We love you crypto folk.  Thanks for your transformational attitudes about the separation of church, state and money, and y'alls undying love, carrying the torch for the ethereal Publish0x!!

Tradfi corruption watch - 1.8 BILLION dollars in CFTC Wall Street fines for not being "able" to find text messages sent by brokers.  This sounds bad, and it is, but it's really much worse, lol.  For example, many desks are required by law to record and keep  every freaking phone call made from the desk.   So much money is spent on THAT IT exercise, it's quite humorous that Wall Street would just pretend to forget they were supposed to keep such records and couldn't even archive texts on company smartphones, previously blackberrys.  That's just spitting in the face of the regs.  Lex says 20 years ago, the SEC fined wall street banks boatloads over conflict of interest in research reports.  Dear readers know the fall of the mighty Grubman was funny.  Maybe the big $$$ fines finally clean things up. 

Crypto won't say crypto  - the UK absolutely loses the PLOT.   Starts injecting 5 billion pounds a day for two weeks, that's 65 billion, after a while it adds up.  Even if not, this pours FIRE on the inflation thing.  And gives hope to the BTC bulls in winter. 

Today's crypto that says crypto, in print and online, zippo.  Nil, nada.  OK FT we know how you feel. Too busy being butt hurt over Sterling, we understand, do ya wanna talk about it!??!  OK then

For comic relief, the $(#&$#(*&!!  IMF piles in on the UK, calling the UK out for acting like an emerging market - It is important that fiscal policy is not at cross purposes with monetary policy.   Today the UK returns the flamewars:  former MP John says the IMF did not see the big inflation they triggered, had no sensible advice in good time, now late in the day the world has moved on.   TBF even LIz's fave econ Julian tweets even HE cannot  spin this positively. 

The FT has a lotta quotes from unnamed sources, many of whom no doubt hate Liz, but it's funny.  If you like disaster flick gallows humor.  One banker says there were NO offers on long term gilts for a while, that's THE earthbreaking kiss of death. 

The way many UK pension funds are set up is to be hedged for big market moves.  But they never planned for this big this fast, and they were tipping into a death spiral, being forced to sell assets, which tanked the asset prices, which forced them to sell assets.  Kerrin at Cardano, not the coin, says 90% of pension funds would have been wiped out. 

All the different articles talk about the same things.  Mortgage bankers WITHDREW 1,000 products after the swaps market went nuts along with the gilts.  It's official, the BoE and the Treasury are hammering away in opposite directions. 

It IS funny, when he started Kwasi said, and we quote, "markets will react as they will."  Five days later, piff 65 billion to try and keep it together. 

The grapevine says Kwasi is dead.  But Death takes many forms, some of them quite slow, in the Tory party. 

Dear readers know we love Mohammed from Allianz and Queens college.   Mo says the window on the way out of this mess is already closing. 

But we are here for the FUNNIES!! and THAT prize goes to Paul, the economist at BNP Paribas - it's hard to appear co-ordinated when fiscal policy is on the accelerator, and monetary policy is on the brakes. 

Well said, Paul!! It's VERY hard.   TBF to Kwasi, it's really cool when you can pull it off, though!!

Doing a power brake, spinning tires to warm up, is mandatory in some drag race situations.   More importantly, the coolest thing we learned to do in the early 90's was the lower east sider motorcycle parking job, where you pull up to a smallish space in front of the bar (Max Fish art bar preferably.)  Then,  lock the front brake, spin the rear wheel, and jack the bike sideways into the spot with one leg on the ground.   VERY cool, as long as you don't drop the bike, hit other bikes or cars, or shred the rear tire, and of course your front brake best be working great and have lots of horses to break the rear free.  Eventually (pretty damn soon) this bit of panache will stretch or break your chain, and pretty quickly destroy the front or (more likely) the rear sprocket.  But Kwasi it looks GREAT when ya pull it off, baby!!!! the chicks dig it!!  Or maybe not, but who cares it's FUN!!! 

And if ya fail?   Well then, dear readers know we have the eternal Zen parable, oh masters:  Once you have, as needed,  replaced the chain, sprocket(s), and tires, clutch n brake levers, mirrors cables etc from doing this stunt, how then do ya test it?? HUH HOW CAN YOU TEST IT!!!!??!!    Other than to do it allllll again.  It's the inescapable cycle of reincarnation for ruining bike parts, it's not your fault Kwasi.  Don't drop it, that looks the WORST.   Plus then ya break the clutch & brake handles, & have to clutch/ brake with Vise Grips to get home. 

Well that's OUR useful advice for the night, hope they appreciate it, it's from the heart man.  They don't even MAKE videos for the chit we are recommending and that Kwasi is trying, but here's close, Kwasi, don't say we never learned you nothin, manTLDR:  it's easier and a LOT safer if ya execute the spin turn while not ON the bike, rather standing beside it, less weight on the bike.  Or, while ON the bike,  if ya do a straight burnout without spin turning.    But where's the fun in that??!!?  THAT doesn't look THAT cool!!  Clearly, Kwasi is MUCH more into white-knuckling his maneuvers, & god bless him, lord loves a trier!!   Ar ar ar ar ar !!  Hit the nitrous, Vin Diesel. 

No bikes here, just cars.  &  we don't even like Metallica, except when they are covering Thin Lizzy.   But for Kwasi,  man, we'll make an exception.  Here's to you, Mr. Kwarteng.   You only get one shot at that 20,000 degree seat, here's to your asbestos arse, even if it is bursting into flame.  Everybody knows when the green light shows, ya rev it to the red line DUMP the CLUTCH n GOOO!!!!!!!!!!   Trust in your mechanics, brother. Else rebuild what broke, again.  Best of luck, all the love, ya need it.  Liz can't afford to admit the L, she'll give you whatever you ask for right now.  

Lol when powerbraking old cars, the smoke can come up thru the floorboards, cover your mouth!!   Feel that old british car buck & fight itself!!    Don't worry about the price of tires at a time like this LMFAO!!!! 

OK, we gotta sleep, long drive tomorrow early AM.  Thanks crypto folks, have a great night whenever that is.  

Peace, 

Love

Dave

Turn on, I see red
Adrenaline crash and crack my head
Nitro junkie, paint me dead
And I see red A hundred plus through black and white
War horse, warhead
Fuck 'em man, white-knuckle tight
Through black and white Ooh, on I burn
Fuel is pumping engines
Burning hard, loose, and clean
And I burn, churning my direction
Quench my thirst with gasoline
So give me fuel, give me fire, give me that which I desire