I think there is a typo in the quote from Martin Armstrong. He had to be referring to the 4th Liberty Loan Gold Bonds that were sold to fund WWI. I only point it out because I have a small hobby of collecting examples of defaulted U.S. Bonds and currency (as a reminder that when the biggest debtor gets into real difficulty, the only thing certain is that the rules will be changed).
Always, always the rule changes! The light came on for me when the Obama admin screwed the GM bondholders….I remember thinking, "they can't do that"……oh, but they can…and they do…..
“What we always have to be worried about as hedge fund managers and so forth, is management that are unbelievably good at lying.” My first thought here was the "management" might as well be a euphemism for central bankers and politicians, too. They're all professionally great liars with the best rising the fastest it seems.
"With the surge of excitement as the Stones began to play"...thinking what the connection might be, if any, with the Kucinich explanation. My guess is that things are too interconnected to happen randomly. To borrow from The Boys season 4, Ep 1: We are toys for the "management's" amusement. By the way, I had to re-read the Stones excerpt twice because the story loops beginning with the above quoted sentence. Made for an interesting momentary mind trip if that's what you were going for... and, well, that's special in its own way.
This is by far my favorite Substack. Where can I send you some beer money?
"...back when Joe Biden was President."
Please use this phrase for data that happened under his watch, it needs to become ubiquitous as a reference point.
I think there is a typo in the quote from Martin Armstrong. He had to be referring to the 4th Liberty Loan Gold Bonds that were sold to fund WWI. I only point it out because I have a small hobby of collecting examples of defaulted U.S. Bonds and currency (as a reminder that when the biggest debtor gets into real difficulty, the only thing certain is that the rules will be changed).
I just checked and the transcript accurately reflects what Armstrong says (approx. 56 minutes in), so maybe Armstrong is mistaken.
I should not have doubted you. He obviously misspoke. Rudy 1 - Armstrong 0.
Always, always the rule changes! The light came on for me when the Obama admin screwed the GM bondholders….I remember thinking, "they can't do that"……oh, but they can…and they do…..
I’ll relisten and check the transcript tomorrow.
“What we always have to be worried about as hedge fund managers and so forth, is management that are unbelievably good at lying.” My first thought here was the "management" might as well be a euphemism for central bankers and politicians, too. They're all professionally great liars with the best rising the fastest it seems.
"With the surge of excitement as the Stones began to play"...thinking what the connection might be, if any, with the Kucinich explanation. My guess is that things are too interconnected to happen randomly. To borrow from The Boys season 4, Ep 1: We are toys for the "management's" amusement. By the way, I had to re-read the Stones excerpt twice because the story loops beginning with the above quoted sentence. Made for an interesting momentary mind trip if that's what you were going for... and, well, that's special in its own way.
This is by far my favorite Substack. Where can I send you some beer money?
You're too kind. You're a paid-up subscriber, I'll buy you a beer.
Perhaps in Zihuatanejo. I do hope you set up a nostr account someday. Makes tipping easy. Cheers.
Great post. Thank you! That NYCB story is going to be a very, very, very important story to watch in my opinion.