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It’s Time to Collapse the System
For previous articles by the author go to: Gordon Gekko's Blog - http://www.gekkosblog.com
First they came for the communists,
and I didn't speak out because I wasn't a communist.
Then they came for the socialists,
and I didn't speak out because I wasn't a socialist.
Then they came for the trade unionists,
and I didn't speak out because I wasn't a trade unionist.
Then they came for me,
and there was no one left to speak for me.
-- Martin Niemöller, Nazi camp prisoner
‘I’m furious with myself,’ he said. ‘I had so many opportunities to move my money abroad but was taken in by all the promises that any attempt to raid my savings was a red line not to be crossed. Experts said it was against the law. Now, I’ve lost several thousand euros. As someone who is retired, the money in my account is all I have to live on for the rest of my life.
‘What’s really upset people is that they’ve been lied to. They were told that their money was safe and that they shouldn’t move it and then they announce this. Everyone’s accounts are frozen and the ATMs have no money. Some people are struggling to get enough cash together to buy food and water...[people] just feel that they’ve been robbed by the Government.’
--Chris Drake (Former BBC Middle East correspondent, retired to Cyprus) via dailymail.co.uk
(All emphasis mine)
So what are you going to do? Are you going to place your faith in the "authorities" like Mr. Drake did? Will you wait for them to rape and pillage you? Or are you going to take matters into your own hands. It's time to take responsibility for yourself and your loved ones. The Government and the Banksters ain't gonna save you. And if you think what happened in Cyprus this weekend is a "one-off" and it can't happen to you - even if you're outside the Eurozone - think again. The fact of the matter is that this was THEFT of private property - pure and simple. And just because it was performed by mafia dressed up in Government regalia and bearing authoritative three letter acronyms (ECB, IMF et. al. – all banker fronts) doesn't mean it wasn't one. This shows us that the Government and the bankster mafia who control them are willing to go to any length to have the public reimburse their “losses” and transfer public wealth into their own pockets. And they just declared outright war against the public.
Anybody in Spain or Italy who's watching what's happening in Cyprus and doesn't withdraw their money RIGHT THIS MOMENT from their banks deserves what's coming their way. This is as loud and clear as it gets folks. And it’s not just Spain or Italy or Greece or even the entire Soviet European Union – it’s the whole world. You won't get a personal warning letter from your feudal overlords government. And you can't say you weren't warned.
But it's not just enough to withdraw your money from the banks. That's just the first step. A global financial tsunami has been brewing and the waters have been receding for a while. It is upto you to pay attention to the signs and get as far away from the coast as possible which means you need to withdraw completely from the system to safeguard your hard earned wealth. The global monetary system today is nothing more than a giant global pyramid scheme which is now collapsing (hence all the "crises"). Just as in a Ponzi scheme, those who get out first will suffer the least amount of losses. But before I explain how to get out of the system, we need to understand what “the system” is. Also remember, this system is same in all countries today.
Will you be one of these people?
A Crisis Created by the Banksters
So what is this "crisis" in Europe that we all keep hearing about? That every one of the citizens must sacrifice an arm and a leg if we are to avert Armageddon? What would happen if we don't bail out the banks and let them collapse? Would it really be so bad? The "authorities" in our academia and government would have us believe that "the crisis" is born of "natural" causes i.e. it is simply a fact/force of nature. It's nobody's fault! Greed is simply human nature and these things happen. It's the damned "business cycle". Now we must all come together like the obedient little slaves that we are and engage in shared sacrifice to "solve it" and save everyone, especially the banks.
One word: BULLSHIT.
Well, the cause of "the crisis" goes to the very heart of how our monetary/currency system operates today.
The Money
If we are to understand the crisis, first we must understand money - a topic which the masses have deliberately been kept ignorant about. A complex economy such as ours consists of a multitude of goods and services which can be in varying demands at various points of time. Hence a medium of exchange is required that acts as a proxy for all the goods and services in the market (so as to enable complex exchanges) and in the process provides information about their relative demand and supply in the market via price signals (even interest rates are nothing but price signals - the price of money and since money is a proxy for all the resources in an economy - the price at which excess capital in the economy is available for utilization). Producers and consumers then use this information to decide on the allocation of resources - what to produce, how much to produce, etc. For this allocation process to be efficient (i.e. satisfy the wants and needs of everyone with the least amount of wastage) it must be essentially decentralized, since a single entity CANNOT know what everyone wants. This is why the Soviet Union collapsed.
Money, then, is an information mechanism which lets the producers and consumers perform calculations as to the most efficient allocation of resources at any given point of time (a software, if you will, controlling the hardware of the economy). It must be some good that is universally acceptable - that the market has "elected". And just as you need a standard scale of unvarying length to perform measurements of distance, you need a substance whose supply remains fairly constant over long periods of time to perform calculations of economy. Fortunately, the market discovered such a substance fairly long ago - Gold (as evidence that it is the substance, I present Gold's highest stocks to flow ratio of any "commodity" and the only one whose demand does not vary with supply). Unfortunately, somewhere along the line, it all went horribly wrong.
How It All Went Wrong
Now imagine someone wanting to control the economy for their benefit; wanting to have something for nothing i.e. somebody who wants to STEAL from those who are productive. Enter the mafia banksters. All they would need to do is control the medium of exchange or money and voila! But there's only so much Gold to go around. What if you want to appropriate unlimited resources from the economy for your benefit? You need something you can create at will. Enter paper money. So gradually, over period of time, operating behind the curtains, banksters in cahoots with the politicians replaced paper receipts for Gold (just take a look at the higher denomination US dollars circa late 1920’s) with paper tickets backed by NOTHING. An IOU for Gold became an I-O-U-Nothing. Knowing their worthless paper money wouldn't be a voluntary choice, they enlisted the Government as their enforcer and accomplice using bribes and threats (hence the legal tender laws, and for those of you who don’t know or remember, I present the Executive Order 6102). Hurrah! Now they could print and spend as much as they wanted! But alas, there is a fly in the ointment - if they directly used this paper money, the currency would quickly dilute and the scam would fall apart. What to do? Yup, "lend" the money. Thus began the creation of the biggest Empire of Debt backed by the most powerful mafia the world has ever seen.
A Global Ponzi Scheme
So this is how the scam works. Realize that the bankers need to do two things:
- Keep creating new money supply
- Keep extracting the already created money
Make no mistake, the second is as essential as the first otherwise the money supply would increase too fast in relation to the goods and services produced, the currency would decline in purchasing power too quickly and the scam would fall apart. They first need to ensure that you do the work and create production for them to appropriate via the extracted money (and maybe some freshly printed money on the side – who’s watching anyway?).
They achieve the first by loaning new money out of thin air (mostly via entries in a computer today). The Banks1 "lend" "money" to both the Government (government bonds) and the citizens (credit card, home loans, etc.). Lending to the government is an important part of the scheme as they have to bribe the enforcer of their scheme. The politicians don’t give a shit, its free money so far as they are concerned - it is the citizens who will pay it back. Plus who doesn’t love unlimited free money? The Government can issue as many bonds as it desires knowing the Central Bank2 stands ready to buy all of them with freshly printed money, if other morons don’t. The banksters also ensure that there will always be a demand for loans as lending means they demand paying back of the principal as well as the interest. But realize this: they NEVER created money for the interest, only the principal. So how will someone – whether government or citizens – ever pay back the interest? They can’t. They’ll have go bowl on hand to – you guessed it – the banksters. This is why debt in all the nations (both government and private) always increases. Increasing debt is a feature of the system, not a bug. The system is operating exactly as was designed - to trap the people in perpetual debt slavery. And contrary to what you may hear from “experts” and the MSM, the amount of debt in the society will never go down and will never be repaid but - as I will explain below – only end with the collapse of the currency system.
Now this demand for repayment also ties in to the second part of their scheme – extraction. This is how they do it:
- A huge portion of the Government taxes you pay go towards paying the interest on the government bonds which the bankers own i.e. indirectly your taxes are being paid to the bankers. No wonder the IRS and the Federal Reserve came into being together.
- A huge section of the society is always in debt. This is not hard to fathom – a huge portion of your income is extracted via taxes and loan payments on your personal debt. Now, personal debt is not a choice under such a system as availability of unlimited money (credit) for goods in the economy creates price inflation making them out of reach for most people unless they take on debt. Just ask around – how many of your colleagues, friends, relative are in debt? Yup.
Do you see the sheer evil genius of it? Basically the banksters have created a system where they give money from one hand, take it back from the other – all the while making you run on the treadmill of jobs (slavery) – THEIR slavery. They are free to spend the extracted money-out-of-thin-air as they want but you have to do productive work for it. Make no mistake – this is modern day slavery - earlier they used chains and whips, now they use debt.
But What Does All This Have To Do With “The Crisis”?
Everything. Because there remains yet another fly in the ointment, which even the bankers don’t have a solution for as its genesis lies in the very system they have created – central control of money. This central control of money causes huge misallocations in the economy. What is a misallocation? There is a lot to this which I can’t cover in this article such as manipulation of interest rates, so I recommend you do a bit of your own research (especially refer to the work of Austrian economists such as Mises), but briefly: Since the money is now centrally controlled for the benefit of the few (government and the banksters), all the price signals go haywire. Money is handed out to connected but incompetent people who produce NOTHING, people who produce are taxed to death and money is transferred to insiders in the money system, investments are made where none are required (e.g. real estate) which results in things being produced which have no demand whereas things that have demand (e.g. food) are not produced. The inefficiencies in the system become huge and vast productive resources are wasted. There is a whole bunch of consumers and spenders (including the banksters) but not a lot of producers. All of which means that over time two things happen in such a system:
- Overall money supply increases but the extractions start to decline. This is because loans are being made but not as many of them get paid back.
- The amount of goods and services (which people want anyways) available in the economy also start to decline.
An increasing money supply and declining production results in the decimation of the currency’s purchasing power as evidenced in the charts below. These charts are for the USD, but hold true for every currency in the world today:
Unlimited Money...
.... Leads to Unlimited Debt
And the corresponding chart for price of Gold:
Gold price since 1973 (before this it was “fixed” at $35 an ounce after the 1933 robbery). Just to be clear, it is not the gold that is rising, but the USD that is declining.
The Dollar's Purchasing Power Since the Creation of the Federal Reserve in 1913
If you take the limit case for the last chart, you get hyperinflation – the currency becomes worthless (which correspondingly means Gold becomes literally priceless – remember, it is the real money) and the game is over – and as you can see, we are VERY close to it. No more looting. This is what the banksters are so afraid of and this is “the crisis” – their desire to continue pillaging the people. They NEED the extractions to continue, not only because it is their “income” and to prevent “losses” (both these terms mean nothing to someone who owns the money supply as they can always create more) but because otherwise the money supply would increase exponentially (the bad loans already made). This would kill their franchise - the currency. This is also why they can’t just print up and use any amount of currency they need.
But eventually the misallocations become so huge that there is nothing left to extract. The productive citizens have already been bled dry. This need for extractions is what is behind all the demands for “austerity”, the reason for directly robbing the bank accounts of the people. But no matter how much they extract, it doesn’t make a difference because the misallocations will always keep on increasing. The currency is doomed. They might be able to slow the process but hyperinflation is guaranteed in a fiat money system. Eventually, it only matters who gets out first before the currency collapses. So the only question is:
Will you get out in time?
What happened in Cyprus is simply an overt manifestation of what they've been doing all along. It’s just that up until now there were enough productive resources in the economy for them to extract. But as the malinvestments increase and the productive base of the economy keeps on shrinking, as it must for reasons outlined above, they will directly try to appropriate private assets to "cover their losses" (keep the franchise alive). Which means they will need to employ ever more forceful tactics to subdue the populace. Cyprus is just a test run by the global banking oligarchs. Once they are aware of and have prepared for the fallout, they WILL implement this in every nation on earth. How long before you think they will come for you? It’s only a matter of time.
So What to Do?
By now it must be clear that if this looting scheme has to ever end, this fake money system has to end. And whether you like it or not, end it will because as outlined above, the system contains in itself the very seeds of its destruction. Think of it as virus - a parasite - that has infected an otherwise healthy global economy which must be rid of. A forest fire, if you will, that must clear the dead plants (malinvestments) to make way for the new. It is the law of nature. But if the host - YOU - doesn't fight back, the parasite of global banksters will kill the host alongwith itself. If you don’t collapse the system, the system will collapse you. Do you wish to sink with the collapsing system or be one of the survivors to begin a new one?
There are two interdependent objectives at play here. If you choose to take steps for one, the other automatically follows:
- Healing the economy: The system must be collapsed for the much needed capital reallocations to productive hands to begin. Sure, collapse is a guaranteed outcome, but the sooner it happens, the lesser the damage to the economy and faster the recovery.
- Preservation of wealth: By this I don’t mean preservation of the fiat digits in your account. Wealth is not currency notes but the real resources and people of this world. When the reallocations start you need to be ready either by already owning productive assets (whatever is left of them) such as farmland etc. or claims to them that will be universally honored (Gold).
Yes, the global bankster oligarchy is powerful. It’s David vs. Goliath, I know. But as powerful as the Goliath is, he has a weak spot you can hit:
The Currency
Think of this as guerrilla war. There is no sense in outright confronting a huge and powerful enemy because you will be decimated. But there are peaceful and strategic yet powerful steps you can take, namely: Vote with your feet. Reject the currency. The system cannot survive if you don’t participate. I know you can’t do it overnight but you can start to minimize your participation. And know this: If a majority of you does even one of the below, the system will collapse overnight without so much as a shot fired. Here is what you need to do:
1. Leave as little cash as practically possible inside the banking system. As a rough guide, keep only that much which you are willing to lose (as in 100% loss). Yes the banks will collapse, but that is the desired outcome. Contrary to what the authorities want you to believe, we will survive just fine without the banks. Sure, there will be some short-term hardships involved but think of it as an alcoholic recovering. Longer term it will be healthier. Don’t fear “the contagion”
"Clearly this is a negative development for European assets but in the terms of contagion we think it is quite limited,"
What this guy means is that he thinks people aren’t clever enough to realize that the banksters are going to loot everyone. He expects people to bend over and take it. Prove him wrong. Let the damn contagion begin!
2. DO NOT be invested in any paper securities inside the system such as bonds, stocks, derivatives of ANY kind, even though they may be "guaranteed" by the mafia government and/or may carry "AAA" ratings. If you still trust "sovereign guarantees" or rating agencies after all that has happened, I'm sorry but you deserve to lose your money. Dump ALL paper assets. Now.
3. Convert the maximum possible amount of your fiat money into Gold and Silver, but remember to pay cash only and hide them in a secure location which you can access anytime (and as of the great Cypriot robbery, no bank lockers are safe anymore). If you need to understand why it is important to buy Gold and why this will preserve your wealth – especially during a currency collapse - please read this and this. If the country you reside in is making hard for you to buy PM's - MOVE, for this is an indication of depredations to come. If they are requiring identification/ tracking if you buy over an X amount, just keep buying a little below it as many times as required (guerrilla warfare). But keep it discreet. And, yes, I know the government can confiscate PM’s but nothing’s stopping them from confiscating your fiat digits either. There are no guarantees in life. At least this way you still have a chance.
4. Although precious metals in your own possession is the safest place to park your hard earned savings, if you wish or need to diversify beyond the precious metals, invest only in real assets in safe jurisdictions. By safe I mean which are furthest from the control of feudal lords of western "civilization", although I'm not sure there are many these days. The best real asset I can think of aside from PM's is cultivable farming land, but I’m sure there are many others.
5. Where practically and legally feasible for you, stop paying back bankster debt. Starve them of the interest payments. If its cheaper to fight them in court than paying back, do it. Use their system against them. If you want to double the impact, use the fake debt-money you just appropriated from them to buy Gold and Silver3.
6. Minimize usage of bankster money in daily transactions by using alternative currencies (such as Bitcoin) which they cannot track and tax. Disclaimer: I haven’t done much research on Bitcoin or other such p2p currencies, so do your due diligence. The only guarantees I can make are for Gold. If your circumstances permit, try to start making a living outside the bankster controlled wage-slave economy. The lesser number of slaves there are to exploit, the faster the system will collapse.
7. Wake up as many people as you can. Let's make this shit viral.
So, unless you want a bankster at your doorstep with a gun to your head – like it happened in Cyprus - it’s time to take the fight to them. Rip them banksters a new one! Let this not happen to you:
He who panics first, panics best. Clearly, these people didn’t know it!
And if there ever was a picture worth a thousand words – or 3,835 in this case :-) – this is it:
1The Banks refer to both the Central Banks and ordinary commercial banks such as Citibank, JP Morgan etc. The latter are simply fronts for the Central Bank.
2 The Central Bank is nothing but just a façade for creating money out of thin air and a front for the global banking aristocracy.
3 I forgot to include this point earlier. If you can think of any more ideas, feel free to email me at the email address provided on my blog or post them in the comments section below (or on my blog) and I will include them in a subsequent post.
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enter the hofjuden and their central bankster judefetzen:
Scum like you make the Web stink like shit.
am i close guessing that you are one of the loyal and unscrupulous sympathisers who benefits greatly from the hofjuden run scam called fractional reserve central banking?
Still trying to discredit this forum by extemporaneously bringing the Jews into everything, I see.
How do you discredit the forum by pointing out the obvious?
We don't see the majority of banksters (at least in the USA) being African,Swedish,Arabs,Greeks,Itailians or French. The majority are Jewish or they just have very Jewish names.
as i recall, the hofjuden entered the enslavement by debt business of their own volition. i guess they just could not help themselves when the opportunity knocked and defrauding the general populace who trusted them was so easy peasy. who could've known the hofjuden were not honourable people and it was not beneath them to defraud those who trusted their fraudulent fractional iou, er, money. admittedly, over the last 2000 years they've become quite the experts in the area of financial fraud. must be in their dna. oh well, we should get ready for another reichskristallnacht
Well, it is their domain and raison d'etre. The evidence is too thick to ignore. Paper promises are their game. Goes back to the paper written on salvation through faith. Funny how they concocted a faith based society and a faith based currency over time. That's a whole lotta faith in something you neither control, nor know to be there for sure. It's the basis to teach people to be dumb and reliant on someone else's words (promises) and have faith in institutions and policies.
Its just a coincidence that they are mostly Jewish. Jews just happen to be good with money.
It has nothing to do with race.
Italians know how to make pasta. Jews know how to make money.
*** Jews know how to make money.***
Actually they are better at stealing money.
They don't call them the Satanic Tribe for nothing! There are WAY too many Jewish names on all sides of the problems. To me it suggests who is to blame and who is leading the way!
the point of contention is not this
the problem is that hofjuden (not necessarily jews in general) just cannot help themselves but loot and engage in the worst possible deceptive fraud there is - defrauding honest, productive and hard working individuals and their families of the fruits of their labor. in simple terms, the hofjuden and their helpers in the financial system are thieves that should be gassed for crimes against humanity
We are witnesses to the world's end and what will become of people who live only for money?
They will surely get what they deserve.
With interest.
Typical 'inflationist', declining purchasing power, free market nonsense not worth criticising for the 20th time already.
Judging from the number of detractors and down votes, it seems obvious that no case can be made for deflation. period. end of argument. that's all folks.
Keep contributing, Virginian.
Are you the guy who stands by my freeway offramp with the little cardboard signs?
Gold Bless!
"Will Deny All Signs of Inflation for Food."
Priceless!
besides naturally subscribing to all of mr. gecko's suggestions, i have really been tempted to stand out on the highway with my "standing on the corner with a sign" sign, flip side- "while it's still legal".
heh - you've worn that bag a long time but I still can't get used to it. Every time I see one of your comments I picture a little blond kid with big round glasses.
Typical 'deflationary' flat-earthism, appreciating dollar, 'central planning is best', I heart Bernanke nonsense not worth criticizing for the 12,334,810,804th time already.
Gordon connected a lot of dots in that long, rambling rant. A few that he forgot was the connection to JFK assassination, water fluoridation, fake moon landing, Dick Cheney, and Big Foot.
Fake Bigfoot moon assassination my ass, Bagboy.
Didn't I see you downtown, yelling into a non-existent cellphone last night?
Obamaphone?
dumb attempt to discredit the author by lumping the JFK murder conspiracy (fact) with Big Foot (fake)
Check out this interview with Lyndon Baines Johnson by Walter Cronkite...
http://www.youtube.com/watch?v=xd1wuXrVPjo
Pay attention to 1:50 "...motivated Oswald or others". If others are involved then that is the definition of a Conspiracy.
This is important enough to address.
But the Troll's intent was to sidetrack the topic from the one at hand. So please do not feed the Troll by responding to my post. Just give it an Up Arrow or a Down Arrow as you please..
Big foot is fake??? But I saw the video!
I used to think I lived next door to Bigfoot, but then I eventually discovered that he was just an unusually tall Iranian.
I saw Bigfoot once!
[everyone in the room reacts. The Farmer stands up]
1951. It made a sound that I would not want to hear twice in my life.
Show me something he wrote up there that is not true.
I'll second that. Not only true, but explained in a very clear uncluttered way, that makes this a good read for people, who are new to the subject. Well done!.
I wrote this especially keeping in mind that there may be people reading this who are new to the subject. Hard as it may be for those of us "in the know" here on ZH to imagine, but there are many, many who don't know anything at all (as once we were). Those section of people are my primary target with this piece - and of course, I knew old ZH'ers wouldn't mind a bit of repetition and reminder :-)...I tried to keep things interesting if that's any consolation.
Great post GG.
I forwarded to my daughter who still gives me the "Oh, Dad" humor-the-crazy-guy response when I try to explain to her that her beloved Big Gov Skittle Shitting Unicorn is an extraction machine vampire with a happy face slapped on it.
She's starting to get the picture and connect the dots and a brief concise post like yours will get her attention. She's very bright but naive because she wants to believe so badly that people are essentially good and those in power really want to do the 'right thing' and tends to reject the evidence that they are not noble and altruistic actors.
Those are the other guys.
She doesn't want to believe they're all the same guys, only rival gangsters working for the same capos.
Just goes to show what happens if you let them marinate too long in Academia-land without a strong enough antidote of reality.
All the way out now. My chickens are my friends. I feed them silver powder and they lay golden eggs. I used to work for the FED. Yep...all is well in the world of fiat currency because CNBC said so.
New definition of bank robbery:
Bank robbery: BAnks which rob depositors disguised as taxes , but not fees.
And a definition of a Bank Robber; A bank owner.
I took a lump of cash out yesterday Gordon, not because I needed it but in solidarity with the Global Bank Run.
Savers of the world Unite.
Love seeing you on these pages again!
Excellent MsCreant. And thanks! Loving the warm reception.
I am (legally) doing my best to hollow out a global bankster controlled mega slave-center corporation as we speak!
Thanks for posting this, Mr. Gekko sir.
As for me, I'm legally doing my best to hollow out all global bankster controlled mega slave-center corporations by doing as you suggest. Sitting here on my ass, diddling my computer in projects for nobody but me and mine.
Since I only get paid for this every year or three, I like to think I am accelerating the decline of Western Banking in a quiet, yet satisfying way. The sad banks have to make it through their many down slopes without my assistance.
And on those rare occasions when my computer diddling hauls in a jackpot, the paper certificate goes to the boys down the freeway from here who stamp out and sell silver just for me and a few thousand like-minded runaway slaves.
It ain't much, but it helps me feel like I'm doing my part for the greater good... of me and mine.
One question though. How will we know when it's done collapsing?
I'm hoping CNBC will run an hour long analysis entitled: "Western Civilization and What Went Wrong."
You didn't diddle that. :P
F**king hilarious! ROTFLMAO!!
Another warm welcome to you, GG! I don't comment much but always read; so this is also from one of the 'less vocal' lurkers - you were missed! Very happy to see so much in this article too. You have a plain writing style that is clear and accessible, which is very needed in a time when it is difficult to sift through so many lies.
Many thanks!
GG, good to see you here again.
Your ideas are deeply appreciated around.
Thanks TLT!
It was from your blog i actually found zerohedge and fofoa years ago Gordan. So thanks :)
Glad to help! It was usually the other way round (at least in case of ZH).
I know, i was a late bloomer ;) Studied Physics at Uni and never gave a thought about what money was until the crash of 08, then when i went looking for answers it came as something of shock to find that most economists didn't seem to understand math. Will never forget that "aha" moment when i realised i was living in a giant con game, and how my entire first class western "education", had never once mentioned money, or what it was, or where it came from, or ways to earn it, other than: "go to uni, get a good job, work till you die".
Without trying to sound like to much of a wanker, i'm pretty smart. Yet i still had no fucking idea. And without you, tyler and a few other blogs, i would still be a clueless fucking idiot. Can't beleive the powers that be allowed the internet to flourish, it was a major fucking oversight on their behalf. Oh well, not for much longer i'm sure.
Yeah? Isn't it funny that they call Keynesian Economics a "Theory"? I know that you know that a decent Theory allows one predict events.
These practitioners of Keynesian "Theory" just cannot make predictions with any hope of realizing any results.
The reason why Economists call it a Theory is to lend it some sort of undeserving "Credibility". In actuality it is nothing more than a Plan. If it truly was a Theory I'd have trashed it years ago. (In fact I understood it for what it is.)
The point is NOT that most Economists do not understand Math. Most people will not understand how to expand a Series or solve even the most Rudimenatry Algebra problem, which is much less demanding than the Calculus, or, the Differential Equation.
But that is the problem. The people do not understand Math or Science. So they are easily mislead.
The point is that most believe Economics to be a Science when it is the farthest from being a Science. Because of their ignorance they just misplace their Trust. And it is unfortunate that many will be damaged as a result of their own ignorance, their ignorance being capitalized upon by the charlatan Central Banksters.
Yeah it has been a pretty strange trip traveling the road from being a Physics Teacher and transforming into a Trader.
You are not a wanker for being smart. Have you checked out Econophysics yet?
TT, I have to agree. And what's worse is that math and physics are exciting and fun. They are two domains where having insight is about the *only* thing that matters, which is why this article is such a big yawn to somebody who has experienced the richness of these two fields. Not to say that insights don't occur in other fields--I cite Webster Tarpley below as someone who has great insights, and I should add, makes accurate predictions far in advance--witness his book "Obama the Postmodern Coup" to see how right he was about what subsequently transpired, his book having been written before the election of Obama for his first term.
I'm sure you already know about Stephen Keene who has married dynamical systems to the Hyman Minsky Instability Hypothesis.
Especially in this crisis, we don't need to be reading the kind of pablum represented by this article. Sometimes I think these right wing hacks are working for the man.