tag:blogger.com,1999:blog-2611021408437270881.post5627099863496841997..comments2024-03-18T23:59:39.885-07:00Comments on Skeptical CPA: Monetary MadnessIndependent Accountanthttp://www.blogger.com/profile/07800220849565219709noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2611021408437270881.post-38301074798739755312009-01-26T19:09:00.000-08:002009-01-26T19:09:00.000-08:00Funny this post is from December 13th... you DO kn...Funny this post is from December 13th... you DO know Zimbabwe Ben and I share a birthday, right?<BR/><BR/>Sorry, Pop, but I have to disagree with you, if slightly. Bernanke is an academic, duh, we all know that. He may be seriously lacking in practical execution of academic knowledge or perhaps he knows exactly what he is doing.<BR/><BR/>First of all, he had to know what kind of mess he was set to inherit from Greenspan. Secondly, he had to know exactly which direction this ship was headed when he chose to take it on.<BR/><BR/>Second of all, he has spent his entire life and academic career feeding his Great Depression Obsession; what if clever ZB saw the chance of a lifetime to watch a broken machine collapse a la 193x from the inside?<BR/><BR/>I agree he leaves much to be desired in the execution. <BR/><BR/>But I also believe he knows damn well he is destroying the USD and is even doing so intentionally as some giant social and economic experiment.<BR/><BR/>JrJr Deputy Accountanthttps://www.blogger.com/profile/12886649539758133191noreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-40824826344329554572008-12-13T14:23:00.000-08:002008-12-13T14:23:00.000-08:00I am with you IA. Up to now it has been the searc...I am with you IA. <BR/><BR/>Up to now it has been the search for yield. It is now becoming the search for safe assets. Some idiots think it is dollars and treasuries.<BR/><BR/>With credit being destroyed, yes the value of assets is going down, but only those that were leveraged, or that represent debt. Unencumbered assets will be sought as the haven from debt/yield.<BR/><BR/>The money flows in this electronic world are truly breathtaking.<BR/><BR/>Oh on the seizure of Japanese US assets, frankly I doubt that Japan cared. What they did care about was access to Shell Oil in Indonesia. That meant the end of Japanese naval power and the ability to subjugate Asia. It was the cutoff of Indonesia with a Roosevelt issued ultimatum that sent things in motion.<BR/><BR/>When Japan attacked Pearl, it was to prevent the US Navy from stopping Japan's invasion of Indonesia.<BR/><BR/>Today's wars are triggered by the desperate search for oil, and its distribution, eg, Iraq war, Georgia, Somalia, Sudan, Nigeria, Falklands (yes Falklands was fought over oil, look it up), Suez crisis, Angola/Cabinda,...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-91782172262725881452008-12-13T14:21:00.000-08:002008-12-13T14:21:00.000-08:00Somehow I've had this dream that Chairman Bernanke...Somehow I've had this dream that Chairman Bernanke would come to his senses and rein in the money printing...<BR/><BR/>That's nonsense... because it's all about saving the banks... the FedFriends...<BR/><BR/>Vincent Reinhart says ... <B>"We're in a very dangerous period, and the Fed needs to be aggressively buying all sorts of paper, including toxic assets like collateralized debt obligations, non-agency mortgage-backeds and non-investment-grade corporate bonds in order to bring liquidity to the markets and raise security prices.'</B><BR/><BR/>It's all about unclogging the FedFriends... zero strategy...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2611021408437270881.post-82908286238571469842008-12-13T10:39:00.000-08:002008-12-13T10:39:00.000-08:00"a wild bull market is coming! Why? As desperate A..."a wild bull market is coming! Why? As desperate American "sell" dollars for something, stocks will rise."<BR/><BR/><BR/>You keep buying and I'll keep shorting the hell out of them. Ain't no bottom to this fiasco until Q3 2010.Anonymousnoreply@blogger.com