Once you realize the only two paths left both end at the same destination, then the only rational action is to move your cash out of euros and the doomed banks, and liquidate your euro-denominated assets into some other currency as fast and as furiously as possible.
  |
 |
Stacy Summary: Who’s the boss?
|
|
Posted in Headlines
Tagged basel, capital ratios, capital requirements, germany, trichet, united states
Stacy Summary: It seems like a situation destined for disaster, but do you see any way out of it? Have a solution to this tragedy?
|
|
Stacy Summary: ’Superman?’ Probably a bad choice of words . . . And re: Greece, this is something that Max has been saying for the three years since this ‘crisis’ began . . . that losses would continue to be ‘revealed.’
|
|
First, a quick history lesson. The Weimar Republic was born following the end of World War One. The armistice forced Germany’s monarch, Kaiser Wilhelm, to abdicate and leave the country. In the civil chaos and revolution that followed, other major leaders, like the King of Bavaria, also were forced out of power. A semi-coalition government drew up a new constitution in the town of Weimar, hence the name.
The Weimar Republic got off to a shaky start due largely to the financial penalties imposed upon Germany by the Treaty of Versailles. To pay the Allied Powers, mostly Britain and France, France and Belgium even sent troops into Germany to force them to pay. Germany fired up the printing presses and cranked out worthless currency to pay the tab. After a few years of hyperinflation, the Weimar Republic elected a new chancellor, as well as a new head of the Reichsbank, and after November 1923 or so, the economy began to stabilize. But the social unrest was still prevalent. More
|
|
Stacy Summary: I found this video interview with Chris Whalen via Jesse’s Cafe Americain. And here is another article from his site with some great, if scary, charts (see one below) about the recent deterioration in the US housing market.
Pending home sales:
|
|
Posted in Headlines
Tagged double dip, fdic, federal reserve, finreg, germany, gold, housing, jesse's cafe americain, jim rickards, nouriel roubini, resolution authority, russia, sheila bair
Stacy Summary: Lots of fat fingers out there in our hyperactive digitally interlocked world. I love that despite S&P accidentally downgrading Germany the yields improved! Speaking of high frequency trading, Elizabeth King, an SEC associate director joins GETCO, who, along with Goldman Sachs, are a major SLP (see today’s On the Edge).
|
|
Stacy Summary: German president forced to quit after accidentally telling the truth that war is about deranged economic ideology and then another headline about deranged economic ideologies.
|
|
Rick Ackerman
Karl Denninger – Market Ticker The Big Picture Mish David Morgan King World News SmartKnowledge GoldCore Michael Krieger’s libertyblitzkrieg
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
