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Is the Business Insider reading Traders Crucible?

April 1, 2011

Image: Tech ticker

It sure seems that way. Because this post seems like something that I would write.

  1. It says we cannot go insolvent.
  2. It says we need to worry about debasement of the currency
  3. It says Bill Gross is talking his book.

You don’t need to go far in the archives to see this stuff.  BI, let me know if you want me to write some hard hitting articles about Mr. Gross, insolvency, and debasement. Bill Gross must be terrified of the price action in the bond market.

Plus, it appears that Bill Gross is deliberately confusing insolvency and debasement to talk his book. Anti-American is a good way to describe this behavior.

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  1. April 3, 2011 at 1:11 am

    1. That is his job.

    2. He is basically correct.

    3. It may be Anti-American, but I have a suspicion it is pro world.

    • TC
      April 3, 2011 at 9:44 am

      1. His job is to make money in the bond market, not make false statements about government debt. I’d call using the word “default” inflammatory. It is a lie from an expert, because experts know default is impossible. Conflating default and debasement is a rookie mistake, and from the greatest bond trader in history, an outright lie, highly inflammatory, and not part of his job description.
      2. He is not correct. The USD Index is still above late 2008 levels. And by default, he must mean a huge breakdown in the USD, not just a 10 or 20% decine in value against the Euro. So not correct.
      3. Being pro-world does not change his anti-US stance. And I’ve never seen any indication he gives a rats ass about the world, either.

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