Hey Big Al, comparing the “new economic system” to “Le Cirque du Soleil” is an insult
for the “Soleil” :).

On the Greek payment schedule topic… here’s a reminder – from Zerohedge a few days ago…
Rick talked about June… but check July ! Helloooooo !

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2015/05/greece%20payments.jpg

Best to all and GL investing/trading

LPG

Some of the debt can be swapped for equity under some situations.
It can be massively dilutive for shareholders… but it takes out the debt.
Martin Armstrong suggests this in some instances, if I am not wrong.

With a bit of financial engineering, there’s typically nothing that can not be done in Finance…

My 2 cts.

LPG

Al, did you go to a different system to listen? It might be on my side, just asking.

Agree w/Rick that the USD will reign because the world can’t repay their debt w/hard money.

So does that mean that QE4 is inevitable?

What ever happens with Greece Cory, at least we will be able to say we saw it coming from a mile away. It’s not like it will ever be a Lehman event with the surprises that accompany it. And in any case it has gotten to the stage of comedy since dragging on so long. Basically Greece, its debt problems and the blocks being erected by Germany’s Schauble are background noise if not an outright bore and I don’t expect much fireworks no matter which way the tide takes the story. As far as investors are concerned the only thing that matters is that the situation is resolved one way or another either through an exit or debt deal within the euro. Stability is the market preference and both situations would be positive for the Euro without regard to what happens to Greece itself. Hard hearted perhaps…but there are bigger things to be worried about and the sooner this tragi-comedy is off the front pages the sooner we can get back to more important issues.

It’s great to hear for you again Al.

Rick is one of the most astute people commenting anywhere on the markets, especially with his last remark about the Golod Standard being next to impossible because of the need to pay for energy. However, there is always the possibility of a price adjustment in gold versus oil to make that possible.

I think that is the reason why the USA originally went off Bretton Woods in 1971. It coincided with Peak US oil production and they were going to become a chronic oil importer and paying for oil imports would have it would have drained the US gold reserve to zero very quickly. Then how would you have ever procured oil to feed the military machine?

A strong day today that looks like short covering. The market should come back down after this bounce.