Credit deflation and the reflation cycle to come (part 5)

[Animal Spirits]

3 minutes ago, ThoughtCriminal said:

It's almost as if............

 

We truly are rules by complete fuckwits.

The UK is "winning" the race to de-industrialize. They should add back in the CO2 from the imports made in China and then see what the difference is.

[desertorchid]

10 minutes ago, ThoughtCriminal said:

It's almost as if............

 

We truly are rules by complete fuckwits.

I'll just stick this here. I am sure it is not related though.

 

 

[Loki]

Are you all trying to piss off the clouds or something? This is how you get smited 

 

[janch]

3 hours ago, DoINeedOne said:

Random but interesting 

More on reverse repo and how it's making the banking crisis worse:

https://www.zerohedge.com/markets/hedge-fund-cio-fed-wishes-it-had-shut-down-reverse-repo-facility-which-making-bank-run

The Fed introduced the reverse repo policy (RRP) in 2014 when they lost control of market operations at the zero lower bound. But after losing control of inflation, they hiked interest rates so fast it sparked a bank run.

Now, investors are pulling cash from banks to buy money-market funds that invest in risk-free high-yielding reverse repos.

This exacerbates the bank run, and contracts credit in the economy. Which scares investors into selling risk assets to park more cash in reverse repos.

And our central bankers wish they’d seen this coming and shut the program years ago. But they didn’t and it’s too late. So instead, they “clarified” their intent, and will probably build another complex program on top of something that should no longer exist. And/or slash interest rates. In the hope of regaining control.

Even as it slips away.

[janch]

Lyn Alden's latest newsletter:

https://www.lynalden.com/april-2023-newsletter/

[janch]

Nicked from @NTBon another thread:

https://www.foxnews.com/world/zimbabwe-introduce-gold-backed-digital-currency

Zimbabwe will launch a digital currency next month by introducing "tokens" that are backed by gold reserves and can be transferred between people and businesses as a form of payment, the country's central bank said Friday.

The move is aimed at shoring up Zimbabwe's faltering national currency, the Zimbabwe dollar, which is fast depreciating amid yearslong economic woes in the southern African nation.

 

[Long time lurking]

 

[ThoughtCriminal]

22 minutes ago, Animal Spirits said:

The UK is "winning" the race to de-industrialize. They should add back in the CO2 from the imports made in China and then see what the difference is.

Yes, that wouldn't even occur to her in a million years. The calibre of MPs compared to even 30 years ago is astonishingly poor.

[M S E Refugee]

Silver is making a run up to $26.

Just sold some this weekend and I'm redeploying some of the money into the Miners this afternoon.

[Ash4781b]

32 minutes ago, Animal Spirits said:

The UK is "winning" the race to de-industrialize. They should add back in the CO2 from the imports made in China and then see what the difference is.

Dunno they seem to be doubling down leaving us at the mercy of imports. The worry one for me is food production. They already talking about co2 impact. Maybe shut down loads of food production (turn into houses?) then be at mercy of just in time imports and global markets. As the likes of Tesco run the supply chain just end up then shrugging shoulders sorry no xyz food ?

[ThoughtCriminal]

That thing America told us would never happen just happened. lol

[Yadda yadda yadda]

1 hour ago, ThoughtCriminal said:

It's almost as if............

 

We truly are rules by complete fuckwits.

Replies are mostly slagging that "achievement" off.

Edited May 1, 2023 by Yadda yadda yadda

[Starsend]

1 hour ago, desertorchid said:

I'll just stick this here. I am sure it is not related though.

 

 

That chart is exactly what you'd expect to see for a country that has put half its people on benefits and is doing its best to import more from the third world so they can put them on benefits as well. No mystery to any it.

Edited May 1, 2023 by Starsend

[King Penda]

8 minutes ago, Starsend said:

That chart is exactly what you'd expect to see for a country that has put half its people on benefits and is doing its best to import more from the third world so they can put them on benefits as well. No mystery to any it.

Great stuff we are the only red one that means we are special surley 

[ashestoashes]

1 minute ago, King Penda said:

Great stuff we are the only red one that means we are special surley 

hopefully having an Indian PM will help when we go to them with the begging bowel

[Sugarlips]

Praying this isn’t premature but Silver is over $26 for first time in at least a year, is this the time it goes up bigly..?

[King Penda]

8 minutes ago, Sugarlips said:

Praying this isn’t premature but Silver is over $26 for first time in at least a year, is this the time it goes up bigly..?

I’ve only got 1 kilo mind that’s 1kg more than 90% of the population . Think it cost me £850 in November 

Edited May 1, 2023 by King Penda

[JMD]

6 hours ago, DoINeedOne said:

Random but interesting 

Very interesting and perhaps not so random - Instead, is that story in fact more evidence of the 'quiet quiter' revolution?

Moreover, In regard to the 'quiet quiters'  I wonder how those people occupy themselves after retirement, and have the time to notice how all around them, plus the time to think long and hard, upon how their country is going down the tubes?     

...Maybe not a topic for this thread but definitely something to ponder, eg what might happen to swathes of disaffected middle-aged/older men with resources and lots of time on their hands - this is a new phenomena, we've had unemployed feckless youth before, but this i think is something very different.

Edited May 1, 2023 by JMD

[belfastchild]

15 minutes ago, King Penda said:

I’ve only got 1 kilo mind that’s 1kg more than 90% of the population . Think it cost me £850 in November 

Sorry mate, I always use the buy back prices when comparing to when I bought it.
https://atkinsonsbullion.com/sell-to-us/silver/silver-bars/1kg-silver-bars/1kg-silver-bullion-bar-certificated

Not great news. Still 200 quid down. Thats the VAT problem right there.

[King Penda]

12 minutes ago, belfastchild said:

Sorry mate, I always use the buy back prices when comparing to when I bought it.
https://atkinsonsbullion.com/sell-to-us/silver/silver-bars/1kg-silver-bars/1kg-silver-bullion-bar-certificated

Not great news. Still 200 quid down. Thats the VAT problem right there.

That’s very true but there are things you can do with silver and ready cash that’s not in the system.has an example I’ve got over 9k in cash that will need to be banked has the notes will change due to the death of the queen . Has you can see for some weird reason I’m just under 6k. I won’t go above 6k ever .

Edited May 1, 2023 by King Penda

[Sugarlips]

3 minutes ago, JMD said:

Very interesting and perhaps not so random - Instead, is that story in fact more evidence of the 'quiet quiter' revolution?

Moreover, I wonder how those guys occupy themselves once retired, and have the time to notice how all around them, plus the time to think long and hard, upon how their country is going down the tubes?     

...Maybe not a topic for this thread but definitely something to ponder, eg what might happen to swathes of disaffected middle-aged/older men with resources and lots of time on their hands - this is a new phenomena, we've had unemployed and feckless youth before, but this is something very different.

I hear Harley’s are no longer made in the USA as of a couple of years ago. Not going to sit well with the Patriots who are a large part of the biker movement, presumably reflected in sales, a bit like Bud Light.

[ThoughtCriminal]

50 minutes ago, Yadda yadda yadda said:

Replies are mostly slagging that "achievement" off.

Yes, scepticism toward co2 induced climate change is higher than ever.

[Yadda yadda yadda]

39 minutes ago, ashestoashes said:

hopefully having an Indian PM will help when we go to them with the begging bowel

Begging bowel?! You're suggesting he is going to have to bend over and brace?

[King Penda]

1 minute ago, Yadda yadda yadda said:

Begging bowel?! You're suggesting he is going to have to bend over and brace?

Hope not he will demand we let in another million Indians 

[ThoughtCriminal]

15 minutes ago, belfastchild said:

Sorry mate, I always use the buy back prices when comparing to when I bought it.
https://atkinsonsbullion.com/sell-to-us/silver/silver-bars/1kg-silver-bars/1kg-silver-bullion-bar-certificated

Not great news. Still 200 quid down. Thats the VAT problem right there.

This is the issue with physical silver, trying to sell the bloody thing when the time comes.

 

I had (before my boat sank) 10kg of pre 1947 assorted coins, so no VAT. I bought them for the long term, but I still wonder how easy it will be to sell them when the day comes though.