LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
The IMF and the ECB on Perfecting Stupidity

By: Richard Daughty, The Mogambo Guru - The Daily Reckoning


-- Posted Tuesday, 14 December 2010 | Digg This ArticleDigg It! | | Source: GoldSeek.com

This week’s winner of the coveted Mogambo Bluster And Incompetence Award (MBAIA) goes to Dominique Strauss-Kahn, the Managing Director of the International Monetary Fund.

I will skip the part where I heap disdain on the IMF and say rude things like how I think that the IMF is a worthless bunch of incompetent, self-serving, socialist scumbags.

And I will skip the part where I tried in vain to get in touch with this IMF moron so that I could inform him of his winning the prize, and invite him to fly here, at his expense, to pick it up.

So he won’t be coming, and it is too bad, too, because I already had the trophy, which is a plastic item molded to look like a pile of dog-poop, which I thought was both highly appropriate to the award, and very cheap, too, as I already had some left over from Halloween when I put them on the porch to discourage kids from coming up and knocking on my door.

I figured that this “mine field” would discourage them from bothering me with their lame “Trick or Treat” routine, holding out their sacks for me to fill from my bowl of delicious candy, a cornucopia of yummy chocolates, nuts, nougats, peanut butters and caramels in a kaleidoscope of tempting colors and flavors, and all mine, mine, mine.

Instead, I will get right to the part where I explain why Mr. Strauss-Kahn wins this prize.

According to Bloomberg, Mr. Strauss-Kahn, who will hereinafter be referred to as Incompetent Blustering Bozo (IBB), said that (and I quote) “the European Central Bank is doing its job ‘perfectly’ in handling the region’s debt crisis”! Hahaha!

How could he not win? Hahaha! And now that the sheer incompetence of the ECB has succeeded in destroying the entire economy of Europe with its ridiculous monetary excesses to allow the funding of various socialist bunglings, you probably want to know, as I wanted to know, as all thinking people want to know, “What in the hell is the ECB doing so ‘perfectly’ that another laughable incompetent is compelled to comment upon it?”

Well, it’s funny you should ask, and personally satisfying that you should ask with such a rude and scornful tone to your voice, because the ECB said that the bank would leave its benchmark interest rate unchanged, which is now at approximately zero, and “will delay its withdrawal of emergency liquidity measures to combat ‘acute’ market tensions.”

Hmmm! “Combat acute market tensions.” The phrase kept going over and over in my mind, as I intuitively sensed something potentially useful in that phrase. “Combat acute market tensions.”

Sure enough, the next day – the very next day! – my boss calls me into her office and wants to get all huffy with me, partly about how I am “accosting” my coworkers and telling them that they are “stupid” for not buying gold, silver and oil as protection against the terrible inflation in consumer prices as a result of the Federal Reserve creating so much new money.

Mostly, however, she was “in my face” about how I keep losing money for the company, which I patiently explained was not my fault. It was, I explained, the fault of all my customers, who were all idiots, and all my staff, who were idiots, too, and who were always hatching their little schemes behind my back, undermining my authority and making me look bad as they plot to thwart me at every turn to turn my successes into failures, like I can’t hear their constant secretive whispering, or see their furtive scurrying around, like the treacherous little rats they are.

My boss is not convinced, of course, and so, in a flash of inspiration, I said, “The company must pump more money into my operation to combat acute market tensions, you moron, like the European Central Bank is doing, because the president of the International Monetary Fund said that to do so would be perfect! Perfect!”

Well, it might be “perfect” for the ECB and the IMF, but around here it’s a non-starter, and after a short discussion about who is the REAL moron around here (me), I was pretty discouraged.

On my way back to my crummy little office, I suddenly realized that things were not so bad. I still had a plastic pile of dog poop as an asset, and I had the Federal Reserve creating massive amounts of money, to make the inflation, that will cause my gold, silver and oil to go up, which is another asset, and one that will soon make me rich enough to quit this stinking job and get away from a stupid boss that can’t see a Fabulous Mogambo Plan when she sees one.

And I also remembered that buying gold, silver and oil stocks is so easy, and suddenly the dark clouds of despair were lifted, and I merrily thought to myself, “Whee! This investing stuff is easy!”


-- Posted Tuesday, 14 December 2010 | Digg This Article | Source: GoldSeek.com


Visit The Daily Reckoning's website.



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.