Monday, August 1, 2011

The Great Satan Sandwich

Now, that doesn't sound very good.  Congressman Emanuel Cleaver of Kansas City has termed the debt limit deal "a satan sandwich:"  “This deal is a sugar-coated satan sandwich. If you lift the bun, you will not like what you see.” LINK

Hmmm...I'm not sure what he's trying to communicate there other than that Mr. Cleaver doesn't have any solutions to the tragic problem of Government spending.  Let's be clear:  this is a spending problem, not a borrowing problem.

However, as to Cleaver's remark, this is how the Urban Dictionary defines a satan sandwich:  "The chiefest of hell's dark delights, it is said that just one bite of it arouses an unspeakable lust of terrific potency." LINK

Well then, that sounds pretty good.  I'll take mine with barbecue sauce, please.


  1. I'll take mine with a side dish of Marilyn Monroe.

  2. Oh that was a TONGUE sandwich that you ordered. Wrong organ meat.

    Sorry Rev. Cleaver.

  3. The good people of this country are sandwiched between corruption and a shit currency....

    Such is the world, and such it will ever be. Today, Ph Ds in Economics infest the landscape. They are supposed to know a lot more than the rest of us, who refer to experience in our critical view of the world’s illness, and point out what is wrong. However, we are not to be taken into account, like the Aztec doctors, because we do not know the all-important theory. We only have the experience of centuries, or millennia, to back up our considerations, and that of course, cuts no ice: no diplomas and no TV time for people who refer to historical experience; diplomas and kudos and respect are for the theorists, as possessors of arcane knowledge.

    Of course, all of us have preconceived notions about everything, we couldn’t manage life without them; but some people are able to see past important preconceived notions, especially those who have spent many years looking at facts and attempting to make sense out of them. Others can look at facts and never really see anything, because they are intellectually lazy or because they just don’t care to set aside generally accepted opinion and decide for themselves. It’s so much easier to go with the flow!

    But the ultimate delusion prevailing in the world for the last forty years is fiat money. This delusion is so powerful that only a tiny minority among the close to 7 billion human beings on Earth is aware that it is a delusion, that all the money being used in the world as money, is in fact not money, but a simulation of money. Fiat money is now rapidly destroying the world, but in spite of all the signs pointing to fiat money as the cause, the foremost brains of the world refuse to acknowledge the fact. Their theories, which they were taught in prestigious schools and universities, take precedence over the fact of collapsing economies. As James Grant, publisher of The Interest Rate Observer points out, we are on a “Ph D Standard” – and the Ph Ds are taking the world down with their theories. I suspect that if these Ph Ds were injected with a “truth serum”, they would confess that they don’t actually believe their theories, but that for personal reasons, they prefer not to question them publicly.

  4. Stay tuned. An alternate definition of 'satan sandwich' has been submitted. Let's see if it gets any traction.

  5. (Dave)

    Can you post it here if they publish it?


  6. Is the scenario of a higher gold price and dollar (fleeing other currencies/Sprott article)) in the short term possible with the final blow off in gold later happening as money gets pulled from the dollar (final run) in the end game?

    Eric Sprott On The Real Banking Crisis: Global Depositor Bank Runs And Why Gold Is Going Much Higher As A Result

    European bank depositors all face a tough decision today – to withdraw their deposits, or not withdraw and take their chances. Their response to that decision may determine the financial future of the Eurozone. Since 2008, EU Government bailouts have transformed a traditional banking crisis into a full-blown sovereign crisis. The European Central Bank (ECB) has managed to keep the Eurozone banking system going for now, but the constant threat of depositor bank runs makes its future extremely uncertain. A bank run on deposits forces banks to liquidate assets to raise cash. Governments and central banks will go to extreme lengths to avert such a scenario, because a liquidation reveals what an asset is really worth – and they are likely worth far less than what the banks are claiming they’re worth on their balance sheets today.

    Italy and Spain are too big to fail and too big to bail-out, so the future of the Eurozone will be seriously compromised if Italian and Spanish depositors take flight with their euros. To that effect, we found it very instructive to read about new provisions that the Eurozone’s rescue fund, the EFSF, recently incorporated into the latest Greek bail-out. Included among them is the ability for the EFSF to buy sovereign bonds in the secondary market, give EU states "precautionary credit lines" before they are shut out of credit market, and "lend governments money to recapitalize their banks".15 The sovereign crisis, at its root, is still a banking crisis. The banks hold loads of Eurozone sovereign debt. If depositors withdraw capital, those banks must sell some of those sovereign bonds to stay solvent. The EFSF provisions are there to provide the banks with the liquidity they need to survive deposit withdrawals. The question now is what will happen if the EFSF runs out of the funds to do so.

  7. Dave,

    Why is ecu getting creamed when the takeover offer is .97?


  8. (Dave)

    Ari, I wish I knew a good answer. Part of it has to do with the fact that up until today all of the junior miners for the most part were getting hit hard. Look at a chart of the CDNX (toronto venture exchange) or GDXJ.

    ECU is one of the most manipulated mining stocks I've ever seen. One of the largest holders has over 3 years of daily data showing the manipulation and he's filed complaints twice, one of them written by a lawyer, to the Canadian regulators, who do nothing. Canada is just as bad if not worse when it comes to enforcing securities laws.

    Also, AUMN has been getting hit and that can't be borrowed, leading me to conclude that the short sellers have been attacking it too.

    We're all waiting for the deep-drliling of the MSZ to come back - I'm keeping my fingers crossed that the drill samples are what we think they'll be.

  9. Dave, are you at all concerned that ECU/AUMN aren't really producing and may not be for some time?

    seems like a proven producer like impact silver(IPT.v) would be a better bet to be able to take advantage of current/impending prices.

  10. (Dave)

    No not concerned. Playing ECU because it's not producing but is potentially sitting on one of the largest known silver deposits in the world.

    If it were producing, it wouldn't be trading under a buck