So the Wikileaks guy is going to release some damning information regarding U.S. banks. Wait, let me guess, the documents will say the banks are hiding their fucking losses. Better yet, the documents will show bankers laughing it up, eating roast beef, as they slash jobs. Who gives a shit? The fucking government is bought and owned by the banks. They are at the top of the oligarchy. After all, we allow them to purposely hide losses via criminal accounting. Now everyone is all worried about some leaks? PFFFFFFFFFFFFFFFFFFffffffffffffffffffffffffffff.
Over in Europe, idiots working in slow motion are targeting Portuguese, Spanish and Italian bonds and CDS, pushing PIS verses German spreads to all time highs, as well as CDS to all time highs. It’s as if these vigilantes just learned today that PIS (leave off the last S for savings) sucks. Well, I have some news for you lowly types, PIS (Port, Ital, Spain) will not default. Worst case scenario, they will be tossed a nice bailout, with fucking ribbons on it. Go eat a piece of Italian bread and punch yourself in the face with a Portuguese dinner plate, instead of worrying about Euro defaults.
NO ONE LOSES in this New World Order. Quit bellyaching over shit that leads to dead ends.
On a separate note, stocks look to be heading lower, once again. Let’s see if the bears can make this one stick. However, just know, the first day of December is always a nice green one. So, if you are into hedging or selling short, do so with extreme caution, ahead of tomorrow’s scheduled and expected fuck fest. As for me, I might just take the day off. You need to understand, “The Fly” runs hot and cold. He cannot burn hot all the time, for he might burn out or explode. It’s important to unwind and not work too hard when it’s not needed. Working smart is just as important as working hard: never forget that.
Going into today, I have just 10% in cash. I might cut loose a few “scragglers” today, in order to reduce my risk profile.
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The Fly is God.
Indeud.
That wikileaks fucker’s head photo is currently being used as a pinnup on the1000 yard targets of a super-secret elite sniper outfit under the wing of the not-secret Illuminati Banking and War-Making Industrial Complex Club.
As if he didn’t work for them?
Most of the Wiki stuff I have read was pretty much public knowledge or nothing out of the ordinary.
Diplomats spying on diplomats, Saudis could care less about the Palestinians, Arabs not trusting Persians, Israel wants to take out the Iranian nukes, European and Arab leaders believe Obama to be weak, China pissed at North Korea, Italian PM loves the ladies, British royalty believed by US Govt to be snobs, etc. etc.
And like Fly says Wiki will probably show US Banks hiding losses, etc.
Big Yawn.
The National Enquirer has better exclusives than the Wiki Peter Pan “fairy like” Euro weenie guy.
The sky is blue, go2mars likes pizza, and fit women are considered attractive by average men. Where’s the news?
Dude:
There’s some real damage done by the Australian sack of shit. Whoe the fuck is going to trust any secrets given to US officials when they can be plastered over the web.
What worries me is that the little fucker in Korea hearing the Chinese think it would be better if the two unified could go all out and blast the shit out of sth K in a kamikaze style hit for one last time.
Ohh.. you are a specimen. Perfect example of brainwashing. Rest assured, you are not alone. have comfort that you exist in a shared illusion. The sheep that wanders off a cliff with 50 other sheep feels better about it than if he were alone.
Taco;
pass the bong brother.
Anyone who doesn’t smoke good weed is a flaming pussy to the max, if you ask me. If you can’t handle your drugs, you must be some kind of raging mental faggot who’s afraid of your own fucking shadow.
Taco: Gone, but not forgotten.
You’re definitely smoking something now, Tacs.
Nothing stronger than your television crack.
he he he
This time next year: all of you who do not own physical gold and silver will be building pyramids for those who are.
So that you know: pyramids were burial chambers for pharaohs. Don’t become one of them.
you don’t plan on dying? how are you going to manage that one?
I plan on burying.
In other words, I am a strong believer in deflation, en japonais. Why buy gold now if I can buy twice as much this time next year?
You must have forgotten that gold and silver historically perform well in BOTH inflationary AND deflationary environments.
Maybe you’re right and indeud gold is smth more than just an asset. I will, however, trust only in PPT screens to prove it to me.
He also believes that a deflationary fiat currency is possible.
Check again how long it took Weimer deutschmarks to go from “deflationary” to “hyperinflationary.”
Hint — I think it was about ten days, maybe less.
____________
I believe we will only get deflation as long as there is global confidence in the dollar, as all the cheap money being printed is getting hoarded: Meaning it is not making its way into the economy. The velocity of money slows down…prices drop. Yes there is your deflation.
But, as soon as faith in the dollar starts to spiral down, and i believe we are starting to see it, all these clambux that are being hoarded right now are going to flood the market. This is going to significantly increase the velocity of money and prices will skyrocket.
The question is are you a big enough player to determine when the exodus from the dollar happens? or do you have the inside knowledge when the big players drop the dollar? I certainly don’t. I only know that if I get out of the dollar now, I still can.
The one thing about owning physical gold or silver though is no matter what the price is at the moment, you still physically own that kilo of precious metal which will always have value. If you are right about everyone keeping faith in the dollar and all the fat cats fill their swimming pools with their dollars, my gold and silver still keep an acceptable value. If you are wrong: hyperinflation… and you’re basically screwed. pennyless.
Do you have faith in currency that can be created easier than I make a beer turd?
kilo of gold? Well done. And well stated.
I pass my thanks up to the Fly.
FTK. FOR THE KILL!
I guess you refer to QE when you say the cheap money is being printed and then hoarded. Well, QE does not add new money into economy, only swaps interest-bearing bonds which the banking system holds on its accounts with cash. Same as if money from savings account is turned into a checking account.
Now these Fed reserves don’t earn anything (as on a checking account), but don’t also get into the economy for the simple reason that nobody needs them. Corporations have enough cash on their balance sheets, and consumers are still deleveraging. Piling reserves into the system will not increase aggregate demand in the economy. Why should it? The AD will only increase if someone starts spending, and now, when private sector is clearly not doing it, and the Republicans are going to do exactly the opposite with their austerity measures, where will the AD come from? No increase AD, no demand-push inflation. Yes, because of expectations we saw come cost-push inflation, but it’s gonna do that much, because, again, due to lack of increase in aggregate demand there’s no increase in private income. No income and cost-push inflation results in even less consumption. And this is deflationary, and definitely not the other way around.
As for how to play it best, I don’t know. I’m only learning. Maybe gold is good in both environments, as Taco says. To me it’s an asset class, peculiar, but still an asset. And all assets, as long as they don’t generate income (as bonds, or some equities) by definition become cheaper in deflationary environment.
The Fed does pay interest on required and excess reserves- 25 basis points. You are correct that there is a lack of significant demand to change those checkable deposits into loans. We will get a clearer picture what corporations will do with their cash once taxes are decided by our “elite politicians.”
http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm
Mine has just bought back real estate which it rented before. To me it indicates they couldn’t find better investment (expansion of production or improvement of existing technology or development of new products) and just spent all the cash on itself. So, I see only three uses: M&A, dividends, and spending on bells and whistles.
Is your PFFFFFFFFFFFFFFFFFFffffffffffffffffffffffffffff the same thing as my BRAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAaaaaaaaaaaaappp??
If so, I recommend a diet of steel cut oats, sprinkled with gold dust.
Or, we will be mugging those who do.
Is this meant to confuse. Two headlines of stories on Google finance front page one below the other.
Home Prices in US Cities Rose Less in September Than Economists Forecast
Bloomberg – 1 hour ago
Sept home prices fall faster than expected Reuters
I gotta say, there’s some pretty good numbers coming out of the US these days. Suddenly the place looks like a sea of tranquility and clam (sic).
funny
Americans should mind their business. Why do they even care whats going on in Korea?
Why should 1 country be allowed to have Nukes and another not? Because America has showed restraint in the past?
I forgot, war is the last industry creating jobs that keep the ponzi scheme going.
Americans? Try central bankers that came from fucking Europe. That’s who is running the show.
Who do you think will set off the next nuke bomb? And where will it be?
Bad guys. Middle East.
Pacific Northwest, and will be blamed on Russia or the North Koreans.
Drama Kween Trader says 200 point down day today followed by 350 point up day tomorrow.
Giddyup!
Yes, take the day off and crash the wikileaks site, or throw M-80s at slow moving European workers. You’ve earned it.
rofl
It’s a EuroHoliday doncha kno. Novembre 30.
Oh and yes, we close green.
The Fly is correct. Good day to lower the control rods to cool the reactor. Not to mention, nobody can call this market, its zanier than a stripper on acid.
Eunuchs, their private eyes are watching you…and posting the results to wikileaks.
WikiLeaks showing America doing mostly known and mostly good stuff. In 250,000 cables there is not much there really. How the heck did an Army Private have access to all this stuff? What’s up with that? Did the Obama really want that stuff exposed?
I took the morning off too….well, I just overslept, 9am here in Calif…I really thought the bulls would just take my nice sell off away. Nice to see I can still play with it for awhile longer.
The Senate passed that bill for food safety so fear not fat fucks, you can go back to your dimly lit office and finish writing your episode of Buffy the Vampire Slayer.
Two companies worth looking at that deal with food safety/sanitation are ECL and NEOG with the better one probably being ECL judging just by its company description.
The can’t grow your own stuff bill (hidden tax on the tiney producers)?
That bill has the potential of being horrendously abusive to all segments of the ag producers. It gives the feds draconian power to regulate who grows what where, along with how the can do it. Smacks of ADM and Monsanto and further government intrusion into our lives. All nicely covered up as being “for the good of the people”.
My brother has a small meat processing facility that handles everything from on the hoof to in the casing. The USDA inspectors there are already batshit insane in their demands and regulations. The protocols are ludicrous to say the least and have little bearing on overall safety of the meat being processed. For the most part the inspectors are in CYA mode writing up anything they can dream of just to prove they are worth keeping around. Many are nothing more than run of the mill government bureaucrats simply manufacturing a job for themselves, aided and abetted by the histrionics of the main stream media.
Sheesh……..that hit a hot button………
http://chart.ly/7rgg3b5 Market profile charts of most major futures. ES has support at 1174, and volume resistance above 1190
In between those 2 levels,you don’t want to be short or long. Too much grind.
http://www.youtube.com/watch?v=Gv3KEGjy_cc
This guy needs to be in the loony bin .
http://finance.yahoo.com/tech-ticker/stocks-fine-for-now-but-then-dow-will-crash-to-5000-says-nenner-535663.html?tickers=^DJI,^GSPC,^IXIC,^SPY,^QQQQ,^TLT,^TNX