Sipsey Street Irregulars: Bubble, bubble, toil and impending trouble.

Monday, September 14, 2015

Bubble, bubble, toil and impending trouble.

BIS fears emerging market maelstrom as Fed tightens: Global debt levels are dangerously high and central banks cannot keep the game going indefinitely, warns the high priest of orthodoxy.

Fears grow over US stock market bubble.

For Traders, No More Privacy on the Phone: At large banks, regulatory requirements and new technology are making the phone a zone of total surveillance.

1 comment:

Chiu ChunLing said...: I heard an interesting anecdote just today, a company couldn't make payday because the automatic transfers weren't going through from the "too big to fail" category of banks to local community banks used by a lot of their workers. In other words, they theoretically had funds in the "to big to fail" banking system to cover their worker's pay, but when they tried to transfer those funds into the accounts of their workers, their TBTF bank told them that they couldn't complete the transfer outside the TBTF bank on time.

Simply put, that means that the TBTF system doesn't really have the money, they can pretend to shuffle it around internally, but when it comes to making it into real money outside their system, it's not real money. This has been a problem for years, the TBTF system was propped up with huge injections of 'theoretical money' to strengthen their balance sheets to avoid a panic, but the TBTF system agreed that they would carefully restrict that 'theoretical money' from ever actually entering the larger economy, because it would cause hyper-inflation and destroy confidence in the dollar. So they presented economic numbers based on their possession and intra-TBTF 'cash' flows of this 'theoretical money', while operating with their much smaller reserves of legitimate money.

I don't know long or widespread this problem of not having to delay transfers to non-TBTF banks has been. But it means that the TBTF banks are at the point where they either have to admit that they only have 'theoretical money' left (sparking a financial collapse) or go ahead and starting to transfer that 'theoretical money' into the real economy, where it will cause hyperinflation and destroy the dollar.; September 14, 2015 at 4:29 AM

"Progress made under the shadow of the policeman's club is false progress."

I believe that liberty is the only genuinely valuable thing that men have invented, at least in the field of government, in a thousand years. I believe that it is better to be free than to be not free, even when the former is dangerous and the latter safe. I believe that the finest qualities of man can flourish only in free air – that progress made under the shadow of the policeman's club is false progress, and of no permanent value. I believe that any man who takes the liberty of another into his keeping is bound to become a tyrant, and that any man who yields up his liberty, in however slight the measure, is bound to become a slave. -- H.L. Mencken

"The Fate of Unborn Millions. . ."

"The time is now near at hand which must probably determine, whether Americans are to be, Freemen, or Slaves; whether they are to have any property they can call their own; whether their Houses, and Farms, are to be pillaged and destroyed, and they consigned to a State of Wretchedness from which no human efforts will probably deliver them. The fate of unborn Millions will now depend, under God, on the Courage and Conduct of this army-Our cruel and unrelenting Enemy leaves us no choice but a brave resistance, or the most abject submission; that is all we can expect-We have therefore to resolve to conquer or die." -- George Washington to his troops before the Battle of Long Island.

"We will not go gently . . ."

This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can't be done? And if we do not try, it most certainly won't be done. The Founders' Republic, and the larger war for western civilization, will be lost.

But I tell you this: We will not go gently into that bloody collectivist good night. Indeed, we will make with our defiance such a sound as ALL history from that day forward will be forced to note, even if they despise us in the writing of it.

And when we are gone, the scattered, free survivors hiding in the ruins of our once-great republic will sing of our deeds in forbidden songs, tending the flickering flame of individual liberty until it bursts forth again, as it must, generations later. We will live forever, like the Spartans at Thermopylae, in sacred memory.

-- Mike Vanderboegh, The Lessons of Mumbai:Death Cults, the "Socialism of Imbeciles" and Refusing to Submit, 1 December 2008

"A common language of resistance . . ."

"Colonial rebellions throughout the modern world have been acts of shared political imagination. Unless unhappy people develop the capacity to trust other unhappy people, protest remains a local affair easily silenced by traditional authority. Usually, however, a moment arrives when large numbers of men and women realize for the first time that they enjoy the support of strangers, ordinary people much like themselves who happen to live in distant places and whom under normal circumstances they would never meet. It is an intoxicating discovery. A common language of resistance suddenly opens to those who are most vulnerable to painful retribution the possibility of creating a new community. As the conviction of solidarity grows, parochial issues and aspirations merge imperceptibly with a compelling national agenda which only a short time before may have been the dream of only a few. For many Americans colonists this moment occurred late in the spring of 1774." -- T.H. Breen, The Marketplace of Revolution: How Consumer Politics Shaped American Independence, Oxford University Press, 2004, p.1.

Sipsey Street Irregulars

Monday, September 14, 2015

Bubble, bubble, toil and impending trouble.

1 comment:

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