The Crack Addict Needs To Mainline
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-09-30 06:44
by Karl Denninger
in Editorial
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The Crack Addict Needs To Mainline
 

Because no good drug addiction is ever worth breaking until you have a heart attack and your teeth rot out of your head.....

WASHINGTON—The International Monetary Fund, looking to assure markets that it has the financial firepower to deal with deepening problems in Europe and also crises elsewhere, is exploring how it can have at least $1.3 trillion in lending power, according to officials involved with the discussions.

The IMF currently has about $630 billion in usable resources; about two-thirds of that could be lent under IMF rules.

The only solution to an exponentially-spiraling debt trap (which is always true when you are borrowing "X%" more this year than last) is to stop the excessive spending.

There is no other solution.  Borrowing more money doesn't solve the problem, it makes it worse. 

Even if Europe is able to boost its own bailout facility in the coming weeks, some believe it may be insufficient to decisively douse the debt fire. The new IMF proposals, if approved, would serve as a backup to ongoing European efforts to contain its crisis.

Quick!  Call the fireman and tell him to fill his hose with gasoline!  That will definitely "douse" the fire!

Discussion below (registration required to post)
 

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User Info The Crack Addict Needs To Mainline in forum [Market-Ticker]
Oldno7
Posts: 2141
Incept: 2008-11-14
Gold
RECALL STATE USA
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CUT THE SPENDING NOW!!! Obummer either cut the spending 43% or become a one term president.

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IT'S THE SPENDING STUPID The US must become less a government of men, and more a government of LAW.
When people lose everything and have nothing left to lose they lose it -Gerald Celente
Mo
Posts: 12158
Incept: 2007-06-26
Silver
Pa.
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More looting of the system.

Hey, *******s, all the money is already at the top. Are you having dreams of re-creating the world at the end of this with all that money?

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Welcome to Pottersville
Goldbrick
Posts: 2946
Incept: 2008-01-23
Green
Indiana
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If CONgress spends OUR money on this then they all deserve to die in a fire.

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"The higher I go, the crookeder it gets."
--Michael Corleone

"Instead of cursing the darkness, light a CONgressman."
Mayorquimby
Posts: 13909
Incept: 2008-09-18
Green
The Archaic Past
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What is amusing about this is that the funding will have to come from the very nations that need bailing out. Bureaucrats and bailuts must stop or we will suffer like no other generations have.

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They who wish to hurt you, work within the law.
- Morrissey

Gold is theft.
Mo
Posts: 12158
Incept: 2007-06-26
Silver
Pa.
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We must be very close to the end, what with this acceleration in the looting.

You a-holes are no better than common looters after a disaster. Guess what, no one is gonna let you re-create your world. All the money in the world won't save you.

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Welcome to Pottersville
Preidt2
Posts: 552
Incept: 2009-07-31
Green
spokane/wash
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are elected really this STUPID????? Are they to lazy to do the real work of cuts?Is it to make us believe we are DEBT SLAVES? DUMP DEBT MAKE NEW MONEY RESTRUCURE MONIES OUT AND LETS MOVE ON.WHY IS IT NOT HAPPENING?

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Puppets Under Destruction
Shanearthur
Posts: 85
Incept: 2010-03-12
Green
na
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"International" Monitary Fund. Wow, that makes it sound so "people/government run". But isn't this organization a group of private corporations like the Fed?

If so, couldn't we give them an appendage to their name like "International Corporate Banking Cabal in Control of a Huge Public Monetary Fund" or something to that extent?

Rrasmuss
Posts: 916
Incept: 2007-12-22
Green
HHH WA
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Remember the quaint days when the machinations of these nitwits were confined to the "Third World". I get all nostalgic just thinking about it.

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I'm moving to California
Cogito Cogito, ergo Cogito sum, Cogito
Bsfootprint
Posts: 967
Incept: 2011-02-27
Green
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Preidt2 wrote..
are elected really this STUPID?????

No, but those who elected and continue to elect them just might be.

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When I hear central bankers are blowing bubbles, I like to picture a large, happy and well-endowed male chimp named 'Bubbles'...

Steelhead23
Posts: 2043
Incept: 2008-09-09
Green
Portland OR
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Just so no one gets confused about what is going on - the IMF is based in the U.S. and about 18% of its money comes from the U.S. Ergo, the IMF is a quasi-U.S. institution, that primarily does the bidding of the U.S. banks. The U.S. banks hold or have reinsured a bunch of this crap debt so the IMF is trying to protect U.S. banks, not its people or any other nation's people. I'm not sure what one should term a nation ruled by banks, but that is where we are.

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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
Smacktle
Posts: 1362
Incept: 2009-01-20
Green
Texas
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We need to shut down funding to the IMF and the UN. Let the rest of the world pay for this crap.

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The faults of the burglar are the qualities of the financier.
- George Bernard Shaw
J0nx
Posts: 3068
Incept: 2008-08-12
Green
The trashcan of the nation
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Harry Reid was re-elected by Nevada when they are suffering through the worst foreclosure crisis in the nation in that state. Much of that through Reid's own policies. Enough said about the intelligence of the average American when it comes to current affairs, voting and politics.

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The fraud and lies are only allowed to continue because the people allow it. Either through apathy or ignorance, they still allow it.
Anti
Posts: 4302
Incept: 2007-10-09
Silver
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Quote:
I'm not sure what one should term a nation ruled by banks, but that is where we are.


If a word could be coined that would bring the right mental picture to the man in the street, it might be forceful through novelty and help focus attention to the crux of the problem.

bankarchy
banktocracy

are my two off the cuff submissions. Is there a linguist in the house?

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Health is better than health insurance
http://gerson.org/
Over the past 60 years, thousands of people have used the Gerson Therapy to recover from so-called “incurable” diseases such as cancer, diabetes, heart disease and arthritis.
Mcmwest
Posts: 134
Incept: 2009-04-06

Western Kansas
Banned
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How about Banktatorship?

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According to NBER the recession ended in June 2009 so if you're broke and out of a job its all in your head.- Jay Leno
Steelhead23
Posts: 2043
Incept: 2008-09-09
Green
Portland OR
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Banktocracy sounds like the title for the next Michael Moore film.

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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
Damnitalready
Posts: 158
Incept: 2009-12-07
Green
Texas
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Quote:
are elected really this STUPID????? Are they to lazy to do the real work of cuts?Is it to make us believe we are DEBT SLAVES? DUMP DEBT MAKE NEW MONEY RESTRUCURE MONIES OUT AND LETS MOVE ON.WHY IS IT NOT HAPPENING?


There's an oft repeated saying - Never attribute to malice that which is adequately explained by stupidity - that I'm starting to attribute to the naive.

You can look at any one, maybe two, and possibly three, incidents and attribute them to doing the "stupid" thing. At some point people are going to have to wake up and realize that what is going on are intentional acts.

Quote:
Hey, *******s, all the money is already at the top. Are you having dreams of re-creating the world at the end of this with all that money?


They have "money", pieces of paper. If tomorrow a dollar was worth nothing, what would they have? What they don't completely have though is our assets, and most importantly our future labor, though they're obviously working hard at it. That, and keeping the financial charade going long enough to extract it from us.
Anti
Posts: 4302
Incept: 2007-10-09
Silver
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Kleptocracy is a term that has gained some circulation and is catchy and conveys some of the sense, but it deflects from the banks.

I like banktatorship.


----------
Health is better than health insurance
http://gerson.org/
Over the past 60 years, thousands of people have used the Gerson Therapy to recover from so-called “incurable” diseases such as cancer, diabetes, heart disease and arthritis.
Lenguado
Posts: 1272
Incept: 2010-01-12
Gold A True American Patriot!
Orlando, FL
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Damnit,,,,
Quote:
You can look at any one, maybe two, and possibly three, incidents and attribute them to doing the "stupid" thing. At some point people are going to have to wake up and realize that what is going on are intentional acts.

Go read, "The Creature from Jekyll Island : A Second Look at the Federal Reserve".

Gen may not agree with all of Griffin's conclusions or analysis, but Dang Nab It if it doesn't read like a phreaking BLUEPRINT for what has been going on over the last 3 decades, and even more so today.

FWIW

Edit: Oh yeah, and I vote for BANKTATORSHIP too. Awsome!!!

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I just realized... they aren't saying, "Keynesian Economics"
they're saying "Kenyansian Economics". Grass Huts for everyone!
smiley
Welcome to history’s first Double Dip Depression

Bsfootprint
Posts: 967
Incept: 2011-02-27
Green
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Damnitalready wrote..
You can look at any one, maybe two, and possibly three, incidents and attribute them to doing the "stupid" thing. At some point people are going to have to wake up and realize that what is going on are intentional acts.

I forget who said it, but I like it: "Once is an accident. Twice is a coincidence. Three times is enemy action."

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When I hear central bankers are blowing bubbles, I like to picture a large, happy and well-endowed male chimp named 'Bubbles'...
Peterm99
Posts: 4995
Incept: 2009-03-21
Gold
SoCal
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Gert Froebe as Auric Goldfinger

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". . . the Constitution has died, the economy welters in irreversible decline, we have perpetual war, all power lies in the hands of the executive, the police are supreme, and a surveillance beyond Orwell’s imaginings falls into place." - Fred Reed
Damnitalready
Posts: 158
Incept: 2009-12-07
Green
Texas
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I second/third Banktatorship, seems perfect...

Quote:
Go read, "The Creature from Jekyll Island : A Second Look at the Federal Reserve".

Gen may not agree with all of Griffin's conclusions or analysis, but Dang Nab It if it doesn't read like a phreaking BLUEPRINT for what has been going on over the last 3 decades, and even more so today.


I'll have to do that, thanks for the reference.

Quote:
I forget who said it, but I like it: "Once is an accident. Twice is a coincidence. Three times is enemy action."


*Exactly!*, and I like it too...
Jstanley01
Posts: 8182
Incept: 2008-07-30
Silver A True American Patriot!
San Antonio, Texas
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inline

"Calling all capital... Calling all capital... Painstakingly accumulated by the generations living in the Western world over the last five hundred years... Come out and be destroyed... Come out and be destroyed... The pigmen need it... The pigmen need it... That is all... Over and OUT."


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You can't cheat an honest man. ~P.T. Barnum
Matt
Posts: 5358
Incept: 2007-06-26
Green
Bothell, WA
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Given the fights over $3B in spending on Congress, it should "amusing" to watch the the political theatre around approving another $100B to the IMF.

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I love the smell of burnt pump monkey in the morning. -Etz
Azusgm
Posts: 2430
Incept: 2010-12-02
Green
East Texas
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Who needs the IMF when the ECB can use the FRBNY's U$D/Euro swap line?

Sounds like the central banks and the IMF may be tussling over who gets to establish claims over sovereign carcasses.
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