• Sprott Money
    03/01/2015 - 23:51
    Clearly if Western governments were ‘merely’ drowning in debt-to-GDP ratios of roughly 100%, then theycould still argue that attempting to manage these debt-loads was legitimate rather than...

Racketeering

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Daniel Hannan Exposes Davos' Narcissistic Corporatist Racketeering





"Davos Man... derives most of his income, directly or indirectly, from state patronage. Davos is a place where you see, in Marxist terms, is a gang of rentiers coming together to devise new means to live off the sweat of the workers... It’s like an Ayn Rand novel, where lobbyists reach cosy arrangements with each other in elliptical language."

 
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"We Have Been Captured... We Are Parented, Not Represented"





Self-government is the gift our founding fathers made possible and out of lack of respect for the sacrifices of the past, the constitutional rights of the present and the freedoms of future Americans we allow it to be traded for a comfortable existence.  We must stop and truly understand the concept of self-government as it was meant to be and then mentally reconcile that with the current state of our government.  We are parented not represented.  We are enslaved with encroaching laws that are demeaning to rational self sufficient adults.   And by a legislative body that feeds from our bosom, fights with our fists and has buried us in debt to a foreign body who they sold the rights to our currency.  How is this in any way a self-governed society?  We have been captured by a group of fraudulent citizens who control our money, our military and have desecrated our constitution.

 
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2015 - Life In The Breakdown Lane





“Don’t look back - something might be gaining on you,” Satchel Paige famously warned. For connoisseurs of civilizational collapse, 2014 was merely annoying, a continued pile-up of over-investments in complexity with mounting diminishing returns, metastasizing fragility, and no satisfying resolution. So we enter 2015 with greater tensions than ever before and therefore the likelihood that the inevitable breakdown will release more destructive energy and be that much harder to recover from.

 
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The Trigger?





"where are the opponents to the ethos that anything goes and nothing matters? Where are the political figures who can sustain a complaint long enough, and loudly enough, to keep it in the public consciousness clearly enough to make a difference? The more conspiracy-minded might say that the security apparatus (the NSA and its servelings) or Wall Street actually run the country and somehow suppress opposition. I don’t believe that. I do believe that cultures go through tragic periods when they lose their bearings and the will to be truthful to themselves."

 
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The Fed Is Running On The Final Fumes Of Its Credibility





This Federal Reserve is running on the final fumes of its credibility. Counsel “patience” as it might, other institutions and the people running them may run out of patience with it and start running for cover. When currencies catch fire, even a run on the bank becomes an exercise in futility. The rot is spreading from the margins to the center. Not even very far in the background, there is wreckage everywhere as events spin out of the pretense of control. What an opportunity for another country, say a country with an already foundering currency, to dare introduce money partially backed by gold.

 
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The Only Way To Stop The Empire





The final days of US empire are fast approaching. Perhaps its end will pass slowly and gradually, or perhaps the event will unfold rapidly and catastrophically. Maybe chaos will break loose, or maybe its demise will be organized well and proceed smoothly. This nobody knows, but the end of empire is coming as surely as day follows night and sun follows rain. Overexpansion, overreach and over-indebtedness will take their toll—as all past empires have discovered.

 
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"No, Taxes Are Not What We Pay For Civilized Society"





“Taxes are what we pay for civilized society.” The famous quote by US Supreme Court Justice Oliver Wendell Holmes Jr. is inscribed above the entrance to the headquarters of the IRS. Most people don’t have a clue what he meant, or in what context the statement was made. They simply parrot it around to justify the state’s racketeering behavior. The logic is as twisted as saying “war is the price we pay for peace” or “debt is the price we pay for recovery.” They’re all logical fallacies, and assertions backed by zero objective evidence. This is not how a ‘civilized society’ conducts itself.

 
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Bank Of America Posts Q3 Loss, Slammed By Yet Another "One-Time, Non-Recurring" Legal Charge





Remember when banks said to ignore "one-time, non-recurring" legal fees because they are going away? Well, JPM yesterday showed they aren't. But it was Bank of America today which was slammed with the latest whopping $5.3 billion pretax litigation charge, which pushed its EPS once again into the red. But wait, there's great news: the loss of $0.01 is really a $0.42 non-GAAP adjusted profit if one "adds back" the $0.43 in litigation charges.

 
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Buy Physical Gold and Silver Bars - Ex Mafia Boss





The former powerful mafia boss, turned motivational speaker and author, Michael Franzese, warned on CNBC that stocks are a bubble, Wall Street is crooked and advised people to own physical gold and silver bars. He said he would not invest in gold ETFs, rather he owns physical bars: “No matter what, it’s always going to have a value and there will always be something there ... ”


 
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Why America's Healthcare (Sickcare) System Is Broken And Unfixable





Here's a two-word summary of why the American healthcare system is fundamentally broken and cannot be fixed with policy tweaks: perverse incentives.

 
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Reality-Optional Economics: Cockamamie Stories Infecting the Body Politic





The total tonnage of economic malarkey being shoveled over the American public these days would make the late Dr. Joseph Goebbels (Nazi Minister of “Public Enlightenment and Propaganda”) turn green in his grave with envy. It’s a staggering phenomenon because little about it is conspiratorial; rather, it’s the consensual expression of a public that wants desperately to believe things that are untrue, and an economic leadership equally credulous, unmanned, and avid to furnish the necessary narratives that might preserve their jobs and perqs.

 
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France Responds To US BNP Fine, Will Train Hundreds Of Russian Seamen To Operate French-Made Warship





France has suddenly found itself battling two populist fronts: on one hand it had to continue its foreign policy track of siding with NATO and the US when it comes to Russian developments; on the other it had to responds to howls of protest from the population bashing the US for having the temerity to punish its flagship bank (recall "France Furious At US $10 Billion BNP "Masterful Slap", "Racketeering" Fine"). Today, it was revealed that in weighing the two evils, it picked what it thought was the lesser one, and as the WSJ reports "a group of 400 Russian sailors are scheduled to arrive on June 22 in the French Atlantic port of Saint-Nazaire to undergo months of instruction before some of them pilot the first of two Mistral-class carriers back to Russia in the fall, said one of these people."

 
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France Furious At US $10 Billion BNP "Masterful Slap", "Racketeering" Fine





With Eric Holder suddenly playing hardball with the banks (most notably not US banks), it has not gone unnoticed among the largest European newspapers. The potential $10 billion penalty for BNP Paribas - France's largest bank - for alleged dealings with a sanctioned Iran has been called a "masterful slap," by Le Monde and Le Figaro said the U.S. was making an example of BNP to deflect criticism it had been "lenient with the American banks responsible for the financial crisis." This could make for an awkward week for Obama, not only facing Putin as he visits Europe to celebrate D-Day but as the allies themselves turn on him with France's Hollande likely to raise the matter and, as Bloomberg reports, newly elected National Front party called on the French government to "defend the national interest" in the case.

 
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Hacker Invoices DoJ For Prison Time; Refuses To Accept U.S. Dollars





"I am owed 28,296 Bitcoins. I do not accept United States dollars, as it is the preferred currency of criminal organizations such as the FBI, DOJ, ATF, and Federal Reserve and I do not assist criminal racketeering enterprises."

 
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"This Could Only Happen In A Profoundly Corrupt, Dishonest, & Degenerate Society"





Funny how, in the current national rapture of techno-narcissism, it is harder than ever to do something that for generations used to be as simple as pie: to get somebody on the telephone. To some degree, this situation represents the sheer diminishing returns and unintended consequences of technology. In a nation infatuated with technology, these entropic effects are always ignored. We just don’t want to hear about it, and our related infatuation with feel-good public relations bullshit spews a fog of concealment over it. It ought to be self-evident that this could only happen in a profoundly corrupt, dishonest, and degenerate society, because it took the form of a social compact that accepted this sort of behavior as okay.

 
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