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User Info Potential Economic Seizure DEAD AHEAD in forum [Ticker]
Genesis
Posts: 66463
Incept: 2007-06-26
A True American Patriot!
Royal Flush!
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http://market-ticker.denninger.net/archi....

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I used to play flute; I wonder if I can play a fife?
I incite prosecutors to create "Bubba Sausage Parking Lot" projects
Darrell Issa has a middle finger and knows how to use it - Me
2008-10-10 07:50:57
Stonedog
Posts: 1068
Incept: 2008-05-29 A True American Patriot!
New Jersey
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KD - you have been so right all the way down the line. Finally now people are waking up. Now shipping is shutting down. Markets are being destroyed.

I'm getting on the phone again to Congress at 9:00. But I don't hold out much hope that our elected idiots will make the right decision.

Thanks for all of your efforts!


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"F**k CNBS, CONgress, Obama, the Democrats, the Republicans, the ratings agencies, the Banksters, the Fed, the FASB, all the government regulatory agencies, the Trilateral Commission, the Council of Foreign Relations, the G whatever, the UN, and any other bastard or big corporate interest that has a fingerprint on this
2008-10-10 08:16:49
Fatso
Posts: 1487
Incept: 2008-02-03
A True American Patriot!
Roll on up, gonna roll back down
Online
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When absence of credit hits the truckers and there's food shortages, that will be a moment of awakening for J6P.

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The most defining theme, and overriding purpose, of the U.S. Constitution is to limit the power of the federal government. Over that, there can be no historical, or textual, debate.
- Tickerfan
2008-10-10 08:29:17
Joe
Posts: 602
Incept: 2008-06-18
Boston, MA
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If the president has any scruples, he goes on TV this morning and lays it all on the table. We must know which economic body parts to severe to save the whole. His legacy is shot at this point, so what's to lose, time to perform surgery. No more bull****.

2008-10-10 08:44:25
Ursamajor
Posts: 318
Incept: 2008-01-23
The Empire State
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What we need now is TRUTH. Truth in balance sheets. Enough playing "hide the bags of **** and hope they'll go away". Time for everyone to show their hands and literally let the chips fall where they may. It's the only way to restore trust.

And about the only thing you won't hear from the mainstream media.

2008-10-10 09:39:20
Growngfree
Posts: 228
Incept: 2008-03-17

Mid Atlantic
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Loan isn't made if ability to pay back is in question...exactly why "heads" are pumping Treasuries, and exactly why I won't buy them. Whatever they sell hard I run from. Good stuff doesn't need promotion.

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Hope is never lost

2008-10-10 10:52:22
Genesis
Posts: 66463
Incept: 2007-06-26
A True American Patriot!
Royal Flush!
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Updated to note that there is no OMO for the last 2 days, and The Fed has ZERO treasuries and Agencies on its books.

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I used to play flute; I wonder if I can play a fife?
I incite prosecutors to create "Bubba Sausage Parking Lot" projects
Darrell Issa has a middle finger and knows how to use it - Me
2008-10-10 11:02:56
Francisco
Posts: 1269
Incept: 2007-07-27

State of Jefferson, USA
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One small piece of good news: CNBS reported that JPM's Jaime Dimon issued a public statement opposing any relaxation of mark-to-market rules. He understands that removing transparancy would further damage the markets.

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"We have met the enemy, and he is us." —Pogo


2008-10-10 11:03:57
Blackswan
Posts: 3360
Incept: 2007-11-06

Execution Pit
Online
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KD -

So all that is left on the FEDs books is toxic **** sandwiches? (If they have collateral at all?)

Sorry just re-read it. WTF!?

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The market can crash further then you can remain short.
Trade the moon cycle not the tape you want.

Last modified: 2008-10-10 11:42:54 by blackswan

2008-10-10 11:40:18
Genesis
Posts: 66463
Incept: 2007-06-26
A True American Patriot!
Royal Flush!
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Go look. What they have in Repo is right there.

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I used to play flute; I wonder if I can play a fife?
I incite prosecutors to create "Bubba Sausage Parking Lot" projects
Darrell Issa has a middle finger and knows how to use it - Me
2008-10-10 11:41:36
Aja
Posts: 1956
Incept: 2008-03-19
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Correct me if I'm wrong, but this has never happened before. They've squandered all the Ts that it took them 100 yrs to accumulate?

Question - do we know whether any other developed country's CB is 100% crap too?

2008-10-10 12:14:49
Ksfq
Posts: 1007
Incept: 2007-07-11

California
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The problem here is that trust can be destroyed very fast, while it needs long time to be rebuilt. Now the trust is gone - and there is no quick fix to reestablish it.
I think the very first step is to acknowledge the problem. I was hoping that Bush will say something about core of the problem.

2008-10-10 12:29:27
Fatso
Posts: 1487
Incept: 2008-02-03
A True American Patriot!
Roll on up, gonna roll back down
Online
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CNBC is asking for people to call/write in with suggestions of who should come on and present their plan to fix things.
This is what I just sent to PowerLunch@CNBC.com:

Quote:

Dear CNBC,
There is a responsible adult who has outlined the plan that WILL restore confidence to the market.

His name is Karl Denninger.
He can be contacted through www.FedUpUSA.com
or
Karl@Denninger.net
(850) 897-4854

You NEED to have this guy on immediately.

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The most defining theme, and overriding purpose, of the U.S. Constitution is to limit the power of the federal government. Over that, there can be no historical, or textual, debate.
- Tickerfan
2008-10-10 12:32:38
J6p
Posts: 1316
Incept: 2008-10-07

NC
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I made a thread in breaking about it just a minute ago. Someone linked the video and another said he contacted.

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"Master your past in the present, or your past will master your future" -weirdchina
2008-10-10 13:37:43
Av8rphil
Posts: 1817
Incept: 2007-06-26

Platte City, MO
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Add to the PowerLunch:

He was already on MSNBC. He is a very intelligent trader that even the people at Minyanville quote.



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"Two things in life are infinite: the universe and human stupidity; and i'm not sure about the universe" -Einstein
2008-10-10 15:27:58
Neverfox
Posts: 21
Incept: 2008-09-25
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So given what you are saying, what's the response to articles like this that say all indicators, from Federal Reserve statistics to anecdotal evidence from local bankers and auto dealers, confirm that ample money is available to people with good credit and/or collateral.

http://www.independent.org/blog/?p=255

Can someone here can explain what's missing from his analysis or are we getting ahead of ourselves?

2008-10-10 16:41:35
Genesis
Posts: 66463
Incept: 2007-06-26
A True American Patriot!
Royal Flush!
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Sure. You can figure out if I am a good credit risk Never.

Now how do you figure out if a financial company is a good credit risk when their balance sheet is full of bull****?

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I used to play flute; I wonder if I can play a fife?
I incite prosecutors to create "Bubba Sausage Parking Lot" projects
Darrell Issa has a middle finger and knows how to use it - Me
2008-10-10 17:26:07
Mmadeel
Posts: 41
Incept: 2008-03-07
Michigan
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Are we still gonna crash and burn or did the fire get doused a little bit today?

2008-10-10 17:34:35
Genesis
Posts: 66463
Incept: 2007-06-26
A True American Patriot!
Royal Flush!
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What, that wasn't a crash?!

Uh, its called a bear-market rally, and we're due for one. Then more crash.

Nothing goes in a straight line and "they" know full well that if the G7 doesn't pop up with some sort of rabbit we will blow wide and loud Monday.

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I used to play flute; I wonder if I can play a fife?
I incite prosecutors to create "Bubba Sausage Parking Lot" projects
Darrell Issa has a middle finger and knows how to use it - Me
2008-10-10 17:35:54
Mtgspy
Posts: 5860
Incept: 2007-10-27
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You guys completely j6p-ish when trading, it used to take weeks for those bear market rallies, it now takes minutes to complete, top off, and voila monday you may see what that last 5 minutes of dow component selling will do to your account if you go long. hehehehe.

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You kill them all! - Genesis
2008-10-10 17:39:11
Meatpuddle
Posts: 630
Incept: 2007-07-26

Madame Merriweather's Mudhut Malaysia
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Uh-Oh, Italy's out of the G7 draft...

http://calculatedrisk.blogspot.com/2008/....

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"the idea that you're "entitled" to a 5 or 6 percent 30 year mortgage is horse****, and so is the housing prices that it has created." - Genesis
2008-10-10 17:52:57
Slartibartfast
Posts: 2420
Incept: 2007-12-04
A True American Patriot!
San Francisco
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Bully for them.


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Cthulhu R'yleh Goldman Sachs
2008-10-10 18:09:23
Bluebird
Posts: 453
Incept: 2008-05-02
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Isn't Monday a holiday for Columbus Day?

2008-10-10 18:15:14
Genesis
Posts: 66463
Incept: 2007-06-26
A True American Patriot!
Royal Flush!
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Stock market is open, banks are closed.

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I used to play flute; I wonder if I can play a fife?
I incite prosecutors to create "Bubba Sausage Parking Lot" projects
Darrell Issa has a middle finger and knows how to use it - Me
2008-10-10 18:23:00
Market-shaker
Posts: 674
Incept: 2007-08-24

California
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People looking for a circuit breaker to trip to recognize it as a crash.
We definitely had multiple small crashes this week equal to a big crash.

2008-10-10 18:58:52
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