George W. Bush plays a little dirty rugby for Yale in 1966.
Children for sale in Chicago , 1948. Some parents sold their children due to poverty.
Vladimir Putin and his childhood friends in 1969. None of them have been seen since!
Frank Sinatra asks Lou Gehrig for an autograph in 1939.
Future presidents Bill Clinton and George Bush with Governor George Wallace at a BBQ in 1983.
Is The Coming Week Going To Be The One We Have Been Warning About?
ReplyDeleteWell I won't stick my neck out that far just yet but every indication is that it's going to be highly volatile week at the very least. If the last few years have taught us anything it is to not underestimate the central bank's ability to print even more vast quantities of monopoly money to cover up the failures of fiat policy.
After closing out last week on the DJIA with two down days in a row and Friday alone down 318 points; the DJIA futures are showing an opening position down a further 335 points as of 3:00 PM EDLST. If fact all of the markets (those covered on Bloomberg at least) with the exception of China's smaller CSI index, are showing in the red across the board.
Both the Turkish Lira and the Argentine Peso (again) are in free fall. The Venezuelan Bolivar has already been devalued another 40% but that is largely just plain old socialist ineptitude and corruption. How many other national currencies teeter on the brink is hard to tell but I would bet it's more than a few.
The question then becomes; Just how much more monopoly money is new FED chairman Janet Yellen prepared to print and dump into global markets to stem the fall and how quickly can she do it? Any hesitation may prove to be instantaneously fatal. Not that even quick action will do anything but slow the trend. To reverse it at this point is all but impossible.
The key will be the response to more US printing by the central bankers and finance ministers across the globe and how effective US pressure will be on them not to start dumping US and other national debt paper. If private holders of Treasury paper start selling and the rates climb in response to falling prices the only choice left may be the suspend the markets under the guise of "waiting for cooler heads to prevail."
Then there will be the reaction of the individual bank depositor to take into account. The backlash to HSBC's attempt last week to impose withdrawal limits was swift and decisive, leading HSBC to announce that they felt that policy was justified as in the customer's best interest but will be rescinded never the less.
So if you have spent at least a modicum of effort to prepare and defend yourself against this eventuality, sit back and watch and perhaps indulge in a bit of schadenfreude. The rest of you; Well you were warned now weren't you? And no neither Barack Obama, Hillary Clinton nor Jeb Bush will be able to save you from you stubborn refusal to believe any of this was even possible.
Thanks. I owe the banks.
DeleteThe most disturbing was the photo of Bush, Wallace, and Clinton. What was Clinton doing there? Tell me this thing isn't rigged.
ReplyDeleteThe most disturbing was the photo of Bush, Wallace, and Clinton.
DeleteSame here.
Yea---Creepy Clinton, Poppy Bush----and ol' Wallace was just an accident. How many times have we seen Clinton and Poppy Bush together in this life? Here at a "party" in their younger days---then running against each other for President and then later in life at multiple "good fellas" events saving the worlds "poor" whilst raking in the Ca$h for all their own foundations.....like they say....Truth is stranger than fiction....oh and that Poppy Bush and John Hinkley (Ronald Reagans almost assasin) Dad are buddies.......
ReplyDeleteWouldn't doubt it for a minute.
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