The role of central banks: Bail Outs via debasing

Discussion in 'Your Bloody Soap Box' started by Hein-Verbruggen, Sep 13, 2007.

Thread Status:
Not open for further replies.
  1. Hein-Verbruggen

    Joined:
    Aug 19, 2007
    Messages:
    188
    Likes Received:
    0
    Myths exploded:
    http://www.mises.org/story/1627

    1) Cental bankers are independent of each other. FALSE, they act in concert
    2) Central bank never intervene in matters of private equity. FALSE Long Term Capital, the and the law of big numbers disproved this
    3) Prudent Man doctrine influences central bankers FALSE, they react to market meltdowns as any caged rat would to a flame
    4) Central bankers will NOT interfere with bankcruptcies resulting from failed judgment. FALSE, case by case basis exceptions, LTC was bailed out,

    Modern central banking policy: Bailout economics, steroids for sick rich patients.

    1) 1987 stock market crash fallowed by the Alan Greenspan legacy action
    October 19, 1987 Policy statement: "The federal reserve, consistent with its responsibilities as the nation's central banker, affirmed today its readiness to serve as a source of liquidity to support the economic and financial system."
    2) LTCM hedge fund was bailed out in October 1998
    3) Wall Street equity melt down in 2000
    4) Fixed market commercial credit crisis (present bailing underway)
    5) CDOs, SIVs, off-shore hedge funds, Big Bank loans to sick hedge funds (underway with open market purchases of junk notes by both ECB and US fed)

    'It was merely a question of how you would do it, not if' Big Al.

    We're off the Gold standard for a reason. So that central bankers can override currency and debase consumers, in order to subsidize fraud and hedge fund errors of judgment and out-and-out off-shore crimes.

    The legacy for all central bankers is to act to debase currency as needed. To be the lender of last resort. Wall Street will NO LONGER trade in CDOs, therefore, central banks must buy them and hold them until maturity/or default. ($5 TRILLION US might get that done, maybe)

    Today, junk paper bailouts are needed bigtime, along with rate cuts.

























































    http://www.cyclingforums.com/t467644.html
     
    Tags:


  2. Wurm

    Wurm New Member

    Joined:
    Aug 6, 2004
    Messages:
    2,203
    Likes Received:
    0
    Corruption, deregulation, and manipulation. It's all good!





    NOT.
     
  3. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    So your summation is this statement. I thought your whole post was saying the opposite.
     
  4. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    Oh yeah. And all the world's big money insiders know about the dark times ahead, including the strapped out hedge fund managers. That's why they're all madly BUYING US stocks and treasuries at the moment. They're getting ready for the hard times ahead.:rolleyes:

    So the world's banks are conspiring to deny you the financial crisis you so desire. What Bustards.:mad:

    How's your property doing in San Francisco? :( The high end sales are going up and up in my neck of the woods. :) Then again we don't have people who gave up their day jobs to become "Real Estate Investors/Flippers" overnight.:p


     
  5. Wurm

    Wurm New Member

    Joined:
    Aug 6, 2004
    Messages:
    2,203
    Likes Received:
    0
    "Good times coming" my ass.

    http://globalresearch.ca/index.php?context=va&aid=6816

    Meanwhile, the Kool-Aid Drinkers will keep on as if nothing's amiss.
     
  6. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    The market of millions speaks louder than one doomsdayer who is so inept at predicting the market that he has to get a day job as an economic commentarist.

    Doomsdayers are a dime a dozen. They've been around since Adam and always manage to attract a fearful ignorant crowd. Just reading a small portion tags it so.

    Watch the market closely. It is telling you how the smart money is voting on this issue.....

    Sometimes you wonder how others don't see it. It's not a given obviously. It just sways the odds. Hearing all this SELL...SELL...SELL stuff is so reassuring when you are trying to assess the domino risk in this crisis.

     
  7. Wurm

    Wurm New Member

    Joined:
    Aug 6, 2004
    Messages:
    2,203
    Likes Received:
    0
    Yes, the "smart money" has voted so well lately. :rolleyes:

    The "doomsdayer's" - many of them - have been predicting the current results for quite some time now, and have proven to be correct.
     
  8. thoughtforfood

    thoughtforfood New Member

    Joined:
    Jul 24, 2007
    Messages:
    2,476
    Likes Received:
    0
    There is a difference between an economic slowdown and an economic meltdown, and the "doomsdayers" see a world in which Mel Gibson will have a souped up Interceptor to police the mutant hoards. On the other hand, there are many who see this as the inevitable outcome of lose credit, but far from being a colapse. Just as with the dot.com boom/bust, there is a correction going on, but as a whole, the economies of the world are still on the rise, and are still well above being controlled by any one given entity be it the Fed, World Bank, or the local Hooters. Unrealistic panic is the real problem here, and "doomsdayers" are only delaying the positive growth that is and will continue to happen in many markets. Stop buying into the Road Warrior scenario, it is not real. The land and homes associated with this market are not going anywhere, and eventually people will develop safer ways to get back in because there is money to be made.
     
  9. Wurm

    Wurm New Member

    Joined:
    Aug 6, 2004
    Messages:
    2,203
    Likes Received:
    0
    As ugly as it often is, I prefer to observe reality...not delude myself with false optimism and cheery minimization.

    YMMV.
     
  10. thoughtforfood

    thoughtforfood New Member

    Joined:
    Jul 24, 2007
    Messages:
    2,476
    Likes Received:
    0
    The reality is the there was an over correction in the housing/mortgage derivatives market because of opinions such as yours. However, getting people to understand that is very difficult. People prefer pessimism because the fall is much shorter if they take one.
     
  11. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    Ahh.....so.....

    Wurm = Polyheme.boost = Hemopure = Hein-Verbruggen = Holocaust = Doctor.House = flyer.

    Now the penny drops, :cool: and all those little mutual back-patting conversations make sense. Now you've opened yourself up a bit because Mr. Wurm has talked a lot more than the other preudonyms you use to spam the threads.

    :rolleyes: Mmmmm........

    Haven't you had fun now on your little alter-ego charade
     
  12. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    It pains me to think how much you are suffering in San Francisco. And how much you want the rest of the world to share in your misery.

    Keep watching HKEX&Clearing in Asia (stock code # 388 on the HK market). Bought 2001 for HK$7.80. Still holding it at HK$235. It is up from $150 a little over a week ago. Keep watching this space. I'll fill you in on other treasures you may have missed while you went searching for negative karma in the world.

    Should I get out of it now:confused: :confused: . I mean you did warn us some time ago and especially two weeks ago. Luckily I had the sense to stay focussed on fact and not deluded prognostication.
     
  13. jhuskey

    jhuskey Moderator

    Joined:
    Oct 6, 2003
    Messages:
    10,607
    Likes Received:
    341

    Wurm, I don't think so. Wrong person and wrong coast but I won't discount your other theories.
     
  14. thoughtforfood

    thoughtforfood New Member

    Joined:
    Jul 24, 2007
    Messages:
    2,476
    Likes Received:
    0
    I was so happy to have your inane, psychotic ravings gone. Has anyone ever suggested that you seek help immediately. I don't really care what kind of help either. Writing, psychiatric, substance abuse, economic, someone, anyone, please help him.
     
  15. thoughtforfood

    thoughtforfood New Member

    Joined:
    Jul 24, 2007
    Messages:
    2,476
    Likes Received:
    0
    Uh, everything is "historic" you inept turd juggler.
     
  16. Felt_Rider

    Felt_Rider Active Member

    Joined:
    Oct 24, 2004
    Messages:
    3,257
    Likes Received:
    27
    I thought cat juggling was bad, but a turd juggler? Man that stinks!!!
     
  17. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    Unless you know that is Wurm's address. Every other pseudonym this basement dweller has used has had different, imaginary locations.
     
  18. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    So you've just contradicted your thesis a-g-a-i-n. Do you think that San Franciscans aren't listening to the news. Or is this just a regional problem, this credit crunch thing. Yes Europe and Asia are headed for misery, but San Franciscans are well protected from the effects of this historic Global Recession.

    The more you keep coming back here the more embarassing its going to be. So when did you say for us to short the financial markets again?? Was it June 2005, when the S&P500 was 1200, or a couple of weeks ago when it was 1460?? And told us to short oil as well. Hmmm? S&P currently 1525 and on the rise. Oil $80.30 and rising.

    Warren Buffett announces today an interest in a stake in Bear Stearns. Ahhh. Comforting to be thinking alike the real sage with results.
     
  19. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    I hope you wouldn't be so naive as to think that the 85% or so of money managers who can't even beat the market indices (ie the average returns) represent "smart money". No the smart money is the minority of people who make the excess returns that the 85% under-achieve. So the fact that so many money-managers were caught with their pants down, suggests that they are not so smart.

    Remember, the market is the sum (in $$$ terms not in equal numbers of people) of the winnings and losses. And I am confident that people who have acquired significant wealth in their life are long financial assets at this moment as evidenced by Mr. Buffetts activity, and your ego-fluffed pronouncements.

    Your bleating about the negative outlook neatly tags you as someone who has not been able to accumulate any wealth. The quiet achievers would never try to crystal ball with black and white assurety, like you pretentious gurus in a cycling forum are doing. They would be happy to feel 60-40 on the direction of the market. and be humble enough to keep their opinions to themselves. Notwithstanding that most of these wealth achievers probably, like Buffett, don't take any notice of market fluctuations.

    In contrast to your spouting, I'm just trying to point out what's happening in the present - as it continues to resist your desires for compliance with your seemingly erroneous, as evidenced day by day, world view.

    Anyone with any capital would never bleat in a public forum like you have because they are aware of the risks that even if they were right in the short-term, there opinions will adjust day to day based on continuous streams of new information.

    So I am particularly wary of the risks that "know-nothing" posers like yourselves IMO present to people in forums such as these. Irrespective of the fact that no one is probably listening in any case.
     
  20. Crankyfeet

    Crankyfeet New Member

    Joined:
    Jun 5, 2007
    Messages:
    10,821
    Likes Received:
    0
    Talking with yourself again?? Isn't it funny how you two are always online at the same time.:rolleyes: And that Mr. Wurm is the only user-name that you have ever congratulated.
     
Loading...
Thread Status:
Not open for further replies.
Loading...