Thursday, October 7, 2010

New Quote Of The Month Candidate

Today the signs are all there for an earth-shaking currency collapse, but we are all like a bunch of rabbits,glued to the highway, mesmerized and immobilized by the glare of an oncoming eighteen wheeler. In fact, a convoy of eighteen wheelers. If the first one doesn’t get us, the second certainly will.

That's by Murray Pollit of Pollit & Co. This is one analyst/commentator to whom I always pay attention. I've linked his entire commentary below (it's short and not sweet).

PollitonGold -


  1. I think this is what the action in Gold and Silver has been telling us.

    We are right on the hairy edge of a major USD crisis that might even wake up the sleep-walking masses.

    Joe M.

  2. We cannot be close to a crisis, the S&P is going UP!!!!!
    snark for Friday enabled.

    Have a great weekend!

  3. This will be much bigger then just the U.S. Most European countries will have an economic collapse as well. China with all it's wealth and growth will suffer when their "customers" are all bankrupt. Resource rich countries with small populations (like Canada and Australia) may not be hit quite as bad but they too will suffer. Which domino falls first may be the mystery but the real question is which country(s) come out of it in good shape is the question. If you can ride out the early part of the collapse I'm betting the U.S. will be one of the best places to be a few years from now. Not as good as it once was but better then some places will be in a few years. Canada and Australia may ride this out fairly well.

  4. Wow! I never knew I was a JERK

  5. October 8, 2010

    London, Asharq Al-Awsat – Iraqi political and security sources in Baghdad have spoken of their fears of either a military coup taking place in Iraq or a militant Shiite militia overthrowing the government.

    An Iraqi official, speaking to Asharq Al-Awsat from Baghdad, revealed that "important Iraqi political leaders have strengthened the security of their headquarters, offices, and homes" adding that they have also "restricted their movements both inside and outside of Baghdad." The source claimed that this came "following advice or warnings from Iraqi security and US military commanders in Iraq."

    The Iraqi official, who spoke to Asharq Al-Awsat on the condition of anonymity, said that "we are not ruling out a military coup taking place especially as the political history of Iraq is full of military coups, and in light of the decision of the commander-in-chief of the Iraqi armed forces, Prime Minister Nouri al-Maliki, to surround Baghdad with military forces…and to exclude other leaders from positions of direct responsibility of the movements of the army, as well as the arrest of senior officers in Baghdad, Mosul, Diyali, Tikrit. This gives rise to fears of a military coup in the event of al-Maliki not being able to remain as prime minister."

  6. Here we go. Distraction of the masses by means of war. Good time to get tough just before the November elections. Cos one thing is sure Hezbollah will not take the rap for Harari so they will change the government in Beruit if the UN does not back down. Afterall they won the last election and only agreed to the current compromise if Harari's son did not push his father's death onto them or Syria. Harari has gone back on this deal.

    Obama ultimatum makes Assad responsible for any Hizballah violence in Lebanon
    DEBKAfile Exclusive Report October 9, 2010,

    President Obama had four objects in mind when he posted his exceptionally tough ultimatum:

    1. The Syrian and Iranian presidents have been leaning hard on Hizballah leader Hassan Nasrallah to strike as soon as Ahmadinejad is gone to grab Lebanon's centers of power and burn the ground from under Saad Hariri's government.
    2. This action carries the high risk of civil war or Israeli military intervention, both of which the Obama administration is intent on averting.

    3. When US diplomats asked Arab League foreign ministers gathered in Sirte, Libya, Friday not to slam the door on direct Israel-Palestinian talks, they were informed by the Saudi and Egyptian ministers that this issue was inextricably bound up with the crisis in Lebanon. If Washington agreed to step in firmly to preserve the stability of the Hariri administration, they would see to it that the US is given time to overcome the impasse on the Israeli-Palestinian track over Israeli construction on the West Bank and Jerusalem