Watching TV while eating lunch today inspired this rant. Relevant ideas for your consideration: The budget "cuts" are compounded over ten years, but the debt ceiling raise is just until it gets used up again. So when they talk about "$2 Trillion in cuts and $2 Trillion in debt ceiling increase" what they mean is [...]
The principle purpose of banking is asset-stripping. What is asset-stripping? The best way to understand it is this: financial terrorism. It's really very simple, very insidious, very effective, and it wears a suit. First, it's important to understand the main operational aspect of banking: counterfeiting. Ooops, did I say counterfeiting? I mean "Fractional Reserve Banking." [...]
Let’s review: $14.4 trillion in national debt $114 trillion in unfunded liabilities No federal budget passed in over two years TARP Bailouts of massive corporations while average Americans are struggling just to provide for their families ObamaCare (i.e., forcing citizens to purchase a product or service, while calling it “health care reform”) Many thousands of [...]
"Can We Please Stop Pretending the GDP Is Growing"? Through the miracle of simple arithmetic, Charles Hugh Smith is able to bring you this analysis of federal spending and the American GDP that I guarantee you won't see in any Federal Reserve publication or on any business or national news program: The Federal government borrowed [...]
This is not investment advice. I am not an investment professional, and you should seek professional advice before making any investments. Bloomberg: Gold imports by China may increase after investment demand more than doubled in the first quarter, with the country overtaking India to become the largest market for gold coins and bars, the World [...]
And it's not some Tea Party tinfoil hat whacko who thinks so; it's Mohamad El-Erian, co-CEO of PIMCO, the world's largest bond fund, with over $1.3 Trillion under management. "The co-CEO of the world’s largest bond fund has warned America that it faces a combination of higher inflation, austerity and financial repression over the coming [...]
Any economist or economic historian will tell you: volatility will kill you. Any physical scientist will tell you that a system that experiences oscillations that rapidly increase in size will soon tear itself to pieces. Please watch the illustration below; it is the famous "Tacoma Narrows Bridge." "Galloping Girtie" was a bridge made of concrete [...]
Consider: normally, during international crises, financial crises, etc., a phenomenon occurs known as "flight to safety." In the past, this has been synonymous with "flight to the dollar." During normal economic times, risk assets (stocks, commercial buildings, etc) are a good way to earn return on your investments. When a crisis hits, there is a [...]
1. The Ben Bernank prints up an insane amount of money and floods the world with it: 2. Food prices start to rise (this is wheat): 3. The man on the street in North Africa starts to starve, protests begin, and governments start to fall: http://www.benzinga.com/11/01/782891/food-riots-2011 The stunningly violent food riots in Tunisia and Algeria [...]
I have long maintained that the central bank is an instrument of private mega-banking policy, and that that policy is quite simple: attach to an economy and suck the life out of it like a vampire. This makes the central bank similar to Renfield in Bram Stoker's gothic novel Dracula. Any central bank must be [...]
Perhaps ever fearful that the world is on the verge of realizing that, not only can it live without central bankers, but that central banks are destructive of liberty and should be consigned to the dustbin of history, Kansas City Federal Reserve President Thomas Hoenig made this shocking statement on Wednesday: "The gold standard is [...]
...the end of the beginning. Reuters has just reported that Paul Volcker is leaving his post as head of the President's Economic Recovery Advisory Board. It has always been my opinion that Volcker was asked to lend his street cred to the Fed's reinflation efforts. His reputation as the inflation fighter who broke the back [...]
