I had a couple of ideas this week for the Sunday Collage.
"Ubi libertas habitat ibi nostra patria est" [Where liberty dwells, there is my country]
I have been glued to this Cyprus bankruptcy deal. Stealing peoples' money always fascinates me. Late last night, the bankers decided to steal 40% of all deposits in excess of 100,000 euros. The banking troika then extended Cyprus another 10 billion. Germany's leader hailed the bailout as a great thing.
Stealing money from the rich is all the rage right now. And so... the grand banking fraud continues.
I watched the market go up and metals sell off this morning. That activity has since reversed. The dutch prime minister is now calling Cyprus the blueprint for how the rest of the eurozone should conduct business.
So let this be a warning rich bastards. Don't make money. It's evil and they'll just take it from you anyway.
A great analogy was drawn this morning about Cyprus and the United States. A floor trader stated that our government and the Fed have been taxing and stealing money from US "savers" by reducing interest rates to zero for the last four years. The trader saw no difference between Cyprus stealing customer savings accounts and what the US has done. Same thing he contends.
On that theme- the government is still trying to tax internet sales. They are also questioning Lichtenstein bankers and trying to find US tax dodgers there. You almost get this feeling of desperation as you read the news. Like maybe our government is broke.
JP Morgan, the government's bank, is still in the news for all of the crooked shit they pull.
The state of Texas has announced this morning that they are considering building a gold repository. That kind of forward thinking is enviable. Texas even talks about seceding from the U.S. from time to time. If it did, I would move there in a heartbeat.
Gonzaga got taken to the woodshed and was the first number one seed to get ousted from the NCAA basketball tournament. Nobody was less shocked than me. Every time the catholics get in, they make a quick exit. I have a good friend, a huge Gonzaga supporter, who has suddenly gone missing. He is not even answering texts.
Lasalle whipped Boise St to get in the tourney and they are kicking some ass. I really thought Boise St. was a better team and had a tougher schedule but LaSalle is proving that they are very good. I think they might even get in the elite eight but I can't see them in the final four.
So my apologies. I have plumbing to fix and I think I am going to play golf and ride my motorcycle this week as temperatures rise to 70. Gold and silver have almost totally recovered from their losses as I write.
Google trading for 820 bucks, Whirlpool at 117 a share...how can you miss?