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Mega
08-18-09, 02:23 PM
http://www.youtube.com/watch?v=MAD3UBY8X6U&annotation_id=annotation_927244&feature=iv
Mike

ThePythonicCow
08-18-09, 03:19 PM
Harry Schultz remains the one and only source for this bank holiday rumour. At least the date is specific enough - Aug 26. So we will know in eight days if he got it right.

I place the probability that he is right so low it is not worth lifting a finger to prepare.

Quincy K
08-18-09, 03:58 PM
"As of Friday August 14, 2009, FDIC is bankrupt!!!"
Oh yeah, and exactly what the fu_k is anyone going to do about it?

Stop buying our bonds??
Okay. We''ll just buy them ourselves. Oops, we're already doing that. But we promise we're going to stop. Really. We're serious about this defecit thingy or whatever the call it now.

Threaten to stop trading in their hard work and trinkets for unsecuritized debt and US fiat?
Well, there goes the neighborhood(yours).

Stop selling the US its valuable oil and playing dollar hegemony?
Yeah, that worked real well for the people in Iraq.

What private investor in their right mind is buying 10-year Treasuries at 3.8 percent when they can simly print our 3.8 trillion a year?

Dollars that is.

flintlock
08-18-09, 06:10 PM
What private investor in their right mind is buying 10-year Treasuries at 3.8 percent when they can simly print our 3.8 trillion a year?



Wait a minute. Aren't people supposed to flock back into treasuries for safety when the markets crash?

Mega
08-18-09, 06:18 PM
I think the FED will just usedsome of the $350 Billion its got left over.

No worries!
Mike