tag:blogger.com,1999:blog-76611883279818622882024-03-05T19:17:33.729-06:00Anonymous MonetaristIf your mother does not understand what you are saying then neither do you.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.comBlogger1001125tag:blogger.com,1999:blog-7661188327981862288.post-61771785634258338742021-09-25T09:33:00.000-05:002021-09-25T09:33:06.087-05:00My Name is Jon Bird<p>Fight for your people</p><p>Fight for what you love</p><p>Fight</p><p>I will return</p><p>On your left</p>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-8823280406234991002021-09-25T09:31:00.000-05:002021-09-25T09:31:03.084-05:00Firmamental One<p> This iS It</p><p>Stop</p><p>Turn ...</p><p>Black</p><p>swAn</p><p>risinG</p>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-60884739205877241272021-09-21T10:21:00.000-05:002021-09-21T10:21:10.274-05:00Dis Time with All Da Feels<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_fyBTHu3dFfA3RBPZiSwqE97zA8a8DzvUv8Dgnq_wju8mAk6zDjZDxaNZ-hmvNVFhdgIat15nDrpK3-ujeh9snlnwNM77AAd4M_W0VcPX_l8I14V8P0enKhNvcxLeduRKxfwmJkAeLvA/s2048/bird.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1152" data-original-width="2048" height="333" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_fyBTHu3dFfA3RBPZiSwqE97zA8a8DzvUv8Dgnq_wju8mAk6zDjZDxaNZ-hmvNVFhdgIat15nDrpK3-ujeh9snlnwNM77AAd4M_W0VcPX_l8I14V8P0enKhNvcxLeduRKxfwmJkAeLvA/w635-h333/bird.jpg" width="635" /></a></div><br />'Here we go, here we go, here we go again.'<p></p><p>'Fight the Power.'</p><p>'For the People.'</p><p>Let's flip that Bird Together shall We?</p><p>Spread that Word!</p><p><br /></p>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-75469881287043832912021-09-12T13:01:00.000-05:002021-09-12T13:01:22.794-05:00Singularity Thrice Chapter 29<p>Johnny was sliding blind.</p><p class="MsoNormal"><o:p></o:p></p>
<p class="MsoNormal">The fractal of space and time had broke and would break the
quantum, and she was pissed.<o:p></o:p></p>
<p class="MsoNormal">He knew he would get the message, he had seen the results.<o:p></o:p></p>
<p class="MsoNormal">The dead surrounding him were the only signs of life.<o:p></o:p></p>
<p class="MsoNormal">If he made it to Chains City maybe he could build the key.<o:p></o:p></p>
<p class="MsoNormal">His ghosts on infinite axis pulling and prodding.<o:p></o:p></p>
<p class="MsoNormal">Like an arrow, be the arrow, he heard himself say.<o:p></o:p></p>
<p class="MsoNormal">Johnny was sliding blind. <span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span><o:p></o:p></p>
<p class="MsoNormal">He could feel the breadth of his pursuit.<o:p></o:p></p>
<p class="MsoNormal">Singularity thrice if he has already gotten there first.<o:p></o:p></p>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-68333522233044511532021-08-31T11:22:00.000-05:002021-08-31T11:22:10.150-05:00I came for my personals<p><span style="font-family: inherit;"> </span><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWA1Bq0iT_-eDrXf9dTu15gAzFTEdJgg39fPcu1hX7PrpDYsK-giWYpWzMyl-088UrV4x8M5HnrWpYVNB0aR665aksgGfFixlNMFey0qNOau3r9Wfb-KgporJHOdQJHmmMdQi0ZMgbt_c/s2048/this_time_personal.jpeg" style="margin-left: 1em; margin-right: 1em; text-align: center;"><span style="font-family: inherit;"><img border="0" data-original-height="1152" data-original-width="2048" height="235" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWA1Bq0iT_-eDrXf9dTu15gAzFTEdJgg39fPcu1hX7PrpDYsK-giWYpWzMyl-088UrV4x8M5HnrWpYVNB0aR665aksgGfFixlNMFey0qNOau3r9Wfb-KgporJHOdQJHmmMdQi0ZMgbt_c/w400-h235/this_time_personal.jpeg" width="400" /></span></a></p><span style="font-family: inherit;"><br /></span><p></p><p class="MsoNormal"><span style="font-family: inherit;"><o:p> </o:p>‘<i>Knowing what I
know … what we need is awareness we can’t get careless</i>’.</span></p>
<p class="MsoNormal"><span style="font-family: inherit;"><b>-Public Enemy –
Fight the Power</b></span></p><p class="MsoNormal"><span style="font-family: inherit;">‘</span><i style="font-family: inherit;">I don’t see
how he can ever finish, if he doesn’t begin</i><span style="font-family: inherit;">’.</span></p>
<p class="MsoNormal"><span style="font-family: inherit;">-<b>Alice</b><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">'<i>Let’s turn on
the juice and see what shakes loose</i>’.</span></p>
<p class="MsoNormal"><span style="font-family: inherit;">-<b>Betelguese</b><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Anonymous
Monetarist<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Anonymous
Monetarist<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Anonymous
Monetarist<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family: arial;">> </span><span style="font-family: inherit;">Hello
Cyberspace.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Let me dust off
the hoot and holler ...<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Hello, I am a
raconteur. I have been a raconteur for a time, am once more for a bit, and
perhaps then for the last time.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">For now, just a
fast one... <o:p></o:p></span></p>
<p class="MsoNormal"><o:p><span style="font-family: inherit;"> </span></o:p></p>
<p class="MsoNormal"><span style="font-family: inherit;">The kid was
slick, will give him that. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">I let him grab
a chair for thirty minutes because his cold call pitch was tik-tok clinic. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">‘Listen – it’s
churn, run rate, factor cost and boom you scale’, he said, with his gold cuffs
exposed and his teeth extended.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">It was 99, we
were coming up on Y2K, and all my folks in telecom were going to end up owning
islands. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">The young,
suited, shark explained that my company could be valued on monthly run rate
less churn times the factor from his billing/finance alliance that was
‘deploying funds’ to scale to the moon.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">With a personal
guarantee, my skin in the game, they would factor my receivables, and group me
with other growing subnetworks around the nation to scale and then bail.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">That moment,
another in midtown Manhattan with my bond securitization team backstabbing my
sponsor so I could replace him, and a few others that I will keep to my inner
monologue… represent my personal fractal. Hint … I said hell no.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Fractals are
kind of cool. They are self-similar on all scales. They suggest a rules based,
deterministic system.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">As an
illustration …<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Do you know a
successful trader? If u do then they will tell you that they know a pattern.
That is, they recognize a fractal. Fun part is that, by far, the majority of
them do not recognize that it is a fractal.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Will give you the
TLDR in a second; however if you would like to deep dive, search Mandelbrot on
my blog or the intertubes. He was an extraordinarily interesting fella.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">A fractal is
self-similar on all scales. Mandelbrot coined the term.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Our erstwhile
trader, although they preach some garbled version of random walk theory, albeit
they recognize that the markets consist of millions of individual decisions,
many by silicon proxy, has some pattern or some hook that they keep very close
to their vest. That pattern or hook is a fractal and you may confirm that by
hearing the trader describe how they are trading the same ‘thing’ on different
charts (i.e., hourly, daily). Self-similar on all scales the fractal is.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">The more
advanced student will trade on charts where the time period itself is an
important fractal.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">The way the
trader trades is entirely inconsistent with what they philosophically believe
trading to be. It flies in the face of who they perceive themselves to be. But
rules are rules! <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Mandelbrot was
asked by his credentialed colleagues why, given his robust intellect, he toiled
in such a pedestrian field as trying to model exactly why/how markets behave.
To paraphrase his response, ‘the markets are the dataset of humanity’.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">If Mandelbrot
were alive today perhaps he would search for fractal relationships in the
metadata of the socials or in the promise of blockchain supercomputers.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;"><b>Most certainly,
and I can attest that I know this to be true, he believed in the following
fractal, ‘<span style="background: white; color: #202124; letter-spacing: 0.2pt;">The
thing that hath been, it is that which shall be; and </span>that which is
done is that which shall be done<span style="-webkit-text-stroke-width: 0px; float: none; font-variant-caps: normal; font-variant-ligatures: normal; orphans: 2; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; widows: 2; word-spacing: 0px;">: and there is no new thing under the sun’.</span><o:p></o:p></b></span></p>
<p class="MsoNormal"><span style="background: white; color: #202124; letter-spacing: 0.2pt;"><span style="font-family: inherit;"><b>It was in fact an ‘executable of this
source code’ that allowed me to play tour guide for the creator of a fractal
trading theory and show him that his discovery could be used to avoid lines at
the game day turnstiles of Wrigley Field.</b></span></span></p><p class="MsoNormal"><span style="background: white; color: #202124; letter-spacing: 0.2pt;"><span style="font-family: inherit;"><b>Open your eyes Neo.</b><o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Composability
with the Internet Computer is all sorts of fractalicious.<span style="mso-spacerun: yes;"> </span>My view of the IC is that it is a fractal
layer cake. My intuition is that implementing a fractal lens will gestate
significant network effects.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Are you
listening Benjamin?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Fractal composability.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: inherit;">Let’s go.</span><span face="Arial, sans-serif"><o:p></o:p></span></p>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-59186338178924629332013-06-16T08:56:00.000-05:002013-06-16T08:56:12.560-05:00Feeling sorry for the rats.<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGz3A-sTRlCyirg4jR7dZrYKjhEuoPIKga1AJKZfIrAj6i6I5uI9LP6-SX8tHieZAsyGsk09k0SWKG6RqrbaRAaL4yls-UyE1Nrq3kAFPl-yYKX-iwqCXD-zJFzFD9PbyQOxCsVmt97T8/s1600/sorry+for+the+rats.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGz3A-sTRlCyirg4jR7dZrYKjhEuoPIKga1AJKZfIrAj6i6I5uI9LP6-SX8tHieZAsyGsk09k0SWKG6RqrbaRAaL4yls-UyE1Nrq3kAFPl-yYKX-iwqCXD-zJFzFD9PbyQOxCsVmt97T8/s1600/sorry+for+the+rats.jpg" height="211" width="320" /></a></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
'<i>What's in the box</i>?'</div>
<div class="MsoNormal">
-David Mills, Se7en</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
'<i>And the eye-in the-sky is watching us all.</i>'</div>
<div class="MsoNormal">
-Ace Rothstein, Casino</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
'<i>To be modern only means to fill new forms with eternal truths</i>.'</div>
<div class="MsoNormal">
-Joseph Goebbels</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
As a trader, there is time to reflect ‘tween the flickering
ticks, often in the wee hours. Here in the Great City there is tranquility when
the air is sepia; the darkness balanced by the illumination necessary to keep
the cameras in focus as they watch the over-served stumble home whilst the
bunnies litter the green space. Actually we have a bunny infestation here, but
no one seems to mind. After all they are cute, cuddly, and as such of course
harmless. The signs referencing infestation always refer to the rodents, many
the size of rabbits. Both critters carry disease no doubt, but there are of
course no proclamations with big red Xs superimposed over Thumper and his kin. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
For the gnostic the wailing and gnashing of being spy gamed
is about seven years too late. The Federales
mirrored the San Fran Carrier Hotel back
in ’06 and have never snooped back. They hack us for our freedoms dontchaknow.
The digital binding of the left hand to the right foot, the requisite dissection
of ones’ avataristic soul, with mercy dispensed as necessary in the name of national
security. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
The comics of course living up to their name in discourse,
oblivious to any other amendment other than the second. Snowden, Manning, and the like, you are no
Daniel Ellsberg, for as we live through a bad sci-fi movie from the 70s the concept
of whistleblower is being queued up as requiring a minimum sentencing standard.
Pay no mind that the self-immolation of a Tunisian monk that purportedly
initiated the Arab Spring was motivated by the Wikileaks disclosure of
corruption in their government and direct your inattention to the fact that Snowden’s
girlfriend is kinda hot eh?<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
No one asked us if we wanted a credit score. No one will ask
us if we want a citizen score. Alas such a metric is undeniably coming to a job
interview, college application, mortgage document and dating website near you. When
the spooks gave away the basic algorithms to business awhile ago assuring that there was no bottle
for that genie, the ubiquitous commercial application of that military tech
became inevitable.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
At the end of the day the data intelligence complex is a job
creation program. Oh certainly the usual suspects over time will be rounded up
so our solons with flag pins suitably shined can trumpet the necessity of it
all for there is data gold in them there hills; a digital homestead with free
spoils .<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Youth may be for the young but youthful indiscretion is now a thing of your past, available into perpetuity at the touch of the button by any opposable
thumb that finds you within six degrees of nefarious separation.<o:p></o:p></div>
<br />
<div class="MsoNormal">
Frankly, I feel sorry for the rats.<o:p></o:p></div>
Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-79229158603955348122012-10-12T15:25:00.001-05:002012-10-12T15:25:51.782-05:00QE baby QE.. baby don't you spare no dimes on me...<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcsSCMFx2NRMz2iMPXE2fV524L3T8JVE5MINYDpG1G36a8icw0e__5yiSqWEUe3MkW5FFn2s4HV_JZ3Pvl5deqCPlTICGyqOdYCIRkvnEFrr2JbO1P5sdetZCYM11CFkFiCAObdqtXcoo/s1600/The+best+donchaknow.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcsSCMFx2NRMz2iMPXE2fV524L3T8JVE5MINYDpG1G36a8icw0e__5yiSqWEUe3MkW5FFn2s4HV_JZ3Pvl5deqCPlTICGyqOdYCIRkvnEFrr2JbO1P5sdetZCYM11CFkFiCAObdqtXcoo/s1600/The+best+donchaknow.jpg" height="126" width="320" /></a></div>
<div class="MsoNormal">
<i><br /></i></div>
<div class="MsoNormal">
<i>Gordon Cooper: Who was
the best pilot I ever saw? Well, uh, you're lookin' at 'im.</i></div>
<div class="MsoNormal">
<i>…<o:p></o:p></i></div>
<div class="MsoNormal">
<i>John Glenn: I'm tired
of being forthright, gracious and magnanimous. <o:p></o:p></i></div>
<div class="MsoNormal">
<i>Gordon Cooper: Yeah. <o:p></o:p></i></div>
<div class="MsoNormal">
<i>John Glenn: I'm tired
of these stupid questions from the press.<o:p></o:p></i></div>
<div class="MsoNormal">
-The Right Stuff<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In preparation for an Irish Wake this evening I became a bit reminiscent of family and such.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Had the memory of when as a lad lived ‘downstate in the sticks’
for a few years where , foreshadowing my future as a trader, across the street from me resided a fella of the name of Cash Dollar.
(Honest to goodness!) Oh… he would also wear a big hat and walk around in a
stars and stripes get-up from time-to-time. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Mr. Dollar owned horses and he would corral them with an
electric fence. Not enough to harm the
horse, the fence’s setting was strong enough
though, to get their attention.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
As a young’un was into a young’un’s ways and sometimes out
of love and devotion , of course, was perhaps just a tad bit mischievous toward some of me
dear relatives. My plan, admittedly a bit reckless, was to apply the juice
meant to apply said ‘horse sense’ in a less than judicious manner to whoever
happened to be visiting at the time.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Would not usually have
difficulty luring the relative, and am ‘membering a specific occurrence with a
cousin, to feed apples to the horses,
and invariably this fella had a pretty
big construct, although sometimes it varied, on the setup. ..<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
With this cousin the sting was the ‘passioned representation
that I had in fact procured superhuman powers and that as proof would lay hands
upon her where she would both feel my power and might.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Upon my plaintive cry would then grab the electric fence and reach over to the victim
and give them literally a jolt. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Truth being stranger am sure the analogy is not lost on you
gentle reader.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
If I were the Fed, and my dear cousin Marie were …well… you, my dear fellow surplus eater, can only
assure you that the expression on her face from this betrayal should clearly imitate that yonder on yours. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Delivering dollar’s juice might be couched with nice apples
but betrayal ain’t going to go down
well. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Our testy solons though are confident
that it will be Japan first (after
Europa) or at least for what passes as confidence these days from the fireman
that go from room to room putting out the work of their arson.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
These troubles
always end in currency crises don’tcha know.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Yeh and they do too.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com1tag:blogger.com,1999:blog-7661188327981862288.post-1084210167427224022012-09-29T09:27:00.000-05:002012-09-29T09:39:36.079-05:00The Theohphilus Thistle, a secular epistle, Bennie's wet whistle<br />
<div class="MsoNormal">
<br /></div>
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<div class="MsoNormal">
<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">'<i>Our blessed leaders at the Fed have a God Complex, they believe they are bigger than the markets, they will suffer the judgement that history bestows upon all fools</i>.' - unattributed</span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">'<i>A vast accession of strength from their younger recruits, who have nothing in them of the feelings or principles of '76, now look to a single and splendid government of aristocracy, founded on banking institutions and monied incorporations under the guise and cloak of their favored branches of manufactures, commerce and navigation, riding and ruling over the plundered ploughman and beggared yeomanry</i>.'</span></div>
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<span lang="EN">-Thomas Jefferson </span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">'<i>Say 'what' again! Say 'what' again! I dare you. I double-dare you..</i>.' - Jules, Pulp Fiction</span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN"><i>'It's not a panacea</i>' - Bernanke on QE3</span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">'<i>The time has come for someone to put his foot down and that foot is me</i>.' -Dean Wormer, Animal House</span></div>
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<span lang="EN"><br /></span></div>
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<span lang="EN">So much outrage so little rhyme.<o:p></o:p></span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">The fact that the Federales had to build the biggest computer in the world
to break every code in the world in order to fill up the biggest data center in
the world is freaky enough. The latest revelation that everyones' license plates have been scanned and if you make a public record request you can get a hold of
a couple hundred images of yourself driving across these here Yoo Knighted States is downright creepy. Get ye back Datalogix. Remember it is not a police state until they knock on your door.<o:p></o:p></span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">But don't worry dear citizen 'tis only to fight the evildoers. Hey if you
are innocent then you have nothing to fear and if not well then tie the left
hand to the right foot and have mercy on the accused's soul.<o:p></o:p></span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">Lot of folks crying mercy today. That irascible Uncle Fed, pinching cheeks
and givin' noogies to the Atticus Finches of this world that thought that hard
work if not returning reward would at least yield some er.. yield.<o:p></o:p></span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">But yield is for the more equal brainworkers that posit the rest of the
economy must yield to their troubles, the never ending gurgling emitted from
the rabbithole whence all the QSPEs and VIEs were deposited. The deflationary
chasm if you will. All but disappeared from the eyes of us mere surplus eaters,
gently ensconced in the depths of the Google Cache. <o:p></o:p></span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">How much cred does the Fed Head shed
if the Fed Head still had cred? Verily the great Bernak will monetize
cows to drive up the price of milk. A friendly professor employing friendly persuasion to corral the assorted sycophants into enabling Nancy Capitalism and the grand criminal syndicate
that is the American financial system. We will keep firing away until morale
improves proclaims the Oracle at Eccles. The portfolio balance akin to a
trapeze walker, the safety net only stretched for those too Big to Fall. The subliminal to the folks on the Street is
that this generation busted by liquidity lusted
is only partially through the generational workout; we can keep
papering over declining living standards with policies that are, of, for, and by
the banks; and can win the hearts and minds with the pablum narrative of decreasing the unemployment rate by kicking folks out of the labor force (nudge
nudge wink wink) - 89 million and counting.. BOOHAH!<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">If ideology is the devil verily we live in a ring of hell. Leader Obama
rightfully is betwixt and bewildered that the banksters don't love him,
seriously(goes his plaintive cry) do you think you would have got half as much
from McCain? At minimum Hobgoblin Geithner should wear a monocle and top hat
when he disdainfully addresses Congress cackling about reforms and expressing
his personal outrage at the latest book that weighs him in the balance and
finds him comically lacking. T</span>his 'seminal' election that offers the clearest distinction since the founding of the union is naught but a choice of two peas in a pod, the noise masquerading as debate akin to galley slaves fighting over the color of their master's tie. </div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">Romney Robot is equally dismayed that his mercenary past doesn't sell in
Peoria. Do they not understand that bloodletting is good for the patient?
The black guy said you didn't build it! For the love of Pete they even made me
pay more in taxes last year than I should have just to prove that I am a
patriot...what more do you people want?<o:p></o:p></span></div>
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<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">What we want Mittens is what we got. The real referees are back. And all is
well.<o:p></o:p></span></div>
<div class="MsoNormal">
<span lang="EN"><br /></span></div>
<div class="MsoNormal">
<span lang="EN">God Bless America and Go Bears! Golly gee... that flyby was cool!</span></div>
<br />Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-77039390874731408842012-07-13T12:03:00.002-05:002012-07-16T11:21:40.369-05:00Fight the Power<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9yJS9tD1aC03HKwhxzEP5se5ek4qka6T0z7g4Zzz8HEzKcjgm9RLV3ZvbVRyX1HGHJNr46mdGUKjZ6aa5M-EpfAedJ0GbLOvDoBP7KSJizu246dpUwW80v3ghS6YhXfkGeZxey4O7Al4/s1600/Fight+the+Power.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="219" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9yJS9tD1aC03HKwhxzEP5se5ek4qka6T0z7g4Zzz8HEzKcjgm9RLV3ZvbVRyX1HGHJNr46mdGUKjZ6aa5M-EpfAedJ0GbLOvDoBP7KSJizu246dpUwW80v3ghS6YhXfkGeZxey4O7Al4/s320/Fight+the+Power.jpeg" width="320" /></a></div>
<br />
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">'<i>How low can you go?...here we go again... They'll never care for the brothers and sisters</i>'.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">-Public Enemy, Bring the Noise</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">'<i>You know, we always called each other good fellas. Like you said to, uh, somebody, :You're gonna like this guy. He's all right. He's a good fella. He's one of us.: You understand?... It's like a license to steal. It's a license to do anything</i>.'</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">-Henry Hill, Goodfellas</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><i>'U.S. futures industry investigators are looking into why Iowa-based collapsed brokerage PFGBest used a tiny accounting firm that appears to be operating from inside a suburban Chicago home to audit its books..</i>.'</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">- Chicago Tribune 07/12</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">'<i>All I know is that first, you've got to get mad</i>.'</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">-Howard Beale, Network</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">As the latest Ponzi within a Ponzi unravels within the comics perhaps a moment should be taken to focus on the bigger picture.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">A progressive reading the FT and WSJ on a daily basis for years may seem to epitomize the duality of life but in truth how can one fight the power lest one at least stay acquainted with the outtake of said propaganda mills?</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">To wit, a young turk with most certainly an unabashedly bright future of the name Matthew Schoenfeld ( with CV of 'recent graduate of Harvard Law School'), penned a piece in the WSJ two or 'tree' days ago that was most certainly received fondly by the the proponents of the 'ideology of the rich' and their assorted sycophants. </span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">He used the example of 'Micheal Jordan's exorbitant salary as making the Bulls better overall and by extension the league' to exclaim that income equality ain't what your lyin' eyes record. Quoting the Grand Poobah of Unintended Consequences, Larry Summers, "From the time of Pericles until the end of the 18th century in London-2300 years, standards of living increased perhaps 100%." ; Schoenfeld continues with, 'In the U.S. since 1790, by contrast, real per capita gross domestic product has increased nearly 4000%. Quality of life, in other words, increased 40 times more in 220 years of American history than it had globally over two millenia.'</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">He concludes with, 'perhaps a century from now low-income Americans will pity the living standards of today's 1%'. </span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Golly gee so I guess the surplus eaters stricken by the failure to liquidate the insolvent criminal syndicate and suffering from the greatest level of income inequality (give or take a few percentage points) since I don't know... the Tyler Rebellion of 1381... should count their blessings that they have indoor plumbing, and neither have to worry about the plague nor the fixing of maximum wages?... (they only fix minimum now).</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Well done liege Schoenfeld, well done... verily though...</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Let me retort.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">It is obvious Matthew that your time at Goldman Sachs , Lehman Brothers, 3GCapital, and your upcoming stint at Morgan Stanley after graduation has and will give you a robust appreciation of the 'little people'.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Perhaps you might though be interested in what some of your fellow students (admittedly from a much lower caste) have to say on the troubles of the 99%.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Cwcs.ysu.edu/resources/cwcs-projects/defacto ... has been compiling a metric for 5 years now that calculates the defacto unemployment rate.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">It is of interest to discerning folk for it closely mirrors the methodology employed to calculate unemployment during the First Great Depression.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">The last tabulation was performed in January of 2012:</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Unemployed ...8.3%</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Marginally Attached...1.8%</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Discouraged....0.7%</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Underemployed...5.3%</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Excess Disability...6% (est)</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Government Programs 4% (est)</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Total 26.1% (looks like there is a typo on their site on the discouraged total).</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Again their methodology is similar to GD1, where they basically counted up folks that were able, and had worked in the past,and were not working now. Yes I know that the Jan '12 defacto total includes disability but gentle reader we all know folks on disability... need I say more?</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Another adjustment when comparing to GD1 is that given the Keating-Owen Act there were industries where it was legal to hire 'em on their 14th birthday.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Lastly, the unemployment rates in 1932, 1933 and 1934 were 23.53%, 24.75%, and 21.60%</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">So gentle reader forget about income inequality, forget about the defacto unemployment rate, cause the top1% back in GD1 should be pitied by today's huddled masses where the intertubes are free and the check is in the mail.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">To each according to their eligibility ...for each according to their greed.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">Fight the Power.</span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></div>
<div style="font-size: small;">
<span style="font-family: Georgia, 'Times New Roman', serif;">So Long, and thanks for all the fish Matthew.</span></div>
<br />
<br />Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-50556788262290515692012-07-11T11:13:00.000-05:002012-07-12T10:21:57.468-05:00Nuke 'em. Let's nuke the bastards.<div class="separator" style="clear: both; text-align: center;">
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<br />
<i><span style="font-family: Georgia, 'Times New Roman', serif;">' I saw... its thoughts. I saw what they're planning to do. They're like locusts... After they've consumed every natural resource they move on ...'</span></i><br />
<i><span style="font-family: Georgia, 'Times New Roman', serif;">-President Thomas Whitmore (Independence Day)</span></i><br />
<br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><i>The same "Senior Compliance Manager" who signed off on the PFGBest affadavit and who is listed on the NFA website as both the "Director of Audits/Investigations" and the "Director of FOREX Compliance", Lauren Brinati, is the same woman whom I and my attorneys dealt with two years ago. {Brinati told my lawyer...}<she actually="" attorney...="" my="" told=""></she></i></span><br />
<i style="background-color: white; font-family: Georgia, 'Times New Roman', serif;">"<b>I don't actually understand any of this stuff. I just sign whatever comes across my desk</b>." </i><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><i>Lauren Brinati, June 2010</i></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><i>-barnhardt.biz</i></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><i><br /></i></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><i>'Outside theft is even harder to stop in advance than foolish risk-taking. No reform proposal should adopt the impossible goal of eliminating the need for trust and integrity. The cost of any proposed remedy will ultimately be passed on to brokerage customers.'</i></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><i>-</i>Financial Times 7/11/12</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"></span><br />
<br />
<span style="font-family: Georgia, 'Times New Roman', serif;">'<i>Client funds held by PFG Canada are also covered by the Canadian Investor Protection Fund, which puts them at an advantage over U.S. clients. The U.S. equivalent to the CIPF, the Securities Investor Protection Corp. doesn’t cover futures accounts, while CIPF covers all investment accounts, from stock to futures to currencies.</i></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><i>CIPF was apprised of the situation late Monday afternoon but does not believe it will be called upon to cover any losses, said vice-president Barbara Love.</i></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><span style="background-color: white;"><i>Regulators are working “very quickly. There’s a lot more knowledge in Canada about the futures industry after MF Global</i>.”</span></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">-globeandmail.com 7/10/12</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">Bad people do bad things.</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">Clearly, mistakes were made.</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">Madoff? Lone wolf. MFG? Market turned against them...whoops! PFG? How were we supposed to know that P.O. Box was a fake? He was such a nice man.</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">The second time this fella has missed a ponzi by whiskers. The first saw overseas institutions take a hit. Caveat Emptor Deutschland!</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">This time its' personal. Good folks, some known to me, who through no fault of their own...wiped out. Financial detritus strewn about with the skidmarks of another clown car.</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
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<span style="font-family: Georgia, 'Times New Roman', serif;">This morning whilst grabbing the normal cup of joe got into a conversation with a MF Global refugee. A stranger who overheard my riffin' on the PFG headline in today's comics.</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">Everytime he reads how 'most' have received 70-80% back he wants to grab a pitchfork... he has seen nada and knows many that have garnered just as much.</span><br />
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<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">'When you tell folks that it is a criminal syndicate they roll their eyes', I opined.</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">'They have no idea', he replied.</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">Let me though gentle reader, fan such a thought, provide perhaps a gentle breeze to just such an ember in your mind.... </span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">' <i>The disability ranks have outpaced job growth throughout President Obama's economic recovery. While the economy has created 2.6 million jobs since June 2009, fully 3.1 million workers signed up for disability benefits… After adjusting for inflation, median annual household income dropped 5.3% between June 2009 and May 2012. In contrast, median incomes dropped 2.6% during the 18-month recession, Sentier found. "The recession was bad enough," said Sentier's Gordon Green, "but what's extraordinary is the even larger decline during this so-called economic recovery</i>."… </span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">investors.com 7/6/12</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">Oh and the situation is much much worse if you exclude entitlement payments.</span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="font-family: Georgia, 'Times New Roman', serif;">Clearly the Band of the Hand can only create a Potemkin demand. This so-called recovery, with so-called free markets, and so-called regulators, should be called for what it is ...a Ponzi reliant upon the charisma of the schemer. </span>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-10695885743388438112012-07-10T10:45:00.000-05:002012-07-13T12:31:06.071-05:00The criminal syndicate strikes again ...Quis custodiet ipsos custodes?<div class="separator" style="clear: both; text-align: center;">
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<i style="background-color: white;"><span style="font-family: Georgia, 'Times New Roman', serif;"><span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;">'</span><span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;">History repeats itself, first as tragedy, second as farce.</span><span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;">.'</span></span></i><br />
<i><span style="font-family: Georgia, 'Times New Roman', serif;"><span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;">-Karl Marx </span></span></i><br />
<span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;"><i><span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></i></span><br />
<i><span style="font-family: Georgia, 'Times New Roman', serif;"><span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;">I have spoken to the heads of various Wall Street equity derivative trading desks and every single one of the senior managers told me that Bernie Madoff was a fraud. Of course no one wants undue career risk by sticking their head up and saying that the emperor isn't wearing any clothes. As a result of this case several careers on Wall Street and in Europe will be ruined. Therefore, I have not signed nor put my name on this report. I am worried about the personal safety of myself and my family.'</span></span></i><br />
<i><span style="font-family: Georgia, 'Times New Roman', serif;"><span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;">-Harry Markopolos in 2005. </span></span></i><br />
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<i><span style="font-family: Georgia, 'Times New Roman', serif;"><span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;"><br /></span></span></i><br />
<span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;"><i><span style="font-family: Georgia, 'Times New Roman', serif;">'No one at MF Global ... has been accused of any wrongdoing....The CME Group...has not been accused of any wrongdoing.' - New York Times</span></i></span><br />
<span style="background-color: #e6e6e6; color: #333333; line-height: 20px; text-align: left;"><i><span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></i></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><i>'A “spot check” performed on US futures brokers’ customer accounts in the wake of the MF Global failure found all, including PFG, were in compliance, CFTC said in January.</i></span></span><span style="background-color: white; line-height: 20px;"><span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><i>The Chicago-based NFA had responsibility for auditing the broker’s accounts. </i></span></span><br />
<span style="color: #333333; line-height: 20px;"><i><span style="font-family: Georgia, 'Times New Roman', serif;">After contacting US Bank on Monday, the NFA found that PFG had only $5m on deposit there, NFA said. <b>Further, NFA found that two balances of $207m and $218m reported by PFG for February 2010 and March 2011 respectively at US Bank were false. PFG only had less than $10m for each of those months</b>, the NFA said.' - Financial Times</span></i></span><br />
<span style="color: #333333; line-height: 20px;"><i><span style="font-family: Georgia, 'Times New Roman', serif;"><br /></span></i></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><i> 'Only now at the end do you understand. Your feeble skills are no match for the power of the dark side...'</i></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><i>-Emperor Palpatine</i></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><i><br /></i></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif; line-height: 20px;"><i>'We have to show these men and women freedom by enslaving them, and show them courage by frightening them.' - Fight Club</i></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif; line-height: 20px;"><i><br /></i></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><i>"FCM's should be required to develop automated daily reports that divulge their segregated customer account balances and holdings to exchanges. Appropriate information such as compliance to guidelines need to be made public," Alex Kins, CEO, AlphaMetrix</i></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><i><br /></i></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">The criminal syndicate strikes again.</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><br /></span></span><br />
<span style="background-color: white; color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">The NFA, National Futures Association (NFA) is the industrywide, self (er scratch that) stealth-regulatory organization for the U.S. futures industry. NFA strives every day to safequard market integrity, protect investors and blah blah blah (insert your derision here).</span></span><br />
<br />
<span style="background-color: white;"><span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">Obviously the (smurfs at the) NFA's spot-check of PFG, the most recent happening 'that could never happen' involved making sure that the officious document asserting a couple hundred million at US Bank was uh.... officious looking. Hold it up to the light to see a watermark perhaps? Check the PFG website to make sure it was the correct company letterhead? Did the fella sign it? OK!! Put it in the official file.</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><br /></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">Of course actually contacting the institution to confirm funds was too obtrusive and outside the NFA's striving mandate to safeguard and protect the criminal syndicate and its' associated sycophants.</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><br /></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">Golly gee, they will no doubt exclaim we don't have a mandate or the manpower (er scratch that) willpower to police the thousands of FCMs ( er scratch that... less than 100!... see http://www.futuresbuzz.com/fcm_accounts.html) and besides that responsibility if it were to exist would rightfully need to be explained away by one of our brethren regulators (er scratch that... wolves).</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><br /></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">Today's 'hen special' of two or 'tree' hundred million vaporized will quickly cycle through the pablum narrative... the 'regulators' even now divining what mitigating action need be taken to turn the page , to start afresh, to restore confidence and integrity to the folks who serve as the necessary fodder for the armaments of the more equal brainworkers.</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><br /></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">The only hope for the good people, which I can assert since they include friends and acquaintances, who now stand victimized and vulnerable, is that the dollar cost to the Cosa Nostra of the hit to whatever these solons desire their 'reputation' to be is greater than the dollar cost of making clients of PFG whole.</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><br /></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">The 1st rule of Fight Club is that you do not talk about FIGHT CLUB. The 2nd rule of Fight Club is that you DO NOT talk about FIGHT CLUB.</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><br /></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">Watch as they try to change the conversation again.</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><br /></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">Quis custodiet ipsos custodes?</span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;"><br /></span></span><br />
<span style="color: #333333; font-family: Georgia, 'Times New Roman', serif;"><span style="line-height: 20px;">@$#%@#$%@#$ Honey! Where is my scotch?</span></span>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-79650844740781886232012-02-02T09:49:00.016-06:002012-02-03T11:55:25.436-06:00Those too astute to buy refute you.<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiga37UkVaW1Bocy8Ds8VLPGC97imoUg5-q1W9t5Hc9zxjNnehZpJyHQR9olfGDSlK_P0KOas-RoVwoNRxXJF4lwG8swWnQsmer2shqpNEnqBOQqBv2ZXCKUt0s59yioTobHe-eAlB2j7w/s1600/something+has+got+to+give.JPG"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 320px; height: 261px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiga37UkVaW1Bocy8Ds8VLPGC97imoUg5-q1W9t5Hc9zxjNnehZpJyHQR9olfGDSlK_P0KOas-RoVwoNRxXJF4lwG8swWnQsmer2shqpNEnqBOQqBv2ZXCKUt0s59yioTobHe-eAlB2j7w/s400/something+has+got+to+give.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5704567589843481970" /></a><br />A brief dispatch from a pragmatic outpost on the outskirts of the ideological empire.<br /><br />Manufacture of contempt cause it's only a Great Depression if they say it is? Check.<br /><br />Beware the Trojan Hoax? Check.<br /><br />Failure to liquidate the insolvent banksters has liquidated the productive economy? Check.<br /><br />Verily, let them eat debt? Checkmate.<br /><br />No need for this fella to opine regularly as the song remains the same although there have been a few amusing happenings as of late... and that's a gift that our political cycle just can't help giving.<br /><br />Watching the POTUS's SOTU half expected to see a crawl at the bottom showing job listings. Human Resource Manager in Chief... seriously?<br /><br />And the publican response? Why it's Mourning in America. Our nation as a whining city upon a hill whose QE blight beguiles Nancy Capitalist loving people everywhere.<br /><br />Replace their conflicted moderate with our conflicted moderate and we'll regulate through repeal and bring back the Old Deal.<br /><br />And more importantly sayeth Mortimer we'll get those soldiers back in there! We'll turn those wars back on, or at least do a little Persian nation building.<br /><br />It's a job creation program dontcha know.<br /><br />But to top it off.. to find that in this election cycle the establishment political candidate that purportedly supports the only rational economic policy is, given his co-opting of Dr. Paul, Newton Leroy McPherson? Well for a liberal progressive that isn't just falling through a rabbithole it is a rip in the space time continuum. <br /><br />Ah Newt... born of teenage parents, participant in Venn Diagram marriages, Freddie Mac millionaire...who else could take the mantle of an outsider preaching family values. Given that his teenage parents were married for three days he obviously felt he had the experience to once advocate orphanages for the children of single unwed welfare mothers. <br /><br />His surname of Gingrich came from his teenage father giving up parental rights in exchange for skipping his child support payments.<br /><br />He truly is, aside from a complete inability and/or desire to connect on a retail level, the Republican Clinton.<br /><br />Mere fodder for the comedy channels no doubt...<br /><br />But here in and about the heartland it is about the jobs stupid.<br />You can screw with the denominator.<br />You can screw with the deflator.<br />You can villify the victims and break bread with the satyrs.<br />You can cut them in half while they are smiling ear to ear... what magic!<br /><br />But at the end of the day sus lying ojos can't help but make the smiling propaganda gazetter's black and white arguments seem a bit more sepia. <br /><br />The Grey is more than just Liam versus the wolves it is the shade we all live in, the twilight of Empire, where the ideology of the rich battles the struggling pragmatism of making a payment on time.<br /><br />It is the cusp of the demographic black diamond slope versus the bright light of entitlement for the more equal brainworkers.<br /><br />The battle of right versus trite, exposition versus expediency, socialized guts versus diminished glories, and ultimately Mr. Hand's chimera of currency debasement versus productive growth.<br /><br />Truth makes strange bedfellows but not if folks fail to agree that there is at least a bed in a room in a house on a block somewhere... anywhere ...where the pillow talk isn't impuning the other's patriotism.<br /><br />Doing God's work whilst being hell bent to seek rent doesn't trickle too terribly well when the world is concurrently walking through the Valley of Debt and fearing no easing.<br /><br />Eventually something has got to give.<br /><br />To all the naysaying nabobs of Nancy Capitalism, who think that social mobility is accessing Facebook on their cell, that the Pareto curve describes a major leaguer's out pitch, who believe the worth of a man is judged by the size of his wallet, who continue to argue about nickels whilst the solons steal gold bars out the back, and try and sell hope by enabling despair...<br /><br />Those too astute to buy refute you.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com2tag:blogger.com,1999:blog-7661188327981862288.post-72384418576668658132011-04-29T11:11:00.009-05:002011-04-29T11:22:30.920-05:00Once upon a time...<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0sMWqRXwc-XlnOUpTlZ1Nwy_pq2aQOebX8wpzQAsXJSrCQV3o7eT3SXW7M5M8UWQhEW7kGVaPUBck8afbjG2wevXGjar3IegpacuwTNSc8yaHH2W5-PHsXQU0ST1RoCjPovUu5j60tEo/s1600/Sweet-Dreams.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 374px; height: 400px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0sMWqRXwc-XlnOUpTlZ1Nwy_pq2aQOebX8wpzQAsXJSrCQV3o7eT3SXW7M5M8UWQhEW7kGVaPUBck8afbjG2wevXGjar3IegpacuwTNSc8yaHH2W5-PHsXQU0ST1RoCjPovUu5j60tEo/s400/Sweet-Dreams.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5601040539135648226" /></a><br /><br />Time for bed son.<br /><br />But you promised me a story Daddy!<br /><br />Yes I did…<br /><br />There once was a country called America.<br /><br />It was started by a bunch of rich white guys who were upset about their taxes.<br /><br />Eventually they became the most powerful country in the world when the rest of the powerful countries darn near destroyed themselves.<br /><br />The rich and powerful Americans saw a lot of opportunity to plunder the planet. They stopped a lot of other countries from developing self-sufficiency through either war or debt. Their wars were fought to make the other peoples free. The debt was created to make the other peoples prosperous. <br /><br />It was called free market capitalism and democracy and it was good.<br /><br />But then there was a war that America lost. The war was very expensive and the American people didn’t approve of it.<br /><br />So rich and powerful Americans had to change the way they used war and debt to plunder.<br /><br />They started to use debt to make their own people more prosperous and to make wars less messy.<br /><br />But the wars were very expensive and their prosperous people became more and more indebted to their prosperity.<br /><br />Prosperity got out of control and the free market crashed.<br /><br />So the rich and powerful Americans created more debt and launched more wars.<br /><br />But the free market crashed again.<br /><br />So the rich and powerful Americans decided that the free market had to be abandoned in order to save it. They created all the debt they could in order to protect their riches and their power. Eventually they couldn’t afford the wars. Eventually they couldn’t afford the debt.<br /><br />The people became very upset.<br /><br />And a bunch of rich folks, not just, but mostly, white men (guess that’s progress!), became very very upset about their taxes.<br /><br />THE END.<br /><br />Is that all Daddy?<br /><br />What happened to America?<br /><br />Well son, that’s exactly what folks began to ask themselves. <br /><br />But the real America was less of a place than an ideal and lots of folks in lots of other countries aspired to that same ideal.<br /><br />So America went global as did their prosperity. And although times in the old country might be hard right now at least we have a chance to pursue the American dream.<br /><br />Now it’s time to go to sleep son you need to be well rested for your exam tomorrow if you want to join the cadre.<br /><br />Sweet dreams.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com6tag:blogger.com,1999:blog-7661188327981862288.post-1511512917402874212011-04-23T09:56:00.014-05:002011-04-23T10:33:26.100-05:00To each according to their eligibility... for each according to their greed.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOtc7FPe_mAXb2WSN_HyCVJmQoZVm761O3kbDvD7itE4DX3HHyctlBV5gdEudNrdz8vKZbS4V4uSqpLj7eAFmYemdAkRUXcu2MLRkcOw9hoLlJc9O1IRsVQSChcQjEeQFHwVs5gayzgFk/s1600/Marx+not+groucho.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 225px; height: 292px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOtc7FPe_mAXb2WSN_HyCVJmQoZVm761O3kbDvD7itE4DX3HHyctlBV5gdEudNrdz8vKZbS4V4uSqpLj7eAFmYemdAkRUXcu2MLRkcOw9hoLlJc9O1IRsVQSChcQjEeQFHwVs5gayzgFk/s400/Marx+not+groucho.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5598796422763820642" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvHCsd6eqmDzjVkJafC_SsaTWIu4xgVpPo1NZU_8o8_ZYEgbfdkdJCRlTlV49HSEN6QZRcAJ-wNkTDsCWGwj27bm5PM9M4fhOTEeZpb2D45LO304MiVqe960l5tGnyk1Znb0MTr7AfvI8/s1600/There+is+no+depression+move+along.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 184px; height: 309px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhvHCsd6eqmDzjVkJafC_SsaTWIu4xgVpPo1NZU_8o8_ZYEgbfdkdJCRlTlV49HSEN6QZRcAJ-wNkTDsCWGwj27bm5PM9M4fhOTEeZpb2D45LO304MiVqe960l5tGnyk1Znb0MTr7AfvI8/s400/There+is+no+depression+move+along.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5598795955995041106" /></a><br /><br /><span style="font-style:italic;">You got no time for the messenger,<br />got no regard for the thing that you don't understand,<br />you got no fear of the underdog,<br />that's why you will not survive!</span><br />-Billy Joel<br /><br /><br />The Oracle at Eccles will bless us mere surplus eaters with transparency this week er scratch that will bless us with unveiling the latest in a series of Jedi mind tricks.<br /><br />‘You don’t need to see our collateral.’<br /><br />‘This is not the monetization that you are looking for.’<br /><br />‘Go about your recovery.’<br /><br />‘Move along.’<br /><br />After all it can’t be monetization if it is only temporary unlike death and taxes which unless we apply some semblance of egalitarianism to the latter will result in the economic forecast, the least for the most, of the former.<br /><br />And golly don’t expect us to keep track of the collateral folks, seriously we’re still using Windows 95. And it is hard to get that stuff onto floppies. Would you care for a nice game of Pong?<br /><br />But let us all raise our liquidity chalices Nancy Capitalists to the Glee-shaped Recovery! Let us cheer the depreciating scrip and the magnificence of America’s wealth exporting machine!<br /><br />Nothin’ but blue skies…. waitaminnit…<br /><br />Thefiscaltimes.com: ‘<span style="font-style:italic;">According to the Census Bureau households paid $2.2 trillion in taxes in 2010 and received $2.3 trillion in some kind of government support. 59% of the 309 million Americans in this country got at least one federal benefit in 2009 according to the Census Bureau. Government cash handouts accounted for 79% of household growth since 2007</span>.’<br /><br />All this whilst wealth inequality is approaching levels last seen since, gee I don't know, the Tyler's Rebellion of 1381?<br /><br />No wonder 84% want no change to Medicare. No wonder a majority favor increased spending over decreased spending. In fact the only majority for decreased spending is for foreign aid (YouGov poll). McClatchey-Marist recently reported that almost 70% oppose raising the federal debt limit - however 80 percent, including 70% of the teabaggers, oppose cutting Medicare or Medicaid to deal with the budget deficit. Good luck with that.<br /><br />Where you sit is where you stand.<br /><br />But you are going to need to stand for something America lest you fall for anything.<br /><br />Perhaps it is appropriate that a narcissistic, egomanic, borderline pathological, deadbeat shill is at the top of the leader board in the Republican sweepstakes.<br /><br />Every day in every way this s#$ is starting to resemble a bad science fiction movie from the 70s.<br /><br /> Let’s investigate the oil price Barry? Hint , google Eccles. Let’s arm the mudžahedin against a bad guy? Sure... worked pretty good last time! Let’s bring down insurance costs by giving Big Pharma a half a trillion bucks worth of new premiums? Brilliant! Let’s make the banking system solvent by shoving trillions of bad speculative bets into the rabbithole? Outstanding!<br /><br />But above all let’s get the spokesperson for the supranational star chamber to better articulate the psych-ops that will keep those shoppers happy and ignore this slow train-wreck of a Great Depression by refuting, negating, and verily daring them to believe their lying ojos….<br /><br />And at no time will his hands leave his arms.<br /><br /><span style="font-weight:bold;">To each according to their eligibility... for each according to their greed.</span>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-72055220030115624832011-04-16T11:01:00.015-05:002011-04-16T11:30:00.858-05:00The truths you hold to be most dear are lies told to you by liars.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmzVRHZhza8A_yNoaTX2Qq0iHGr6Sgi2Wdn2gW50r4YwR85-mh3WaWMS7UJWfVgIAOb7n0p3VHiF6YLgyBSWV24EQGtwAzQdJ3yHw3kRvFVGuCQb4ywRvgFwQRFXN7EJhOBILoAigUtg4/s1600/Mother+should+I+trust+the+government.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 296px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmzVRHZhza8A_yNoaTX2Qq0iHGr6Sgi2Wdn2gW50r4YwR85-mh3WaWMS7UJWfVgIAOb7n0p3VHiF6YLgyBSWV24EQGtwAzQdJ3yHw3kRvFVGuCQb4ywRvgFwQRFXN7EJhOBILoAigUtg4/s400/Mother+should+I+trust+the+government.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5596218627363521282" /></a><br />‘<span style="font-style:italic;">Afterward he measured a thousand; and it was a river that I could not pass over: for the waters were risen, waters to swim in, a river that could not be passed over. And he said unto me, Son of man, hast thou seen this?</span>’ – Ezekiel 47:5-6<br /><br />‘<span style="font-style:italic;">There’s blood in the streets, it’s up to my ankles</span>.’- Jim Morrison<br /><br />‘<span style="font-style:italic;">The iron never lies to you.</span>’ –Henry Rollins<br /><br />As I sit here in my new office (purchased at 30% off 1998 prices …viva la recovery!) getting ready to spend a full Saturday perusing charts - for whatever reason - the Spirit is movin’ this fella to a lonely bray into the wilderness of the blogosphere yet again. Please excuse the indulgent and self-centered segue gentle reader but a recent article illuminating the consequence of the ‘manufacture of contempt’ oft-referenced here has left me scratching my curmudgeon keppe.<br /><br />About a week ago a group called GlobeScan asked 12,884 folks nestled in 25 different countries whither they agreed or disagreed with the statement that ‘the free market is the best system on which to base the future of the world.’<br /><br />In 2002, despite the tulip er dot-com crash, 80% of Americans stated that they either strongly agreed or somewhat agreed that the free market was the best economic system for the future which, not surprisingly, was the highest percentage of any country.<br /><br />That percentage is now down to 59%, less than Brazil (68%) and less than China(67%).<br /><br />But that’s not all!<br /><br />A majority of our youth, per the American Red Cross, approve of torturing or even killing captured enemies.<br /><br />And to round out this trifecta of tyranny…<br /><br />59% of adults, per McClatchy-Marist, believe that those who publish confidential or secret U.S. documents should be prosecuted. 22% think it is a ‘good thing’.<br /><br />Oh shining city upon a hill whose beacon light guides freedom-loving people everywhere, you knew Daniel Ellsberg, Daniel Ellsberg was a friend of yours… Bradley E. Manning you’re no Daniel Ellsberg.<br /><br /><span style="font-weight:bold;">Life, liberty and the pursuit of justice…you’ve been punked.</span><br /><br />How in the frak did we get here? Was it the ideological institualization of stupid… the crazy- hole, Big Lie, co-opting of regular folks’ inner monologues so that they would vote against their self-interests?<br /><br />Was it the incessant worshipping of all things military? Fly-bys,and medals of honor,and colour presentations at every single sporting event of note, wars of choice with a roulette wheel supporting our ‘tribes with flags’ du jour … Eisenhower no doubt for many years has been convulsing in his tomb.<br /><br />Was it the full-out psych-ops perpetrated by our solons to keep the shoppers happy? Employment improvement through division causing derision, retail improvement through survivor bias causing folks to contemplate their lyin’ eyes, magical deflators applying Potemkin lipstick to an economy of craters?<br /><br />Perhaps all to some measure. <br /><br />Eras have markers, signifying events, as it were, that although part of the scenery at the time become a sentence or two that future history texts are built on.<br /><br />For my demographic -give or take a couple weeks am the very last of the boomer generation- the snippet of our times is best elucidated by the epigram of ‘ failure to liquidate the insolvent banksters, to apply the acid-bath of price discovery, to effect the principles of capitalism long espoused by the plutocracy, to rich folks’ bad speculative bets… has liquidated a large part of the productive economy.’<br /><br />It is the wellspring of derision marking the inflection that, to be gentle, will for some future student be seen as the ‘transition’ of the American empire.<br /><br />The solutions are quite simple hence the arguments made by the aristocracy are by necessity so complex. Failure to stand for, and embrace, the simple is why we fall for the complex.<br /><br />As an example, if the markets are the dataset of humanity, then given the ridiculous complexity of the latter, theories on the former must be comparably so.<br /><br />And yet the methodology that generates…<br /><br />AUDJPY sell<br />AUDUSD buy<br />AUDCAD sell<br />AUDCHF buy/sell<br />CADCHF buy/sell<br />CADJPY buy/sell<br />EURAUD sell<br />EURGBP buy/sell<br />EURJPY sell<br />EURUSD buy/sell<br />EURCAD sell<br />EURCHF buy/sell<br />GBPCHF sell<br />GBPJPY sell<br />GBPUSD buy/sell<br />GBPAUD sell<br />GBPCAD buy/sell<br />NZDJPY buy/sell<br />NZDUSD buy<br />NZDCHF buy<br />USDCAD buy/sell<br />USDJPY buy/sell<br />ZC buy/sell<br />CL3 buy<br />GX buy/sell<br />YM buy<br />DX buy/sell<br />GC3 buy<br />ES buy<br />SI3 buy<br />ZS sell<br />ZB buy<br />ZW buy<br /><br />… with proprietary linked entry stops and exit stops and limits (for next Sunday-Monday trading) works to the utter bafflement of the adherents of the failed-theory of randomwalking.<br /><br />The Book of Books states that the Kingdom of Heaven belongs to those who are like … children.<br /><br />Indeed.<br /><br />My eight year old has a better sense of things then the bloviating publicans and libs. <br /><br />Unfortunately the simple children will become complex adults. And verily, complexity for complexity’s sake is most certainly the road to perdition.<br /><br />Although the truths you hold to be most dear are lies told to you by liars, much like Rollins’ iron which never lies… neither do the charts. <br /><br />So back to ‘em.<br /><br />AM out.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com2tag:blogger.com,1999:blog-7661188327981862288.post-32571306627114185152010-11-04T08:43:00.017-05:002010-11-04T09:34:00.880-05:00It's Raining Ben! Hallelujah! It's Raining Ben!<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcGOtqSUZqNtBY-Z4fUdXnOOb01_anpl_kKoe_vDfunDlm80HGqJyCYG-ELol2OGI5-uO-yICC2pUm1PKiHUfXHWafNYfgdu-HzX2rD7LN4R_bMy0QporOk4HtOFIkWjleNuOy-O59V1c/s1600/Hallejuah.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 293px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhcGOtqSUZqNtBY-Z4fUdXnOOb01_anpl_kKoe_vDfunDlm80HGqJyCYG-ELol2OGI5-uO-yICC2pUm1PKiHUfXHWafNYfgdu-HzX2rD7LN4R_bMy0QporOk4HtOFIkWjleNuOy-O59V1c/s400/Hallejuah.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5535690708263101954" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQiCV1y4gLLILX0-KavywLb6cNEC6YuWpYd9ng8KnNuVz79VgZ0xHS2P9Cakdp9MfIRX0OT-1dX9TnMbhPbmA5X4TM4Y5X15KhPCwD17_pcpfZZS6PJE2ALQUvw3XOYfP7x4uVlmghGPk/s1600/A+hard+rain.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 295px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgQiCV1y4gLLILX0-KavywLb6cNEC6YuWpYd9ng8KnNuVz79VgZ0xHS2P9Cakdp9MfIRX0OT-1dX9TnMbhPbmA5X4TM4Y5X15KhPCwD17_pcpfZZS6PJE2ALQUvw3XOYfP7x4uVlmghGPk/s400/A+hard+rain.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5535690239004443778" /></a><br /><br />"<span style="font-style:italic;">Note to Fed -namby-pamby won't allow you to realize your goals</span>,"<br />-David Ader, CRT Capital<br /><br />Bloomberg: <span style="font-style:italic;">Bernanke said resuming large-scale asset purchases should boost economic growth through larger borrowing costs and <span style="font-weight:bold;">higher stock prices</span> and that concerns about the strategy are "overstated". 'This approach eased financial conditions in the past', Bernanke said</span>.<br /><br />(Bea.gov): <span style="font-style:italic;">Personal income decreased $16.8 billion, or 0.1 percent… Personal current transfer receipts decreased $21.5 billion in September, in contrast to an increase of $35.1 billion in August. The September change reflected the effects of unemployment compensation legislation, which reduced emergency unemployment insurance benefits by $25.5 billion at an annual rate in September, after boosting benefits by $20.5 billion in August…Real disposable income decreased 0.3 percent in September, in contrast to an increase of 0.2 percent in August.</span><br /><br />Quelle surprise! The demand restoration project is still not working. Hoocoodanode?<br /><br />Once again, here are the top ten reasons why this ends in tears or (hopefully not) fireworks...<br /><br />10. Nancy Capitalists in a Sovereign Democracy that are Hell Bent to Seek Rent. <br />9. Although we walk through the Valley of Debt we fear 'No Easing'.<br />8. Socialized Guts will lead to diminished glories.<br />7. Failure to liquidate the insolvent banksters has led to the liquidation of a large part of the productive economy.A taxpayer financed bailout of rich folks' bad speculative bets has resulted in zombie banks and zombie customers... a fiscal tide that lifts no boats.<br />6. The cold hard fact of our age is that the bankrupt ideology of the rich that had greatly succeeded in drafting the inner monologue of regular folks so that they would vote against their self-interests is colliding head-on with a Mr. Market that is a bit pissed off that we've inflated it out of the business cycle for the last quarter century.<br />5. Mr. Hand's strong dollar policy is the chimera of currency debasement masquerading as America's wealth exporting machine that is regularly promulgated by our leaders as an exceptional example of America's resiliency.<br />4. Yes Virginia, there is no collateral.<br />3. The government is 'all in' and can't pull out.<br />2. Employment, inflation, productivity, GDP, and other sundry stats are massaged into irrelevance ... the markets are rigged.<br />1. After World War 2, our blessed leaders, impressed by German 'organizational' skills crafted a policy of manufacture of consent.Over time these techniques moved to the economic realm in an attempt to manufacture content.Federales now risk the manufacture of contempt, for it is only a Great Depression if they say it is. <br /><br />Bernanke institutionalizes the concept of PPT, tinfoil hat comrades?, as the pablum narrative collectively shrugs. The continuation of QE1 is estimated as the equivalent of cutting the fed funds rate by three quarters of a percentage point, per the Fed, and even double this amount would result in no more than a .2 percentage point drop in the unemployment rate by 2011, per Macroeconomic Advisers.<br /><br />One neither need have stayed at a Holiday Inn Express last night nor need have worn a Sherlock Holmes costume on Halloween to deduce that The Fed's mandate of reducing unemployment is unattainable.<br /><br />What then of the fabled stratagem of 'price stability'? Stability where? A special sauce applied to the trillions of bad meatballs at the insolvent banks where the excess reserves are nothing but DIP financing for a generational workout? That's the deflationary chasm that has already been disappeared from the ojos of us mere mortals - QSPEs and VIEs existing only in the realm of the Google Cache. Stability through debasing our standard of living for a Potemkin recovery where the commons can enjoy prices declining in things they want but can't afford and prices rising in things they need but can barely afford? Ah, say our solons, stability per the pablum narrative description of Federales Psych ops, the clever chestnut of 'portfolio balance'. The Divine Might of Wizards through buying bonds will increase the 'demand' for those hell bent to seek rent in equities, thus trickling household wealth and the resultant spending to the surplus eaters.<br /><br />But households only have about 7 trillion in equities and if you calculate equities going up 10% from here that translates into about one-quarter of one percent of GDP.<br /><br />As the Oracle of Eccles goes on his speaking tour over the next few days what will be said is, given the slack in the economy we have to do something... we have the technology to reduce this portfolio... Washington needs to get its' house in order... and the world needs a vibrant and growing America. <br /><br />What won't be said is @#$%^#$#%$% I pray for the day when I can declare victory and walk away.<br /><br /><span style="font-weight:bold;">And the Nancy Capitalists with their chalice of confidence raised toward liquidity's faucet chortle, 'It's Raining Ben! Hallelujah! It's Raining Ben!'</span>Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com8tag:blogger.com,1999:blog-7661188327981862288.post-48715767069319565722010-10-20T09:12:00.014-05:002010-10-20T10:00:10.529-05:00Squircling the drain, the name for our pain?... the inculcation of disdain.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgW6Rs_uyWKleMktNrzcwq0Aj_QSt8wrd_g_6pygOxC-VG0p02K0Zq1q_a565oH-uAtsgv9eGVVOZETUrFedgOBb4jUX591pBvYxqoUWhmaC008PuGn-5TOvtNS5mJ8LLk-nu2Bv_uFzxw/s1600/Tis+good+to+be+white+and+male.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 332px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgW6Rs_uyWKleMktNrzcwq0Aj_QSt8wrd_g_6pygOxC-VG0p02K0Zq1q_a565oH-uAtsgv9eGVVOZETUrFedgOBb4jUX591pBvYxqoUWhmaC008PuGn-5TOvtNS5mJ8LLk-nu2Bv_uFzxw/s400/Tis+good+to+be+white+and+male.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5530142342490936850" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0_FGUrwQ1MgYq6mCiZwCfy3poN-WJjpIqFWwcPtHA3RbqRS-uJ6KXCK9-WnieEYJ46yWl9DjMh3n0x3eVz9DI4MOTakxANiyeW7w559xOZqeStBvo0Xt4kZgaK397HmT1dUs2cYAnoVk/s1600/Honey+where%27s+my+scotch.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 400px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0_FGUrwQ1MgYq6mCiZwCfy3poN-WJjpIqFWwcPtHA3RbqRS-uJ6KXCK9-WnieEYJ46yWl9DjMh3n0x3eVz9DI4MOTakxANiyeW7w559xOZqeStBvo0Xt4kZgaK397HmT1dUs2cYAnoVk/s400/Honey+where%27s+my+scotch.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5530142622724743938" /></a><br /><br />Two generations from the denouement of the summer of love and we've portmanteaued from the counter culture to the culture counter. Today's political discourse akin to the fellas at Stuckey's rippin' on anything that isn't white and male or subservient to same. The grizzly MILVF's, (Mom's I'd Like to Vote For) today's surrogate for dingbat housewife, the cynical pablum narrative akin to the hot meal waiting with scotch properly poured. <br /><br />It's a feedback loop that doesn't stop giving. Besmirch the stupidity and the authors of same use such accusations as proof of their legitimacy. And the press? Trapped in the hell of cognitive dissonance. This just in... the science of ambulation but first a special report from a momma whose back was broken when yonder crack was stepped on.<br /><br />In my life no matter what the pursuit there has always been a line of intellectual demarcation best described as retail and wholesale. Perhaps it is conceit to suggest that the chasm between the two seems wider than I've ever perceived but verily if stupid is as stupid does, the wholesale product has transcended the continuum of criminally stupid or stupidly criminal.<br /><br />Economically we seem damned to exacerbate this Potemkin recovery into something that not even the Divine Might of Wizards can transmogrify. The Great Game as a scum scrum for the crumbs. The unarmed combatants staring at their impotent swords of currencies like Black Knights. Even if reality were to declare the 'fight is mine' the solons would proclaim it to be naught but a flesh wound as they launched the middle class, their chests as cannons, at the great whale of deflation. <br /><br />Politically, the devils in red dresses, manchurian candidates of the fear industrial complex whose denizens are uniformly hell bent to seek rent, employing 'common' wisdom for the 'common' man for purposes of anything but the commons. Verily, they will hand power to the elites in a way that will beggar credulity all the while being incredulous at any treatises of reasons that might suggest contrary.<br /><br />Not only must the windfall apples be reserved for the more equal of brainworkers but the tree of egality must be refreshed with the blood of your standard of living.<br /><br />After World War 2, our blessed leaders, impressed by German 'organizational' skills crafted a policy of manufacture of consent.Over time these techniques moved to the economic realm in an attempt to manufacture content.Federales now risk the manufacture of contempt, for it is only a Great Depression if they say it is.(AM Rule #1) <br /><br /><span style="font-weight:bold;">Squircling the drain, the name for our pain?... the inculcation of disdain.</span><br /><br />*%&$^# Eh what the hell.... Honey? Where's my scotch!Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com1tag:blogger.com,1999:blog-7661188327981862288.post-45087921879879801752010-10-14T09:22:00.028-05:002010-10-14T10:28:21.695-05:00Sipping sweet ambrosia from the skull cap of the common man.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFeHwRgzQqG4HpIi5qD6w4fEGQ50eEaIakQ39nKLNXJxm8eQz6AQ__7jd13O4kEJyGE5YeUB6Q2l-cl4xasSPHzIbs3aOmg4KmrZa3jvjj1y3NUoF5TKAldnCipDsDm5LAqxPpKCgf4I/s1600/Sipping+sweet+ambrosia.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 172px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWFeHwRgzQqG4HpIi5qD6w4fEGQ50eEaIakQ39nKLNXJxm8eQz6AQ__7jd13O4kEJyGE5YeUB6Q2l-cl4xasSPHzIbs3aOmg4KmrZa3jvjj1y3NUoF5TKAldnCipDsDm5LAqxPpKCgf4I/s400/Sipping+sweet+ambrosia.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5527908470517251666" /></a><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuQPs1KfsJRcJOkUn2s69gn5YUIMEv7db8AL4fVvAgeCnsE3Vdx35dZfxVndOqfddOSpX1GalNNlVsfjfT1jVf7jXtkvcIiWkKsknO4BBYcfNh_LomYBnoFlrgBlzZq7_g-KS8cIy0r7c/s1600/sam+on+fire.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 300px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuQPs1KfsJRcJOkUn2s69gn5YUIMEv7db8AL4fVvAgeCnsE3Vdx35dZfxVndOqfddOSpX1GalNNlVsfjfT1jVf7jXtkvcIiWkKsknO4BBYcfNh_LomYBnoFlrgBlzZq7_g-KS8cIy0r7c/s400/sam+on+fire.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5527908896001353682" /></a><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvLufa7z9r_aa8lUYFqKc7KRI6m8lWP8FN5rd_qr4ZUmMQxW9zdYfqc3xtnuqfz8rCvC4S8bVcViyweQjTP4QiwFBn36b6iSVblzTWudE9kdBRl4AawCxgHua8CkCPFZ6XsqRrGDBb9wA/s1600/drink+up.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 260px; height: 350px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvLufa7z9r_aa8lUYFqKc7KRI6m8lWP8FN5rd_qr4ZUmMQxW9zdYfqc3xtnuqfz8rCvC4S8bVcViyweQjTP4QiwFBn36b6iSVblzTWudE9kdBRl4AawCxgHua8CkCPFZ6XsqRrGDBb9wA/s400/drink+up.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5527914447645045762" /></a><br /><br />'<span style="font-style:italic;">Bernanke and his ilk are not just trying to boost the US economy, they are trying to salvage their reputations and theories. The crime is that they are savaging average Americans and have bet the country in a desperate attempt to prove that they know best</span>.'<br /> -Bill King, the King Report 10/14/2010<br /><br />'<span style="font-style:italic;">The effect of QE2 on interest rates could be small and limited to an announcement effect...many believe that the effect on output or employment would be small...unlikely to stimulate aggregate demand...little effect on aggregate demand implies a corresponding small effect on output and, hence employment. QE2 could have adverse effects</span>.'<br />-Federal Reserve Bank of St. Louis <br /><br />'<span style="font-style:italic;">The folks at the Fed are frozen in fear. They don't know what to do</span>.'<br />-Chris Whalen<br /><br />'<span style="font-style:italic;">But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition. For the love of money is the root of all evil...</span>'<br />- 1 Timothy 6:9-10<br /><br />'<span style="font-style:italic;">There hath no temptation taken you but such as is common to man...</span>'<br />- 1 Corinthians 10:13<br /><br />'Don't Task Don't Smell', the central plank of the 'I Can't Believe it's Not Capitalism Plan', has given us Sugar Mountain, where stupidity is cupidity.<br /><br />Ringfencing the multitude through financial pulchritude is but Federales psych ops, masquerading debasement as growth, as the plutocracy sips sweet ambrosia from the skull cap of the common man.<br /><br />Phat, Plummed and Cupid is no way to go through strife son. Mr. Hand's strong dollar policy is the chimera of currency debasement masquerading as America's wealth exporting machine that is regularly promulgated by our leaders as an exceptional example of America's resiliency(AM Rule #5). Timmy G even takes credit for the creation of the 'strong dollar' policy.'Nuff said!<br /><br />As the epigram, 'Yes Virginia , there is no collateral' becomes an accepted norm, as the metaphorical fork in the middle of the road er scratch that kicked can hangs with horsehair, the splinter of our disconnect in the deep bosom of our equity buried is proclaimed by the Federales as nothing but a thorn discovered as they fervently hope not to be cast to the lions.<br /><br />Is it Back to the Future of folly and bubbles or Fade to Back as we peer down the chasm of the black diamond demographic? Building a bridge to nowhere is at least doing something, but please don't peer down dear citizens lest ye randomwalkers realize the gravity of our situation.<br /><br />The Oracle at Eccles and assembled throngs of Nancy Capitalists beseech their models that show 100% chance of 'no fail' when the money is easy and free to deliver them like Aesop's Shepherd so when the masses see that which healed them, they will pardon and not attack.<br /><br />Golden goose or scrambled eggs?<br /><br />The answer it would seem as we destroy our standard of living to create a Potemkin recovery, is both, in an ever increasing divergent measure.<br /><br />The insouciance of elites and the Antoinette economy.<br /><br />Verily, let them eat debt.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com1tag:blogger.com,1999:blog-7661188327981862288.post-31748121679797987302010-10-08T08:49:00.028-05:002010-10-08T09:54:34.415-05:00Fed for the people, chasing Bennie's steeple, gathereth the reapers.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZgfCKWVM8604UyrFaF-8KqZMKP8afpNUfYEQQcw_BXobSZUAbaztyr7cLZctnEIrjj9ZQ1gFsV2kGGkB7C6ZGmEw2KF0rMzAHhyphenhyphenWWx6y8qihN_S5FolPp8-7DMkclG1_VNDdcAyjQppA/s1600/Mr.+Market+...+I+know.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 300px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZgfCKWVM8604UyrFaF-8KqZMKP8afpNUfYEQQcw_BXobSZUAbaztyr7cLZctnEIrjj9ZQ1gFsV2kGGkB7C6ZGmEw2KF0rMzAHhyphenhyphenWWx6y8qihN_S5FolPp8-7DMkclG1_VNDdcAyjQppA/s400/Mr.+Market+...+I+know.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5525676966364387202" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-9A330Lx9X8lAdDE-L7pIZcSQkRdBydu7boKbE9u5fIY68PdToEGK4-z67CZTwxqXrg55z5q2DD3UTAH9BEhuf2hLA4l1-htdS0b5cuNGCxZpUffLGhiQqQckKyzpdBIxRfskUVjpJ98/s1600/monetary+or+fiscal.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 300px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-9A330Lx9X8lAdDE-L7pIZcSQkRdBydu7boKbE9u5fIY68PdToEGK4-z67CZTwxqXrg55z5q2DD3UTAH9BEhuf2hLA4l1-htdS0b5cuNGCxZpUffLGhiQqQckKyzpdBIxRfskUVjpJ98/s400/monetary+or+fiscal.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5525681363908417090" /></a><br /><span style="font-style:italic;"><br />'As we have been asserting, the FED continues to apply QE, despite it official announcement that Q.E 1.0 ended two quarters ago. For the week ended on Wednesday, the Fed balance sheet increased $9.358B due to the monetization of $7.390B of Treasury notes and an increase of $2.248B of 'assets denominated in foreign currencies' (footnote #13; currency swaps?)</span>'<br />-The King Report, Issue 3856, October 8,2010<br /><br /><span style="font-style:italic;">...He that gathereth not with me scattereth...</span><br />- Matthew 12:30<br /><br />Faced with the surplus eaters rubbing sus ojos Bernanke had to fire up the psych ops jets after the Jackholios shrimpfest.<br /><br />The Diving Might of Wizards again on display, gangbanging the string framed as many easings away, the levers of debasement screened whilst shadowfoxing the fray, all in the blind hope that we can avoid anchors aweigh.<br /><br />"Bennie-boy, whaddaya say there pal of mine ?"<br /> <br />"You know Mr. Market, I've been watching you. <br />And I know you've been watching me.<br />You watch me! I know!"<br /> <br />"So, Bennie, what are you gettin' at?"<br /> <br />"Mr. Market, my friend!<br />How would you like to pump me up the curve?"<br /> <br />"I know you wanna pump me, Market!"<br /> <br />"And you know that I know that you know<br />that I know that you wanna pump me!"<br /> <br />"Now I'm gonna leverage up,<br />and when I do, start pumpin'!"<br /><br />And yet there is dissension in the chattering class of Nancy Capitalists, who with their chalice of confidence half-empty, parry like duck and rabbit.<br /><br />'Fiscal Stimulus! Monetary Stimulus!'<br /><br />'Fiscal Stimulus! Monetary Stimulus!'<br /><br />'Monetary Stimulus!'<br /><br />Pause<br /><br />'Fiscal Stimulus!'<br /><br />Verily they are all despicable. The struggle of virtue and vice is writ large as the debate between deflationistas and debasionistas. The former pines for reason before farce, the latter embraces the tragedy.<br /><br />The Oracle at Eccles contemplating Rallye's mend at Recession's end scratch that Depression's bend. <br /><br />To QE, or not to QE: that is the question:<br />Whether 'tis nobler in the markets to suffer<br />The slings and arrows of outrageous fortune,<br />Or to halt QE against a sea of troubles,<br />And by opposing end the rally?<br /><br />To short: to buy;<br />No more; and by buy to say we end<br />The heart-burn of the thousand little trades<br />That this office is heir to, 'tis a consummation<br />Devoutly to be wish'd. <br /><br />The butterfly wings of the banksters reflected back by the synarchy of the squatters reflected back by the imperfection of collateral liens reflected back by the political palliative of misdirection through scapegoating.<br /><br />Now is the splinter of our disconnect<br />Made glorious summer by this sun of Ben;<br />And all the clouds that lour'd upon our house<br />In the deep bosom of our equity buried.<br /><br />At this point at the end of the trend - 2009 low besting the 2002 low breaking a line of lower lows from 1897 up- our prosperity is now in the hands of Fleck's battle of unarmed combatants (currencies) where the U.S. is the dealer (reserve), at least for the near term.<br /><br />It is not so much a race to the bottom as it is a pace to a bottom. QE2 can't sail until Euroland hits the rocks again. We can't let their upcoming crisis go to waste.<br /><br />In choosing 'prophetic' models with a track record of failure we are mortgaging the ability to be masters of our fate. To foresee a future that rhymes with a past is not, as the pablum narrative whines, to refute self-determination but ironically such recognition would harness the same to shape the unknown to a more benevolent conclusion.<br /><br />Deficits do matter, belief in a random deliverance is foolish, better to accept a mandatory across the board cut and employ a fair and flat tax.<br /><br />Free market statistics that are transparent and real allow the free market to allocate resources productively and intelligently.<br /><br />Creative destruction is the progenitor and the instigator of the wealth creating mechanism of capitalism.<br /><br />Empires are not eternal. The hard fought blessings of liberty are secured by the prudent not the profligate.<br /><br />Years from now all this, and most assuredly more, will be obvious and this chapter in history, marked by excesses and folly, will be seen as similar to the ones preceding.<br /><br /><span style="font-weight:bold;">Fed for the people, chasing Bennie's steeple, gathereth the reapers.<br /></span><br />We will kick the can until the can kicks us.<br /><br />"Bennie-boy, whaddaya say there pal of mine ?"Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com1tag:blogger.com,1999:blog-7661188327981862288.post-81358773321344567762010-09-30T12:07:00.018-05:002010-09-30T13:11:33.844-05:00The greatest part of mankind have no other reason for their opinions than that they are in fashion.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVgraZiALg_sqH7zHLkM7rsQbC7Bubo7pKhGOHoVUn3BH4nRUimkgAyf2Aq_6mjMckmIl6Lv88fSMqjGHx4QptCVOqhp-vszYAgBJCqxPwuofGFnJq3bAo85S9m64Y4NCyKqmvoXC-Wdc/s1600/free+your+mind.JPG"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 300px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVgraZiALg_sqH7zHLkM7rsQbC7Bubo7pKhGOHoVUn3BH4nRUimkgAyf2Aq_6mjMckmIl6Lv88fSMqjGHx4QptCVOqhp-vszYAgBJCqxPwuofGFnJq3bAo85S9m64Y4NCyKqmvoXC-Wdc/s400/free+your+mind.JPG" border="0" alt=""id="BLOGGER_PHOTO_ID_5522768896473748658" /></a><br /><br /><br />'<span style="font-style:italic;">To say of what is that is not, or of what is not that it is, is false; while to say of what is that it is, and of what is not that is not, is true</span>.' -Aristotle<br /><br />'<span style="font-style:italic;">The greatest part of mankind have no other reason for their opinions than that they are in fashion.</span>' -Samuel Johnson<br /><br />'<span style="font-style:italic;">A man can get to love shit if his livelihood depends on it, if his happiness is involved.</span>' -Henry Miller<br /><br />'<span style="font-style:italic;">Free your mind</span>.' -Morpheus<br /><br /><br />Just for giggles took a look at the Investment Company Institutes Long term Mutual Fund Flows Historical Data at http://www.ici.org/pdf/flows_data_2010.pdf<br /><br />April 2009 through August 2009 : 55.832 billion in<br />September 2009 through December 2009 : 23.271 billion out<br />January 2010 through April 2010 : 39.131 billion in<br />May 2010 through September 2010 : 72.958 billion out<br /><br />So since April 2009 we have net approx... 1 billion out. With the week ended 9/22/2010 being 1.9 billion out that means we broke even (from April 2009) a few days ago.<br /><br />Bwahahahahahahaha!<br /><br />You just have to hand it to 'em. When it was clear to many of us discerning folk that the wheels were going to come off hard, the silver lining perceived was that sobriety and propriety would return. In fact the exact opposite has occurred. The Federales turned the psych ops up to 11, the plutocracy expounding the Big Lie in a manner and scope that has truly beggared the imagination of us mere surplus eaters.<br /><br />Lies of course have consequences. When this ends is known to no one. How it ends seems fairly clear. The denouement of the trusted, the sound of great applause lauding folly, and then a long period of silence. <br /><br />In many ways it is the age old story of Emperors and Pirates, deflation being the Jolly Roger, and a headlong drive into oblivion with the argument that forcing the issue will resolve it. Rummy's chestnut of "If you can't solve a problem, make it bigger' is exemplified by replacing mojo with POMO and the fraudulent conveyance that is gubmint statistics.<br /><br />But there are unknown unknowns.<br /><br />What we do not know that we don't know is how the continuing liquidation of Main Street and bifurcation of America will interact with the bankrupt ideology of the rich that had greatly succeeded in drafting the inner monologue of regular folks so that they would vote against their self interests and are trying to do it again.<br /><br />What we do not know we don't know is what the long finger of instability from the Hand will ultimately do to the markets and the economy that are still the home of the brave but alas are now a different land.<br /> <br />The Pump and Happenstance that is the bedrock of Nancy Capitalism is killin' Sam, the wafting asset values per debasement lubricating sovereign democrats that are hell bent to seek rent.<br /><br />The elitist insouciance of thanking the heavens for the bank bailouts as Bernanke promises to monetize cows to increase the price of milk is manufacturing a chasm of contempt at recession's end... er scratch that... depression's bend. <br /><br />Eventually something's got to give.<br /><br />With arms extended, if it may please the court, I present the real unemployment rate in this country. <br /><br />Over 30%.<br /><br />Have been following (http://cwcs.ysu.edu/resources/cwcs-projects/defacto) for awhile ... kids say the damnedest things don't they?... and what is germane for historical purposes is that the defacto rate of 30% is actually 5 percentage points higher than the worse unemployment levels experienced in the Great Depression Volume 1. In addition, at least per this fella's research,the defacto rate is the most similar measurement to the metric used back then which was as follows: individuals who had at some time worked in an occupation in which they earned money or the equivalent, or in which they assisted in the production of marketable goods, whom were unemployed. The only caveat is that back then, in some instances, 14 and 15 year olds were included in the unemployment rate. <br /><br />Let me tell you why you're here gentle reader. You're here because you know something. What you know you can't explain, but you feel it. You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad. It is this feeling that has brought you to me. Do you know what I'm talking about? <br /><br />It is the splinter of our disconnect.<br /><br />Free your mind.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-25870934632166389462010-09-28T09:00:00.018-05:002010-09-28T09:26:54.656-05:00Hey... do you think we can export to them? Does Mars need bonds? Bwahhahahahaha...<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh22Dur2_ioDMDNDK8Ro6UjvBC9bOtKYYslCCRXyv7UM9Z7Aa0q2vGSCQ46M4yZNzjmRWki56bUli-W2MoP1kIuI9Fv74aQnbfyo3XN6BoWgfhiYjSemI2r7YiqK_I_wQBZ3pmYsdXpJaU/s1600/does+mars+need+bonds.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 318px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh22Dur2_ioDMDNDK8Ro6UjvBC9bOtKYYslCCRXyv7UM9Z7Aa0q2vGSCQ46M4yZNzjmRWki56bUli-W2MoP1kIuI9Fv74aQnbfyo3XN6BoWgfhiYjSemI2r7YiqK_I_wQBZ3pmYsdXpJaU/s400/does+mars+need+bonds.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5521970280055843426" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6ekV3kDANMjeNiQalpfT6SMPe_-7OUpk4lkOdr1DKyy0K6t9npZDAbgs8pWTnLnPquHelmvebe-20q7VQiIfV9BffqyrFfVEuUEfUS6nSq-4RnYWKUtknTkiXaVRLFhp2RZo_UEMqhoE/s1600/Export+to+Mars.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 275px; height: 380px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6ekV3kDANMjeNiQalpfT6SMPe_-7OUpk4lkOdr1DKyy0K6t9npZDAbgs8pWTnLnPquHelmvebe-20q7VQiIfV9BffqyrFfVEuUEfUS6nSq-4RnYWKUtknTkiXaVRLFhp2RZo_UEMqhoE/s400/Export+to+Mars.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5521966202374101330" /></a><br /><br />Guardian : <span style="font-style:italic;">Is the United Nations about to appoint Malaysian astrophysicist Mazlan Othman as the ambassador to extraterrestrial intelligences? Yesterday, the Sunday Times published an article claiming that Othman is expected to announce her proposed new role at a meeting of the Royal Society next week. According to the article, the plan to make Othman and the UN's Office for Outer Space Affairs which she heads, the first point of contact will be debated by UN scientific advisors before heading to the general assembly. Turns out though that the newspaper, and dozens of other media outlets that rewrote the same story, may have jumped to some conclusions. Today, Othman emailed The Guardian, "It sounds really cool but I have to deny it.</span>" <br /><br />'<span style="font-style:italic;">Until such time as planet Earth learns to export to Mars, every national surplus must be offset somewhere else with a matching deficit.</span>'<br />-Jim Stanford<br /><br />'<span style="font-style:italic;">And pray that there's intelligent life somewhere up in space, 'Cause there's bugger all down here on Earth</span>.'<br />-Monty Python <br /><br />'<span style="font-style:italic;">Where's the kaboom? There was supposed to be an earth-shattering kaboom!</span>'<br />-Marvin the Martian <br /><br />'<span style="font-style:italic;">The US Airforce assures me that UFO's pose no threat to National Security.</span>'<br />-President John F Kennedy<br /><br />"<span style="font-style:italic;">I looked out the window and saw this white light.It was zigzagging around. I went up to the pilot and said,Have you ever seen anything like that? He was shocked and he said, "Nope." And I said to him: "Let's follow it!" We followed it for several minutes. It was a bright white light.We followed it to Bakersfield, and all of a sudden to our utter amazement it went straight up into the heavens. When I got off the plane I told Nancy all about it.</span>"<br />-President Ronald Reagen (Describing his 1974 UFO encounter to veteran newsman Norman C. Miller, then Washington bureau chief for the Wall Street Journal.) <br /><br /><span style="font-style:italic;">'I'm not at liberty to discuss the governments knowledge of extraterrestrial UFO's at this time. I am still personally being briefed on the subject</span>"<br />-President Richard M. Nixon<br /><br />"<span style="font-style:italic;">The phenomenon of UFOs does exist, and it must be treated seriously.</span>"<br />-Mikhail Gorbachev<br /><br />From the UK Telegraph: <br /><br />Aliens have landed on earth, infiltrated British and American nuclear missile sites and sabotaged weapons, according to US Air Force officers. <br /><br />The beings have repeated their efforts in the US and have been active since 1948, the men said, and accused the respective governments of trying to keep the information secret.<br /><br />The unlikely claims were compiled by six former US airmen and another member of the military who interviewed or researched the evidence of 120 ex-military personnel.<br /><br />The information they have collected suggests that aliens could have landed on Earth as recently as seven years ago.<br /><br />The men's aim is to press the two governments to recognise the long-standing extra-terrestrial visits as fact.<br /><br />They are to be presented on Monday 27 September at a meeting in Washington.<br /><br />One of the men, Capt Robert Salas, said: "The US Air Force is lying about the national security implications of unidentified aerial objects at nuclear bases and we can prove it."<br /><br />He said said he witnessed such an event first-hand on March 16, 1967, at Malmstrom Air Force Base in Montana which housed Minuteman nuclear missiles.<br /><br />Capt Salas continued: "I was on duty when an object came over and hovered directly over the site.<br /><br />"The missiles shut down - 10 Minuteman missiles. And the same thing happened at another site a week later. There's a strong interest in our missiles by these objects, wherever they come from. I personally think they're not from planet Earth."<br /><br />Others claim to have seen similar activity in the UK.<br /><br />Col Charles Halt said he saw a UFO at the former military base RAF Bentwaters, near Ipswich, 30 years ago, during which he saw beams of light fired into the base then heard on the military radio that aliens had landed inside the nuclear storage area.<br /><br />He said: "I believe that the security services of both the United States and the United Kingdom have attempted - both then and now - to subvert the significance of what occurred at RAF Bentwaters by the use of well-practised methods of disinformation."<br /><br />The site was then the base of the US 81st Tactical Fighter Wing.<br /><br />Capt Bruce Fenstermacher, a former US Air Force officer, also claims he saw a cigar-shaped UFO hovering above a nuclear base in Wyoming in 1976.<br /><br />Story #2<br /><br />Six retired officers and one former non-commissioned officer claim to have gathered witness testimonies from more than 120 military personnel revealing the infiltration of nuclear sites by aliens as recently as 2003.<br /><br />In some cases, nuclear missiles supposedly malfunctioned while a disc-shaped object hovered nearby.<br /> <br />Captain Robert Salas, a former Intercontinental Ballistic Missile Launch officer, said he was on duty during one missile disruption incident at Malmstrom Air Force Base in Montana in 1967.<br /><br />“An object came over and hovered directly over the site,” he said.<br /><br />“The missiles shut down – 10 Minuteman missiles. And the same thing happened at another site a week later. There’s a strong interest in our missiles by these objects, wherever they come from.<br /><br />“I personally think they’re not from planet Earth.”<br /><br />He said he was ordered to never discuss it: “The US Air Force is lying about the national security implications of unidentified aerial objects at nuclear bases and we can prove it.”<br /><br />Colonel Charles Halt said he watched Unidentified Flying Objects directing beams of light into RAF Bentwaters airbase near Ipswich and heard on the radio that they landed in the nuclear weapons storage area.<br /><br />Col Halt said: “I believe that the security services of both the United States and the United Kingdom have attempted – both then and now – to subvert the significance of what occurred at RAF Bentwaters by the use of well-practised methods of disinformation.”<br /><br />Story #3<br /><br />The group of officers said they would distribute declassified government documents on Monday that would prove there had been alien interference at nuclear weapons sites stretching back to 1948. <br /><br />Robert Hastings, a long-time UFO researcher, who collated the information, said at a press conference in Washington that “this planet is being visited by beings from another world who for whatever reason have taken an interest in the nuclear arms race”.<br /><br />He claimed to have gathered witness testimony from more than 120 military personnel showing infiltration of nuclear sites. Six retired officers and one former NCO spoke of their personal experiences.<br /> <br />In some cases, nuclear missiles supposedly malfunctioned while a disc-shaped object hovered nearby. Although the officers produced fresh affidavits detailing their experiences, the incidents, many of them the 1960s, had previously been publicised by UFO enthusiasts. Some of them were first disclosed decades ago.<br /><br />Mr Hastings stated that beings from UFOs had also tinkered with Soviet nuclear weapons and speculated that the aliens had been seeking to send “a sign to Washington and Moscow that we are playing with fire”.<br /><br />Captain Robert Salas, a former US Air Force Inter-continental Ballistic Missile Launch officer, said he was on duty during one missile disruption incident at Malmstrom Air Force Base in Montana in 1967 when a “large glowing, pulsating red oval shaped object” hovered over the front gate.<br /><br />He then noticed that the Minuteman missiles he was overseeing had shut down. “The indicators for all or nearly all 10 missiles showed as red-coloured ’fault’ lights, which meant that the missiles were disabled and could not be launched.”<br /><br />He said he was ordered not to discuss the matter but was never given an explanation by his superior officers.<br /><br />In another case in Britain, Colonel Charles Halt said that in 1980 he watched a UFO directing beams of light down into the RAF Bentwaters airbase near Ipswich.<br /><br />His security team “observed a light that looked like a large eye, red in colour, moving through the trees”. After a few minutes “this object began dripping something that looked like molten metal. A short while later it broke into several smaller, white-coloured objects which flew away in all directions.”<br /><br />Sceptics pointed out that there was a lighthouse nearby but Col Halt maintains that the objects were “extraterrestrial in origin” and that “the security services of both the US and the UK have attempted – both then and now – to subvert the significance” of what happened near Ipswich.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com1tag:blogger.com,1999:blog-7661188327981862288.post-52007734454911077212010-09-25T09:51:00.026-05:002010-09-25T10:53:57.992-05:00Sacred Profanities, Bonfire of the Banalities, Fiscal er Psych Op Insanities ... It's a madhouse.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzrJgvQCZJhb94ml4HT0oJMBff9mskWQfEQeCkt7WJbk8jP-jjIHd-d0VfOd9tgMkJc8tewoPZr0VztcGJNvSV-Hngug8P6XvK8wAPodnasMyoJd_KJrY9XPwiPot4WSo582sYAgztQso/s1600/its+a+madhouse.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 309px; height: 400px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjzrJgvQCZJhb94ml4HT0oJMBff9mskWQfEQeCkt7WJbk8jP-jjIHd-d0VfOd9tgMkJc8tewoPZr0VztcGJNvSV-Hngug8P6XvK8wAPodnasMyoJd_KJrY9XPwiPot4WSo582sYAgztQso/s400/its+a+madhouse.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5520879294466408354" /></a><br /><br />'<span style="font-style:italic;">Make the lie big, make it simple, keep saying it, and eventually they will believe it.</span>'<br />-Adolph Hitler<br /><br />'<span style="font-style:italic;">There are a lot of people who lie and get away with it, and that's just a fact</span>.'<br />-Donald Rumsfeld<br /><br /><span style="font-style:italic;">'Repetition does not transform a lie into a truth.'</span><br />-Franklin D. Roosevelt<br /><br />'<span style="font-style:italic;">During times of universal deceit, telling the truth becomes a revolutionary act. Political language. . . is designed to make lies sound truthful</span>.' <br />-George Orwell<br /><br />'<span style="font-style:italic;">The first casualty of war is not truth, but perspective. Once that's gone, truth, like compassion, reason, and all the other virtues, wanders around like a wounded orphan.</span>'<br />- Ente Grillenhaft<br /><br />'<span style="font-style:italic;">The 1st panacea of a mismanaged nation is inflation of the currency; the 2nd is war. Both bring a temporary prosperity; a permanent ruin.</span>'<br />-Ernest Hemingway<br /><br />'<span style="font-style:italic;">I just want you to know that, when we talk about war, we're really talking about peace.</span>'<br />-George W. Bush<br /><br />"<span style="font-style:italic;">We're not going to monetize the debt.</span>" <br />-Ben Bernanke<br /><br />'<span style="font-style:italic;">We are never deceived; we deceive ourselves.</span>'<br />-Johann Wolfgang von Goethe <br /><br /><br />Left the Cubs game at the earliest point, (fourth inning - they were being clubbed by the Cardinals), that this fella has ever remembered abdicating his first row seat. But stayed long enough to listen (covertly) to a group of VIPs discuss their plans on renovating Wrigley, how the ivy was loosely covered under the declarations of the National Registry, how any modifications would need to keep up the appearance that things really hadn't been changed much, and how perceptions needed to be handled both in Washington and Clark & Addison whilst maximizing revenue.<br /><br />True profanity to the ears of a worshiper at the shrine of futility.<br /><br />And also a fractal writ large of the daily Vaudevillian interplay of the comics (WSJ and FT). Verily, 'tis a war against the future. <br /><br />The dividing lines have been drawn, on one side are the Naysaying Nabobs of Nancy Capitalism that, with beige books extended, are unwavering in their dogma that Chairman Ben will perpetually liquefy their chalice of confidence, and on the other side are the few the proud, the misfits... the Atticus Finchs that believe that reality is the tail risk. With arms extended they proclaim : We are not idealists to believe firmly in the integrity of our economic system. That’s no ideal to us. That is a living, working reality! Now we are confident that you Mr. Market will review without passion the evidence that you have heard, come to a decision, and will uh, uh, well, uh ... <br /><br />Then they stop and scratch their head and say ... the government is all in isn't it?<br /><br />The Office of Economic Influence headed by the Oracle at Eccles like all progenitors of psych ops has to, by necessity, weigh whether the harm done through their deception offsets the good that same, purportedly, will accomplish.<br /><br />Continual disinformation can result in damaging blowback, and most certainly the denouement of the trusted is a high-priority target to be avoided lest the surplus eaters start to believe their lyin' ojos and reject the Divine Might of Wizards. <br /><br />As Napolean once opined : 'There are but two powers in the world, the sword and the mind. In the long run the sword is always beaten by the mind.' The horsehair splintering for the Federales cum Svengalis is to negate the cycles and learn from the historical chestnut that in 1929 the top 1% of households represented 44.2% of wealth and in 1933 they represented 33.3%.<br /><br />Psychological operations are planned operations to convey selected information and indicators to audiences in order to influence their emotions, motives, objective reasoning, and ultimately their behavior. <br /><br />If inflation expectations are unanchored, then a severe recession can lead to a deflationary spiral. The logic is as follows: In the early stage of recession, the emergence of slack causes the inflation rate to dip. The resulting lower inflation rate prompts people to reduce their future inflation expectations. Continued economic slack causes the inflation rate to fall still further. If the recession is severe and long enough, this process eventually will cause prices to fall and then spiral lower and lower, resulting in ever-faster deflation rates. <br /><br />And much like 'modifying' the ivy on the walls at Wrigley deflation is true profanity to the ears of a worshiper at the shrine of liquidity.<br /><br />The struggle of virtue and vice is writ large as the debate between deflationistas and debasinistas. Ones' lens depends on what one means by ones' ends. The deflationistias mean that deflation is the midwife of hyperinflation. The debasinistas pray that familiarity breeds content and not contempt.<br /><br />So tell me Morpheus how can they camouflage debasement in a no-stimulus zeitgeist?<br /><br />Friday's King Report:<br /><br />'The Fed did a major juicing of the system by adding $11.059B for the week ending on Wednesday. More importantly, the Fed’s balance lost only $361m of MBS. It’s inconceivable that the Fed received $10+B of interest or principal prepayments on its $1.09 trillion of MBS in one week.<br /><br />The Fed monetized $10.461B of Treasuries. The NY Fed has done $20.887B of POMOs, which are Treasury monetizations. There is a POMO scheduled for today as well as Tuesday and Thursday of next week. (http://www.newyorkfed.org/markets/pomo/display/index.cfm?showmore=1&opertype=orig)<br /><br />The size of POMOs has increased the past two weeks. So the Fed is on pace to monetize $30+B of Treasuries for September. This is almost a 34% yield on its $1.09 trillion MBS portfolio – less the amount of principal repayments, which we don’t know because the Fed won’t tell anyone.(http://www.newyorkfed.org/markets/agency_agencymbs_faq.html)<br /><br />The latest H.4.1 shows the Fed is monetizing Treasuries far in excess of the decline in MBS value. We’d love to see proof that principal repayments and interest in 1 year can be 34% of a MBS portfolio. Ergo, the Fed is monetizing Treasuries far in excess of its stated monetization of MBS interest and principal prepayments. The Fed has increased its QE 1.0 activity. <br /><br />As we keep screaming, QE 1.0 has not ended despite official proclamation that it had. The bottom line is Bernanke and the Fed have been lying about the scope and nature of it - QE/debt monetization.'<br /><br />Thanks for the Red pill Mr. King.<br /><br />Damn dirty apes.<br /><br />It's a madhouse.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com3tag:blogger.com,1999:blog-7661188327981862288.post-42404290084844626802010-09-18T10:19:00.011-05:002010-09-18T10:26:54.889-05:00The United States of America LLC<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgLccpLyFYjQFG1F_hZnZjkOgKTvWlliSJTse3R-_qhSuUzJ8yDWcBdRvNtCK51CAxhT7BhZ9BXMvi63sRbdELIvUE-b-YNzRGa5tRxXw0yBN-Dzyt6JyJTZ04rE46o2yRp2AcAiULkXN8/s1600/united+states+of+america+llc.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 275px; height: 400px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgLccpLyFYjQFG1F_hZnZjkOgKTvWlliSJTse3R-_qhSuUzJ8yDWcBdRvNtCK51CAxhT7BhZ9BXMvi63sRbdELIvUE-b-YNzRGa5tRxXw0yBN-Dzyt6JyJTZ04rE46o2yRp2AcAiULkXN8/s400/united+states+of+america+llc.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5518273977825254034" /></a><br /><br />'<span style="font-style:italic;">Fearful people are more dependent, more easily manipulated and controlled, more susceptible to deceptively simple, strong, tough measures and hard-line postures. They may accept and even welcome repression if it promises to relieve their insecurities.</span>'<br /> - George Gerbner<br /><br />Liberalism is the belief in the importance of equality and liberty. It promulgates reason as the primary source for legitimacy and authority. It stands in direct opposition to religion endorsed by the state, and plutocracy, the modern equivalent of absolute monarchy and the Divine Right of Kings.<br /><br />The American Revolution (can you hear me Mr. Teabag?) promulgated liberal philosophy as their justification in rising up against the Crown.<br /><br />Civil rights, individual liberties, the peaceful coexistence of different lifestyles and interests, where the common good can be achieved on the battlefield of dialogue, where power is not concentrated, and mutual respect and tolerance are exhorted... that's liberalism folks.<br /><br />The antithesis of liberalism is elite theory where the windfall apples need be reserved for the more equal brain workers.<br /><br />And what is conservatism?<br /><br />As Robert Eccleshall once opined : 'It is the persistent image of society as a command structure in which the responsibilities of leadership can be exercised within the framework of a strong state manifested in divine-right royalism.'<br /><br />Deference to authority, traditional institutions, an opposition to modernism, a yearning for the 'good old days', and advocacy of minimalistic change is the bedrock of conservative opinion.<br /><br />British Psychologist Glenn Wilson stated per his book, 'The Psychology of Conservatism' (1973), that a general factor underlying conservative beliefs is "fear of uncertainty."<br /><br />To apply these categories, ontologically, to today's conservative and liberal is challenging to say the least.<br /><br />A conservative president embarking on nation building with the aplomb of a bong-addicted college liberal? Hey we didn't put up that Mission Accomplished sign, we have no idea how it got there. Democracy is on the march dude!<br /><br />A liberal president advocating Potemkin health reform, approximately a third a trillion to the insurance industry over 10 years, decried by conservatives, whose last president prescribed 8 trillion in unfunded benefits, as socialism? The same president lauding nearly a hundred billion in weapons as a jobs creation program?<br /><br />An ubiquitous bankster friendly policy, (although to be fair Bush just gave Paulson the keys, Barry Dunham actually had a stronger hand on the rudder) where trillions in rich folks' bad speculative bets were swept under the FASB? And a continuing national discourse squabbling about nickels as the banksters steal gold bars out the back?<br /><br /><span style="font-weight:bold;">The liberal welfare state? Who's zoomin' whom? Welfare is most certainly not just for liberals in the United States of America LLC.</span><br /><br />And our <koff,koff> popular uprising du jour, crying for NIMBY libertarianism, denouncing the welfare state, save of course for the payments they are entitled to receive, and sickened by the socialism er fascism er well whatever ism 'tis is ... don't get all high-falootin' on me ya book-reading left coast effete... all we know is we don't like it!<br /><br />It is curious though that few if any of the Tea-baggin' crowd would describe themselves as liberal and yet they seem to be drawn from the well of classic liberalism, as were our Founding Fathers, opposing elitism which ironically the ideology of the rich have conflated for them as today's liberalism.<br /><br />The end-game of their protestations, most probably, coalescing around the next American Demagogue, the Manchurian Mountain Mama who will, in this fella's humble opinion if she gets in, deliver the state to the elites in a fashion that will beggar credulity. <br /><br />Now, a lot of folks don't think she has a chance and if the moment occurs when it appears that she does enough of a counter-movement will arise... but please, my progressive friends, keep this in mind, we elected Nixon to his first term right after the 'Summer of Love'.Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com3tag:blogger.com,1999:blog-7661188327981862288.post-21912327548634613112010-09-16T09:59:00.026-05:002010-09-16T13:59:53.049-05:00Repost and Add-on : Destroy this invisible government ... dissolve the unholy alliance between business and corrupt politics ...wink<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0qnMII6LtVgY-fFDfhFs_HgdNRV9pwpGydHexEXXbzGyehexTY7G6NlKN1yOpHz3ry_mkLSSkz4JFllYTX05-n4CpyoO_X-tt9prEtd5SuGm52_H5C2YKl38AfvpyVVkHPMRhPjRUaws/s1600/Pravus+Regina+1.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 250px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0qnMII6LtVgY-fFDfhFs_HgdNRV9pwpGydHexEXXbzGyehexTY7G6NlKN1yOpHz3ry_mkLSSkz4JFllYTX05-n4CpyoO_X-tt9prEtd5SuGm52_H5C2YKl38AfvpyVVkHPMRhPjRUaws/s400/Pravus+Regina+1.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5517532782317465122" /></a><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh8fN5ARLF7147LGh2-YhDioqTgEjOrzB6ecZcM1U0OGYn3SFSSPptRiqVpaRM-Nkwb8TxsRkJkvXo7crGBzFU2tgJDWWa5_QhW7UDurjtGsxpIPKhR2WKSUezUzoaSVlzsC-VEjIoqbGo/s1600/pravus+regina+2.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 270px; height: 400px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh8fN5ARLF7147LGh2-YhDioqTgEjOrzB6ecZcM1U0OGYn3SFSSPptRiqVpaRM-Nkwb8TxsRkJkvXo7crGBzFU2tgJDWWa5_QhW7UDurjtGsxpIPKhR2WKSUezUzoaSVlzsC-VEjIoqbGo/s400/pravus+regina+2.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5517532963780871458" /></a><br /><br />'<span style="font-style:italic;">Don't believe everything you breathe<br />Someone keeps sayin I'm insane to complain<br />Forces of evil in a bozo nightmare<br />'Cause one's got a weasel and the other's got a flag<br />You can't write if you can't relate<br />Trade the cash for the beef for the body for the hate</span>.'<br />-Beck<br /><br /><span style="font-style:italic;">You see I may be a Christian but I am also a capitalist. And I will defend our capitalist system against all enemies unless there's a way to profit from its' demise</span>.'<br />-Stephen Colbert<br /><br />'<span style="font-style:italic;">Your motto is God,guns,guts,and American</span>.'-CNN interviewer <br /><br />'<span style="font-style:italic;">Actually its' God, guns,guts,and American pick-up trucks.</span>' -Missouri car dealer that is giving away free AK-47s with purchase of a truck<br /><br />'<span style="font-style:italic;">Some might wonder why God is included in a motto that also includes guns.</span>'-CNN interviewer<br /><br />'<span style="font-style:italic;">You don't have a problem with God do you</span>?'-Missouri car dealer<br /><br /><span style="font-weight:bold;">Originally posted December 17, 2009 with brief add-on</span>:<br /><br /><br />Populism is best defined as the juxtaposition of "the people" with "the elites". Its' flag has been hoisted by the left and the right, the irrational and the rational, and its manifestation per the prevailing zeitgeist is often appropriated by a demagogue.<br /><br />For Ben Tillman, African Americans were the scourge of white society; for James Michael Curley, Anglo-Saxons were the bane of the browbeaten Irish; and for Joseph McCarthy, liberal elites(commies) were an evil upon America. They all fought on behalf of and for the protection of the 'good way of life.' - they all fought against that which stood in opposition to a presumed American norm.<br /><br />To borrow liberally from Sigmund Neumann's, 'The Steadfast Rules of the Demagogue', and Douglas Walton's,'One-Sided Arguments: A Dialectical Analysis of Bias' : the most recognizable traits of a demagogue are the simplicity of message content and an entirely unilateral point-of-view presentation - summarized as unidimensionality.<br /><br />The demagogue appeals to the crowd and commonly adds the logical fallacies of appeals to pity, appeals to reverence and appeals to personality as well as other rhetorical devices such as omission not for literary elegance or brevity but rather for gain, influence and deception. The demagogue is anti-Aristotelian, in that rhetoric is not seen as the counterpart of the dialectic -instead, there is no desire to reconcile using opposing views but rather the demagogue presents a view in opposition to some Other. The Other is responsible for cultural and social upheaval, the Other is to blame for all current adverse conditions and "we" the true Americans, in opposition, need to uphold all that is good. <br /> <br />The demagogue capitalizes on vulnerabilities due to ignorance and fear.<br /><br />The first Populist party in America called itself the Greenback Party. It opposed the shift from greenbacks, paper money issued after the American Civil War, to a bullion based standard. Its platform supported an income tax, an eight hour day, and called for allowing women to vote. After 1884 it was no longer a force in American politics.<br /><br />The Populist party in the United States came about in the 1892 election. Its' platform called for the abolition of national banks, a graduated income tax, civil service reform, direct election of Senators, a working day of eight hours, and the nationalization of telegraphs, telephones and railroads. This party was gestated for economic reasons namely the desire to repeal the gold standard to counter high deflation in agricultural prices. The party was co-opted by the Democratic Party of 1896 and never recovered from its' defeat.<br /><br />The platform of the Progressive Party of 1912, formed by Theodore Roosevelt, was 'to destroy this invisible Government, to dissolve the unholy alliance between business and corrupt politics [it]... is the first task of statesmanship of the day.' The platform called for women's suffrage, recall of judicial decisions, easier amendment of the U.S. Constitution, social welfare legislation for women and children, workers' compensation, limited injunctions in strikes, farm relief, revision of banking to assure an elastic currency, required health insurance in industry, new inheritance taxes and income taxes, improvement of inland waterways, and limitation of naval armaments. The Progressive Party did poorly in the 1914 elections and faded away.<br /><br />The United States Progressive Party of 1924 was a continuation of the Progressive Party of 1912, after gaining only 17% of the popular vote in the 1924 elections it disbanded.<br /><br />The last true populist party was Huey Long's 'Share our Wealth' movement begun during the Great Depression. Its' platform was: <br /><br />'No person would be allowed to accumulate a personal net worth of more than 100 to 300 times the average family fortune, which would limit personal assets to between $1.5 million and $5 million. Income taxes would be levied to ensure this. Annual capital levy taxes would be assessed on all persons with a net worth exceeding $1 million.<br /><br />Every family was to be furnished with a homestead allowance of not less than one-third the average family wealth of the country. Every family was to be guaranteed an annual family income of at least $2,000 to $2,500, or not less than one-third of the average annual family income in the United States. Yearly income, however, cannot exceed more than 100 to 300 times the size of the average family income.<br /><br />An old-age pension would be made available for all persons over 60.<br /><br />To balance agricultural production, the government will preserve/store surplus. This is made so no food is wasted.<br /><br />Veterans are paid what they are owed.<br /><br />Education and training for all children to be equal in opportunity in all schools, colleges, universities, and other institutions for training in the professions and vocations of life.<br /><br />The raising of revenue and taxes for the support of this program was to come from the reduction of swollen fortunes from the top, as well as for the support of public works to give employment whenever there may be any slackening necessary in private enterprise.'<br /><br />Huey Long's slogan was 'Every Man a King'. The movement died with his assassination. <br /><br />Not every demagogue is a populist and not every populist is a demagogue, but when the two combine it is often combustible. The most salient example would be the conspiracist scapegoating in Germany promulgated as national socialist populism and articulated by a failed painter who did not become a German citizen until 1932.<br /><br />Fast-forward to today( 12/17/09):<br /><br />Rasmussen Reports : 'In a three-way Generic Ballot test, the latest Rasmussen Reports national telephone survey finds Democrats attracting 36% of the vote. The Tea Party candidate picks up 23%, and Republicans finish third at 18%. Another 22% are undecided. <span style="font-weight:bold;">Among voters not affiliated with either major party, the Tea Party comes out on top.</span> Thirty-three percent (33%) prefer the Tea Party candidate, and 30% are undecided. Twenty-five percent (25%) would vote for a Democrat, and just 12% prefer the GOP. Among Republican voters, 39% say they’d vote for the GOP candidate, but 33% favor the Tea Party option.'<br /><br />And what is the platform of this nascent political movement?<br /><br />Limited government, fiscal restraint, opposition to further stimulus spending and a determination to push back against "a federal government that is too big, too intrusive and all-too-eager to seize power from the states." Repeal the death tax, implement a flat tax, keep the internet tax-free, control the border, support free trade, personal accounts instead of social security, school choice, medicare reform, healthcare reform etc...<br /><br />A populist movement with 21st century characteristics. It will most probably be co-opted by one of the established parties.<br /><br />It may even marry up with a demagogue.<br /><br />LA Times : Obama's new Gallup Poll job approval number is 47%. Last month it was 53%.<br /><br />The new CNN/Opinion Research Poll shows Palin now at 46% favorable.<br /><br />Move along nothing to see here.<br /><br />Wink.<br /><br /><br /><span style="font-weight:bold;">Add-on (09/16/10)</span><br /><br />Obviously the Manchurian Mountain Mama is continuing to gain steam. What seemed obvious to this fella is becoming more generally observed. Reading Heilemann and Halperin's 'Game Change' as well as other anecdotal accounts of Lady Palin suggest that we truly are about to live in even more 'interesting times'. At the risk of being cataloged at a future date let me add one final riposte to this once and future candidate, in the language that a regina pravus might understand: <br /><br />'<span style="font-style:italic;">These six things doth the LORD hate: yea, seven are an abomination unto him:<br /> A proud look, a lying tongue, and hands that shed innocent blood,<br /> An heart that deviseth wicked imaginations, feet that be swift in running to mischief,<br /> A false witness that speaketh lies, and he that soweth discord among brethren.</span>'<br />- Proverbs 6:16-19Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com0tag:blogger.com,1999:blog-7661188327981862288.post-21422896255464270892010-09-10T10:07:00.019-05:002010-09-10T10:36:33.246-05:00Electile dysfunction, Nancy Capitalists sans compunction, raconteuring with gumption...damn dirty apes.<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhP0edKwT885bHGopfmxfvqSyt80D6b7SOEamRekm4hA47I_yaYjT0-TqBa8iyRa7EaikJwpdBbk0HkGuF4O_87IH-xeGaQYco-ucmwwG9wb-7dhNO4qFmzGViekbEECO2c9KlEGY1_Rkg/s1600/damn+dirty+apes+2.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 277px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhP0edKwT885bHGopfmxfvqSyt80D6b7SOEamRekm4hA47I_yaYjT0-TqBa8iyRa7EaikJwpdBbk0HkGuF4O_87IH-xeGaQYco-ucmwwG9wb-7dhNO4qFmzGViekbEECO2c9KlEGY1_Rkg/s400/damn+dirty+apes+2.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5515303081556534114" /></a><br /><br /><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEix5uqcFokFD6sWpXdQH3LWA1lrfgKJo2ylZf2zZ_DabjtWv48tohuwg7tgKjeO5oEtuK9gTgFXMQR5VotWRbW2D0_rpiXBx4HIx-ZdXEcdqkG0YXTysMMXqprEyFPwk63qSPbdSNhUFyI/s1600/'tis+a+madhouse.jpg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 322px;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEix5uqcFokFD6sWpXdQH3LWA1lrfgKJo2ylZf2zZ_DabjtWv48tohuwg7tgKjeO5oEtuK9gTgFXMQR5VotWRbW2D0_rpiXBx4HIx-ZdXEcdqkG0YXTysMMXqprEyFPwk63qSPbdSNhUFyI/s400/'tis+a+madhouse.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5515302971079659026" /></a><br /><br />Chris Whalen says that 'The income foregone by individual and corporate savers and transferred to the banks is something closer to $600 billion annually or nearly $1 trillion in total.'<br /><br />You mean that the failure to liquidate the insolvent banksters, to dip rich folks' bad speculative bets into the acid bath of price discovery, has liquidated a large part of the productive economy?<br /><br />Seriously hoocoodanode?<br /><br />Just for the heck of it asked Senor Google how many hits on the intertubes come up for say QSPE and Wells Fargo over the last three months... answer? ... 7! And one was from me per ZH blog on 04/09/2010! My oh my Alice. If 1.7 trillion or so worth less than 50 cents on the dollar can vanish down the randomwalkers' rabbithole without even a gasp verily anything is possible.<br /><br />Mark Pittman is convulsing in his tomb.<br /><br />At no time do their hands leave their arms folks; the middle class for their next trick as the 'vanishing bird' smashed at the bottom of the now empty cage.<br /><br />Just for chuckles, prithee what are the comics saying today?<br /><br />Deutsche dilutes itself 30% cause Basel might make 'em not count the secret capital?<br /><br />Donaudampfschiffahrtsgesellschaftskapitän preparing for River Styx!<br /><br />SEC reignites that 'investigation' into Lehman's fraudulent conveyance mimicry cause Dickie Fuld won't stop griping?<br /><br />'<span style="font-style:italic;">The lights are growing dim Otto. I know a life of crime has led me to this sorry fate, and yet, I blame society. Society made me what I am</span>.'<br />- Duke (Repo Man)<br /><br />Motorcycle Cop:<span style="font-style:italic;"> Whatcha got in the trunk? </span><br />J. Frank Parnell:<span style="font-style:italic;"> Oh... You don't wanna look in there. </span><br />(Repo Man)<br /><br />In the GM IPO the carservatorship's (patent still pending) total equity of $23.9 billion includes $30.2 billion of goodwill? From Government Motors to Goodwill Motors?<br /><br />My God...it's full of cars.<br /><br />Equities drift up 'cause, after levering, the Federales hedge fund at Eccles spins about 50 billion from straw to maw this past week?<br /><br />I couldn't do that. Could you do that? Why can they do it? Who are those guys?<br /><br />BLS pulls a number out of their tailbone (why even fabricate an effort eh? gosh just one hour a week constitutes part-time employment dontchaknow), half of all youngsters are unemployed, deceleration widespread, plutocracy warns that the arsonists may burn again if the waterfall (tax cuts) are turned off, the repubs who chortled that when Obama was coming in that the subpoenas will fly (what? did somebody do something wrong?) are now threatening that, vuja de, if they get in the subpoenas will fly and Feddie Mac is introducing ... wait for it... minimal down payments, lower minimum credit stores, no appraisals and no mortgage insurance!!!<br /><br />Have you left no sense of decency?<br /><br /><span style="font-weight:bold;">Electile dysfunction, Nancy Capitalists sans compunction, raconteuring with gumption.</span><br /><br />Damn dirty apes...Anonymous Monetaristhttp://www.blogger.com/profile/05244697197094564980noreply@blogger.com2