Why don’t you wander over to the Ticker Forum, sign up, and set that fool Denninger straight?
He’ll eat you for lunch and pick his teeth with the shards of your femurs.
I'd be surprised if Denninger wrote something like that. Or if he thought that 1600 was larger than 1773. Or if he thought that banks profit from inflation.
Denninger and the Dennizens of Ticker forum also think that banks profit from inflation, specifically, the attempted re-flation of the deflating housing market. It's the only way the Too Big To Prosecute Banks & the Bernank can get the garbage mortgages back to the point where they can put them back on their books.
Also, Denninger doesn't believe that he knows what the total June 2011 treasury holdings of China & Japan will be, unlike others who shall not be named...