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Originally posted by BYTEMITE:
I was wondering if the Olympics were part of it because of the timing of all this, an attack would be an opportunity for some false flag shenans.

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Originally posted by FREMDFIRMA:

Starting to look like a deliberate effort to tank the US Dollar prior to the whole Hunger Games aka Olympics, which I personally couldn't give a shit about given their complete lack of anything even remotely resembling integrity, but I worry that the powers involved in the effort might have drastically overestimated US financial stability because of the convoluted chicanery concealing how rickety it really is right now.

While unlikely given how easy Banksters are let off, there seems some possibility of investigation/fraud charges here, as the public swiftly runs out of patience with this crap, but more frightening is international attention - wasn't that long ago China actually hung a Citibank exec for funny business, and some portion of em got kicked out of Japan for financial fuckery, which is actually pretty impressive given how lenient most of their laws are in regard to it.

Thing about selling "Paper Gold" you don't actually have product to back up, it's like a pyramid scheme really, cause sooner or later folks will start calling in their markers, which'll start a rush, which'll bring the realizations and retributions... and potentially expose the fact that the FDIC doesn't have even a tenth of a percent of the resources needed to actually back up any of their claims and it'll be the FSLIC all over again, with the big players getting all their money back and the peons getting robbed, as usual.

That was a lesson I only ever needed to learn once - but as pointed out mere metal won't put food on your table, so a lot of my "deepstock" investment is in things that will have value no-matter-what.

I worry about destabilizing the dollar though, especially given how it could also potentially amplify tensions along existing social fractures such as by income level, or sanity versus fundamentalism, yadda yadda.

Admittedly though, my first thought upon hearing of this was "Yeah, jump you fuckers!" - once echoed by my ancestors back in the 1920's with about as much fervor.

-F

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So they're not facing economic demise.

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The next day, January 27, Tata Motors managing director Karl Slym, 51, was found dead on the fourth floor of the Shangri-La hotel in Bangkok. Police said he could have committed suicide

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The rot moves from the margins to the center, but the disease moves from the center to the margins. That is what has happened in the realm of money in recent weeks due to the sustained mispricing of the cost of credit by central banks, led by the US Federal Reserve. Along the way, that outfit has managed to misprice just about everything else — stocks, houses, exotic securities, food commodities, precious metals, fine art. Oil is mispriced as well, on the low side, since oil production only gets more expensive and complex these days while it depends more on mispriced borrowed money. That situation will be corrected by scarcity, as oil companies discover that real capital is unavailable. And then the oil will become scarce. The “capital” circulating around the globe now is a squishy, gelatinous substance called “liquidity.” All it does is gum up markets. But eventually things do get unstuck.

Meanwhile, the rot of epic mispricing expresses itself in collapsing currencies and the economies they are supposed to represent: India, Turkey, Argentina, Hungary so far. Italy, Spain, and Greece would be in that club if they had currencies of their own. For now, they just do without driving their cars and burn furniture to stay warm this winter. Automobile use in Italy is back to 1970s levels of annual miles-driven. That’s quite a drop.

Before too long, the people will be out in the streets engaging with the riot police, as in Ukraine. This is long overdue, of course, and probably cannot be explained rationally since extreme changes in public sentiment are subject to murmurations, the same unseen forces that direct flocks of birds and schools of fish that all at once suddenly turn in a new direction without any detectable communication.

Who can otherwise explain the amazing placidity of the sore beset American public, beyond the standard trope about bread, circuses, and superbowls? Last night they were insulted with TV commercials hawking Maserati cars. Behold, you miserable nation of overfed SNAP card swipers, the fruits of wealth and celebrity! Savor your unworthiness while you await the imminent spectacles of the Sochi Olympics and Oscar Night! Things at the margins may yet interrupt the trance at the center. My guess is that true wickedness brews unseen in the hidden, unregulated markets of currency and interest rate swaps.

The big banks are so deep in this derivative ca-ca that eyeballs are turning brown in the upper level executive suites. Notable bankers are even jumping out of windows, hanging themselves in back rooms, and blowing their brains out in roadside ditches. Is it not strange that there are no reports on the contents of their suicide notes, if they troubled to leave one? (And is it not unlikely that they would all exit the scene without a word of explanation?) One of these, William Broeksmit, a risk manager for Deutsche Bank, was reportedly engaged in “unwinding positions” for that that outfit, which holds over $70 trillion in swap paper. For scale, compare that number with Germany’s gross domestic product of about $3.4 trillion and you could get a glimmer of the mischief in motion out there. Did poor Mr. Broeksmit despair of his task?

Physicist Stephen Hawking declared last week that black holes are not exactly what people thought they were. Stuff does leak back out of them. This will soon be proven in the unwinding derivatives trades when most of the putative wealth associated with swaps and such disappears across the event horizon of bad faith, and little dribbles of their prior existence leak back out in bankruptcy proceedings and political upheaval.

The event horizon of bad faith is the exact point where the credulous folk of this modern age, from high to low, discover that their central banks only pretend to be regulating agencies, that they ride a juggernaut of which nobody is really in control. The illusion of control has been the governing myth since the Lehman moment in 2008. We needed desperately to believe that the authorities had our backs. They don’t even have their own fronts.

Is the money world at that threshold right now? One thing seems clear: nobody is able to turn back the plummeting currencies. They go where they will and their failures must be infectious as the greater engine of world trade seizes up. Who will write the letters of credit that make international commerce possible? Who will trust whom? When do people seriously start to starve and reach for the pitchforks? When does the action move from Kiev to London, New York, Frankfurt, and Paris?

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Originally posted by SIGNYM:
Maybe it's all about The Fed turning off the money-spigot (just like the conservatives want)?

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Originally posted by 1kiki:
hmmmm ...It cuts a picture of global finances on the cusp of an abyss.

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Maybe it's all about The Fed turning off the money-spigot (just like the conservatives want)?- signy

Yep. That's EXACTLY what conservatives want.-rappy

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invalidating global currencies wholesale

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"Sarah, if the American people ever find out what we have done, they will chase us down the streets and lynch us."
-George H.W. Bush

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