The Collapse Of The Global Marketplace Would

The Only Thing That Could Hurt Me Is If My Success Encouraged Me To Return To My Childhood Fantasies Of Omnipotence - But That Is Not Likely To Happen As Long As I Remain Engaged In The Financial Markets, Because They Constantly Remind Me Of My Limitations.

This Is The Joint Responsibility Of Everyone Who Was Involved In The Introduction Of The Euro Without Understanding The Consequences. When The Euro Was Introduced, The Regulators Allowed Banks To Buy Unlimited Amounts Of Government Bonds Without Setting Aside Any Equity Capital. And The European Central Bank Discounted All Government Bonds On Equal Terms. So Commercial Banks Found It Advantageous To Accumulate The Bonds Of The Weaker Countries To Earn A Few Extra Basis Points.

I Rely A Great Deal On Animal Instincts.

I Put Forward A Pretty General Theory That Financial Markets Are Intrinsically Unstable. That We Really Have A False Picture When We Think About Markets Tending Towards Equilibrium.

Now That I Have Called You On Your False Accusation, You Are Using Additional Smear Tactics.