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| Ah, Truth.... (Nigel Once Again) in forum [Market-Ticker]
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Ct1977
Posts: 231
Incept: 2009-08-13
East Hartford, CT
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Karl, I know you don't have a crystal ball. But in your opinion, how long can these games keep going on???
Do you actually think we'll get to the point where the can can't be kicked in Europe or the U.S any longer? The central bankers and politicians always seem to put a band aid on at the last minute to extend the pretend a little longer. Are we due for a disaster in the bond markets or what?
In your mind, is there a time frame or expectation on how long this BS can be kept up??
-John in CT
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Ct1977
Posts: 231
Incept: 2009-08-13
East Hartford, CT
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The BS just seems to keep going and going and going. Will resolution ever come?
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Genesis
Posts: 130782
Incept: 2007-06-26
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We're in deep **** here and now.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Musicandnature
Posts: 1955
Incept: 2007-12-05
NJ
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notice the 2 smirking pigmen reclining while he preaches the truth.
One playing with his iphone- thinks himself too important to listen in.
Reminds me of Noah preaching to his neighbors to prepare for the deluge.
They laughed him off too.
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Since it costs a lot to win, and even more to lose, You and me bound to spend some time wonder'n what to choose. Goes to show, you don't ever know, watch each card you play and play it slow...Wait until that deal come round, don't you let that deal go down, no no. Garcia/Hunter.
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Blueskies
Posts: 72
Incept: 2011-05-15
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When stocks and bonds crash at the same time, it's gonna be a doozy.
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Flappingeagle
Posts: 1229
Incept: 2011-04-14
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How is it that HARDCORE DOOMER PORN can make me feel so good? Farage is right on the money, the EU, US, JPN, China are all swimming in debt-fueled economies and yet listenign to Farage makes me feel better. Gallows humor at its finest.
Flap
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Here are my predictions for everyone to see:
S&P 500 at 320, DOW at 2200, Gold $300/oz, and Corn $2/bu.
"You can't build a house of cards on a shaking table." - Tony Johns
The January 2015 AMZN put at $130 (cost $4.25) will be a winner.
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Leicestersq
Posts: 221
Incept: 2009-10-12
UK
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I wonder if someone can help me understand something.
I read today on the news that there are once again huge withdrawals of deposits from Greek banks, hundreds of millions of Euros. What I dont understand is where all those deposits are coming from?
Is it possible that the Greeks are fabricating those deposits?
The way the system of transferring money between EZ countries is like this I understand. Someone withdraws money in Greece. The Greek central bank asks the ECB to make a payment to the recipient country, say Germany, and the ECB deducts the money from the Greek account and credits the German one.
Only we know that Greece ran out of money at the ECB a long time ago and has no assets to pledge. So at the moment it can only get the credit for the transfer if the money is loaned to it.
So if the ECB is desperate to stop the Greek banks failing, and those banks probably have no capital as they presumably once kept GGB's as their primary asset, the ECB will give them that credit for every request so as not to cause a credit event? And in so doing, they will cause the amount owed to the German central bank to increase?
Doesnt this leave the system without the normal checks and balances? What is to stop Greek banks, making up deposits, and then transferring the monies elsewhere?
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Winstonsmith2009
Posts: 1060
Incept: 2009-08-05
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Ktrosper
Posts: 1500
Incept: 2010-04-06
ft collins co
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Music wrote..One playing with his iphone- thinks himself too important to listen in. He heard every word... The truth, spoken so clearly, makes men like him squirm.
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The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
Liberty exists now in the spaces government has not yet chosen to occupy.-Doc Zero
I anticipate that 10 Dallas Cowboys Cheerleaders will blow me this evening.-K.D
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Lugnut
Posts: 348
Incept: 2008-09-24
New Jersey
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Winstonsmith2009
Posts: 1060
Incept: 2009-08-05
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Music wrote - One playing with his iphone- thinks himself too important to listen in.
Ktrosper wrote - He heard every word... The truth, spoken so clearly, makes men like him squirm.
No, I don't think it does. He was most likely thinking, "It makes absolutely no difference what this one man says that virtually no one will ever hear let alone understand. We own governments."
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Smacktle
Posts: 1362
Incept: 2009-01-20
Texas
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A few people are speaking the truth and few are listening. Most people think that either things will continue to go on as they are or that something or someone will magically come along and fix everything.
Some anecdotal evidence is we had a big storm here yesterday, the wind blew really hard and knock a lot of limbs down. Where I live most of the people expect someone to come along and pick everything up for them, even if it's in their yard. Kind of like nobody taking a basket from the parking lot and bringing it in to the grocery store. They wait till they get inside to get their cart.
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The faults of the burglar are the qualities of the financier.
- George Bernard Shaw
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Aztrader
Posts: 6650
Incept: 2007-09-10
Scottsdale, AZ
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Jstanley01
Posts: 8182
Incept: 2008-07-30
San Antonio, Texas
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You can't cheat an honest man. ~P.T. Barnum
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Steelhead23
Posts: 2043
Incept: 2008-09-09
Portland OR
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Nigel is so damned refreshing. Who here on the forum would not wish to spend a few hours in a pub, listening to Nigel - and I'd guess he's pretty good with the ladies too. Hell, they crashed his plane and he still gives them hell. Long live Nigel Farage.
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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
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Jstanley01
Posts: 8182
Incept: 2008-07-30
San Antonio, Texas
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You can't cheat an honest man. ~P.T. Barnum
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Checkthisout
Posts: 167
Incept: 2010-10-01
Cary, NC
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Just got off a Fidelity conference call on the Eurocrisis. The first speaker started out very conservative by only describing a little bit of the history of the euro and then moved on to describe the current symptoms.
The bond fund manager was much more realistic. He basically said that the periphery countries' debts were going to be written down to some extent.
And by the end of the Q&A portion, all of the speakers were basically saying Greece would eventually exit the euro and default on all of its debt.
Go figure
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There are no gun free zones where free men tread.
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Mannfm11
Posts: 3551
Incept: 2009-02-28
DFW, Tx
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Amen Smack: I usually buy so little in one place or another that I don't use a cart, but when I do and am thinking about it, I will grab one out of the lot. Remember though, they used to carry your groceries out to the car. Leicestersq wrote..I wonder if someone can help me understand something.
I read today on the news that there are once again huge withdrawals of deposits from Greek banks, hundreds of millions of Euros. What I dont understand is where all those deposits are coming from?
Is it possible that the Greeks are fabricating those deposits? Leicester, all deposits are fabricated and the accounts are balanced by loans between banks. It is a shell game of fraud, developed by bankers and endorsed by the criminals they put in government. If banks didn't carry on this ponzi trade, they would all collapse in hours. It is my understanding the ECB has been loaning the Greeks money under various nonsense programs. They now have barnyard material for collateral and can't take the stuff out of the chicken coop, so they came up with a loan a week or 2 ago. Theoreically, there isn't any more money in the banks than collateral. Take a turd to your local pawn shop and see if you can borrow anything on it? That is what is left of the Greek collateral, but to admit it means the whole system of banking in Europe has its shell game punctured. This has a little to do with Greece and a lot to do with bailing out the ponzi known as banking.
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Mannfm11
Posts: 3551
Incept: 2009-02-28
DFW, Tx
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Checkthisout, the Eurozone might be exiting the Eurozone because the Euro is bank paper and the bankers are broke. who bails whom out, the bankrupt bankers or the bankrupt countries.
In other news, did any of you see Corker giving Dimon a blow job on C-Span? Maybe the questioning changed, but it appeared Dimon was on his way to becoming Jesus and JPM was heaven and salvation came when you got there.
He was asked about derivatives and hedges and if they didn't have them, wouldn't it restrict how much money they could lend? What they think is the solution is the problem. The problem is they loaned too much money in the first place because they found a way to pawn it off on some unsuspecting group that seems to have bought into the idea that JPM was a beneficial company and Dimon was a great operator that would never run a company that made bad loans.
Debt is not capital. At best, it is something used to acquire someone elses property. The property could be capital, but it also might be a turd in a couple of days. In neither case does the capital reside in the hands of the banker or the borrower. It is supposed to.
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Lugnut
Posts: 348
Incept: 2008-09-24
New Jersey
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So what exactly is the (non-central) bank counter party exposure on a greek default?
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Sparticlebrane
Posts: 287
Incept: 2009-08-25
Banned
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Quote:Most people think that either things will continue to go on as they are or that something or someone will magically come along and fix everything.
Some anecdotal evidence is we had a big storm here yesterday, the wind blew really hard and knock a lot of limbs down. Where I live most of the people expect someone to come along and pick everything up for them, even if it's in their yard. Kind of like nobody taking a basket from the parking lot and bringing it in to the grocery store. They wait till they get inside to get their cart. Maybe I'm missing your point. How do you know, exactly, that 'most of the people" where you live expect someone to come pick up their yard? Have they actually said that to you? Or are you just projecting, based on the idea that they haven't picked up their yards yet? People lead busy lives. My wife and I leave early in the mornings and get home late at night. Picking up sticks after a storm isn't exactly high on my list of things to accomplish as long as there isn't any property damage. I honestly can't think of a single person I know who "expects" someone else to come and pick up sticks in their yard. What is your point regarding the grocery store cart scenario? In my experience, 95% of the time there are carts available inside the store. Why grab one from outside when a huge majority of the time, you can grab one from inside...? And really...why do you care so much how other people grab their grocery carts or pick up their yard? These are, imho, pretty silly examples and don't go to show anything. Reason:
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Noodleman
Posts: 2393
Incept: 2008-11-01
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Check out the look on the other clown's faces in that room with Nigel. It's like they're clueless. Nigel smacks them up alongside the head with the raw truth and they mock him. They ridicule him. But I have to hand it to the British Parliament. At least they have one sincere lone voice of truth in the crowd. There's not even ONE Nigel Farage equivalent in the 535 of Congress. We might get a wolf in sheep's clothing like Ron or Rand Paul. Somebody to appease us in the short run until they get bought out by the bad guys and flip us the bird. But Nigel appears to be the real deal. It's like watching one sane man in a house of drooling lunatics preaching for rationality and acceptance of the truth.
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"Ammunition beats persuasion when you are looking for freedom." Will Rogers, 4 Nov 1879 - 15 Aug 1935
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2dogs
Posts: 2941
Incept: 2009-03-25
Land of the Lost
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You can't defeat the combined effects of massive voter fraud, the Free **** Army, and the entire bought and paid for media complex. This nation is done.
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Iou
Posts: 1027
Incept: 2009-03-16
The Twilight Zone
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Karl wrote..All you do by continuing to play that game is to make the eventual damage that must be absorbed by the economy bigger! TPTB must destitute the people first before the NWO plan can be presented.
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"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Frédéric Bastiat
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