• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Guest Post: Economy Flight 666 - Our One-Way Ticket To Zimbabwe

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Tue, 02/15/2011 - 15:45 | 964497 jus_lite_reading
jus_lite_reading's picture

YES YES YES!!!!!!!!!! One New Madrid quake and it's game over without a single protest...

Tue, 02/15/2011 - 16:15 | 964603 nope-1004
nope-1004's picture

In the 60 mins interview, Benocide says that "money supply isn't increasing".

Then at 1:05 of the QE-LIE video he says "at the end of this excercise the money supply will be brought back into more normalized levels.....".

So which is it, you witch?

 

 

Tue, 02/15/2011 - 17:08 | 964871 I think I need ...
I think I need to buy a gun's picture

translation hes going to raise the gold price in 15 minutes to prevent hyperinflation.

Wed, 02/16/2011 - 05:50 | 966089 Rusty Shorts
Rusty Shorts's picture

We are doomed bitchez.

 

Deal with it.

Tue, 02/15/2011 - 17:12 | 964890 I think I need ...
I think I need to buy a gun's picture

The Fed is ending. China has brought it down. They are working on the new currency now and have been for 7 years. everything will be reset

Tue, 02/15/2011 - 18:30 | 965122 Bob Sponge
Bob Sponge's picture

Where are you getting this new currency info from?

Thu, 02/17/2011 - 02:05 | 969343 chumbawamba
chumbawamba's picture

He's probably getting it from Captain Obvious.

I am Chumbawamba.

Wed, 02/16/2011 - 02:11 | 965961 I Am The Unknow...
I Am The Unknown Comic's picture

This is the only one way ticket you should ever think about.  It explains everything...Wall Street included:

http://www.youtube.com/watch?v=DtBcwDY9D_M&feature=related

http://www.youtube.com/watch?v=3aVAPzj5d-M&feature=related

 

Wed, 02/16/2011 - 05:57 | 966094 Rusty Shorts
Rusty Shorts's picture

hahaha - you forgot this one bitch.

 

SAMMY HAGAR - 1974 - PAPER MONEY

http://www.youtube.com/watch?v=580GyjDTlc8

 

 - post the lyrics to that bitchez

Tue, 02/15/2011 - 15:45 | 964499 nobusiness
nobusiness's picture

Did Bernacke forget to buy the IWM at 2:30?  The SPY bounced up, but IWM did not for 10 minutes.  Unless my quotes are wrong.

Tue, 02/15/2011 - 15:45 | 964502 hannah
hannah's picture

who runs (owns?) this country..? the politicians or the federal reserve. why cant congress tell the fed what to do and then make them do it....i guess they cant because it would end the politicians 'careers' or 'source of wealth'....there isnt a solution to our problem. we cant fix any of this.....it will fix itself when we collpase.

Tue, 02/15/2011 - 23:19 | 965756 Founders Keeper
Founders Keeper's picture

[we cant fix any of this....]---hannah

Hi hannah. I understand your frustration and hopelessness.

Regarding "we cant fix any of this" I'm afraid the situation we find ourselves cannot be undone now. The damage is too systemic, too entrenched, and irreversible. Decades in the making.

At this point, prepare as best you can while you still can. Most of what you "may" need is still available at reasonable prices. If money is an issue, consider selling some stuff. (Don't wait too long to sell. There may soon come a time when the buying dealer says "No thanks. I already have too many of those.")

Best wishes. See you on the other side of this.

 

Wed, 02/16/2011 - 03:18 | 966004 Freddie
Freddie's picture

+1

Wed, 02/16/2011 - 04:49 | 966057 slewie the pi-rat
slewie the pi-rat's picture

iyam pretty much all in meself hear.  this BE the might-e quinine, jim.

thizBeCspeeslowie ooot, eh? got grilled?  got coosh?

Tue, 02/15/2011 - 15:57 | 964507 Red Neck Repugnicant
Red Neck Repugnicant's picture

Wrong country. 

Shouldn't the title read, "Flight KFC99: America's One-way ticket to Niger"

I want my WHITE House back!

Coins/Cans/Conservatives/Craigslist/Toilets at Airports 2012

Tue, 02/15/2011 - 16:01 | 964570 homersimpson
homersimpson's picture

I think all your posts should start with "Redneck Rites Anuther Dum Comment - Reed Heere" next to the HarryWanger posts.

Unions/IOUs/Libbies/BusinessInsider/Bernanke in the Outhouse in 2012.. or whenever his term is up..

You libbies already took over the white house. Just get out of it now.. you clowns made W look like a tightwad.

Tue, 02/15/2011 - 16:22 | 964660 Red Neck Repugnicant
Red Neck Repugnicant's picture

Rumor has it that if a Tea Party conservative becomes the next House leader, the gavel will be replaced with this simple call to arms:

http://www.youtube.com/watch?v=MwHWbsvgQUE

http://www.npr.org/blogs/thetwo-way/2011/01/07/132741897/dissecting-spea...

Tue, 02/15/2011 - 21:40 | 965537 undereducated
undereducated's picture

whistlin' past the graveyard...

Tue, 02/15/2011 - 23:16 | 965751 fxrxexexdxoxmx
fxrxexexdxoxmx's picture

My lack of support for abortion has changed since you came here. I fully support the abortion of any child you create.

You are probably a bottom looking for a top so pregnancy is not an issue

Tue, 02/15/2011 - 23:30 | 965777 d00daa
d00daa's picture

The poor fuck is getting ass-raped on his silver shorts.

Pity him.

Wed, 02/16/2011 - 05:09 | 966066 slewie the pi-rat
slewie the pi-rat's picture

xenophobicxylaphonycymballs2nitenightilene

Wed, 02/16/2011 - 00:15 | 965850 trav7777
trav7777's picture

let's explore this whole "white" house thing...what exactly good have blacks brought to this nation?

Despite trillions in favoritism over 40 years, they're still irretrievably at the bottom of the socioeconomic ladder.  There are a dozen blogs which recount the trends in scholastic performance out there, despite mountains of money thrown at the problem.

It's so bad that the diversity police no longer even COUNT asians as a minority.  Yet it used to be illegal for one to testify against a white man; they also sat at the back and did not drink from the white fountain.  Indians are also of color and seem to be doing just fine.

If you mean we need to take the country back to the principles BEFORE civil rights, I wholeheartedly agree.  Nothing good has come from that movement.

Wed, 02/16/2011 - 03:46 | 966018 Red Neck Repugnicant
Red Neck Repugnicant's picture

Having a discussion about race or civil rights with a redneck bigoted white supremacist is like having a knife fight with a hemophiliac, or like trying to convince a Yankee fan that the Red Socks are better.

But I'm bored, so I'll take a gentleman's swing at it for a moment....

When I think about the silly, shallow, cosmetic, vacuous, "chicken-fried" characteristics of our modern American culture, I don't think of black people; I think of overly-dramatic white soccer moms with botox faces using GPS touch-screens in their over-sized SUVs, racing to their sterile suburban McMansions just in time for another evening of microwave food and American Idol.  I think of white people with their credit cards, living the "American dream" at a 15.99% interest rate - that's modern American culture and it's pervasively white.  

When I think about how this country has been hollowed to the core financially, I think of Wall Street and Washington plutocrats who have methodically fleeced this country and who have turned American labor into casino chips - and these plutocrats are all well-educated white guys.

When I think of crooked, two-faced politicians who sell their signatures and America's future to the highest bidding lobbyists, I think of well-educated white guys.

When I think of corporate executives who fly their Gulfstreams around the world trying to find cheap third-world slave labor to undercut American laborers, I think of white guys.  

When I think of greedy, unreasonable union leaders who demand $50/hour labor to keep their ponzi pensions afloat, I think of white guys.

When I think of American youth, I think of this white girl, who was a contender for what a model American teenager supposedly should be:

http://www.youtube.com/watch?v=lj3iNxZ8Dww

With exception to some swass-ass tunes by Easy-E and Snoop Dogg, the American ghetto is a travesty for all the obvious reasons.  But when I think about who/what truly hollowed-out this country into a flimsy, materialistic house of cards kept together with tinker toys and duct tape, I think of our own greedy, selfish, shallow, self-righteous, narcissistic white race. It is not the poor and down-trodden who have destroyed this country; it is the rich, educated, assimilated elite - and if you haven't noticed, those are mostly white people.

 

 

 

 

 

Wed, 02/16/2011 - 04:24 | 966037 RafterManFMJ
RafterManFMJ's picture

And those who invented all those affirmative action programs, welfare, etc., - white people!

Wed, 02/16/2011 - 05:42 | 966083 Snidley Whipsnae
Snidley Whipsnae's picture

+1... You hit it out of the park...

Wed, 02/16/2011 - 05:46 | 966086 Oh regional Indian
Oh regional Indian's picture

Excellent observations RNR. 

 

Black, Brown and Yellow

Dirty Dirty Fellow

Back to the ditch

With your Bitch

Make me another

Slave

Knave.

ORI

http://aadivaahan.wordpress.com/2011/02/16/truth-about-america-truth-about-us/

Wed, 02/16/2011 - 06:06 | 966101 Rusty Shorts
Rusty Shorts's picture

I still love Africa though.

http://www.youtube.com/watch?v=fP_--8Twx6A

Wed, 02/16/2011 - 07:26 | 966137 hardmedicine
hardmedicine's picture

I AGREE about 93.7 %

Tue, 02/15/2011 - 16:13 | 964514 Hugh G Rection
Hugh G Rection's picture

In Ben's defense they aren't 'printing money' digitizing it by adding zeros in a computer is COMPLETELY different.

 

Good interview Benocchio, I almost can't see the strings, pretty soon you'll be a REAL boy!

Tue, 02/15/2011 - 15:49 | 964517 bankrupt JPM bu...
bankrupt JPM buy silver's picture

I got suspended for writing a paper on the fed in my last year...Title: The Federal Reserve System:The greatest scam in modern history.

The history chair thought I was making all this shit up, and my sources were "non' library type.  Received a zero and failed.

I've kinda made it my life mission to bring these mother fuckers down.  I truly belive he is going to burn this mother fucker down before that though...FUBM too while I'm at it.

 

www.silvergoldsilver.blogspot.com

Tue, 02/15/2011 - 17:11 | 964883 I think I need ...
I think I need to buy a gun's picture

I heard last night in a conference call that the FED is done. They are going to remove the fed then let it be known that all deviratives are done! The treasury bill will replace the fed note. I don't know the timing......

Tue, 02/15/2011 - 22:34 | 965669 Calculated_Risk
Calculated_Risk's picture

You mean that bullshit pump the dinar conference call?

Tue, 02/15/2011 - 19:34 | 965254 SilverRhino
SilverRhino's picture

Where can I get a copy? 

Wed, 02/16/2011 - 00:16 | 965854 JR
JR's picture

I believe this of your history chair. The Fed is a religion with these people. It's not a question of learning, of an education, when the academics insist on a political viewpoint.

Tue, 02/15/2011 - 15:49 | 964522 Rogerwilco
Rogerwilco's picture

Gold standard, yeah right. I stopped reading when he popped open that can of crapcola.

Tue, 02/15/2011 - 15:56 | 964550 Harmonious_Diss...
Harmonious_Dissonance's picture

I suppose other systems have worked. The tally stick system worked really well for 726 years. It was the most successful form of currency. 'Course the US is likely headed the way of prison barter currency. Smokes, grass, or ass.

Tue, 02/15/2011 - 15:59 | 964562 topcallingtroll
topcallingtroll's picture

Lmfao!

Tue, 02/15/2011 - 22:52 | 965697 jimijon
jimijon's picture

No one rides for free.

Wed, 02/16/2011 - 05:40 | 965811 Oh regional Indian
Oh regional Indian's picture

Is that when they had tally stick saves at sunset?

ORI

http://aadivaahan.wordpress.com/2011/02/16/truth-about-america-truth-about-us/

Tue, 02/15/2011 - 15:58 | 964557 topcallingtroll
topcallingtroll's picture

Yeah. The gold standard is how the rich enslave the poor. Current populists forget why previous populists were against it.

Wed, 02/16/2011 - 02:18 | 965966 akak
akak's picture

The gold standard is how the rich enslave the poor.

And that is why the gold standard was only killed by the Great Peasant Uprising of 1933.

(/sarcasm)

Learn a little bit of history ---  it is FIAT currency that enslaves, impoverishes and destroys the common man and his savings.  Gold is honest money, and that is why dishonest men (which includes statists of ALL persuasions) hate it with such a passion.

Wed, 02/16/2011 - 02:50 | 965988 The Navigator
The Navigator's picture

+2 Quadrillion

Wed, 02/16/2011 - 05:25 | 966072 Bringin It
Bringin It's picture

+ I see a smoking hole where TCT used to be. +

Tue, 02/15/2011 - 16:05 | 964577 Sathington Willougby
Sathington Willougby's picture

Where's your genius plan?

Sorry someone already floated the turd standard.  Can't use that one.

Tue, 02/15/2011 - 16:32 | 964719 bingaling
bingaling's picture

Personally I think time would make a damn good currency .

Tue, 02/15/2011 - 21:54 | 965571 CPL
CPL's picture

Reminds me of a Stainless steel rat story on how one hour of work equaled one hour of work in terms of money.  Still trying to figure out participatory economics.  Star trek is based on it.  Although it (participatory economics) requires infinite resources like the current system....not unlike Marxism.

 

Actually all economic systems that are available require infinite resources/energy mainly to expand political power structures.  Which is of course utopianism and pointless as a broke-assed, fat, neck beard at a high class cocktail bar asking for a three way of the local bar girls.

Wed, 02/16/2011 - 03:44 | 966021 bingaling
bingaling's picture

This could easily become a one month seminar with it's complexity . As to resources being infinite, they are ,we just have no way of getting to them right now (we aren't Star trekker's just yet we still are sailing on wooden ships) .

As for bureaucracy it could be done in school by the young ,the same time they are getting an education they are doing civil service /paying taxes .

On a side note this is utopian BS like you said but it is fun imagining it .

Wed, 02/16/2011 - 06:54 | 966123 TBT or not TBT
TBT or not TBT's picture

Teenagers running the DMV?   How about the car title departments too?

Tue, 02/15/2011 - 21:44 | 965545 robobbob
robobbob's picture

it was  one of several options, and it said "loosely"

read up on the concept of freegold

open market priced gold held by a CB as an underlying asset to help provide a backing to a floating currency. think NAV of a commodity fund, with your money as a share.

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