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soup1 pointed out in Intraday Stool that the Daily Reckoning has posted a great essay by the Mogambo Guru. You've gotta read this.
"See, what we would do is print up the money," says Gilligan, as he writes dollar signs all over a blackboard. "And then the added supply of money would enable us to borrow against our equity of everything on the island, then we could use the borrowed money to buy some airplanes, and then we'll all fly home!"
"It takes a really, really special kind of person, the kind of person kicked out of the Marines for being too aggressive, for instance, to bet that rates will actually fall from here. The invisible rays that emanate from that kind of testosterone will cloud x-rays, so be careful if you stand next to one in the elevator."
http://www.dailyreck...ine.cfm?id=2703
"Mogambo Sez: This is truly a watershed moment in history, and you are there. Things will tend to get very interesting from here on out. Well, "interesting" in the sense of degrees of bad news happening to somebody else. And when "somebody else" finds it interesting watching the bad news happening to you, personally, then perhaps you will find it all even more interesting, as a euphemism for catastrophe."
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Backward And Weird And Strange
'we will blow up your money supply'
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#1
machinehead 
- Dean of Stock Proctology
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- Group: Members
- Posts: 13,180
- Joined: 08-June 01
Posted 05 December 2002 - 03:41 PM
"GOLD -- it's not just for misers anymore."
"Dollahs -- fire-starters for the K-wave winter." - Drano
"Three humps and a dump." - anotherone, 21 SEP 2004
"No gold was harmed in the making of this movie." - Bizarro Greenspan
[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals." - our jickiss
"Dollahs -- fire-starters for the K-wave winter." - Drano
"Three humps and a dump." - anotherone, 21 SEP 2004
"No gold was harmed in the making of this movie." - Bizarro Greenspan
[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals." - our jickiss
MultiQuote
#2
Metamucil
- Associate Professor of Stock Proctology
-
- Group: Members
- Posts: 4,874
- Joined: 16-February 02
Posted 05 December 2002 - 07:00 PM
Right now, rates look shortable.
Will follow the primary trend carefully.
I still don't understand how reliquification will be able to swamp the leverage built into the credit bubble.....which will implode. The rate of paper production will have to be calibrated to swamp its destruction.....or am I missing something obvious? Probably the latter......
Will follow the primary trend carefully.
I still don't understand how reliquification will be able to swamp the leverage built into the credit bubble.....which will implode. The rate of paper production will have to be calibrated to swamp its destruction.....or am I missing something obvious? Probably the latter......
"I know the human being and fish can coexist peacefully"____George W. Bush, 7/29/2000
#3
BAREister
- Clinical Professor of Stock Proctology
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- Group: Members
- Posts: 8,469
- Joined: 17-February 01
Posted 05 December 2002 - 11:34 PM
Looks like the Europeans are finally beginning to push the PANIC button by lowering interest rates, albeit belatedly, in the global efFURt ™ to reflate. hASS the BUTTon ™ been disconnected, ass Steve Roach suggests? Izzit "too little, too late", and will these efFURts be overwhelmed by enveloping deflationary FURces?
Probably, is this observer's WAG (wild a**ed GUESS) and basis FUR hiz "modus operandi".
Hmmmm......Stool!!! Maybe we could make it a "commode-us" operandi! LOL
no. SNOT "Commodus" who, per Mr. Gibbon, et alia, was a particularly venal Roman emperor, a la Nero and Caligula (Gaius), successor to Tiberius.
Probably, is this observer's WAG (wild a**ed GUESS) and basis FUR hiz "modus operandi".
Hmmmm......Stool!!! Maybe we could make it a "commode-us" operandi! LOL
no. SNOT "Commodus" who, per Mr. Gibbon, et alia, was a particularly venal Roman emperor, a la Nero and Caligula (Gaius), successor to Tiberius.
"The sphinx set riddles for people which they could not solve and the sphinx devoured them." Russian poet Ilia Ehrenberg reflecting years later upon the debacle of the Bolshevik Revolution and civil war
"In any case, experience shows people are unlikely to change their ways without a cataclysm of existential proportions" Meinhard Meigel, German economist and demography expert on his prophecy of a Wagnerian abyss of social and economic chaos
"We believe that here is no easy way out of this mess, and that the chance of a benign outcome, while hopefully possible, is quite low." Comstock Partners 3-17-2005
"Not without a shudder may the human hand reach into the mysterious urn of destiny." Junk email promoting the sale of Valium, Viagra, Soma and Cialis. Of course, we AMERICANS need not WORRY about such CLAPTRAP!!!
"The trouble about myths, or lies, is that those who foster them are stuck with them." Edward Crankshaw
"I don't buy the idea that a crash will come without warning. There are always warnings. All crashes have certain common technical preconditions." Doc (snorjt)
"YOU look IMPORTANT. Are you important, or just....WEIRD?"
"Bob I am" at a political gathering, to HRFF, 9-29-04
"Are YOU C.I.A.???"
"No, I'm not "CIA"."
"Well, you sure LOOK LIKE you're C.I.A.!!!"
Lead singer of the rock band KISS to HRFF at a luggage carousel at SeaTac airport circa 1996
"Unlike you, I use words people can understand." Doc
"America at the moment, with its faith-based currency, faith-based economy and faith-based government, might be a heaven for those who love faith, but it's a hell for those of us that respect evidence." The Daily (W?)Reckoning, circa 9-17-04
"What should be clear at this point is that even huge fiscal stimulus and unprecedented financial excess are incapable of fostering a sound and self-sustaining economic expansion. The paramount issue, today and going forward, is the deeply maladjusted U.S. economy and its increasing unresponsiveness to even enormous yet misdirected financial stimulus. Both the Financial Sphere and Economic Sphere are severely maladjusted." Doug Noland's Credit Bubble Bulletin, Aug 24 '04
"U.S. dollar purchasing power relies almost entirely on the difference between interest rates in Japan and the higher rates in the United States." Warren Pollock, Prudent Bear essay circa 9-04
"What about your replacements? the Children. What do we tell them when the whole thing caves in?" HyperTiger
"In any case, experience shows people are unlikely to change their ways without a cataclysm of existential proportions" Meinhard Meigel, German economist and demography expert on his prophecy of a Wagnerian abyss of social and economic chaos
"We believe that here is no easy way out of this mess, and that the chance of a benign outcome, while hopefully possible, is quite low." Comstock Partners 3-17-2005
"Not without a shudder may the human hand reach into the mysterious urn of destiny." Junk email promoting the sale of Valium, Viagra, Soma and Cialis. Of course, we AMERICANS need not WORRY about such CLAPTRAP!!!
"The trouble about myths, or lies, is that those who foster them are stuck with them." Edward Crankshaw
"I don't buy the idea that a crash will come without warning. There are always warnings. All crashes have certain common technical preconditions." Doc (snorjt)
"YOU look IMPORTANT. Are you important, or just....WEIRD?"
"Bob I am" at a political gathering, to HRFF, 9-29-04
"Are YOU C.I.A.???"
"No, I'm not "CIA"."
"Well, you sure LOOK LIKE you're C.I.A.!!!"
Lead singer of the rock band KISS to HRFF at a luggage carousel at SeaTac airport circa 1996
"Unlike you, I use words people can understand." Doc
"America at the moment, with its faith-based currency, faith-based economy and faith-based government, might be a heaven for those who love faith, but it's a hell for those of us that respect evidence." The Daily (W?)Reckoning, circa 9-17-04
"What should be clear at this point is that even huge fiscal stimulus and unprecedented financial excess are incapable of fostering a sound and self-sustaining economic expansion. The paramount issue, today and going forward, is the deeply maladjusted U.S. economy and its increasing unresponsiveness to even enormous yet misdirected financial stimulus. Both the Financial Sphere and Economic Sphere are severely maladjusted." Doug Noland's Credit Bubble Bulletin, Aug 24 '04
"U.S. dollar purchasing power relies almost entirely on the difference between interest rates in Japan and the higher rates in the United States." Warren Pollock, Prudent Bear essay circa 9-04
"What about your replacements? the Children. What do we tell them when the whole thing caves in?" HyperTiger
#4
Hypertiger
- Assistant Professor of Stock Proctology
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- Group: Banned
- Posts: 3,270
- Joined: 16-July 02
Posted 06 December 2002 - 04:02 AM
Too little to late... bankruptcy of the world banking system is beyond stopping.
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...
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