Thursday, September 26, 2013
No taper.
Saturday, September 21, 2013
Dishonesty
http://www.bloomberg.com/news/2013-09-20/buffett-says-federal-reserve-is-greatest-hedge-fund-in-history.html
Good comments from the readers.... this comment sums it up nicely:
"Buffet is a cunningly dishonest man. He is conveniently not telling us, 1. The purchases of those bonds were paid for by the people's money being debased and worth less against our will. 2. As interest rates rise, which they already have begun to do, those profits will turn into losses. I would bet that happens by the end of the year. Of course the Fed does not care, because as Buffet says, the Fed has no need to deleverage, it can force us to pay as much as it needs to bail out the banks because we have choice but to use it's (sic) debt as our money. This is freedom?"
Good comments from the readers.... this comment sums it up nicely:
"Buffet is a cunningly dishonest man. He is conveniently not telling us, 1. The purchases of those bonds were paid for by the people's money being debased and worth less against our will. 2. As interest rates rise, which they already have begun to do, those profits will turn into losses. I would bet that happens by the end of the year. Of course the Fed does not care, because as Buffet says, the Fed has no need to deleverage, it can force us to pay as much as it needs to bail out the banks because we have choice but to use it's (sic) debt as our money. This is freedom?"
Immorality of inflation
Dr Paul: Think about it in a moral sense. What if he gets his 2% (inflation)? What right does the Fed have to take away 2% of their purchasing power automatically? What right does they have to punish the elderly who save money? I asked Bernanke and Greenspan the question and they throw their hands up and say that they feel some people will benefit from this.
Keynesians wrong once again
Mainstream economists.... wrong about bailouts and stimulus.
This is the real sentiment on the ground:
"A Feb. 2012 survey found that 52% of Americans thought bailing out the banks through the Troubled Asset Relief Program (TARP) was the wrong thing to do, while 39% supported the action. That was a big turnaround from 2008 when the crisis hit in 2008 and 57% had said TARP was the right thing to do."
I'm sure it'll be more than 52% as it becomes clearer that things are going awry.
This is the real sentiment on the ground:
"A Feb. 2012 survey found that 52% of Americans thought bailing out the banks through the Troubled Asset Relief Program (TARP) was the wrong thing to do, while 39% supported the action. That was a big turnaround from 2008 when the crisis hit in 2008 and 57% had said TARP was the right thing to do."
I'm sure it'll be more than 52% as it becomes clearer that things are going awry.
Thursday, September 19, 2013
Watching Ben's Q&A now. Oh wait, why am I doing that?
Why bother questioning Ben... he's bluffing all the time. Or he's just simply incompetent. Anyone can dig up his record and see for himself/herself. Has been great fun betting against his Keynesian policies in the past few years. But this is really destroying America. That was why we Austrian economists were so mad about their destructive policies right from the first QE and bailout.
Implicit value of gold in SGD, under Bretton Woods System
Fun Fact: Taking Singapore's M2 money supply and dividing it by its gold reserves, and if the world were to return to the Bretton Woods System with 40% gold backing, the implicit value of gold will be some SGD 61,000. Even if we use the much lower M1 figure, we will get a figure of about SGD 20,000.
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