The US Paper Dump Continues: Norway's Sovereign Wealth Fund Sells All Of Its US MBS Exposure

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Sat, 10/29/2011 - 12:22 | 1824281 EscapeKey
EscapeKey's picture

And some more color on the fund administering the trade surplus of what some consider Europe's best run country:

It sort of helps sitting on - considering the population size - vast energy fortunes.

The story behind how they got them all includes an alcoholic Danish foreign minister, and a Norwegian summit, where he was liberally plied before signing over all the major fields.

Sat, 10/29/2011 - 12:32 | 1824304 Yellowhoard
Yellowhoard's picture

Copy that.

Countries with large natural resources relative to the size of their populations will be the relative winners in the global meltdown.

Sat, 10/29/2011 - 12:56 | 1824322 DormRoom
DormRoom's picture

uhm. you're sort of wrong.


When stagflation & hyperinflation hits, there will be no shelter.


Commodity based nations, like Canada & Australia will experience severe Dutch disease, as inflows into their currencies, as an inflation hedge, destroys the manufacturing sector.

massive layoffs will ensue.

And as prices climb, but not output, commodity based, developed nation will be entrenched in accelerating stagflation.  There is no escape.  Social society will begin to collapse.  In the US  muni wont' be able to  sell bonds.  Munis go bankrupt, or are forced to cut emergency services.

Even if you hold physical gold in the US, you are not safe.  There will be massive breaking & entering of homes as people try to salvage exchangeable physical goods.  And there will be no police force to enforce the law.


California will be the hardest hit, as their Million+ prison population, begins to be a bigger burden.  And if it collapses, you'll have criminals flooding out, exasterbating the bedlam.


And if you keep gold in a bank, the government may confiscate it.

Phenemologically, a fiat currency system is an exchange system of trust.  So if the fiat currency system collapses, it necessitates a collapse in trust throughout civil society. Without trust modern exchange mechanisms break down. And the ramifications are many.


let's have no illusion.


Sat, 10/29/2011 - 13:01 | 1824356 peekcrackers
peekcrackers's picture

 umm  your sorta  wrong .. no YOUR JUST PLANE WRONG !

Phenemologically, a fiat currency system is an exchange system of trust.  So if the fiat currency system collapses, it necessitates a collapse in trust of civil society. Without trust exchange mechanisms break down. And the ramifications are many.

and that is why people threw out time have held silver and gold .

That is why china told all they're people .. buy silver and gold vs Rsp

this is why central banks horde silver and gold.

the dollar was a derivative from silver and gold  ( bretton woods system)

why do you think the first plundering of any counrty the U S invades is silver and gold.

Just so you know if you realy want to own your land in Canada , you can ask the CRown to buy in silver or gold.



do you see a pattern ?

Sat, 10/29/2011 - 13:02 | 1824370 trav7777
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the pattern I see is your misspelling of at least one word in every sentence you write.  People who cannot write properly just plane[sic] have no credibility

Sat, 10/29/2011 - 13:11 | 1824390 Mr Lennon Hendrix
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Spelling does not make or break rationale.  Grammer, logic, absolutely.  But just because I can't remember which words have double consonance, and just because I can't remember which vowel to use, does not make me any less intelligent from someone else.

It just means I did not read much in HS.  I apologize for doing drugs, drinking booze, playing sports, filming movies, having fun while copying my homework from the girls in my classes, and chasing that same skirt while I was younger.  If I could go back in time I would have not flunked out of econ and lituratuare, but until you find a time machine to make my scripting complete, you will have to deal.

Sat, 10/29/2011 - 13:24 | 1824415 disabledvet
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Grammer? Is that Kelsey Grammer? Or is it Kelsey's Grammar? Perhaps it was a book? "No, just some tripe." I thought tripe was a bird? "It's a fish." Who gave you the bird? "No one gave me anything." Shut up and eat your pee.

Sat, 10/29/2011 - 13:37 | 1824447 MillionDollarBonus_
MillionDollarBonus_'s picture

Zero hedgers need to grow up and stop arguing about meaningless issues. The real question is HOW ARE WE GOING TO BOOST AGGREGATE DEMAND? Every American needs to do their part to help this consumer economy to make sure these doomer hypotheses don't come true. Why not be productive and spend some time in the mall rather than fantasizing about these doomer scenarios.

Sat, 10/29/2011 - 13:42 | 1824453 Mr Lennon Hendrix
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Boost demand.

Buy silver

Sat, 10/29/2011 - 14:02 | 1824484 DoChenRollingBearing
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Buy gold too.

Sat, 10/29/2011 - 14:09 | 1824504 Pure Evil
Pure Evil's picture

Don't forget to include copper clad lead in your investment profile.

Sat, 10/29/2011 - 14:27 | 1824546 Long-John-Silver
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Don't forget food. You need a years supply for each person that will shelter with you. Also remember that you need family or true friends for one simply reality. Someone needs to be awake and watching evey moment of the day and night.

Sat, 10/29/2011 - 15:05 | 1824614 AldousHuxley
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During times of social collapse: Guns > Food > Gold


There isn't much you can't rob with big enough of a gun.



Sat, 10/29/2011 - 15:13 | 1824635 Mr Lennon Hendrix
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I really don't agree.  I don't think there will be a collapse like some others see it.  I think we will come together to form a better society than the current one.  Sure, guns will play a large role, but people will band together to form community.

Sure there will be bad guys/gals, but the good guys will have guns.  And I don't think people will be running from house to house robbing people of their wealth, that would take too much energy for almost no benefit.

I mean come to my house; if you are unfriendly, you will be met with gunfire, and I don't have any gold or silver anyway.  This will stop people from stealing.

And I will be buying ammo and guns with gold.


Sat, 10/29/2011 - 15:25 | 1824655 Jeff Lebowski
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Sat, 10/29/2011 - 18:58 | 1825214 AldousHuxley
AldousHuxley's picture

I' like to modify....



guns is no good when you don't have a trigger finger.

Sat, 10/29/2011 - 18:54 | 1825206 AldousHuxley
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Sure there will be bad guys/gals, but the good guys will have guns

In times of crisis, there is no good or bad...just survival mentality. And right now military has guns. Thus, most shithole countries in Africa are led by military leaders. Nice good girls are not in the military my friend.  They are professional killers who have killed before and also probably find killing fun thus interested in military to begin with not normal civilian life.


And I don't think people will be running from house to house robbing people of their wealth, that would take too much energy for almost no benefit.


That will be a necessity as stores of wealth will be ransacked so thus cannot exist. Only way to sustain would be to rob place from place. That's why even missiles won't be useful when you have 1000s eating the corn in the farm field. You can't fire the missile to destroy the farm. So light mobile weapons will be useful for disorganized pirate style living.

I mean come to my house; if you are unfriendly, you will be met with gunfire

You can't shoot fast enough to protect any assets like a house. USA has 300,000,000 people. Dozen will come to your front door, while dozens will steal your food storage at the same time.

And I will be buying ammo and guns with gold.

Gold becomes a liability. You need to hire teams of people with guns to protect it. and sooner or later you have to engage in trade when you run out of food. But trade routes will be controlled by mobs with big guns taxing you for protection fee.


BUT by this point, life is hopeless anyways. It is no longer life but hell on earth. Maybe George Bush wasn't so crazy about space program to MARS.







Sat, 10/29/2011 - 22:09 | 1825516 Mr Lennon Hendrix
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I have faith in community.  I think we will band together more than we will fall apart.  I do not believe the government will be able to keep its foothold on the world political scene, and like many governments before it, I think it will fall to the wayside.

I think the world will be able to make it along without government, and we will band together in communities to do so.  It will be neighborhoods making sure to keep any rioters out.  It should be easy, since everyone is armed.  It will not be so easy for London, etc, as we have already seen.

Sat, 10/29/2011 - 15:15 | 1824637 Troll Magnet
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i'm going to do my part and go buy me a dime bag today and another dime bag tomorrow which will lead to buying a bag of snickers and many, many bags of doritos. 

Sat, 10/29/2011 - 15:20 | 1824644 Schmuck Raker
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Sat, 10/29/2011 - 15:16 | 1824638 Schmuck Raker
Schmuck Raker's picture

Think I'll just go over and impregnate my Mormon neighbor's daughter.

It'll save a lot of shopping time whilst depriving TPTB of the profit opportunity.

Not to mention...

Sat, 10/29/2011 - 15:22 | 1824648 robertocarlos
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That leads to more consumption. I wish I knew for certain if we have unlimited energy or not. The Bible says to spring forth and multiply, and my old shop teacher Mr. Adler says  "stop screwing around".

Sat, 10/29/2011 - 18:12 | 1825095 Schmuck Raker
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"I wish I knew for certain if we have unlimited energy or not."

You'll eventually find it to be age related.

Sat, 10/29/2011 - 14:19 | 1824527 Oh regional Indian
Oh regional Indian's picture

OT, but Highly Pertinent, can anyone whatch this and not want to rip someone's head off? 

This makes so many things irrelevant. And no, it's not about Finance.

It's about Boys Town.



Sat, 10/29/2011 - 13:59 | 1824476 bob_dabolina
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Shut the fuck up

Sat, 10/29/2011 - 14:02 | 1824485 DoChenRollingBearing
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Sat, 10/29/2011 - 15:18 | 1824641 Schmuck Raker
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Does that work?

Sat, 10/29/2011 - 15:30 | 1824666 Pure Evil
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Not in the ZH romper room.

Sat, 10/29/2011 - 14:01 | 1824478 bob_dabolina
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Sat, 10/29/2011 - 18:14 | 1825097 Schmuck Raker
Schmuck Raker's picture

+1 = no insults

Sat, 10/29/2011 - 14:08 | 1824493 Harlequin001
Harlequin001's picture

At times like this I think MDB actually IS the central Bank...

This is just straight out of the CB text book...

The only way you can boost aggregate demand is to create genuine wealth, not debt, which has a very short lifecycle before it stops...

Perhaps the CB's should consider that before printing any more money and undermining my wealth...

Sat, 10/29/2011 - 14:24 | 1824535 Pure Evil
Pure Evil's picture

Hey MillionDollarBonus, how bout I boost my foot up your ass.

Maybe I can't spend much time in the Mall due to the fact that I have to spend all my descretionary funds purchasing $3.50 gas. Or, the fact that I'm unemployed because the fascist criminal corpocracy has offshored my job to southeast asia, or insourced workers from India and Mexico.

Why should I spend my hard earned funds in a Mall that only offers overpriced crap made by chinese slave wage earners. With over 43 million Americans living on food stamps, or millions living in tent cities, and approximately 30 million unemployed, exactly where is the money supposed to come from to buy more 70 in flat screens?

Going to the Mall and buying worthless crap only helps the Wall Street Fat Cats and their worthless paper pushing securities ponzi scheme.

Tell the Retailers to fuck off, buy gold, silver, and lead.

Sat, 10/29/2011 - 14:30 | 1824548 robertocarlos
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You just don't understand the MDB posts. It's sarcasm. Which doesn't work on the internets unless you are familiar with his posts. 

Sat, 10/29/2011 - 14:36 | 1824562 Pure Evil
Pure Evil's picture

Obviously a lot of people don't agree with your sentiment.

But, on ZH everyone is allowed their own special delusions.

My advice, cut back on the Shrooms, and you won't need the tin foil hat to block the radio waves from Obama central.

Sat, 10/29/2011 - 14:36 | 1824563 mjk0259
mjk0259's picture

Funny the first couple times. Now you are just annoying.

Sat, 10/29/2011 - 15:00 | 1824606 Schmuck Raker
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Right away MDB. I'm going out to buy that couch I've been eyeing at my local Ikea.

Because I'm a Patriot, and I'm not as afraid of Arab-American cabbies as I am Deflation.


Sat, 10/29/2011 - 15:06 | 1824617 Mr Lennon Hendrix
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They may take our lives, but they'll never take our armchairs in obscere green stripe patterns!

Sat, 10/29/2011 - 17:39 | 1825011 DosZap
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Why not be productive and spend some time in the mall rather than fantasizing about these doomer scenarios.

 Email me and I will give you my address, where you can send me some CASH, and I will happy and grateful to take your $$$ to da Mall.

It's so easy asking/telling other folks to spend THEIR money/savings.(Your an Obama supporter and voter no doubt).

Sun, 10/30/2011 - 14:00 | 1826442 matrix2012
matrix2012's picture

agree...visit malls more often, consume more to boost the economy, get more credits to prop such consumption... :D

just don't let your plastic cards idle!! Who knows you may get the same treatment as Greek...get a 50% discount some time later :D a fire sale!

Sun, 10/30/2011 - 12:52 | 1826313 bentaxle
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Sun, 10/30/2011 - 12:54 | 1826320 bentaxle
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Sat, 10/29/2011 - 13:18 | 1824404 trampstamp
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So Are you saying Tyler doesn't have credibility? Just this article is riddled with mis-spelled words. Is he not credible? I thought so. Who gives a fuck if he misspelled a few words

Sat, 10/29/2011 - 17:12 | 1824880 earleflorida
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- it's the free-flow-writing,... agglutinated to, comme il`faut, that masters tyler's undulated streams of objective, relevant, and timely   post! - 


thankyou,  tyler 

Sat, 10/29/2011 - 14:13 | 1824513 malikai
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I believe punctuation is important as well.

Sat, 10/29/2011 - 15:02 | 1824607 Mr Lennon Hendrix
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Puncuation is important, as it controls the cadence, and thus, how someone reads.  It is a way to manipulate the readers tempo in such a way that you can control one's thoughts.  Proper puncuation, however, is a non complete, because puncuation is very opinionated.

How should I control my writing?  This is an art, and art is subjective.  Of course, one could puncuate poorly, but for the most part, it is a matter of ploy.

PS, certain rules do exist, like apostrophes and the like, but my point is that most punctuation is for game.

Sat, 10/29/2011 - 14:41 | 1824571 peekcrackers
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The only credibility I need is Gold and silver in my hand.

Spend time stacking  vs spelling.

Sat, 10/29/2011 - 15:18 | 1824642 Troll Magnet
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if you can hold your gold and silver in your hand, YOU DON'T HAVE ENOUGH!

Sat, 10/29/2011 - 14:52 | 1824590 Fíréan
Fíréan's picture

There's seems to be a greater quantity of off topic and pithy replies relative to the series nature of the article to which the off topic replies are posted : the size of the distraction reflects the concerned level of truth. i wonder if the intent is to bury serious on-topic in a blanket of boring crap replies, assuming readers won't bother to scroll down (nobody reads all the replies ) and read informative and agreeable  responses from readers ?

Are the MBS ( mortgage backed securities ) now percieved as a liability ? Has someone woken up to the scam and now concerned that true value of these bonds could be exposed in any litigation, now that law suites are taking off all the place ?

( NB : if i search for the State of Delaware vs MERS artcile it's there, and yet if i scroll back to 10/27/2011 i cannot find it ? ? ? ? )

Sat, 10/29/2011 - 15:09 | 1824626 peekcrackers
peekcrackers's picture


credibility Is to come by then if I use my spell check .. like you .

Sat, 10/29/2011 - 13:11 | 1824391 disabledvet
disabledvet's picture

"there's not enough of it" and "you don't have that gold." you claim "the market will soar" but "the market determines that" not you. the complaint against The Americans is "they're just a nation of farmers." That complaint might be "eaten" pretty soon cuz "these farmers move that food" too. And an another thing: "stop paying government workers" and see what happens. As noted above "that includes the prison population." And on and on and on i could go. Again let me sum my argument up for the upteenth time:

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