sack of potatoes.
< oz of silver = Sack of potatoes, or
< oz of silver = Field of potatoes
Gold buys you a trophy wife.
Silver buys a night at a brothel.
Pay by the piece, or pay for the rest of your life.
Silver it is, Bitchez.
Rent don't buy
Never buy anything that flies, floats, or eats.
Lmao. That was an ( Intuitive comment).
Trophy wives are horrible.
If we're going to be comparing trophy wives to brothel harpies, always the harpies. You're never legally or socially obligated to the harpies. And in the long run, they cost lest.
Absolute truth.
If you have to buy a woman to get her, you have to keep buying her to keep her.
Only pain waits at the end of that road.
Some of us make our own money and split the bills with him. We look for a partner, not a Daddy, sugar or otherwise.
The moment they design a robot-wife with a built-in microwave and cooler, you women are so through.
The aliens won't conquer us with weapons. They'll just give us free fembots and let us die off from not breeding.
No kidding, Rodent! I used to wonder why divorces cost so much. Then I went through one and realized they cost that much because they are worth it.
One of the greatest comments ever said about women was made by Charlie Sheen no less.
When asked about his frequent interactions with hookers the interviewer said," Look Charlie, youre a great looking guy with lots of dough, why on Earth would you need to pay someone to sleep with you?'
To which he replied, " I dont pay em to sleep with me, I pay em to leave afterwards."
Brilliant
Since we are having an actual fight club kinda day/night around here, have you ever dug a Field or even a bag of potatoes?
I have! I dug some up just this afternoon! Not a bag, more like half a peck.
I can tell you -- it is easier to plant, weed, water, debug, and dig up a 100 foot row of potatoes (German Butterball) than it is to find an ounce of silver.
"It has a lower oranamental comelyness than gold."
Lies, I tell you- LIES!!!
Gold just doesn't tarnish and is 16x more rare, give or take.
The comelyness is just a matter of taste- personally, I don't care for the look of gold. My personal favorite from my stash is a silver peace dollar that is tarnished almost black- except for a wavy, shiny cone shape that looks like it is radiating from Lady Libety's eyes. No idea how it got that way, it's just neat to look at.
Far more interesting to look at than a pile of gold that is always the same color, IMO.
:-)
Because it's not March, 2012; go back to sleep for awhile.
It is expected to be largely replaced by an agreement reached late last year by the fund's board of directors to increase quotas, the share of contributions that each member must give to fund IMF lending...
FORK IT OVER BITCHEZ!
Just sayin hi buzz .
Hey, if we can be the world's cop, then why can't we also be the world's banker too? It should be easy enough for Uncle Ben to handle that and make life better for the whole world. <sarc>
If they don't print, the credibility of the FRN and UST paper go to hell with the US economy: falling tax revenues to service compounding debt obligations. States and locals will come down like a heap of shit as economic activity continures to collapse. You can't refi you mortgage to 4% if you don't have a job and your current mortgage is upside down (neg. equity). The end of the fiat regime is at hand, sooner or later: sooner if they don't get the spice flowing, later if they do. Gold and silver will be just fine in either scenario. Hold physical and chill.
Couple of drinks and everyone should see clearly. The chamber is empty.
Yeah don't stress on gold or silver. You get a panic, monies will go into both, but mostly Gold. Looking at 2000 end yr.
water polo?
http://en.wikipedia.org/wiki/United_States_women's_national_water_polo_team
"..is it me, or is this pool always getting deeper?"
preferably
http://in.reuters.com/article/2008/08/21/idINIndia-35109620080821
Your old avatar is back! I like it.l
No Comment! Keep up the good work!
i want to tap the special kitty.
no wonder DMK carries on the way he does,
Taylor do you have asian cds? See if anything is safe
Some people are acting as if the no LSAP announcement means there was a change in the laws of physics that dictate human behavior and fiat currencies.
Nothing changed today. The US dollar is going down a dead end street that's too narrow to turn around.
Bernanke will print soon enough when GDP growth goes negative. You will have a chance to load up on gold, silver, and other commodities before that happens.
***Serfs around the world, wake the f*** up, the end game is nigh and the big boys know it!***
Of course they're not going to help; it is every nation for itself => Did you IMF fools actually believe that crap Bernake feeds the public?
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It used to be that corporate raiders took over a company; now, they just become it's CEO, run an asset/stock/go private-flip to public/etc. scam & leave the wreakage to the next raider.
Our politicans have learned from that example, and they're doing that to us now.
Can't this shit wait 'til after Christmas. I want a new x-Box goddammit.
Everyone on my Christmas list is getting a handmade card that says, "fuck you, I'm broke too".
Just them a card that states that you made a $250 contribution in their name to 'The Human Fund.'
Make sure you write it off. Thats what bill and waren do when they take bubble baths together.
The problem now is that if/when he does print it will be in response to euro armageddon. The boost will only serve to lift equity markets back to these levels, at best. Munis will still drown, unemployment still skyrockets... Know this will piss a lot of you off but I out of a sincere liking for most of the folks here and respect for their intelligence I think you should consider that it could be quite a while before velocity picks up--in other words, inflation seriously delayed now. I'd agree with you on the continuation of the fear trade except that it hasn't been working the past two times the market has shit the bed. It's either manipulation or everyone is selling pms to cover their losses. Either way it's Crippled the fear trade somewhat. I know some of you don't care about the intermediate term and will hold physical until they pry it out of your cold dead hands, but for those of you looking to generate pm trading profits this year, im politely suggesting be cautious and don't get blinded if the gold/silver trade starts unraveling...
i guess that all depends if you measure 'profits' in fiat, and which fiat at that.
so get out and get back in again before it does? too risky, too little reward- too great a risk- for my taste, at least.
Nice post. Keep posting, your insights are valuable.
Michael Pento from King World News:
“In addition, Bernanke has now gone on record as being a master prevaricator. He claimed in his statement that inflation pressures have abated through the course of 2011. Here’s a quote from his statement: ‘Inflation appears to have moderated since earlier in the year as prices of energy and some commodities have declined from their peaks. Longer-term inflation expectations have remained stable.’ But the data set from the Bureau of Labor Statistics conflicts Bernanke’s contention that inflation rates have moderated. Year Over Year increases in the CPI have gone from 1.6% in January, then rose to 3.2% in April and have increases by 3.8% in the 12 months prior to August. Can you tell me what he is talking about?”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/21_Mi...
Now here is a proposal - I set up a new 'GREEN' company called - let's use SOLDINTO & hire everyone in the US - I request a loan guarantee of 571 Billion and pay each of them approximately 1.8 million (will make exceptions not to pay Buffet & crew as well as anyone in the Judicial, Executive, and/or legislative branch of the US government) with the stipulation that they use the proceeds to eliminate their debt...then SOLDINTO will declare bankruptcy (never has such a fiendish plan could be concieved & executed such as this)...Then I will call Helicopter Ben, John 'just let me cry awhile' Boenher & Harry 'Flippin' it' Reid & tell him to balance this bitchez!
Umm, that would be 1.8 thousand I think.
Try 571 trillion. Shouldn't be too hard a sell.
'The IMF managing director must first make a special request to tap the special kitty.'
Room service? For IMF Head? Declaw her and bring her to me....
How about buying local real estate from distressed banks?
There are sales in my neighborhood (50% off 2007 highs).
Just have to hope the renters will be able to pay ongoing.
"New arrangements to borrow" - in the public eye.
Meanwhile, what is happening in the back channels?
The other day - I think it ended in 'day -
I was on my way to de play.
"This is gonna be a good life."
Was playing with my headlice,
Coke dripping down my throat,
Colt-gripping fuckhead: you're a joke,
When someone - I think he meant 'corps'
Like m' bro' - he went Corps - lost in 'nam
'66 'vette, 21, all those years ago.
You take corps,,,,add a vowel - fuck you Vanna -
Fuck you ess aye...I think he meant it.
Do you feel it? I wanna wake you from your dream:
CPI, GDP: how's your dangling alpha-wave now?
We're like good times that haven't happened yet -
And won't. To the sea, Zero, to the sea.
Never Hedge. Take off your raincoats, rapists.
It never made any sense, where all the money came from. Some dickhead you lapped in 6th grade was pulling up in his natty Lyman cruiser decked out with 6 - or was it 8? - double D's racked from starboard to hardboard - pass the chips - how you been? Made a killing in CDS back in '08 -
Does anyone remember Rusty?
Do you feel it? I wanna wake you from your dream.
a em strong cite code uo ol li dl dt dd style sub sup quote p style br acronym blockquote span br/
i love this shit
I wanna wake you from your dream.
Wake yourself.
GLD a little crowded? Better fade that open tomorrow if you get it up! By the way everyone in this blog bashed anti-gold people it must be putting in a NFLX type top. Damn, you even have the fast money guys on CNBC long it. Again, the more down arrows mean I am right. I am flat, just objective.
GLD a little crowded? Better fade that open tomorrow if you get it up! By the way everyone in this blog bashed anti-gold people it must be putting in a NFLX type top. Damn, you even have the fast money guys on CNBC long it. Again, the more down arrows mean I am right. I am flat, just objective.
GLD is not gold. GLD is just the first cousin of fiat money, and one day people will discover that GLD is in a bubble. Not gold, however. Just a hunch, but I bet you believe that the World Trade Centers collapsed due to burning jet fuel. Please tell me that I'm right on this one.
A NFLX type top?
Objective my ass. Gold is on a 11 year bull run. Are you really that fucking dumb to compare the two?
Gold may jump around a bit, but none of the reasons it has made it this far have changed (decaying value of printed money + difficulty in decaying value of worldwide gold supplies due to mining constraints). Untill a radical new gold extraction process is invented or central bankers jack up interest rates to 15% and keep them there - gold keeps rising. This bull is particularly awesome due to the fact that some radical changes to the way the world works are needed to stop it. These changes run counter to the interests of much of the worlds establishment so they will arrive very slowly. BOP - sit back and relax- we will do very well for many years by staying put...