May 22, 2012

U.S. Treasury Allows China To Hide Bond Purchase Details

China has been given a direct line to the Treasury, the only country ever allowed the privilege, so that it may purchase (or not purchase) bonds without American banks being privy to the details of their transactions. This is yet another revealing sign that China, because of its detrimental control over the fate of our currency, has been given free reign to roam about our markets and our infrastructure at will. China is being given special treatment for one reason; they are being handed the
keys to our economic castle as payment for the coming devaluation of the dollar based securities they will still be holding when the Fed announces QE3. It is no coincidence that so many gifts have been handed to the Chinese in the past year alone.

[ Story ]

In 2009, when Treasury officials found China was using special deals with primary dealers to conceal its U.S. debt purchases, the Treasury changed a rule to outlaw those deals, Reuters reported last June.

Oh I seeee, it’s a work-around. Evasion by any other name is still…

Cui bono? Is it even legal (I know, when has the government ever obeyed the law)? Does this open up the T market to manipulation? I suppose if they promised never to do that, we’re good. Money good.

It is similar to one drug addict allowing another access to their private stash. Will it be there tomorrow?

It is customary for favored customers get special privileges. Just last week came this related (although neither story acknowledges the other) news:

Giant banks owned by the Chinese government are coming to the U.S.

The Federal Reserve on Wednesday approved plans by three state-backed Chinese banks to expand in the U.S., including the first acquisition of a U.S. retail-banking network by a state-owned Chinese lender.

[ WSJ ]

Not one, not two, but three Chinese banks. A quantity discount? Way to save there, guys.

No film at 11.

What is that fishy smell?


Quietly now, we don’t want to wake the sheeple Shhhh!

September 5, 2011

On this fine Labor Day (“Happy Labor Day everybody!”) the media blackout on reality is even more creeptillian than usual. Seems like Europe is melting down with nary a mention:

That's going to leave a mark!

Or maybe the newsies just needed a much-deserved break from faking being upbeat the last four years.

Evidently the people who update the Yahoo Finance page may be passed out on a cot too, because the same headline has adorned it since Saturday and here it is still, now, on Monday, Labor Day, with no mention of the europa flambeau:

Yahoo suggests interna-class warfare is the way out of this mess

I suppose they’re doing us a favor, really. What possible good can come of  knowing tomorrow we implode financially- again- when you have guests over. That meat ain’t gonna grill itself.

Top tip: If you are unemployed and one of your guests is merely underemployed, poisoning their selection of meat won’t get you their job. You’ll have to interview first. Surely you do realize that ultimately it is going to go to the interviewer’s nephew anyway? So, don’t go there, it’s a waste of time, and meat, and it’s not class warfare if your attempting colleague-icide. One finding their self in that predicament could instead consider going on an all-expense five year staycation by going back to school, the Fred will even finance it, and you could live life like you were Thornton Melon reincarnated.

My sources inside the walls of the compound also tell me Bernank’s sex-elves are working faster and more furiously behind the scenes than usual, in order to assemble the most beautiful array of acronyms imaginable for the next Big Bailout (tentatively titled: The Big Bailout (who said the Fred has much of an imagination?)(What was TARP, chopped liver?)). Even the presentation- not fit for the likes of you or me, as we are mere debtards having been born into this in situ- well I am told it will be breathtaking. The Fred doesn’t use parchment and ink-jet printers- only goat hides (after a goat has been suitably chosen by the Chief after the usual thorough rutting) and ink from the blood of debtors will suffice.

There will be no gold leaf applied, for as you know that (publicly at least) Fred eschews gold, as of course it has no monetary value. But you best believe spelling and punctuation will, as always- and if you can count on anything in this entire fiasco you can count on this- be the very model of perfection.

Rest assured, your humble servant,


Let them eat cake

December 19, 2010

California State Pension System Makes Madoff Proud

November 30, 2010

Bloody hell.

I cannot even begin to imagine how many financial entities are actually insolvent, but can keep the doors open because rule of fair play have been extended indefinitely.

“CalPERS financial sleight of hand is reminiscent of Bernie Madoff’s lying to his investors through phony statements designed to mask losses and outright fraud.”

Here is a piece of journalism (something most newspapers quit doing some time ago) exposing how CALPERS is rigging themselves up like some deranged suicide bomber.

CALPERS is underfunded by $500 BILLION dollars. Rub your eyes and read that last sentence again. Savor it- it leaves a bitter/sour after taste, does it not? Contemplate how once upon a time the CALPERS financial geniuses were profiled as if they could do no wrong. Turns out, they were the favorite straw man sucker of the TBTF banks. Anyone else recall CALPERS beating their chests with wreaths of unearned hubris? That tired old phrase “but nobody could see it coming” sounds like the last cries of a dying beast.

Some day this entire fiasco will go BOOM! MOTHERFUCKERS! and life here will never again be the same.

Check out the video too- if you have the stomach for it. I can’t watch any more liars today.

“If you want to know what God thinks of money, just look at the people he gave it to. –Dorothy Parker

… but he has a nice beard

November 13, 2010

Banking crisis in under two minutes

November 7, 2010

Why ZIRP? When you only have a hammer, everything looks like a nail

August 22, 2010

The US Central Bank (aka Federal Reserve, Inc.) needs to kill about a billion people so they can save face their busted plans will work. If you own vast tracks of land, or have access to giant earth movers, contact Benron Bukkake or “Turbo” Timmeh Shitener.