Bernanke assaults the dollar

[gales0678]

Originally Posted by johnny pinwheel

bought gold years ago, its doubled. bought more at the beginning of the year, its up about another $130 since. its so bad they contracted printers in other countries to keep up pace. i have silver too. if things get bad enough the dollar bill will be a cheap way to wipe your a$$. i hope it works but its doubtful. once inflation starts its the kind of thing that snowballs fast.

you are correct about this , we can't print the $$ fast eneough in this country, we have to outsource printing USD to foreign countries , the printing presses are running 24/7 not only here but overseas as well

we are not going to be able to spend/print our way out of these problems

[The Indomitable DrugS]

I'm giving up on doing all handicapping work after Wood Memorial/SA Derby day which is April 4th.

I'm basically laying myself off of the only job I've ever had - betting on horses. I've closed all but one account.

I'm sure as hell not going to be all-in with the US dollar anymore. I've started taking a good deal of my cash and moving it into a mix of other investments for now. I've benefited some from this economic mess while a lot of people have got hit - and now I'm getting out before I get decimated. Holding all cash was a never a strategy either - I benifted incidentally because of the major emotional stabilizer a big cash bankroll is to a horse bettor.

I'm totally changing direction with my life mostly because of how disgusted I am with what I see as how other people take advantage of a perverted system while I get all the worst of it.

People value stuff like security and social life. I have zero security - and am in front of a tv or computer at least 12 hours a day - 7 days a week - most of the year. Tedious, hard, and socially suicidal work.

People spend money they don't have, buy stuff they can't afford, American way don't ya know? I'm swimming in cash - and cutting coupons, eating cheap food, run down totally slummy appt just off of 26th street, and in a junker without insurance.

I don't believe anyone could ever do what I have for as long as I have. The combo of tremendous luck and good fortune years ago, tremendous hard work, tremendous skill, tremendous disregard for security, and tremendous cheap ass tight waddedness has allowed me to do what is close to impossible. It's not like I had a big starting bankroll. It's not like I have some fancy formal education to fall back on either in case I bustout. Or some inheritance or future trust fund. I've never had my bankroll supplamented by working as a jocks agent or for a track - I have got paid by a local paper and was a teller for a short time many years ago - but thats it. Have won a few handicapping contests & got put up nice by another bettor for a big P6 I picked for him - but it's come real hard.

Once I stop doing the work - I'm going to have an insane amount of free time. Maybe I can find clever and devious ways to run circles around the system and get rich like a good little businessman. If not, so what. I'd feel like I was real lucky and happy and doing what I most want to be doing - but I hate being forced into the dead 10 path the whole way while most everyone else gets to run wild on a paved rail.

[Cannon Shell]

http://online.wsj.com/article/SB123742149749078635.html

[Cannon Shell]

Originally Posted by The Indomitable DrugS

I'm giving up on doing all handicapping work after Wood Memorial/SA Derby day which is April 4th.

I'm basically laying myself off of the only job I've ever had - betting on horses. I've closed all but one account.

I'm sure as hell not going to be all-in with the US dollar anymore. I've started taking a good deal of my cash and moving it into a mix of other investments for now. I've benefited some from this economic mess while a lot of people have got hit - and now I'm getting out before I get decimated. Holding all cash was a never a strategy either - I benifted incidentally because of the major emotional stabilizer a big cash bankroll is to a horse bettor.

I'm totally changing direction with my life mostly because of how disgusted I am with what I see as how other people take advantage of a perverted system while I get all the worst of it.

People value stuff like security and social life. I have zero security - and am in front of a tv or computer at least 12 hours a day - 7 days a week - most of the year. Tedious, hard, and socially suicidal work.

People spend money they don't have, buy stuff they can't afford, American way don't ya know? I'm swimming in cash - and cutting coupons, eating cheap food, run down totally slummy appt just off of 26th street, and in a junker without insurance.

I don't believe anyone could ever do what I have for as long as I have. The combo of tremendous luck and good fortune years ago, tremendous hard work, tremendous skill, tremendous disregard for security, and tremendous cheap ass tight waddedness has allowed me to do what is close to impossible. It's not like I had a big starting bankroll. It's not like I have some fancy formal education to fall back on either in case I bustout. Or some inheritance or future trust fund. I've never had my bankroll supplamented by working as a jocks agent or for a track - I have got paid by a local paper and was a teller for a short time many years ago - but thats it. Have won a few handicapping contests & got put up nice by another bettor for a big P6 I picked for him - but it's come real hard.

Once I stop doing the work - I'm going to have an insane amount of free time. Maybe I can find clever and devious ways to run circles around the system and get rich like a good little businessman. If not, so what. I'd feel like I was real lucky and happy and doing what I most want to be doing - but I hate being forced into the dead 10 path the whole way while most everyone else gets to run wild on a paved rail.

http://www.govbenefits.gov/govbenefits_en.portal

[The Indomitable DrugS]

Originally Posted by Cannon Shell

http://www.govbenefits.gov/govbenefits_en.portal

Is there anything there for horseplayers who scratch and claw for what little they have - and just got hit with Bernanke stealing thousands of dollars from them?

Soak the rich with taxes if you must ... to assault someone like me - who does everything right and doesn't have much - solely because the rich and middle-class and poor all behaved irresponsibly .. it's a total fucl<ing crime.

[stonegossard]

Originally Posted by The Indomitable DrugS

I'm giving up on doing all handicapping work after Wood Memorial/SA Derby day which is April 4th.

I'm basically laying myself off of the only job I've ever had - betting on horses. I've closed all but one account.

I'm sure as hell not going to be all-in with the US dollar anymore. I've started taking a good deal of my cash and moving it into a mix of other investments for now. I've benefited some from this economic mess while a lot of people have got hit - and now I'm getting out before I get decimated. Holding all cash was a never a strategy either - I benifted incidentally because of the major emotional stabilizer a big cash bankroll is to a horse bettor.

I'm totally changing direction with my life mostly because of how disgusted I am with what I see as how other people take advantage of a perverted system while I get all the worst of it.

People value stuff like security and social life. I have zero security - and am in front of a tv or computer at least 12 hours a day - 7 days a week - most of the year. Tedious, hard, and socially suicidal work.

People spend money they don't have, buy stuff they can't afford, American way don't ya know? I'm swimming in cash - and cutting coupons, eating cheap food, run down totally slummy appt just off of 26th street, and in a junker without insurance.

I don't believe anyone could ever do what I have for as long as I have. The combo of tremendous luck and good fortune years ago, tremendous hard work, tremendous skill, tremendous disregard for security, and tremendous cheap ass tight waddedness has allowed me to do what is close to impossible. It's not like I had a big starting bankroll. It's not like I have some fancy formal education to fall back on either in case I bustout. Or some inheritance or future trust fund. I've never had my bankroll supplamented by working as a jocks agent or for a track - I have got paid by a local paper and was a teller for a short time many years ago - but thats it. Have won a few handicapping contests & got put up nice by another bettor for a big P6 I picked for him - but it's come real hard.

Once I stop doing the work - I'm going to have an insane amount of free time. Maybe I can find clever and devious ways to run circles around the system and get rich like a good little businessman. If not, so what. I'd feel like I was real lucky and happy and doing what I most want to be doing - but I hate being forced into the dead 10 path the whole way while most everyone else gets to run wild on a paved rail.

I give this post 9 diapers (out of 10).

[stonegossard]

Originally Posted by DaHoss9698

Only 9?

There has only been one 10 diaper award ever given. While this was close, not quite there.

[hi_im_god]

Originally Posted by gales0678

you are correct about this , we can't print the $$ fast eneough in this country, we have to outsource printing USD to foreign countries , the printing presses are running 24/7 not only here but overseas as well

we are not going to be able to spend/print our way out of these problems

wait...what?!?

you and johnny think the fed increases the money supply by physically printing it?

the money supply is increased by loosening credit. it's done by pushing buttons on a keyboard, the same way preposterous idea's are minted on the internet.

there's about $1 trillion cash in circulation right now, the same as there always is.

they print money to replace what is taken out of circulation. where on earth did you get the idea we were having dollars printed overseas?

[GBBob]

Originally Posted by hi_im_god

wait...what?!?

you and johnny think the fed increases the money supply by physically printing it?

the money supply is increased by loosening credit. it's done by pushing buttons on a keyboard, the same way preposterous idea's are minted on the internet.

there's about $1 trillion cash in circulation right now, the same as there always is.

they print money to replace what is taken out of circulation. where on earth did you get the idea we were having dollars printed overseas?

oh..I don't know...the internet

[gales0678]

Originally Posted by hi_im_god

wait...what?!?

you and johnny think the fed increases the money supply by physically printing it?

the money supply is increased by loosening credit. it's done by pushing buttons on a keyboard, the same way preposterous idea's are minted on the internet.

there's about $1 trillion cash in circulation right now, the same as there always is.

they print money to replace what is taken out of circulation. where on earth did you get the idea we were having dollars printed overseas?

i have a frined in the printing business , the machines are running 24/7 and they can't handle all of it in this country the have to outsource it

[randallscott35]

Maybe this will help.

http://market-ticker.org/archives/87...-In-Mouth.html

[GBBob]

Originally Posted by randallscott35

Maybe this will help.

http://market-ticker.org/archives/87...-In-Mouth.html

He's an extreme right wing economist...you expected something else from him?

[randallscott35]

Originally Posted by GBBob

He's an extreme right wing economist...you expected something else from him?

Good luck with that. He's not right wing, he's right. Is Mish rightwing also? Oh wait, you just read morons like Krugman I guess.

http://globaleconomicanalysis.blogsp...continues.html

[GBBob]

Originally Posted by randallscott35

Good luck with that. He's not right wing, he's right. Is Mish rightwing also? Oh wait, you just read morons like Krugman I guess.

http://globaleconomicanalysis.blogsp...continues.html

Randall....I thought you were above the "moron" sh*t..guess not

[GBBob]

Originally Posted by randallscott35

Good luck with that. He's not right wing, he's right. Is Mish rightwing also? Oh wait, you just read morons like Krugman I guess.

http://globaleconomicanalysis.blogsp...continues.html

http://musings.denninger.net/

[The Indomitable DrugS]

Originally Posted by GBBob

He's an extreme right wing economist...you expected something else from him?

I'm certainly not right wing and certainly far from an economist.

Why is this not morally wrong? Why don't they just drowned the mega rich with tax increases if they want to find people to pay for the mistakes of others?

I've argued it's a bad long term move from an economic standpoint - and would have done the same if I had zero dollars.

This shouldn't be about political views. Mine are like a mix of 50% liberal, 40% libertarian, 6% Genghis Khan, and 4% Karl Marx.

[GBBob]

Originally Posted by The Indomitable DrugS

I'm certainly not right wing and certainly far from an economist.

Why is this not morally wrong? Why don't they just drowned the mega rich with tax increases if they want to find people to pay for the mistakes of others?

I've argued it's a bad long term move from an economic standpoint - and would have done the same if I had zero dollars.

This shouldn't be about political views. Mine are like a mix of 50% liberal, 40% libertarian, 6% Genghis Khan, and 4% Karl Marx.

Based on what you've posted this morning, I hope you have help digging your bunker....I get your point, but if it's not political, it sure seems to line up that way

[randallscott35]

Myopic to think any party is right or wrong.

Truth is we've needed a third party of substance in this country for a decade or more. I voted for Nader in the last 3 elections.

Good ideas can come from anywhere. I like some repubs and dems. The ones who understand that debt is what got us here and debt and taxation will not get us out.

[Cannon Shell]

Originally Posted by GBBob

He's an extreme right wing economist...you expected something else from him?

You cant simply disagree with everything because the person is "right wing". Much of what he is saying has a lot of truth and relevance. Whether or not his outlook is too pessimistic or not remains to be seen but it isnt as though he doesnt have a very good case here.

[dellinger63]

How about just outlawing all marriages as a start?