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radge

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About radge

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  1. radge

    GOLD

    Hats off to the size of your cahones! With gold this volatile, I won't be touching anything leveraged with a bargepole.
  2. radge

    GOLD

    I'm afraid it's a 'Meh!' from me. Didn't fancy riding the drop from $1225 all the way to £850-$1,000. I agree the $ is pants, but for the moment I didn't fancy being trampled to death by the rushing flock of lambs. Hopefully manage to get back into the safety of rather more Au than I had before I wimped out if I time it right.
  3. radge

    GOLD

    That swine RB on HPC had to go and call the bottom of the dip!
  4. radge

    GOLD

    Ah, perhaps this was the trigger in the Asian markets: http://market-ticker.denninger.net/archive...valuations.html
  5. radge

    GOLD

    Anyone found an explanation for the £10 toz rise overnight? I like sleeps like that!!
  6. radge

    The Best Of YouTube

    Not suitable for work. I liked it!
  7. radge

    GOLD

    It's not your username that appears in the audit, it's the name they gave you. Mine is imagesnnnnn. Look on your profile and it'll tell you what you're listed as. You can change it but I wouldn't recommend making it your username - why give away 1/3rd of your login dx publicly?
  8. I don't see it so much as scapegoating. These people would have been unemployed (however temporarily) had the Govts allowed their institutions to fail. They are now essentially civil serpents and must learn to live in that milieu. Surprise-surprise: Taxpayers don't pay top dollar. The cream will rise to the top and it is an international market. However, with the wealth destruction that has happened, even the cream of the bankers will have less to skim off. I suspect even far-Eastern banks don't pay massive bonuses if the don't have to and there will be a down-shift in the remuneration of the financial top dogs.
  9. 2/ Exit to where? The dole queue?
  10. So T Blair Esq got a highly paid sinecure with JP Morgan Chase. I imagine Broon is hoping there's still a Goldman Sachs there to give him his payback with a sinecure when he gets the heave-ho as PM.
  11. radge

    GOLD

    Across the Curve A daily bond market chronicle TIPS March 18th, 2009 3:43 pm The breakeven spreads on 10 year and 30 year TIPS are exploding. That means they are predicting more inflation down the road. The breakeven spreads generally move glacially. In both the 30 year sector and the 10 year sector they have moved about 11 basis points today. That movement would be in line with the absolute cratering of the greenback as well as the huge move(upward) in price of gold.
  12. radge

    GOLD

    Karl Denninger is not going to be a happy bunny! Caution On Quantitative Easing (QE) Be warned Ben.... The BOE executed their first "QE" operation today. The "bid to cover" was an astonishing 7.35. This means that for every bond purchased 7.35 were tendered, or made available by willing sellers. Back in January I posted a Ticker in which I made clear what was likely to happen if Bernanke actually attempted to do (as opposed to threatening) QE: Bernanke bluffed and the bond market called it. He cannot monetize several trillion in new issue plus the entirety of the 10 and 30 year bonds out there to stop a bond market sell-off. In addition, the market no longer believes him, as evidenced by today's price action. A serious bond-market sell-off will ramp the cost of all credit, including mortgages and commercial loans. If he tries to monetize the result will be current bondholders tendering into his buying, forcing him to essentially "consume" the entire float. That stunt will cause the dollar to implode and we wind up exactly like Iceland. Overnight. Ben knows this; ergo, he is screaming like a petulant child while the market laughs at him just like the market forced Paulson to do what he said he wouldn't with Fannie and Freddie. Bernanke had better shut the hell up before he precipitates a bond market dislocation; traders can and will try to force him to make good on the threat. Ding. The BOE now has seen exactly what happens when you promise as a government to overpay for something - everyone hits your bid immediately! This is a form of crack that the government cannot afford to loose into the market - as soon as the buying pressure is removed rates will start to rise again, forcing yet another purchase. Ultimately The Fed winds up owning all of its own government's bonds, having destroyed the private capital market for sovereign debt (just as it has done for other securitized debt by threatening to overpay for those issues!) The difference is that if this happens for sovereign debt then deficit spending becomes impossible on an instant basis; this would in turn force a nearly 75% contraction of government spending. The outcome of this event would be the immediate destruction of Social Security, Medicare, half the military budget and half of all other government programs. PS: Bernanke knows this, which is why it hasn't happened yet. Let's hope he continues to remember it, because the destruction of our government is very, very un-funny, and this would likely precipiate exactly that in a "vast and fast" form.
  13. radge

    GOLD

    Nice wee buying opportunity setting up, you go for tea and the boogers queaze all over you!
  14. It may be black for some folk but it's looking fairly golden to me so far!
  15. radge

    GOLD

    Looking at the market depth on BV there's still a helluva lot of cash chasing gold. I certainly don't have the cahones to take profit now lest I am unable to climb back on board!
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