QUOTE OF THE MONTH

Peter Schiff today on CNN. My jaw hit the floor and I yeehaed like the Dodgers had made it to the World Series. -- "This is a phony economy. There's only one thing to do and that's tear it down completely and build a new one from scratch."

We aren't the only ones who get it. Now if the damned Libertarians would just get Peak Oil. There's an alliance that just might save the world.

WARNING: THE FOLLOWING MAY CONTAIN LANGUAGE THAT IS OFFENSIVE TO SOME-- PARENTAL CAUTION IS ADVISED

As a writer I have always thought it my highest duty to most accurately describe events as they actually are; hopefully in the fewest possible words. I watched the markets with a microscope all day today. There is only one way to describe what I saw. Let's begin with a commonly accepted term: "The markets took a dump". What I saw today was markets that are deathly ill with dysentery. In the natural world it was a leading cause of death. All day the markets leaked and squirted and the internal agonies were all too apparent, as were some very strange noises. The eruption is inevitable; the evacuation must happen. Distance, splash guards and protective gear are recommended. Hang on to your gold because the Fed is flat out telling people a .75 rate cut is coming.

IMPLOSION PLUS -- Turn on the printing presses while prices are falling rapidly, at a point in time when nothing has shaken out. Do it when the biggest crashes are still coming. The snake is eating its own tail. That's my original line from maybe eight or nine years ago. Now the bite nears the heart.

Citigroup Update

This could be big and it could hurt them real badly. One of the reasons why I watched Citigroup so closely from the start is that I have been documenting their criminal behavior for eight years or more; especially vis a vis drug-money laundering. Sure, there are lots of lawsuits out there. But when TSHTF I have always looked at the most conspicuously dirty player first. That's Citigroup. There was nothing about them for days when the crash started three weeks ago. Silence. That told me a lot. It told me that Citi was in heavy play behind the scenes and under the carpet. Citi is the one that can pull the plug. You can bet that the people filing this lawsuit have some damn good evidence. "Those who win in a rigged game get stupid". That was not my original line.

http://newsticker.welt.de/index.php?channel=fin&module=smarthouse&id=799319

MCR