Stacy Summary: h/t @Youri. Say what!? These guys have jumped the central banking shark . . .
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ref. max keiser & Get 6 mo’s free storage
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Rick Ackerman-
- King World News
- Mish
- Karl Denninger – Market Ticker
- Michael Hudson
- ZeroHedge
- The Big Picture
crash banksters – Buy Silver & gold
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Most recent: 
@ frances,
As far as I can see none of the links your search engine returned refer to the Dollar Index.
Your only mention of it is “He’s missin’ that oscillation in the euro-dollar exchange thang. …
They’z gonna synchonize the euro-dollar exchange thang. Then Harry W. gonna have the answer to his question ’bout that dollar index.”
Which is perfectly senseless, especially when ‘they’ are unspecified, and because you seem to have migrated to searching for the euro-dollar exchange rate rather than the dollar index.
The euro-dollar rate accounts for about 57% of the Index, that’s it’s only relevance. The question about the Dollar Index was for you:
What does, “The new system cuts these people off (Dollar index/basket currencies) through divorcing trade/export profit from the people.” mean? It’s difficult to discern any rational argument in what you’re putting forward.
“An exchange market may be seen as a dynamic system. Sometimes there are disruptions. Then crises occur with major consequences for capital markets, investments and so on. No reasonable man will wish an exchange market to become unstable. Therefore an exchange market should exhibit a stable dynamic behavior. Small disturbances should not lead to major disruptions. Disturbances should extinguish rapidly. Every disturbance should vanish in a sufficiently short time.”
http://home.deds.nl/~essentiae/exchange-rates-popular.pdf
http://people.brandeis.edu/~cecchett/pdf/cpi8.pdf
http://economie.moldova.org/news/experts-say-depreciation-of-leu-is-due-to-oscillations-of-eurodollar-exchange-rate-season-factors-and-internal-developments-15350-eng.html
Well, aintcha gonna answer Harry?
He just jumps all over me when I do, Cleetus. But Looky:
“A dynamic system may react on external influences in a stable way, or in an unstable way. When it becomes unstable, a disruption will follow. In the
oscillation behavior of the system one may see how far there exists the risk of a collapse.”
http://home.deds.nl/~essentiae/exchange-rates-popular.pdf
He’s missin’ that oscillation in the euro-dollar exchange thang.
Steller, what the sam-hill difference do that make?
They’z gonna synchonize the euro-dollar exchange thang. Then Harry W. gonna have the answer to his question ’bout that dollar index.
Yep.
Ain’t gonna be purty.
Air y’all trying to hippo-tize him?
Yep. He ain’t good to readin’ cept when it suit.
Wahl, he don’t seem suss-cept-able to sugg-jest-shun.
Airybody is sucs-pect. They just gotta sit thair and watch the movin’ thang and then they eye’z start’z to waggle together, just like them movin’ thangs. Then they be puddin’.
I don’t know if it’ll-er take wath HarryW. He’s seems sorta set like cement.
Y’all gotta have sum faith, Cleetus. I thank it’ll do his body some good to jump ’bout a bit and breath sum air sumtimes.
He’ainta bat, air he?
He ainta bat, but he sure do seem right stiff. Okeedokee. That should be enuff time. Jump, Harry. Jump. JUMP.
WOOOF. WOOOF. AWOOO AWOOO AWOOO.
Don’t thank that-a-took, Steller.
Nope.
It do mean this:
http://www.youtube.com/watch?v=yysnkY4WHyM
@ frances,
Just make a substantive point that you can provide some backing for with observable data.
It’s not even a thing, just an indirect measure of a something.
So what does, “The new system cuts these people off (Dollar index/basket currencies) through divorcing trade/export profit from the people.” mean?
Here Harry. Knock yourself out.
http://www.youtube.com/watch?v=W1TMZASCR-I
I really don’t know what role you think the Dollar index plays
un-befuckin-leavable
Leaving aside the entirely irrelevant verbiage
Good. That means I can leave off answering your condescend-shun (like rain) as irrelevant verbiage (do your own research).
@ frances
Leaving aside the entirely irrelevant verbiage:
Can you establish that fact? With metronomic regularity you respond to any article with so-and-so ignores the fact that my-SDR-theory blah blah.
What is a ‘species of index to which only the uber-rich have access’? Who are the super-rich with this access?
The BIS/World Bank don’t constitute a group, they’re both distinct. The rest appears to be mere assertion, can you substantiate it before asserting it as fact?
I really don’t know what role you think the Dollar index plays, it’s simply a measure of the value of the dollar. The austerity measures starting to be applied in some countries (Greece, Ireland etc) are largely a result of states taking on bad debts which threatened to collapse their major banks, and the collapse in tax revenues associated with the abrupt decline in asset transactions and consumption.
As I said, with metronomic regularity you respond to any article with so-and-so ignores the fact that my-SDR-theory blah blah…
Simon Johnson has nothing to do with the points I made.
“On the other hand for large numbers of unemployed, an increase in output and employment may lead to an improving standard of living.”
Slavery is not indicated as an improving standard of living unless one is the slave holder. 100% employment happens to be 100% indentured. That is the flaw of Keynes.
“If even the expert bankers of the Central Banks’ Central Bank are saying enough to banking fearmongering, it is time our own politicians followed suit.”
Advice from zero-hedge which neglects to indicate where there funding comes from and to whom they owe allegiance. The Central Banks are not to be trusted.
It would seem with that statement, neither is zero-hedge.
Remember that Simon Johnson is an ex-IMF banker who is fowarding this same agenda: to allow a privileged group of private banks with no accountability to the public and a piss-ass-poor track record with the poor of the world to regulate private banks who are accountable to the public out of existence affecting an apartheid of liquidity which will lead to currency collapses of which the BIS says ‘that’s good’.
What a fine upside-down world!
What is a “good thing” for the BIS/World Bank Group is a world where their agents extract wealth without sharing with the peoples of the region. It is the bankers’ way to do so.
Currency that ‘shared in trade profit’ (circulates as both trade and domestic currency) and private banks enabled the people of some favored countries to share in the trade profit/export extraction wealth.
The new system cuts these people off (Dollar index/basket currencies) through divorcing trade/export profit from the people.
Instead we are being gifted with austerity packages.
goody
http://www.liveoilprices.co.uk/oil/oil_prices/05/2010/oil-prices-again-being-lead-by-dollar-and-euro-swings.html
“Many crude oil traders are more keenly watching the euro zone crisis developments, amid expectations of continued euro v dollar volatility, said Koichi Murakami, a trader with broker Daiichi Shohin in Tokyo.
“The market does not think all the euro zone’s problems are over. With a bit more negative news, like another downgrade of a government bond, crude prices may test further lows,” Murakami said.”
Euro-dollar volatility will be at the crux of the problematic for which the monetary authorities seek resolution. Dismissing discussion of the subject out-of-hand as irrelevant indicates arrogance leading denial in preference for fantasy.
Mundell’s indications are that the euro-dollar will emerge as a fixed rate currency bloc/region to which the other currencies will find an anchor.
One wonders how this scenerio will meld with UNCTAD’s recommendations for a multilateral exchange rate system with sdr as index.
It assumes the resolution of the US debt within the context of a International Clearing Union/Global central bank.
The boogies being forwarded by the press at present are fabrications useful for changes in regional (nation/state) statutes to support IMF agenda.
Support of the BIS as a ‘good regulator’ ignores the fact that a set of banks are governing AND regulating the world within the context of a species of index to which only the uber-rich have access.
It is hypocrisy dripping with the blood of the poor.
Here’s an example of Sarkozy’s world citizenship:
http://en.afrik.com/article15648.html
“According to the French journal Le Canard enchainé (03/08/2005), with profits from its mines running to the tune of “428 million annually”, Areva’s aid to Niger’s starved population in 2005 “only amounted to 0.05% of its annual profits”. The question is, will the Nigerien people benefit from this new project and be spared from another famine? And will Areva take on more moral responsibilities in developing the country’s agricultural sector to benefit the Nigerien population at large?”
Areva extracted immense wealth from the people of Niger and neglected to notice a famine. Areva is a state-owned French company.
Yeah, in a “beggar thy neighbor” way I suppose…
@ frances,
Irrelevant.
@ Youri,
Lehaman was the culmination of Act 1, not the beginning. The ‘credit crunch’ began in the wake of the liquidation of 2 Bear Stearns funds in June 2007:
http://www.telegraph.co.uk/finance/2811371/Credit-crunch-will-shred-investment-portfolios-to-ribbons.html
That led to the mark-to-market valuation of derivative assets on most large bank balance sheets. The valuation was ‘toxic’ to those balance sheets, it undermined the capital base of the major banks, hence reluctance to lend between banks, the end of mark-to-market, demise of Bear Stearns, Merril Lynch absorbed and Lehman’s collapse. What Lehmans triggered was an expansion in the massive state intervention in markets (e.g. TARP).
@ Giuseppe,
Source docs are usually perfectly accessible and much more reliable than secondary reports. It’s just the effort required to refer to them.
@ Stacy,
The BIS don’t say that currency collapse is ‘a good thing’ (in the style of 1066 And All That): http://en.wikipedia.org/wiki/1066_and_All_That
It’s a paper that says “Our estimations are based on the evolution of output and the exchange rate, but ignore many other factors that determine the welfare costs of a currency collapse.”
Obviously the ‘welfare costs’ of those three examples, or Iceland, are material to considering whether a collapse was ‘a good thing’, for most wage earners it leads to a substantial decline in their standard of living. On the other hand for large numbers of unemployed, an increase in output and employment may lead to an improving standard of living.
Currency devaluation and debt forgiveness are two totally different things, but both are ways to (re)distribute the losses associated with ‘all the debts that cannot be repaid’ — isn’t that your point in the TAM-USA pilot? The way I see it, the losses are out there, have been since the crisis began, it’s a matter of deciding who and how they’re taken — it’s always a matter of political economy.
@harry_w – yes the BIS has constantly warned on debt levels and thus debt collapse for many years but it has jumped the shark indeed to say that currency collapse is a good thing, just ask the Icelandic people on this site for their first hand experience of what the BIS alleges; and currency devaluation and debt forgiveness are two totally different things
Didn’t they try that crap in the 30′s ?
Frontline Special On Brooksley Born’s Attempt To Tame Derivatives on Frontline: http://www.pbs.org/wgbh/pages/frontline/warning/view/
Frontline Special On Brooksley Born’s Attempt To Tame Derivatives http://www.zerohedge.com/article/frontline-special-brooksley-borns-attempt-tame-derivatives
Panel approves first contracts for movie futures trading http://www.marketwatch.com/story/panel-approves-movie-futures-trading-2010-06-14-182800
@ Giuseppe Bagodonutti
I must say that in the beginning of my investigation, at the end of 2008 I read everything very carefully but now it seems to be more of the same and the situation hasn’t changed that much I read evrything more hastily.
But the big picture which I formed in the beginning only has been confirmed to be accurate.
Economy in U.S. Slows as States Lose Federal Stimulus Funds http://www.bloomberg.com/apps/news?pid=20601068&sid=a_rI0JsDjgvI
Reinhart and Rogoff had similar conclusions alluded to in their TOME
“This Time is Different”
So it’s no surprise if you look at historical examples…
http://www.economics.harvard.edu/files/faculty/51_This_Time_Is_Different.pdf
(This is the 124 page paper that they wrote in late 2008… there is also an “Aftermath” paper which has some follow-up… it is essentially the same info as the book)
So it seems only Harry_w (and possibly Youri) are willing to actually read source materials before getting caught up in headline-madness?
Investigative journalism AT ITS FINEST, I tells ya !
http://www.bis.org/publ/qtrpdf/r_qt1006f.pdf
Gulf seafloor crack leak slow motion loop http://www.youtube.com/watch?v=f6-fPwLZP7s
OIL SPILL CAN’T BE STOPPED! http://www.youtube.com/watch?v=qBLDtkdfCD8
The global cabal behind inflationary money (all fiat currencies) want the dollar to go away so that a phony IMF money can take its place.
Webster Tarpley: Afghan minerals: Uncovered conspiracy http://www.youtube.com/watch?v=Leh5tk89Ncs
The IPCC consensus on climate change was phoney, says IPCC insider http://fullcomment.nationalpost.com/2010/06/13/the-ipcc-consensus-on-climate-change-was-phoney-says-ipcc-insider/
Something Very Bad Has Happened To Milk http://perdurabo10.tripod.com/id597.html
@currency collapse
Anybody been looking at the Ruble lately? If any currency has had the stuffing kicked out of it, its this one. Ok, so their yields are like Brazil’s, and Brazil’s are like China’s, so why are Greece’s long term yields so far below them?
Um, don’t look now, but short term U.S. bond yields are in hyper-infarcus-1970′s-TV-paramedic-emergency mode.
http://www.bloomberg.com/markets/rates/index.html
@harry_w
I must say that I am willing to listen to any fool who can come up with valueable arguments even if it’s the BIS.
We must not forget that the BIS has the same objectives as the Wall Street cabal namely “Self preservation at any cost”. Prove of these statement can be found in the documentary “Banking with Hitler”.
BIS: ““This suggests that it may not be the currency collapse that reduces output, but rather the factors that led to the depreciation,””. So, what are these factors?
I think we can generaly catch them under one word which is the beginning of any trade “Trust” or rather “Mistrust” on this occasion. This mistrust was ignited by the Lehman collapse and when the so-called tripple A securitized packages blew up right in their face.
From that moment on, at the end of 2008, securitisation was dead which had created a wide credit flow before, suddenly came to a halt. This not only dried up a huge lending cash flows for banks but also made them mistrust each other cause they knew what they had on their off baclance toxic sheets but what did the other banks have? This made them mistrust each other which is the other cause for a rapidly thightening credit market: Banks stopped lending each other.
So first we had the end of securitisation and secondly we have the stop of inter banquer lending. One can imagine that both are is higly deflationairy and tightening the credit market. Banks couldn’t lend to the real economy anymore without taking huge risks in highering up their leverage more than they allready had with the vastly tightened credit market.
From that moment on the Poker play had begun. Geithner first game with the “bad bank” idea but shortly after discovered that it wouldn’t be a good idea cause that would able the other banks to have a peak at the cards in hand so therefore was abandoned very quickly. Instead he came up with the “Stress Test” which wasn’t a bank solvency test at all but bought him time and gave the appearance of doing something while in fact he was doing nothing.
The banks were loaded up with taxpayers bail out money, oh yes, but this didn’t bring back the securitisation market and it couldn’t make the banks trust each other so instead of lending to each other they recycled the fresh money into treasuries forth and back looting the taxpayers even more.
Later this money came in handy cause now the banks could start “eating there on dog food” by buying up treasuries with taxpayers money since non of it ended up in the real economy we could see main street implode rapidly.
So now here we are with main street further imploding, banks still loaded up with toxics, playing a higly egoistic Poker merely for self preservation at the expense of the World economy and nobody is doing a damn thing about it.
It’s a disgrace for humanity an insult to the intelect to have the higly paid minions of the BIS come out with reasons which were so obvious from the beginning that even I could spot them right away while I am not even in the business for crying out loud!
Latest show from The Information Underground
http://theinfounderground.com/archives/ … 6-2010.mp3
oh, goodness
with everyone going the same place, I got it switched
The progressives have happiness and the conservatives have freedom!
sorry
Somebody please correct me if I’m wrong but it’s not a collapse of the currency that would be the main issue in a currency collapse but the follow on effects, (banks failing, people lousing retirement, jobs, a plunge in the standard of living, social unrest, loss of faith in the system, etc.). It’s these pieces that are usually the hardest to put back together. It’s really scary when people you hope are a little bit smarter then you are, make statements like this with out totally thinking though what they’re saying.
This occurs as people start offloading their fiat doo doo and buy useful stuff.
Its the ultimate spending spree, the last hurrah.
No wonder it improves GDP.
Watch sales go up in these three areas……Gold, Guns and Grub.
The progressives have their “economic freedom index” and the conservatives have their “happiness index” but both are surely neither to be free nor happy for those who are constituents of the basket.
They’re practically the last bank left standing against the TBTF vampire squids!
I pledge allegiance
To the new world order
And to the bank (BIS not BS)
For which it stands
One bank
Over a multilateral exchange rate empire
With slavery
And rfid chips
For all.
http://news.bbc.co.uk/2/hi/technology/6691139.stm
@ stacy,
You must have been influenced by Bloomberg’s spin on the report in their headline.
It’s actually self-evident, and backed by the data:
Or as they summarise it: BIS Quarterly Review discusses financial turbulence, 14 June 2010
http://www.bis.org/press/p100614.htm
Currency collapse arrests the fall in output, which happens prior to the currency collapse.
Civilisation was born out of a debt crisis which prompted a currency devaluation (collapse in BIS terms) and debt forgiveness, which paved the way for the political reforms underpinning ancient Athens. See Solon.
http://en.wikipedia.org/wiki/Solon#Solon.27s_reforms
http://en.wikipedia.org/wiki/Seisachtheia
The BIS have not ‘jumped the shark’, at all. They’re virtually the last central banking authority that hasn’t ‘jumped the shark’ by indulging QE/ZIRP and now the EU’s QE-lite. They’re practically the last bank left standing against the TBTF vampire squids:
The only banking authority to warn of the Debt Crisis ahead of time, or to have an economist rebuke Greenspan’s asymmetric bet on bubbles while Greenspan was in office and riding high on the last great bubble.
The BIS are actually worth taking seriously, they haven’t jumped the shark.
@GGees
Yeah, it’s the philosophy of what goes up must come down and what came down must go up.
Currency collapses lead to economic growth—-yeah like it did in Zimbabwe lol
You may find yourself living in a shotgun shack
You may find yourself in another part of the world
You may find yourself behind the wheel of a large automobile
You may find yourself in a beautiful house, with a beautiful wife
You may ask yourself: well… how did I get here?
Letting the days go by/let the water hold me down
Letting the days go by/water flowing underground
Into the blue again/after the money’s gone
Once in a lifetime/water flowing underground
You may ask yourself
How do I work this?
You may ask yourself
Where is that large automobile?
You may tell yourself
This is not my beautiful house!
You may tell yourself
This is not my beautiful wife!
You may ask yourself
What is that beautiful house?
You may ask yourself
Where does that highway lead to?
You may ask yourself
Am I right?… Am I wrong?
You may say to yourself
My God!… what have I done?
The Talking Heads – Once in a Lifetime
61% Underfunded Illinois Teachers Pension Fund Goes For Broke, Becomes Next AIG-In-Waiting By Selling Billions In CDS http://www.zerohedge.com/article/61-underfunded-illinois-teachers-pension-fund-goes-broke-becomes-next-aig-waiting-selling-bi
Deepwater drilling ban may end early, analyst says http://www.marketwatch.com/story/deepwater-drilling-ban-may-end-early-analyst-says-2010-06-14
World Cup’s winning formula: USA! USA! USA! – U.S. audience nearly doubles http://www.marketwatch.com/story/world-cups-winning-formula-usa-2010-06-14
Studies: Health costs rising, insurers wasting money – Expenses to rise 9% in 2011 while carrier errors total $15.5 billion, groups find http://www.marketwatch.com/story/studies-health-costs-rising-insurers-waste-funds-2010-06-14
BIS is right about one thing: “Currencies Collapsing”
BIS is wrong: “Currency collapse could stimulate economic expansion”
BIS forgot to mention: “Currencies Collapsing Good for Gold Vigilantes”
But that’s because central Banksters hate Gold so the deliberately won’t mention that MTFs!
Markets shrug off Afghan minerals ‘discovery’ – Afghanistan’s vast resources not news http://www.marketwatch.com/story/markets-shrug-off-afghan-minerals-discovery-2010-06-14
Damn It Feels Good to be Banker!
http://www.youtube.com/watch?v=ROlDmux7Tk4&NR=1
Kennedy Threatened After Brothers Died, Papers Say http://www.bloomberg.com/apps/news?pid=20601087&sid=aixUwhwfebcw
Hedge Funds Dodge European Proposal With ‘Newcits’ http://www.bloomberg.com/apps/news?pid=20601087&sid=af.ivKCXPgNY
“Economic freedom is intimately tied to money”–heritage guy with very low blood pressure, perhaps not measurable
No shit, Sherlock.
Good Lord! What a bunch of whitie-tighties! And an INDEX for economic freedom book! (guess Heritage realizes the dollar-index is a goner) Wow! (one better watch out for live-human-worms rather than invisible worms cause those Heritage guys-and gal-have been dead for years and years…)
Mundell is at the halfway point on the video.
U.S. Attack on Europe continues – They want Europe to fail (And so do I so than it usualy doesn’t happen)
Greece’s credit rating was cut four steps to non-investment grade, or junk, by Moody’s Investors Service, which cited the country’s economic “risks.”
The rating was lowered to Ba1 from A3, Moody’s said in a statement today from London. The outlook is stable, it said. Greece is already rated junk by Standard & Poor’s. http://www.bloomberg.com/apps/news?pid=20601087&sid=azXXypoczyMY
@Snoot
I sold one t-shirt! You never guess to whom..
http://www.climatebabes.com/images/palin-breast-implants-climatebabes.com.jpg
@Tamir.
Lucky you! Haha.
And if you wait some years you can make big money.
In 2005 a house cost more than 20 kilo gold.
Now it cost more than 10 kilo.
In 1980 (the last high) a house cost 3 – 5 kilo.
In depression maybe 1 kilo. In war 0,5 kilo.
Buy gold! But be careful. It could correct next months.
If you sold your house in 2005, it was worth 20 kilo gold. In depression you can buy 20 houses for it.
Which crisis? It is a opportunity.
@Snoot
Well, some are trilingual economists working at the ministery, that’s why it could have made sense..
Nope. I don’t use public transport and I don’t sport any D’s in my name. With such a long list of climate babes, Mother, how DO you keep track anyway?
Why not name them all Mutt? They are mascots, are they not?
@Snoot
Damn. Was it you I hit up on yesterday? Then your name is Dani!
All for the cause, mind you.
Why don’t you travel on public transit and hit up hot chicks for climate change action, Mother? Isn’t that your usual modus operandi?
“What the sun will do next is beyond our ability to predict”
What’s wrong with the sun? 14 June 2010, by Stuart Clark Magazine issue 2764 (New Scientist) http://www.newscientist.com/article/mg20627640.800-whats-wrong-with-the-sun.html?full=true
This is interesting:
http://www.heritage.org/Events/2010/04/The-Dollar-The-Euro-and-the-International-Monetary-Order
Heisser Kick mit Body-Painting http://www.bild.de/BILD/video/clip/erotik/erotik-lounge/2010/06/13/sexy-soccer.html
@Snoot
I’ll clarify : How will it get me laid?
Because ‘they’ are going to do something about that euro/dollar volatility: perhaps that band that Mundell was speaking of?
‘They’ are apt to change the “phenomenology” of the exchange rate system: hence the BIS report.
Currency Collapse May Stimulate Economic Expansion Vid http://www.youtube.com/watch?v=K5vEkYE9w-0
“Kuwait is the GCC country that has the greatest dependence on the
oil sector. It posts, in fact, the highest percentage of oil exports on the
total (95%) and of oil revenues on the total public ones (93.8%); while it
is ranked after Qatar for the weight of hydrocarbon production on GDP
(59.3%). Moreover, the high relevance of oil revenues on exports
justifies the sharp incidence of the current account balance on GDP
(43.73%), which appears to be the highest in the area…
In this context, the phenomenology of exchange rate system is
particularly important. Indeed, the foreign currency revenues related to
exports are mainly in dollars, both because the hydrocarbons are quoted
in the US currency, and because they are widely used as a transaction
currency in the Asian economies. On the contrary, the payment of their
imports is largely in euro, given the current practice in European
countries to list their exports in their national currency. The relations of
exchange between the euro and the dollar have, therefore, great
importance for the countries of the Gulf area and, in the last decade, in
the presence the dollar peg, they caused huge monetary losses due to the
depreciation trend of the US currency compared to the euro that has
characterized most of this period.”
http://mpra.ub.uni-muenchen.de/22484/3/MPRA_paper_22484.pdf
@Snoot
What is the relevance of knowing that?
@Mother:
I think I’d like to know the constituents of the currency basket that Kuwaiti oil is pegged to.
http://business.maktoob.com/20090000456734/Kuwait_to_keep_currency_peg_to_basket/Article.htm
http://www.business24-7.ae/opinion/comment/eu-woes-bad-news-for-gcc-currency-2010-06-13-1.254770
Do you have any idea about the currency basket peg, mother?
Yes, whatever happens is just what they wanted to happen!
I am reading a 1997 paper (Systematic Monetary Policy and the Effects of Oil Price Shocks,) in which Bernake poses that the federal funds rate does not affect macro economic variables such as output and prices…
Bernake believed (believes?)that a rise in oil price should be met with loosening monetary policy from observing the negative effects of the historic monetary tightening responses to inflation caused by rising oil prices. This may explain why Greenspan and Bernanke where such santa’s because oil shocks occured with the start of every war. Knowing these ideas of Bernanke the banks could even have deliberatly speculated up the oil prices in 2007-2008 to trigger further monetary loosening…
What do you gyys think? zzzzzz
Stimulate it to do what? So if it collapses it will make future production that doesn’t exist suddenly appear? Who authored this report, Mary Shelly?
What am I reading? What the hell.
Lucky me; I almost bought a house in the Netherlands…!
Congratulations BIS! You have found one thing that could stimulate the economy, beside bailouts. But it is not a good thing, like bailouts. Maybe good for the banksters, but not for us. There is nothing to do about it. The only thing that is good, is to let the bad companies go bankrupt.
Economy won’t grow, because this is the end of the biggest cycle. This is not like 1929, but more like 1720 (South Sea Bubble). In Holland a house cost just as much as in 1736 (in real value). The correction didn’t start yet. Holland be prepare for a big crash and deflation! We are toplenders of the World!
On the picture below you can see the housing market of Holland from the year 1650. The top of 2007 was the top. Sell your home, and buy silver and gold!
http://www.nrc.nl/achtergrond/article1853451.ece/Hoogste_huizenprijzen_in_bijna_300_jaar
2010 is like 1930, in astrological terms. 2010 we see the Cardinal Cross and it predicts nothing good. It will be a big panic and high volatilty markets again!
There is not much time left. Sell your stocks!!!!!! In August you are too late.
Gr,
Geert
I guess you all read about it already; but anyway, not being an American myself, I find it UTTERINGLY shocking that the US government is allowing spaying of these chemicals next to residential areas in proximity to the oil spill. Lives will be lost! Remember what happened in Vietnam (trying to destroy forests)…? I don’t know if this is a similar compound, but it does happening on “yes we can” Obama’s watch!
I guess we’re looking at a period of “credit” expansion, then…!
Where does the line start for rationing coupons?
http://www.huffingtonpost.com/hani-almadhoun/not-for-profit-how-hamas_b_518386.html
Whatzup with this?
http://www.un.org/apps/news/story.asp?NewsID=34903
…….! Pure genius. Send in the clowns.
Scussi if this is already posted:
Matt Simmons is unfortunately no longer a lone voice and it looks like he is right (May 26 interview is below)
He says if they should use the tankers that unload at the refineries to pump out the oil in the Gulf or when Hurricanes come it will plaster the coast and they will have to shut down refineries and power plants (not to mention ports).
Good round up of info on this at this ink:
http://www.zerohedge.com/article/bp-official-admits-damage-beneath-sea-floor
excerpt:
As I noted Tuesday, there is growing evidence that BP’s oil well – technically called the “well casing” or “well bore” – has suffered damage beneath the level of the sea floor.
The evidence is growing stronger and stronger that there is substantial damage beneath the sea floor. Indeed, it appears that BP officials themselves have admitted to such damage. This has enormous impacts on both the amount of oil leaking into the Gulf, and the prospects for quickly stopping the leak this summer.
On May 31st, the Washington Post noted:
Sources at two companies involved with the well said that BP also discovered new damage inside the well below the seafloor and that, as a result, some of the drilling mud that was successfully forced into the well was going off to the side into rock formations.
“We discovered things that were broken in the sub-surface,” said a BP official who spoke on the condition of anonymity. He said that mud was making it “out to the side, into the formation.”
Worth watching from the link:
Matt Simmons June 7 on Dylan Ratigan Show:
http://www.msnbc.msn.com/id/21134540/vp/37560013#37560013
Earlier interview on May 26:
http://www.msnbc.msn.com/id/21134540/vp/37363529#37363529
Last gasp for air before drowning?