Saturday, April 4, 2009
Why "Mark To Market" Is A Fantasy
This is exactly why you can not invest on the news, you can trade on it, but not invest on it. Check out this great article "Let's Play Pretend" by Peter Schiff of Euro Pacific Capital......
When elementary school kids want to escape the confines of their circumstances they pretend to be pirates, princesses, and Jedi knights. Now, with the relaxation of "mark to market" valuation rules announced yesterday by the accounting trade's self-regulatory body, our bankrupt financial institutions can escape their own reality by pretending to be solvent. The unraveling of our Complete Story