• 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...

Lehman Weekend Redux?

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Sat, 09/24/2011 - 11:29 | 1705101 daily bread
daily bread's picture

heating up the grease for some french fries

Sat, 09/24/2011 - 11:39 | 1705132 Earl of Chiswick
Earl of Chiswick's picture

 I hear that the exec dining room at MS has some of the best french fries in town

Sat, 09/24/2011 - 12:00 | 1705197 nope-1004
nope-1004's picture

Geithner = Liar.

Banks = Insolvent.

Silver & gold had to be smacked - something contagious comes this way.

 

Sat, 09/24/2011 - 12:02 | 1705218 JLee2027
JLee2027's picture

They wouldn't let the banks go under and I'm beginning to wonder if they just won't allow Greece to announce a default, even when they go into default.

Sat, 09/24/2011 - 12:30 | 1705296 nope-1004
nope-1004's picture

For anyone wondering about who some of the trolls may be, this video is quite shocking.  I'm sure Tyler has the same tracking ability.

http://www.youtube.com/watch?v=eWYW0H7-c_w

Good bye Bank of America!!

 

Sat, 09/24/2011 - 12:47 | 1705333 DeadFred
DeadFred's picture

I feel stupid. I've been calling out these trolls for working for JPM and I got it all wrong. Sorry for that trolls.

Sat, 09/24/2011 - 14:36 | 1705666 Fish Gone Bad
Fish Gone Bad's picture

Just one more reason to hate banks.  Maybe its time to move money to a non-insolvent credit union.

Sat, 09/24/2011 - 14:54 | 1705721 gmrpeabody
gmrpeabody's picture

We did just that, and it FEELS great!

Sat, 09/24/2011 - 15:02 | 1705741 FranSix
FranSix's picture

Your money IS SAFE:

http://money.canoe.ca/money/mymoney/canada/archives/2011/09/20110923-153605.html

ergo a run on the banks is imminent.

Sat, 09/24/2011 - 15:40 | 1705810 dlmaniac
dlmaniac's picture

I remember two weeks ago I said "expect an outta nowhere sell-off in gold & silver engineered by CBs b4 Greece SHTF", and I was junked by several posters. Look what's happening now.

Sat, 09/24/2011 - 15:45 | 1705821 FranSix
FranSix's picture

You get a get-outta-junk free card!!!

Don't let on to anyone that engineered sell-offs actually liquify an illiquid bullion market.

Sat, 09/24/2011 - 15:49 | 1705832 fonestar
fonestar's picture

I expected the same.  May as well give that spring one good last twist before they catapult us to the moon! 

Sat, 09/24/2011 - 17:41 | 1706034 Michael
Michael's picture

With whose money are they going to re capitalize the banks?

With Rothschild's money?

Sat, 09/24/2011 - 17:53 | 1706047 oogs66
oogs66's picture

i don't even mind if they use taxpayer money, so long as they get better terms than even Warren Buffett got.

Sat, 09/24/2011 - 20:03 | 1706303 FiscalCrater
FiscalCrater's picture

copper==2.67==1 can Spam.  Coincidence? I think not.

Sat, 09/24/2011 - 20:15 | 1706326 AldousHuxley
AldousHuxley's picture

The same police brutality brotherhood gets indicted for ticket-fixing

 

http://www.dnainfo.com/20110919/manhattan/ticketfixing-indictment-looms-...

 

 

Sun, 09/25/2011 - 00:38 | 1706722 Frank N. Beans
Frank N. Beans's picture

French fries

Greece fries

hey, if everyone keeps tagging on to the first poster's comment, like this, these comment boxes are going to get REALLY skinny. But what the hell. 

Sun, 09/25/2011 - 06:17 | 1707016 Shvanztanz
Shvanztanz's picture

that

's

ridi

cul

ou

s

Sun, 09/25/2011 - 06:19 | 1707017 Shvanztanz
Shvanztanz's picture

Geithner is in talks with EU to deliver 1.7 trillion cubic centimeters of comment box space to EFSF

Sun, 09/25/2011 - 10:10 | 1707300 Pool Shark
Pool Shark's picture

 

 

No way that's going to be enough space...

Sun, 09/25/2011 - 10:10 | 1707304 Pool Shark
Pool Shark's picture

 

 

See what I mean?...

Sun, 09/25/2011 - 10:25 | 1707333 Pool Shark
Pool Shark's picture

 

 

Uh, oh. We need a bailout...

Sun, 09/25/2011 - 10:26 | 1707337 Pool Shark
Pool Shark's picture

 

 

Kinda like deficit spending...

Sun, 09/25/2011 - 10:27 | 1707339 Pool Shark
Pool Shark's picture

 

 

Diminishing returns...

Sun, 09/25/2011 - 10:27 | 1707343 Pool Shark
Pool Shark's picture

 

 

Diminishing...

Sun, 09/25/2011 - 10:28 | 1707346 Pool Shark
Pool Shark's picture

 

 

Diminishing...

Sun, 09/25/2011 - 10:28 | 1707348 Pool Shark
Pool Shark's picture

 

 

Diminishing...

Sun, 09/25/2011 - 10:29 | 1707351 Pool Shark
Pool Shark's picture

 

 

Diminishing...

Sun, 09/25/2011 - 10:30 | 1707352 Pool Shark
Pool Shark's picture

 

 

Diminishing...

Sun, 09/25/2011 - 10:30 | 1707355 Pool Shark
Pool Shark's picture

 

 

Dimi...

Sun, 09/25/2011 - 10:31 | 1707356 Pool Shark
Pool Shark's picture

 

 

Di...

Sun, 09/25/2011 - 10:31 | 1707359 Pool Shark
Pool Shark's picture

 

I wonder if this is how they create negative interest rates...

Sun, 09/25/2011 - 15:51 | 1708331 floyd084
floyd084's picture

It all fractals down. We must continue until we hit sub Planck length.

Sat, 09/24/2011 - 22:31 | 1706556 JethroBodien
JethroBodien's picture

My God think of the fallacy the entire monetary system is build upon.  How can we ever expect to pay back all the money owed in a fractional reserve monetary system (leverage) that also includes interest.  Of course the answer is you can't.  This great lie/ponzi scheme ultimately benifits the few.  This farce will continue until it doesn't.  It's a mathamatical certainty.

 

Sat, 09/24/2011 - 21:13 | 1706419 lynnybee
lynnybee's picture

 +100  /  yea, Michael !

Sat, 09/24/2011 - 18:23 | 1706095 Ag Star
Ag Star's picture

You were hardly the only one predicting a beat-down in PM's, especially silver.  A lot a people were and those of us who own physical will get in on this sale while the getting is good.  THERE IS NO LIQUIDATION OF PHYSICAL METALS, sell off in "PAPER" due margin reqirement hikes!!  Don't start psychic hotline just yet:)

Sun, 09/25/2011 - 02:17 | 1706825 Aeonios
Aeonios's picture

Speaking of getting in on the PM sale;

http://silverdoctors.blogspot.com/2011/09/local-coin-shop-open-thread-an...

Koin shops countrywide (probably worldwide) have either sold out of silver or are refusing to sell at the unicorn price.

Gold doesn't seem to have been affected, probably because $1600 is still a whole lot for one koin.

Sat, 09/24/2011 - 16:02 | 1705863 Dave Thomas
Dave Thomas's picture

Everyone on this site should be with a local credit union. Anyone who has been "Awoken" for any length of time about the banking system has no business doing any business with the heinous money center banks like BAC, JPM, WFC, etc.

I chat with folks who are supposedly in the "know" and give them hell when they pull out their JPM debit card.

They tell me it's because of "convenience".

Sat, 09/24/2011 - 16:13 | 1705885 HoofHearted
HoofHearted's picture

You're thinking about it all wrong. JPM gave me a 15 months now interest credit card. I used it to buy Morgan dollars and ASEs...I also get some incentives from JPM. Use their credit to help their short be a bigger problem...

Sat, 09/24/2011 - 16:29 | 1705907 AmazingLarry
AmazingLarry's picture

Exact-a-reno. I've ran at least $20k though mine. Just don't lend to them by having any form of savings or checking.

Sat, 09/24/2011 - 16:39 | 1705922 Moe Howard
Moe Howard's picture

Both of you are allowing them to create money based on your credit with them. They don't care about interest when they make the money up out of nothing.

Sun, 09/25/2011 - 09:43 | 1706148 BigJim
BigJim's picture

They do care about interest, because when the principle gets paid back it vanishes back into the nothingness whence it came.

Why do you think there's a deflationary problem for the banks?

Sat, 09/24/2011 - 19:05 | 1706151 BigJim
BigJim's picture

Everyone on this site should be with a local credit union. Anyone who has been "Awoken" for any length of time about the banking system has no business doing any business with the heinous money center banks like BAC, JPM, WFC, etc.

I keep hearing this... but don't credit unions operate on a fractional-reserve basis as well? Much as I loathe the big banks, it's the underlying monetary system that's the problem, not the players it enables.

Sat, 09/24/2011 - 23:02 | 1706605 DeadFred
DeadFred's picture

I have four cards and the order they get used is CU>Discover>Citi>JPM. The CU card has the worst terms (kickbacks) but I don't like trucking with the devil.

Tue, 03/20/2012 - 08:50 | 2272726 l.hauri
l.hauri's picture

it is good for you. I really like this approach. Great job!
yacht charter greece

Sat, 09/24/2011 - 20:29 | 1706355 eaglefalcon
eaglefalcon's picture

why credit union?  My mattresses or a hole in my yard is a better option to keep my money.  I started to withdraw cash from bank a few weeks ago.  I can tell the amount of cash in their vault is ridiculously small, sometimes they can only give me 20's instead 100's.  Banks are all bluff, all the freedom loving people of the should start the run already.

 

 

Sun, 09/25/2011 - 01:47 | 1706795 Floordawg
Floordawg's picture

Wish we had CU's in NYC. Unfortunately I have yet to find one that allows membership for someone thats NOT in the Blue Man Group.

Hmmm? Wonder why there's none here?

Sat, 09/24/2011 - 17:18 | 1705993 seek
seek's picture

Well -- move savings to PMs. Operating money to a credit union.

Only downside to the credit union? The tellers aren't as hot. I guess I shouldn't be surprised the banks were playing the sex appeal card.

Sat, 09/24/2011 - 17:58 | 1706053 Captain Planet
Captain Planet's picture

Like all those ''CanadaÄs best kept secret'' adds here on ZH. 

It ain't the timber, stoopid!

Do NOT follow this link or you will be banned from the site!