ThePythonicCow
28th May 2012, 10:19
This thread's title is taken from Don McLean's classic "American Pie" (http://www.lyrics007.com/Don%20McLean%20Lyrics/American%20Pie%20Lyrics.html).
**The day the music dollar died**
So
[Chorus]
Bye, bye Miss American Pie
Drove my Chevy to the levee but the levee was dry
Them good ole boys were drinking whiskey in Rye
Singin' this'll be the day that [it] dies
This'll be the day that [it] dies.
~~~~~~~~~~
I think I see in a little more detail just what they're hiding from us with all the B.S. they're throwing at the alternative media these days. The U.S. Dollar is dying. Jim Willie, CB, Editor of the “HAT TRICK LETTER” and proprietor of the Golden Jackass (http://www.goldenjackass.com/) website, is spelling out another piece of the puzzle in his latest reports.
Jim Willie describes the interest rate swaps (the most common form of derivatives) that will prove to be the king pin, which when pulled will devastate the U.S. Dollar, JPMorgan and some other major New York banks, the Federal Reserve, and the U.S. Treasury, and finally get the attention of the average American.
Odds are, from what I can figure, it blows sky high this year, or soon thereafter. Some fireworks in Europe will open up the show. The bastards in power fear some major discontent in the American people, when they realize that their Dollar and their nation is no longer King of the Hill, and they can no longer afford food or gas, much less cars, clothing and electronic toys, or anything else for sale at Wal*Mart.
Jim Willie's article "U.S. Treasury Bond Teetering Tower Of Babel, Fed Stuck At 0% Forever":
The recent losses from JPMorgan have proved to be much more based upon suspending gravity with 0% official rates in the Delta-Hedging complex game tied to the vast over-burdened Interest Rate Swap contracts, rather than the European sovereign bonds as first claimed. The Jackass is on record on May 11th, aided by the indefatigable forensic analyst Rob Kirby, in pointing to Interest Rate Swap stresses from the sudden March and April movement in the 10-year USTreasurys within the strained bloated USGovt sovereign bond market. The IRSwap setbacks were the underlying cause of the JPM losses. The giant bank does not want attention give to this derivative tool which controls the bond market in a devious artificial manner. As far as debt is concerned, the United States is Greece times 100. It is Italy times 20. It receives a pass from the bond market, precisely because the nation prints the money and controls the vast Interest Rate Swap support mechanism. But the tower is finally exposed.
The IRSwaps act like giant buttresses to support the evergrowing USTreasury Tower of Babel that stretches to the sky. Every year, the expansive tower grows another $1.5 trillion higher. Every year, the challenge grows exponentially for the JPMorgan master financial engineers to apply their control panel magic to achieve equilibrium. Every year, the degree of difficulty becomes more arduous. Every year, the tower must withstand the high winds from Europe, where the bond market is doing more than undergoing stress. It is crumbling before our eyes. In a way, Europe helps to conceal the great strains from the broken USTreasury Bond market, held together by interest derivatives.
More at http://www.marketoracle.co.uk/Article34819.html .
Bonus thought (mine, not Jim's) -- all that German, Japanese and Chinese gold that us Americans stole after the Second World War -- I'm wondering if perhaps the depressed price of gold during the 1990's and into the 2000's was that gold being sold -- with the biggest bidder being China. Maybe all the stories I was reading in my "gold bug" articles about illegal gold price suppression by naked short selling gold was a cover story, as also perhaps were the stories about the Bush's and Clinton's and others stealing all that gold. Maybe we'll wake up one morning to find that China is sitting on one major pile of gold. Just a suspicion.
Anyway, if you don't mind a bit of cussing, take a look at Jim Willie's article. I have just resubscribed to his newsletter, which I had dropped a couple of years ago. When the brown stuff is hitting the fans hard, he's one of the best ones around ... he thinks outside the box and has some good insights. I subscribed to him through the 2008 crisis, and it's time to get onboard with him again. In more boring times, his shtick gets rather tedious.
**The day the music dollar died**
So
[Chorus]
Bye, bye Miss American Pie
Drove my Chevy to the levee but the levee was dry
Them good ole boys were drinking whiskey in Rye
Singin' this'll be the day that [it] dies
This'll be the day that [it] dies.
~~~~~~~~~~
I think I see in a little more detail just what they're hiding from us with all the B.S. they're throwing at the alternative media these days. The U.S. Dollar is dying. Jim Willie, CB, Editor of the “HAT TRICK LETTER” and proprietor of the Golden Jackass (http://www.goldenjackass.com/) website, is spelling out another piece of the puzzle in his latest reports.
Jim Willie describes the interest rate swaps (the most common form of derivatives) that will prove to be the king pin, which when pulled will devastate the U.S. Dollar, JPMorgan and some other major New York banks, the Federal Reserve, and the U.S. Treasury, and finally get the attention of the average American.
Odds are, from what I can figure, it blows sky high this year, or soon thereafter. Some fireworks in Europe will open up the show. The bastards in power fear some major discontent in the American people, when they realize that their Dollar and their nation is no longer King of the Hill, and they can no longer afford food or gas, much less cars, clothing and electronic toys, or anything else for sale at Wal*Mart.
Jim Willie's article "U.S. Treasury Bond Teetering Tower Of Babel, Fed Stuck At 0% Forever":
The recent losses from JPMorgan have proved to be much more based upon suspending gravity with 0% official rates in the Delta-Hedging complex game tied to the vast over-burdened Interest Rate Swap contracts, rather than the European sovereign bonds as first claimed. The Jackass is on record on May 11th, aided by the indefatigable forensic analyst Rob Kirby, in pointing to Interest Rate Swap stresses from the sudden March and April movement in the 10-year USTreasurys within the strained bloated USGovt sovereign bond market. The IRSwap setbacks were the underlying cause of the JPM losses. The giant bank does not want attention give to this derivative tool which controls the bond market in a devious artificial manner. As far as debt is concerned, the United States is Greece times 100. It is Italy times 20. It receives a pass from the bond market, precisely because the nation prints the money and controls the vast Interest Rate Swap support mechanism. But the tower is finally exposed.
The IRSwaps act like giant buttresses to support the evergrowing USTreasury Tower of Babel that stretches to the sky. Every year, the expansive tower grows another $1.5 trillion higher. Every year, the challenge grows exponentially for the JPMorgan master financial engineers to apply their control panel magic to achieve equilibrium. Every year, the degree of difficulty becomes more arduous. Every year, the tower must withstand the high winds from Europe, where the bond market is doing more than undergoing stress. It is crumbling before our eyes. In a way, Europe helps to conceal the great strains from the broken USTreasury Bond market, held together by interest derivatives.
More at http://www.marketoracle.co.uk/Article34819.html .
Bonus thought (mine, not Jim's) -- all that German, Japanese and Chinese gold that us Americans stole after the Second World War -- I'm wondering if perhaps the depressed price of gold during the 1990's and into the 2000's was that gold being sold -- with the biggest bidder being China. Maybe all the stories I was reading in my "gold bug" articles about illegal gold price suppression by naked short selling gold was a cover story, as also perhaps were the stories about the Bush's and Clinton's and others stealing all that gold. Maybe we'll wake up one morning to find that China is sitting on one major pile of gold. Just a suspicion.
Anyway, if you don't mind a bit of cussing, take a look at Jim Willie's article. I have just resubscribed to his newsletter, which I had dropped a couple of years ago. When the brown stuff is hitting the fans hard, he's one of the best ones around ... he thinks outside the box and has some good insights. I subscribed to him through the 2008 crisis, and it's time to get onboard with him again. In more boring times, his shtick gets rather tedious.