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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (149962)	4/23/2011 9:44:09 AM
From: ChanceIs	Read Replies (1) \| Respond to of 206097

>>>The question is whether the Chinese, the Japanese, or indeed the American holders of treasuries will accept newly issued paper. PIMCO sold all theirs. Some people are saying the Japanese will want money for rebuilding after the recent disasters, and others are saying that the Chinese are losing confidence in U. S. credit.<<< Bingo. Bingo. Bingo. Bingo. I will take a moment to wail on Bill Gross - the bond king. The SOB came to Washington in '07-'08 proclaiming the end of western civilization if the Fed didn't lower interest rates. It did. Bonds and rates move in opposite directions. So his monster bond portfolio rose probably as far as it could. He subsequently sold all of it at these maximum prices and may have even gotten short. Well. Maybe he didn't get max price as rates rose as Bernanke printed through QEII. How strange was that?? Could it be that Gross and the Chinese were dumping into Bernanke's massive purchasing? Did Bill Gross get the government to push the market both ways for him? Please don't answer that. "I can't handle the truth." Regarding Wiemar, one can't help but notice the very large number of comparisons these days. I got some interesting new insight from one knowledgeable author. I am rather sure that the WWI debts were all in foreign currency - not German - so that Germany couldn't print its way out. (Nothing like kicking someone when they are down, and the US would never do something that dicey.) But that is not the point. Germany still printed out the wazooo but in the more "traditional" attempt to keep its currency weak to in turn increase its exports and get its idle productive capability put to use. Then a funny thing happened. There was a worldwide recession and all of Germany's trading partners did the same thing. So the process didn't work for Germany and it had all of these idle Wiemar notes sitting around without anything to do - hence the hyperinflation. Interesting factoid for the board. I was amazed ... AMAZED ... to read last fall that Germany was just then, making its final WWI debt payment and officially putting an end to the war. One would have thought that the slate was wiped clean after WWII.

To: Tommaso who wrote (149962)	4/23/2011 10:26:03 AM
From: ChanceIs	1 Recommendation Read Replies (1) \| Respond to of 206097

>>>I guess when you say "roll out" you mean what is usually called "rollover."<<< Very good. You win. Let's use "rollover." That is the concept I was attempting to convey. I think that the operation word is "roll." To close with some humor, I heard a banking analyst state that back in the '80s S&L crisis, the phrase de jour was: "A rolling loan gathers no loss." At the beginning of the current crisis it had morphed into: "Extend and pretend." Two years ago when it became apparent that things really hadn't improved, we moved into: "Delay and pray." I don't know where we stand today. Maybe I will put my mind to it and see if I can't turn a phrase.