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Old 12-01-2011, 06:56 AM   #21
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No matter what he and other self absorbed economists say, you can't cure too much debt with more debt. Good thing for them that many of them are on the public payroll because if they had to survive on their investment results they would be dead.
That's the beauty to fulfill someone's theories or ambition with OPM (other people's money).

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There used to be a guy on here who often said, Firecalc went through the great depression with a 4% WR, how could it be worse?
This kind of reminds me of this quote from Italian movie "Pasqualino Settebellezze (Seven Beauties)": "Death can't be any worse than this!".
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Old 12-01-2011, 07:11 AM   #22
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Kyle's most recent letter to investors

Hayman_Nov2011

Here are 3 more references that I think are worth reading:

Currency Wars, The Making of the Next Global Crisis by James Rickards

Money Mischief, Episodes on Monetary History by Milton Friedman

Fiat Paper Money, The History and Evolution of our Currency by Ralph T Foster
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Old 12-01-2011, 07:41 AM   #23
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Originally Posted by TargaDave View Post
Kyle's most recent letter to investors

Hayman_Nov2011
May be just me, but when I opened it (ScribD?), it looked like it was arabic. Maybe a members only issue?
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Old 12-01-2011, 07:58 AM   #24
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To answer OP - I believe no - I live here in Germany.....I don't see them allowing themselves to bankroll the profligacy without some serious loss of financial autonomy by the PIIGS. The Germans love to visit those sunny places, however, they really love their country and the way it is organized (read as the RULES - which in one of my touristy visits I realized stemmed historically from Charlemagne setting out the rules for the way certain enterprises would work and then basically doing no-notice inspection visits all around his huge realm ensuring the rules were adhered to)......their minds just function that way from birth on - it's very easy to live here as long as you know and follow the rules.....
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Old 12-01-2011, 08:34 AM   #25
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May be just me, but when I opened it (ScribD?), it looked like it was arabic. Maybe a members only issue?
No Script was apparently blocking it in my system; by "allowing all on the page", it magically turned to English...
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Old 12-01-2011, 07:18 PM   #26
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Originally Posted by TargaDave
Kyle's most recent letter to investors

Hayman_Nov2011

Here are 3 more references that I think are worth reading:

Currency Wars, The Making of the Next Global Crisis by James Rickards

Money Mischief, Episodes on Monetary History by Milton Friedman

Fiat Paper Money, The History and Evolution of our Currency by Ralph T Foster
Thanks for posting that was a very interesting read.

The only answer to the problem is to stop building debt, or excessive economy growth. Unfortunately neither appears imminent.

Soon; Germany and other relatively fiscally strong countries will be faced with a choice: try and save other nations, or try and save yourself. I belief this is why you are seeing such resistance from Germany when it comes to a joint Eurobond; instead of going down with the PIIGS (which I believe Germans believe are beyond the point of default) Germany has made the decision to try and save itself.
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Old 12-02-2011, 05:34 AM   #27
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Thanks for posting that was a very interesting read.

The only answer to the problem is to stop building debt, or excessive economy growth. Unfortunately neither appears imminent.
No need to limit the options. Tax evasion is high in some European countries, as is the informal economy. Italy has 20% of its economic activity outside of official reach, untaxed, and substantial wealth. There is sufficient income, wealth and activity in the EU to pay this debt.

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Soon; Germany and other relatively fiscally strong countries will be faced with a choice: try and save other nations, or try and save yourself. I belief this is why you are seeing such resistance from Germany when it comes to a joint Eurobond; instead of going down with the PIIGS (which I believe Germans believe are beyond the point of default) Germany has made the decision to try and save itself.
Germany depends on those other nations as much as they need Germany. That is why they (Germany) have not turned away completely and let them (Greece, etc) fail.
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Old 12-02-2011, 07:51 AM   #28
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Germany depends on those other nations as much as they need Germany. That is why they (Germany) have not turned away completely and let them (Greece, etc) fail.
Germany depends on these countries primarily as markets for German exports--which, it turns out now, are ultimately paid for with German money pumped into their economy. Maybe the Germans will cut out the Greek and Italian middlemen and just start doing huge deficit spending in their own economy. If they revert to the Deutsche Mark they could even print a bunch of extra ones in case they run short. In this regard, maybe the Germans can learn something from the US. Why ruin your economy to artificially prop up standards of living in another country when you can ruin your economy for the temporary satisfaction of the locals?
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Old 12-28-2011, 06:39 PM   #29
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Here is a link to the most recent Kyle Bass interview in 2011 at Americatalyst I personally find these interviews very interesting.




Here is the Black Swan of Cairo paper he refers to in the interview:
http://www.fooledbyrandomness.com/ForeignAffairs.pdf

And here is a link to the book "All the Devils are Here"

http://www.ebooksdownloadfree.com/Bu...l-BI16844.html
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