IF you’re like me, you’ve done all of the above, although my family has gotten wise to buying me ties over the years, as I still have a bunch of ties from Fathers Days past hanging in the closet with the tags on them. I’ve found that its easier to just keep them in the closet, so you can say you love them, and you’re waiting for a special event to wear them. The alternative, giving them to my Polish housekeeper, blew up in my face a couple years back. You see, my mother in law shares the same housekeeper, and when she was showing my mother in law some photos of a family wedding back in the homeland, it seems the ties that I had emptied out of my closet and gifted to my beloved Housekeeper Josephine showed up on a number of her relatives. One mans junk is another mans treasure, and the ties looked a heckuva lot better on the Polish Wedding guests than they would have on me. I must admit, I was embarrassed, but not as much as Dustin Johnson. This cocky cat teed off in yesterdays US Open with a 3 Stroke lead, and proceeded to go 6 over through the first 3 holes.
I personally enjoyed my Fathers Day, and I hope you did the same. The other joy of this Fathers Day (aside from the golf shirts, bad ties, and pre-k cards), was that this year, Fathers Day fell on June 20, which just happens to be my Mom’s Birthday, so it was a double treat. Happy Belated B-Day to Patti Fresh as she’s affectionately known by many.
Emptying the Bench
Usually, when the game gets out of control, one of the coaches (or sometimes both) starts to empty the bench. This term usually refers to the winning coach putting all his benchwarmers or scrubs in the game to reward them with some playing time. Or, the losing coach throws his bench warmers in to possibly turn the tide. In either event, when you see the alternates start to get playing time, the game is usually out of hand. Just look at the Swiss win over Spain last week in the World Cup: as Spain was being embarrassed bit the Swiss, Spanish manager Vicente del Bosque did just that, he emptied his bench to play all his reserves. To no avail, Switzerland won 1-0. Well, this week the Russians and Chinese have renewed their calls for the World Bank to start emptying the bench. The reserves in question in this case are not the lonesome losers typically riding the pines of a sports team. No, no, the reserves in this game are the currencies of Russia, China, and India. Yep, with the US banking problems being sold to the US citizenry as on the mend, our pseudo friends abroad are pushing ahead with plans to replace the US Dollar as the World’s Reserve Currency. That’s a very bad sign. As it stands right now, Global Banks hold their Reserves in US Dollars, and this gives strength to the Buck. The demand of the global banks to keep reserves in US Dollars is one of the things that keeps the good old buck as the worlds favored currency. Problem now is, the Chinese and their Communist Comrades in Russia have decided that it’s about time that the World stop using Dollars as the Reserve Currency, and they are proposing that the Words Reserve Currency is switched to a Multinational Currency. In fact, the diminutive dynamo Dimitry Medvedev has even minted this new currency. Calling it the “United Future World Currency”, Medvedev unveiled the new coin, recently minted in Belgium, at the G-20 summit. Earlier this year, our Chinese Loan Shark called for the creation of a Supranational Currency, while questioning the Dollars future.
The proposed new Global Currency is the first step in the creation of a new world order, and the Chinese and Russian have recruited India one of the worlds fastest growing economies to join them in this new endeavor. Imagine the disaster if the world banks stopped wanting or needing US Dollars to hold in Reserve, and all those extra bucks were floating around homeless. The destabilization of our currency and our economy would cataclysmic, and when asked about the possibility of this last year, Treasury Secretary Tim Geithner proudly exclaimed, “I’m open to the idea”. OUCH. Look out folks, the rumblings are out there, China is now playing with their currency, Russia wants the Ruble to re-emerge, and India sees a big future for the Rupee. All this spells bad news for the Buck, and it all points to a whole new bunch of reasons to be long GOLD. Earlier this year, the organization which receives the bulk of its support from the US, the UN, published a report calling for the replacement of the US Dollar. They further called for the creation of a global reserve bank and new currency “to protect emerging markets from the ‘confidence game’ of financial speculation.” And, on the heels of that ringing vote of confidence from the UN, Remember these words from Medvedev, “we live in a unique time, and it should be used to build a prosperous Russia, a Russia that will be a co-Founder of the NEW WORLD ECONOMIC ORDER.” Any departure from the US Dollar as the worlds reserve currency will have a catastrophic effect on the US economy. Beware. The sausage is being made. HOT SHORTS
The contest to get users to send in photos of hot chicks in hot shorts has not had a great response but the shorts which we continue to highlight here at the very bottom of the Blog each day have demonstrated some great performance.
The shorts have been a bit more cautious lately (although Friday’s hot shorts would have gained you +1.06% open to close) and the volumes are down overall so the ability to sell and size into this recent rally has been diminished. But fret not my bearish brethren there is still red meat out there, and I have never been more bearish than right now. If you’re gonna make a bet, make it a bearish one, and make a it a big one against banks, and housing. The Double dip is coming, and the housing crisis will be negatively affected by the continuance of the Employment Crisis, this will cause US Banks to post additional reserves in accordance with the Treasury Stress Tests, and the need for additional capital will sap any capital the banks have currently hoarded on their balance sheets causing another downturn. I don’t know it for sure, but it seems pretty easy to see. TODAYS HOT SHORTS:
DEAR PNX ME EP FTR
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