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1/ So, if I'm a corporation deemed eligible to participate in the new PMCCF, I can technically borrow money at zero interest without ever having to pay back principle, forever? That's not a loan. It's a gift. federalreserve.gov/newsevents/pre…
2/ Meanwhile, the Term Asset-Backed Securities Loan Facility (TALF) is being revived "to support the flow of credit to consumers and businesses," but only if we borrow against good collateral, which the government can presumably seize if we don't meet our interest payments.
3/ Not surprisingly, large corporations (presumably international ones as well) can help themselves to our money while we have to pay them not to foreclose on us. Why does this feel so familiar?
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Demetri Kofinas
@CoveringDelta
1/ This is an excellent take on a broader phenomenon that I've begun to refer to as "market nihilism," a philosophy that treats objects of speculation as though they were intrinsically worthless. ft.com/content/8732e8…
2/ The idea that prices can diverge from fundamentals or that fundamentals no longer matter is not new; it's something we often see during the late stages of a bull market. What appears unique about the present moment is the indifference with which investors are pricing assets.
3/ We see price movements characteristic of a raging bull market without the accompanying euphoria. "...all that remains," as Jean Baudrillard writes, "is the fascination for desertlike and indifferent forms, for the very operation of the system that annihilates us."
Read 11 tweets
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Demetri Kofinas
@CoveringDelta
1/ Listeners to @HiddenForcesPod have asked me to put together a reading list on various topics. I've started by compiling one for those interested in markets, economics, & investing. The list consists of 119 books of history and financial theory. patreon.com/posts/32588884
2/ There are also many books that arguably should be included in any list dealing with markets & the economy but which I chose to leave out (e.g. The End of Economic Man, The Great Illusion, etc.), because they will be included later, in a different list.
3/ Inevitably, there are books left off that should be included, either because (1) I forgot to add them or (2) haven't read them (e.g. "Das Kapital"). In other instances, I've deliberately chosen not to add a specific book precisely because I read it and didn't find it valuable.
Read 6 tweets
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Demetri Kofinas
@CoveringDelta
1/ "It’s strange that some of the greatest musicians were self-taught or never learned to read music. I’m not saying one way is the best, but I get a lot of students from schools that are teaching jazz, and they all sound the same. They don’t seem to find their own voice. (cont.)
2/ I think when you’re self-taught you experiment more, trying to find the same sound in different places, you learn how to solve problems…I could show somebody in two minutes what would take them years of screwing around on the fingerboard like I did to find it. You don’t...
3/ ...know what’s right or what’s wrong. You don’t have that in your head. You’re just trying to find a solution to problems, and after fifty lifetimes, it starts to come together for you. It’s slow, but at the same time, there’s something to learning that way.” — Jack Cecchini
Read 8 tweets

Related threads

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M. Mendoza Ferrer
@m_mendozaferrer
NEW: Nepotism at Burlington College

Serious questions must be raised about how Jane Sanders got a 72% salary increase over 6 yrs at Burlington College as well as how she funneled $100ks of tuition dollars to her daughter's and a Trustee's son's businesses:
As President of Burlington College, Jane Sanders quickly appointed Jonathan Leopold to the Board of Trustees. Leopold had served under Bernie Sanders as City Treasurer of Burlington, VT in the 1980s. He soon became CAO of the City of Burlington.
Leopold's tenure on Burlington College's Board of Trustees highlight some glaring ethical issues:

1) Why did Burlington College start supporting two brand new for-profit businesses owned by both Leopold's son Jesse Leopold and Jane Sanders' daughter Carina Driscoll in '09?
Read 24 tweets
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Kerichh
@kellrichh
1/ We are at a pivotal point in time where it is CRUCIAL to awaken to our Rights, by arming ourselves with knowledge regarding widely unknown history of America & Corp. USA, as well as natural & man-made law. This reposted thread is long, but critical info:
2/ Follow the money and you will find the facts. So, before we begin following the money, revisiting our rights and liberties as sovereign beings, understanding laws, or getting into the establishment of Corp. U.S - we have to start with some basic history.
3/ "On the Fourth of July, 1776, the 13 independent States of North America united in a Congress, through their plenipotentiary delegates and signed the Declaration of Independence.
Read 190 tweets
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Penny Midas Rollo
@PennyMidasRollo
001/ [article content in this tweet series 001-180 reproduced with permission from Martin Howe QC of Lawyers for Britain @lawyers4britain]
#quote "Leaving the EU on WTO terms: pulling down the barriers to world trade
Introduction: why prices will FALL after Brexit, not rise" /002
002/ #quote "Over the past couple of weeks, the media have been full of lurid scare stories about what will happen if the UK leaves the EU on WTO terms, because negotiations with the EU do not result in a withdrawal agreement." /003
#tariffs #NoDeal #Brexit #WTO #ProjectFear #shortages #food #medicines
003/ #quote "One of the most ridiculous and UNJUSTIFIED of these absurd scare stories is that it will lead to higher prices, and even shortages, of foods and medicines." /004
Read 180 tweets
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Techno Fog
@Techno_Fog
New: Transcript of Paul Manafort's oral argument.

Preview: discloses Manafort's 2014 interview with the FBI where he told them he received $27 million in foreign income.
Starting out, we see a theme for their case: Manafort didn't "willfully or intentionally deceive or mislead the IRS about his income or about any foreign bank accounts"
How does Manafort explain the offshore accounts in Cyprus? And how he didn't control those accounts?

This was how the Ukrainians wanted it to be done.
Read 16 tweets
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Bello Ibrahim
@MrBelloIbrahim
This is long read but it's worth the read.

Written by Jude Idada:

The Taxify driver showed me a big black welt on his neck.

It ran around his neck.

Blueish black.

Swollen.
He told me that in October he had gone to a real estate agency on Allen Avenue to pay for six plots of land in Lekki EPZ zone.

Twenty four million plus naira inclusive of all charges.
It was the balance of the money he had saved during three years stay in Germany and had brought back with him.

He had imported five cars from Germany into Nigeria.

He gave his parents one. His wife the other. Sold two. And was driving one.
Read 72 tweets

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#repatriation #SelectCommittee #Mumbai #HumansRuinEverything #EUBudget #delusion #agreements #product #importing #economy #chains #price #Barr #NEW #EUWithdrawalAct #billions #tobacco #tariffs #spin #ECJ #MFF #Continental #Mathematics #Correction #manufacturers

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