Debt Rattle February 9 2018
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Horacio Coppola Florida y Bartolomé Mitre, Buenos Aires 1936 • Dow Plummets 1032 Points, Down 10% From Record; S&P 500 Drops 3.7% (CNBC) • Is T
[See the full post at: Debt Rattle February 9 2018]https://www.zerohedge.com/
A very chaotic read today (normal?), including a suggestion the dollar return to a gold backing.
I laughed; the U.S. could not survive under that kind of constraint…News flash: the 10 year US Treasury isn’t going above 3% for more than six months. The American economy cannot handle it. Similar for the G-20, if not lower. Let us call it semi-collapse.
Yesterday, I said, what I thought was going to happen today.
“Watch for the printing press to spew out dollars to bring thing back up to normal
Here is what I read
China’s central bank said on Friday that it has released temporary liquidity worth almost 2 trillion yuan ($316.28 billion) to satisfy cash demand before the long Lunar New Year holidays.
Of course, I don’t know anything. Of course, all those people who do know everything, never advised you to sell.
How do you explain to an ordinary person,
where did all the money that was lost, go?If there is a seller there must be a buyer.
Stock market value wiped out equals $2.5 trillion and counting…
John MelloyYesterday, I said, what I thought was going to happen today.
“Watch for the printing press to spew out dollars to bring thing back up to normal”http://www.businessinsider.com/congress-passes-massive-budget-deal-end-government-shutdown-2018-2
Congress passes massive budget deal before sunrise to end government shutdown
Two weeks ago I sold you my thingamagig for 100 units.
Yesterday my brother bought the tingamagig from you for a 4% less.
You lost and I gained.
This kind of transactions resulted in (at 4%) 2.5 trillion dollars loss for the new sellers and a 2.5 trillion dollar gain for the old seller.The gains have gone to smart money and the losses have been taken by the dumb money.
I spent some time today helping a UK-born friend of Irish ancestry get hold of the birth certificate of one of his two Irish parents. It was not easy, but it is necessary in order to get an Irish passport. My friend’s 3 adult kids will be able to get Irish passports as they have an Irish grandparent’s birth certificate.
If anyone needs help, let me know 🙂
anassim at gmail dot com
BTW, the Italians have a similar law – but I know nothing about it.
For many years I donated to Médecins Sans Frontières. They do a good job at providing emergency medical care in poor countries, but now they have apparently decided that they should be in charge of Europe’s immigration policy. So in 2017, for that reason, I stopped contributing.
Yes Italians have had enough. They have seen immigrants invade Italy, most of which have no claims to asylum. Having for the most part no hope of getting any sort of job, the refugees can only be a burden to the already crumbling italian welfare state while the others can at best hope to sell cheap counterfeit junk in piazze, hang around the stations harassing girls, selling drugs, mugging the weak for their phones and, occasionally, eviscerating and dismembering the odd young roman woman.
As a result, the socialists are down to 20-25%, the right – and indeed they are screaming bloody murder about immigration – around 35-40%, and the 5 stelle [that called for “an immediate stop to the sea-taxi service” bringing migrants to Europe] around 25-30% range.
So at the moment it is “Stop the out of control immigration before it destroys Italy” by a landslide.
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