A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

Recent entries:
“Give me all your money or you’re geography!” (bank robbery joke) (6/24)
“A tragedy is a ship full of bankers sinking. A catastrophe is when they can all swim” (6/24)
“You said you had between ten and fifteen million dollars in the bank” (joke) (6/24)
“Cell phones keep getting thinner and smarter…people the opposite” (6/24)
“Before you diagnose yourself with depression, first make sure you’re not surrounded by assholes” (6/24)
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Entry from May 12, 2011
Fiatsco (fiat money + fiasco)

"Fiatsco” (fiat money + fiasco) is a financial slang term used by those who don’t hold much faith in the value of the U.S. dollar (paper money). The tem “fiatsco” appears to have been coined in 2008 by a blogger with the names of “Spock” and “Rasputin.”

An unrelated meaning of “fiatsco” (or “Fiatsco” or “FIATsco") involves the carmaker Fiat (Fabbrica Italiana Automobili Torino).


Free Merriam-Webster Dictionary
fi·as·co noun \fē-ˈas-(ˌ)kō also -ˈäs-\
plural fi·as·coes
Definition of FIASCO
: a complete failure
Origin of FIASCO
French, from Italian, from fare fiasco, literally, to make a bottle
First Known Use: circa 1854

(Oxford English Dictionary)
fiat-money n. U.S. money (such as an inconvertible paper currency) which is made legal tender by a ‘fiat’ of the government, without having an intrinsic or promissory value equal to its nominal value.
1880 ‘E. Kirke’ Life Garfield 30 We shall still hear echoes of the old conflict, such as‥the virtues of ‘fiat-money’.
1888 J. Bryce Amer. Commonw. II. lvi. 369 Greenbacks, or so-called ‘fiat money’.

News Kontent
25 September 2008
Rasipedia on total financial collapse
(...)
Rasipedia:
Table of Contents:
Section 1: The correct fiatsco amount (currently) of the “Hanktator Act” bailout bill

Wall Street Examiner Forums
Spock
Posted 07 October 2008 - 03:35 AM
...currently underway, which also includes the U.S. fiatsco, shown here:

Forget stocks. It’’s all about return OF principal

...which is also why people are still piling into U.S. Treasuries despite that massive, multiple trillion fiatsco reflation/monetization/nationalization efforts currently underway by the Fed and Treasury.

AZRainman’s Photoshop Satire
Rasputin Economics: Crash of 2008
By AZRainman on Friday, October 10, 2008
One of the rarities in life is finding a person who can write financial satire, embraces critical thinking and has an astute knowledge in economics. Rasputinlives at Prudentbear forum is that rarity.
(...)
All I can say is: “Good luck” because I wouldn’t put any fiatscos in any bank anwhere in the world, even if they were paying 20% APR interest.

Wall Street Examiner Forums
Spock
Posted 13 November 2008 - 05:16 PM
Indeed, the U.S. fiatsco represents all that is holy, righteous, prudent, fair, rare, precious, and moral.

Gold is a useless, barbarous relic--yet central banks and the IMF happen to hold more of it collectively than anyone on the planet.

Furthermore, all fiat currencies have “Infinite Life” and have all lasted eternally, no matter which government or entity issued them. And all sheeple always trust all fiat currencies all the time and never abandon them when their governments and central banks create trillions and trillions of them.

Wall Street Examiner Forums
Rumors of the U.S. fiatsco’’s demise are…
Spock

Posted 04 December 2008 - 04:59 AM
...clearly greatly exaggerated.
Take a peek at this six-month graph of dollar:...

Wall Street Examiner Forums
LOL, rumors of the U.S. fiatsco’s demise… ...are once again wrong.
Spock

Posted 31 August 2009 - 04:33 AM
All weekend this Vulcan has been reading, with some skepticism, various blogs and Websites that have been shrieking:

“If Japan’s DPJ wins the election, the U.S. fiatsco is scroomed, SCROOMED I TELLS YA!!! U.S. Treasuries will instantly collapse!!! Buggy whips to da moon!!!”

Wall Street Bear Discussion Board
Re: Here is another disturbing sign that the U.S. fiatsco’s days are numbered:
JBVO - Fri, Sep 18, 2009 - 07:02 PM
Your certainty cuts off debate. Bye, bye buy bonds. 

Zero Hedge
Head and Shoulders Shampoo
Submitted by RobotTrader on 11/13/2009 16:43 -0400
(...)
COMMENTS
by RobotTrader
on Fri, 08/21/2009 - 21:40
I’m stuck in the airport for a few hours.
Just had to post the excellent missive from my favorite poster at Prudent Bear Chat:
From Spock (aka Rasputin)
(...)
As a consequence, the entire ten-trillion fiatsco McMansion market is now solely under the control of Uncle Sugar and the Fed, who are desperately trying every trick in the book to move McDebtors into McBoxes--or to try to keep the sheeps from moving out due to foreclosure.

Seeking Alpha
You Should Still Buy Silver and Gold
by: Yatin Karnik
April 29, 2011
(...)
COMMENTS
Analyste de Boston
Apr 29 03:41 PM
The fundamental error of Paper Bugs today - beyond denying that Gold is money and the inevitable debasement /destruction of every paper fiatsco in history - is that high commodity prices must be wrong-thinking, spec driven.

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Thursday, May 12, 2011 • Permalink