"When I hear the Germans say that they maintain a very moral stance about debt and strongly believe that debts must be repaid, then I think: what a huge joke! Germany is the country that has never repaid its debts. It has no standing to lecture other nations. ... Germany is really the single best example of a country that, throughout its history, has never repaid its external debt. Neither after the First nor the Second World War. However, it has frequently made other nations pay up... "
Global central banks are afraid. Before Greece tried to stand up to the Troika, they were merely worried. Now it’s clear that no matter what they tell themselves and the world about the necessity or even righteousness of their monetary policies, liquidity can still disappear in an instant. Or at least, that’s what they should be thinking. The problem is that central banks have no plan B in the event of a massive liquidity event. In this cauldron of instability and lack of leadership, cash is the one remaining financial possession that Main Street can translate into goods, services and security. That’s why private banks want more control over it.
"I pledge allegiance to no flag, but to truth and morality..."
In the utopian world of US equities - where every dip is a buying opportunity and "The Fed's got your back," - it is blasphemous for anyone to suggest this state of affairs cannot go on forever is extreme. However, as China encountered an accelerated version of the farce that the US has experienced in the past few years, the same "The PBOC's got your back" mentality dominated every fundamental fact and central bank omnipotence was doctrine. That is until 2 weeks ago... when modest efforts to rein in exponentially-growing leverage pricked the new normal's narrative. Now every "save" by the government and every plunge protected is sold into by a desperate population burned...
Beginning July 1, drivers in Idaho, Georgia, Maryland, Rhode Island, Nebraska and Vermont will be charged more at the pump as a result of laws taking effect at the start states' new fiscal year.
The shining future that America once had is all but a page note in the history books now. Record numbers not in the workforce, failed foreign policies and domestic strife is the new normal. And how is the brain trust in DC going to solve these problems? National service for all 18 - to 28-year-olds!
We cannot forget that crisis is in itself a distraction as well. Whatever pain we do feel tomorrow, or the next day, or the next decade, remember who it was that caused it all: the international banks and their globalist political counterparts. No matter what happens, never be willing to accept a centralized system. No matter how reasonable or rational it might sound amid the terror of fiscal uncertainty, never give the beast what it wants. Refuse to conform to the dialectic. This is the only chance we have left to get back to true prosperity. Once we cross the line into the realm of worldwide institutionalized interdependency, we will never know prosperity or freedom again.
Seemingly confirming the national new normal, dumbing-down-ness, the following clip shows Americans have absolutely no idea about the value of precious metals. When asked if they would like to purchase a 10oz silver bar (worth $160) for just ten bucks, every single one refused... one even refused to handover a half-drunk Starbucks coffee for the silver bar...
The federal personnel chief said Tuesday that she does not believe “anyone is personally responsible” for the massive hack of federal employee data and security clearance files.
Translation - no one is accountable, it was a glitch.
According to BofA's Jill Hall, "BofAML clients were big net sellers of US stocks in the amount of $4.1bn, following four weeks of net buying. Net sales were the largest since January 2008 and led by institutional clients—after three weeks of net buying, institutional clients’ net sales last week were the largest in our data history."
Following the removal of Confederate Flag merchandise from WalMart; Sears, Ebay, ETSY, and prominent flag maker Valley Forge Flags have all joined the 'movement' and stopped selling the 'controversial' flag. However, as with any and all government-'suggested' actions, there are unintended consequences in the hypocrisy of implicitly banning this symbolic banner... sales of Confederate Flags are soaring everywhere else (as the "guns and ammo"-like threat of scarcity has led to a run on the products).
Welcome to the new normal efficient "market" - where 7 sevenths are worth 3.5% more than the whole...
"...my personal strategy for change has morphed from speaking to power in favor of becoming a monk rather than a martyr. If I could stand in front of a tank and have it force positive change I would do so but clearly that opportunity won’t happen or present itself in this leaderless, narrowing, putrefied, lying lawless system of festering corruption. Beyond 2015, I fear it will continue to be everyman for himself and thus divided we'll fall having rejected the spirit of one nation, indivisible, with liberty and justice for all."
Brian Williams - the disgraced lying ex-anchor of NBC Nightly News - has been demoted drastically to breaking news on MSNBC. He also took a significant pay cut. But do not feel too bad for the pathological narcissist. As TheWrap reports, the newsman will still earn a stunning $8-10 million. In today's consequence-less world, it appears it now pays to lie, but do not be disturbed as Williams has allegedly commented that he "identifies as an honest news anchor."