THE DOLLAR SONG

The effect of the Federal Reserve’s quantitative easing, recently ended, and the European Central bank’s program, just beginning, is that more money is circulating.  So far inflation has been absent in the U.S. while the  fear of deflation motivated the European bank’s action.  But, inflation will appear if  GNPs do not grow quickly enough to absorb the newly generated spending power.  Inflation, if uncontrolled, steals buying power from the residing currency.

THE DOLLAR SONG
(To the tune of “The Trolley Song,” by Hugh Martin & Ralph Blane, from the 1944 film “Meet me in St. Louis, performed by Judy Garland).

Whisk, whisk, whisk hum the printers.
Crisp, crisp, crisp flow the bills.
Circulating new dollars.
Giving bankers the willies and chills.

Up, up, up rise the prices.
Down, down, down falls your worth.
If this keeps up, my advice is,
Buy a seat on a rocket from earth.

They print a five.
They print a ten.
They’d print a billion dollars
if they had the yen.

Our pockets bulge.
The public spends.
Bringing inflation.
You know where the spiral ends.

Jail those brash counterfeiters.
Sweep those bills off the street.
One thought gives me the jitters

When we learn what they’ve done
and we find that no one
wants our cash.

To the banks we will dash.
To discover a guard at the gate
who will state
“You’re too late,
out of luck.”
That’s the end of the buck.

Lyric © 2015 by Robert S. Steinberg, Esquire
All rights reserved

BITCOIN’S GONE NOW

Mt Gox, one of the Bitcoin exchanges, is filing for bankruptcy after almost half a billion Bitcoins disappeared, virtual and virtually gone. 

BITCOIN’S GONE NOW
(To tune of, “My Man’s Gone Now,” by George Gershwin, Ira Gershwin and DuBose Heyward, from American folk opera, “Porgy and Bess.”)

Bitcoin’s gone now
Virtual and new it was
Too good to be true it was
All those Bitcoins prized

Bitcoin’s gone now
No one will be spending it
Bankruptcy is ending it
Is anyone surprised?

So virtual
And so contrived

Bitcoin’s gone now
Oh I got in much too late
Someone needs to regulate
It’s time they realized

Bitcoin’s gone now
Almost half-a-bill of it
Think I’ve had my fill of it
Dreams of gold downsized

So virtual
And so contrived

Bitcoin’s gone now
Use to bite coins testing them
Bitcoins would be besting them
It was advertised

Bitcoin’s gone now
For lessons learned I’m thanking it
From now on I’m banking it
Any cash derived

Lyric © 2014 by Robert S. Steinberg, Esquire
All rights reserved

THE BANKS ARE OUT OF LINE AGAIN

THE BANKS ARE OUT OF LINE AGAIN
(To tune of, “I Wish I Were in Love Again,” by Richard Rodgers and Lorenz Hart)

Sirs Dodd and Frank
proposed a bank,
If caught self-trading, would receive a spank.
And while we’re waiting for the rules to crank,
The banks are out of line again

The banks complain,
“This isn’t Spain!”
Tough regulations were the root of pain.
Yes, I’d believe that, if I had no brain.
The banks are out of line again

Making bets.
Incurring debts.
Time forgets, that,
bankers had to be bailed-out.

So, what’s so new?
That’s what banks do.
But, take our money and then say F-you.
Now Volcker’s fuming ‘cause,
The banks are out of line again.

Reprise
Back to school.
Best not fool,
with Volcker’s rule, lest,
You want another disaster.

But banks have clout.
They’ll whine and pout.
And congress listens when the big-bucks shout.
The foul pot’s stewing, and,
The banks are out, of line again.

Lyric © 2013 by Robert S. Steinberg, Esquire
All rights reserved

WE’LL TAKE YOUR CASH

The brightest economic minds in Europe have apparently decided that what the Euro-zone needs is a run on its banks.  They’ve proposed stealing funds from Cypriot bank depositors to help bail out the banks.   New Zealand seems to want to join in the thievery. Will Spain and Italy follow suit?  After all,  government  stealing is not theft, but a levy.  

WE’LL TAKE YOUR CASH
(To tune of, “I’ll Take Romance,” by Ben Oakland and Oscar Hammerstein II)

We’ll take your cash
While it’s in your bank and easy to grab
To pay off our big tab
We’ll take your cash

We’ll take your dough
Though we’d sworn it safe as locked in a vault
Watch how we somersault
We’ll take your dough

So the Euro is in double, trouble
Found its way into Cyprus
Spending rubble,
Piles in Cyprus, where people
Don’t like us.
We’ll,

Take your hard-cash
No more college fund,  you’re left all a-gasp
Savings within our grasp
We’ll take your cash

Lyric © 2013 by Robert S. Steinberg, Esquire
All rights reserved

DEBT IS A VERY DANGEROUS THING

DEBT IS A VERY DANGEROUS THING
(To tune of “Love is a Many Splendored Thing,” by Sammy Fain and Paul Francis Webster from 1955 film of same name)

Debt
Is a very dangerous thing
Debt will lead you on, and make you want
Every single thing

Debt is cunning and exotic
It’s like a strong narcotic
When you can borrow, you feel like a king

Then
You no longer pay your loan
And the bankers call
And come take all, of the things you own

There’s a lesson to this story
Loud, alarming bells should ring
Yes debt is,
A very dangerous thing

Refrain:
Debt
Is a very dangerous thing
Lets you feel the world
Is a string-of-pearls
Dangling on your string

But its spell soon breaks
That thrill’s a fake
You’re left untangling string
Yes debt is
A very dangerous thing.

Lyric © 2013 by Robert S. Steinberg, Esquire
All rights reserved

THEY’RE IN THE KETTLE

THEY’RE IN THE KETTLE
(To tune of “We’re in the Money,” by Harry Warren and Al Dubin, from the film “Gold Diggers of 1933”)

Verses
They’re in the kettle
The dust won’t settle
They fudged the LIBOR rate
Got caught, its judgment day

Bet good folk’s money
The joke’s not funny
This time with LIBOR though
They’ll be hell to pay

Bridge
The London rate for bank loans
When a bank loans to a bank
The LIBOR scandal add to
Overrated bets on mortgage debts

Verse
They’re in the kettle
They’ve showed no mettle
Don’t call them bankers, they’re
A den of thieves at bay

Additional verses
Huge banks thought wealthy
Caught not quite healthy
Lowered the LIBOR so
They’d not be on display

When gains at Barclays
Turned lower starkly
Rate-rigging LIBOR seemed
To them a good play

Bridge
The London rate for bank loans
When a bank loans to a bank
That then becomes the benchmark
For adjusting fates, our interest rates 

Verse
They’re in the kettle
They’ll want to settle
Turn up the heat on them
This time, no deals, no way!

 Lyric © by Robert S. Steinberg, Esquire
All rights reserved