I appreciate all of the prodding of my fellow iBankCoiners, for trying to get me long this market. Believe me, I value your insights and candor. Having said that, I no longer desire to live in this country and have decided to move, once again, to the mountains of Romania, where I will run the green fields naked and raise goat for food. This life on Wall Street is not for me any longer.
If you are wondering how “The Fly” feels about today’s tape, look no further than this eloquent, insightful video.
[youtube:http://www.youtube.com/watch?v=6rmWnwtps6I&feature=related 616 500]Off to live a noble life in Romania.
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FIG!
Goat herding is the noblest of all callings.
Baa!
Don’t….you know…get too carried away over there.
(Now you don’ mess with a man’s goat, hear?”)
Charbuckles is opening a franchise in Romania!
in soviet russia, goat herds you!
Video is awesome, there pretty tough……..until the skates come out!
Kaiser wishes you would reconsider.
Once you establish yourself place an ad in the Washington Post for a goat fucker position on your farm. Mr. Obama will be out of work soon enough…
767 days to be exact.
I hear there are a few openings for “tour guides” of Dracula’s Castle….
We all know Dracula has reinvented himself as Dr Roubini.
However-Roubini doesn’t live in a castle, he lives in one of those underground submarine bases, like a james bond villain.
Goodbye Sir Fly. Don’t forget to send postcards.
Be careful where you sit inside those maxi taxis (as they call them over there).
Plenty of strange odors.
Did I just detect a whiff of capitulation?
What? Come on Fly ! Definitely you made the wrong call the last month. But you are up a lot the last couple of years and then some this year and even this one trade this year with VXX/TZA will not set you back too negative for 2010 or at all. Fuck man, just take your lumps now and go to cash and see what happens after the elections. One bad trade does not mean you have no idea what you are doing. You do know what you are doing. The problem now is that you are competing against the might Robots and The Fed. Caution is the advice This time you were a little bit more stubborn than what you should have been. Lesson learned. But I am sure you know that already. Just move the fuck on !
And trade again with the skill you have shown to us. Again, caution is the word now. Go long with one foot in the exit, but do not go short for fear about getting squashed by the Robots and the Fed. Going short is the harder trade now instead of just going long. But “buy and hold” will not get you anywhere either. Timing people.
You are taking Fly’s post way to serious. He’s sitting on a pile of cash bigger than Mount Rushmore. Don’t fool yourself into thinking he really need’s a picker upper. And how many times are you going to post timing is important. No shit Sherlock! You’re a fucking genius.
I’m sure nobody on this site has ever realized that before.
A pile of cash? I do not believe that. From his posts, Fly indicates that he is long a lot of VXX/TZA in his personal accounts if all of it. Not his client’s accounts, though, but his personal accounts. You need to make a distinction, Sherlock! Fucking Genius !. He is trading two very different styles in his accounts, and on his personal accounts he is getting creamed. Before you make such a dumbass comment liek yours, make sure you specify whether you are referring to Fly’s client’s accounts or his own, dumbfuck !
lol…the irony.
hey mikey.the dude turned 5 mil from vxx alone last yr,,,,,,,its the houses money somewhat
the question is why do you care so much?
“to move, once again, to the mountains of Romania, where I will run the green fields naked and raise goat for food.”
That was good. 🙂
http://www.radiumwoodcarver.com/about.php
Merlin spotted
I heard SHOMPING in Romania is huge
My daughter, having survived two years in the Peace Corps in Western Romania) can tell you where you can get a Sovit style apt.
Oops. Hit the wrong button.
My daughter, having survived two years in the Peace Corps in Western Romania, can tell you where you can get a Soviet style apt. for cheap. No heat and you can’t run the refrigerator and TV at the same time as the aluminum wiring in the walls will smolder. You can put your food out on the balcony in the winter to keep it cold.
Oh I almost forgot. Watch out for the packs of wild dogs that run around as many were turned loose after “freedom” came because the owners couldn’t take care of them.
Good luck.
Correction. That’s not Soviet. That’s Gypsy.
fuck that,im not dumping my vxx……even though i was lucky enough to get in cheaper.does conviction trump discipline here,or does the disciplined stay deep in the conviction? they can shake that tree of weakness as fucking hard as they want,my ass is welded to it,we lived and traded thru the fuckery of last part of 07, and all of 08. fuck the games, im standin with positions long and short.even though this is all make believe good times market
WTF is the fascination with Romania and goats? Explain to me. Fuck Romania and raising goats. Just get back to your successful trading like in the past. So waht, you had one bad trade. Move on like you have said many times before to some of your bloggers. You are better than that.
banned
Soda out nose lol
LMAO!!!
either that or re-institute the complex addition problem posting “barrier”, lol
the fascination,romanian goats have big tits,and no teeth………roflmao
Whewww! I was scared another ice cream truck was gonna come out from nowhere
ha ha, I thought that was the ice cream truck guy
double goat burger w/feta cheese and romanian fries no coke-PEPSI
What the cock is this shit?
great one.
that UFO they spotted in China was just Fly taking his spaceship out for a spin
I’ve got a gay 3 legged romanian goat as a pet Dr. Fly
Too many inside jokes making zero sense to me. I will take my leave until until The Senor “returns” from Romania.
Not a joke. He is going to Romania to speak at VXX University, where he recently received an honorary doctorate due to his generous donation. I can confirm this because I am a student there and just recently paid my tuition bill.
VXX university sent me a promotional video the other day.
http://www.youtube.com/watch?v=Y-T7yPJVvXw#t=0m22s
I’m thinking of going there myself to get a degree in Shomping.
One course I am pretty excited about is “Profiting from FTK and other bankrupt companies.”
Thinking of joining the fraternity Mu Mu Mu. They like to milk goats which is the mascot of the “Fighting VXX Shomps.”
escape from new york
I will soon get my diploma there with summa cum laude.
Good luck with the job hunt. I hear VXX U has an excellent careers office. Fly is looking to hire.
Your family must be proud with your achievements.
How was the food in the dorms?
I hear the goat fritters are great.
VXX U was a great school of life. Fucks you on day one, so nobody stays a virgin by the time of graduation. But job hunt is never a problem with such an excellent diploma. VXX U graduates have guaranteed employment in Obama administration, and the Fed. In fact, it is believed that their chairman is an honorary doctorate. Hence his beard.
How was the class titled “Cheating on your Taxes and not getting Caught”?
I hear Professor Geithner grades tough but can get bought with drugs and Boone’s Farm Wine.
I also heard that VXX U is going to bring in a keynote speaker at your graduation. Some guy named Fly who is supposed to talk about goat farming for fun and profits.
LOL
so funny shit here today!
You can’t roller skate in a goat herd, naked or not !
Unfortunately for “Mike,” he will no longer be able to access iBankCoin, including all blogs, even the PG.
Mess with me and I throw you in jail. Never assume you can talk to me with disdain.
Don’t worry mang Greenspan just said the dollar is strong
TO THE FAZMOBILE!!!
“… appreciate all of the prodding of my fellow iBankCoiners… value your insights and candor”
Who are you, and what have you done with The Fly???!!!!!!!!
Mike fucked up
I’m going to think out of the shoebox a little here. The Fed is all about communication these days and what they are insinuating is that FURTHER expansion of the balance sheet could support the economy. When
members of the NFIB were questioned what their main concern was, the main response was “poor sales,” not interest rates. While I think lower long term rates can be accommodating by adding money to consumers/businesses that would have otherwise been spent on interest payments, yields are at historically very low right now and debt issuance for many companies has been easy peasy.
By owning alot of the shorter and middle of the curve from the short term bills up to 7s and 10s already, the Fed is exposed to taxpayer risk. If they purchase and continue to buy the long end of the curve, they begin to shift from interest rate risk to taxpayer risk because they will dictate long term rates. This also essentially changes market sentiment that the Fed owns the curve and holds power beyond its mandates. If people question the Fed’s credibility of them controlling the curve to create a tidy spread on their net interest margin to feed back profits to the Treasury, that oversteps their tenets.
So then the Fed’s risk and America’s risk is placed in the hands of the taxpayer. If the Fed moves its hand towards intent to buy the long end of the curve it tips the markets but I think their interest is to have the taxpayer’s assets increase while their liabilities increase (where liabilities are Treasury issuance). Since consumer demand is clearly not transpiring, employers aren’t hiring and driving income, inflation is low, and the consumer is deleveraging vis a vis household debt prepayments/paydowns, the Treasury should allow taxes to be cut because the Fed is essentially buying up that short term debt. Therefore as currency enters the system, closing the 100bps gap in the PCE deflator, the Fed should be able to allow the bonds they own to runoff or sell them to reign cash back into their reserves when the money supply begins to expand and inflation increases back to their target of 2.5%. The yield curve would then normalize too.
QE doesn’t add new assets into the economy. It only swaps interest-bearing papers for cash, which reside as the banking system’s reserves. Fiscal expansion, on the other hand, would help the economy, by increasing government spending and consumer spending (via tax cuts). That is why market rallying right now due to QE expectations is a bubble. However it will become real if Obama goes for fiscal expansion via additional spending and tax cuts. Shall the Republicans come to power with their austerity agenda, that will only add to the deflationary thesis.
Those reserve accounts at the Fed generate interest at 0.75%, a percent declared by the Fed. The cash held by the banks give them the ability to offer checkable deposits which are pretty much licenses for the banks to create money. Fractional-reserve banking.
They have always had this ability. Before QE and after. The problem is the absence of demand for loans from private sector, which is de-leveraging. Banks are never reserve-constrained. That’s why QE2 pursues some other purposes (here I assume that Ben & Co. have, by this time, already come to realization of its futility to affect the money supply, and thus conclude that they’re after something else.)
The advantage of QE is that it allows credit to be disbursed over a large swath of industries as it trickles down from the banks. Tax cuts would essentially do the same thing but would work on the asset side. Government programs like “Cash for Clunkers,” green-friendly credits, and house credits only target specific industries but still do provide expansion of money.
For credit to be disbursed there must be demand. Which is absent. As I said, private sector is deleveraging, and corporations have piles of cash. Mere availability of reserves adds nothing to the borrowing capability of the nation. Tax cuts, however, might help, and therefore, are preferable to QE. This stuff works in balance-sheet recessions, like this one, when there’s output gap and aggregate demand is insufficient to absorb idle capacities of the economy. Giving the nation possibility to have credit vs. increasing the disposable income would lead to different outcomes. That’s why this rally is bubblelicious and will be fundamentally supported when the administration approves tax cuts. I’ll position myself accordingly then.
chew on this.if everyone with a credit card in this country paid off their balances in full,this country would collapse in less than 3 months. fucking end game
Perhaps a good omen/portent?
I had breakfast at this place today.
I will get you a tee shirt or a hat from it… no worries, they are “classy.”
It’s pretty freaking beautiful up here, I can see the appeal for all the crazy hatfuckers that make this nutty state their home.
__________
This is from the back story on the restaurant/area… check out the names of his kids!
The Boon Fly Story
The Boon Fly Café is named after a Carneros Pioneer whose actual, given name was Boon Fly. He had the vision to plant vineyards and orchards in the Carneros Region in the early 19th century on land that is now partially occupied by Bouchaine Vineyards. Descended from settlers of the early New England Colonies, Boon was part of the great tradition of Wagon Trains that brought many of the early families west.
On May 24, 1849, Boon Fly led a Wagon Train out of Fayette, Missouri where he had been a maker of silk and fur hats. Entries in the diary he kept as the Wagon Train leader trace some of the more vivid details of that four month journey to Salt Lake City, Utah, arriving there on September 12th. Eventually Boon Fly and his family made their way to San Francisco and instead of panning for gold; he made a modest fortune as a carpenter. Drawn to the farmlands north of San Francisco, he settled outside of Napa on property that would become known as the Fly District. The Fly District School was the first schoolhouse in the area and many of our current Carneros neighbors have ancestors who attended this one-room structure.
Married to Maryann Percival in 1834, Boon Fly had 9 children; Alice Jane, Camila Ann, Leonidas, Quintas Cincinatus, Flavius Josephus, Robert Percival (a Texas Ranger), Boon Fly Jr., Mary Boon, Weber Watson and Camilus Sydney also known as Buck. Boon Fly died in Napa in March of 1864 and is buried in the Toulucay Cemetary on Coombsville Road.
____________The Boon Fly Story
The Boon Fly Café is named after a Carneros Pioneer whose actual, given name was Boon Fly. He had the vision to plant vineyards and orchards in the Carneros Region in the early 19th century on land that is now partially occupied by Bouchaine Vineyards. Descended from settlers of the early New England Colonies, Boon was part of the great tradition of Wagon Trains that brought many of the early families west.
On May 24, 1849, Boon Fly led a Wagon Train out of Fayette, Missouri where he had been a maker of silk and fur hats. Entries in the diary he kept as the Wagon Train leader trace some of the more vivid details of that four month journey to Salt Lake City, Utah, arriving there on September 12th. Eventually Boon Fly and his family made their way to San Francisco and instead of panning for gold; he made a modest fortune as a carpenter. Drawn to the farmlands north of San Francisco, he settled outside of Napa on property that would become known as the Fly District. The Fly District School was the first schoolhouse in the area and many of our current Carneros neighbors have ancestors who attended this one-room structure.
Married to Maryann Percival in 1834, Boon Fly had 9 children; Alice Jane, Camila Ann, Leonidas, Quintas Cincinatus, Flavius Josephus, Robert Percival (a Texas Ranger), Boon Fly Jr., Mary Boon, Weber Watson and Camilus Sydney also known as Buck. Boon Fly died in Napa in March of 1864 and is buried in the Toulucay Cemetary on Coombsville Road.
He must have been a big fan of Herodotus, and maybe The Rise and Fall of the Roman Empire.
____________________
I can see Boon Fly Jr. posting soon on this blog.
I see Boon Fly had 9 kids.
That must be Fly’s great grandpappy.
I suppose Fly is happy to hear his great grandpappy was a carpenter in an honest line of work.
He could have been a riverboat gambler or a horse thief.
Do yourself a favor and hit up The French Laundry, THAT is decadence.
Indeud.
Also their rustic Chinese place down the street – No Tickee, No Laundry.
Yes, did the Laundry last time around, and “agreud” most heartily.
__
Shit, sorry about the double paste.
I’m on the road, ovah heah.
____
Latest Headline:
Bank Of America to move headquarters to Romania due to complete and utter fucking incompetence
Largest directional trade, (Short NFLX via options of every single expiration available and all; in the money, @the money and out of the money categor), in the last three years!
” I no longer desire to live in this country and have decided to move, once again, to the mountains of Romania, where I will run the green fields naked and raise goat for food”
This might end up being a far better option than trying to survive in the crazy concrete jungle most of you call NY!
We are all fucked…I am “almost” as sick of this administration as the last one. This adm. had the opportunity of the LIFETIME to make a difference and they BLEW it. Sorry, it’s too late now. The US economy, and in turn, the global economy is toast for the next decade. Even the wealthy will suffer as they will not have the safety needed to ‘enjoy’ their stolen prosperity!
even the fucking commies I grew up with were able to spur inflation…just ordered the banks to lend, PERIOD! We are not even managing this. Deflation/deppression is in the cards and it will hurt BIG TIME!
In the wirds of Hendry: Panick!
If any of you cocksuckers comment on my spelling/grammar, I will personaly come and fuck your wife and force you to watch…teach you how its done, sort of speak.
cheerio motherfuckers!
you misspelled depression. It is depression, not deppression. Now come fuck my wife. BTW, she is fat, ugly and smells bad, but you said you would do it.
“Wirds” should be “words”. And I only have ex-wife. Your threats are meaningless in this context.
“categor” should be “category”. And if you get within one mile of my house just be sure you have written your last Will and Testament. And it won’t matter if you did not want to be cremated.
In your case, I’ll just force myself into your mouth and have your wife learn how its done!
I like Obama more than Bush as a charmer. But Obama is clearly even worse than Bush as a politician. And that is saying a LOT!
I actually thoug ht bush was much more of a charmer than obama despite the favt that everything he did was wrong!
NFLX is the loved stock that turns into the hate stock like KKD, CMG, CROX…you get the idea. You can bet your life that this stock will trade at less than $20 in the next 2-3 years. Oh, I don’t give a fuck about the idea that blockBASTARDS is out…so will NFLX. Just check out all the free, online sites you get all these movies for free…how long befre everyone goes here insted of having to wait for mail fo their net move to come in from NFLX. Dead idea and a stock worth less than $3. Short this cocksucker with everything you’ve got! and than some
you are woefully mis-informed
anyone who uses this word; ‘woefully’ is a cocksucker! And please, do tell, why? You know…if you make idiotic statements, I am sure, tyhere’s an equally idiotic belief behind this stastement. What is your degenerate belief?
tyhere? stastement? That is woefully poor spelling. Probably tied to idiotic beliefs. That is my degenerate belief.
I should probably add that you used the word ‘free” twice in one sentance about the same thing. Then there’s befre, insted, net move instead of next movie, and I believe you meant to finish with “and then some”. There are other errors as well.
Just being an idiot because you were Joe.
how do you spell sentence, cocksucker. I rest my case!
Hahaha. You got me. You Cocksucker!
If you are considering Romania, I suggest living upstream from Hungary.
Nice.
OK…now appologies all around…I have to go…cocksuckers!:) But before I go, realize that NFLX short will make you oooodles of paper money:) Great weekend to all you worldly gentleman!
I love this. Even without the skates it is already completely outrageous. I think they are dead serious