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During our brief get-together yesterday, BDI and I puzzled over how the European Union could be so dumb as to hand tens of billions of Euros more to Greece who has obviously got, shall we say, a credibility problem. It seems they aren’t nearly so gullible as I might have assumed, as the headlines on ZH reveal:
I put this post together as a curiosity. Per international data, the world has now created 4 times as much debt than the combined reserves and M0, M1, and M2 in the world. Out of these reserve and M numbers only $5 Trillion is circulating outside of the banking system. There is 171,000 tons of gold or 5.5 billion ounces, or approx $6 trillion of value, in the world. Total assets are valued at $241 Trillion. The elites have taken us to the wall.
Exeter would be proud and alarmed at the same time.
Well, with 73 short positions on, constituting a seven figure portfolio, and ending the day virtually unchanged, I am hardly inspired to wax poetic about the “market” right now. I’ll leave you with this curiosity, however: while taking one of my dogs on a long walk to Whole Foods this afternoon, I passed this brand new sign, recently erected by the good people of the municipality of Palo Alto:
By Biiwii
It is disgraceful. Every time Bob Dole would introduce legislation that would have America simply acknowledge the atrocity that was the 20th Century’s first genocide (of the Christian Armenians by the Muslim Turks) it would get shot down. Bob kept trying and other voices cried out but America – across generations and political parties – just continues to put its fingers in its ears and go ‘la la la la la… I can’t HEAR you… la la la la la…’
The sheer scale of the murders in Turkey was so overwhelming that Polish lawyer Raphael Lemkin later devised the word “genocide” to grapple with the carnage.
Wednesdays before expiration (especially on FOMC days) are special days.
Volume is split between 2 contracts. We have stops getting killed on both sides of indecision, and then a lot of chop, chop, slam…. chop, chop, slam…. It reminds me of the old Duck, Duck, Goose game. Only this time, retail stops are left holding the bag and can’t find a chair or get a break.
The witching hour appears to be the hour going into oil pit close.
