Bailouts | timiacono.com - Part 5

End of the Road

Before stumbling upon the trailer, I hadn’t heard anything about the upcoming documentary End of the Road by Tim Delmastro, but, it appears to have real potential, what with the growing realization that all the bailout efforts from a few years ago simply kicked the can down the road and that, someday, that road will come to an end.

The film is basically a compilation of interviews with eleven individuals, most of the names being familiar to readers of this blog including G Edward Griffin
, Jim Puplava, James Turk, Jim Rickards, Peter Schiff, Eric Sprott, and Bill Murphy.

My guess is that the Federal Reserve, fiat money, and gold come up quite frequently.

Kyle Bass on CNBC

In a CNBC video that, apparently, had such demand earlier in the day that it was impossible to watch (at least I couldn’t), Kyle Bass of Hayman Capital talks about the inevitability of a breakup of the European monetary union.

He’s also not very hopeful about China as he discussed with BNN (see here and here).

BTW – Is it just me, or are those CNBC sound effects when they change charts just silly?

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Europe a Preview of Debt Crisis in the U.S.

Former Kansas governor Mark Parkinson appeared on CNBC yesterday and made the point that you don’t hear too much anymore these days with European credit markets being such a mess – that the U.S. will someday have a similar crisis.

Unfortunately, with the election season now well underway, officials in Washington are not likely to take any action to make the looming U.S. debt crisis any less menacing, in fact, with borrowing rates so low for the Treasury Department, you get the feeling that we’re whistling past the graveyard louder than ever.

Ambrose Covers the Debt Crisis

Ambrose Evans-Pritchard of the Telegraph has been writing some of the most colorful, alarming, and (as far as I can tell) prescient commentary on the latest developments in the two-year old, credit market saga better known as the European sovereign debt crisis.

Last week’s Better a horrible end for Euroland, or endless horror? offered the imagery shown to the right when it appeared at his blog where, presumably, there are less strict rules on decorum than in the newspaper.

That’s Ambrose on the left.

Friday’s blog entry Europe’s blithering idiots and their flim-flam treaty attracted nearly 2,000 comments, so, clearly, as far as generating discussion, he’s doing a very good job and an opening line such as “What remarkable petulance and stupidity” does little to make readers think that they’ll be disappointed upon reading further.

Three entries yesterday for the print edition of the paper are more reserved, but not much:

Links to all his work appears at this page at the Telegraph and it provides a good diversion from the coverage provided by the mainstream media that rarely includes any pictures from Lord of the Rings, though I’m guessing that Balrog (as Germany) would be a better metaphor for what’s been going in Europe lately.

[BTW - if the image above is not from Lord of the Rings (which I wasn't able to verify), try not to let that distract from the significance (and light humor) of the Balrog comment.]

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