ES Journal Archive (2009 - 2010)

Status
Not open for further replies.
Soros seems to think he knows how it will play out. Devalue fiat currencies (domino effect likely); replace with a global currency; reestablish or establish a new social order. First currency to the bottom with the most Gold wins the pole position in defining the rules of the new game.
 
didn't the euro just try that and have it blow up in there face, the problem is the banking system becoming traders,worst idea ever,yet nothing has changed...might as well just hand americas paychecks to the g sach's of the world
 
The US has the gold; the US will write the rules for the most part; smaller economies, insignificant cultures, non-economic regions of the world will simply have to accept them because they will be presented as being in the best interest of the most. It should be at least as disruptive as WWII in order to make a convincing argument (crisis economics). Of course it won't work well for the most part, but it will work very well for some.
 
Quote from ammo:

oversimplified,but suppose we are playing poker in your kitchen,all friends ,avg pocket brings $250,i lose first, i start borrowing from you, then eventually i owe everyone at the table and you are all playing with i.o.u.'s,you find out that my rich uncle just went broke, knowing my wife and kids,weekly income, and bills,most would assume it will take awhile to get the iou's back if ever,risk /reward is dismal,common sense for everyone but me, would force everyone to quit playing, that seems to be missing in the present economic scenario
More...

But it's not quite that simple.
 
can't remember exactly, but the document (on 60 minutes) explaining the nuances of credit default swaps was so thick ,greenspan would not have deciphered it,that's the point,it 's simple and they are covering it up with a lot of lawyer ,fed,economist speak,lies can only pile up so high,there is always an adjustment
 
Quote from JSSPMK:

But it's not quite that simple.
More...

I think what he means is it's not a few people engaged in a zero-sum game writing I.O.U.s backed by real money; The players are using, instead of real money, I.O.U.s backed by I.O.U.s backed by nothing, because "the house" bribed their great-great-grandparents' lawmakers. Politics, wars, in short, "the game," is just a distraction from what is really going on, namely "the house" trying desperately to control the human infestation on this planet.
 
i agree with jss,and u lob,just watching it unfold, turning into the house of babble where they are lying so much, they are all speaking in different languages to each other,what happens is the tower will not be completed ,the mess not fixed, and the opposite outcome is the result ,just allow default on the debt,it's all paper anyway,will china go under, europe,U S ,India ,all the people will be fine, goldman and friends get screwed ,but ,like war, risk a few to save many
 
nice 100 point bounce/recovery from the low so far on the dow.
See if they can keep going up and then a further ramp for T-day tomorrow maybe...
 
I previously bought a SPY NOV call near the lows of the day yesterday. Today I sold it at for a $ 5 loss plus $ 2 loss in commission.

I then bought a JPM JAN in the money $ 35 call.

I think the time decay is hurting me on the NOV call, and I decided on the JPM in the money call since I read an article where the government is going to allow the banks to start paying more dividends.

Also, another article stated that traders at JPM were making around $ 100 million for the bank per day with few losing days. These traders could mean the front running HFT machines, but the article did not specify.
 
Status
Not open for further replies.
Back
Top