Comments on: BoE will remain open to Ponzi scheme operators

By: Matt Smyth

Matt Smyth — Sat, 24 Oct 2009 04:53:59 +0000

Richard Fisher of the Dallas fed was on BNN.ca and he said that the fed should target asset bubbles.

By: Fibon11235

Fibon11235 — Fri, 23 Oct 2009 14:20:39 +0000

@frances thats one hell of a chart

By: frances snoot

frances snoot — Fri, 23 Oct 2009 14:13:50 +0000

“In the near term, the end of the petrodollar standard will cause a sharp decline in the value of the US dollar and a marked increase in the prices of oil and of gold measured in US dollars.” (from goldseek link)

This sentence is stupid. If the value of the dollar is declining then the price of the item being considered is not an indication of the value of the item priced in dollars. Gold will hyperinflate as well.

By: frances snoot

frances snoot — Fri, 23 Oct 2009 14:08:40 +0000

“The inflationary policies of the US government and Federal Reserve have damaged the US dollar to the point that it is increasingly seen as a destabilizing force in the world economy.”

http://news.goldseek.com/GoldSeek/1256317200.php

Here’s an example of the perspective that everyone is taking except the people in control. The common perspective is that the dollar itself is causing havoc in the world trade system. The power boys are claiming that trade imbalances are the culprit and that a new regulatory structure for the international financial system is needed. The common perspective derives impetus through a desire of the common man to find a safe store for wealth and a continued go at prosperity. The power boys perspective derives impetus from the desire of the elite to incise the competition from the capital body and monopolize or own everything.

The big boys are devaluing the currencies for a reason.

By: Fibon11235

Fibon11235 — Fri, 23 Oct 2009 14:02:15 +0000

SMALL BEER maybe people should home brew away from government hogwash

Here one …24000 new Sky customers as UK population are staying at home watching TV as the pubs close….

http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5883902/Pubs-closing-at-record-rates.html

QUOTE
” lol lol lol
Some U.K. companies are weathering the slump. British Sky Broadcasting Group Plc, the U.K.’s biggest pay-television provider, said today that first-quarter profit rose. “We have won more clients despite the tough economic environment and I’m confident that we will continue to grow,” Chief Financial Officer Andrew Griffith said in an interview on Bloomberg TV. lol lol lol “

By: Fibon11235

Fibon11235 — Fri, 23 Oct 2009 13:44:03 +0000

Deputy dog Paul Tucker lol and his nebulous interest rate policy?

“Britain is on the cusp of a new era of monetary policy, in which targeting price stability is no longer the sole and primary objective of its economic decision-makers. The structure of the system will have profound implications for the way inflation, interest rates and the broader economy behave in the coming decades.”

////Translation\\\\ for my entertainment, am I wrong here lol !
1. Britain is on the cusp———> Yes like a shelf on a cliff?
2. Price stability is no longer –> What, run away inflation?
3. Structure of the system —–>What structure, its not a bridge?
4. Doubtful that macro-prudential –> Models don’t work any more
5. Coming Decades ————–>Were forever screwed.
6. surgical restraints—> Money management, tight lending in a complex world we no longer bully or own, booo hooo were in the shit now.

By: frances snoot

frances snoot — Fri, 23 Oct 2009 13:34:24 +0000

@Fibon11235:
I thought your link was cool!

By: Fibon11235

Fibon11235 — Fri, 23 Oct 2009 12:58:09 +0000

@ Supergeek Thanks, Its how a feel, just a second read, needs a few more, commas …well if were being monitored then we might as well try and entertain and put it up them.

So lets put it up and entertain.
@ Stacy and larrymagicpony might like this joke more than others.
So Look At Gold its a bit too well straight up..

http://images.google.co.uk/images?hl=en&resnum=0&q=phallic&um=1&ie=UTF-8&ei=KKjhSp2FHd-ZjAf08_G0AQ&sa=X&oi=image_result_group&ct=title&resnum=4&ved=0CCQQsAQwAw

you better ban it from your site.

Where that pony fellah he might like this joke..

By: frances snoot

frances snoot — Fri, 23 Oct 2009 12:23:11 +0000

“More broadly, all trade agreements need to be reviewed to ensure that they are consistent with the need for an inclusive and comprehensive international regulatory framework which is conducive to crisis prevention and management, counter-cyclical and prudential safeguards, development, and inclusive finance. Commitments and existing multilateral agreements (such as GATS) as well as regional trade agreements, which seek greater liberalization of financial flows and services, need to be critically reviewed in terms of their balance of payments effects, their impacts on macroeconomic stability, and the scope they provide for financial regulation. Macroeconomic stability, an efficient regulatory framework, and functioning institutions are necessary preconditions for liberalization of financial services and the capital account, not vice versa. Strategies and concepts of opening up developing economies need to include appropriate reforms and sequencing. This is of particular importance for small and vulnerable economies with weak institutional capacities. But there has to be a fundamental change in the presumptions that have guided efforts at liberalization. As noted in previous chapters, one of the lessons of the current crisis is that there should be no presumption that eventually there should be full liberalization. Rather, even the most advanced industrial countries require strong financial market regulations.”

http://citizen.typepad.com/eyesontrade/2009/10/stiglitz-commission-calls-for-wto-financial-services-reform.html

It’s time we stop focusing on currency because the big boys are setting up a regulatory trade structure based on balancing trade deficits and surpluses. Central banks will not retain the eminence of previous times, unless the banks are operating the carbon-credit exchanges.

By: Supergeek

Supergeek — Fri, 23 Oct 2009 12:17:03 +0000

@fib
Awesome… I have read your post twice I may go back and read it again… I sometimes think, it is really easy for people to make excuses for their actions when they are distanced from the effects… even happens to me sometimes!!!

By: Richard@lattitude30N

Richard@lattitude30N — Fri, 23 Oct 2009 11:51:37 +0000

so let me reflect on the aforementioned comments>>>>as long as the central banks( FED and BOE ) on both sides of the pond see the trillions( of $$$ and pounds) on the balance sheets at various banks : THAT’S ECONOMIC GROWTH??? wow! no need to study economics @ Oxford or Harvard then…what shall we call this Ponzi Clap Trap??? And yes, the Chinese $2 trillion once a huge factor may be the least amount the FED and US treasury have to deal with…as a matter of fact just because the Chinese hold that amount may give them the needed excuse to exit from future treasury auctions…as apparently they already have done…and, as monetization continues through the next several rounds of treasury auctions it may become clear that the only one to buy bonds is the FED!!!! At what point do the bond rating agencies step in and declare a state or the entire federal deficit in arrears may tell the tale…So far California has narrowly been saved from that axe..thanx to JPMorgan/Chase’s last minute rescue to invest in their bonds…But as many have stated ( yes Max too ) with the new year a new round of bailouts most likely will be required as the accounting scheme ( aka scam ) continues…After ENRON the SCOTUS exonerated the banks who provided financial advise to ENRON from any wrongdoing( they were sued by the creditors of the ENRON fiasco )…as always the banks get a pass….while the “hard working people” ( yes that was a Mick Jagger quote) take it in the buff….

By: sidney warburg

sidney warburg — Fri, 23 Oct 2009 11:45:06 +0000

phil thanks for that link, I´ll watch it some later. Of course I agree with max when he says, China is at war now with the US so the lost of that loan is not the first concern for china now!

By: harry_w

harry_w — Fri, 23 Oct 2009 09:41:20 +0000

haha I’m shaking in anticipation of more QE/ZIRP since UK Great Recession goes on, so the asset inflation — the wealth redistribution to speculators — will continue:

U.K. Economy Unexpectedly Shrinks in Longest Slump (Update1)
By Jennifer Ryan
http://www.bloomberg.com/apps/news?pid=20601087&sid=aoJTUKcx.E9A

It’s what Liu predicted, “not Weimar Republic-type price hyperinflation, but a financial profit inflation in which zombie financial institutions turn nominally profitable in a collapsing economy.”

By: Edvard

Edvard — Fri, 23 Oct 2009 09:34:53 +0000

What a joker.

British banks have an average LTV of 106%. They are technically insolvent. This is called ‘trading whilst insolvent’ and under British law the Directors should be criminally prosecuted.

So, the Fascist regime must create another bubble, and raid the last semblance of the wealth of the downtrodden British worker, before the currency collapses and they abscond to places unknown.

Not that I’m negative or anything.