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Krieger On Peak Government
From Michael Krieger of KAM LP
Peak Government
All quotes below are taken from a Bernank paper written in 1999 titled “Japanese Monetary Policy: A Case of Self-Induced Paralysis?”
Although it is not essential to the arguments I want to make—-which concern what monetary policy should do now, not what it has done in the past—-I tend to agree with the conventional wisdom that attributes much of Japan’s current dilemma to exceptionally poor monetary policy-making over the past fifteen years.
Indeed, as I will discuss, I believe that a policy of aggressive depreciation of the yen would by itself probably suffice to get the Japanese economy moving again.
On the issue of announcement effects, theory and practice suggest that “cheap talk” can in fact sometimes affect expectations, particularly when there is no conflict between what a “player” announces and that player’s incentives.
Suppose that the yen depreciation strategy is tried but fails to raise aggregate demand and prices sufficiently, perhaps because at some point Japan’s trading partners do object to further falls in the yen. An alternative strategy, which does not rely at all on trade diversion, is money-financed transfers to domestic households—-the real-life equivalent of that hoary thought experiment, the “helicopter drop” of newly printed money.
Franklin D. Roosevelt was elected President of the United States in 1932 with the mandate to get the country out of the Depression. In the end, the most effective actions he took were the same that Japan needs to take—-namely, rehabilitation of the banking system and devaluation of the currency to promote monetary easing. But Roosevelt’s specific policy actions were, I think, less important than his willingness to be aggressive and to experiment—-in short, to do whatever was necessary to get the country moving again. Many of his policies did not work as intended, but in the end FDR deserves great credit for having the courage to abandon failed paradigms and to do what needed to be done.
What Did You do Tuesday Night?
Well you probably had a lot more fun than I did. I spent part of the later hours of the evening reading a paper written by The Bernank in 1999 titled “Japanese Monetary Policy: A Case of Self-Induced Paralysis?” While I have never doubted for a second that this man will print the dollar into oblivion, I have been shocked by the amount of players in the market that have fallen for what I like to call the “Bernank Bluff,” which simply is my view that he needs cover to print more and therefore will tell the market he is going to stop while QE2 is still in action so that he can push undesirable asset price inflation down (commodities) while continuing to print! I went and read this paper to confirm what I already knew about this man. Namely, that he is an extremely dangerous psychopath who believes proper monetary policy can save the world from all ills and he is the superman that will implement the appropriate policies for the first time in history. This is how he sees himself. In reality, he is nothing more than a parlor magician brainwashed by his own bullshit and who is doing nothing novel, but rather the same thing all bankrupt governments have done since the beginning of time. He is merely printing money and causing devastating inflation, yet he seems to think he is the first person to come up with this idea!
As you can see from the first quote above, he basically blames Japan’s woes on bad monetary policy. He doesn’t take into account the prior booms and bubbles and amazingly can’t seem to comprehend Newton’s third law of physics that each action has an equal and opposite reaction. But indeed it is this simple inability to understand the basic laws of the universe that has poisoned the economics profession around the world and has spread to the thinking of governments. This faulty Keynesian religion is exactly why our politicians believe in this preposterous notion of the higher the nominal GDP growth the better and makes them think they can take on infinite amounts of debt with no consequences. Remember this is the same man who also blames the entire Great Depression on monetary policy failures. He probably thinks bad monetary policy caused the Japanese tsunami. The reason this man is so dangerous is he really believes his own crap. He really does think he has figured it out. Just like the guy that comes up with a “system” to beat the casino. Unfortunately for The Bernank, the house always wins and he will go home just as penniless and discredited as that poor sap after his intellectual pockets are emptied out. Except unlike the gambler the whole world will witness The Bernank crash and burn and it will be written about for centuries to come.
Ok, so back to the speech. As you can see in third quote above The Bernank talks about how “cheap talk” can be used successfully by Central Bankers. This is KEY. This is exactly what these bozos are doing when they say no more QE. It is a boldfaced lie and they know it. People in the markets will believe anything. Do investors do any critical thinking anymore? Next, in quote four he discusses how basically Centrals Banks can directly or indirectly just give money to households. Is this the form QE3 will take? It will be interesting to think about. Or maybe that is QE4. In any event, both are coming whether disguised as something else or not.
Finally, there is the last quote and this is a real winner. He basically shows all his true colors. He cheers FDR as some sort of god when in reality the U.S. NEVER got out of the depression in the 1930’s and in fact stagnated as a result of this polices like the 1933 confiscation of the American people’s gold (money). This is the key. He singles out the one president in American history that CONFISCATED THE PEOPLE’S MONEY. The Bernank is a fascist and he is confiscating your money right here right now by slaughtering the purchasing power of the dollar right under your nose. Baaaah.
So What is Bill Gross Talking About?
So the biggest bond guy on the planet, the same guy that has repeatedly been saying there won’t be QE3 apparently “tweets” that the Fed could actually move to rate caps on 2-3 year treasuries which is actually QE to infinity (as predicted by me and many others). So why would he tweet this rather than just wait until his next monthly letter? Well he is a pretty connected guy and there is a Fed meeting next week. He also isn’t the type of fellow that likes to look like a fool in public so clearly he wanted to put this “out there” so he is seen as on top of things. While many people are talking about this, people don’t seem to be getting the joke. If this is indeed the Fed’s next step, it is a game changer beyond game changers. First of all it would mean a policy to print infinite money if necessary without having to announced further rounds of QE. Even more importantly, I am willing to bet that wherever the Fed announces a rate cap along the curve will be exactly where the Chinese holdings of treasuries are situated. The Chinese probably told Tiny Timmy Geithner and The Bernank that they want out and this would guarantee them an out at the highs! It’s brilliant. Plus, with the terms of trade going against China and other Asian nations as a result of higher commodity prices, this will provide much need cash to then go buy up resources all over the world. This would make commodity prices absolutely explode through the roof as China would without a doubt use a lot of this money to buy the necessities of life and then subsidize them at home to quell unrest. How is no one talking about this!
Peak Government
While I spend a lot of time highlighting TPTB’s plan to form a world government, currency and central bank that doesn’t mean I think they will succeed. In fact, just as Wall Street played their hand too aggressively after being bailed out and are now going to go down for the count this round, The Powers That Be have also played their hand way too aggressively and not only will their dream of planetary control through a global fiat money system run by them completely fail, but their policies will fail so spectacularly and publicly that it will lead to what I call ”peak government.” Governments right at the moment are as big as they will ever be in our lifetimes. This is in my opinion a great thing for humanity and freedom but the transition to more localized rule of law will be tricky. We must be rational and help the sheep out as their world crumbles around them. They will be scared and looking for mommy. Governments won’t be in a position to help so we will need to do the heavy lifting.
Peace and wisdom,
Mike
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Yea nothing really new about the New World Order, just the same old elites doing what they always did just on a grander scale.
Excellent analysis, thank you Mike.
Unless "public sector" pension plans are completely remade/clipped, our "peak government" is going to remain at peak in nominal cost terms for decades, while the active workforce (?) and services (??) continue to decline. You may or may not get something for nothing, but government is living proof of getting nothing for something.
re: "the transition to more localized rule of law will be tricky"
Try "bloody".
What the breakdown of the state and law & order means is a return to the law of the jungle. Those with the biggest guns will simply take from everyone else and dictate terms for survival. You cannot have a "peaceful" or "orderly" breakdown of society in 21st century America.
Think: Mexico
In America, the cops will be the worst gangs around. They have the best organization and infrastructure, they have the illusion of law behind them, and the people are already preconditioned to obey.
all this as they continue to dig, tunnel and build the bunkers
The establishment of a world government with the enduring technological means to exert total control over its inhabitants will require a massive die-off.
Resource scarcity will mandate the die-off.
The trick will be to engineer the die-off without losing the technological know-how to impose total dominance, without setting off a worldwide conflagration.
They want today's civilization with a tenth of the population, much more manageable. And the goodies don't run out. And they still get to get off on their power trip. And they still get to snatch/buy all of the good babes.
Stealth biowarfare might be a mode to get the job done.
Resource scarcity is only there because we haven't developed the needs for it to not be.
Fusion Arc
+
Universe
= no shortage to a species that can grab them
I think we can be that species.
But not with monetarism at the helm backed by arguments of sophistry.
(their way there would still be a depletion, and they would be slitting their own grandkids or great, great grandkids throat...into bushmen)
But the elite don't need a brain, they always have 'money' to cover up that they are idiots. But diabolical plans can't escape their idiocy.
The oligarchs killed the space program and SETI because they don't want us to be inspired. They are scared shitless of Space Wild West and the freedom we would discover out there. There would be no way to rein us back in and they will never outshine a civilization they don't control. The result would be something like what America did to Old Europe. They would rather have a feudal slave planet forever. We need to burn these assholes and claim our manifest destiny by building the colony ship New Jerusalem!
p.s. There's no idiocy, only malevolency from the higher powers that appoint the useful idiots.
re: "Stealth biowarfare might be a mode to get the job done. "
SEE: "...advanced forms of biological warfare that can “target” specific genotypes may transform biological warfare from the realm of terror to a politically useful tool."
--REBUILDING AMERICA’S DEFENSES
Strategy, Forces and Resources For a New Century
http://goo.gl/gLzS2
that was a heady scroll through, thanks for the link.
the P-NAC boys are still tumescent it would appear.
From what I hear a lot of them don't like "babes". Search male porn stars bohemian grove. Great people with your best interests at heart.
Tuco
Notice in all this they dont mention pumping stock markets....they wont have to as no one sees the centerpiece of 'QE for 2 year bonds' will be paid for by seizing 401K's and pensions.
It is funny though when Banksters control the gov't, people bitch at the conduit, and not the source. The imbalances don't just come from the system, but the OLIGARCHS putting pressure (the ability to) upon a system. The same can occur in a pure gold/silver system. You need a system which limits these pressures, and educate the populace (and by extension the world over) of how to protect from it.
What FDR did was Glass-Steagall and WPA and associated WEALTH BUILDING. Then in turn private sector had the means and the foundation to take over. But it took a generation and a world war. Then we spent the next almost 70 years destroying that trend and the foundation built from it. (by the same banksters that made FDR's actions so neccessary.)
Gov't at this point (and not what it is supposed to be) is just a conduit for Banksters and corporations. It's not correct in 'peak gov't, when it is gov't of, by, and for the oligarchy. It's peak monetarism, or peak oligarchy, or peak sophistry. The peak of the oligarchy's monetary sophistry. But an oligarchy can still run a gold system, and can still confuse the people with sophistry. They own gold/silver AND the monetary system.
Monetary policy is the policy of banksters and the oligarchy they represent. It's just levied 'legally' by Gov't...which if in absence would just be implemented without gov't.
Many idiots forget that when there is a fucked up boom, and it collapses, it can take DECADES to get out of. What sophistry.....oh fdr didn't get out of the depression in the 30's.
As if God himself could do that. (as if a gold system would have done that). It's just the same dogma from idiots that used to believe in a different system's dogma.
FDR confiscated the gold because gold has no value in the wealth of a nation. It doesn't. It's a metal. Barely used except for jewlery.
That doesn't mean I'm anti gold, because TODAY we live in a world where gold, due to it's nature of being a physical medium that cannot be 'printed', can be used as an alternative currency in lieu of having a sound system in place. So people will always seek to find soundness somewhere, so I do not blame anyone for wanting to protect themselves. But there can be a point where people turn from that to worshipping gold/silver so much and becoming so invested in it, they get greedy, and become like banksters trying to destroy through gold what the bernank would destroy through debt...making some people close to the same level of evil as those they lambaste. It's ok if we destroy it, because you started the destruction? It's idiotic. The key is not having any destruction at all.
Gold will never be ACTUAL money to 7 billion people, it cannot be divided enough to be used as such. Anyone that conceeds to a massive culling of the population is just as insane as Bernanke and the rest of the idiots since mankind CAN indeed use their brain to PUT IN PLACE a set of rules that HAVE ALREADY EXISTED and proved their point. We could invent something, but why do we? It's already been invented centuries ago.
People are fucking idiots. He confiscated the gold, as a way to break the backs of those elements within wall street that wanted some way, any way to continue their own 1920's boom. As soon as gold was fixed, they could convert to gold and take it out of the country. (and why the confiscation from the plebes? Have you seen cash 4 gold? It's not hard for foreign entities to open shop and funnel the gold out of the nation) Because then when a nation has no gold, if the oligarchs succeed in their plans, then when TSHTF, there is no backup. So he was protecting America's stockpile of gold (between nation-states) WHILE the situation calmed down....but of course monetarism had to go through WWII (a monetary war) in order to calm down first. Only idiot MK doesn't see the whole 1913-1945 period as one monetary adventure and destruction period. And just when we got over it, Harry Truman fucked up and gave imperialism new life....allowed it to fester until a new generation of idiots sprang up to allow Nixon to take us off the gold standard (and the conditions he was forced into via Vietnam and our balance of trade...thanks France and England for tricking us into YOUR imperialist war and then screwing us out of sound-er [but still frn] money).
No one should want 200,000/oz gold, because even a fraction of that means a new dark age. What you want, is sound money...and sound money doesn't need to be gold, it just has to be controlled SIMILAR and in many ways LIKE gold inherently has as a finite material (given our tech [meaning in the end not even gold will enjoy what it currently enjoys as finite). Where you print for needs on a macro level, not for fraud. Where you increase it based on actual economic gains, not on speculation and increasing of debt.
ANy idiot that cannot see the difference is no better than Bernanke, they are just hawking their own form of idiocy.
TPTB own a lot of gold. If only gold becomes money, guess who STILL OWNS you. The same that own the fiat monetary system.
What roosevelt did is break the backs of the speculation (and I'm not talking run of the mill type which is fine and inherent in any investments) by not allowing them to arbitrarily change the prices of thigns via gold....now that their wall street scams had been stopped, as our fixing to the price of gold in a MONETARY world, we would not allow others to print more monetary fiat to convert into dollars, to steal our gold. The confiscation came as a result of WHAT TPTB would do to us, if we did not protect it. What was the greater evil in a world and time period FULL of evil? It was a one off event as long as we didn't allow monetarism to rear it's ugly head again. Now that we have, we'll have to see how things play out, to see if such evil-ness is needed to thwart even more evil.
As long as we are IN a monetary system, ride the gold wave up, but again remember, if it gets too high to support an economy, what the hell is the use? Protection? From what, our own idiocy to stop the herd? It's retarded.
We can have sound money, we just need to ditch the monetarism. Gold remains something of value, just not something to influence the other...thus fixed. Not against other fiat currencies which are printed to steal our gold. The world without monetarism would not need gold confiscation, but we aren't there yet are we. Especially since we now have decades of idiots who STILL believe in monetarism.
A real American gov't, not the british imperialism we copied in recent decades/century, is what is needed. Not every man for himself with some scraps of gold.
If things fail, sure you want to have those scraps, as they will be valuable. But in order to diffuse the situation, since you'll be richer in a non-dark age world without outrageous valued scraps of metal, then actually having those actual scraps of metal outrageously priced during a new dark age, one needs to understand that a sound system needs to be put in place, and the price of gold must be FIXED to an appropriate level, and protected from foreign outflows.
A rich man couldn't buy a new computer in 1900, and neither will a person in 2050 if we let a new dark age happen, regardless of how much gold someone has.
People are focusing on the wrong thing. It's not about protecting oneself on the front burner, that's on the back burner. The front burner needs to be used to focus on keeping a system that allows for a proper physcial economy based on real wealth to be conducted with proper units of account. Then in the back ground if you want gold, by all means, buy gold/silver. But once we establish the first, be prepared for a drop in usefulness of the other. We should only be so lucky if we can get it to play out like that.
But the main focus should be on averting disaster as a whole. Our secondary focus should be on protecting ourselves if we cannot succeed. There is no real reason why we can't.
We need Glass-Steagall
I'm not anti-gold, and I realize we still live in a monetary system, and I realize that what we need, doesn't always happen. But we have no choice but to make it happen.
I also understand that we need a real system, that works for the people, for the shop owner, for the worker, so our needs get met. That future needs are accounted for. That the human mind, time, blood, and sweat is sufficiently allocated to creating the conditions for which our future needs are met.
The people's money is what they people determine is money. The people in the 20's and 30's didn't have gold. The oligarch and banksters did. Not as an absolute, but on a relative scale, the one that matters on the macro.
The people were living in squalor. 5 cents to pick a basket of peaches. Or that's what the Grapes of Wrath taught. Gold wasn't valued at a low level, given those prices, it was valued rather highly at 32/oz. Of course the 5 cents was a depressed price, but even at a more normal price...32/oz could be seen as approrpriate, given the monetary world we were living in then. But this time, we have a chance to knock monetarism out the WORLD OVER, and thus today we can go down a different path as opposed to what FDR did, given that the British Empire today, doesn't hold the sway it did then. People are more informed, and have more rights the global world over. The information flow is there to force monetarism to its knees, and as such, the confiscation doesn't need to happen, given the world as soverigen (and remains as such) nation-states agree to conduct it's economic affiars as a world of nation-states of mutually agreed upon interating credit systems.
MK forgets this. Even now it's not the people's money, as no one can afford it. If no one is able to 'afford' money, how is it the people's?
Money is just a unit of account, one which has no account any more due to monetarism. This is because banksters fucked it up. What MK is saying is that human beings cannot be trusted or enlightened enough to develop a system and maintain that. I disagree with that. This time, given the tech and info flow, once the spotlight has been shown on what we have, we can protect it going forward, because it can be known to all the corners of the world, and not just spoken openly in one land, while under hush breathed in every other.
Gold has little use in a functioning economy, it's always a SHTF or jewlery metal.
The key is preventing TSHTF, and we can prevent TSHTF, but we actually have to put into place the policies that will keep TS From HTF.
It starts with Glass-Steagall and a return to policies that enhance the American Physical Economy utilizing the American (Hamiltonian) Credit System.
Gold will not be a zillion an ounce under that system.
Again, gold could be that way under our current system. You will not live a better life than today with gold being a zillion dollars an ounce (might as well use a ficticious number).
The key is knowing that at some point...the ENTIRE distortion (from which gold's price arrises from) will be over. At that point, we either have New Dark age, nothing is produced, little exists to be bought, and people can live like it's 1500's and be a king (which we all live better than today)....or a system where mankind actually moves forward instead of treading water the last few decades and which gold is not priced very highly and is FIXED to the value of the dollar. You then since that price needs to be low, cannot allow a few people to horde it all, and then try to crash the system again so that they are the big winners of nothing. But without monetarism, the printing for hording gold will not occur. (but I'm open to looking into making sure going forward)
It's not very hard, but MK is just a slightly smarter sheep as compared to the other sheep, that still spouts his sophistry as being superior to others' sophistry as he views the history through a monetarist's lens, even if he tries to break from it, his viewpoint is decidely that of a monetarist. He's unrealistic that gold can be used as the general unit of account. There needs to be paper used...backed by gold.
A gold standard is one where gold is fixed, the currency is redeemable in gold, but there is no use of doing so, since the dollar would be inherently stable (not federal reserve note). Using actual gold for currency is idiotic and unrrealistic, unless there's only a few million people on this planet. (something we can never allow to occur)
Then we must endeavour to protect ourselves from the monetarists who would have us go through this ruin all over again. That protection against monetarism should be taught along side our constitution as the way to best protect it.
It's not about gold vs fiat, because what we have is monetary's system's VERSION of fiat (vs. gold) and how every day it does INDEED make gold a viable alternative WHILE under a world controlled of and by monetary systems, until such a point where everything collapses and gold will buy you but a scrap of what fiat can buy you today. Otherwise here's your crown King Nothing.
If there was enough gold to make a system work, I'd be fine with it, but there isn't. That's why we need paper, we just need to secure it's value by not allowing monetarism or federal reserve to weaken it for debt. Money created, and then soaked up by actual wealth creation, protects against inflation. Thus while it's not perfect, a very slow rate of inflation is manageble, not ideal, as we should always strive to slow that down, but it's the misallocation of constant booms and busts that has really devalued our currency, especially through debt creation to soften a move into a bust or as a tool to funnel wealth towards a certain group of people.
Credit creation needs to happen, for real wealth creation. Water, power, food, housing, all the things an economy provides, needs to be allowed to be created, and sometimes as shown through great works, like Panama Canal, Hudson River, Railroads, Highways, etc....now as desalinization, nasa, nawapa, mag-lev, damns/levees, fusion, etc. With such additions, the amount of wealth a nation has increases. If stable amount, the currency is strenghted, and a natural deflation event is created, a continued amount of events would be a series of events that created a series of deflation events. If the amount of currency increased slightly, then the amount of currency slightly increased while the amount wealth of a nation increased creating a relative stability, but not exacting.
There is no way for gold to be 'allocated' for these measures, and thus they wouldn't be done. No system can survive, the human race cannot survive without such projects being undertaken by the world over (as a constant nature). But specifically we focus on us and our needs, and empower others of all nations to do the same.
The reason MK is wrong, is because he obviously is viewing things from the wrong perspective. It's still much closer to Bernanke, than what the world needs. His system won't work, just like what we in USA would term Bernanke's won't work (even if it is imported and anti-american by its very nature).
That's my take. Buy gold/silver as long as this monetary system persists. But try to force a different system (American Credit System)
Sell when printing slows
Buy when the printing starts again
And be prepared to lose whatever amount in order to actually right the system and world....or you are no better (no EFFECTUAL amount better) than Bernanke.
We need to take back control from the banksters...and put it back where it needs to be AT ALL LEVELS. Federal, State, AND LOCAL have all been plundered. They ALL need to be restored...instead of each pulling up power from the lower to feed the Monetary beast.
Glass-Steagall
American Credit System (hamiltonian)
NAWAPA/FUSION/NASA/MAG-LEV....and the list goes on and on. All benefit US and add to OUR wealth....and we better do it before we collapse everything, or use up everything. So NOW!
I disagree.
I'd believe the Sunnyvale trailer park is governed better than most western democracies now days.
if you wld like a "wall of worry" upgrade, see Scorpio69, and otherz, above >^<...
Good article.
But... you really should have clarified this quote for folks who "don't get it":
he discusses how basically Centrals Banks can directly or indirectly just give money to households
When Bernanke, or any other bankster, says "give money", they mean LEND money. That's right, EVERYTHING Bernanke and the rest of the predators-that-be and predator-class do is to get people DEEPER INTO DEBT... whether directly and personally, or indirectly via governments they are obligated to bail out via submission to permanent slavery.
Oh, sure, Bernanke and Obama might actually give people some so-called "free money" to buy votes for the next presidential election. Hey, Bush sorta did that already with so-called "tax rebates", so how can the republicans (except RonPaul of course) complain? However, that "freebee" will be so tiny as to be laughable compared to what they've been doing for the predator-bankster class... AND... any popular "giveaway" will cost people even more in inflated prices than what they received... which is just one more predatory bankster-politician scam.
-----
The experiment in central government and central banking is an absolute, complete, utter failure. And therefore, now is the time to enthusiastically embrace an experiment in...
PEAK LIBERTY.
Exactly right. Every Federal Reserve Note issued is a debt instrument owed to the privately held Federal Reserve.
That's why they promote war. They lend money to both sides. Great gig is you have no conscience!
Tuco Benedicto Pacifico Juan Maria Ramirez
Repeal of glass-steagall, let the bankster spectacle begin and now may it be nearing its conclusion. the repeal of the repeal may be a spectacle as well.
bread and circus, circus and bread
It is absolutely pointless to talk about this guy. He has an agenda and he was choosed to do whatever is required from him. Ben Bernanke, Jammy Dimon, Loyd Blankfein - they all one and the same person (sentence borrowed from Keiser Report E155).
So what is the Agenda behind destroying the dollar and other paper currencies?
Today I visited a public park, whose previous owner was mr. Rothschild.
I thought, why he and hes family were so successful.
The secret is: secrecy and intelligence - staying ahead of the curve.
So what are the masters doing now?
1) Rothschilds bought lately a weather forecasting company Weather Central.
2) Since some years they do not take part on gold fixings on LBMA ( the purpose of fixing is price suppression ).
3) ..who knows..
They need first hand information on weather to be ahead in agribusinesses. They don't take action in suppressing gold because they have it !!!
They go long commodities and short paper.
So prepare accordingly and ride the trend.
Yes, secrecy, intelligence and EEEEEEEEEEEEEEEEEVVVVVVVVVVVVVVVVVVVVIIIIIIIIIIIIIIIIIIIIIILLLLLLLLLLLLLLLLLLLLLLL!
They are demons from hell!
Tuco Benedicto Pacifico Juan Maria Ramirez
pwning the weather, ahead of schedule *nods*
no, no we're not in a one world gov't yet. Ever heard of the east-west balance of power?
which was not dissolved by the USSR break up-- it just went to moslem countries. This Russian/Iranian pact is interesting. Just wait for Gomer (Germany) to enter into it, with Armenia (or Turkey) and Somalia and there you have it, an alliance to invade Israel with the largest land army ever amassed. which will not succeed by the way.
Great essay, Mike. One of your best yet.
Very perceptive on the Bernank ... though he has no autonomy and is still just "following orders" (notwithstanding that he was selected precisely because of his knowledge of the Great Depression and therefore his ability to "do it again"!).
I'm not so sure about Peak Government, though. This time around, China and Russia provide much stronger base camps than during the previous attempts to implement world communism (as a planned step on the way to world feudalism). The current battle between the Oligarchy and the People could well see much stronger government (full-on fascist dictatorship in the US; full-on communist central planning in Europe) before we exit this tunnel.
End the Feds!! (FRB & Fed.gov)
Ah, there was an error in translation. You were referring to a fiscally conservative politician which really doesn't exist (maybe Rand Paul).
I was referring to your average citizen who is fiscally conservative.
You are one of my favorite reads. On track again. Milestones
Tyler, have you heard about the documents "accidentally" leaked by China CB about the Chinese officials and government employees that stole billions?
http://www.marketwatch.com/story/china-central-bank-finds-officials-stole-billions-2011-06-17?link=MW_home_latest_news
I actually like the idea presented here of Peak Government. I believe ultimately the powerful centralized collective state will fail and be rejected over time. My hope was in the next 500 to 1000 years...and that I would be reincarnated to see it. I would like to remember who I am/was now so I could enjoy it, but that's not so important. I wonder with the proliferation of information if it won't happen much earlier, especially with the wholesale breakdown of the current system.
One can dream.