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Guest Post: The Tipping Point has Arrived

Tyler Durden's picture




 

Submitted by Mike Krieger of KAM LP

The Tipping Point has Arrived

Our age is retrospective.  It builds the sepulchres of the fathers.  It writes biographies, histories, and criticism.  The foregoing generations beheld God and nature face to face; we, through their eyes.  Why should not we also enjoy an original relation to the universe?  Why should not we have the a poetry and philosophy of insight and not of tradition, and a religion by revelation to us, and not the history of theirs?  Embosomed for a season in nature, whose floods of life stream around and through us, and invite us, by the powers they supply, to action proportioned to nature, why should we grope among the dry bones of the past, or put the living generation into masquerade out of its faded wardrobe?  The sun shines today also.  There is more wool and flax in the fields.  There are new lands, new men, new thoughts.  Let us demand out own works and laws and worship.

- Ralph Waldo Emerson, Nature

I believe we have finally breached the tipping point in the socio-political landscape of the United States of America.  There will be no going back from here.  Everyone on all levels of society including the elites must make a choice.  Will you stand for real reform and an end of the feudalistic rule of the oligarchs and their paid-off puppets that line the streets of Washington D.C., or will you keep your mouth shut and play the old and dying game in the context of a completely different cultural environment? 

While many will disagree with what I am about to say, I believe the oligarchs and the Federal Reserve have already lost. 

This will not be clear to the vast majority at this time because the powerful institutions that dominate and rob us will continue to fight for survival but the wind is already blowing in a different direction and cannot be reversed.  The smart elites are starting to see this and are hedging their bets.  The dumb or stubborn ones may want to start looking at countries with non-extradition treaties or start blowing the whistle on someone above them and fast.  The window of opportunity to make the choice is closely quickly.  “I was just following orders” will not cut it when the dollar collapses and Disneyland shuts down.  There have not been any major arrests and people have seemingly gotten away with all their frauds and crimes.  This too will change and 2011 will represent a change in trend in this regard.  We have entered the terminal phase of this ponzi scheme economy and those responsible for its creation and its continued support at the expense of the vast majority of the populace will see their foul deeds rise to the surface. 

Earlier this year I wrote two piece that I think are worth re-reading and I have attached links to them.  The first was “A Time to Speak Out” http://www.zerohedge.com/article/time-speak-out and the second was the “The Elites Have Lost the Right to Rule” http://www.zerohedge.com/article/elites-have-lost-right-rule.  When I wrote these articles many of the themes addressed were completely out of the mainstream, yet in an amazingly brief period of time many of the frustrations I voiced are now popping up everywhere I look.  It’s strange and rewarding to see the topics I and countless others have been discussing on the “fringe” break into the light of day.  Now that these concepts are out there is no stopping the avalanche that is about to hit the oligarchs smack in the face.  As Gandhi said “An error does not become truth by reason of multiplied propagation, nor does truth become error because nobody sees it.”

This brings me to discuss what I think is one of the most important letters from an elite I have seen in 2010.  I am referring to Bill Gross’ most recent piece.  Now when I say he is an “elite” I am not saying he is part of some vast conspiracy to turn us further into serfs.  What I mean is he is one of the most fabulously wealthy people in America.  He also happens to have made his fortune in the financial services industry and runs the country’s largest bond fund.  This is a person that has every reason and incentive to play nice with the other elites and their corrupt institutions at the top of which lies the Federal Reserve banking cartel.  What he did in his latest letter was far from “playing ball.”  Here are some of the notable quotes and the entire letter can be found here http://www.pimco.com/Pages/RunTurkeyRun.aspx.

“Was it relevant in 2004 that John Kerry was or was not an admirable “swift boat” commander? Will the absence of a mosque within several hundred yards of Ground Zero solve our deficit crisis? Is Christine O’Donnell really a witch? Did Meg Whitman employ an illegal maid? Who cares! We are being conned, folks; Democrats and Republicans alike.”

“Perhaps, as a vocal contingent suggests, our paper-based foundation of wealth deserves to be buried, making a fresh start from admittedly lower levels. The Fed, on Wednesday, however, will decide that it is better to keep the patient on life support with an adrenaline injection and a following morphine drip than to risk its demise and ultimate rebirth in another form.”

“Check writing in the trillions is not a bondholder’s friend; it is in fact inflationary, and, if truth be told, somewhat of a Ponzi scheme. Public debt, actually, has always had a Ponzi-like characteristic.”

“The Fed, in effect, is telling the markets not to worry about our fiscal deficits, it will be the buyer of first and perhaps last resort. There is no need – as with Charles Ponzi – to find an increasing amount of future gullibles, they will just write the check themselves. I ask you: Has there ever been a Ponzi scheme so brazen? There has not.”

Ok, so what is Bill Gross up to you ask?  I will give you my two cents.  This guy is not as fabulously wealthy as he is for being a dope (although this cannot be said for a lot of people in this industry that are merely financial engineers that would become extinct overnight without 0% interest rates but that’s another story).  Bill Gross sees the writing on the wall.  He see the winds of change and is hedging his bets.  He is throwing out a carrot to those that criticize the completely corrupt and ponzi scheme economy and financial system we have today which benefits only those that speculate on the taxpayers dime.  We could end this fake and destructive economy by ending the Fed in its current form (at the very least everything they do must be transparent) and restoring the rule of law.  He attacks the false left/right paradigm and rightly points out that both the Democrat and Republican establishment have sold out the people to line their own pockets.  In the second quote he actually explores the notion that “our paper-based foundation of wealth deserves to be buried.”  Then finally he points out what many others have but almost no one is the mainstream ever admits.  The U.S. government is running a giant ponzi scheme with regard to its debt.  Hmmm do you want to own gold or treasuries?

Truth be told, what Bill Gross did in this letter is to create the ultimate hedge for himself.  He didn’t say these things earlier when they were just as true as they are today and certainly must have been clear to someone of his intelligence.  He said it now.  He said it now because he can see the writing on the wall.  The important thing is not that he ultimately defends what the Fed is doing (which he unfortunately does) but that he felt the need to hedge himself and distance himself from the system.  As he writes in the final paragraph, “We haven’t been around for 35+ years and not figured out a way to avoid the November axe. We are a survivor and our clients are not going to be Turkeys on a platter.”  Indeed, the axe is going to fall on the oligarchs and if you don’t want to be a turkey on a platter you had better choose sides and fast.   As the great Ralph Waldo Emerson wrote in his 1836 essay Nature, “There are new lands, new men, new thoughts.  Let us demand out own works and laws and worship.”  Well said sir, well said.   

All the best,

Mike

 

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Thu, 10/28/2010 - 19:40 | 684641 Cognitive Dissonance
Cognitive Dissonance's picture

I didn't mention what Ike said or didn't say.

And "industrial" has changed over the past 50 plus years now that a lot of it has been shipped over seas. Much, but certainly not all, of "industry" (which usually means medium to heavy) is now devoted to weapons manufacturer for domestic and export military use. Christ, even the ball bearing plants have been moved to China.

Industrial today is a shadow of what it was when Ike warned us.

Thu, 10/28/2010 - 20:19 | 684853 New_Meat
New_Meat's picture

CD-"Industrial" then often included the concept of "Financial" today.  e.g. GE has now "GE Capital" that is a fricken' "Bank Holding Company" and Immelt is a frequent visitor to the WH.

Shadow? Yes in domestic sense, but not when int'l considered.  Right now, the supply chain for any weapons system is hosed it it loses significant connectivity to suppliers across the pond and the ocean.  viz. e.g. PC motherboard fabrication.

- Ned

Thu, 10/28/2010 - 12:51 | 683652 FEDbuster
FEDbuster's picture

The "coup" has already taken place.  There can only be mutiny now by the troops.

Thu, 10/28/2010 - 18:00 | 684657 Adam Neira
Adam Neira's picture

"You take what you get and get what you please. It's better to die on your feet than to live on your knees..."

Power and the Passion - Midnight Oil

 

Thu, 10/28/2010 - 11:57 | 683461 SheepDog-One
SheepDog-One's picture

HA nice post!

Thu, 10/28/2010 - 12:18 | 683530 Rasna
Rasna's picture

I think you forgot <sarc on/>

Thu, 10/28/2010 - 12:45 | 683624 BlackChicken
BlackChicken's picture

Me human, U asshole.

Thu, 10/28/2010 - 13:25 | 683743 MeTarzanUjane
MeTarzanUjane's picture

BlackChicken not prepared for any types of thought experiments... You will slaughter easy like an Indian cow.

Thu, 10/28/2010 - 15:41 | 683778 BlackChicken
BlackChicken's picture

You know nothing about me, and sound like a fool/sissy/poser.

However, if the real intent of your 'statements' is to get people into thinking-ahead strategies, you may have succeeded; however, you have a real abrasive and kind of impish way of going about it.

A simple "what if" before your comments would have kept you from possibly breaking the junking record.

Thu, 10/28/2010 - 13:34 | 683777 Stun Gun
Stun Gun's picture

Hey Tarzan, come and try to liberate some of my emergency stores... I've got a little surprise waiting fo' ya. ;-\

 

Thu, 10/28/2010 - 13:52 | 683840 MeTarzanUjane
MeTarzanUjane's picture

Can you call me so we can discuss?

1-800-654-3550

Thu, 10/28/2010 - 14:36 | 683989 AbandonShip
AbandonShip's picture

1-800-OK-HELL-0 ??  What kind of stupid jungle number is that Tarzan?  Think of something better!

Thu, 10/28/2010 - 14:44 | 684016 MeTarzanUjane
MeTarzanUjane's picture

The gateway is hard to cross(but not impossible) for those who are just beginning the game. No worries, Jane is good at housekeeping and will sweep the porch.

Thu, 10/28/2010 - 14:11 | 683841 MeTarzanUjane
MeTarzanUjane's picture

We strive for 100% customer satisfaction.

Thu, 10/28/2010 - 11:44 | 683421 macholatte
macholatte's picture

 

A tipping point has been passed. Perhaps it was November, 2008. Perhaps there is some kind of Fibonocci cycle at play. Nevertheless, the question we must now ask is one of perception. Is the negativity of ZH real or is it just a magnet that brought a group of negative people to this location. My guess is that those of us who have been asking questions have stumbled upon answers that we don't like.

 

It's time to fundamentally change the way that we do business in Washington. To help build a new foundation for the 21st century, we need to reform our government so that it is more efficient, more transparent, and more creative. That will demand new thinking and a new sense of responsibility for every dollar that is spent.
Barack Obama

 

Thu, 10/28/2010 - 11:55 | 683454 goldfish1
goldfish1's picture

Blah blah do as I say...

The answers come only after the wreakage is cleared away and we see what's left.

Thu, 10/28/2010 - 12:09 | 683500 Sean7k
Sean7k's picture

Shill. Pure and simple. Obama has provided no new thinking, responsibility or transparency. He had the gaul to lie to Stewart when he said the cost of stabilizing the economy was 140 billion dollars.

ZH is a site that allows people to read and comment on alternative views. Your reflection that they are negative reveals your bias only. There is much on this site that is positive, including the posters that fail to be blindfolded and led to the slaughter.

This  inspires hope in me. The hope that not all people are blinded by the BS of the MSM. That there are intelligent people capable of profound analysis, because face it, the articles on ZH are provided by establishment and anti-establishment viewpoints. While it can be argued that it is not balanced- since when was "balanced" the goal of a news site? Since the propaganda machine decided it? This is the point of the first amendment.

 

Thu, 10/28/2010 - 12:22 | 683543 andy55
andy55's picture

Well said Sean!

p.s.  gaul -> gall

Thu, 10/28/2010 - 12:30 | 683576 SheepDog-One
SheepDog-One's picture

Unless the 'transparency' they meant was the outright blatant manipulation, fraud, cronyism and deceit, all out in the open for all to see!

Thu, 10/28/2010 - 12:45 | 683629 Widowmaker
Widowmaker's picture

You forgot multi-generational.  

The sausage is concealed in this transition (think of it as institutional memory, or lack of).

 

Thu, 10/28/2010 - 13:07 | 683698 Vernon Wormer
Vernon Wormer's picture

Very nice.

Thu, 10/28/2010 - 18:00 | 684658 macholatte
macholatte's picture

ZH is a site that allows people to read and comment on alternative views. Your reflection that they are negative reveals your bias only. There is much on this site that is positive, including the posters that fail to be blindfolded and led to the slaughter.

 

no disagreement except that perhaps the term "nagative" was a poor choice of words. Nevertheless, it's difficult to find anyone here who has an optomistic view, that things will be better and we'll be happier next year, that the government is our friend, that the people in power are doing their best to protect the public, etc.  And I'm not saying that the less-optomistic are "wrong". We need to find some kind of truth and if reality says that things are going badly, then they are, and that's not being negative, that's working at being realistic and making decisions based upon the best available information and trying to navigate around the storm if possible.

Thu, 10/28/2010 - 13:07 | 683696 Walter_Sobchak
Walter_Sobchak's picture

It's real dude. We aren't fucking amateurs.  Those fucking bitches are fucking us behind a smokescreen.  They pissed on your fucking rug dude.

Thu, 10/28/2010 - 16:22 | 684432 philgramm
philgramm's picture

Donny:  They pissed on your rug dude?

Walter:  Shut the fuck up Donny!!!  You're out of your element.

Thu, 10/28/2010 - 18:05 | 684664 Adam Neira
Adam Neira's picture

"My guess is that those of us who have been asking questions have stumbled upon answers that we don't like."

A bit like the final scene in "Planet of the Apes" peut être.

Fri, 10/29/2010 - 01:16 | 685197 Fearless Rick
Fearless Rick's picture

Allow me to clear up this matter. The tipping point came when George W. Bush was appointed to the presidency by the Supreme Court. Or did we all forget that slight coup d' etat?

More precisely, the tipping point occurred when SCOTUS did their dastardly deed and nearly everybody in the nation acquiesced.

That was the event which gave the oligarchs confidence that they could do whatever they pleased, and they did.

What is occurring now is the unwinding and the beginning of desolation and depression. I am sorry I cannot paint a brighter picture, but I see no way out of this without a great deal of pain, anguish and bloodshed.

Remain informed, stay your own course and help your neighbors of like mind.

Thu, 10/28/2010 - 11:52 | 683450 NumberNone
NumberNone's picture

A tipping point with no where to go in a country divided.  

Thu, 10/28/2010 - 16:08 | 684388 Milestones
Milestones's picture

I would suggest confused and mostly dumb in place of divided. My take only.  Milestones

Thu, 10/28/2010 - 12:08 | 683499 FEDbuster
FEDbuster's picture

How far down the curve do you think we are CD? 

Many think it end like the old game "The Straw That Broke the Camel's Back", where the last straw is added and the whole thing falls apart overnight (riots, looting, fires, martial law,etc...). 

 

Thu, 10/28/2010 - 12:33 | 683582 Cognitive Dissonance
Cognitive Dissonance's picture

The deeply conditioned mind will almost always dig deeper into its own conditioning as a form of self preservation of its own worldview and belief systems. And denial is an extremely powerful force, much greater than family or social ties.

We make a serious mistake when we assume that as conditions get worse, minds will awaken. In practice, the opposite happens and the conditioned mind falls into simplistic explanations and deep denial to overcome the "obvious".

We can not look at the great sleeping masses through our own eyes for to do so will give us just as false a view as theirs.

Thu, 10/28/2010 - 12:48 | 683637 FEDbuster
FEDbuster's picture

Agreed, but what would cause an "elite" like Bill Gross to share his "ah hah" moment with the world?  Is the author correct in assuming there is a battle brewing between TPTB?

 

Thu, 10/28/2010 - 13:24 | 683741 Cognitive Dissonance
Cognitive Dissonance's picture

Speaking only for myself, the biggest mistake I make is assuming that when I think about The Powers That Be I'm thinking about a cohesive but loosely bound collective. While there is most certainly a "greater good" achieved from working together, the elites by no means share a singleness of purpose and a common goal.

In many ways, the elite are as controlled as we are. Only for them, it's their wealth and greed that controls them. There is always tension and competition between the elite which results in big and small power struggles. I see Gross as simply taking a side in an as yet unseen, or unclear, battle line forming within or between the elites. At least unseen from my little spider hole.

Miles Kendig was talking well over a year ago about how at some point the professional/educated, even wealthy class, will begin to realize that they are also cannon fodder. When this happens, they will finally begin to push back. I'm wondering if this point has arrived or beginning to form.

I wrote an article last April called "Of Avalanches and Tipping Points" that discusses this as part of a bigger movement or turning.

http://www.zerohedge.com/article/avalanches-and-tipping-points

Thu, 10/28/2010 - 13:33 | 683772 Dr. Richard Head
Dr. Richard Head's picture

I think Max Keiser's ideas that there is now a  "circular firing squad" comprised of the bankster is a good possibility.  After these thugs have consolidated the wealth of 99.99% of the population, what else is there to go after?  The ego of these maniacs would NOT stop them from trying to be at the top of the heaping pile of theft; even if that means they start turning on their own.  If there are no greater fools available, what can these banksters do to continue feeding their need for theft?

I have a strong feeling that different factions of the elite are eyeing each other down in a Mexican standoff.  Could be wrong, but I love to dream you know.

Thu, 10/28/2010 - 15:33 | 684262 delacroix
delacroix's picture

carlos slim helu, has been fighting a hostile takeover, for years , aka mexican drug war

Thu, 10/28/2010 - 16:19 | 684422 Cathartes Aura
Cathartes Aura's picture

one of the defining characteristics of a psychopath is no loyalty except to the self - add zero remorse to that, and you can see where this is headed. . .

when "they" appear to turn on each other, it only reflects the fact that "they" will look to save their own skin, always. . . those who have looted and amassed will of course desire to be seen as on the side of those they have stolen from, and turn around to point at the "others" first. . .

should be mildly entertaining while we still have media to report it.

Thu, 10/28/2010 - 17:28 | 684591 Winston Smith 2009
Winston Smith 2009's picture

"one of the defining characteristics of a psychopath is no loyalty except to the self"

It's also a defining characteristic of the "persons" known as "corporations" (aka "our" government).

Thu, 10/28/2010 - 13:00 | 683674 prophet
prophet's picture

Well done. 

People will change when the "pain" from change is less than the "pain" of staying put.  The easy way out, the path of least resistance, and more to the point it just makes sense to move in a direction that one can assess as the most likely to produce a positive result and those positives need to be immediate and sequential.

Thu, 10/28/2010 - 13:43 | 683806 FEDbuster
FEDbuster's picture

Unless they are told to go to the Superdome by someone in a police car through a loud speaker.

http://www.youtube.com/watch?v=MSHr4ubuD64

Thu, 10/28/2010 - 13:10 | 683707 Walter_Sobchak
Walter_Sobchak's picture

People love to be lied to-until they don't.

Thu, 10/28/2010 - 18:07 | 684671 Adam Neira
Adam Neira's picture

Consciousness is a very nuanced thing. People's frame of reference can change in a number of ways. Prayer can do the trick aswell.

Thu, 10/28/2010 - 22:44 | 685061 Unlawful Justice
Unlawful Justice's picture

Drop the magic/religion elixir.  

No faith, no magic thinking, no prayer to a god that doesn't exists.

The sub-conscience/heart is really what your talk'n about.

Thu, 10/28/2010 - 12:17 | 683525 heyligen
heyligen's picture

The next QE as the new Stalingrad? Easy to get in, impossible to come out unscathed. Quantitative easing turning into quantitative defeat.

Thu, 10/28/2010 - 16:13 | 684406 philgramm
philgramm's picture

Agree wholeheartedly.  Empires fall and then many years later they fall.  The last one (USSR) fell in the late 70's when they became mired in the Afghan war (sound familiar?).  10 years later it collapsed "overnight".  The collapse of this empire occurred when Paulson stood on a podium and looked straight into our living rooms and essentially threatened to "collapse" the system if we didn't hand over $700B.  History will reveal this to be the moment when a precious few had already learned of the "collapse" but tried their best to keeep the rest of us in the darkness.  The readership on ZH refuses to be pawns.  That's why I come home each day welcome you all into my living room:-)

Thu, 10/28/2010 - 11:35 | 683384 TradingJoe
TradingJoe's picture

There will be other Mike, arising from the ashes, having the same lack of all traits needed to be a true human, there will be others coming, demanding, robbing, stealing to climb above and beyond law, ethics etc. This is just a blip in the universe of man, another storm to cool off the heads and re-assess situation, sure, some will go, some will stay and risk being obliterated, some will be, but then again, aren't we all part of this?

Thu, 10/28/2010 - 11:36 | 683391 peak experience
peak experience's picture

Nuanced observation. I'm inclined to agree with most of what you say. The long arc of recognition moves like a shooting star at twilight. It's pertabations suggesting awesome consequence but it's majesty rousing desire in the stunned populace. Desire for completion and yet wish to linger over the beauty of inexorable forces as the meteor slmas into the earth.

Thu, 10/28/2010 - 11:37 | 683393 HarryWanger
HarryWanger's picture

Remember the currency report that was supposed to come out and label the Chinese as currency manipulators? What was the new release date on that???

Thu, 10/28/2010 - 11:43 | 683416 Spalding_Smailes
Spalding_Smailes's picture

That can has been kick'd ...again.

Thu, 10/28/2010 - 12:09 | 683502 HarryWanger
HarryWanger's picture

I found it. It's after the G20 meeting 11/11-11/12. I thought it was after last weekend's G20 event.

Thu, 10/28/2010 - 12:23 | 683550 Spalding_Smailes
Spalding_Smailes's picture

It was going to be but they made a backroom deal, again. No large Q.E 2 the inflation is killing china/asia countries that peg to the dollar. Also oil/food/metals climb with a falling dollar. China manufacturing complex getting kicked in the teeth.

The market will now pull back to levels from 6 weeks ago or close to it.

 

Thu, 10/28/2010 - 14:19 | 683922 Spalding_Smailes
Spalding_Smailes's picture

No big Q.E. 2 coming .... China said no to inflation & Ben said ..."but the markets"....

BAOTOU, China — The Chinese government abruptly ended on Thursday its unannounced embargo of exports of crucial strategic minerals to the United States, Europe and Japan, although shipments to Japan still encountered some difficulties, four rare earth industry officials said.

Thu, 10/28/2010 - 11:42 | 683395 plocequ1
plocequ1's picture

I have my Hybrid seed bank , Canned tuna,Gold and Solar Generator all ready for if that DXY goes below that 70 mark. Im planting my Hybrid Carrots as we speak.

Thu, 10/28/2010 - 12:00 | 683474 theopco
theopco's picture

You should bring your computer inside, or put a tarp over it at night.

Thu, 10/28/2010 - 12:26 | 683563 HK
HK's picture

I think you want NON-Hybrid seeds, i.e. Heirloom seeds, the seeds of which can be used for the next planting season.  Otherwise, in agreement with you, got all the above.

Thu, 10/28/2010 - 11:38 | 683396 The Rogue Trader
The Rogue Trader's picture

Awesome....just awesome

Thu, 10/28/2010 - 11:40 | 683401 peak experience
peak experience's picture

what popped gold?

Thu, 10/28/2010 - 12:40 | 683608 mt paul
mt paul's picture

ya 

saw that 

what's up..

Thu, 10/28/2010 - 11:41 | 683403 Sean7k
Sean7k's picture

We shall see, we shall see. More important is the appearance of an alternative that recreates Liberty. Not a messiah. Not a person. A method of rule or organization of ideas that allow us to climb out from the rubble created by the elites. 

Revolution is not an answer to the inherent destruction, it is a process you pass through. What will be on the other side? Another elite gambit? An international coalescence? 

We cannot accept anything less than liberty and liberty is the polar opposite of government. 

Thu, 10/28/2010 - 11:57 | 683465 zaknick
zaknick's picture

This is what the fascists are good at: twisting reality to their advantage. The MSM must be abolished for their crimes and heavy penalties for misinformation institued.

 

Ben Franklin:

 

"A nation of well informed men
who have been taught to know and prize the rights
which God has given them cannot be enslaved.
It is in the region of ignorance that tyranny begins."


Thu, 10/28/2010 - 11:41 | 683404 yabyum
yabyum's picture

Take away happy meal and dancing with the stars (along w/Grandma's SS) and watch the big dogs eat.

Thu, 10/28/2010 - 11:42 | 683413 peak experience
peak experience's picture

great vajra name btw

Thu, 10/28/2010 - 11:41 | 683406 jswede
jswede's picture

meanwhile, today a "rumor of a massive buyer in 5-7yrs", and bonds are up 1/2 in that range....  but Gross would never talk his book.  never.

Thu, 10/28/2010 - 11:41 | 683410 Hansel
Hansel's picture

Good article Mike.  +1

Thu, 10/28/2010 - 12:17 | 683411 Mercury
Mercury's picture

All levels of society still needs to de-lever in a big way and to the extent that we don't do it ourselves, the universe will eventually do it for us...which will be even more painful.

None of this class warfare crap really changes that reality.

Besides, If Obama gets his way all these private sector oligarchs will simply become public sector oligarchs.

Thu, 10/28/2010 - 11:46 | 683414 Dr. Engali
Dr. Engali's picture

I agree that Bill is hedging, knowing that we are at that point. But I don't believe the American people will do anything that will disturb their slumber. It won't be until they can't feed themselves but by then it will be too late.

Thu, 10/28/2010 - 11:43 | 683415 Max Hunter
Max Hunter's picture

Good article.. We certainly live in interesting times. Brave men will begin to appear. Hopefully in large numbers.

Thu, 10/28/2010 - 11:47 | 683424 notadouche
notadouche's picture

The markets can stay rigged longer than I can stay liquid

Thu, 10/28/2010 - 12:32 | 683583 SheepDog-One
SheepDog-One's picture

Thats why Ive been out, because I can stay out WAY longer than they can stay printing!

Thu, 10/28/2010 - 11:47 | 683426 lynnybee
lynnybee's picture

I reached my tipping point a long time ago.  Unfortunately, my husband & adult children, my sister & my best friend all think I'm crazy.   They do not believe a word I say about what is happening & what is coming our way over the next few years.   They love OBAMA !! "He's such a good person & is the first black president & isn't he wonderful !", say my adult children.   

Thu, 10/28/2010 - 11:57 | 683466 Ricky Bobby
Ricky Bobby's picture

I am in the same boat. I am considered crazy by my family as well. I try and point out the propaganda and the lies but it is like pissing into the wind.

Thu, 10/28/2010 - 12:51 | 683654 merehuman
merehuman's picture

i must be past crazy. I maintain a body but look forward to not having the damn thing. Suicidal, depressed, no . Seen the beyond but have to finish my responsibilities here.

 

Thu, 10/28/2010 - 13:47 | 683820 Bob
Bob's picture

Kudos, mh.  Make it count.  Immortality is an option for no one. 

Thu, 10/28/2010 - 11:59 | 683468 Cognitive Dissonance
Cognitive Dissonance's picture

The deeper the conditioning, the more difficult the awakening.

There will be many C-section awakenings when their world comes crashing down.

Thu, 10/28/2010 - 13:14 | 683710 cougar_w
cougar_w's picture

C-section awakenings. That's an interesting concept as applied here.

To be forced into the world, when you are not ready and without all the tempering trials and preparations. Just your entire world violently sliced open and you torn screaming from it.

Do you read Kunstler? If not then you should. You don't have to follow his politics, but he would probably be amused by your idea of the C-section awakening.

Thu, 10/28/2010 - 13:32 | 683771 Cognitive Dissonance
Cognitive Dissonance's picture

I do read him. And while I find myself irritated by some of what he says, I find him interesting and his perspective unique. I agree he would find this concept right up his alley.

I've been considering an article with C-section awakenings as it's central theme. A lot of people won't like what I have to say because it might just be a little too close to home, particularly for those here on ZH who believe they are awake.

Thu, 10/28/2010 - 14:12 | 683909 cougar_w
cougar_w's picture

Heh. Might not like it? Ya think?

Thu, 10/28/2010 - 14:29 | 683969 Panafrican Funk...
Panafrican Funktron Robot's picture

I'd be very interested in this article.  Always looking for opportunities to peel away the onion.  I don't want the damn onion anymore!

Thu, 10/28/2010 - 15:40 | 684282 delacroix
delacroix's picture

even natural birth,  doesn't come without a little crying

Thu, 10/28/2010 - 16:27 | 684442 tip e. canoe
tip e. canoe's picture

all the more reason to befriend a midwife

or become one

Thu, 10/28/2010 - 17:32 | 684600 Winston Smith 2009
Winston Smith 2009's picture

I looked up the name and realize that I've read him before, too.  Just learned a great new word by reading his latest blog post - "anthropophagi."

Thu, 10/28/2010 - 23:02 | 685081 Unlawful Justice
Unlawful Justice's picture

" particularly for those here on ZH who believe they are awake."

You don't make the truth, you can only acknowledge it or reveal it.

Let us be free to make up our own dam mind CD, and don't try to save us from our selves!

Thu, 10/28/2010 - 13:56 | 683857 Cruel Aid
Cruel Aid's picture

Yea, good imagery there CD. Good metaphor. Many people are consuming away here and oblivious. Maybe they're not and it/bank balance doesn't matter when the music stops. Most people won't be prepared if it goes down like that.

Thu, 10/28/2010 - 12:29 | 683574 MagicHandPuppet
MagicHandPuppet's picture

I am in the same boat.  I suspect many of us who actually do research into this experience what you are going through with your loved ones.  I am much more quiet than I use to be.  I still give my loved ones hints about how to "profit" from some of this mess... if you can call it that.  Interestingly, the same people I was trying to convince to buy gold and silver since the fall of 2008 now object to buying precious metals because they are just "too expensive" now.  Several of my friends tell me that if they could now buy them for what they were priced in 2008, they would.  Duh.  When I talk about stocking up on storage food, they look at me like they are sincerely concerned about my mental health.  They look at me with pity.  The irony is that when I discuss corruption at the highest level I get responses like "well of course it's corrupt" or "well, I just vote for the lesser of two evils".  Only few of them have taken enough interest to actually look into the facts... and even this felt like it was to appease me.

 

Sadly, I have presented compelling information backed by research from others since 2007 to the smartest people I know.  I have convinced a total of two to research something for themselves, but they have done very little to prepare.  I have found a total of three others in all the people I know who had a clue to what is happening... and one of these thinks Obama is the anti-christ, and another is preparing for a mad max scenario.  The third is in shock and can't really cope with it.  Most everyone else I know are Obama-zombies.  One friend even called me a racist when I pointed out Obama's voting record as senator.

At this point I feel that the powers-that-be will get away with anything they want with little if any resistance as long as they keep our favorite sports and t.v. programs on.  The people are conditioned better than Orwell could have ever anticipated.

Thu, 10/28/2010 - 13:45 | 683812 Mariposa de Oro
Mariposa de Oro's picture

MagicHandPuppet,

I've had very similar experiences.  I think you're right about the tv programs, too.  I wonder if the folks that will run the fema camps will have outdoor theaters that will show sports games and 'reality' shows 24/7?  Combine that with free junk food and they won't need as many guards to keep the inmates in order.

Thu, 10/28/2010 - 16:50 | 684502 Cathartes Aura
Cathartes Aura's picture

I think your story will resonate with many here MagicHP. . .

personally, I've found that trying to explain what is happening in "financial" terms causes the eye-glaze-over, but if I nudge folk into being "prepared" for such things as freak storms, or earthquakes, or other "natural disasters" it seems to be more motivating. . . a simple thing like mentioning broken water mains might prompt some to buy a good water filtration system (*cough* Berkey), and few need much of a nudge to continue shopping food sales for storage, after all, it's shopping, eh?

I've given up trying to "convert" anyone, but continue to make myself and a few more aware of timings of events, while subtly encouraging those around me to be as prepared as they can be, so as not to have hysteria to deal with when things inevitably get messy. . .

Thu, 10/28/2010 - 20:37 | 684871 Island_Dweller
Island_Dweller's picture

The irony is that when I discuss corruption at the highest level I get responses like "well of course it's corrupt" or "well, I just vote for the lesser of two evils".

This is one of those things that I noticed a long time ago.  They see the corruption, stupidity, etc but somehow it's all going to magically be OK. 

Fri, 10/29/2010 - 00:33 | 685155 Arkadaba
Arkadaba's picture

I think there has to be a generational aspect to it. When I talk to my parents about this (both born in the 30's), they get it. They are worried about me and my siblings and the grandkids. When I talk to my siblings .... they don't want to hear what I'm saying. 

Thu, 10/28/2010 - 13:27 | 683753 Walter_Sobchak
Walter_Sobchak's picture

It sucks doesn't it, having your loved ones trust the boobtube more than they trust you.  I like to think of zerohedge as therapy.  Like fight club it is really Dissenters Anonymous.

Thu, 10/28/2010 - 13:36 | 683782 Mariposa de Oro
Mariposa de Oro's picture

Yeah, I hear that crap too.  It makes me sick.  WTF is wrong with them?

I just tell myself that the Denial is Strong in This One.  Then I quietly carry on with my preps.

Thu, 10/28/2010 - 16:27 | 684446 FEDbuster
FEDbuster's picture

You just have to let them go their own way.  There is no point wasting energy trying to convince someone of your views.  You will come off as a Jehovah's Witness trying to sell you salvation.  If some family that you couldn't turn away live within one tank of gas from you, your best bet is to buy some extra food for them in case they show up and forget about it.

 

Fri, 10/29/2010 - 01:41 | 685221 Mariposa de Oro
Mariposa de Oro's picture

I live on Kwajalein Atoll.  I don't think I have to worry about any family showing up, lol.

You're right about letting them go their own way.  Sometimes its really hard to do.

Thu, 10/28/2010 - 16:21 | 684430 A tumor named Marla
A tumor named Marla's picture

You should pull out your will and explain to your adult children just exactly what their beloved president is going to do to their inheritance.  I'll bet they change their tune once they see their future fiats disappear under a tax calculation.....

Thu, 10/28/2010 - 11:48 | 683427 Jean Valjean
Jean Valjean's picture

And yet, "there is nothing new under the sun."

And the True Laws remain the same forever.

So Ralph seems a bit confused to me and to use it to justify the article, which I agree with, seems upside down.  If anything, Ralph's words would argue for the creation of the corruption we currently have, not a return to the Truth which we seek.

Thu, 10/28/2010 - 12:17 | 683529 CrockettAlmanac.com
CrockettAlmanac.com's picture

Ralph is spot on and his words are appropriately employed in the article. The confusion is yours.

Thu, 10/28/2010 - 11:50 | 683435 Ricky Bobby
Ricky Bobby's picture

Mike you are an optimist, I expect we descend into a full on police state. The unwashed will be in the millions and they must be controlled for the good of the state and the elites. Resistance will be considered terrorism.

Thu, 10/28/2010 - 12:34 | 683587 SheepDog-One
SheepDog-One's picture

Yes that will happen quickly, at the point they see there is no way out, (maybe there right now) then they unleash their planned events to place us under 'extreme national emergency' lockdown.

Thu, 10/28/2010 - 12:38 | 683604 FEDbuster
FEDbuster's picture

That is already the case.  Homeland Security is targeting returning veterans, tea party members, anyone displaying the Gadsden flag and Glenn Beck Show viewers as potential terrorists.

Thu, 10/28/2010 - 12:52 | 683655 Widowmaker
Widowmaker's picture

Sadly, you are absolutely right.   Just look at the TSA (thieves stealing anything).   Have you ever tried to reason with their ignorance?

Imagine that times 50 as the only employment around is ratting on your neighbor, friends and family.   S-Sound familiar?

Thu, 10/28/2010 - 13:50 | 683832 Bob
Bob's picture

It behooves us to understand that alot of those men and women working for the Dark Force long for redemption as much as we do. 

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

 

Thu, 10/28/2010 - 11:50 | 683438 Clint Liquor
Clint Liquor's picture

Unfortunately for mankind, history has shown the masses to be amoral. They are lead to great good or great evil in time of crisis.

The tipping point has arrived, but where is the leadership?

 

Thu, 10/28/2010 - 16:32 | 684455 tip e. canoe
tip e. canoe's picture

look in the mirror

Fri, 10/29/2010 - 01:30 | 685211 Fearless Rick
Fearless Rick's picture

I can see Sarah Palin from my mirror.

Thu, 10/28/2010 - 11:50 | 683440 sunny
sunny's picture

Too bad the Tea Party went from a tax reform, economic sanity to Palin & Dumber-Than-A-Box-of-Rocks O'Donnell.  We need a viable 3rd & 4th & 5th political parties in the US.  As it is, it will take a minimum of 10 years to purge all the baffoons outta congress.  Gotta start real soon as it is. 

sunny

Thu, 10/28/2010 - 12:26 | 683509 Trifecta Man
Trifecta Man's picture

We don't need political parties.  We need justice.

It's time to start the demonstrations.

Thu, 10/28/2010 - 12:17 | 683528 crosey
crosey's picture

I've wondered who Pelosi has been blowing all this time.  I put her up there with Maxine Waters in terms of gross inability to grasp any sort of viable "big picture".

Palin is smarter than you think.  And she knows how to whip up a crowd.

Vote count for O'Donnell will indicate public sentiment...ala, rocks over incumbents.

Thu, 10/28/2010 - 18:40 | 684729 goldsaver
goldsaver's picture

I've wondered who Pelosi has been blowing all this time

 

Ewwww!!! Who could keep a hard on with Pelouzy's lips on it????

Thu, 10/28/2010 - 12:26 | 683565 weinerdog43
weinerdog43's picture

Funny that you are acquiring junks but no one has had the guts to try to refute your statement. 

Thu, 10/28/2010 - 13:56 | 683856 Vergeltung
Vergeltung's picture

nonsense needs no refutation.

Thu, 10/28/2010 - 13:36 | 683784 NotApplicable
NotApplicable's picture

You don't think that happened by accident do you? All institutions (or any collective) are the perfect vehicle for agent provocateurs to take a mass movement on a downward spiral of self-destruction once the agent eventually shows their incoherence.

Palin, and Huckabee before her, serve no other purpose but to divert human energy from true solutions, while discrediting ideas and diverting attention from them and their standard bearers, like Dr. Ron Paul. 

Otherwise, the herd would discover these true alternatives, and the con-game would cease to be effective. Instead we're surrounded by the controlled dissent that is nothing but noise.

Thu, 10/28/2010 - 17:47 | 684626 Winston Smith 2009
Winston Smith 2009's picture

Spot on!  The TPs have been effortlessly suborned by the reps.  Thus, the "choice" remains, effectively, one of two equally corrupt and owned major parties who swap the window and aisle seats on the taxpayer gravy train every few years by playing the wedge issue susceptable voter _idiocracy_ like the ball in a leasurely game of pong.

Thu, 10/28/2010 - 11:57 | 683460 buzlightening
buzlightening's picture

Lock'n load!!  Why do we assume freedom by any less blood than our forefathers!! The refiners fire upon us and it will burn as an oven!  So the truth goes marching on in the millennium!!  Stand for something or fall for anything!! Freedom rings

Thu, 10/28/2010 - 12:24 | 683555 CrockettAlmanac.com
CrockettAlmanac.com's picture

"Wild liberty develops iron conscience. Want of liberty, by strengthening law and decorum, stupefies conscience." -- Ralph Waldo Emerson's Politics

http://www.panarchy.org/emerson/politics.1844.html

Thu, 10/28/2010 - 13:52 | 683839 Bob
Bob's picture

Beautiful. 

Thu, 10/28/2010 - 14:33 | 683982 SheepDog-One
SheepDog-One's picture

Yea people think we'll see some virtual revolution thru computers or something. Nonsense. 

Thu, 10/28/2010 - 11:58 | 683462 Fraud-Esq
Fraud-Esq's picture

Zero Hedge is a great source and activist site. Tyler, since there are ZERO prosecutions today compared to 1,000 prosecutions in Bill Blacks days, I offer this thought...

The only people left to defend the people are "citizen attorney generals" aka RICO plaintiffs and CIVIL lawyers. That's THE frontline today. There is no other. The DOJ is sleeping with their eyes open. I'm not just talking my book either. 

In my industry, most banking lawyers work for the banks or white collar defense firms. Tort lawyers are not up to speed. Some are, 95% are not. 

Suggestion box: A subsection of this site, a clearinghouse of your articles and other source information (complaint) exclusively about all post 2008 CIVIL litigation against banks. That would be great.   

Thu, 10/28/2010 - 12:04 | 683491 Bob
Bob's picture

+100

The most powerful single action that the public can (and would be willing to) do, imo, is to participate in an organized Show Me The Note campaign. 

That would provide the lawyers with the material they need . . . while arming the citizens to do their part immediately in bringing the banksters to their knees.

Thu, 10/28/2010 - 13:47 | 683819 NotApplicable
NotApplicable's picture

I would recommend participating in an unorganized campaign, as the organized one surely is nothing more than a trap, being created by a political org d.b.a. SEIU.

My guess is they will find a way to taint the process, eventually rendering your efforts null and void. Or perhaps, even if they don't break everything, they will use it to increase their political leverage in DC? Either way, you will be empowering yet another mindless, soulless collective.

Besides, QWRs aren't that difficult to write (google is your friend). The SEIU is just trying to get some skin in this game.

Thu, 10/28/2010 - 13:53 | 683846 Bob
Bob's picture

Suppose ZH were to spearhead such a campaign?  Time is short.

Thu, 10/28/2010 - 14:02 | 683875 Dagny Taggart
Dagny Taggart's picture

Put me on the list, Bob. I have a 2:30 appt with the V. P. of Commercial Loans at my local bank requesting that they Show Me the Notes. I have a few MERS follow up questions I jotted down, just in case someone wants to get sassy. Wish me luck.

Thu, 10/28/2010 - 14:27 | 683964 Bob
Bob's picture

Word. 

Thu, 10/28/2010 - 14:17 | 683927 NotApplicable
NotApplicable's picture

Obviously the blogosphere itself could be utilized as a spearhead, driving awareness of the problem.

I'd like to see a solution implemented without harvesting everyone's personal info. For instance, instead of filling out a web-form with your info and submitting it to a server to generate a letter, a fillable pdf form could be used that would not require data submission to a 3rd party.

Thu, 10/28/2010 - 14:24 | 683949 Bob
Bob's picture

Perfectly reasonable concerns.

It remains to be seen where our community and its leader stand on this one.  But, I repeat, time is short

Thu, 10/28/2010 - 15:06 | 684124 Rusty Shorts
Rusty Shorts's picture

Bob, I think you might enjoy this little video, once you get past the first couple of minutes, it's very imformative.

 

http://www.youtube.com/watch?v=FMEe7JqBgvg

Thu, 10/28/2010 - 15:17 | 684178 Bob
Bob's picture

Thanks, Rusty, that's what I'm talking about.  No matter how corrupt the environment I've confronted throughout my entire life, at least 1/3 (strange coincidence, that) have always understood the score.  And been ready for better. 

Thu, 10/28/2010 - 16:51 | 684504 Rusty Shorts
Rusty Shorts's picture

Jeeesh, wrong link Bob, sorry.

http://www.youtube.com/watch?v=FqrZeC2ee0k

Thu, 10/28/2010 - 18:55 | 684745 Bob
Bob's picture

JHC.  You trying to bum me out, Rusty?  What to say about that one.  Exterminate the FIRE economy before it takes us down?  Damn. Actually, that sounds fine with me.

Thanks for the first video, btw.  It has proven useful already.  Extinction, otoh, I'll have to mull over for a while! 

Where does that notion take you?

Thu, 10/28/2010 - 20:07 | 684836 Rusty Shorts
Rusty Shorts's picture

No, not trying to bum you out, just a notion of reality. Extinction,, bit of an extreme view, albeit in my opinion, a remnant will pass through the "eye of the needle" so to speak.

Thu, 10/28/2010 - 17:43 | 684619 tomdub_1024
tomdub_1024's picture

3 of us are trying...from my email thread:

I have forwarded the graphic from T1000 and my response to him, basically the idea is in the thread: http://www.zerohedge.com/article/fraudclosure-update-crowd-getting-restl...
I have server 2003 with .NET 3.5 and only MSSQL 2000 at this time  (which is why I'd prefer php/mysql, but I am an OS agnostic admin...:)
Let me know what you think, still need a domain registered though...
Thanks!
tomdub_1024

Thu, 10/28/2010 - 21:34 | 684950 Bob
Bob's picture

I saw that, take a look at my feedback.  A domain is only $7-8 bucks.  I wonder if Tyler would be interested in taking this on directly, though.  The traffic is here already. 

Thu, 10/28/2010 - 22:50 | 685069 tomdub_1024
tomdub_1024's picture

Traffic is here already, AND, if I remember correctly, their server(s) are off-shore...

Thu, 10/28/2010 - 12:08 | 683501 magis00
magis00's picture

 

http://stopforeclosurefraud.com/

and

http://4closurefraud.org/

and

http://www.frauddigest.com/indict.php

 

As a 3L who follows ZH closely but has no means to "stock up" for imminent social changes, CIVIL actions are my plan.  If this all deflates like a flan in a cupboard for 4 or 5 years I'll get mine.  If not --  FEMA camp for me :(

Fri, 10/29/2010 - 01:40 | 685219 Fearless Rick
Fearless Rick's picture

I'm with you. Personally, I am just waiting for BofA to go into some form of bankruptcy/receivership. That would likely buy me another 2-3 years, maybe more. Meanwhile, taxes get paid up to date and their claims on my property diminish. Eventually, I'll file for quiet title or ride out the requisite 10 years and claim adverse possession.

That's if I still haven't used all my ammo and the roving gangs take me out. Middle class really is caught in the middle.

Thu, 10/28/2010 - 11:58 | 683467 Milestones
Milestones's picture

I wrote a few days ago that we, as American are in the gun sights of history. The band is putting away the instruments; payday has arrived. We must now stand, fight and win or we will be cutting bait for the forseeable future.

The fight is very winnable-the elite thru shear cupitidy have given us the weopon to bust this wide open with the mortgage fiasco.

To the politicians I would offere this proposition: how much is money worth if you must look over your shoulder--forever.

All that is necessary to win is to participate in the downfall. Focus on the prize!!      Milestones

Thu, 10/28/2010 - 14:26 | 683960 Bob
Bob's picture

It ain't rocket science, Milestones.  Thanks for focusing our eyes on the ball.

Thu, 10/28/2010 - 14:26 | 683962 NotApplicable
NotApplicable's picture

The only fight that is won, is the fight that is avoided. I don't disagree with you about their cupidity, but about what it means.

First off, this financial disaster was all intentionally designed from the beginning. To believe that they don't have the next step of the disaster designed as well is to misunderestimate (I love that word) their cupidity.

They have only ever had one play in their playbook, which is to destroy our ability to survive without them. No matter what the masses do, they are firmly trapped in the clutches of the money masters, regardless of how many of their puppets the masses manage to take out in the upheaval.

Thu, 10/28/2010 - 15:56 | 684343 Milestones
Milestones's picture

N.A. I agree this thing was meticulously orchestrated; and therefore contains the seeds of it's own destruction. It's called entrophy. The more organized a thing is the more potential there is for disorder. All it takes then is just one small thing to destroy a plan potentially.

"A horse, my kingdom for a horse--- For want of a nail a shoe was lost--" Julius Cesear" by the Bard I believe (going from a lonooog ago memory) It's the little things that end up bitting ya in the arse.

With Trillions of dollars on the line the elite cut corners on nickles and dimes.

We the people would be far better off to zero in on this item; we have the law, 25,000,000 unemployed and 11,000,000 homes under water and these folks have a very good reason to be in the street very shortly--befor Christmas.

All we need to do is everyone call their congressman and Senators (3 calls maybe 2-3 times in a week) and remind them that accross the land this is hunting season.  Milestones

Thu, 10/28/2010 - 12:00 | 683472 DoctoRx
DoctoRx's picture

The title told me the post would be off target.  The money printers are winning. 

Thu, 10/28/2010 - 13:22 | 683730 SheepDog-One
SheepDog-One's picture

The money printers can only extend their own demise for a short time, if at all.

Thu, 10/28/2010 - 12:05 | 683475 williambanzai7
williambanzai7's picture

The tipping point...

Michael Caine is Bill Gross.

Thu, 10/28/2010 - 12:25 | 683521 Bob
Bob's picture

Wow.  Kudos, mon artiste

Nice representation of the gold bug survivalists vis a vis the need for collective action as well.  Either we swim together or sink alone. 

Thu, 10/28/2010 - 12:39 | 683603 lynnybee
lynnybee's picture

L.O.L. !!   I've never seen that movie !   That was my good laugh for the day & I'm actually get the joke, too  !!

Thu, 10/28/2010 - 12:00 | 683477 economessed
economessed's picture

When the awareness of the tipping point achieves critical mass, many will discover in themselves a sense of empowerment and act.  Why?  Because fear is one hell of a motivator.

In the mean time, we incrementally deliver the units of critical mass.

Thu, 10/28/2010 - 12:04 | 683488 Tic tock
Tic tock's picture

Well look, there's a lot of cheap land in the world - some of you finance guys sort yourselves out and buy a thousand acres in a free country, set-up a constitution and it could be a new model city-state.

Thu, 10/28/2010 - 16:43 | 684485 FEDbuster
FEDbuster's picture

Zerohedge's "Gault's Gulch"?  Now those would be some interesting city council meetings!

Thu, 10/28/2010 - 12:05 | 683489 A Man without Q...
A Man without Qualities's picture

When it was reported that Pimco was buying up RMBS, many, including ZH, assumed they had a secret signal from the Fed that they intended to monetize these.  I took a different slant on this, and thought Pimco understood the degree of fraud that had been perpetrated by the banks and was throwing its weight behind efforts of investors to seek compensation.  I think Gross has realized that the banking sector has become a parasite living off the global economy with an appetite far beyond what the host can support.  The big banks need breaking up because there are too many parts that are causing great harm to the economy.  Many or most of these bankers see no shame in what they do, they feel no remorse for those they cheat and steal from.  Not all bankers are like this, but they know they must turn off such emotions, or convince themselves it is ok, because they are doing it for "their family", or they will stop once they have made a certain sum of money.

Since we should assume sociopaths cannot comprehend altruism, nor will they change their behavior, it is only through something like the mortgage fraud chaos that the rest of society has the hammer with which to smash the machine they have constructed.

Thu, 10/28/2010 - 14:56 | 684083 Panafrican Funk...
Panafrican Funktron Robot's picture

PIMCO has some 10th degree black belt lawyers as well.  You're right on here, buy the garbage at a discount and then make them pay the garbage back at "par value".  The yield on such a play could hit in the hundreds of billions.  GS, JPM, and C are actually pretty well protected here, BAC and WF are in for a pretty epic beating.  They've always hated BAC, and Warren is about to hand over the reigns to a relative unknown who will be a convenient, boring fall-guy when their WF holdings implode.

Thu, 10/28/2010 - 12:07 | 683490 cswjr
cswjr's picture

Dollar down, stocks down, bonds down, gold up $20.  On a POMO day no less (albeit a small one).  Yeah... it's over.

Just one week until the 5th of November, too.  How ironic would that be?

Thu, 10/28/2010 - 12:05 | 683494 sweet ebony diamond
sweet ebony diamond's picture

Come on guys. Smarten up.

Bill Gross is a genius like no other.

A Central Bank is ABSOLUTELY NECESSARY.

Follow the path of your shit from asshole to processing area to wherever it ends up after that.

HOW MUCH DOES ONE HUMAN DUMP COST?

Thu, 10/28/2010 - 13:42 | 683798 Ms. Erable
Ms. Erable's picture

A Central Bank is ABSOLUTELY NECESSARY.

To whom? For what purpose? To what end?

Thu, 10/28/2010 - 14:25 | 683956 sweet ebony diamond
sweet ebony diamond's picture

[Let's see if I can get more junks on this post.]

Americans need energy - how much does Nuclear Power cost?

Americans need health care - how much does Health Care cost?

Americans need justice - how much does Justice cost?

Americans need education - how much does Education cost?

I am starting to make sense.

Thu, 10/28/2010 - 14:44 | 684019 tmosley
tmosley's picture

Nuclear power-government=cheap.

Health care-government=cheap.

Justice-government=Actual justice.

Education-government=cheap.

For large, capital intensive projects, you need a bank NOT a central bank.  Banks pool capital and loan it to responsible people with solid plans and good ideas.  This leads to the creation of things like waterworks, railroads, and yes, nuclear plants.

All central banks to is print money.  Any idiot can do that.  Not every idiot can back it up with gold, and neither can a central bank, for that matter.

Of note is the fact that a single person actually built a working power plant by himself from old smoke detectors and plumbing supplies.  Of course, he also killed himself with radiation, but that would have been avoided if government regulation had allowed him to hire even just one safety specialist.

Do NOT follow this link or you will be banned from the site!