http://www.dailyreckoning.com.au/rba-4/2008/08/15/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 17:27:32 -0600 http://wordpress.org/?v=2.8 hourly 1 http://www.dailyreckoning.com.au/rba-4/2008/08/15/comment-page-1/#comment-35309 viv Fri, 15 Aug 2008 07:31:46 +0000 http://www.dailyreckoning.com.au/?p=3350#comment-35309 I wonder what all these bankers and economists smoke? Must be something really strong, they can't make out anything it seems, victory over inflation?? not until we get rid of this ridiculous monetary fiat system and fractional reserve banking! The falling price of gold and silver dont make sense either though when inflation keeps on escalating, no place to hide from inflation it seems. As the mogambo says, "we're all freaking doomed!" I wonder what all these bankers and economists smoke? Must be something really strong, they can't make out anything it seems, victory over inflation?? not until we get rid of this ridiculous monetary fiat system and fractional reserve banking! The falling price of gold and silver dont make sense either though when inflation keeps on escalating, no place to hide from inflation it seems. As the mogambo says, "we're all freaking doomed!"

]]> http://www.dailyreckoning.com.au/rba-4/2008/08/15/comment-page-1/#comment-35303 Ross Fri, 15 Aug 2008 07:09:08 +0000 http://www.dailyreckoning.com.au/?p=3350#comment-35303 They think they have more of a chance selling inflation rather than deflation. The treasonous bunnies are trying to avoid being hung, drawn and quartered on George Street. Treasury's last desperate grasp is to run after our superannuation for RMBS that is at least 40% out of the market on sustainable household income ratios. Imagine how easy the QBE sell was in getting $300 mil from the banks to cover the illiquid mortgage insurer? Can't imagine them saying no when the alternative is to shred their balance sheets. The top end of the possible failsafe haircut negotiated by QBE still fails the basic household income-debt valuation test, and that's before we go into recession. They think they have more of a chance selling inflation rather than deflation. The treasonous bunnies are trying to avoid being hung, drawn and quartered on George Street. Treasury's last desperate grasp is to run after our superannuation for RMBS that is at least 40% out of the market on sustainable household income ratios. Imagine how easy the QBE sell was in getting $300 mil from the banks to cover the illiquid mortgage insurer? Can't imagine them saying no when the alternative is to shred their balance sheets. The top end of the possible failsafe haircut negotiated by QBE still fails the basic household income-debt valuation test, and that's before we go into recession.

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