This plague's symptoms involve the transferring the private losses of bankers, brokers and financiers to the public at large via bailouts of free money, tricked up accounting rules, and blind ignorance of rule of law. It started here in the U.S. with TARP and is now spreading to Europe with Greece and now Ireland seeking a bailout. Portugal, Spain and Italy and most assuredly on deck.
I find it almost unfathomable as to what is transpiring. The Irish citizenry have been utterly and completely sold out by their politicians via their banking masters into debt slavery. I fail to comprehend how anyone with a firing neuron cannot conclude this to be an act of treason against the Irish state.
In typical fashion here is what one shill, who most probably has his career riding on the Irish and future bailouts, had to say on the topic;
“It was inevitable. Ireland had no choice but to get financial help,” said Nicholas Stamenkovic, a fixed-income strategist in Edinburgh at RIA Capital Markets Ltd., a broker for money managers. “The market will still be waiting for the details of the assistance and the conditionality, but there should be a relief rally tomorrow.”
And you wonder why I loathe these maggots. Spineless opportunists who adhere to heads I win, tails you lose. In response to Mr. Stamenkovic's unmitigated statement of self-preservation I will simply say that Ireland most surely has another choice. That being to tell the bankers and the rest of Europe to F*%$ OFF ! The banks shall eat their losses as is customary in any free market economy, assuming you understand the definition of 'free market economy'.
Then, in a fit of shocking sobriety, exhibit some backbone and follow the crumbs and start prosecuting the bankers responsible for this ponzi financial pyramid with some sentencing that sends shock waves throught the financial community of Europe.
Do this Ireland and I will be the first to step up and buy Irish bonds with both hands. My guess is that countless others with some common sense will do the same as well.
Did you happen to catch the "bought and paid for" piece of work Frederick Mishkin on the propaganda network (CNBC) this morning? Did you even need the sound on to notice that it is bullshit rather than brilliance that emanates from Mishkin's mouth and only to the highest bidder.
Regular visitors to my blog might remember my piece Frederick Mishkin - Corrupt Imbecile a few months ago. If not, I encourage you read how this former Fed governor, titan of monetary policy was paid $124,000 by his many banking pimps - in this case out of Iceland - to pen a glowing report on said economy back on 06'. Mishkin not only failed to disclose this compensation in lieu of glowing report, but the report mysteriously had its title changed once the economy blew up spectacularly.
You might think that someone from a 'financial news' network like CNBC might be interested in broaching this subject with Mishkin. You might think penning complete horse shit, for the Icelandic banking cartel for a fee without disclosing it might be newsworthy? Well, you'd be wrong if you thought this for if you did you would be confusing the propaganda network known as CNBC with a serious financial news outlet interested in getting out the truth. Digging into this conflict of interest travesty, with a former Fed governor would require the monumental investigative journalism skills of Hansel and Gretel or maybe those of a freshman undergrad journalism major.
Go to CNBC's websit and you can catch the video of the interview here. Couple of Mishkin's comments really stuck out to me.
"QE 2 only would be something that would have powerful effects if it was very large" and 600 billion is not a very large program."
When asked whats large he replied;
"a trillion, trillion and a half."
I really gotta hand it to those bankster terrorists, when they buy and pay for a shill like Mishkin, they truly get their money's worth. No pikers allowed around here.
Hang on now. It gets better later in the interview when Mishkin identifies the Feds dilemma as;
"unfortunately the Fed has gotten into a box in the way that they communicated this whole strategy was very, very problematic."
Yup, if the Fed would only spin the story better us simpletons would then 'get it' and all fall in line lovingly knowing the Fed has our best interests in mind.
I encourage you to watch the entire clip as it is yet more evidence in helping you understand why we are where we are as an economy. Paid mercenaries like this are in the decision making chairs. Their policies and decisions serving their masters interests could never be in question, only their delivery or how they couch the wording of said policies. how truly pathetic and sad for our nation.
Insider Trading Scandal
It seems there is trouble in hedge fund land. It seems the valet boyz have been engaging in some illegal activity. Can you imagine. I know how shocked you are given the impeccable reputations of the schools that churn these psychopaths out.
Could it be that the white shoe boyz set are like that? I thought it was only the hoods from the 'other side of the tracks' that did that stuff.
Expert Networks huh. That's what you're calling it now. I wonder if rail yard workers the likes of Griffiths and Steffes were part of that network? Its all too funny. By the way, it couldn't be happening to a classier bunch of down to earth type people now could it?
I will say it again to all you parents out there contemplating sending your son/daughter, or niece/nephew to a prestigious Ivy league school for that fantastic biz school education your pals rave about on member guest day. Do yourself an enormous favour and go buy 2 movies.
The Sting and Boiler Room.
Please note that after watching Boiler Room, you will fully understand that the only difference between J.P. Morgan and J.T. Marlin is simply cufflinks.
These 2 movies offer a treasure trove of information as to how Wall Street's machinations work.
It's all in there.
All sarcasm aside, there is more educational material in these 2 movies than 4 years plus gone and hundreds of thousands wasted, no, dumped into enhancing the professors 'Guilded Edge' retirement plan' could ever hope to provide.
Your children and yourselves will learn more about the inner workings of our capital markets in these 2 movies than they ever could from the likes of Mishkin & Co.
I beg you , trust me on this one you won't be disappointed !
I see the NFL's Minnesota Vikings fired coach Brad Childress today. How fitting. The team's poor performance wouldn't have anything to do with Brett Favre now would it? Would be so politically incorrect to go and fire the 'golden boy' as that would require real onions, alongside acknowledging the facts of the issue which seems to be avoided at all costs over here in the U.S.A.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
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