New York Times
It is just incredible how quick NYC Mayor Michael Bloomberg is to throw a temper tantrum whenever anyone dares question his crusade to rid the nation of its remaining civil liberties. In this case, his targets are those that criticize his feudalistic and extraordinarily racist "stop and frisk policy."
Wishful thinking now runs so thick and deep across the USA that our hopes for a credible future are being drowned in a tidal wave of yellow smiley-face stories recklessly issued by institutions that ought to know better. A case in point is the Charles C. Mann’s tragically dumb cover story in the current Atlantic magazine - “We Will Never Run Out of Oil” - setting out in great detail the entire panoply of techno-narcissistic “solutions” to our energy predicament. Another case in point was senior financial writer Joe Nocera’s moronic op-ed in last week’s New York Times beating the drum for American “energy independence.” You could call these two examples mendacious if it weren’t so predictable that a desperate society would do everything possible to defend its sunk costs, including the making up of fairy tales to justify its wishes.
We recently asked:"are there really unpredictable market shocks or are investors paid not to care? To us, all signs point towards the next currency reset. We think monetary authorities are compulsively destroying the current global monetary system; they simply have no choice if they are to keep it afloat in the short term." With Bernanke not attending Jackson Hole, we think the choice for next Fed Chair may have profound economic implications, and that it would not require expertise in econometric modeling, credit policy management, and maintaining the public perception of economic stability. We think the next Fed Chairman will oversee a conversion of the global monetary regime. Neither growth nor austerity nor gloom of night will stay these currencies from their appointed devaluations. Bank balance sheets must be preserved; ergo sufficient inflation must be manufactured. We think the dull but persistent economic malaise amid increasingly aggressive monetary intervention policies will soon engender fear among the not-so-great washed – net savers. We think all should question whether we are 100% wrong. If not, then prudence dictates some allocation to properly held precious metals. (Presently, it is less than 1% of all global pensions.)
But "We Can’t Afford to Irritate the Saudis" By Actually Looking Into Who Backed 9/11 ... "Especially with Oil Prices Going Up Now"
In a slight digression from the usual pure market-based discussions of Jeremy Grantham's perspectives, the fund manager addresses what is potentially and even more critical factor for the markets. As he writes, we are in a race for our lives, as our global economy, reckless in its use of all resources and natural systems, shows many of the indicators of potential failure that brought down so many civilizations before ours. By sheer luck, though, ours has two features that might just save our bacon: declining fertility rates and progress in alternative energy. Our survival might well depend on doing everything we can to encourage their progress. Vested interests, though, defend the status quo effectively and the majority much prefers optimistic propaganda to uncomfortable truth and wishful thinking rather than tough action. It is likely to be a close race.
The world is heading into a horrific economic nightmare, and an inordinate amount of the suffering is going to fall on innocent children. If you want to get an idea of what America is going to look like in the not too distant future, just check out what is happening in Greece. At this point, Greece is experiencing a full-blown economic depression. And as you will read about below, child hunger is absolutely exploding in Greece right now. Some families are literally trying to survive on pasta and ketchup. But don't think for a moment that it can't happen here.Sadly, the truth is that child hunger is already rising very rapidly in our poverty-stricken cities. Never before have we had so many Americans unable to take care of themselves. Unfortunately, more poor families slip through the cracks with each passing day, and these are supposedly times in which we are experiencing an "economic recovery". So what are things going to look like when the next major economic downturn strikes?
Forget Boston, 9/11 and Oklahoma City … Is False Flag Terror Even a REAL Historical Concept?
What is happening to you America? Once upon a time, the United States was a place where free enterprise thrived and the greatest cities that the world had ever seen sprouted up from coast to coast. Good jobs were plentiful and a manufacturing boom helped fuel the rise of the largest and most vibrant middle class in the history of the planet. Cities such as Detroit, Chicago, Milwaukee, Cleveland, Philadelphia and Baltimore were all teeming with economic activity and the rest of the globe looked on our economic miracle with a mixture of wonder and envy. But now look at us. Our once proud cities are being transformed into poverty-stricken hellholes. We are in the midst of a long-term economic collapse that is eating away at us like cancer, and things are going to get a lot worse than this. So if you still live in a prosperous area of the country, don't laugh at what is happening to others. What is happening to them will be coming to your area soon enough.
If the FBI can track down two homicidal Chechen nobodies inside of forty-eight hours from their Boston bombing caper, you kind of wonder how come the Bureau can’t detect the odor of racketeering, insider trading, and wire fraud in this month’s orchestrated smackdown of the gold futures markets, including the parts played by the Federal reserve, one or more too-big-to-fail banks, self-interested big money players such as George Soros, slumbering regulators at the Commodities Futures Trading Commission, and tractable editors at The Wall Street Journal and The New York Times... Because the smackdown organizers pulled off their operation in a panic, they probably ignored the potential further negative consequences of their stratagem, namely a worsening loss of confidence in banks generally and in the trade of abstract financial instruments in particular
One of the many things holding the nation back at the moment is the complete lack of incentive to be a creative, productive and honest member of society versus the tremendous incentive to be a corrupt, thieving, lackey for the establishment. In a free market system, with a strict set of rules governing the game that is applied to everyone equally, market signals and incentives exist for companies to create a great product and to meet customer needs with great service. In contrast, within a crony capitalist system, the primary incentive is to get as close as possible to political and corporate power in order to financially benefit from their oligarchical ownership of the controlled economy. It is only within a completely disconnected from reality, crony, fraudulent economy where you could have a situation in which hospitals actually earn much larger profit margins from making mistakes and harming their patients, than from providing excellent care.
Cyberspace matters. We know this because governments and militaries around the world are scrambling to control the digital space even as they slash defense spending in other areas, rapidly building up cyber forces with which to defend their own virtual territories and attack those of their rivals. But we do not yet know how much cyberspace matters, at least in security terms. Is it merely warfare’s new periphery, the theatre for a 21st century Cold War that will be waged unseen, and with practically no real-world consequences? Or is it emerging as the most important battle-space of the information age, the critical domain in which future wars will be won and lost? China and the U.S. have both said that they would like to see a rules-based cyberspace, but they do not see eye to eye on how those rules should be established. A costly and potentially dangerous Cyber Cold War awaits if they cannot do better, and agree on some rules of engagement for their rapidly expanding online forces.
Buy PHYSICAL Gold. NOW: The Discount of a Lifetime: Or Why You Must Abandon the Fake Paper Gold MarketSubmitted by Gordon_Gekko on 04/17/2013 07:00 -0400
It's time to go in for the kill. Buy as much physical Gold as you can.
In a wide-ranging interview with Casey Research editor Louis James, Doug Casey discusses why it's imperative to start diversifying one's assets today, and provides some guidance in considering countries to diversify into... "I'm sure they'll get 'round to closing all the loopholes. So, the time to act is now. We'll keep monitoring the situation, but when this happens, the Powers that Be won't want anyone to see it coming, so it will zing in from left field. Your only chance to protect your wealth is to start diversifying its exposure to any one particular predatory state as soon as possible."