muses of the moment

May 25, 2012

In the words of the Great Mogambo Guru, “We’re freaking doomed.”

In case you are unaware, Fed’s discount window (your present and future tax payer dollars) will be extended to the US clearing houses to back stop derivatives (i.e. cover losses).

Click here.

There is even talk of extending this to the main London trading houses.

And I thought this couldn’t get any worse. Wow.

Side musing: Taibbi once again exposes the GS. This time it is proof that big banks naked short sell. Click here.

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3 Comments »

  1. true groovy

    but with 1.2 quad trillion of derivatives out there and huuuuge shadow banking system we were doomed back in 2008 when it was not fixed 😦

    The whole thing must be reset and it looks like Martin will be right again on his 2015-2016 call

    We will wake up in 2017 to a really different world than we live in today

    (the strange thing is — in america no one seems to know or care )

    Comment by madmax — May 25, 2012 @ 12:18 pm

  2. Good comment.

    gg

    Comment by totallygroovygirlfriday — May 25, 2012 @ 12:19 pm

  3. But it’s always been like that … Until it happens.

    The question is how to prepare oneself and their family for when it occurs. Gerald Celente talks about the three Gs. Guns, gold and a getaway plan. I agree with his first two, but leaving the country to some place else may not really be a choice. Are you also going to leave your elderly parents behind? Your brothers and sisters … And adult children? I’m not.

    Prepare the best you can. Stock up. Be willing to lend a helping hand. Stay in shape and maintain good health. While at it, enjoy life as best you can.

    Comment by MikePhila — May 25, 2012 @ 2:07 pm


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