To John

by Kim Itae

  1. They don't have to Yellen that often. (simply not glamorous whatever she says)

  2. Fed up = sick of fiddling with a word

  3. I-knew-it kind of attitude

  5. 18tn debt. Game over.

  "Hit and Run."

  20 Mar 2015

  "Morning John, do you know what is going on with emergency measures for debt limit? 5th day already. Pensions for the old and the disabled. And what else did the US government shut down?"

  From KCIF

  'FOMC March, less likely to raise the interest rate, dollar is getting slow down and encouraged investing psychology.'

  'So, strong dollar has been preventing investment in US? Of course. If you invest money in US industry, there will not be that much you can get later. So why invest in US?'

  'Was is Loosebelt Franklin who saved America from the Great Depression? New Deal policy? Built a whole new industry? US need a new industry as shale oil industries, weapon industries and NASA are dying. NASA sold its airport to Google, dear. 80bn. Hang on. If you sell the whole NASA, how much can you make? You can start a whole new life, even after paying the debt, no cierto?'

  'What's the point of going to Mars if you have a sovereign default? Sell NASA.'

  "John, what's up?"

  "Something split."

  "You mean schizo?"

  "Possible..."

  "Welll... at least schizo is better than a mad dog, no? Not infectious, I mean."

  'If US break another war for their economy, they will be punished. God.'

  'On March 6, 2015, public debt held by the public had reached $13.08 trillion or about 74% of Q4 2014 GDP. Intragovernmental holdings stood at $5.07 trillion, giving a combined total public debt of $18.15 trillion or about 103% of Q4 2014 GDP.

  People's Republic of China and Japan at about $1.3 trillion and $1.2 trillion respectively = 2.5tn' (Wikipedia)

  'Who is holdoing the rest of debt? A mystery... The amount of the debt is at the level between War and recession.'

  'Oh no... I can't believe that Fed took over FF(Fannie Mae and Freddie Mac). Decision by FHFA Director Lockhart, the regulator of FF and the 12 Federal Home Loan Banks.'

  'What happened to 12 Federal Home Loan Banks?'

  '12tn debt has to be explained. One and a half year ago, the debt was 3tn. Now 18tn. Ok 6tn is hold by foreigners. 12 tn is owned by Americans? Who and how? Lockhart said FF presents very large systemic risks. And Fed took it over. Is this why they did Moonwalk the other way? Way above the earth? Or no way on earth? Incredible...'

  'FF owned or guaranteed $5.5 trillion of mortgages (57% of all US mortgages). FF went wrong. 57% of all US mortgages went wrong... Fed took it over. Also what happen if the mortgage company got busted? And Fed was fiddling with the interest rate? Fuck off.'

  'So shitty. I cannot summarize this. I do not want to summarize this kind of shit.'

  '12 Federal Home Loan Banks are owned by over 7,500 regulated financial institutions from all 50 states, U.S. possessions, and territories.'

  All quite fucked...

  Because they are the creditors of 12tn debt of the US government. So, if the government go bankrupt, they are the ones to go with the US government. Not China, nor Japan or any other foreign bodies. If they go with the government, what will happen to the home owners who got the mortgages either from FF or FHLB? 60%, apparently. If I have a mortgage from a bank, and that bank go busted, what will happen to my mortgage and my house? I will still pay the interest rate or repayment as usual to whoever will take that bank.

  Is this why Fed wants to raise the interest rate? They took FF even the raised interest rate will endanger the whole economy into another bubbles or recession?

  Hang on. The whole thing sounds so funny.

  1. The debt of US gov became 18tn because Fed took FF.

  2. Why? Because mortgage borrowers could not pay the debt.

  3.Why? No jobs.

  4. Is recession already started and serious in US?

  If China or foreign banks take over these, will Americans pay the mortgage to them? The Death Pledge? Is this why US failed Deutche and Santander the other day? They knew what is coming?

  "John, shall we shut down the shop?"

  "You can if you want. Do you fancy going to Fez club tonight with me?"

  "Will you snach me off from the stage if I dance with some other guys?"

  "Nah... why would I do that?"

  "Okey then."

  Today's key point: Fed took over Fannie Mae and Freddie Mac.

  Conclusion: $12 trillion debt is largely part of domestic home loans.

  'If there is anybody out there playing this game, I have one question. Is your house ok? If you work for a company, does your company guarantee your house? No. It's not a good question. Is your house ok? I mean, is your mortgage ok? Where did you get your mortgage from? If you got it from Federal House Loan Banks or Fannie Mae and Freddie Mac, move asap. Your house is not safe. It's exactly like drones. You don't know how you got hit or your family got hit. You just got hit. Sudden noise. Pain. Sticky. Dark. Cries. Blood everywhere. All hell it was. Your 2 year old girl lost her head. You called Allah. You called me. I am using this human body called Ana. You called me from 9th heaven. I came down and saw. So, if you can see me now, follow me. Think. How can you see me? How could you find me? Remember?'

  Ana shook her body. She felt so cold. She saw what she wrote. She decided to leave it there. Funny. Automatic writing. Do you call that? Ana shook again. Her body was shaken by something.

  'Are you going to church like your president? Ask the priest whether he or she has ever seen a god. Tell him or her that you saw a god. Tell him or her about the mortgage. Tell everybody that you should move quick. Next week.'

  Ana shook her neck as if she became a robot. It feels like there is a monster in her body. The film. The exorcist. Not 180 degree for god's sake.

  "John, I'm ready for the Friday night clubbing."

  "Sophia, Dress code: black & net stocking, 6 inch high heel."

  "Sure. About hair style?"

  "Volume up?"

  "Cool. It might take time. What about just straightening?"

  "As you like. Girls have no problem. Only boys. They think dressing is not important. Then, they are the ones who got rejected at front."

  "Ana, Friday night. Off duty, no?"

  "You are right. They can watch Man United vs Arsenal at a near pub. Who cares unless they would like to join the clubbing?"

  'So strange. There is no news about the emergency measures...'

  From UPI

  'The U.S. Treasury is getting ready to start manoeuvring to keep the federal government from defaulting on its debt on Monday(16th Mar)'

  7 days ago...

  Maybe my understanding of the system is wrong. What does defaulting mean as a government?

  From Wikipedia

  'when a government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt.'

  'bond repayment?'

  'What on earth they are hushing up this matter? Weird... Defaulting is not such a big thing as it could happen 4 times in a raw? Immuned?' Can you get immuned with sovereign defaults? Amazing.'

  21 Mar 2015

  From KCIF (Korea Center for International Finance, the quickest source)

  'PIMCO(Pacific Investment Management Company, headquartered in Newport Beach, California) the biggest uneasy factor for US economy is strong dollar.'

  'Ah well, if PIMCO says so...'

  "John, what are you doing today?"

  "I'm cooking some pasta for some American friends. They said they need something warm and nice. They got so upset..."

  "Ok. I will cook some Shabu Shabu with Enoki."

  "What is Enoki?"

  "A type of mushroom. Quite different from Chinese black mushroom. Anyway I'm going to go to Korea to see my grandparents in August. Do you want to come with me?"

  "Four
months to go... Thank you. I will feed them up and see what they will puke up."

  "I need strong pound, so I can have a nice shopping in Korea. I mean it. My grandparents will definitely ask me the following

  1. How much I earn a month

  2. Is Henry's company ok

  3. Is Henry still going to work every day"

  "John, I do not mind whether Sarah or Susan would come with you."

  "Sorry, it's Susan. No, it's Sarah. Sorry, I am not sure. But I will come."

  "Shall I get you some summer shirts?"

  "Sarah or Susan would do that. Thanks."

  "Do you mind if I talk to them?"

  "I do mind."

  "Ok."

  22 Mar 2015

  "From tonight, you might hear my voice. Do not get startled or do not think you are having auditory hallucination. The voice is trasferred with the visual, let's say, like television. The thing you will hear will be very simple, nothing personal. Testing, let's go and out. That's all. We all move in a same way and a same direction. We will wipe out whoever gets in our way."

  "John, what are you doing?"

  "Dozing off. Those Americans. They got nothing. Just panicked. They tried to find a way out without being caught. It sounded like an old Soviet Union. We drank too much."

  "Ok. Do you want to hear my voice?"

  "Later. I will be in touch around 9 when I am sober. Would that be ok with you, Ana?"

  "Sure. I would like to know whether my voice is sexy enough. I mean sexy."

  "Did you mind the noises?"

  "Once done, it's done. I will not repeat."

  "Fair enough. I don't care whether it's sexy or not. It will work. If it will not work, you should do it again and again."

  "Are you what? My coach? By the way, did you enjoy the rugby last night? Fun, was not it?"

  "Yeah..."

  4th Week March 2015

  23 Mar 2015

  US Fed swallowed a big bubble called Fannie & Freddie. If it does not throw up, it will get choked. Very natural consequences. Look into the actual cause of choked death. It's the gas. I will check it later.

  'Fed's lift off is to destination unknown.'(FT)

  Fischer? He has no tongue.

  "Carl, is life in New York good?"

  "I am living here. Why do you ask me that for?"

  "Fannie & Freddie is the biggest market mystery to me. Scary though... Where did you get the loan from for your house? By any chance, did you use federal banks? Out."

  24 Mar 2015

  Liquidity Crunch

  What did Fischer guarantee about the currency policy? Nothing that anyone can guarantee. No one can guarantee anything in this situation. Am I right?

  "John, use MACD. Tick M30 only. You might have some fun."

  "Sorry, not M30, H1 only."

  Ana felt weird...

  'Something bothered me all day. I did not realize what it was. I might be wrong. But I guess that was the last time I went there. I can not go back there again. I am sweating like a hell.'

  25 Mar 2015

  'Credit crunch is something to do with Properties. Liquidity crunch is something to do with Business or Companies.'

  The following can be summarized later.

  'In the case of a credit crunch, it may be preferable to "mark to market" - and if necessary, sell or go into liquidation if the capital of the business affected is insufficient to survive the post-boom phase of the credit cycle. In the case of a liquidity crisis on the other hand, it may be preferable to attempt to access additional lines of credit, as opportunities for growth may exist once the liquidity crisis is overcome. '(Wikipedia)

  'In case of CC, investors went busted. In case of LC, companies go busted.'

  'Like 20 Mar, even dollar got weakened, US company stock still fell off rather than rebouncing. For example, Amazon could not get up. It looks more like crawling. No need to check Exxonmobile. That's dead.'

  'Additional lines of credit. Which bank offers credit with lower interest rate? How is US regulation to allow it? When I worked in Chile, Daewoo used Santiago branch, as an independent foreign cooperate body. Endless dinner parties with Chilean politicians though....'

  "What did it taste like, those raw bucks, John?"

  "Spasmic."

  "You mean tangy?"

  "No, spasmic. Very spicy, painful and delicious."

  "Do you want some salad?"

  "Why not. It was lunch. I am hungry again."

  "Ok. Caesar salad. Serves 4?"

  "Ja..."

  "1 g, 2 a, 5 tm, 1 tv for the dressing."

  "Will you feel like Caesar if you eat Caesar salad?"

  "Well... it depends what it tastes like..."

  "Just tell me it's nice. Otherwise I will not cook for you."

  Four hours later...

  "Now, the salad is done. It's up to you whether you eat it or not. But, if you eat it, you have to behave like an emperor. You are in charge. No one else. Only one emperor."

  26 Mar 2015

  'EU Capital Markets Union'

  'DJIA -1.62%, DAX -1.17%'

  'US semiconductor and biotech shares sliding more than 4 percent'

  "Just look at the last silver bar on M1 scale. Particularly when the bar crosses with the red line, I guess, that's the point to get in for either up or down. Am I right, John?"

  "Quite but do not forget your breakfast and snacks. Ok?"

  28 Mar 2015

  'The dollar resumed its rise against the euro today, after a weeklong Fed-induced selloff. The strong dollar and falling oil prices are being blamed for the dip in corporate profits.' (Reuters)

  'Question: why is low oil price not good for US economy?'

  'Answer: US sells refined oil at high price. It's one of their main product. Refined oil, missiles & MS OS. The current oil price is a stich up price. Monopoly.'

  'How?'

  '種瓜得瓜요 種豆得豆니 天網이 恢恢하여 踈而不漏니라

  종과득과요 종두득두니 천망이 회회하여 소이불루니라

  If you plant cucumber, you will get cucumber.

  If you plant bean, you will get bean.

  Sky net is wide and wide.

  Loose but no leak.'

  'It sounds like purse-seine and trawl method.'

  'Skynet project is a Chinese government project to sort out all the corruption related to foreign investment.'

  'Wang Qishan is the chief officer and the economist. Did he visit US yet? Even a sprat cannot escape his net, I heard. He became vice premier.'

  'Jesus, did China back up Obama?'

  https://www.youtube.com/watch?v=RtZpUlSwWbY

  'Obama was made by China. The purpose of Wang's visit to US this time is to whip American politicians, not Chinese.'

  王志王岐山

  'Wang Qishan of King's will. The nick name of Wang Qishan is King's will.'

  'Why did I get the impression that now US is subject to China?'

  '1. The debt 2. The personal debt(favor) 3. If China sells the US 10 yr bond(note), what can happen?'

  'Did I get the wrong impression?'

  29 Mar 2015

  'We will get what we want, not what we need.'

  "What do you want, John?"

  "Top Gear."

  "Me too."

  "Did you sign in?"

  "What?"

  "The petition."

  "How?"

  "https://www.change.org/p/bbc-reinstate-jeremy-clarkson J and Chrome Autofilling. That's all. And you know what? That Danny shit. He sacked Jeremy. So he can sell the format. Pack and leave shit. Mark Thompson did it too with Jonathan Ross. But this shit is a Jew, you know. They are quick. I bet if you check the list of his properties, he got one in LA already. He is a clever sod. Even in Wikipedia, there is no early life of him. Sod it. Check his father in law. There is something fishy about it, you know?"

  'The reason Danny Cohen sacked Jeremy, is, that he like to show the strength of the format to his customers whoever the prese
nters are. Contents or formats, you can sell. He cannot sell Jeremy. He only can sell the format. He did not check the opinion of foreign buyers. Why do they want to Top Gear? Why do people in other country like that program? The format? Forget it. Personalities. Like stars and idols. This Cohen has no idea about culture or phycology. Hope BBC will not make another mistake. Now, I understand why the program called the voice has been bothering me. Something unnatural, the judges are not themselves. Something yucky. I like to hear some voices even the format is such a crap.'

  'His wife is called Nigella Lawson of economics. Will he choke her one day?'

  "Ana, shall we count it before the market is open? Do you want a bet?"

  "Sure, 1,050,830."

  "Well, I go for 1,050,900. See you at 10:00."

  'If there is no fun in the program, that's the end of the program. I am talking about a program called the Voice. The essence of show business before even thinking about a business is a fun, emotional resonance. That's why people pay so much money for it. Our heart needs pleasure to relax. No one can cheat or fake it. Out heart has perception prior to our brain. Our prime intelligence came from our heart not our brain. This is not a metaphor. This is a physiological fact.'

  "I think I win. A tenner as usual."

  5th Week March 2015

  30 Mar 2015

  'Dead line of application for AIIB foundation membership. Tomorrow.'

  'Another dead line tomorrow. Iran negotiation.'

  'Combo of capital & oil.'

  From KCIF

  'Capital exodus from America because of confusing financial indicators: GDP & Michigan indicators are contradictory.'

  'Which one is cooked? It does not matter. Three in one. That's what matters. Low currency, Low oil price, Low interest rate. 3 Lows for a Boom Boom Pow. Strong dollar is a killer for USA. Then strong dollar is good for countries who export to USA. Yap.'

  'Then again, what happened 2008?'

  'Anyway, what happened to Google just a year ago? The stock price fell into half in a day. If that kind of thing happened and the stock price did not recover, there is something very wrong with the company. If I invested in that company, I am out. Hell, no.'

  'Well... Theory is a theory. Thanks to 2008, new economic theory has to be made.'

  "John, shall we go back to H1 MADC?"

  Ana was doing the usual things. She opened facebook chatting box to ask someone a favor. Then, she saw Yuki. He is dead. He is still there. She thought it's so unfair. Can they erase at least dead people's profile? She got stunned. She couldn't do anything. She felt like a stone. Paralyzed. Not sad. She could not move.