lol Rara, still digging away getting the nerve out little at a time and lots of unanaesthetized drilling.........and funnily enough it has not hurt one bit. These guys are good here. Today's visit (no 6) took about 40 minutes and cost 10 quid in British money. From what I hear compared to home, that is a very good deal, so no complaints.
"Off Main Street: The SpeakEasy/BackRoom"
As for FOMC today, I think this sums it up beutifully........
Is that last post aimed at York Rite, I hope ?
tells me that we will be seeing a freshman TFMR poster soon called
ASTRAL LODGE....or somesuch
of my favourite things about hanging in here is seeing the avatars bigger, feels much more personal.
Another free book. You can just download and skim it.
Happens to have the same name as the other book I mentioned The Road Ahead. this guy was saying how we would both be flushed down the toilet back in 1949. That beats my earlier mention of 1972 and 1965.
I am soooooooo biting my tongue in MainStreet right now. I have had to put up with uninformed scaremongerers about Japan for a year and a half now. Even having a direct (and I mean direct) contact with the whole situation people on MainStreet recently still try to bludgeon me with their supposed wiki type research. Gaaaaa, it is soooo frustrating. Some people are just looking even hoping that things end badly - I can't help those people. It just ends up distorting researching properly. I was here during the whole thing (and did not run based on solid direct information about the whole thing from specialists and now have to put up with assbandits who tell me that they know better. Sod it, I'm off to work.
and he's sticking to his play book.
Greece stays in the Euro-check
nothing happens till after Greek election- check
Fed will not ease at June meeting- check
ECB rate cut soon
Fed will not ease until this fall.
He is not budging a bit off his previous statements.
Best line of the interview?
When Lyster says
" There is only so much sucking that can go on"
I agree Murphy. I'm listening until he gives me reason not to listen. My list is pretty short of individuals I'm willing to consider analysis from on macro conditions.
Remember what Maybury said that I posted a few days ago. If the Fed doesn't print, we go into a depression. And it will be global!! And it will be bad!! Funky Cold Medina!
The way it seems is that everything will be put on ice until the election is over and everything between now and the result of the election is just noise (some of it might get quite loud but it is still noise as far as us keeping our eyes on the real target). That means no overt QE until the end of the year unless there is absolutely no way out if their hands are 1000% forced. After the election is over with, bazooka time. Keep loading up and screw the price. It is irrelevant. You have (to my mind 6-8 months still or possibly less depending on how things go before they let rip). Personally,I would prefer au accumulation over ag going forward from here (and since a year and a half ago, I switched most of the ag I had to au and haven't suffered at all from the ups and downs within that time frame). If there is no overt QE coming before the election, that would signal another drop somewhere along the line between now and then to accumulate ag.
That is just my tuppenceworth for what its's worth. At least it would have been worth it if I hadn't had that dreadful encounter with a goat that left me lying in bed one morning sleeping while the damned goat made off with all my possessions (should have seen the look on the copper's face when I made out the report !).
Freakin' hot today. Elecricity don't like it, neither does 'toga.
"Long term patience and tenacity.... doesn't get much better than this"
The price of Ag/Au is not the problem. No jobs, no commerce, no international trade along with higher prices is the bigger issue. Nobody is getting loans from the banks. Velocity has come to a crawl.
Obama in or out? I don't know. Maybe this "Executive Privilege" scandal for running guns into Mexico blows up into a political fireball. Maybe it's connected. Maybe it's part of the plan. I don't know. Why is he sending guns into Mexico? To help the drug lords? Could be. Why do we need to send marked guns in when we have satellites that can see the warts on your dick from outer space? Inside operatives don't work anymore? Keep the borders unprotected and send guns in? And now it becomes public. They found Sadam Hussein under a pile of dirt, and who knows what happened to Bin Laden. But if they want you, they can find you.
Like Rickards said, they don't care about July 4th. They only care about November 4th. Although he is consistent, he doesn't know timing. Could be September/August. He also mentioned 2103 December. The guy who keeps saying QE to infinity, well that helps nobody. It's a good bumber sticker.
The old thesis that has been true forever that you can't forestall a bull market by shorting it, hasn't come into reality. It seems that reality can be stretched in anyway they see fit. Of course, they can only do it as long as human beings accept it as reality.
Right now, it's like the population is looking into a fun house mirror, seeing a screwed up reality, and saying everything is normal.
Summer Solstice 2012
You do agree though that they have to keep pumping out the dough to keep it all going though don't you ?
The problem is is that they are pumping out at torrential rates but it is just going straight to the banks to help them deleverage and to get their reserve ratio higher whilst creating a deflationary spiral. Deflation is not too good for ag (industrial demand concerns) whereas au holds up better (no industrial concerns) This is cheapening the value of savers' and especially pensioners' money. The lack of liquidity as banks deleverage at a faster rate than at any time since WWII (including the 70s) means that companies and individuals who have been brought up on short term borrowing to pay wages/bills on a month to month basis or to start up new business are getting screwed and this leads to problems and layoffs.
There are many many other issues at work here but that'll do for now.