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Of Fake "Bogeymen" And Artificial "Security"

Tyler Durden's picture




 

William Buckler, with his Privateer report, once again establishes that in the pantheon of newsletters, he and Kiril Sokoloff are untouchable at the very top. In his latest piece, Buckler deconstructs geopolitics, finance, economics and explains the plutocrats' behavioral modeling in a way fre else seem capable of doing. For anyone confused what all the recent events out of Korea, China, Europe, and the US mean, read the following.

WHAT ARE WE TO WATCH FOR?

Is it not ironic that after nearly two years of international discussions, all supposedly aimed at nurturing the economic “recovery”, the innocent observer of current events is being snowed under trying to keep track of it all? The European “sovereign debt crisis” has once again been pushed to the fore. Dissension in the Fed ranks has been revealed with the minutes of the latest FOMC meeting, the one where QE2 was initiated. The Chinese government is threatening price controls while warning their banks that the “quota” of new loans for 2010 has been met already. NATO is actually inviting Russia to join so that they can all point their missiles “somewhere else”. Politicians everywhere are battling to maintain their “authority” while their subjects grow ever more fractious.

Oh, and the two Koreas have decided to lob some shells at each other.

On November 23, surveying the gyrations on world markets in the wake of the Korean shelling(s), one US fund manager was quoted as saying that it was - “A fear day. There’s a tremendous amount of bad news to absorb.”

“Absorbing” The News:

Sadly, this is all that most people have time to do. If one was inclined to watch them, every “developed” nation has 24-hour TV news broadcasts. Those who don’t have such coverage have ready access to those who do. And, of course, the internet never stops. Its advantage is that a lot of the news is neither “official” nor officially approved by those who are intent on making sure that nobody does any more than “absorb” the news.

As a topical example, take the exchange of shelling on the 38th parallel, the border between North and South Korea. This incident took place at 2:30 PM Korean time (half past midnight in Washington DC) on November 23. In the English-speaking press, it was universally reported as a North Korean attack or assault on South Korea. The condemnation was instant, unanimous and choreographed.

What actually happened was this: South Korea was in the middle of a nine-day live-fire exercise by their navy near the “Northern Limit Line”. This is a maritime border drawn by the UN which North Korea does not recognise. Yeonpyeong, the island shelled by the North Koreans, is just south of that line. The North Koreans claimed that as part of their live-fire exercise, South Korea had fired shells into their territory. South Korea denied this, saying they only retaliated after the North began to shell.

This, by the way, is the second similar incident over the past year. The first one never even rated a mention. This one is being called the most serious incident since the end of the Korean War. But when you don’t want people to think about what is REALLY going on, inducing fear is a great ally.

A Small Example Of A Pervasive Situation:

In April 2010, the US and South Korea staged a live-fire exercise 15 miles south of the demilitarised zone. Officials from both the militaries insisted that this was NOT a warning to North Korea. The date of the exercise, which had been planned for months, was the birthday of the founder of North Korea, Kim Il Sung and a national holiday. The US commander, William Graves, had picked the date. When asked about the provocative nature of picking that particular date, he replied, “I didn’t realise it was his birthday until last night, when somebody happened to mention it to me. It is truly a coincidence.”

Transparently ridiculous statements of this nature are par for the course. They are indulged in by the powers that be in every nation on a routine basis. They are blandly offered to the news media and equally blandly and unquestioningly reported. From there, the expectation is that if they are noticed at all, they will be “absorbed” by the great majority as the background noise of modern events.

Clearly, the April exercise itself was designed to provoke North Korea. Clearly, the date chosen was designed to maximise the provocation. This latest “incident”, the North Korean shelling on November 23, came after days of South Korean live-fire naval exercises within a few miles of the border. It also came less than two weeks after the G-20 heads of state summit - held in Seoul, South Korea - broke up in acrimony and disarray. Few global regimes are as reliable as North Korea when it comes to providing a distraction as and when required. And today, distractions are required like never before.

International Crowd Control:

North Korea is one of the very few nations left in the world in which total control over the populace is wielded by the government. It is a one-party military dictatorship whose leadership has been handed down literally from father to son ever since it was created out of the Soviet occupied part of Korea in 1948. It is a creation of the “cold war” and the only nation that remains intact and unchanged almost 20 years after President Reagan’s “Evil Empire” - the USSR and its bloc - collapsed in 1991. If there is a nation on earth in which the people are totally innocent in the actions of their government, that nation is North Korea. It is kept intact by both China and the US for one simple reason. It is a “bogeyman”.

The English term “bogeyman” has its equivalent in almost every language on earth. But whatever the language, it historically defines an imaginary and threatening figure used by parents to frighten children and thus keep them in line. Modern child psychologists stand aghast at such practices. But modern governments don’t bother much with children because they don’t vote or pay taxes or protest too much.

For adults, the role of parental “guidance” has long since devolved to the state. Here, the practices against which our child psychologist protests so vehemently are used routinely. When the adults threaten to get out of line, they are laid on with an ever more indiscriminate trowel. Today, everywhere one looks - whether at relations between nations, economies or international or domestic financial markets - the bogeymen are proliferating as seldom before.

The Ballot Box Rebellion:

Look at any national election anywhere since the formative days of the GFC in early to mid 2007. You will find that the ruling party or coalition has either been defeated or has seen its majority reduced to a wafer-thin margin. That in itself is not seen as a fundamental threat by the establishments in these nations. What they DO see as a threat, though, is the growing tendency to throw out the incumbent regardless of his or her political affiliation. This was seen in Australia where an election in August resulted in a “hung parliament” with independents holding the balance of power. It was seen even more clearly in the November 2 US mid-term elections with the rise of the “Tea party”. In this election, incumbents by the score were summarily turfed out of office. Once this process starts, the next step is to threaten the unelected government - the bureaucracy. And this threatens the parental state itself.

“Security” - Its Purpose And Its Cost:

What is it that all us “children of the state” get in return for being duly terrified at all the bogeymen which are thrust in our face on a continual basis? We get security, of course. We see it everywhere we go. We hear it every time we listen to a political speech or a news broadcast. We read it in everything from financial prospectuses to geo-political analyses. You will be “safe” - if you do what you’re told.

On an actual or physical level, security has a long record. In the lofty realm of political oratory, WWI was fought, according to President Wilson, “to make the world safe for democracy”. On a more mundane level, it was fought to prevent the enemy from tearing the people limb from limb. The Allies reported that German soldiers were cutting off the hands of babies and crucifying non-combatants. The Germans reported that the allies were poisoning German wells with plague germs and putting out the eyes of German captors. The longer the war dragged on, the wilder these (entirely false) claims became.

Nowadays, of course, the actual war is against “terror”. The physical war is in the process of moving from Iraq to Afghanistan. Iran and/or North Korea are being kept in reserve . The psychological war is fought on the home front, mainly by means of terrorising (or attempting to terrorise) the populace. The most obvious example in the US is the recent notoriety of the Transportation Security (there’s that word again) Administration or TSA. It seems that their “security” methods may finally have gone too far.

The TSA was formed after the 9/11 attacks. It is one of many agencies - the Department of Homeland Security is another - created by the government to take advantage of the outrage and fear caused by 9/11. According to the US Congress, the TSA was set up to eliminate the risk of “terrorist attack” while flying. The TSA grew with amazing rapidity, even for a government agency. It began in January 2002 with 13 employees. A year later, it had 65,000 employees. The cost of running the TSA is enormous and the cost in terms of inconvenience, delay and sheer exasperation to the flying public is incalculable. Or is it? With the TSA’s latest deployment of full body scans or as an “alternative”, very invasive “frisking” techniques, the resentment has boiled over. All of a sudden, a growing portion of the public is mad as hell and isn’t going to take it anymore.

There comes a point where the practice of invoking “terror” rebounds upon those who invoke it. True to his character and consistency, Ron Paul introduced legislation titled the “American Traveller Dignity Act” to Congress on November 17. The act is designed to remove the provision of “security” from the government and return it the entities it most effects, the airlines themselves.

Financial “Security”:

After limited success in trying to sell his latest program of monetising government debt, Fed Chairman Ben Bernanke went off on a new tangent on November 19. In a speech to the ECB (of all institutions) in Frankfurt, Germany (of all places), Mr Bernanke declared that the term “quantitative easing” as a description of the Fed’s latest policy is “inappropriate”. Mr Bernanke’s preferred substitute was “securities purchases”. How magnificently innocuous. After all, everybody does that, don’t they?

If you have ever bought a debt instrument of any nature or a common or preferred stock, you have indeed bought a “security”. That is and has long been the generic term describing almost any type of paper instrument tradeable on the markets. Even the ones which have long since become worthless are still called “securities”. The message is obvious, intentional and long since been taken for granted.

If you want to be “secure”, buy government approved and regulated “securities”. If you want to be REALLY “safe and secure”, buy government-issued debt paper “securities”. They must be safe. After all, the Fed is officially buying them. Ron Paul has introduced a bill to Congress (which has little if any chance of becoming law) to remove the provision of physical security from the clutches of government.  But entrusting financial security to government is very much more dangerous.

Another “Bogeyman” In Focus:

We are sure you have noticed the resurrection of the European sovereign debt crisis over recent weeks. This new chapter (with Ireland replacing Greece as the villain) has surfaced in the global media and on global markets in the wake of the Fed’s decision to proceed with another round of Treasury debt monetisation. It has led directly to a turnaround in the US Dollar and has put a floor under the faltering secondary market for US Treasury debt paper. It has also deflected attention from the avalanche of condemnation - international and domestic - which greeted Mr Bernanke when QE2 was announced.

It is true that Ireland (like Greece) is a fiscal basket case. It is true that the Irish banking system (like its Greek counterpart) horribly overextended itself in a booming real estate market which has long since gone horribly bust. These things were known well before the global credit freeze of late 2008. They were known when the Irish government took the unprecedented step of guaranteeing ALL the deposits in its banks. They have been known ever since.

So why is the “Irish Card” being played now? A November 22 headline from Bloomberg makes the answer clear: “Treasuries Rally as Moody’s Ireland Outlook Spurs Safety Demand”. The issue here is not that the fiscal and banking mess in Ireland (and in Greece) is not real. It most certainly is. The issue is that this mess is GLOBAL. The more pressing issue is that the nation which has done least, so far, to address the problem is the US, the cornerstone of the global system.

You Can’t Eat IOUs:

When the mainstream media talks about the growing “problem” of government deficit spending, they always focus on nations which are having trouble servicing their debts. The issue of actually “repaying” the debt is seldom mentioned. If it is, it is taken for granted that the debt will be repaid - sometime in the indeterminate and nebulous future. Further, most mainstream media examinations of the fiscal problem facing any particular nation measure the annual deficit as a percentage of Gross Domestic Product (GDP). What is not pointed out is that the government spending which this borrowing makes possible is a component of that same GDP.

Government spending does not contribute to the creation of wealth in an economy, it inhibits it in direct proportion to the amount of that spending. That is true even when there is no borrowing involved, with the government running a genuinely balanced budget. Government creates no wealth, it simply confiscates it from those who do. The situation deteriorates rapidly when government spending exceeds government “revenue”. The dead weight of government then falls not only on present production but on future production. The higher the debt grows, the further into the future the burden stretches.

Government spending has no place in any measure of REAL economic growth. Government borrowing is the greatest economic threat to REAL economic growth. Once government borrowing is established as a prime component of the statistic (GDP) that purports to “measure” economic growth, then gradual economic impoverishment is assured. Once government borrowing is deemed to be the most important component in re-establishing economic growth, financial collapse is assured.

That is why the European nations have opted for what is called “austerity”. Portugal, the latest nation to be singled out in the sovereign debt crisis, has already cut its deficit almost in half (by 47.3 percent) over the first ten months of 2010 as compared with the equivalent period in 2009. Every other European nation is on the same path. Only in the US are the government and the central bank both clinging to the old economic orthodoxy that it is possible to borrow one’s way to prosperity.

This is the simple fact which makes US Treasury bonds THE most risky investment imaginable at present. And this is the reason why “crises”, both geo-political and financial, are cropping up with increasing regularity everywhere EXCEPT the US. The bogeymen are being worked harder than ever.

This Is Not Rocket Science - It Is Well Understood:

On November 13, the day after the G-20 meeting ended, the UK Telegraph ran an article by Mr Edmund Conway (who we quoted in our previous issue). “For the past few months, the world’s major economies have been sleepwalking their way towards another crisis. ...It isn’t merely that the summit failed to come up with any decent solutions; it failed to diagnose the problem itself. ...the international monetary system has failed and there is no one willing or able to come up with a reconstruction job.”

The problem is recognised. The inability and/or unwillingness of those in political power to tackle it is recognised. The consequences of NOT tackling it are (grudgingly) recognised. But the only genuine way forward (see our previous issue - Number 666) to a REAL solution is dismissed out of hand.

In the same article, Mr Conway again brings up the “Gold standard” as a demonstration of the WRONG way to “fix” the current failure of the international monetary system. His minor objection is that tying one’s money to Gold still leaves one vulnerable to inflation or deflation depending on how much Gold is dug out of the ground in any given year. This is facetious nonsense. The US government alone borrows far more “money” in one year than the present $US value of all the Gold ever mined in history.

More serious, from Mr Conway’s point of view, a “Gold standard” would also mean the end of banking as we know it because Gold circulating as money is incompatible with fractional reserve banking. This is absolutely true. Fractional reserve banking is the practice of lending out a multiple of the “reserves” that a commercial bank keeps with its central bank. It is a universal practice among commercial banks the world over. It is wholly inflationary, being in essence the creation of a multiple of the bank’s deposits out of thin air, that multiple being determined by the central bank’s “reserve ratio”. It was, until the GFC hit, the prime engine of global credit creation.

But the most damning condemnation of a “Gold standard” - according to Mr Conway (and every head of state and central banker in the world) - is that adopting Gold as money would mean that governments could no longer “adjust” interest rates. This is also absolutely true. It is also the second best argument there is why Gold as a circulating international standard money is vital in ANY real solution to the present global financial crisis. Next to their monopoly control of what is used as money, the most pernicious power in the entire arsenal of government intervention is their ability to manipulate interest rates. This is the power which has led directly to the fiscal crises now breaking out worldwide.

What is the best argument as to why Gold should be re-introduced as money? Very simple. Government cannot print it or create it out of thin air by “borrowing” it. Because they cannot do this, their power OVER their people is severely curtailed. Gold circulating as money is an essential bulwark of both economic freedom and political liberty. It deprives government of their means to RULE.

What Do We Have To Watch For?:

The fact is that all the vital components of the modern monetary system, the one Mr Conway says has failed, are listed as sacrosanct. According to the arguments from politicians and the mainstream financial media, certain components must be retained in any “viable” monetary system. Governments must be able to create money out of thin air by borrowing what they do not dare confiscate. The commercial banks must be able to create money out of thin air by lending out a multiple of the money entrusted to them by depositors. Central banks must be able to create money out of thin air by manipulating interest rates so that existing borrowers can service their debts and new borrowers can be induced to go into debt. Whatever new system emerges must retain all the essential features of the present system.

As long as that “argument” lasts, the situation will get worse and the bogeymen will proliferate. This will go on as long as the rest of the world continues to cling to the US as the “heart” of the existing system. How long is that? That’s what we have to watch for.

As always, there is much more thought provoking and extrmely
insightful content in Bill Buckler's periodic newsletter which we can
not recommend enough.

 

 

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Sun, 11/28/2010 - 15:20 | 759083 Racer
Racer's picture

And the more real dangers..  cigarettes and driving in cars is not addressed in the same vigorous way at all.

How many people are killed by terrrorism compared to cigarettes alone?

Sun, 11/28/2010 - 15:51 | 759161 Oh regional Indian
Oh regional Indian's picture

Cars, yes.

Cigarettes, you just might be surprised.

http://aadivaahan.wordpress.com/2010/10/03/and-tips/

 

And what a raw analysis. 

This week has all the makings of "Fear Days" redux.

Buy the dips because they are only going higher.

ORI

Sun, 11/28/2010 - 16:00 | 759187 nmewn
nmewn's picture

Everyone has their whipping boy...I guess yours is smoking & driving?

I'm pretty sure smoking...be it hashish or tobacco is a voluntary thing aligned with the freedom...as is the freedom allowed by driving oneself from point A to point B on their own schedule.

Terrorism asks for no volunteer victims, they just make them. 

Sun, 11/28/2010 - 20:36 | 759778 i-dog
i-dog's picture

You are right that they are not "volunteers" ... unless, like good citizens of democracies, they were to accept some responsibility for installing and supporting their own governments!

Most "victims" of terrorism are in fact victims of their own government's (or their co-conspirators') false flag events ... from Archduke Ferdinand in 1914, to the citizens and servicepersons in Pearl Harbour in 1941, to the guests and staff in Jerusalem's King David Hotel in 1948, to the inhabitants and first responders in the World Trade Centre in 2001. ALL of these were killed or seriously incapacitated at the hands of their own governments to further political agendas.

Sun, 11/28/2010 - 21:17 | 759861 nmewn
nmewn's picture

Sigh.

Here we go again...i-dog I respect your opinion on a lot of things...but this ain't one of them.

"to the inhabitants and first responders in the World Trade Centre in 2001. ALL of these were killed or seriously incapacitated at the hands of their own governments to further political agendas."

Were the "charges" in place before the AQ hijacked jets struck them? If so, how was this physically accomplished? You do realize the number of people who would have had to be in on it don't you? Where are they now? Why has no one come forward?...the guilt & shame would be excruciating for anyone involved. It would have taken a lot of people for something this size. The amount of C-4 to do the "job" could also not go undetected for long...let alone it's placement.

Furthermore, I recognize shock when I see it...W was genuinely shocked & shaken when he was informed while reading to those kids. So you must be saying he is a much better actor than everyone on the left gives him credit for (no I'm not saying you are on the left). Of everything else he was and is (including his fiscal faults which I condemned him for constantly) he is a Christian...this is something he would not have done or allowed against his own people. As a Christian he knows he would rot in hell for eternity.

Atta was seen (camera & witness's) boarding the flight. Cell phone calls to family were made by the victims to their families before the impacts. Voice technology cannot work when the computer doesn't know who or has no recording of, the victims voice to fake cell calls. Out of 300 million Americans there is no way to know who would be on those flights...and some called who were last minute boarders to boot.

So it was Arabs...specifically Saudis.

To believe any of it one must believe the US government hired Atta & co. to hijack the jets, to slash the throats of crew & passengers...this would be a rather suspicious proposition when viewed from Atta's point of view don't you think?

Mon, 11/29/2010 - 00:03 | 760178 i-dog
i-dog's picture

"I respect your opinion on a lot of things"

Thanks. I also respect yours, yet often disagree on political issues.

"Were the "charges" in place before the AQ hijacked jets struck them?"

Yes. First responders were greeted by explosions in the lobbies while aircraft were still burning 90 floors above them. The perpetrators had many months to plant the necessary charges. Planning for 9-11 started in 1998, though the charges were probably only installed during "renovations" in 2001.

"W was genuinely shocked & shaken when he was informed while reading to those kids."

To my reading, his reaction was more "bemusement". Maybe he was thinking "OK. Now I've got lots of extra work to do. Am I up to it?"

"he is a Christian"

His membership of Skull & Bones and the higher levels of Freemasonry also mean that he has indulged in some distinctly un-Christian activities. The Inquisitors were Christians ... Hitler was a Christian ... Jack The Ripper was a Christian ... Jim Jones was a Christian ... most Mafia hitmen are Christians............

"Atta was seen (camera & witness's) boarding the flight."

The "underpants bomber" was also seen boarding his flight. His CIA handler, who managed to negotiate the bomber's boarding -- without a passport or visa -- was less obvious and not reported at all.

"So it was Arabs...specifically Saudis."

You may believe the party line ... I don't. I came late to 9-11 "truth". For 6 years, until 2007, I simply mimicked what the mainstream media put out and therefore derided friends who pushed a conspiracy theory. Then I was pushed to do my own independent research by a business partner, "starting with Building 7". Recent video and audio releases, gained from NIST under court order, simply confirm my original findings: that the US government was fully informed and deeply involved ... irrespective of any Israeli and/or Saudi involvement.

As I said "governments (or their co-conspirators)". I stand by that. We will possibly soon know which of us is correct, when a proper public inquiry, with full Federal Grand Jury powers to compel witnesses to testify under oath, is conducted.

Mon, 11/29/2010 - 00:49 | 760284 chopper read
chopper read's picture

i'm a big fan of both you guys.  great exchange.

Mon, 11/29/2010 - 07:23 | 760547 nmewn
nmewn's picture

"Were the "charges" in place before the AQ hijacked jets struck them?"

"Yes. First responders were greeted by explosions in the lobbies while aircraft were still burning 90 floors above them."

If this is true it is the smoking gun you seek. The explosives would have left trace elements as to their composition & country of origin on those affected by the blast. The problem of course, is no first responders were injured by explosions in the lobby. I have read nothing or been presented with no evidence that paramedics, firemen, or police had any concussion injuries or burns associated with any blast. As you know many went up & down the stairwells while the towers were on fire. I find it unlikely after being confronted by bombs in the lobby they would have been ordered to press on by superiors & of course their union stewards would have been throwing apoplectic fits if true.

"W was genuinely shocked & shaken when he was informed while reading to those kids."

"To my reading, his reaction was more "bemusement". Maybe he was thinking "OK. Now I've got lots of extra work to do. Am I up to it?"

It's not what I saw.

http://www.youtube.com/watch?v=Na600UB-bG0

"His membership of Skull & Bones and the higher levels of Freemasonry also mean that he has indulged in some distinctly un-Christian activities."

Skull & Bones...well maybe. Mason's no.

I know many who are Mason's. I myself was "invited"...but I'm not much of a joiner, outside of AAA & an NRA lifer I belong to no other private organization...LOL...but I know who Mason's are and they are not evil and they are, for the most part Christians who stand head & shoulders above most on the integrity & morality scale...as to the rest...clearly they were psycho's. (Let's not get sidetracked).

"The "underpants bomber" was also seen boarding his flight. His CIA handler, who managed to negotiate the bomber's boarding -- without a passport or visa -- was less obvious and not reported at all."

Link please.

"As I said "governments (or their co-conspirators)". I stand by that. We will possibly soon know which of us is correct, when a proper public inquiry, with full Federal Grand Jury powers to compel witnesses to testify under oath, is conducted."

And I have no problem with that whatsoever.

 

Mon, 11/29/2010 - 08:14 | 760565 i-dog
i-dog's picture

"I have read nothing or been presented with no evidence that paramedics, firemen, or police had any concussion injuries or burns associated with any blast."

The explosions were associated with shaped charges set on the internal support columns. They weren't trying to do an Oklahoma City and blow the whole freaking building in one big blast!! If you did your own investigation, rather than just believing the WSJ and NBC, you'd find plenty of reports. Here is one to get you started: http://www.youtube.com/watch?v=FGGP20137SA

"I know many who are Mason's."

So do I. And well above the first 3 levels of those who do the charitable work and social gatherings and have no knowledge of the power structure. BTW, Masons can be Christians, Muslims, Jews, whatever ... as long as they believe in a deity. Only atheists not admitted.

"Link please."

I'm sorry ... you'll have to do your own research [or not ... we are all free to make choices]. I don't keep track of all the links I visit when doing my own cross checking of media reports. Maybe you could start here: http://www.youtube.com/watch?v=73tZlkkxjts (start @6:30).

Anyway, I'm not going to debate this 'synthetic terrorism' (as Webster Tarpley calls it in his own book on 9-11) any further. You are free to believe whatever you like ... but, please, make sure it is based on reasonable investigation of both sides of any story.

Mon, 11/29/2010 - 19:47 | 763041 nmewn
nmewn's picture

Well I had a long rebuttal all typed out and realized I'm not wanting a big ass debate with you on this either...I think our positions are pretty well hardened.

I'm also not a big fan of geopol (Tarpley) either...it's been a long day for me anyways i-dog.

Gentlemen can agree to disagree on any issue and still keep their eye on what counts most.

SeeYa

Mon, 11/29/2010 - 14:55 | 761729 tamboo
Sun, 11/28/2010 - 16:03 | 759195 cyclemadman
cyclemadman's picture

Cigarettes and driving in cars are personal choices. When participating in those activities you accept the dangers.

Sun, 11/28/2010 - 16:09 | 759209 cosmictrainwreck
cosmictrainwreck's picture

+4.5

Sun, 11/28/2010 - 18:53 | 759534 Ripped Chunk
Ripped Chunk's picture

junking puss bags out in force today.

Sun, 11/28/2010 - 21:55 | 759910 GoinFawr
GoinFawr's picture

Driving cars, a choice, right. Say, which country do we get a lot of oil from? Saudi Arabia? Interesting...

 Are all you in the GWB/Dick Cheney fan club beginning to see how this 'bogeyman' thing works yet?

(Please tell me at least one of you are, please)

Sun, 11/28/2010 - 19:05 | 759560 Al Gorerhythm
Al Gorerhythm's picture

And the more real dangers..  cigarettes and driving in cars

The mind works in mysterious ways. An article based on the unraveling of the economic  norms and how the playbook is applied in trying to maintain the status quo and your surgical disassembly of the topic:  cigarette and automobile deaths? 

In regard to your concern about cigarette and automobile deaths, you did not address the most incredible fact that Barbie the doll, made her debut in 1959 at the American Toy Fair in NYC. Shame on you!

Sun, 11/28/2010 - 23:06 | 760065 chopper read
chopper read's picture

centralized money planning and fractional reserve counterfeiting with fiat money are both highly immoral and favor insiders at the expense of little old ladies scrubbing toilets.  

these scumbags will never let go of their positions of power until either it fully collapses under its own fraudulent weight, they consolidate even more power under a one-world currency (SDR), or we take back our right to trade freely in a bloody revolution.  

those who are direct linear beneficiaries, such as David Rockefeller, view these systems as their feudal birthright, everyone else can eat cake.

when is the focus going to turn towards the exact individuals, such as David Rockefeller, that this system favors most? 

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

Sun, 11/28/2010 - 15:22 | 759089 Cognitive Dissonance
Cognitive Dissonance's picture

....it was universally reported as a North Korean attack or assault on South Korea. The condemnation was instant, unanimous and choreographed.

Any time I see and hear the mainstream media speaking as one, I always assume I'm being propagandized. I have yet to be dissapointed.

Sun, 11/28/2010 - 15:48 | 759149 E_pluribus_unum
E_pluribus_unum's picture

I love truth with the same part of myself that so adores beauty. You know it when you see it.

You just exposed a truth that people fear for much the same reason as so many shockingly beautiful Women wear make-up.

It is insecurity coupled with lovely, and appropriate self doubt, modesty.

If we can't rely on 'them' we would need to rely on ourselves.

That time has come.

Sun, 11/28/2010 - 19:36 | 759620 honestann
honestann's picture

I'd say it came at least 97 years ago.

At this point, I'd say it might be "too late".

Mon, 11/29/2010 - 10:40 | 760758 blindfaith
blindfaith's picture

made up truths don't lie.

 

think about it.

Sun, 11/28/2010 - 16:22 | 759234 dark pools of soros
dark pools of soros's picture

correct ..  and then in between they split and bicker to their target audience until the next marching order is sent

Sun, 11/28/2010 - 16:29 | 759251 Highrev
Highrev's picture

Transparently ridiculous statements of this nature are par for the course. They are indulged in by the powers that be in every nation on a routine basis. They are blandly offered to the news media and equally blandly and unquestioningly reported.

It's not propaganda. They're incompetent morons. That’s the majority of the press. It’s not that they don’t question, it’s that they don’t know how to reason in the first place. And that’s not just the case with the press. It’s pervasive everywhere. It’s the Peter Principal taken to its logical extreme. Everyone has risen to their level of incompetence and there is no longer anyone competent in any leadership position regardless of where you look (well, almost – I know there’s an exception or two out there … we’ve got Tyler). And where do we go from there? I can assure you it’s not up.

Sun, 11/28/2010 - 19:34 | 759615 honestann
honestann's picture

First, they are bought and paid-for by the predator class.

Since they only publish what the predators want them to, they no longer need intelligent, insightful, rational researchers and reporters.

Sun, 11/28/2010 - 23:55 | 760159 Bob
Bob's picture

 . . . rational researchers and reporters, the great majority of whom have been axed in the last 20 years of corporatization, mergers and downsizing in the MSM.  Most--but not yet all--idealistic journalists are no longer interested in working for the MSM, which has been largely reduced to a Ken and Barbie talking head and filler industry.  Which is good, since the jobs are no longer there for them in any case.

Sun, 11/28/2010 - 18:32 | 759506 Thanatos
Thanatos's picture

What Do We Have To Watch For?:

I'd say Bill Buckner is a good start.

Sun, 11/28/2010 - 15:25 | 759097 Lndmvr
Lndmvr's picture

Scroll on the news said something about " 20 wesites were closed down due to misinformation" and that Wikileaks was under a denial of service attack( by whom I wonder)?  Checked Zero, and all is well,  will it last the night?

Sun, 11/28/2010 - 15:55 | 759174 cosmictrainwreck
cosmictrainwreck's picture

"MISINFORMATION"?! My God are we in deep doo-doo. Orwell's black=white has done arrived........

Sun, 11/28/2010 - 15:57 | 759182 Things that go bump
Things that go bump's picture

Thanks for that comment, it just reminded me to look up the IP address for zerohedge and save it to my favorites that way.

Sun, 11/28/2010 - 19:32 | 759611 honestann
honestann's picture

188.126.66.68 --- write it down, everyone.

Sun, 11/28/2010 - 15:31 | 759109 Paul Bogdanich
Paul Bogdanich's picture

Gold standard - please.  look art the danm un-mined reserves.  Russia and South Africa.  Yeah sure go on the gold standard.  Between the two of them they could easily mine a billion + ounces a year.  Given we can't control the supply there is no way that gets to be the standard. 

Sun, 11/28/2010 - 15:52 | 759166 CrockettAlmanac.com
CrockettAlmanac.com's picture

If you're going to unequivocally state that Russia and South Africa could double the supply of all the gold mined in the history of the world in a five year period, I'd like to see some data backing you up. Otherwise it's like saying you could screw 10,000 supermodels a year if you really wanted to.

Sun, 11/28/2010 - 17:11 | 759333 Paul Bogdanich
Paul Bogdanich's picture

Too numerous to mention.  Go google "Russian alluvial gold" and see what you get.  Similarly go Google "South Africa gold deposits" and see what you get.  In my original list I also forgot mexico which has huge undeveloped reserves.  Russia is particularly interesting.  I count at least five mines in development each with an annual production capacity of 600 to 700 tonnes of refined gold.      

Sun, 11/28/2010 - 17:56 | 759425 dnarby
dnarby's picture

Alluvial gold?  Yeah, that will be easy to get to.  Spread out across millions of acres.

Gold deposits?  Yeah, those will be easy to get to.  Miles below the surface, grams secured in tons of rock, I'm sure oil will remain cheap and plentiful to supply the mining machinery.

You write about gold like it's just lying around on the surface in shiny, refined piles.

Sun, 11/28/2010 - 18:07 | 759447 AUD
AUD's picture

Hah! You obviously haven't heard the old adage; "a gold mine is a hole in the ground with a liar at the top".

As for Russian alluvial gold, do you have any idea how much alluvial gold was 'mined' from the Klondike in the late 19th century? From various places in Australia, from California?

Did it make gold worthless & the gold standard inoperable? No.

Sun, 11/28/2010 - 18:18 | 759475 Bay of Pigs
Bay of Pigs's picture

This isn't gold amatuer hour around here. Google something else like "gold mine developement and production costs". It takes millions/billions to bring new mines into production. Not to mention the TIME involved on permitting, mapping, drilling, etc...

Sun, 11/28/2010 - 19:58 | 759683 Free Radical
Free Radical's picture

As with oil, coal, etc., there is a difference between deposits and reserves, the former being (presumably) extant, the latter being economically extractable.  Mr. Bogdanich does not appear to appreciate the difference.

Mon, 11/29/2010 - 03:36 | 760458 Hook Line and S...
Hook Line and Sphincter's picture

Maybe, but Boggy has convinced me to head to Russia with my trusty sluice box.

Sun, 11/28/2010 - 17:15 | 759342 Rusty Shorts
Rusty Shorts's picture

Cowry Shells Bitchez

 

Shell money is a medium of exchange that was once common. It consisted either of whole sea shells or pieces of them which were worked into beads or otherwise artificially shaped. The use of shells in trade began as direct commodity exchange, the shells having value as body ornamentation (much like gold). The distinction between beads as commodities and beads as money has been the subject of debate among economic anthropologists.[1]

Shell money was not restricted to any one quarter of the globe, but in some form or other appears to have been found on almost every continent: America, Asia, Africa and Australia. The shell most widely-used worldwide as currency has always been the shell of the cowry species Cypraea moneta, the money cowry.

 

http://en.wikipedia.org/wiki/Shell_money

Sun, 11/28/2010 - 17:44 | 759399 RockyRacoon
RockyRacoon's picture

I can see it now:  a fractional shell banking system.

Problem with shells is the infinitely divisible problem.

Sun, 11/28/2010 - 19:46 | 759651 honestann
honestann's picture

And the predators-that-be are too adept at "shell games".

Mon, 11/29/2010 - 01:59 | 760378 chopper read
chopper read's picture

i'm fresh out of shells, but i do have a handful of sand.  will that do?

Sun, 11/28/2010 - 19:15 | 759572 RafterManFMJ
RafterManFMJ's picture

Been collecting shells for some time now. Have quite a selection in .223, .40 and 6.8 mm...

Sun, 11/28/2010 - 20:38 | 759780 nmewn
nmewn's picture

Ya know...it takes a lot of brass for you to come on here and say something like that.

Welcome aboard ;-)

Mon, 11/29/2010 - 02:00 | 760382 chopper read
chopper read's picture

+357 to you both. 

Sun, 11/28/2010 - 19:30 | 759605 honestann
honestann's picture

This is the just about the most small-minded and simplistic notion I have ever heard.  It is simply utter, pure nonsense.

This is the same argument that says "a gold standard is not fair because some countries have more gold in the ground".  Duh.

!!! That does not matter !!!

Listen up.  If you (or any country) is able to efficiently manufacture  ANYTHING  you can trade it for gold.  In other words, a gold standard does NOT favor those who have deposits of gold (which must be found and mined at very substantial cost in the vast majority of cases).

Instead, the gold standard favors  EVERYONE  who efficiently produces  ANYTHING  --- whether they trade those goods for gold or anything else.

It is stunning how utterly and completely so many people misunderstand an honest "gold standard".  Sheesh!

Sun, 11/28/2010 - 21:59 | 759947 StychoKiller
StychoKiller's picture

I posit that the misunderstanding is somewhat intentional -- after all, what is "fair" about someone having more Gold that someone else?  Socialists/Progressives abhor "unfairness!"

Mon, 11/29/2010 - 00:27 | 760242 honestann
honestann's picture

Whoever believes this madness about "gold in the ground" should simply go out into the boonies, grab the gold "lying around", and get rich.  Wow, that was easy, huh?

NOT.

Even if you are amazingly lucky and find a good piece of dirt to mine, you need to invest hundreds of millions of dollars and many years to start up your mine.  Fact is, gold mining isn't a very good investment, no matter where in the world you happen to be.

Sun, 11/28/2010 - 15:33 | 759114 Youri Carma
Youri Carma's picture

(LEAD) South Korean artillery mistakenly fired on DMZ, 28 November 2010, (Yonhap) http://english.yonhapnews.co.kr/news/2010/11/28/0200000000AEN20101128005300315.HTML

PAJU, South Korea, Nov. 28 (Yonhap) -- South Korea mistakenly fired an artillery shell toward the southern side of the Demilitarized Zone (DMZ) on Sunday afternoon and soon sent a message to North Korea that the firing was accidental, military officials said.

No casualties occurred from the accidental discharge that took place at around 3 p.m., the officials said.

More Updates in this post: http://forum.prisonplanet.com/index.php?topic=193349.msg1147627#msg1147627

Sun, 11/28/2010 - 19:07 | 759562 Gordon Freeman
Gordon Freeman's picture

Must be some job to "accidently" discharge (!) an artillery piece...

Sun, 11/28/2010 - 15:44 | 759139 doolittlegeorge
doolittlegeorge's picture

is this a satirical piece?

Sun, 11/28/2010 - 15:44 | 759140 Turd Ferguson
Turd Ferguson's picture

"So why is the “Irish Card” being played now? A November 22 headline from Bloomberg makes the answer clear: “Treasuries Rally as Moody’s Ireland Outlook Spurs Safety Demand."

I've been saying this for weeks, to anyone willing to listen.

When the USDX hit 75 and the euro hit 1.42, it was time to roll out the "EU Contagion" story again. Not that there isn't a contagion, there is. The timing of the "crisis" is the bullshit that no one notices. 

Down goes the euro. Up goes the dollar. But in the end, all go down relative to gold.

Period. End of story.


Sun, 11/28/2010 - 16:02 | 759193 Lux Fiat
Lux Fiat's picture

As UST interest rates have become increasingly volatile to the upside of late, the Treasury and Fed are probably sweating bullets.  I was wondering when and if other assets would get trashed to provide a respite.  Not a change, not a cessation, just a respite.  Don't consider the action over the last few weeks a trashing.

Sun, 11/28/2010 - 17:58 | 759427 dnarby
dnarby's picture

Both of you got junked.  Someone must have gone long the SPX at the close on Friday! XD

Sun, 11/28/2010 - 18:55 | 759539 Ripped Chunk
Ripped Chunk's picture

Maggots unable to deal with reality throw junk.  There is not much else for them to do now.

Mon, 11/29/2010 - 03:41 | 760466 Hook Line and S...
Hook Line and Sphincter's picture

Better to throw junk than feces. Not to mention all the fecal coliforms found on each FRN.

Sun, 11/28/2010 - 15:46 | 759144 Greenhead
Greenhead's picture

No good crisis should go to waste.

Sun, 11/28/2010 - 19:15 | 759577 Al Gorerhythm
Al Gorerhythm's picture

Judging by the broad sweep of the junk button, it looks as though there is a "Johnny Bravo" lurking on the board.

Sun, 11/28/2010 - 17:31 | 759145 UpShotKnotHoleGrable
UpShotKnotHoleGrable's picture

http://www.youtube.com/watch?v=1YQWs0--CwY&feature=related

In the heat of the day
Every time you go away
I have to piece my life together
Every time you're away
In the heat of the day
In the dark of the night
Every time I turn the light
I feel that God is not in heaven
In the dark of the night
The dark of the night

I wonder why I live alone here
I wonder why we spend these nights together
Is this the room I'll live my life forever
I wonder why in LA
To live and die in LA
I wonder why we waste our lives here
When we could run away to paradise
But I am held in some invisible vice
And I can't get away
To live and die in LA

If I let myself go
And for where I just don't know
I'd maybe hit some cold new river
That led out to the sea
An unknown sea
I'd either swim or I'd drown
Or just keep falling down and down
I think it's that, that makes me quiver
Just to keep falling down
Down, down, down

I wonder why I live alone here
I wonder why we spend these nights together
Is this the way I'll live my life forever
I wonder why in LA
To live and die in LA

In every word that you say
I feel my freedom slip away
I feel the bars come down around me
And I can't get away
I can't get away

I wonder why I live alone here
I wonder why we spend these nights together
Is this the room I'll live my life forever
I wonder why in LA
To live and die in LA
I wonder why we waste our lives here
When we could run away to paradise
But I am held in some invisible vice
And I can't get away
To live and die in LA

I can't get away
To live and die in LA
I can't get away
To live and die in LA
I can't get away
To live and die in LA
I can't get away
To live and die in LA

http://www.youtube.com/watch?v=DM_FGAL0-Mg

all your base on ave of the stars and century park west are belong to us

Sun, 11/28/2010 - 16:09 | 759154 nmewn
nmewn's picture

Bravo!

"Further, most mainstream media examinations of the fiscal problem facing any particular nation measure the annual deficit as a percentage of Gross Domestic Product (GDP). What is not pointed out is that the government spending which this borrowing makes possible is a component of that same GDP.

Government spending does not contribute to the creation of wealth in an economy, it inhibits it in direct proportion to the amount of that spending. That is true even when there is no borrowing involved, with the government running a genuinely balanced budget. Government creates no wealth, it simply confiscates it from those who do. The situation deteriorates rapidly when government spending exceeds government “revenue”. The dead weight of government then falls not only on present production but on future production. The higher the debt grows, the further into the future the burden stretches."

And today roughly one third of GDP is governmental transfers for this or that.

How I long for the day when I can count one third of my deductions twice when I file my taxes ;-)

Sun, 11/28/2010 - 17:49 | 759410 RockyRacoon
RockyRacoon's picture

If you think this small part of The Privateer was relevant, you should have read all 12 pages of it.  I stay up late on Saturday evenings (fortnightly) to get the email link to download my copy.  Always a good read.

Sun, 11/28/2010 - 19:59 | 759685 nmewn
nmewn's picture

Looks like "someone" calling himself the Privateer has posted toward the bottom of the thread about copyright infringement and not being able to get in contact with ZH for months...that should be a hoot...LOL.

Sun, 11/28/2010 - 22:49 | 760049 RockyRacoon
RockyRacoon's picture

Ooops!  I believe he is the real deal.  I hope Mr. Buckler will write and post some articles of his own, outside The Privateer's scope.  It would be a welcome addition to some of the regular contributors.

Mon, 11/29/2010 - 07:28 | 760550 nmewn
nmewn's picture

If he is the real deal he would be a wonderful addition.

I just find it hard to believe TD & staff would ignore his stated requests to them to cease & desist and not respond to his private entreaties to do so.

Something doesn't smell right...I could be wrong.

Sun, 11/28/2010 - 15:50 | 759156 Lux Fiat
Lux Fiat's picture

Once government borrowing is established as a prime component of the statistic (GDP) that purports to “measure” economic growth, then gradual economic impoverishment is assured. Once government borrowing is deemed to be the most important component in re-establishing economic growth, financial collapse is assured.

 

Completely in agreement with the historical record.

Sun, 11/28/2010 - 19:16 | 759580 honestann
honestann's picture

Yes.  That is nicely stated in terms of causality.

Sun, 11/28/2010 - 16:10 | 759206 Youri Carma
Youri Carma's picture

Bit dissapointed in this story cause it doesn't get to the point about how nations got these debts in the first place. Banksters debts were tranported to nation debts, to keep it simple. Getting a bit sick of the "system has failed approach "or too many or to little rules". Fraud is the biggest component together with silly governments accepting banksters bogus and taking on their debts created out of thin air.

That these debts are getting worse in an economy, frustrated by the banksters in the first pace, is merely a logical concequence.

It's like you taking my debt and I making profit again on your demise while frustrating your source of income and at the same time not paying your back.

Solution is quiet simple: Force Majeure - stripe away all these bogus debts and restart the system which I call the "Tulip Mania Solution". Of course a lot of people have to go to jail and the rule of law has to come back again for the banksters. It's a total lawless system now. But the American system incentives are build to sustain the corruption so there's realy no hope whatsoever. So kick back and "enjoy" the fall of the Roman Empire self destructing.

Sun, 11/28/2010 - 17:54 | 759418 RockyRacoon
RockyRacoon's picture

It's not a history of the world, just a portion of the newsletter which comes out every 2 weeks.  Subscribers are fully aware of the history that you'd like to have included.  As a subscriber for about 10 years now, I just go with the flow of the narrative.  I don't want rehashed history, just the latest developments and the thinking of Bill Buckler.

Sun, 11/28/2010 - 20:53 | 759784 Al Gorerhythm
Al Gorerhythm's picture

Rocky, how many folk out there aren't aware of this history? Obviously the majority, otherwise there would be riots in the streets world over and govt officials and bankers doing the Perp Walk.

In your dismissal of Nmewn's response you could have at least redirected, for those interested in answers.

I know I'm preaching to the choir on this site but there are numerous posters here who don't get it (amongst whom you won't find Nmewn). Their sometimes disparaging comments imply that we somehow haven't participated in their beloved paper system, as if we have migrated from some deserted island and have arrived ignorant of the system that the money lords control. Their favorite thesis is that we have escaped from a mental institute and need professional help to overcome our lust for honest (redeemable) paper money. We want an reliable money system, (hard or paper) we can rely on for exchange transactions and as a medium that maintains its value when stored as savings over long periods.

Bill Buckler warns of inevitable unfolding calamities that result from unfettered production and supply of fiat money. He hasn't been too far off the mark so far.

To be able understand the basis on which he draws his conclusions and not just be dismissive or argumentative, A la Johnny Bravo (long since departed), requires some study. It changes ones perspective of the monetary system and provides a balance to ones biases.

 

For those inquisitive enough to see how we established our views, the sites I'm most familiar with that help build an understanding, via supportive evidence as found in their "Primers" sections, are: The Automatic Earth, The Silver Bear Cafe, FOFOA and I'm sure there must be dozens of others.

A book that covers the ties between big banks and government, outlining their symbiotic collusion in perpetuating the illusion of value in paper currencies, is, The Creature From Jekyll Island, by G. Edward Griffin. When finished, find some quiet corner of your world, throw two fingers down your throat, thereby initiating a purge of their system from your soul. There are hundreds of others not so heavy but his is the best regurgitant.

 

The modern propositions of Fekete, Rothbard, et al, basing their theories on the history of gold and silver as mediums of exchange and savings, support Buckler's prognostications and insights. 

It's hardly worth subscribing to his letter unless you are versed in Sound Money Principles. As you say though, it is a must read.

Sun, 11/28/2010 - 22:25 | 760005 RockyRacoon
RockyRacoon's picture

Great comment!  I agree wholeheartedly that folks should do some reading and studying.  That info cannot be ingrained in every ZH article, however.   Buckler's writings depend upon some previous knowledge.  Just like the financial articles require some knowledge of the terms of art and charting, etc. 

Your list of sources is an excellent synopsis of required study.  If Youri Carma is here, at ZH, he is on his way to sustainability.

Sun, 11/28/2010 - 16:25 | 759229 UpShotKnotHoleGrable
UpShotKnotHoleGrable's picture

http://www.youtube.com/watch?v=0u8teXR8VE4

Out on the streets, that's where we'll meet
You make the night, I always cross the line
Tightened our belts, abuse ourselves
Get in our way, we'll put you on your shelf
Another day, some other way
We're gonna go, but then we'll see you again
I've had enough, we've had enough
Cold in vain, she said

I knew right from the beginning
That you would end up winnin'
I knew right from the start
You'd put an arrow through my heart

Round and round
With love we'll find a way just give it time
Round and round
What comes around goes around
I'll tell you why

Dig

Lookin' at you, lookin' at me
The way you move, you know it's easy to see
The neon light's on me tonight
I've got a way, we're gonna prove it tonight
Like Romeo to Juliet
Time and time, I'm gonna make you mine
I've had enough, we've had enough
It's all the same, she said
Yeah!

Solo

Out on the streets, that's where we'll meet
You make the night, I always cross the line
Tightened our belts, abuse ourselves
Get in our way, we'll put you on your shelf

Round and round
With love we'll find a way just give it time, time, time, time
Round and round
What comes around goes around
I'll tell you why, why, why, why
Round and round

 

all your base bitchez, are belong to us

Sun, 11/28/2010 - 16:36 | 759261 dark pools of soros
dark pools of soros's picture

timeless song but their Invasion of Your Privacy record is what ended most of the metal chick's virginity in the 80's

Sun, 11/28/2010 - 16:32 | 759255 Highrev
Highrev's picture

Excellent article. Thanks!

Sun, 11/28/2010 - 16:37 | 759265 blindman
blindman's picture

@"

What is the best argument as to why Gold should be re-introduced as money? Very simple. Government cannot print it or create it out of thin air by “borrowing” it. Because they cannot do this, their power OVER their people is severely curtailed. Gold circulating as money is an essential bulwark of both economic freedom and political liberty. It deprives government of their means to RULE."

.

comment:  perhaps and maybe not.  faith based assertion here.  i smell

politics.? 

Sun, 11/28/2010 - 17:17 | 759349 Paul Bogdanich
Paul Bogdanich's picture

"What is the best argument as to why Gold should be re-introduced as money? Very simple. Government cannot print it or create it out of thin air by “borrowing” it."

 

Do you know where the largest un-mined deposits of Gold in the United States are?  They are on Nelis AFB in Nevada.  Enormous reserves in the Eastern mountains from not less than a dozen mines that were shuttered when it became an AFB.  Some were operating on and off since the 1820s.  If governments put their minds to it we would be swimming in gold with modern recovery techniques.  Hell the old King mine has several million tons of tailings that run .6 recoverable with modern metalurgy and those are just the damn tailings.  If Gold were money they could mine the Buffalo Valley deposit for a couple of million tons.  Sure low recovery but what does that matter when its printing money? 

Sun, 11/28/2010 - 18:15 | 759467 DosZap
DosZap's picture

Why do you think they SEIZED the land for Federal use?.

If you do a check, you will find most ALL known deposits of any metals of value are on land under the ownership of the Gv't.

Quaint no?.

Sun, 11/28/2010 - 19:04 | 759556 honestann
honestann's picture

Predatory and criminal, yes.

Sun, 11/28/2010 - 19:01 | 759550 chubbar
chubbar's picture

So you are basically saying that all the gold mines that are operating are basically just fucking off in their production of gold? If it was as easy as you say then why would they not mine it? Why go bankrupt trying to high grade their mines during the bad times if it was infinitely available?

I don't think you have a fucking clue what it takes to develop a mine. Nor do I think you have a clue about what exists or doesn't exist with regard to gold resources under ground that has never been drilled. Currently it's about 10 years from discovery to production. This monetary system is on life support as it is.

I think I'd opt for the risk that billions of ounces of gold all of a sudden start appearing from mines before I'd trust the FED to stop from pushing a button to immediately create the same amount of "money".

You have to be a troll.

Sun, 11/28/2010 - 19:13 | 759571 honestann
honestann's picture

He is probably just terminally stupid and insane like most people these days.  Homo-stupidus rides again.

Sun, 11/28/2010 - 19:12 | 759569 honestann
honestann's picture

This is the just about the most small-minded and simplistic notion I have ever heard.  It is simply utter, pure nonsense.

This is the same argument that says "a gold standard is not fair because some countries have more gold in the ground".  Duh.

!!! That does not matter !!!

Listen up.  If you (or any country) is able to efficiently manufacture  ANYTHING  you can trade it for gold.  In other words, a gold standard does NOT favor those who have deposits of gold (which must be found and mined at very substantial cost in the vast majority of cases).

Instead, the gold standard favors  EVERYONE  who efficiently produces  ANYTHING  --- whether they trade those goods for gold or anything else.

It is stunning how utterly and completely so many people misunderstand an honest "gold standard".  Sheesh!

Sun, 11/28/2010 - 19:18 | 759584 RafterManFMJ
RafterManFMJ's picture

Man-fract-ure? I don't think that's a real word. I cannot even pronounce it; Nope, sorry, as an American I believe that word is just something you made up.

Sun, 11/28/2010 - 19:44 | 759646 honestann
honestann's picture

I guess "produce" and "production" are new terms too!

Sadly, you are just about correct.

Mon, 11/29/2010 - 01:57 | 760374 Al Gorerhythm
Al Gorerhythm's picture

The new phrase from Benny is "Securities Purchases", haven't you heard? QE is so yesterday. Died with manafractured.

Sun, 11/28/2010 - 16:39 | 759269 johny2
johny2's picture

I think this in Koreas is just a bit of the same old USA treasury marketing.

But it could be time to re-inflate war on terrorism, so would not be so surprised to see N Korea somehow manage to sink a state of art USA warship...

Sun, 11/28/2010 - 17:04 | 759320 Caviar Emptor
Caviar Emptor's picture

Shhh...don't wake up the citizens, deep asleep while we orchestrate the looting of their retirement savings. After I get my share you can tell them all you want. 

Sun, 11/28/2010 - 18:29 | 759500 Mariposa de Oro
Mariposa de Oro's picture

300 million Rip Van Winkles, as my mother calls them.

;-)

Sun, 11/28/2010 - 17:05 | 759323 tony bonn
tony bonn's picture

the t in tsa stands for terrorist.....that thug brown shirt organization is the death to the american republic just as poppy bush planned it and baby bush realized it demonstrating for all that the new world order of george orwell was to demonstrate conclusively that the constitution is nothing but "a goddammned piece of paper"

fuck the bush crime syndicate.

and yes we need gold now more than ever and certainly an end to fractional reserve banking.

Sun, 11/28/2010 - 17:19 | 759355 breezer1
breezer1's picture

+1000

Sun, 11/28/2010 - 18:19 | 759479 DosZap
DosZap's picture

the bush crime syndicate?

Your far too kind, to the other 15 before them.

This started LONG before the turn of this century.

But the real crap started here,

Xmas Eve 1913, and Woodrow(Progressive/Racist Wilson), sold us into slavery,and then FDR came along and made it worse.

Sun, 11/28/2010 - 19:01 | 759549 honestann
honestann's picture

You got that just about right.  Though the process was gradually happening starting the day the declaration of independence was signed, I'd say December 24, 1913 was the day america became the USSA.

Sun, 11/28/2010 - 18:34 | 759511 Mariposa de Oro
Mariposa de Oro's picture

I agree on the fractional reserve banking part, but let's not forget to give credit where credit is due. Our Teleprompter Jesus/Muhammed/Whatever and his party have had two years to 'clean up Bush's mess' and all they've done is add to it.

Sun, 11/28/2010 - 17:44 | 759375 Ivar Kreuger
Ivar Kreuger's picture

The Government cannot juice the economy.

That is this dude's central point.

Ridiculous.  Look at how the government built the infrastructure of this entire country.

Think ports, freeways, canals, phone/internet.

Saying the government cannot make the economy more efficient is insane.

 

 

Sun, 11/28/2010 - 18:02 | 759423 RockyRacoon
RockyRacoon's picture

Thanks for the comedy relief.  I'm still laughing.

I don't believe that "efficiency" was the motive for gov't spending.

Sun, 11/28/2010 - 18:00 | 759433 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Save the strawman arguments for recess.

Sun, 11/28/2010 - 18:58 | 759544 honestann
honestann's picture

All those government expenditures also had huge negative consequences... quite analogous to the FederalReserve jerking around interest rates to manipulate certain aspects of the economy.  Just look how "efficient" that turned out to be!

Sun, 11/28/2010 - 18:15 | 759459 Ivar Kreuger
Ivar Kreuger's picture

Strawman. LOL

Look at history.  Why was George Washington using troops to dig canals?

Because it wasn't economically efficient? I am sure building a nation-wide freeway system did nothing for economic efficiency.  You folks crack me up.

I dispise  government as much as anyone, but if you want to be taken seriously your argument has to at least consider reality.

 

 

 

 

Sun, 11/28/2010 - 18:18 | 759477 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Neo Keynesian policy can not add any viable inputs into an economy that is missing growth due to declining levels of resource production.  Your historic examples have no reference to Neo-Keynesian policia.

Sun, 11/28/2010 - 18:23 | 759487 DosZap
DosZap's picture

The Nationwide freeway system(Interstates) were not built for IMPROVING anything for civilian use, they were built for moving Military Supplies, and Troops, etc.

The rest of the Freeway systems were/are built with state tax dollars.

There is some reality.

Sun, 11/28/2010 - 18:29 | 759499 Jadr
Jadr's picture

When pointing out the "great" things government has done in creating infrastructure products you are not taking into account the opportunity cost of this money.   Perhaps if the US government had not subsidized the use of automobiles so much with its generous funding for road developments we would have more efficient transportation systems.

Sun, 11/28/2010 - 19:21 | 759590 Sespian
Sespian's picture

+1  Great resource for the well documented facts regarding this is Edwin Blacks's Internal Combustion http://www.internalcombustionbook.com/

Sun, 11/28/2010 - 20:26 | 759756 Calmyourself
Calmyourself's picture

There is no "opportunity cost" to a person who finds Government admirable and worthy of further growth.  They can envision no opportunity of more value for the money to pursue.

Sun, 11/28/2010 - 18:18 | 759473 Ned Zeppelin
Ned Zeppelin's picture

TSA: profile likely Islamist terrorists and you solve 99.999% of the problem (Ex. A Latest Oregon Xmas tree bomber).  Searching grandmothers from Dubois is not making flying safer, and a waste of time. 

Remember the stupid color codes after 9/11, as if there were terrorists in the heartland waiting to strike.  Puh-leze.  

Apparently, we're all bozos on this bus. 

 

Sun, 11/28/2010 - 18:20 | 759482 AUD
AUD's picture

This was seen in Australia where an election in August resulted in a “hung parliament” with independents holding the balance of power

The state of Victoria may not mean much in global terms but I heard this morning a hung parliament or incredibly slim majority is likely.

a “Gold standard” would also mean the end of banking as we know it because Gold circulating as money is incompatible with fractional reserve banking. This is absolutely true.

Mr Buckler has some good points but this is 'facetious nonsense'. When the 'fractional reserve' is actually bills of exchange, drawn on goods in demand actually produced, maturing into gold we have the unadulterated gold standard. It is not inflationary.

In fact this is what the current system has 'evolved' from. The current wayward monetary system was not spontaneously generated from nothing at some point in the past.

Sun, 11/28/2010 - 18:54 | 759531 honestann
honestann's picture

Sorry, but unless I misunderstand [conventional] "bills of exchange", the "fraction" is exactly 1:1 --- which, in other words, is not fractional.

As far as I understand, "bills of exchange" only specify "date of payment" for specific real goods.  This is essentially equivalent to a voluntary contract between manufacturer (or supplier) and buyer.

Sun, 11/28/2010 - 18:59 | 759546 AUD
AUD's picture

You do misunderstand. The banks do not hold depositors gold, even demand deposits, on a non fractional basis under an unadulterated gold standard but the assets they hold are 'as good as gold'. Rather than being as good as not very useful paper.

 

Sun, 11/28/2010 - 19:15 | 759576 chubbar
chubbar's picture

No, I think you misunderstand. Under a gold standard that involves a convertible currency, the amount of paper dollars outstanding is equivalent to the amount of gold held by banks to back that currency. It has nothing to do with assets being held that are unrelated to the issuance of currency.

Banks, or a central bank, would have to be able to redeem the paper dollars for gold. Should the populace suspect that dollars issued outnumbered these gold holdings to any great extent, the bank run for redemption occurs. This is the mechanism for keeping the gov't honest with regard to printing money, as if you didn't know.

What the fuck is going on with the idiots jumping in with dumbass explanations and reasons why the gold standard wouldn't work?

Sun, 11/28/2010 - 19:34 | 759617 AUD
AUD's picture

It has nothing to do with assets being held that are unrelated to the issuance of currency.

I never said the assets had nothing to do with the issuance of currency. I said the assets are as good as gold, because they are securities drawn on goods in real demand that mature into gold, which means dumbass, they are redeemable in gold.

the amount of paper dollars outstanding is equivalent to the amount of gold held by banks to back that currency.

This is the quantity theory of money which is bullshit, therefore you have no understanding of Real Bills or the money markets, so how about you fuck off idiot?

Sun, 11/28/2010 - 21:36 | 759889 chubbar
chubbar's picture

As I undersand it, "Real Bills" is a mechanism by which producers garner/access/borrow production costs in exchange for a short term promise (bill) to pay the provider of funds a stipend and principal to front production costs. These bills are extinguished upon the delivery/sale of the goods (usually 90 days). The agricultural industry being but one example. The "Real Bills" do in fact mature into gold. Only because it is future production secured by funding (real gold but discounted) today. There is a controversy about whether "real bills" can exist within a true gold standard. Antale Fekete seems to have the most research available in this regard.

Your initial example implied that "assets" were as good as gold. That is not true. What they can sell for is as good as gold. The amount of currency in circulation will determine how much gold can be attained by the selling of all assets. Individually, I assume assets can be mispriced.

This has nothing to do with the "quantity theory of money", wrong theory. It's a redeemable gold standard. What the fuck is so hard to understand about that? Take the "theory" out of it. The gov't prints only what is backed by gold in its vault (determined by whatever exchange rate is agreed upon between countries).

Money markets are relevant how? I mean with regard to the gold standard?

 

Mon, 11/29/2010 - 12:24 | 761100 chopper read
chopper read's picture

+1776

Sun, 11/28/2010 - 19:42 | 759641 honestann
honestann's picture

What on earth does your message have to do with "bills of exchange" (the topic of my post)?

Sun, 11/28/2010 - 20:06 | 759703 AUD
AUD's picture

Bills of Exchange are the assets that back bank liabilities under an unadulterated gold standard.

Mon, 11/29/2010 - 00:13 | 760209 honestann
honestann's picture

I don't see why a bank need be involved.  If a manufacturer and buyer agree that the buyer will pay net -90 days (rather than +30 to +90 days as is common now), this is effectively a "bill of exchange" for practical purposes.

I guess when this process occurs with a bankster involved, the bankster essentially lends the payment in gold to the manufacturer 90 days before the goods are supposed to be received by the buyer.  Except, I guess, rather than lending the physical gold, it just gives the manufacturer a paper certificate that promises the gold in 90 days.  I still don't see why the bank needs to do this.

I suppose, if such a practice became widespread, and these certificates were "bearer documents" (ownership to whoever holds them), then people could play "hot potato" with them for 90 days until they pay off in physical gold.

But again, no need for banks to get involved --- they'll eventually figure out how to scam people with these, especially if they are entrusted to print them.  They'd simply print up boatloads more than are backed by gold and play games like JPMorgan is doing in the silver market.

Mon, 11/29/2010 - 12:30 | 761127 chopper read
chopper read's picture

+1776

Sun, 11/28/2010 - 19:54 | 759669 WaterWings
WaterWings's picture

Evolve? More like devolve into open corruption. Just before collapse.

1400 paper tickets per ounce of gold...hmm...keep buying those T-bills.

Hey, where did you get your PhD? 

Sun, 11/28/2010 - 20:08 | 759709 AUD
AUD's picture

Obviously from a better university than yours.

 

Mon, 11/29/2010 - 12:32 | 761139 chopper read
chopper read's picture

AUD, you are a useful idiot to the international banking cartel.  they LOVE guys like you. 

 

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

Sun, 11/28/2010 - 18:30 | 759501 Ivar Kreuger
Ivar Kreuger's picture

 

Neo Keynesian policy can not add any viable inputs into an economy that is missing growth due to declining levels of resource production.  Your historic examples have no reference to Neo-Keynesian policia.

 

We are not talking about any one ideology in particular, I was merely refudiating--what seems to be the basis of the dude's argument--that,

Government spending does not contribute to the creation of wealth in an economy, it inhibits it in direct proportion to the amount of that spending. That is true even when there is no borrowing involved, with the government running a genuinely balanced budget. Government creates no wealth, it simply confiscates it from those who do.

Which I believe to be nonsense, per my examples of infrastructure building in American history.

Believe it or not, some investment return higher yields than others.

Just like building a national freeway system in the 50's has payed for itself 100X over.

Simple stuff.

Sun, 11/28/2010 - 18:36 | 759508 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Fair enough, but I will say that as of now the US government can not juice its nor any other economy, even though this government had onced juiced a specific economy (highway economy, which happened to be sustainable for not much more than 60 odd years).

Sun, 11/28/2010 - 19:16 | 759581 nmewn
nmewn's picture

"Just like building a national freeway system in the 50's has payed for itself 100X over.

Simple stuff."

Number one...the wealth has to be taken from citizens in order for it to be redistributed. The government creates no wealth, it takes wealth and reapportions it to who it desires.

Number two...the government does not build roads. It does not own concrete plants or steel mills or asphault plants and it farms out the work to contractors to do the actual road construction.

Simple stuff ;-)

Mon, 11/29/2010 - 12:33 | 761144 chopper read
chopper read's picture

private sector can do it.

you are a useful idiot to the international banking cartel.  they LOVE guys like you. 

 

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

Sun, 11/28/2010 - 18:49 | 759529 honestann
honestann's picture

Good article, generally well conceived and stated.  I especially like that they call "fraud" on something that has griped me for ages --- that GDP includes government spending... even when borrowed (increasing debt).

That is even worse than saying "my neighbors salary increased from $50,000 per year to $350,000 per year because he borrowed $300,000 to buy a new home".

The current way of looking at GDP would mean the GDP and "economy" could grow dramatically even while every productive activity came to a grinding halt.  How terminally insane is that?

Sun, 11/28/2010 - 19:29 | 759604 nmewn
nmewn's picture

"The current way of looking at GDP would mean the GDP and "economy" could grow dramatically even while every productive activity came to a grinding halt."

It's like some Frankenstein Hedonics experiment gone horribly awry.

"How terminally insane is that?"

Very.

At some point one can envision some pointy headed Ivy League professor saying look...if we just confiscate all the wages in the country (except for their tenure check of course) we could then redistribute it thus creating full employment and a soaring GDP.

Where's my Nobel?...ROTFL.

Sun, 11/28/2010 - 19:40 | 759635 honestann
honestann's picture

I'm sure one of them will accept a Nobel prise for that eventually.  And you can be certain they will not credit you for stating it first.

Sun, 11/28/2010 - 19:52 | 759662 nmewn
nmewn's picture

Well...the "nmewn economic theory" isn't really new (it's communism)...but I figgered what the hell...if Krugman can get a Nobel for just explaining someone elses theory a little better than the original author I should be able pick one up too...LOL. 

Sun, 11/28/2010 - 18:55 | 759538 Ivar Kreuger
Ivar Kreuger's picture

Fair enough

Thanks for being civil, I appreciate the debate. Although I tend to disagree that the US government can no longer juice its economy.  I think we are rapidly approaching that point but we are not quite there.  I base this on the fact that we have undertook about 4 trillion in monetary stimulus.  I believe that was an almost worthless endeavour, but thinking of opportunity cost--like the above poster mentioned--I believe if this 4 T were used toward infrastructure upgrades (high speed trains, electric grid, local agricultural development, etc) we could indeed bring our economy back to life.

 

Then again it already might just be too late.

Sun, 11/28/2010 - 20:33 | 759773 Ned Zeppelin
Ned Zeppelin's picture

Agree, but let's keep it simpler and go with lo-speed, lo-tech but ubiquitous train service around metropolitan and surrounding suburban areas  - east coast is needing this big time. High speed rail yes where's it's needed, like out west. 

Mon, 11/29/2010 - 03:01 | 760436 Al Gorerhythm
Al Gorerhythm's picture

The point is; with whose money do these big spenders build all these projects? Can you name one project that these guys and gals have created, that have run to budget? Not that it matters to them, they're borrowing from you and spending your savings! Can you name one bureaucrat who can spend my hard earned wealth more efficiently than I can? Can you name one war that we are involved in that has created wealth or provided financial deliverance? Can you name one service that the government delivers that hasn't added to our debt? Can you name one creditor who has faith in our government to protect their US treasury holdings? Can you show me one single savings account, where the dollar holdings have held their value? Can you show me one instance of government infrastructure spending, as a means of juicing the economy, that hasn't added to the country's debt and hasn't kicked the can down the road? Can you show me one dollar that is not debt based in its creation? Can you show me one dollar of wealth that has been created through government SPENDING?

Look around the world at the moment. Can't you smell the crarred remains of taxpayers savings? They're expropriating people's pensions to bankroll bond holders, covering previous spending malinvestments.

I live in a different world to yours. All that I see is a spendthrift group of leeches who are in collusion with the banks, running a cheque kiting scheme, and then use the force of government to maintain it.

It's a damned disgrace that anyone can still put their faith in a group of parasites who have bankrupted the nation. Juice the system! What a dream. We're broke but you won't get those clowns to admit it. We're broke but you can't see it. You want to spend $4 Trillion on infrastructure? Have you heard about the national debt? It's nearly 14 Trillion! Nobody is willing to lend us that amount so we'll have to print it. In fact we are doing just that. Do you have any idea on the effect that that will have on the purchasing power of all previously printed dollars? Obviously not.

You aught to get those wonderful government benefactors to run your household expenditures for you. Remember, you'll have to support them on your salary too. Maybe after they have spent you into the poor house, eaten you out of house and home, destroyed your credit rating and have you living in a tent city, perhaps they'll juice your payroll somehow? Sound like a familiar scenario? Probably not ,but that probably doesn't hold any weight with you as you are probably living the dream, whilst those around you struggle to survive on their food stamps and unemployment benefits. If they're not working, Bozo, guess who'll have to pay for it? Look in the mirror?

Mon, 11/29/2010 - 12:40 | 761168 chopper read
chopper read's picture

have not central planners done enough?

unlike the private sector, if they spend money on the wrong road, then we lose the 'risk capital'.  meanwhile, their cronies profit from the government contracts.  privatization of profits, socialization of losses.

roads should be privatized.  all these projects simple build a bond market for the benefit of the international banking cartel.

do not be fooled.

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

Sun, 11/28/2010 - 19:09 | 759565 blindman
blindman's picture

I’m sorry, I forgot, my opinion means nothing. I’m just some brain-dead, fluoridated, prescription-drugged and debt-strapped moo whose only reason for an IRS and Social Security tracked existence is to be out working to produce a revenue stream for the aristocrats and the rest of the world. - One Rather Upset Monster

.

http://logisticsmonster.com/2010/11/02/catherine-austin-fitts-the-looting-of-america/

Sun, 11/28/2010 - 19:29 | 759603 Privateer
Privateer's picture

Good morning from Australia,

This is my first posting on Zerohedge.  Or perhaps I should say my first "voluntary" posting.  It has come to my attention that for the last 2-3 months, almost half of my bi-weekly newsletter has been reproduced prominently on this site almost the minute it is available to my (paying) subscribers.

I am sensible of the honour of being deemed worthy to have my work reproduced verbatim here.  I also appreciate Tyler's kind words in introducing it and have enjoyed the discussion.  I am, however, not insensible to the fact that permission to post these LARGE extracts from my work was never sought by zerohedge and never given by me.

I write every word of The Privateer.  It is copyright material as stated on the masthead of each issue.  I charge a subscription fee which my subscribers seem happy to pay.  The masthead of each issue includes the following information, and I quote:

 

COPYRIGHT:

Reproduction in any manner without permission is a breach of law and property rights.

Permission given to quote SHORT excerpts - provided attribution is given - as follows:

Copyright 2010 - The Privateer

http://www.the-privateer.com

capt - at - the-privateer.com

(reproduced with permission)

 

What has been appearing on zerohedge is not a SHORT excerpt, it is the meat of the newsletter - the first five (out of twelve) pages.  There has been no permission asked for or given to reproduce this material.  To the best of my knowledge, no-one in charge of Zerohedge is a Privateer subscriber.

I have attempted more than once to contact Mr Durden or Zerohedge via email without success.  I am therefore reduced to posting this here.  I hereby ask the principals on this site to cease and desist infringing on my copyright by reproducing large swathes of my work, as it becomes available to my paying subscribers, on this site.

I don't mind SHORT excerpts - a paragraph or two - but the entire GLOBAL REPORT from each issue is WAY over the top

 

 

 

Sun, 11/28/2010 - 20:22 | 759742 AUD
AUD's picture

Ahh Mr Buckler, perhaps what Marcia Stigum wrote back in 1983 is applicable here;

The Fed's problem in measuring money is not only in defining money but in getting accurate numbers on whatever it has defined money to be.

I can highly recommend Marcia Stigum's book, The Money Market, if you can find it. 700 pages of hard reading but you will understand the money market, unlike some people posting on this website.

Sun, 11/28/2010 - 21:17 | 759829 i-dog
i-dog's picture

"I write every word of The Privateer.  It is copyright material as stated on the masthead of each issue."

Are you claiming that every word and thought expressed in your newsletter is your original thought alone and has never been expressed by anyone prior to you? (If you do so claim, even I would challenge you since your comments on Korea mimic my own prior comments here, and of others).

You are not a Shakespeare, penning totally original lines like "Alas, poor Yorick! I knew him, Horatio", which was NOT copyrighted. You are simply applying a filter to news sources and the opinions of others and riding on their coattails.

Good luck to you. I'm sure your subscribers receive great value in having your collated opinions presented to them as a consistent body of opinion (your newsletter has often been praised here), but don't claim government protection by force of arms and assert that your have produced an original work of art that has not been previously expressed by hundreds or thousands before you. Your claim may be within the letter of such statist law, but not within the spirit.

Just my 2 cents on yet another supporter of yet another statist protection racket!

Sun, 11/28/2010 - 22:16 | 759994 chubbar
chubbar's picture

Mr Buckler (Tyler) As a long term subscriber to the Privateer I am also a bit concerned about this posting of opinion/analysis that I pay for and is becoming largely available on a free site.

I've thought about it the past few times your work has been posted and I completely understand why you would be upset. I hope Tyler respects your paid analysis otherwise all paysites will eventually go out of business. If he didn't think you were talented I doubt he would continually post it.

However, it occurs to me that we are in a unique and dangerous period. It's kind of an "all hands on deck" sort of emergency that I think is going to reveal itself shortly.

That's not to say that I agree with not securing your approval for dissemination, just that the greater public good (I'm not a liberal) may be served by your last couple of issues being widely distributed on free sites. You so succinctly describe the follies of the current monetary system I've found it hard not to post your writings myself.

Regardless, I think Tyler should cease and desist unless he gets your permission to post. Otherwise, he ultimately just puts you out of business and deprives your paying subscribers of your insights, it's not like you are going to do this for free.

Also, given the current gov't crackdown on  copyrighted material, let's not give those assholes any reason to shut down this valuable site.

 

Sun, 11/28/2010 - 22:45 | 760040 RockyRacoon
RockyRacoon's picture

Mr. Buckler, I am also a long time subscriber and await the late Saturday night arrival of my email for downloading my newly minted Privateer.   I am surprised to hear that the postings of the excerpts of the last weeks were not with your permission!  On the other hand, I'd be with chubbar's above sentiments in saying that I do not feel that the information is not relevant nor needed in this financial and economic environment.  Would that I could afford to buy a subscription for all truly interested parties.  Keep up the good work!

Sun, 11/28/2010 - 19:42 | 759642 steve2241
steve2241's picture

Regarding the crucifying of non-combatants by Germans, I've seen photos from a website documenting this occurrence (sorry, no URL). As war crimes go, that would be tame stuff, though, if true. Google the "Rape of Nanking" (China).

Sun, 11/28/2010 - 19:56 | 759658 Ivar Kreuger
Ivar Kreuger's picture

It has come to my attention that for the last 2-3 months, almost half of my bi-weekly newsletter has been reproduced prominently on this site almost the minute it is available to my (paying) subscribers.

Godamn I love this site.

Sun, 11/28/2010 - 20:23 | 759697 AUD
AUD's picture

.

Sun, 11/28/2010 - 20:37 | 759776 Ned Zeppelin
Ned Zeppelin's picture

Oops.  

Well, we must respect Privateer's property rights, and not read his stuff without paying for it first. Privateer, pls consider posting periodically. 

Sun, 11/28/2010 - 20:38 | 759782 Kreditanstalt
Kreditanstalt's picture

"There’s a tremendous amount of bad news to absorb.”

Disingenuous or myopic.  There is no longer any such thing as "bad news".  There is only "news". It is neither good nor bad; there are now only more truths amid the mass of lies, and we must separate the one from the other.  "Extend and pretend"  is getting rather overextended... 

Sun, 11/28/2010 - 20:41 | 759785 Ivar Kreuger
Ivar Kreuger's picture

Number one...the wealth has to be taken from citizens in order for it to be redistributed. The government creates no wealth, it takes wealth and reapportions it to who it desires.

 

Number two...the government does not build roads. It does not own concrete plants or steel mills or asphault plants and it farms out the work to contractors to do the actual road construction.

I fully understand that Obama is not out there with a jackhammer.

Neither of those points really do anything to even address my original claim.

Which was--the government CAN create wealth, by using your money in a wise investment.

One that without centralized coordination could not happen--like a national highway system.

Instead of using your money in stupid investments, like QE, the government should invest in return generating sectors.

Imagine if that 4 T got spent on R&D and infrastructure upgrades.

Everyone would benefit, just like a national highway system, and the

return could potentially be, dare I say it, GREATER than then investment.

Then the government would have "created wealth"

Simple shit, denying this makes others not take you seriously.

 

Sun, 11/28/2010 - 22:21 | 760003 nmewn
nmewn's picture

"Simple shit, denying this makes others not take you seriously."

LOL...if you say so.

Here ya go tiger...FNM & FRE are constructs of government are they not?...their best & brightest...GSE's (Government Sponsered Enterprises)...off the top of your head give me a running tally of how profitable or how much damage they have done to private sector capital formation...or should I say capital misallocation?...including derivatives...trillions?...or ponzified gazzilions? 

Seen anyone thrown in the clink yet for this theft?...ever wonder why?...of course you haven't...this tells me all I need to know about you.

Was the CRA a private or public venture into capital markets and for what purpose?...really?...or was it just to enrich elitist snobs like Raines, Gorelick, Johnson, Prince et al?

NAFTA was a construct of government as well...how's that workin out?...how much slave labor is enough?...or alternately, for us, how many rent vouchers, food stamps & unemployment beni's is enough?

"Neither of those points really do anything to even address my original claim.

Which was--the government CAN create wealth, by using your money in a wise investment."

Your another statist tool-fool...you are a glittering jewel of why people don't trust government...I'll lay it out just for you...just once.

There will always be people at the top of the pyramid...always...government is supposed to watch them for us so they don't rob us...not be in collusion with fucking robbers themselves.

Sun, 11/28/2010 - 21:10 | 759845 VeloSpade
VeloSpade's picture

I just fucked my junk.

Mon, 11/29/2010 - 00:47 | 759874 i-dog
i-dog's picture

The Supreme Court has often ruled that the government has no "duty" to protect its citizens ... You cannot sue the government for [even negligently] failing to protect you. This introduces two problems:

1. Any citizen swearing an oath of allegiance to the state in consideration for protection is being short-changed. In other words, the assumed contractual relationship ("social contract") is null and void on this basis alone.

2. Any claim by the government that they "need" to protect us is disingenuous and hides their true motive ... to control us!

Sun, 11/28/2010 - 23:07 | 760072 chopper read
chopper read's picture


centralized money planning and fractional reserve counterfeiting with fiat money are both highly immoral and favor insiders at the expense of little old ladies scrubbing toilets.  

these scumbags will never let go of their positions of power until either it fully collapses under its own fraudulent weight, they consolidate even more power under a one-world currency (SDR), or we take back our right to trade freely in a bloody revolution.  

those who are direct linear beneficiaries, such as David Rockefeller, view these systems as their feudal birthright, everyone else can eat cake.

when is the focus going to turn towards the exact individuals, such as David Rockefeller, that this system favors most? 

http://www.zerohedge.com/forum/how-do-we-arrive-eve-our-collapse

 

Sun, 11/28/2010 - 23:06 | 760079 essence
essence's picture

Zerohedge is correct in that Bill Buckler is an exceptionally savvy
and articulate commentator. From what I gather given snippets that
ZH has occasionally posted, he puts out a very fine newsletter indeed.

One aspect of his post that was news to me and I feel bears expansion
is the information that the recent Korean confrontation stems from a joint
US/South Korean excercise near the border ... on the birthday/national holiday
of the Norths dictator.   Not exactly a good idea.

What struck me is the US Naval Commander (who set the date)
claiming that he was clueless about the implications. So, either he is
ignorant or lying; either one is not acceptable for someone in such a position.

Unfortunately this does have the classic signs of the US military/industrial
complex wanting to be fed. We know how that turns out.

And if my words offend any of my fellow citizens, I would think that
Vietnam,Iraq and Afganistan had enlightened you to the machinations of
the darker forces inside the US. Merely look at the history of the US in
instigating wars. I urge all to read about Daniel Ellberg and his revelations
on the beginnings of the Vietnam War. Likewise, think back to our former
secretary of state standing in front of the UN showing CIA photos that he claimed
were proof postive of WMD and the need to invade Iraq.

 

Should it come as a surprise to any that in order to obfuscate the gross
injustice of the ever continung big bank bailouts we also find a bevy of
world wide crisis cropping up that .... surprise,surprise... seem to call for
the involvment of the US military machine.

The Powers that Be are resorting to old tricks;
Invoke the patriotism aspect as subterfuge and cover.

"Patriotism is the last refuge of a scoundrel"

 

 

 

 

 

 

 

Sun, 11/28/2010 - 23:11 | 760084 chopper read
chopper read's picture

agreed.  these people are sick, which is why they wish to take control of the internet and continue the madness.

is it possible that they may fail?  will liberty finally trump tyranny for the first time in 240 years?

Sun, 11/28/2010 - 23:23 | 760102 RockyRacoon
RockyRacoon's picture

The truth is not likely to offend the majority of people you'll find at ZH.

There are notable exceptions -- who shall remain nameless.

You know who you are.   Or, maybe you don't.

Mon, 11/29/2010 - 00:39 | 760262 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

Mossad and CIA behind 9/11...to engender terror and fear and the need for "security"...anyone thinks otherwise is living in the matrix. It's a bitter pill to swallow, but take the red one folks

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