I'm starting to see cracks here and there that should be cause for concern. Yeah, I know that old bitch Yellen said no more financial crises in our lifetimes but only a moron thinks that criminal government and their banking cartel are going to be honest about anything.
All I'm saying is that if the volcano starts to rumble, the wise man sleeps as far away from it as possible, and keeps one eye open. And the rumbling is happening. First we have the unexpected repo madness where the federal reserve had to inject liquidity into the system pretty much every day last week. In 4 days they quietly injected about half of what was seen as a big deal for TARP back in 2008. Apparently half of TARP doesn't require congressional permission anymore. If you think you are going to get any advance warning of the collapse, think again. You won't.
Much more recently, Thomas Cook, the oldest travel agency in the world, went bankrupt over the weekend. The reason? They could no longer find anyone to roll over their debt. But don't worry, they "profoundly regret" being caught up in the debt Ponzi. To make it worse, they are stranding all their customers all over the world after having taken money from the customers up front and not used the money to pay the hotels, etc. After all, why pay in real time when you can float the debt for 90 days net? Well it all sounds good until the magick crystal cracks and then the next sound you hear is the toilet flushing with all your money in it.
Sunday, September 22, 2019
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