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A complete waste of 6.5 hours


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So we have just put July 4th in the can...

 

...and I see that certain entities have already kicked off their "back to school" sales

 

Ugh!

 

I am curious to see if they can start this years Christmas sales one minute after midnight on Halloween

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So we have just put July 4th in the can...

 

...and I see that certain entities have already kicked off their "back to school" sales

 

Ugh!

 

I am curious to see if they can start this years Christmas sales one minute after midnight on Halloween

 

I'm betting on Labor Day.

 

Let's start a pool..

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It was two weeks between the first Fed purchases under QEII and the market starting to rise. Whatever the reason for that I always chalked it up to creating a sort of plausible deniability for the Fed as in; 'see, we don't effect the market'. (I am sure Doc can look up the records about the day to day liquidity situation those last two weeks of November) Silly I know but I will not be surprised if there is a similar 2 week lag now that QE has ended. Giving just enough of a delay so the causal relationship between the printing press and stocks can be muddied.

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jormai like your postmy long term position is that fiat money is evil and each form has a finite lifeanything that causes wide public discussion about how our current fiat money system works is okay with me - even if it is wrongwith enough focus of attention this current fascination with fiat will be ending - just don't know whenSpecie - Money, especially in the form of coins made from precious metal, that has an intrinsic value

 

 

I don't think a fiat money system is evil. When evil comes is when any system reaches the point where those in power of it insist that we must serve the system. When of course any system should serve the maximum number of people, not the other way around.

 

Back in the days of hard money in the US nobody was a more ardent defender of that system than the Barron's and financiers of the Guilded Age. Today nobody is a more ardent defender of our increasingly nebulous money than those very same people. It is the concentration of money and the control if it by the few that becomes evil.

 

No system is perfect. The continuing bailouts of the giant lenders is a perfect illustration of how we are being made to serve the system, to save the banks and corporations at the systems core. It is here evil lies. Fiat or any kind of money makes no difference. Bad debt has to be wiped out and along with it its holders. It isn't the money it is the insistence that we serve those in power of the system which is the problem. 1999-02-15_Time_Committee_to_Save_the_World.jpg

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I don't think a fiat money system is evil. When evil comes is when any system reaches the point where those in power of it insist that we must serve the system. When of course any system should serve the maximum number of people, not the other way around.

 

Back in the days of hard money in the US nobody was a more ardent defender of that system than the Barron's and financiers of the Guilded Age. Today nobody is a more ardent defender of our increasingly nebulous money than those very same people. It is the concentration of money and the control if it by the few that becomes evil.

 

No system is perfect. The continuing bailouts of the giant lenders is a perfect illustration of how we are being made to serve the system, to save the banks and corporations at the systems core. It is here evil lies. Fiat or any kind of money makes no difference. Bad debt has to be wiped out and along with it its holders. It isn't the money it is the insistence that we serve those in power of the system which is the problem. [

 

Interesting point. Could things like derivatives (or their counterparts) occurred without a fiat currency?

Maybe someone will write an Alternate History about this...

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There was little doubt about the direction the market would immediately after the end of QE. The liquidity picture was bullish. I gave the date window where it appeared that would end. We're not quite there yet, but we're getting closer.

 

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