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Mike Krieger On The Death Of Globalization, The Death Of Currency And The Death Spiral

Tyler Durden's picture


Submitted by Mike Krieger of KAM LP


They had then learned how easy it is to issue it; how difficult it is to check its over issue; how seductively it leads to the absorption of the means of the workingmen and men of small fortunes; how heavily it falls on all those living on fixed incomes, salaries or wages; how securely it creates on the ruins of the prosperity of all men of meager means a class of debauched speculators, the most injurious class that a nation can harbor,—more injurious, indeed, than professional criminals whom the law recognizes and can throttle; how it stimulates overproduction at first and leaves every industry flaccid afterward; how it breaks down thrift and develops political and social immorality. All this France had been thoroughly taught by experience.

Everything was enormously inflated in price except the wages of labor. As manufacturers had closed, wages had fallen, until all that kept them up seemed to be the fact that so many laborers were drafted off into the army. From this state of things came grievous wrong and gross fraud.

-  Andrew Dickson White, “Fiat Money Inflation in France”, How it Came, What it Brought and How it Ended

Where the road is dark and the seed is sowed
Where the gun is cocked and the bullet's cold
Where the miles are marked in the blood and gold
I'll meet you further on up the road

Further on up the road
Further on up the road
Where the way dark and the night is cold
One sunny morning we'll rise I know
And I'll meet you further on up the road.

-  Bruce Springsteen, “Further On”

Globalization is Dead

I debated whether or not to write today.  To be completely honest I feel as if I have said as much as I can and don’t want to start sounding like a broken record.  That said, we have clearly entered the next stage in this tragic circus called the global monetary and financial system death spiral.  The final stage comes when the system consumes itself as a result of its refusal to reform and we are there now.  The fact that most people are completely unaware of it or have such strong “normalcy bias” they can’t see what is directly in front of their faces is immaterial.  It is here, it is irreversible, and it will unleash a cyclone of chaos and confusion that will leave many literally suspended in disbelief as the entire false paradigm most of humanity has lived under for their entire existence is washed away forever. 

Last week, I wrote about what is happening in Egypt and what it means.  The key point I want to emphasize is that there is no going back from where we are.  The notion of stocking up on the limited food and resources available today is no longer theoretical for governments it is a matter of survival.  While many wake up in cold sweats with the memories of 2008’s commodity crash and the concurrent U.S. dollar rally fresh in their minds, these nightmares are misplaced.  The U.S. dollar has been hyper-inflated since 2008 and the only thing that has kept commodities under wraps has been the absence of a sudden and violent mobilization of those dollars into real goods.  Since so many of these dollars are sitting at the central banks of governments around the world, they key was always what would spark governments to mobilize those reverses.  The spark has been food supply shocks and revolution at the periphery of the American empire.  The gun is cocked, the bullets are cold and the heretofore benign tumor that we call the dollar will puke its malignancy all over the world at once in desperate attempts to own something that will have value in the next monetary system.  The days of governments playing nice with one another is long over.  This is the survival stage and every decision that is made from officials from here on out will be entirely self-serving.  You want to go long protectionism.  Globalization is dead.

So now I want to discuss the Korean Won.  For a very long time I have maintained that we would know we are at the big turning point when the Asia currencies start to properly break out versus the U.S. dollar.  Asian central banks and many others have been resisting a major appreciation of their currencies for two major reasons.  First, their entire economies have been based on the export to the West model.  Although this makes no sense any longer as they are the creditors and those in the West are the debtors, old habits are hard to break.  Secondly, China has refused to budge in any meaningful way and so the other nations don’t want to give China a free ride.  If China was forced to appreciate in a big way all the other Asian nations would immediately follow suit.  I always like to look at this Won-Dollar cross since South Korea is one of those exporting nations that imports virtually all of its resources.  So as resource prices surge and export prices do not keep up the terms of trade start going against them hard.  One option to fight this that has been resisted is a strengthening currency.  I have always said at some point they will be forced to bite the bullet.  As you can see from the chart below the Won has recently strengthened considerably and is close to some serious resistance (the chart is inverted).   

Korean Won vs. Dollar

It’s not just the Koren Won though, take a look at the chart below of the Dollar versus Asian currencies Index, Bloomberg ticker ADXY.  This looks like it is about to bust out.  The dollar is completely collapsing and nobody is knows it!  Sadly, many of the allocators of capital in this world are among the most brainwashed people on the planet.  No guts, no imagination and no ability to see outside of the box.  I don’t feel bad about what is coming to them and their reputations but I feel extreme sadness for the fate that awaits their clients.

JP Morgan Asia Dollar Index

Crimes Against Humanity

I believe that many of the executives of the major financial institutions on this planet and their puppets in government and central banking from earlier this decade and into today have committed and continue to commit crimes against humanity.  Their crimes are subtle and hard for most to understand.  As Keynes quoted Lenin to have said: 

Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth.

Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become "profiteers," who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.   

The subtleties of their crimes do not make the perpetrators any less guilty nor the consequences any less severe.  That said, we must be careful and deliberate as this thing plays out to not let our passions get out of hand as they have in so many similar circumstances in world history.  The next stage coming from the corrupt “leaders” in place will be a crackdown on commodity “speculators” as governments try to take the moral high ground like the bunch of disingenuous crooks many of them are.  This will potentially push people out of futures and into physical precious metals and these will move to heights completely incomprehensible to most.

For all those out there whether in government, financial institutions, or elsewhere that are “playing along” and making fortunes at the expense of their fellow humans I do not know how you look at yourselves in the mirror in the morning.  You may look and think you are master of the universe but no one else sees you that way.  The world sees you as the greedy little pigs that you are and the universe has ways of dealing with this kind of karma.

Further on up the Road
I love Johnny’s version.

Stay safe and warm,


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Thu, 02/03/2011 - 16:23 | 932215 tellsometruth
tellsometruth's picture

Keep free thinking and telling some truth

Thu, 02/03/2011 - 16:27 | 932232 tellsometruth
tellsometruth's picture

make em nervous put them in your cell phone, just enter your zip:


yes i call yes it feels feutile, until it isn't...come on zh commenting here won't be enough


Thu, 02/03/2011 - 16:39 | 932294 ZackLo
ZackLo's picture

I've tried many times can't even get one of them on the phone.I still try though.

call your attorney general about the forclosure crises.

Thu, 02/03/2011 - 17:38 | 932532 tellsometruth
tellsometruth's picture

Could not help myself... I just got on the air on the LarsLarson (local conservative talk host and national host too) show painting the picture of JP morgan...Mentionned todays unsealing docs of complicitness...cftc & manipulation of PM lawsuit... and profiting from food stamps and flipping bonds...Lars Larson said it sounded like the authorites are on the case and asked me what I wanted...My re: people to inform themselves and be free thinkers, and speak cell cut our or I was taken off the air

ZH start doing some heavier lifting with what we know...peacefully try to enlighten please


Thu, 02/03/2011 - 17:49 | 932581 tellsometruth
tellsometruth's picture

Is this shit a thread killer? Do you think I am crazy for speaking out that way? Anybody else doing the same? Productive or not?   Or is somebody just gonna put troll beneath this or -1...

Thu, 02/03/2011 - 21:53 | 933381 clymer
clymer's picture

Man Mike..

"I debated whether or not to write today.  To be completely honest I feel as if I have said as much as I can and don’t want to start sounding like a broken record.."

~leads to this:

"The gun is cocked, the bullets are cold and the heretofore benign tumor that we call the dollar will puke its malignancy all over the world at once in desperate attempts to own something that will have value in the next monetary system."

Dude, that is like a holding a straight flush, and looking at the table, all bleary-eyed and beat, and throwing a few chips at the table with a disgusted, defeated expression, and then laying the cards down.

Keep writing.


Thu, 02/03/2011 - 23:28 | 933659 jeff montanye
jeff montanye's picture

you are right.  don't stop tst.

Thu, 02/03/2011 - 23:41 | 933696 tellsometruth
tellsometruth's picture

thank you for the words of encouragement...

step up zh readers!

Thu, 02/03/2011 - 17:51 | 932594 hbjork1
hbjork1's picture

Congresspeople only have 24 hours like everybody else and have a lot constituants going in different directions for the various pieces of legislation being considered. 

The concenious Representatives may keep a "count" of contacts for and against a given piece of legislation. 

If they don't recognize your name, at least it is a count.

Thu, 02/03/2011 - 17:51 | 932597 hbjork1
hbjork1's picture

Congresspeople only have 24 hours like everybody else and have a lot constituants going in different directions for the various pieces of legislation being considered. 

The concenious Representatives may keep a "count" of contacts for and against a given piece of legislation. 

If they don't recognize your name, at least it is a count.

Thu, 02/03/2011 - 17:52 | 932599 hbjork1
hbjork1's picture

Congresspeople only have 24 hours like everybody else and have a lot constituants going in different directions for the various pieces of legislation being considered. 

The concenious Representatives may keep a "count" of contacts for and against a given piece of legislation. 

If they don't recognize your name, at least it is a count.

Thu, 02/03/2011 - 16:31 | 932253 Cheesy Bastard
Cheesy Bastard's picture

And prepare.  The death spiral feels a little tighter today.

Thu, 02/03/2011 - 16:37 | 932286 Turd Ferguson
Turd Ferguson's picture

Sorry for the spam but if you're trading PMs and not reading tfmetals, you're missing out:

Thu, 02/03/2011 - 17:11 | 932410 hungrydweller
hungrydweller's picture

Why would I "trade" my precious metals?  I save that for fiat based paper assets. 

Metals are for holding, not trading.

Thu, 02/03/2011 - 17:55 | 932611 RockyRacoon
RockyRacoon's picture

Turd rules!  Thanks for your blog.

Thu, 02/03/2011 - 22:16 | 933454 hardmedicine
hardmedicine's picture

so good to see you Rocky!

Sat, 02/05/2011 - 08:04 | 937161 Hephasteus
Hephasteus's picture

And it's good to see you too hardmedicine.

Thu, 02/03/2011 - 18:04 | 932654 hbjork1
hbjork1's picture

Sometimes people don't know that they are giving the gift.

Thu, 02/03/2011 - 20:11 | 933061 razorthin
razorthin's picture

Don't you mean FUBB instead of FUBM? Fuck U Ben Bernanke!

Thu, 02/03/2011 - 16:35 | 932272 AZSovreign
AZSovreign's picture

Just listen to this, it is truly food for thought

Thu, 02/03/2011 - 21:41 | 933337 BigJim
BigJim's picture

Yes, I got all excited about the GET calls yesterday... they talk the talk and seem to walk the walk. Gold and PM-backed currencies! The end of the Rothschild, Morgan, Lombard, Rockefeller stranglehold on debt-based currency issuance! The end of the Fed! You name it, they decry everything we love to hate.

But on further investigation, it appears they are part-and-parcel of the 'Dinar scam':

Thu, 02/03/2011 - 17:51 | 932596 SgtShaftoe
SgtShaftoe's picture

Agreed.  Mike Krieger misses the point I think, or get's it half right.  This is the end of something, but not exactly globalization.  It is the end of the world as we know it... and I say GOOD RIDDANCE!  It's the end of a generation pillaging the future of others.  It's the end of the primacy of national governments and the beginning of humanity being put first... Just how I see it.  It may be a bumpy ride though in the meantime:


Thu, 02/03/2011 - 18:20 | 932714 In Fed We Trust
In Fed We Trust's picture

Yo Mike,

Brillant piece. I noticed last week you mention the V posters in Boulder Co I guess on Pearl St, when out dining?  I was thrilled to hear you live in BOulder, as do I. I was wondering if you would be up for coffee sometime? Tea Cup? We can talk of starting a local ZH chapter that meets in person.  You may have see my post in 2008 Let me about meeting up. And no it wasn't me with the V posters.

Patrick the Painter

Thu, 02/03/2011 - 16:27 | 932235 faustian bargain
faustian bargain's picture

Aw c'mon man. Don't worry, be happy.

Thu, 02/03/2011 - 16:30 | 932250 gorillaonyourback
gorillaonyourback's picture

did someone give you a bannana? lolol just lookin at your picture

Thu, 02/03/2011 - 16:37 | 932280 Slipmeanother
Slipmeanother's picture

In the land with no bananas the man (or monkey) with one banana is King

Thu, 02/03/2011 - 16:47 | 932317 faustian bargain
faustian bargain's picture

It's me every morning, reading the news headlines.

Thu, 02/03/2011 - 17:57 | 932621 RockyRacoon
RockyRacoon's picture

Looks like an enema face.  Of course, the news is the same thing.

Thu, 02/03/2011 - 16:42 | 932302 DoChenRollingBearing
DoChenRollingBearing's picture

Both!  Be happy!  Prepare!

Thu, 02/03/2011 - 16:47 | 932318 Kaiser Sousa
Kaiser Sousa's picture

"dont worry be happy was the number one Jam

damn if i say it you can slap me right here..."

Chuck D of Public Enemy from "Fight The Power"

Thu, 02/03/2011 - 19:16 | 932919 hardcleareye
hardcleareye's picture

Good song to listen to while reading ZH.

Thu, 02/03/2011 - 21:45 | 933353 philgramm
philgramm's picture


I like it but this is a better song to listen to while reading ZH

Thu, 02/03/2011 - 23:07 | 933605 Founders Keeper
Founders Keeper's picture

[Chuck D of Public Enemy from "Fight The Power"]---Kaiser Sousa

PE? That IS old school.


Thu, 02/03/2011 - 16:29 | 932240 NOTW777
Thu, 02/03/2011 - 16:33 | 932269 Atomizer
Atomizer's picture

It's all about ratings. There are countless examples, here is one.

Fake CNN Gulf War Reporting 



Thu, 02/03/2011 - 16:30 | 932244 cougar_w
cougar_w's picture

we must be careful and deliberate as this thing plays out to not let our passions get out of hand as they have in so many similar circumstances in world history.

Why? No seriously, why don't we want that?

Thu, 02/03/2011 - 17:12 | 932416 dearth vader
dearth vader's picture

Wait for the dead-cat bounce. At least, there must be one!

Thu, 02/03/2011 - 17:35 | 932521 Calmyourself
Calmyourself's picture

Excellent question.  The passion of a few have changed the world in the past and they will again.  It is about time to release the men of passion to achieve real change.

Thu, 02/03/2011 - 19:12 | 932907 hardcleareye
hardcleareye's picture

Because a Demagogue can lead you down very destructive roads.  Hitler was a man of passion, and he did achieve change (not all change is good), but at what cost.......

Thu, 02/03/2011 - 18:43 | 932807 DosZap
DosZap's picture


Trust me, No One wants it to come to that, but KNOW that there are millions ready to rock and roll, should there be no choice.

Unfortunately, the tree of liberty must be from time to time refreshed with the blood of tyrants and patriots.


Thu, 02/03/2011 - 22:37 | 933517 Bringin It
Bringin It's picture

DosZap says - Trust me?!? 

DosZap you out yourself as a zinophile whore for Israel [ie. "I love Zionism", "I support Zionism"] and then here you say you're ready to ready to rock and roll and shed some blood of tyrants??? 

Who are these tyrants you're ready to go up against?  I'd love to know as most of the Tyrants I can see appear to be, like you ... self identified Zionists.

Maybe it's the patriots you're getting all jazzed about killing?  Conflicted is what you are.


Thu, 02/03/2011 - 16:32 | 932256 buzzsaw99
buzzsaw99's picture

The Lord Blankfein hath chosen the bernank to lead his banksters out of Egypt and into the promised land. With liberty, and clownbux for few.

Thu, 02/03/2011 - 20:14 | 933072 razorthin
razorthin's picture


Thu, 02/03/2011 - 23:44 | 933703 tellsometruth
tellsometruth's picture


Thu, 02/03/2011 - 16:32 | 932259 treemagnet
treemagnet's picture

heard it, seen it, get it.  when's the VIX gonna spike? 

Thu, 02/03/2011 - 16:33 | 932264 Jason T
Jason T's picture

Thanks for writing Mike.  Great points to consider about asian currencies.

Thu, 02/03/2011 - 16:50 | 932338 Eternal Student
Eternal Student's picture


Thu, 02/03/2011 - 16:38 | 932288 Atch Logan
Atch Logan's picture

Everytime there is a crises, you "world is ending" guys screams the world is over.  You trot out a bunch of facts (with which you have provided numerous times before) and which this crises applies to.

Even if one agrees with you that in the long term you a probably correct, in the short term you are inevitably wrong and it weakens your overall argument and, frankly, wears people out, makes you look bad, and also makes you and those who agree with you look like nuts.

Let things happen.  Let the end come, and then crow.  Then jump on a box and say "I told you so."

Frankly, I am as sick of this shit as I am of Bernake, Obama and their poodles.


Thu, 02/03/2011 - 16:50 | 932336 rubearish10
rubearish10's picture

LOL, funny shit man. Your sentiments are echoed succinctly. 

Thu, 02/03/2011 - 21:56 | 933395 philgramm
philgramm's picture

What's wrong with repeating the realistic point of view.  It seems that CNBS, HarryWanger, Cramer, Bernanke, Geithner all seem to be repeating the "everything is fine" view.  ZH is one of a few places that gives you an opposing view than the TPTB.  Do what you like with the information but it holds a much needed place in the conversation 

Thu, 02/03/2011 - 23:45 | 933704 tellsometruth
tellsometruth's picture

freethinking is important

Thu, 02/03/2011 - 21:57 | 933398 philgramm
philgramm's picture

What's wrong with repeating the realistic point of view?  It seems that CNBS, HarryWanger, Cramer, Bernanke, Geithner all seem to be repeating the "everything is fine" view.  ZH is one of a few places that gives you an opposing view than the TPTB.  Do what you like with the information but it holds a much needed place in the conversation 

Thu, 02/03/2011 - 16:51 | 932343 HarryWanger
HarryWanger's picture

Well said. At some point they will be correct. I have argued that is at least 20-30 years away. Are you prepared for a few more decades of "the world is ending"? If not, you may want to limit your visits here.

Thu, 02/03/2011 - 17:07 | 932396 Henry Chinaski
Henry Chinaski's picture

I just read a very convincing article detailing all of the reasons collapse is imminent.  It reinforced many of the themes here on ZH.  You would have to be a fool not to prepare accordingly and immediately.  I would post the link, but it is not available online because it pre-dates the internet. 

Thu, 02/03/2011 - 18:06 | 932662 trav7777
trav7777's picture

we're IN the collapse. The collapse of Rome took centuries.  Ours may take a long time too.

Expecting some sudden eruption of a new zeitgeist is unwise

Thu, 02/03/2011 - 18:45 | 932812 Eternal Student
Eternal Student's picture

Actually, I would respectfully beg to differ. It really depends on what you mean, and how you look at it. But IMHO, the collapse of the Western Empire was rather quick. Over the span of a century; within two at the most.

I would agree that the recognition of the fall took much longer. Heck, even the reconquest of North Africa was viewed as "liberating" Roman Citizens in the 6th century.

I'm not trying to quibble here. Rather, I wanted to point out that the view of a functioning Western Roman Empire lasted a lot longer than the reality did.

Fri, 02/04/2011 - 00:27 | 933793 UncleFester
UncleFester's picture

I think all of you have an overblown opinion of the size and strength of the Anglo-American (Rockefeller-Rothschild) empire, and what will happen when it goes away.  It will not end in a bang...because it is already over!  You, me and everyone else is just waiting for the 'official' announcement.



Thu, 02/03/2011 - 17:17 | 932427 EscapeKey
EscapeKey's picture

Historically, Debt/GDP, debt/taxation, monetization, deficit rates all disagree with you.

So you essentially argue this time is different.

Thu, 02/03/2011 - 17:26 | 932463 pods
pods's picture

Well Harry, the 3rd world is not really agreeing with your forecast.

It starts at the margins.


Thu, 02/03/2011 - 19:48 | 932995 redbud
redbud's picture

If armageddon arrives here, my guess is that the coastal metro areas will be on the news first. 

Fri, 02/04/2011 - 00:30 | 933799 UncleFester
UncleFester's picture

Which coast will toast first?

Thu, 02/03/2011 - 23:48 | 933711 tellsometruth
tellsometruth's picture

valid points are brought up by harrywanger (counter points,) and are important here

Thu, 02/03/2011 - 16:59 | 932377 Max Hunter
Max Hunter's picture

Let things happen.  Let the end come, and then crow.  Then jump on a box and say "I told you so."

Yeah.. That's the honorable thing to do, rather than opine about what's going on and run the risk of actually informing people.

Those of us that see this like to know that others see it as well and the world is not made up of ONLY HarryWankers.

You knew what the article was going to be about, therefore, you didn't need to read and add your shitty and more importantly, worthless comment..

Thu, 02/03/2011 - 17:37 | 932525 Shell Game
Shell Game's picture

+10  Again I say, 'Deciphering the writing on the wall' = 'Wanting bad shit to happen' for all who don't want to hear the truth.  It IS the enemy of apathy and the State..

Thu, 02/03/2011 - 17:15 | 932423 Wynn
Wynn's picture

Better to be a year early, than even one day too late.

No one knows how this drama will unfold, because governments will just keep changing the rules as we go along, but a collapse is inevitable. 


Thu, 02/03/2011 - 18:01 | 932638 RockyRacoon
RockyRacoon's picture

Actually hoping for a quick and nasty conclusion would be preferable to a long, drawn out affair.  Taking the medicine early will be easier than suffering the ravages of the disease.

Thu, 02/03/2011 - 17:20 | 932447 cougar_w
cougar_w's picture

The world is already altered beyond recognition, but you can only notice the change in hind-sight. Over is just a label. The historians someday will inform us when it actually ended. By then some of us will have moved on (to put it nicely) and most of the rest won't care.

Thu, 02/03/2011 - 17:31 | 932498 DarkAgeAhead
DarkAgeAhead's picture

Agreed.  I appreciate your thoughts here by the way.

A life of grace is still quite possible, amid the collapse and ruin.  The death of globalization itself, I'm probably more for than against.

It's the ecological collapse that'll take us all.  THAT'S probably a few generations out, and more of a slow crush of tens if not hundreds of human generations, than an immediate (one or two generational) event.

But it's very possible to embed grace, beauty, law and virtue into a life of adaptation, if one's willing.

Thu, 02/03/2011 - 17:55 | 932607 Commander Cody
Commander Cody's picture

Overpopulation and diminishing resources will bring about the end.

Thu, 02/03/2011 - 18:14 | 932690 DarkAgeAhead
DarkAgeAhead's picture

Both already are.  But not everywhere, only elsewhere.  Or at least elsewhere to me. 

Population will grow, then decrease toward the end of the century.

The ecological storm on the visible horizon, of a literally disintegrating ecology, may be what dooms our species.

The financial crises, I'm not so worried about.  Those are literal fictions, the stories which we use to control, subjugate, profit from and interrelate with each other. 

The ecological jurisdiction, that's nonnegotiable and we've broken every rule with the contempt that only our rapidly diminishing ancient sunlight could provide.

We're committing self-inflicted ecocide.

For starters, check out the Milennium Ecosystem Assessement.  Adverse change shall accelerate more in the next 50 years, as we've modified living systems more extensively than we've ever known in the past 50 years.


Thu, 02/03/2011 - 22:08 | 933431 johnnynaps
johnnynaps's picture

2 guys flagged you! They must be Republicans!

Thu, 02/03/2011 - 22:41 | 933531 DarkAgeAhead
DarkAgeAhead's picture

The best part is that nothing I wrote references or relies on climate change.  Take climate completely out of the argument and the world's still dying.

The junkers are sensitive much these days.  And I'm not sure what part of all human prosperity relies on the underlying template of Life and ecosystems that the anti-science crowd doesn't understand.



Fri, 02/04/2011 - 00:45 | 933823 UncleFester
UncleFester's picture

Spare me the technocratic BS.  There is a pillar in Georgia, USA you should get to know.


Fri, 02/04/2011 - 15:14 | 935731 DarkAgeAhead
DarkAgeAhead's picture

Interesting criticism.  Haven't had that one tossed at me yet.  Congratulations on the novelty!

Unfortunately though, there's nothing technocratic about my claim or thinking. Should you doubt, just open your eyes.  Check your local/regional ecology today.  Go back say 100 years, recheck.  Then 200.  Then 300.  Notice any changes.  Read some local ecological history, some natural heritage studies of your area.

Life is collapsing all around us.  As relatively irrelevant specks with lives measured as less than blinks geologically, we just don't appreciate the pace at which this collapse is happening.  And it's accelerating, soon to be fast and over a large enough scale that we can't ignore it.

I'm talking observed evidence here, not theoretical. 

Which pillar exactly?

Fri, 02/04/2011 - 00:41 | 933811 UncleFester
UncleFester's picture

Grace will be be revealed in the way you treat your fellow an individual, as an equal, as a property owner, as a human.  No more cogs in the machine will be refreshing, no?  Civilization will be restored.  No more quick, hot, fast money and get on top of everyone else and dry hump them as a display of dominance.


Fri, 02/04/2011 - 08:51 | 934181 DarkAgeAhead
DarkAgeAhead's picture

Too true - the industrial paradigm must shatter, along with it, its current conception of what passes for economics.

I'd just say grace, in how you treat your fellow man and your fellow creatures. 

I have no worries 75 years out.  It's our children or children's children who may feel the ecological storm the worst.

Thu, 02/10/2011 - 00:00 | 948425 UncleFester
UncleFester's picture

I wouldn't worry too much about's the beauty of cycles.  Some lessons have been loss, but they will be re-learned.  It's the way of the world, no? 

The pillar is at Stone Mountain, GA, USA.  The earth can support 500K persons and no more.  Written by an anonymous Malthusian, I suspect.  Other related history...Jekyll Island gave birth to the modern Fed and GA was a debtors prison.



Thu, 02/03/2011 - 17:29 | 932489 fastishplastic
fastishplastic's picture

there are countless Egyptians over the last week who gave their lives disagreeing with the sentiment you espouse. some give their lives to assure a crisis doesn't end the world, others exploit/create crises to save their worlds. the end will come - nothing truer - that's not the question. it's a question of how i choose to spend my last days that needs answering. 

Thu, 02/03/2011 - 17:35 | 932522 LoneCapitalist
LoneCapitalist's picture

" I told you so" wont actually apply unless you tell them so.

Thu, 02/03/2011 - 19:26 | 932936 DosZap
DosZap's picture


It DO get wearisome, but, WHEN that time comes, we likely wont get the chance to CROW, or even converse.

Strength in numbers, like minded people are always going to group together.

Plus, in light of what has ALREADY happened, now we have the (basic) entire ME fixing to start WWIII.

This will not end well, even if we figure out a way to not go to war.

It's different this time,and thats an old cliché, but unfortunately for us, and the world it IS DIFFERENT.

Thats the reason for all the crowing, because for once in ALL our lives we do not KNOW exactly what to do.

Never been in that position before.

Thu, 02/03/2011 - 22:45 | 933542 Bringin It
Bringin It's picture

like minded people - What a hoot.  Who are your like minded people DZ?  You're so full of it you eyes are brown. 

Come on.  I'm right aren't I?

To be honest, you need to put a little tag line at the end of all your bs posts that clearly expresses where you are coming from.  I suggest - "by DosZAp - the proud Zionist."

How's that?

Thu, 02/03/2011 - 19:47 | 932947 chindit13
chindit13's picture

Patience, Atch

This Krieger fellow is just a kid and like most young people has yet to learn perspective.

As much as I do not like what is happening now, I always temper my fears by remembering what the world must have looked like in, say, mid 1942.…..

---a third of London had been leveled

---China was a charnel house suffering under the Japanese occupation

---the Bataan Death March

---the Nazis were in the process of exterminating millions of Jews, Poles, Russians, Catholics, the mentally retarded and gypsies

---the US was fighting on three major fronts and not doing particularly well

---budget deficits were running upwards of 80% of GDP…per year

---the domestic US populace faced severe rationing in everything from gas to rubber to sugar

---Every continent, save for Antarctica, was seeing strife

---all this was on the heels of a decade-long, worldwide Depression that had seen US GDP fall 20% and unemployment top 25%

Civilization did not end.

Fri, 02/04/2011 - 00:57 | 933846 UncleFester
UncleFester's picture

No.  Just part of the transition from the individualist (classical liberal) paradigm to the collectivist paradigm..  What does it take to transform the nations of freedom-loving individuals into nations of mindless automotons?  2 world wars and a great depression.  Care to wager what it will take to go back?


ps. What is a nation?

Fri, 02/04/2011 - 08:55 | 934188 DarkAgeAhead
DarkAgeAhead's picture

True but things at least seemed much more simple then.  That's probably always the case looking back, except for true cases of civilization-level collapse in the past.

The disintegrating global ecology is for me the factor against which there's no real historic measure, at least that we're able to perceive from our particular vantage point in time, space and pace.

Thu, 02/03/2011 - 16:39 | 932295 6 String
6 String's picture

Sadly, many of the allocators of capital in this world are among the most brainwashed people on the planet.  No guts, no imagination and no ability to see outside of the box.  I don’t feel bad about what is coming to them and their reputations but I feel extreme sadness for the fate that awaits their clients.

This is so true. I was talking to an Edward Jones propaganda specialist who cold-called me the other day. I toyed with him for well over an hour. I went on and on how the high-yield muni he was pitching will be worthless even if the muni pays because those fixed dollars will be worthless.....then  he says "but it'll mature in 2037 and you'll get your money back." I did a LOL at this point.

I told him if anything, he should advise to short treasuries properly juicked via leverage, er, options in the bond markets...

He said his laddered bond philosophy would weather this problem of rising rates: I told him to ask Eddie over there at Edward Jones to explain to him what might happen to this strategy if hyperinflation happened. He told me Edward was dead. I told him: so, too, will your entire firm all too soon.


Thu, 02/03/2011 - 18:03 | 932648 RockyRacoon
RockyRacoon's picture

For these folks Davos is Mecca.

Fri, 02/04/2011 - 00:59 | 933848 UncleFester
UncleFester's picture

Hey 6 string,

What do you play?

Thu, 02/03/2011 - 16:40 | 932297 NOTW777
NOTW777's picture

someone got tomorrows job #s early - LOL

Thu, 02/03/2011 - 16:47 | 932321 HarryWanger
HarryWanger's picture

As I posted a couple of weeks ago, look for a fairly nice upside surprise with the employment report. Several indicators are pointing to 150k - 200k and a potential drop in the UE rate to 9.2%.

Thu, 02/03/2011 - 17:02 | 932380 EscapeKey
EscapeKey's picture

If only more people fell off the 99 weeks, it could have been 9.0%.

In fact, if only they ALL fell off the 99 weeks - unemployment would be non-existant!

Thu, 02/03/2011 - 20:55 | 933201 Bay of Pigs
Bay of Pigs's picture

The sun is shining here in Maui Harry, but it always is in your world. 

That said, in your case, denial is a tough nut to crack.

Thu, 02/03/2011 - 17:03 | 932378 redpill
redpill's picture

What if the BLS were specifically directed to publish a particular number, and fudge the underlying dataset however necessary to make it look legitimate? As unbelievable as this would seem to the average Bloomberg/CNBS viewer (aka HarryWanger), if it is not already happening, it absolutely will. Bad numbers will be deemed bad for the country and thus changed, and they won't think for one itty bitty millisecond about the immorality of their actions because by that point they will be so far into the realm of illusions that truth long since stopped mattering to them. The only thing left is perception. Which brings us full circle. Perception is what all this song and dance is about. It is why our central bankers stand up in front of the national press club and claim the opposite of what is true, and not a single one of the spineless sycophants would even think about questioning him. It is a gross reality that I did not think I would see to this degree in my lifetime.

Thu, 02/03/2011 - 17:08 | 932402 Max Hunter
Max Hunter's picture

++ As i've said to a couple of friends.. They MUST lie.. They have no choice.. I actually don't even blame them in a certain way.. Doesn't mean we have to buy the lie and spew shit like HarryWanker and friends..  

Thu, 02/03/2011 - 17:17 | 932431 DonutBoy
DonutBoy's picture

Take the damn pill already - that's happening now.  The unemployment rate magically stays under 10% after 600K unemployed become untouchables uncountables.  Read, these books have been cooked since the early 80's - 10 years after the gold window closed completely and at the tail-end of Volcker's restoration of the dollar.  His to be the last testament to the will of man versus the inevitable gravitational pull on fiat currency.

Thu, 02/03/2011 - 17:56 | 932616 redpill
redpill's picture

Statistical trickery can usually be dissected, and I'm well aware of the excellent data series tracked by shadowstats. However, when they start inventing data entirely, if they are not already, it will not be so straight forward.

Thu, 02/03/2011 - 17:32 | 932506 pods
pods's picture

Well they can say whatever they want. It is up to you to whether you believe what they say.

FWIW, I heard Baghdad Bob is going to be the new spokesman.  :)


Just be happy that you can still buy gold and silver coins for little pieces of paper. Or even better, by a few zeroes and ones transmitted over a wire.

There will be a day when cash decouples from credit/electronic money, and by then PMs will be only available in your safe.


Thu, 02/03/2011 - 16:42 | 932299 youngman
youngman's picture

I feel the same...disgusted...we search for the truth...and it can be told...but they are not...we can´t audit the Fed..that will show us a lot of good  statements are bad with mark to whatever...POMO....and Bernanke just out right lying today....we could have saved ourselves...but now I feel we are truly done....we can´t be its going to end...I don´t know when...but I do know other countries are trying to get out of the am into real gold and silver...just waiting it out...

Thu, 02/03/2011 - 17:14 | 932418 Henry Chinaski
Henry Chinaski's picture

slammin' down a late night shot
the hero and the artist compared
goals and visions and afterthoughts
for the 21st century

but mostly came up with nothin'
so the truth was never learned
and the human race just kept rollin' on

Neil Young

Fri, 02/04/2011 - 01:09 | 933864 UncleFester
UncleFester's picture

You may wait a day, you may wait a year, you may wait a decade, you may wait...3-5 years according to the airwaves.  This is a controlled $ demo!  Plot the gold price and add a 911 arrow...all you need to know.



Thu, 02/03/2011 - 16:43 | 932309 B9K9
B9K9's picture

In many ways, the 2007-2011 finblog/pundit bull market is nearing its end. After all, what more needs be said that hasn't already been said in a variety of different ways? Yes, the system exists solely for the benefit of those who control it; Yes, said system is corrupt; No, the PTB will not act in the best interests of the governed.

The imperative at this point is individual/family survival. The situation in Egypt is an absolute god-send for those who subscribe to the notion that it is much, much better to learn from the mistakes of others. In the case of the ME, we are able to see theory being expressed in a real-time, real-world petri dish.

Now we know the sequence:

  1. Immediate, low-impact boom. Flash rage spurs cops/guards to "lose" their uniforms to meld in with the crowd (and protect their own families). Organized criminal gangs free their compatriots from prisons & jails. Neigbhorhoods go into protective lock-down. Initial shock wave passes, with perhaps a promise of respite. Empire strikes back with casualties experienced by both sides.
  2. Phase two begins - realization that things are not going to "get better". Military has to decide whether to throw their lot in with the old regime, or take a chance on the entire pot by going 'pig'. Food stores, water, power & sewage issues begin to become acute. People begin getting into a longer-term survival mindset.
  3. Stage three?

In the case of the USA, just add two hundred million or so private firearms.

Thu, 02/03/2011 - 17:14 | 932420 calltoaccount
calltoaccount's picture

"the National Rifle Association estimates in its 2010 Firearm Fact Card that there are nearly 300 million firearms in the U.S., including nearly 100 million handguns. The number of firearms rises over 4 million annually."



Thu, 02/03/2011 - 18:00 | 932635 Commander Cody
Commander Cody's picture

Weren't the founding fathers clairvoyant?

Thu, 02/03/2011 - 18:39 | 932792 impending doom
impending doom's picture

He said private, not total.

Thu, 02/03/2011 - 17:19 | 932442 DoChenRollingBearing
DoChenRollingBearing's picture

Yes.  We can learn from Egypt's problems.  Learn from the mistakes of others.

Very well said as always B9K9.

Consider writing articles for ZH.

Thu, 02/03/2011 - 17:51 | 932593 trav7777
trav7777's picture

Huh?  Did USSR and Argentina not happen?

Egypt is hardly unique.  Ferfal has been around for half a decade and Argentina is still in collapse.

The water still runs and the lights are still on most of the time.  The USSR saw the same type of outcome.  The white men who comprise the vast majority of engineers will do their duty and continue to go to work.  This impulse is why we have historically had advanced and cohesive societies.

THANKFULLY, we have a preponderance of these evil white men as our water treatment engineers and power plant engineers and guys who fix powerlines.  They will stay going into work and the water will run and the lights will be on.  Therefore, no madmax

Fri, 02/04/2011 - 01:15 | 933869 UncleFester
UncleFester's picture

6sigma ran all the engineers out and replaced them with bureaucrats.


Thu, 02/03/2011 - 19:28 | 932942 Henry Chinaski
Thu, 02/03/2011 - 16:50 | 932335 Ham Wallet
Ham Wallet's picture

The Bernak- "I'm not to blame for rising food prices."

LOL. MarketPravda is hilarious!!   Author of article Rex appropriate.

Thu, 02/03/2011 - 16:55 | 932344 topcallingtroll
topcallingtroll's picture

Keep writing td. Even the trolls need you. What you should do a zero hedge cafe with computers and a bloomberg terminal. I know it would fill up. Think of a few small menu items. Not much because traders only need caffeine cheese curls alcohol and some blow. It would be.funky and eclectic and a trendy.doomer cafe with an exciting cast of characters, the pinstripe traders hard.core.survivalists, a few angry populists, gold bugs, and just a few nerds and quants, dont forget the trolls....a zero hedge coffee shop and deli with a liquor license great. In the meantime keep writing. Your 15 minutes of fame hasnt even started yet.

Thu, 02/03/2011 - 16:55 | 932358 plocequ1
plocequ1's picture

+666.. Bravo.

Fri, 02/04/2011 - 01:19 | 933878 UncleFester
UncleFester's picture

With all the reality TV these days, I'm calling a top on everyone's 15 minutes.


Thu, 02/03/2011 - 17:12 | 932417 Max Hunter
Max Hunter's picture

eclectic and a trendy

Take out those worthless attributes and you may have something.

Thu, 02/03/2011 - 20:05 | 933049 andybev01
andybev01's picture


The ATF would only need to schedule one van that day.

Thu, 02/03/2011 - 22:52 | 933561 Bringin It
Bringin It's picture

My first thought as well.  Unfortunately.

Thu, 02/03/2011 - 22:51 | 933556 Bringin It
Bringin It's picture

It's gonna need an octogon outback so I can smack DosZap around realtme.

Thu, 02/03/2011 - 16:53 | 932349 aerial view
aerial view's picture

nice words of wisdom mike but reality is a hard pill to swallow as  the masses prefer to spend more time talking about Dancing with the Stars and Am Idol than standing up for their country-if not for themselves, at least, for their children.

Thu, 02/03/2011 - 16:54 | 932354 TradingJoe
TradingJoe's picture

It will get ugly but folks...this fear mongering isn't helping either! There will be somewhat of a "bad time" ahead but geez folks...:)))))!

Thu, 02/03/2011 - 17:04 | 932384 topcallingtroll
topcallingtroll's picture

Agree trader joe. No need to fear the future. Prepare for it and live in the present. Life is very good for most and even those experiencing hard times are probably close to an inflection point. Remember good times never last, but neither do bad times.

Thu, 02/03/2011 - 17:32 | 932512 hardcleareye
hardcleareye's picture


Thu, 02/03/2011 - 17:44 | 932559 Strider52
Strider52's picture

If Mubarek has to go, then Bernanke should have to go with him.

Thu, 02/03/2011 - 22:09 | 933435 anony
anony's picture

Senor Strider:

You don't happen to have a screen size jpg referral for your avatar handy, do you?

Fri, 02/04/2011 - 17:53 | 936257 anony
anony's picture

Now I've got two black eyes. Those things jumped at me from the monitor.

Thu, 02/03/2011 - 18:00 | 932632 tellsometruth
tellsometruth's picture

I tend to agree but the fraud level to keep this sytem going is madening and thats why I speak out


Thu, 02/03/2011 - 16:59 | 932373 Miramanee
Miramanee's picture

Hi Mike,

I just want to point out an operational fallacy. You said, "...Since so many of these dollars are sitting at the central banks of governments around the world..." Actually, the world's central banks simply add and subtract digits from computer-based accounts in their offices. For example, the ECB has a reserve account at The Federal Reserve in D.C. If the ECB desires the appearance of liquidity, the FED debits the ECB's account. No real "money" changes hands.

Now of course, once those debits have occurred, and once the banksters and the fraudsters get their hands on those digital dollars, all bets are off. This is what the neo-classicalists simply cannot fathom. They see the world in terms of the operational truth of fiat money...but what they fail to understand, or accept, is that once these digits have been added to various reserve accounts, the folks who can access these dollars can do ANYTHING they want with them. Ben Bernanke refuses to accept that he truly has no control over our monetary system...he only has control over the flow. THIS IS THE DISASTER OF EPIC PROPORTIONS. The disaster is not fiat money per se, but how central bankers have absolutely no control once the money they create enters the gambling casinos of equity, bond and commodities markets.

Thu, 02/03/2011 - 22:55 | 933568 Bringin It
Bringin It's picture

The disaster is not fiat money per se ...  The inherent disaster is that Fiat systems always end this way.  Abuse is a foregone conclusion in a system based on human greed with no constraints.


Thu, 02/03/2011 - 17:06 | 932395 Yen Cross
Yen Cross's picture

On a more serious note. That krw/usd chart is pathetic. That Asian dxy chart just pisses me off. This has been going on for months now. Rinse wash-rinse wash. sickening.

Thu, 02/03/2011 - 17:09 | 932399 Pegasus Muse
Pegasus Muse's picture

TJ,  You been watching events unfold in Cairo?  What happens when water, food, & fuel starts running out in the USA?  Don't know but Americans are more heavily armed than the Egyptians.  I do not think Kreiger is over dramatizing in this piece.  

Thu, 02/03/2011 - 17:48 | 932573 trav7777
trav7777's picture

no.  Egypt is not the first place to ever collapse.

The water will keep running out of the tap, just as it did in Argentina.  If you can drink it now, it'll be ok then.

everyone has water here and the white men will continue showing up at the treatment plan after the "collapse" just as they did in the USSR and everywhere else, doing their duty.

This is not Egypt.

Thu, 02/03/2011 - 18:12 | 932685 RockyRacoon
RockyRacoon's picture

Reassurance is only as good as its source.  Ever heard of the old saying, "...whistling past the graveyard"?

Thu, 02/03/2011 - 18:48 | 932825 trav7777
trav7777's picture

people still, like, LIVE in Argentina, dude.

they live in Russia too.

I don't expect an outbreak of Katrina except by the type of people who were involved with the Katrina aftermath.

In fact there is abundant evidence to support my position.  The Kobe quake killed like 5000 and there was not one riot or incident of looting.

Thu, 02/03/2011 - 19:29 | 932940 RockyRacoon
RockyRacoon's picture

... except by the type of people who were involved...

So, you're saying poor black people are likely to cause trouble.

OK, got it.

Thu, 02/03/2011 - 23:23 | 933648 StychoKiller
StychoKiller's picture

Let's be more inclusive:  Poor, desperate people, of ANY color!

Fri, 02/04/2011 - 02:16 | 933779 Red Neck Repugnicant
Red Neck Repugnicant's picture


Fri, 02/04/2011 - 02:36 | 933962 trav7777
trav7777's picture

that's simply fuckin wrong.  The Mississippi flooded several states, putting very poor white people underwater.  There was no unrest and no mass violence.

Additionally, Katrina flooded and destroyed a wide swath of the gulf coast- it did NOT only hit New Orleans.  Yet only in one place did Little Africa, with roadside corpses, break out.

Poor asian people after the indonesia tsunami did not loot, riot, or mass murder either.

Your statement is categorically wrong.

Fri, 02/04/2011 - 02:17 | 933798 Red Neck Repugnicant
Red Neck Repugnicant's picture

sitting on the beach in pattaya

Thu, 02/03/2011 - 17:12 | 932415 Shameful
Shameful's picture

There are still tricks to play. Could collapsing the stock market take down the commodity sector like in 08? I think it could, especially with a push from TBTF. Now knowing this I expect them to smash the market down and try to force another round of selling and deleveraging. This also sets up nicely for QE3 and the tale that QE simply has not been big enough.

Now maybe they don't care and are ready to let the crack up boom go. Really don't know but the oligarchy still has some room to maneuver, at least in short term.  But looking at the Feds duel mandate of 1. Keep the Ponzi going 2.  Enrich the TBTF, I have to think they will pull a head fake soon.  Of course the money printing won't stop, but it's all about perceptions and managing perceptions.  We are fed bogus inflation numbers for a reason, bad information = bad decisions, and far to many trust the gov numbers or use them as a reference.

Thu, 02/03/2011 - 19:05 | 932883 Eternal Student
Eternal Student's picture

I agree. Don't forget that a flight from equities will move towards Treasuries, adding downward pressure on rates.

Another key move that I expect is a deal between the Treasury and the Bankers regarding the replacement of Freddie and Fannie. Namely, the Bankers will be able to write home loans that are guaranteed by the U.S.  taxpayer. Passing out loans to anyone who breathes, just like the subprime mess. This ought to delay the Real Estate correction from its current collapse.

Thu, 02/03/2011 - 17:14 | 932421 Yen Cross
Yen Cross's picture

It's not just Korea rinsing usd against euros in the Asian trade. Russia, Singapore, hong Kong, Indonesia, And CHINA as aproxy. And the Middle East.

Thu, 02/03/2011 - 17:15 | 932429 topshelfstuff
topshelfstuff's picture

~and we may see the birth of an China led EastBloc response very soon. I'll paste most of a post I made yesterday. The Lunar New Year [today] culminates on the next full moon. China's stock market is closed to the 8th, but the holiday ends with the Lantern Festival and this would be about the time to announce this change for China's renmimbi, and at least 20 other countries, and counting, 'cause the Door is still Open to join in. The countries who haven't committed have The People saying YES---paste below:


Here's what I'm looking for, and may very well be connected to ongoing Global events.

This Thursday is Chinese New Year, tomorrow their New Year's Eve----not just China, most all of Asia celebrates this most important Holiday for them, it lasts a Week, from Feb 2 through to Feb 8

Recall how we, the US, have been pounding the table for China to ReValue the Yuan, and always using 40% as the minimum, for starters, the amount needed to more level the playing field, in the opinion of our "Leaders"

I'm looking for this ReValuation, but not just by China. I'm looking for a joint, coordinated, and simultaneous "adjustment"---taking this route results in No Change in their Trade, the only change is with the USD --- a line has been drawn, I call it WestBloc and EastBloc, but has nothing to do with Geography. I believe we will see China, along with most all of Asia, perhaps the ASEAN 3+10 Grouping, most of South/Latin America, some from the Mid-East already decided, and ANY other country that wants to join in with this joint Move. There are some countries you could call "Fence-Sitters"....and Egypt considered one of them. Most all of them have a similarity....the obvious one being; having a US approved, often implanted, PUPPET Leader, and The People wanting to be less tied to US Control.

Think about what a 40% Increase vso the USD in all their currencies will do, especially now. The Benefits flow to both The People and the country.

For The People its a huge leap in Purchasing Power, a leap that would neutralize the Increasing Costs in Commodities quoted in USD but payable within their countries with the equvalent, Food & Energy the most important for The People now. Isn't this something sorely needed right now in these countries.

Benefits to all the countries too, as they are in a Build-Up phase, so a 40% DISCOUNT on ALL & ANY Commodities, Globally Priced in USD's, though within the Countries paid and quoted in their Currency's USD Equivalent

I think this may very well be the cause of what's happening now, because there is an important decision that needs to be made, since I believe China and the EastBloc would most likely make this move following and beginning with their New Year---making all the fence-sitter nations needing to make their decision and move...soon

[[[ let me add 2 items also---just  recently China mentioned that 99% of their Trade Imbalance was solely from the US....and China also reiterated to their People that Buying Gold & Silver was a good idea to consider ]]]

Thu, 02/03/2011 - 18:56 | 932846 trav7777
trav7777's picture

nevermind the collapse of their economy from depegging

Thu, 02/03/2011 - 19:10 | 932899 Eternal Student
Eternal Student's picture

Ah yes. The Global Reset/Jubliee, where all Sovereign debts are forgiven, and a new PM backed currency arises to replace the dollar.  I thought this was supposed to happen on 12/31/2010?

We'll eventually get there. But I wouldn't underestimate TPTB.

Thu, 02/03/2011 - 17:19 | 932441 Hacksaw
Hacksaw's picture

Those elites who engineered all of this will be removed, if not by the people then by the collapse. The same can be said for all their stooges. Globalism is doomed and was from the beginning. It has failed every time it has been tried. Fence sitting is coming to an end, the time to pick sides is fast approaching.

Thu, 02/03/2011 - 17:20 | 932448 Yen Cross
Yen Cross's picture

It will always be YUAN in my book.

Thu, 02/03/2011 - 17:28 | 932487 Yen Cross
Yen Cross's picture

Oh and one last moment. Mubar-reck. Bernakes reference the Egyptian Pound rising against the USD in reference to sovereign currencies value against the usd and commodites values in usd made me laugh.

Thu, 02/03/2011 - 17:37 | 932527 AldoHux_IV
AldoHux_IV's picture

I've tried to draw a line in the sand, but have lost vast amounts of my 'small fortune' doing so.  What makes this situation almost impossible to combat on an intelligent and peaceful manner is that people's perception of what is the anti-system investment may not be what will actually fight the centrally planned social class genocide that is being implemented by the IMF, central banks, and financial cartels.

One thing is for sure, the time for peaceful reformation or revolution is coming to an end which only leaves the door open for the other alternative.

Thu, 02/03/2011 - 17:38 | 932534 Iconoclast
Iconoclast's picture

Oh fuck, it's the NFP monthly w@nkfest tomorrow, same shit/different day, the usual BS rammed down the markets' throat about a 'jobless recovery' and how the situation is stabilising...God I hate 'NFP day'..the epitome of capitalism gone bad on so many levels...

Thu, 02/03/2011 - 17:48 | 932575 antidisestablis...
antidisestablishmentarianismishness's picture

Please tell us how and when we will know if you are dead wrong.  Or is being wrong simply not possible for you because the time limit gets extended to infinity if necessary?

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