iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,395 Blog Posts

Fuck the Banks; Fuck Ag

Fuck ag and their stupid following. While it’s true, banks stocks are for asshats; ag plays are for loosers [sic]. As you know, “The Fly” is winning big today, via his [[MOS]] and [[POT]] short positions, not to mention his “overzealous” [[SMN]] holdings.

Sure, banks stocks are great. You knew [[MS]] would post a good number, no matter what. Just think, without the socialistic assistance of the Fed, most of the banks that are being bought in size here would have margin calls—and be on the brink of insolvency.

In my world, that doesn’t sound like an attractive investment opportunity.

I must admit, the whole JPM for BSC deal rubs me the wrong way. How the fuck does that deal get done @ 2 bucks? Seriously, the retarded folks at [[BSC]] got shafted, in order to save the system? Is that right?

Now, the Fed is pumping close to 600 billion dollars into the system. Some say “the Fed’s balance sheet is at the disposal of the banks.” Is that right?

Last time I checked, those Fed fuckers print money when they run out. So, essentially, they’ll just print as much as possible, in order to avert a financial crisis. Hmmm.

Well, once again, being solvent doesn’t make the stock a good investment. At the end of the day, all of the banks will be subject to intense scrutiny and regulations. Things will never be the same again.

With my money, I like my chances with [[SKF]] down here. Throw in [[SRS]] for good measure.

However, just know, if the bears are unable to mount an attack soon, this market may melt up to 12,700 soon.

Top pick: Short [[MOS]]

NOTE: With oil breaking here, I bought more [[DUG]] and [[DCR]].

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13 comments

  1. seller

    your server sucks more than ag stocks and BSC

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  2. The Fly

    Seller:

    This stupid site is still on shares server. Come Monday, the Godly folks from iBC will be on a dedicated server.

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  3. TraderCaddy

    I just came back from the Discount Window to pick up some lunch money. Uncle Ben says hello and the the boys at GS give their best to the Fly. I did see Bob Rubin propped up in the corner drinking a bottle of Ripple and he didn’t look so good.

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  4. ottnott

    The Fed is playing whack-a-mole…at $200 billion per game.

    http://calculatedrisk.blogspot.com/2008/03/financial-crisis-third-wave-still.html

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  5. Big Mike

    I told you guys to buy USO (get more bang for the buck)March Puts contracts.

    You would have made over 150% today alone. Near no risk, unless you thought OIL would have gone over 110/barrel(madness) with a stronger dollar.

    Commodities are breaking down…SMN is the absolute best play possible…jump on it hard.

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  6. alphadawgg

    Will the Fed will go to Treasury for more money when they run out of their $900 billion? Will Treasury raise more money by auctioning T-bills and bonds to investors? (who may pass on the auction, or at least demand higher interest rates.)

    Regardless, the banks are fucked right now.

    If a bank is basically insolvent, how does injecting liquidity, aka liabilities on the balance sheet keep it from insolvency? Strange times.

    This ain’t over until we get some failures on the books.

    The bottom will be in at the darkest hour.

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  7. mrkcbill

    The whole week has been comical.
    You have crisis call Sunday night with BSC… everyone on orange alert..25 Sunday night…75 on Tues…everyone in panic mode and now its rally time. Wait till this BSC fiasco drips out into the mainstream news.

    What a joke having all these financials lead the most actives…with 15 and 20% Swings everyday.

    3,000 sq ft homes and SUVs will be a thing of the past.

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  8. Ahmed Adoodee

    MER april 15 puts going beserk. Here we go again

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  9. wakeup call

    There’s a certain 76.5 year depressionary cycle where debt is climaxing, banks go bust, government control is in, neo fascism or a racist hatred fueling global war is in, civil liberties are out, increased police forces are in, and major empires with a fiat currancy that have over extended themselves globally in foreign policy, and have overspent feel the pain and go bust and collapse.
    every 25 years or so there’s a less severe cycle
    We’re basically in the 76.5 year cycle right now… dot com crash was like the 1929 crash, and right now we’re in like 1931… but we’re the bad guys this time, blaming terrorists as an excuse to go on a global invasion until we collapse, much like hitler blamed terrorism (that was an inside job, mind you), and used “defending the homeland” as an excuse to invade, and take away rights… and meanwhile stir up anti-semetic behavior that eventually became the primary factor, although it started as “protecting the homeland”
    Perhaps the Fed and our govt will manage to artificially divert the situation just long enough until all of the tens of millions of baby boomers retire and start collecting social securities, and withdrawing all their cash from the stock market, which in combination will be enough to put the american empire out of reality, and into the history books….
    oh yay, what glorious opportunities for those who are on the winning side of the storm, that is, if you like being rich while a bunch of bums follow you around begging for help everywehre you go, and crime rate up and all of that and police suspending most of your rights, and seizing your gold, while debasing the currancy.
    Someone is going to profit big time from all of this like the U.S did following it all.
    I think it’s like 1931 all over again, but I wasn’t round then, but from what I read, it’s pretty damn similar… Only thing that’s missing is the marching and the heiling and a collapse of democracy.

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  10. Yourmom

    Visa IPO’d two days ago. Great buy you asshat fly fucker.

    😉

    Ag FTW!!!!!!!!!!!!!

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  11. JakeGint

    Debasing the “currancy?”

    Is that like cutting the bottoms off a bunch of fruit?

    “Bush is Hitler,” how did I miss such an original interpretation??

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  12. astrologer

    you are correct there is a 76.5 yr cycle of the planet Pluto…
    wouldn’t say Bush is Hitler, hillary has more similarities… I’d give you a link about pluto and its tendencies of inflation, recession/depression, wars, control and high gold and oil… but I’m writing this on my iPhone so no copy paste…

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  13. Bluehairdkid

    I adore this site! I can stay up all night just to have fun and see new posts. I love to spend my free time this way

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