Ron Paul & Jim Rogers: "There's More Chaos To Come"

Tyler Durden's picture

These are clear warnings signs that a rational person simply cannot ignore.

Bottom line, Nations are going bust. And the worse things get, the more desperate their tactics become. This isn't the first time that the world has been in this position. This time is not different. History shows that there are serious, serious consequences to running unsustainably high debts and deficits. And those consequences have almost invariably involved pillaging people's wealth, savings, livelihoods and liberties... either directly or indirectly.

What's happening right now is playing out in textbook fashion. More taxes, more debt, more printing, more confiscation, less freedom. I’m not talking about the end of the world here, I’m talking about difficult times ahead, and the things that go beyond economics. It’s time to face facts and look at how society will change (and has already changed).

Many people will resist the change and instead cling desperately to the old system - the cycle of debt and consumption that provided jobs, stability, and prosperity. These people will have their lives turned upside down because that system is gone forever. And in case it still weren't obvious, here is three minutes of clarity from Ron Paul and Jim Rogers..."I would expect that there is going to be a lot more chaos still to come." - Ron Paul; “They won’t take our bank accounts…they will take our retirement accounts.” - Jim Rogers

 

Via Simon Black of Sovereign Man blog,

The world is truly an enormous place... and, despite the dearth of good news and positive trends out there, I still see a lot of amazing opportunities in my travels.

 

But it's really important to remain grounded about the challenges that face us. As I pen this letter to you, in fact,

 

- The NSA's Utah data center, which will intercept every phone call, email, and tweet sent across the Internet, is nearing completion.

 

- The Marketplace Fairness Act, which will create additional sales taxes on US-based Internet transactions, is set to pass the Senate next week.

 

- The government of Cyprus just passed the final bail-in measures, officially authorizing the direct confiscation of people's savings in that country's banking system.

 

- The Bank of Japan recently announced its intentions to double down on their already unprecedented money printing operations.

 

- Not to be outdone, the US Federal Reserve just announced that they will maintain their Quantitative Easing program, which dilutes the existing money supply by more than $1 trillion annually.

 

- At $16.83 trillion, the US federal debt is at a record high and set to breach $17 trillion early this summer.

 

- President Obama recently proposed to cap the tax deferral benefit on Individual Retirement Accounts in the Land of the Free

 

These are clear warnings signs that a rational person simply cannot ignore.

 

Bottom line, nations are going bust. And the worse things get, the more desperate their tactics become.

 

This isn't the first time that the world has been in this position. This time is not different.

 

History shows that there are serious, serious consequences to running unsustainably high debts and deficits. And those consequences have almost invariably involved pillaging people's wealth, savings, livelihoods and liberties... either directly or indirectly.

 

What's happening right now is playing out in textbook fashion. More taxes, more debt, more printing, more confiscation, less freedom.

 

I’m not talking about the end of the world here, I’m talking about difficult times ahead, and the things that go beyond economics. It’s time to face facts and look at how society will change (and has already changed).

 

Many people will resist the change and instead cling desperately to the old system– the cycle of debt and consumption that provided jobs, stability, and prosperity. These people will have their lives turned upside down because that system is gone forever.

 

And in case it still weren't obvious, I'd like to present Ron Paul and Jim Rogers, speaking together at our event in Chile a few weeks ago, with their own views on the situation.

 

“They won’t take our bank accounts…they will take our retirement accounts.” - Jim Rogers

"We are going to have a calamity in economics and political crises as economies worldwide are a lot weaker than they tell us." - Ron Paul

"I would expect that there is going to be a lot more chaos still to come." - Ron Paul

"There are so many distortions because we disobeyed economic law - no matter what Bernanke tell's you." - Ron Paul

"Bernanke's whole intellectual career has been dedicated to the study of printing money." - Jim Rogers

"I don't doubt [the confiscation] at all; and they will use force and they'll use intimidation." - Ron Paul

 

Three minutes of clarity...

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MillionDollarBonus_'s picture

Chronicles of a silverbug lemming 

Part 1

It is three in the morning. Jack Riley lies awake, staring at the silver price. His eyes are weary and his heart is full of dread. Jack barely glances at his wife Marisa, who lies fast asleep by his side. Every now and then however, he glances affectionately at his 'stack' glinting faintly in the corner of the room. "At least my ounces are still there", he thinks. But deep down he knows that he has lost a fortune, and what's more he has fundamentally betrayed his wife and children. This is the story of a real silverbug, and the excitement, anguish and agony that accompanies his addiction to stacking this shiny metal, and to 'play trading' it's ming stocks.

american eyedol's picture

its just a confidence problem and how do we correct that?  Maria Bartrohlemhomo CNBC

Manthong's picture

http://www.webelements.com/silver/

 

..and awshit... who couldn't like the silver vibrator solution to Marisa's frigidity problem?

ratso's picture

Right on - Mutt and Jeff talk economics - funny stuff.

AldousHuxley's picture

Chaos is good

Stability means rigid social and economical structures

Jim Rogers will lose money
Next young trader will take his place

TwoShortPlanks's picture

More Chaos to come...the US is being wound-up like a spring, and some day something will trigger it, and it’ll be 1968 all over again.

Example: Spot the dumb White [Rent-A-] Cop. The Black guy's not drinking alcohol, but he assumes he is. Not wanting to lose face after realising it, he busts him for trespassing?! WTF...did the cop even ask him to leave? No! Did he ask him if he was going into the store? No!
http://www.youtube.com/watch?v=pbzUH90Sm0E&feature=player_embedded

You couldn't pay me enough to live in the US right now, and I have zero desire to even visit.

Manthong's picture

Ah, yes.. 1968.. the good old days

“The policeman isn't there to create disorder. The policeman is there to preserve disorder."

-Pappa Dick Daley

http://www.press.uchicago.edu/Misc/Chicago/465036.html

.. at least these kids now run the country

 

But . it is now springtime in the gun control zone

http://www.huffingtonpost.com/2013/05/01/chicago-shootings-3-kille_n_3191993.html?utm_hp_ref=chicago

BLOTTO's picture

Of course the chaos is going to come...

It says it right here on the back of this $1 USD note

* holds up dolla bill

.

And you know they wouldnt put just any ole symbols and words without a significant meaning.

.

It says, 'Order out of Chaos' (in latin)

.

Unfortunately, the 'order' will be worse then the chaos...

Manthong's picture

-Pappa Dick Daley

not to be confused with baby dick daley for those of you who have any real real understanding of historical context.

Telemakhos's picture

Nihil istiusmodi in Americanis nummis chartaceis reperitur scriptum.  Nothing of the sort is written on US currency.

On the back of the bill are two mottos, which are also found on the back of the Great Seal of the United States:

  • Annuit coeptis: "He approves of what has been started."  It's taken from Vergil, Aeneid 9.625, Iuppiter omnipotens, audacibus adnue coeptis, "Omnipotent Jupiter, approve of our bold beginnings." The line belongs to Ascanius, son of Aeneas, as he prays to Jupiter as he aims an arrow at the native Rutulian (Italian) Numanus, who has been taunting the Trojans and calling them effeminate; after his prayer, Ascanius shoots and scores a headshot.
  • Novus ordo seculorum (=saeculorum): "A new order of the ages." This is from Vergil, Eclogue 4.5magnus ab integro saeclorum nascitur ordo, "a great order of ages is born anew."  In Vergil's poetry, influenced by Epicurean philosophy, time is more or less cyclical: after a run of ages that degenerate from a golden era of peace and prosperity into the harshness of avarice and war, a new cycle starts with a new golden age.  The novus ordo is the new cycle of ages (golden age, silver age, etc.) starting over with a fresh golden age.

On the back of the bill but on the front of the Great Seal is one other motto:

  • E pluribus unum: "From many, one."  There's a pseudo-Vergilian precedent for this in the Moretum, a joke poem (a times rather ribald) about making garlic pesto, the color of which is more or less green but with white chunks of cheese in it: Color est e pluribus unus, "One color is from many ingredients."  This has a further history stretching way back into pre-Socratic Greek philosophy, but at the time of the revolution it was prominent because of its use a century earlier by a British protestant who had founded a popular magazine.

The last motto is probably the one to which you are referring, but I'm sorry to say that it isn't the profound sign of conspiracy for which you're looking. The Founding Fathers were educated in Latin and Greek, but especially in Vergil (always popular), and they pulled a bunch of quotations from his poetry (and the Moretum, which was falsely ascribed to him) when coming up with new symbols for a new country. Real conspirators today are much less likely to know Latin; if you want some real conspirators, look to the LIBOR fixers, to the campaign bundlers and lobbyists, to the central bankers and the not-so-central bankers. They don't sit around reading Latin poetry because they're too busy making money the old-fashioned way: by stealing it.

akak's picture

Telemakhos, I bet you always knew that that classical education of yours was going to come in handy some day, didn't you?

Nice post.

TwoShortPlanks's picture

"Epicurean philosophy, time is more or less cyclical: after a run of ages that degenerate from a golden era of peace and prosperity into the harshness of avarice and war, a new cycle starts with a new golden age.  The novus ordo is the new cycle of ages (golden age, silver age, etc.) starting over with a fresh golden age"

That's pretty much what I've been saying...but I actually mean it in a literal sense!

I firmly believe that the entire Central Banking Network has sold (via BB Leasing) at least 75% of the Central Bank Gold holdings, into the hands of the Elite whom own the Cartel. This inserts Gold at the very base of the BIS/IMF system. The last time (post WWII) this happened, the Gold went into Central Banks from Government Treasuries. The next time it happens there will only be an IOU.

My words again;

"When financial systems collapse the wealth transfer goes into Gold, which then becomes the store of wealth until a new system is put in place, then, the wealth transfer goes back into the new financial system. So, owning Gold is owning a piece of the next financial system, not the current financial system…get it?...This is when Gold is most potent...To own Gold is to own both a commodity which is assigned a Currency value as well as a piece of the next framework, a piece of the next network"
http://www.zerohedge.com/news/2013-04-04/cyprus-shock-turns-anger#comment-3410842

"The Gold was replaced by 'Promise To Pay' and it (the Gold) flowed into the foundations on which the entire building is built (BIS etc). In this way, the building can be knocked down and rebuilt, using the (Gold) foundations over and over again. The Gold never left the structure at all, it was merely reassigned...In essence, the removal of Gold [Standard] meant that the nature of the system transformed from 'Fixed' to 'Recyclable', so long as the [Gold] foundations are retained..."
http://www.zerohedge.com/news/2013-04-04/cyprus-shock-turns-anger#comment-3411112

PREDTCTION: In the coming months I believe we will be made aware that Goldman Sachs, JP Morgue, HSBC etc have all taken physical possession of Gold which was shaken out of the market in the last Take Down. If this occurs, you can rest assured that they are preparing their Life Boats for a collapse which they themselves believe is coming.

"They don't sit around reading Latin poetry because they're too busy making money the old-fashioned way: by stealing it"...I agree, by shaking the tree! (Market Take Downs)

kito's picture

i smell a ratso.................................

The Shootist's picture

How the fuck did MDB get that many up arrows?

El Oregonian's picture

You mean MDB's fragility problem don't you? Because there is nothing that a silver 10" dildo couldn't rectify and bring him around to adoring silver again.

true brain's picture

At seven in the morning, Jack Riley got a call from law partner, Tim Berfuckee, who wanted to buy all of Jack's silver for twice the price. Being a smart dude, Jack turned on the tv and sure enough the early TV show of Presstitude were all clamoring with news of the dollar demise. The bond market imploded over night; oil, gold, silver and commodities are at a hundred times the price of previous day. They even showed clips of bankers jumping out the windows in Manhattan. As Jack watched TV in disbelief, his wife Betty sneaked up on him with a hug and thanked him for saving their family. THe shining stack of silver in the corner of the room will put food on the table.

 

Big LOL.

Antifaschistische's picture

If they confiscate a 401k...and swap for gov debt.   What do they do with the confiscated assets?   That's just paper too!  Liquidate?  to who?!!   No one would buy a stock after the government just stole it all.  So, do they sell it to Sovereign bond holders to swap equity for their US Treasuries?

If you confiscate a 401k (which i'm prepared for but that's another story) then you completely destroy faith and you immediately Ctrl-Alt-shift to Argentina.  

Oh well.....we all know, however it happens.....it can't be pretty.

fonzannoon's picture

when they skank your 401(k) it will be in exchange for an income stream now or a future income stream at a certain date that is age dependent. Think immediate annuity. as for what they do with the money they skank? George Carlin was pretty clear about that in his big club rant.

the good news is once they have taken your main retirement asset CNBC will convince you it's now safe to buy equities again.

 In lieu of quarterly statements you will just get pictures of your congressman's balls.

centerline's picture

For christ's sake, I was yelling about this a decade ago.  They aren't going to make good using future labor.  They are going to wipe out savings/retirement/etc.  Promises were lies.  The money is spent and there isn't any way out.  It really isn't any more simple than that.

Hat's off to you fonz - being in the business of this.  My take on it is that the system is very big, global, and not going down without a fight.  Capital is going to run all over the place seeking safe haven and the players will play until the last coin disappears.  USD is still a deep and percievably transparent market relative to communist nations.  Not many other places for capital to shift.  The short term might freak people out if the EU or Japan catches fire first.  We could see some strange things happening, including decoupling of stocks. bonds, gold, etc.  Unchartered territory for sure.

Manthong's picture

"when they skank your 401(k) it will be in exchange for an income stream now or a future income stream at a certain date that is age dependent"

I think that is spot on..

and therein lies the dilemma

do the ones with anything left in the system kill it by bailing before it is stolen?

or.. is the sweet thing is that if enough debtors bail under the right circumstances, the model implodes.  

 

kito's picture

you do realize fonz that by acknowledging that they will skank the 401ks (love that phrase and will shirley use it), you are essentially agreeing with my premise that they will not print their way to monetary destruction, but rather attempt to keep the currency alive and just vacuum out as many dollars as they can from american sheep..................................

NoDebt's picture

"What do they do with the confiscated assets? "

That's a big question.  If you force everyone to liquidate at once, you crash the stock market.  Might be possible- anyone on the buy side as TRILLIONS of dollars are being force-sold would be picking them up at pennies on the dollar.  So there's real opportunity there for a MASSIVE wealth shift (from middle class to rich, primarily, as per the usual).  Still, it's too messy- banks couldn't survive through that to see the profit on the far end.  And we can't have banks failing, obviously.

Or.... the government would simply OWN STOCK in every publicly traded company, by virtue of swapping Treasuries into your account in place of the various (primarily stock) mutual fund shares you used to own.  That has a certain ring to it- government would then have a massive controlling interest in just about every company in or traded in the country.  Then they can feel free to unionize the entire private sector and bully them around while wiping their ass with your hard-earned retirement savings.  The cynic in me says this one hits on all 8 cylinders.  But....

More than likely it will be a more nuanced and phased approach, starting with caps on retirement plan savings (as has already been floated in the President's recent budget) followed by reducing or eliminating the tax deductibility, particularly on any investment that isn't US Treasuries.  Then they do a final elimination of ANY tax deduction while simultaneously requiring percentage of your pay be forced into a government "retirement account" backed by US Treasuries.  They will be kind enough to let those accounts grow tax-free while the money is in there (so they'll tell you it's "like a 401k") but there will be no deduction for contributions on the front end and you will be taxed full income tax rate coming out in retirement as well (double taxation).

The key to the WHOLE scheme, and this is important, will be keeping people contributing (by force, since nobody will do it voluntarily any more) a portion of their paycheck every week.  One time theft does little good as front-running any government action will be through the roof- you MUST keep people paying in an ongoing fashion during the transition. 

The Supreme Court will obviously affirm this since the whole 401k/IRA contraption was set up and brought into being by the government through ERISA in the first place.  They can do whatever they want with it.  And if their back is against the wall (which it will be) they will argue that it is a "tax" in front of the justices and that will be the end of it.

That's how you kill private retirement accounts, steal the money, gain massive control over another aspect of citizens lives and pull the government's balance sheet out of the fire (perhaps only temporarily after all) in one shot.  That's called a win-win in DC.

 

DeadFred's picture

They're just trying to to find a way to add in lots of blow and hookers before they make the plan operational. <Just write them in, no one ever reads the bills anyway>

Mike in GA's picture

don't have to liquidate...rehypothecate...instant multi-trillion $ fresh collateral...what's not to like?

Ranger4564's picture

They are not selling off the asset investments they took from you... geez people... they have the printing presses, and US treasuries are printed too... they will obviously keep what they stole, which is partly where the initial theft occurs, and just print the crap paper they send over to your account. The other nations will likely do similarly. The other nations will not object too loudly, as they will get their cut, and in the end, as long as they get their payments, they don't really give a crap about what happens to the citizens.

Once they have your wealth, they will immediately start stealing from the treasury fund that defines your holdings, and they will slowly start referring to it as an UNFUNDED LIABILITY / ENTITLEMENT.

 

Get ready and gloat in the wisdom of those fucking ghastly words.

 

 

sansnobel's picture

No you see 99.9% of people belive in Unicorns that shit skittles and rainbows if the Gubment says they do.  So they don't need your faith.  They already have your blind fucking obedience to the state just like the mental halfwits in the hermit kingdom of North Korea.

sansnobel's picture

Hell I think most dumb fucking Christians in this country have been made so servile and impotent with (Romans Chapter 13) etc. in the United States they could come into your own house and rape and kill your daughter and wife and because it was the government that did it, most would not bat an eye.  The question everybody should be asking themselves right now is, when is it enough?  Should I snap or just stay in my prozac induced dreamland? 

MeelionDollerBogus's picture

You misunderstand “buy”. You know what a PUT is, right? If exercised a PUT will land you, the loser, with some stock because of an agreement, right? You may not want it anymore but it’s yours.

Now you know what confiscation is, right? Without contract or consent you lose something of value, right?

OK, now put these together: no matter how useless the stock, equity, currency, whatever puts you at a loss you’ll take by force because whatever you value will be taken by force – unless it is beyond reach, if even KNOWLEDGE of its existence is hidden to all who would try to take it.

You know what you’re probably going to end up with? Treasuries maturing in 30 to 100 years, mandated by law... or perhaps an empty account.

MeelionDollerBogus's picture

The Mick Dundee solution: you call that a voibratah,

Naoww THIS is a voibratah

knukles's picture

Put more "con" up on "de fence"
Somebody once said that "Maria should get a boob job."  He didn't mean titties, either.

McMolotov's picture

Do we have to pay for Part 2? Because I lost everything betting on Facefuck, but I really want to hear what happens to Jack, and I'm hoping Marisa gets naked at some point.

johnQpublic's picture

Jack was dollar cost averaged at 17 dollars so was able to hold onto his stash

Marisa is a lesbian though, and shes leaving jack

He gets the house, she gets the 401k

Hacked Economy's picture

<reads McMolotov's comment, almost chokes on spoonful of Chef Boyardee while laughing>

Bring on Part 2!  I propose a contest between MDB and McMolotov to see who writes the best version.  :)  We'll vote as we read them.

IrritableBowels's picture

You must be dipping into your food reserves...

PiratePawpaw's picture

You have convinced me.

I'm switching right now to stacking slices of SPAM............

.....should I fry it first?

Sleepless Knight's picture

Yes, fry it and put it on toast with some mustard, or fry it and put in on a block of rice wrapped in seaweed - Musabi.

Manthong's picture

sounds tasty..

might want to put some wasabi on the musabi.

EmmittFitzhume's picture

I am Jacks complete lack of surprise! Surprise that most haters don't see the golden(and silver) forest through the trees!

Jekyll_n_Hyde_Island's picture

Chronicles of an equity Muppet

  PT 1

  It’s four in the afternoon; Kevin spins his smart phone in the air whistling a randomly organized tune.  It’s been a good day.  It’s been a good quarter for Kevin.  He hears the warming, familiar sound of the closing bell ring on the smart phones of other long-coat-clad, scarf wearing sophisticates strolling in the park with him.  He can’t keep a self-satisfied smirk from his face.  Teeth show between his lips -- risk paid yield to more risk on Kevin’s investments.   He was able to take all the accrued interest from previous gains and reallocate into an high yield security issued by a very reliable dealer.  The rest of his money he diversified into stocks across the three major American markets with a sprinkle in hedge on 2yr bond.  A yacht, his own restaurant, all Kevin’s dreams seemed within reach.

  The sound of the closing bell is distorted with the rhythmic hum of a thousand phones purring in unison.

  The metrosexual, facial manicured muppets stand, sweating, pupils dilating, reading twitter feeds and Bloomberg updates:

  "In after-hours trading, a major equity firm has discovered an algo fixing hft scheme colluded by major companies and a rival up-and-coming firm.  A whistle-blower has announced that the firm has been shadow funding fake stock recoveries from real market dumps.   Major investors are pulling everything they can from wherever they can, and in a split second, everything Kevin ever had is gone.

 

Hacked Economy's picture

<to borrow from a famous South Park episode>

"...aaaaaand...it's gone!..."

DeadFred's picture

He likely won't lose more than 60-70% before the markets can successfully open for trading. He will still have enough for a taco truck and a rowboat for weekend fishing trips. Who knows, he may be happier.

The Gooch's picture

You hear that, Kevin?

There isn't enough Benbeard to weave your para-cord.

 

Yen Cross's picture

  Part 1   <  MDB knows the gig is up. His 'Mc Playland' pal didn't show up at 'Jack Hole'.