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Ron Paul & Jim Rogers: "There's More Chaos To Come"
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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The 20th? Santa doesnt come around my house until 24th ...just sayin...
That's the start of Kwanzaa, duh.
Been a big fan of Taleeb's from the day his first book (Fooled by Randomness) was published several years ago.
Based on my 45 years of investment experience, the biggest error made repeatedly by Wall Street is caused by a lack of appreciation of the risk inherent in what is being done. This is true and will remain so because Wall Street is a sales organization, primarily. Is a car salesperson going to mention, "Hey, by the way, that new Dodge Charger could easily get you killed"? Did any of those Nobel winners running LTC recognize that they were actually hedging bonds with bonds...and that just maybe there could be an event causing all bonds to drop?
Failure to quantify the amount of risk being shouldered (usually unknowingly) versus the reward, which is always very clearly seen and described, though it may never exist in reality, having been upstaged by 'risk'.
No they understood exactly what they were doing. They simply wanted their free lunch and greed persuaded them to ignore the risks.
The risks are always appreciated, but ignored becuase they are greedy.
I think that individually WS player can quatify risk, to their paycheck. nothing else matters to them. Othere studies have proven that they are pathologically incapable of caring about other people, say like their clients.
A very unsatisfactory read. Sheds little light. Taleb himself feels guilty for "attacking a non-nasty guy." But I know something Taleb doesn't. Trying to have a discussion via a broken comment engine like Twitter or Youtube invariably leads to molotovs and hand grenades being lobbed. The reason is the frustration people feel at having to squeeze their thoughts into 134 chars or 500 chars. It forces them to put out their strongest, most incendiary ideas, to which the person responding does likewise...and pretty soon you're off. Tweeting is crack candy for an ADHD society hooked on sound bites. No coherence. No flow. No resonance. Extremely low signal to noise ratio. In a word, worthless as a form of communication.
>>>worthless as a form of communication.
The AP tweet hack was anything but worthless. If anything, it was more exposure of these criminals. They need Saudi justice. Whack their hands!
NOTE TO TPTB: The galaxy-class irony is that the US does not need any 'help' from Taleb, its sovereign rivals (Russia, China...) or 'enemies' (real or contrived) to destroy it. It's doing a phenomenal job of it all by itself. That's the real tragedy.
We have gone so far downstream on this wild river, that we can cannot reverse course. We can only choose to either hunker down and ride it out, or get out -- if possible and realistic. Both choices depend on our skill, courage, determination, and cast of fellow-passengers. Good luck.
Bernanke looks over his shoulder, "who are those guys"...........when the million words a minute can't seem to explain it, Ron Paul just needs a sentence....."There are so many distortions because we disobeyed economic law - no matter what Bernanke tell's you." - Ron Paul
People here on ZH spend alot of time yamering about this. What are you people prepared to do about it?
Don't look at me, every time I buy gold I lose it boating.
It just hit me, my million dollar idea. I have been waiting for this since i was a boy. What is it you ask?
Well with all the boating accidents and losing of your hard earned PM's. Iv'e got the answer. It's the "PMFD" Precious Metals Floatation Device !
That's right, your very own PM saving device! Never worry again about the dreaded "boating accident". Your PM's will float on the surface even if you or the boat don't!
Call today to recieve this precious PM saver! First 100 callers recieve a second "PMFD" for the price of one!
Call 1-800-KEEP IT UP, CALL NOW!!!!!!!!!!!!!
No offense sal but I object. The whole purpose is to sink the metal. Some asshole even started a website on the notion. A better idea would be the Precious Metals Protection Device or "PMPD" for longterm corrosion and abrasion free undersea storage. I think you would see your sales increase dramatically.
"Asshole" has a pretty funny and damn good site... :)
Gold will not corrode at the bottom of the sea!
That's is a very high compliment DoChen coming from someone such as yourself! Thank You! As for the gold, that is why I included the "abrasion" part.:-)
PMFD has been taken for years now by Banksters and is screamed at Ben in perpetuity. Print More Fiat Douchebag. Yes, TPTB scream PMFD ASAP and BB hits the HP inkjet, FWIW.
You lose it every time? Unless you have a learning disability, don't you know that you're supposed to lose it only once? Right before it's banned/taxed. ;-)
Practice makes perfect - chapter 1 of Losing Precious Relics in Boating Accidents (and Other Unfortunate Mishaps) for Dummies: The Gold Bug edition (non-paperback print, FRB printhouse, QE collection).
Is it better to have had gold, and lost it, or to never have had any gold at all?
I just had finished grinding it to dust, for some reason, when a gust of wind came and blew it all away.
Most probably will not cancel Tv or Hollywood's shit. They have used TV for the past 50+ years to control the sheep.
If that's all it takes, then they were Sheep to begin with, and have always been controlled in some form. Like, by their Feudal Lords and Church programmers.
If you want to put this to the test, then... Who controls the Controllers, and who controls them? The choice to be educated, informed and a critical thinker is not determined by the media, but by ... You!
No Fate But The One We Make!
Take ownership and stop bleating.
Yeah, good luck with all the retards watching American Idol.
One cannot change human nature. We will not convince the leeches to become productive, the criminal to become honest, the banksters to do the right thing or the government to adhere to the Constitution.
We can exchange ideas and viewpoints (yammering if you will), and we can use this shared knowledge to better prepare ourselves for the times ahead. Preparation can take many forms, and depends upon each mans situation.
In my case, I have taught myself to become self sufficient in most of my food supply. I have put myself on a sound financial course based on frugality and storing accumulated wealth in precious metals, weapons, ammunition and other productive assets. I am improving my fitness. By understanding what is happening and why, I can better prepare for what lies ahead.
Your mileage may vary.
http://www.meattrapper.com/
There's a hit for your Wordpress analytics.:-) Conibear 220=1 Racoon=0. Love those traps.
+100, to each his own. Thanks for th link. Haven't done that in years but will refresh my knowledge and figure out where I can buy some new traps.
Buy gold and silver.
Does anyone have a link to the entire seminar? Looks interesting.
We asked that before. Apparently nobody does. I searched Google but only found a couple short excerpts.
you have to own one of simon's gringo priced one bedroom casitas in the chilean paramo replete with mermaids in the swimming pool and gold toilets................otherwise NO VIDEO FOR YOU......................
These countries are on TILT.
what are the mechanics of officially devalueing a currency?
"what are the mechanics of officially devalueing a currency?"
The Federal Reserve's FOMC (Federal Open Market Committee) and POMC (Permanent Open Market Committee) buy Treasuries and worhtless mortgages and commercial paper through their primary dealers (the Too Big To Fail Banks).
They pay for this shit with US Dollars created out of thin air.
And, here I thought those Fiatscos were extruded from Bernankes monkey butt.
At these events sold by Simon, does Simon actually get up in front of people to be physically seen? Or is he dressed all in black with a hood? Just wondering.
Seems happy enough...
Combined IQ of around 120. Rogers can't even get his pedophile bow tie straight. When he makes any kind of economic call that is remotely correct, wake me up. (Right around the time gold hits $3000.) Of course both these geniuses peaked in 1957. And it's been downhill ever since.
Our scary "government" sends Ron Paul a fat check every month, which he is not sending back. He only supplements his government income by biting the hand that feeds him while pimping his catalog of Paranoia Wares at "events" like this, and on the Black Helicopter Channel.
America is an insanely wealthy capitalist paradise, that is in little danger of collapse (unfortunately) anytime soon, and proves it by making millionaire "celebrities" out of buffoons.
Fear and sex are among the top saleable commodities worldwide !! ....the pimps are everywhere !
"America is an insanely wealthy capitalist paradise, that is in little danger of collapse (unfortunately) anytime soon, and proves it by making millionaire "celebrities" out of buffoons."
Insanely wealthy? hardly. Are there some with insane wealth? Absolutely. Russia has the most billionaires. http://www.usatoday.com/story/money/personalfinance/2013/04/23/richest-7... 93% of us, or most you arrogant fucking asshole, are not doing well. This is why my biz keeeps cutting down on staff. We currently have a skeleton crew. Thank God I am the longest employee. As for breeding narcissistic fuckheads like you, why yes we are number one in that. Good News: Some time in the next two weeks we will eclipse 17 trillion in debt and all of the other countries are increasingly dumping our currency. Stay the course. Fucks like you can clean my boots with your tongue for a bag of rice later on.
+1 IR
Hey now I'll up you one on that+ 2PieR
IRebel are you a porn actor?
You would NOT wanna see my fatass fuck.
Oh. Well you mentioned you were the longest employee at your company, and thus wouldn't be let go.
The dick is big but so is the stomach.
roadlust BRAVISSIMO! well said! apparetnly the groundlings here are a little sensitive about their idols made of clay and their precious illusions.
No, shithead, I understand reality.
http://www.cnbc.com/id/100461159
http://www.financialsense.com/contributors/dan-collins/rise-petro-yuan
http://www.zerohedge.com/news/2013-03-31/thanks-world-reserve-currency-n...
http://www.theatlantic.com/china/archive/2013/03/is-the-chinese-renminbi...
Bury your head in the sand and see what happens. I got rice for you too.
IridiumRebel I remember when you gave me advice on the output of portable generators after Sandy.
I sure hope you're using Z/H guidance, and bugging out with 5-6 monitors and an internet connection. ;-)
ZH has been a wealth of knowledge. We are circling the wagons. Surveillance is last on the list. We are just prepping to move away from NY right now. We have the basics. Honestly, what we have is just to make it through an "event" for about 3-6 months. My main goal right now is finishing my law degree because I fully understand that the most damage will be done by a pen and not a weapon. Yes, I know lawyers are snakes, but you gotta fight them at their venue.
<<<<<I got rice for you too.
Nah, just give him the fish head.
No, we are sensitive to the fact that you are an asshole. So keep on using four syllable or greater words while at the same time making simple spelling errors and we will upgrade you to Total Fucking Pretentious Prick status not only for what you are stating but how you state it.
America is an insanely wealthy capitalist paradise, that is in little danger of collapse (unfortunately) anytime soon, and proves it by making millionaire "celebrities" out of buffoons. hey ass clown. rogers was dead on on the US dollar rallying months ago when he was interviewed in Singapore. And he was equally dead on - even more so - on agriculture! you fucking bone headed twit. Are you even paying attention!? To anything? The thing about fuckers like you, is that you offer nothing of value to anybody ever. You're a fucking dead weight loss to society, you know - that little fucking triangle that arises from government interfering with the market with price floors and price ceilings - that little triangle where nobody gets fuck all. Thats what you are man. And thats all you will ever be. Fucking POS.
amen. also, rogers made a good call on a gold correction happening. Has been saying this for some time. It always pissed me off too. He was right on though.
Now, finally, he stated "I hope I'm smart enough to buy" around 1300, he'd buy, and 'if it goes to 1200, I'll buy more". This was on an asian cnbs type show, within past week.
A disciplined call, and now becoming more and more right on the money.
I meant this to be a cool zh 5 word post...damn,,,rogers describes some of his success being attributed to...something like, waiting for the time when there is a pile of money and no one wants it and he'll just go over and scoop it up.
Worst recollection of the quote, hopefully it gets the point accross. So just like with gold, he was not in any rush to buy this past year, and now, he may be far closer to buying after this correction. Far from a buffoon, but Pareto took care of that already.
You may be correct. In 1987, Rogers was fully invested in water stocks as the water crisis loomed. In 2013, Paul speaks of disobeying the laws of capitalism. Capitalism is based upon assumptions. If the assumptions do not hold water, one must consider other options, especially concerning the false commodities: land, labor and money. Treat them as commodities and you destroy capital.
Now which "fat check" would that be? Social Security? Oh yeah...that's a fat check alright. ::: rolls eyes::: He declined the government pension, btw.
if you werent so busy being a douchebag you would know dr paul has declined his .gov pension asswipe
Ron Paul has about 70% of his assets in gold mining stocks and PM's, so he is following what he preaches.
They can keep my "fat" social security checks and stuff them up their asses, but stop the immoral wars and the corruption and abide by the US Constitution.
I'm sure that Ron Paul feels the same way about his "fat checks".
I've seen better trolls.
I believe it was Jim Rogers who said around 2002 on tv "now's the time to start buying Gold." (Anybody can remember more details or have a link?)
Even though I knew at the time that Jim Rogers had never been a PR-whore, I just shook my head in total disbelief.
Now here we are 10 years later...
What kind of gas mask should I get? And for Children?
All the good unissued military M40 masks at a reasonable price were gone by Fukushima. M40 mask size small can be adjusted to fit children. DoD then promptly banned all military suplus sellers and eBay from selling military masks. Now, they are hard to find and expensive. I don't trust the old new stock from Czech or Israel. Find a good civilian mask that takes 40mm filters or has an attachment for them. That is the last best affordable option IMHO.
What about this?
http://www.ebay.com/itm/Swiss-SM74-Gas-Mask-40mm-Filter-Bag-Antifog-Kit-...
I'll take the upvotes as good.
I have 2 of the Israel masks and they seem to really fit tight, well made and do have the siphon tubes. At 68, if they don't work for the misses and I, no big deal.
Luckily you have absolutely no clue what you're talking about... "banned all military suplus sellers and eBay from selling military masks"
"The Marketplace Fairness Act"
My understanding is that George Orwell's Estate has just filed a Copyright infringment suit, along with theft of intellectual property.
Ron Paul understands. Too bad the average voter didn't. We really had a chance to save our republic....
Cut the military budget in half. That will eliminate half the deficit right there. Half of it is bloat and useless weapons systems anyway.
Cases in point. Air Force said it no longer needs the C5A Galaxy. Tried to send them all to the boneyard and mothball the beasts but Congress said no. Would cost too many jobs in their home district. F-35 strike fighter expected to cost over $1 trillion over its operational lifetime, now critics say it is near obsolete on delivery. Forward deployed military bases. Do we really need 150 of them? You get the idea. There's plenty of room for slash and burn in the military budget.
+1 Do you have a handy link? That's potentially bloggable material for me.
Nah. This shit just sticks in memory. Google is your friend. The C5a story though is only a few days old. Here's the first link I pulled up in a Google search:
http://www.standard.net/stories/2013/04/23/congress-preventing-air-force-retiring-idle-planes-budget-cuts
WASHINGTON -- Parked around the airstrip at Lackland Air Force Base are more than a dozen massive C-5A Galaxy transport planes. There is no money to fly them, repair them or put pilots in the cockpits, but Congress rejected the Air Force's bid to retire them.
What's google? For this time, let us forget your comment. You made an assertion and I asked you for A LINK to support your assertion. I don't have time to validate your assertions for you. Don't get me wrong, I like your posts.
Just gave you one homie. Want me to research and write your blog for you too? Don't be a pest.
My first question was "who were these elites addressing?" Chile? I didn't get the invite, but obviously the speaker roster was heavily fringe nay-sayers.
In europe they have already taken our retirement accounts. They just send you slips with an amount on it, but you can only cash it when they determine you have reached the correct age (which keeps shifting backwards), so they have probably dumped it in Greece or some other corrupt government.
So all they have left taking is bank accounts themselves.
Not sure who you mean when you say "Europe". At the moment, my UK retirement account still belongs to me and I could have bought an annuity with it anytime from age 50. But I do expect it to be expropriated and replaced by govt gilts sometime soon; the UK govt is completely bust and can't stop spending.
That said, Gordon "Jonah" Brown (yes, him again of UK economic crash fame) in his first budget back in 1997 immediately introduced a new tax on pension funds which has already cost the pension industry somewhere around £6-7 billion per year ever since. Whereas the UK private pension industry used to be one of the healthiest, it's now broken.
Add to that a complete collapse in annuity rates since QE/Zirp were introduced and my pension fund won't buy a pension worth enough to pay the monthly bills.
All of that was not just the consequence of Blair/Brown's socialism, it was the intention. Brown always despised "the rich" and anybody with a private pension is classed as rich to him and his Marxist comrades.
Is it just me, or does it feel more like Friday on Thursday? No comments from the Asian peanut gallery. (one day ahead)
Friday with no POMO! " I'm Happier than a kitten following a leaking cow"...
Rubber ducky day. Time for a drink.
Oh, forgot to mention it is YELLOW and the largest YELLOW duck on record.
India cut rates again
Philippines waiting for a gold star from S&P/Fitch
Time for a drink
The Cartel did a very successful job of driving him to the point of being nuts and then portraying him as a Mr. Magoo character.....
Its hard to imagine any one in Washington not being on the take but if I had to bet money - I'd bet on Ron Paul being for the people by the people......
He is the White Buffalo....
Simon ~
Leaking bits and pieces to get people to your shitty blog sucks and proves you're as self-motivated as anyone.
Post the entirety of their speeches and interactions already. Fuck, I know he's going to be milking this for months.
You know, I signed up for Simon's newsletters only a month or so ago after having seen his "leave wherever you are" theme for a couple of years. I cannot even rember the article/post when I decided to submit my email address. I cancelled two weeks later because of the continuous emails.
Having said that, I am considering re-upping with his site. I find it amazing that he was able to put this many quality honest people together in the same room. Obviosly, he has a talent that I need to reconsider. JD.
I find it very suspicious that Simon Black organized this event. There is more going on here than meets the eye at first glance. +1 anyway.
I believe that Simon Black falls under either Doug Casey or Agora publishing, or possibly both. They have a lot of influence and customers. Easy for them to foot the bill for a set of rock stars.
I strongly beg to differ -- and here's why: You sound like either a Socialist or a Freeloader.
As one of ~ 500 people who took 1 week out of their life and spent thousands of dollars to attend (attendance fee, flight, hotel, food), I fail to see how you are "entitled" to a freebie. Just because you want it.
The entire event took 3 days. There was a professional film crew filming the event (with some parts not filmed, because we wanted some stuff off camera). 'Unplugged'. Do you think that it is realistic or fair to to us, to just "dump" this for you on Youtube?
My personal attitude towards the upcoming video is: Let them cough up or shut up.
As you no doubt know, everyone has a business model and revenue model. Maybe you do. I know the Tylers do. They get paid from ads, because some of us actually pay for the products or services advertized. If you're getting a "free ride" on ZH, enjoy it. But don't expect others to spoon feed your appetite.
"People here on ZH spend alot of time yamering about this. What are you people prepared to do about it?"
first don't ever post your intentions remember the gestapo monitor the web
remember the agent provocateurs in occupy wall street KNOW who you talk to
the fbi has been involved in virtually all us based terrorism they supplied the explosives for the first WTC bombing
if you feel a need to do something just do in and never talk about it
Sound's like Mr. Jizz Funnel doesn't want to do anything himself - just wants to troll suckers into an entrapment situation.
At one time, I went through the same phase as you: Why are they just 'talking' and doing anything?
And then it hit me: Maybe all they want is to "Spread Awareness" and "Educate", while having some fun and making a decent living.
Maybe, in an age of mass-deception (as many here believe to be the case), telling the truth is already an act of 'treason' against a tyrannical Elite. To quote Henry Ford (from memory): "If people knew how money is created, we'd have revolution by the morning".
Timing is everything.
if you feel a need to do something just do in and never talk about it...
That brings to mind a couple stories. The first was a sign a farmer posted in his watermelon field to ward off thieves that said one watermelon in his field is poisoned. The next morning he found someone scratched off the "1" and wrote "2".
The other story was told to me by my father-in-law soon after I married his daughter. He said "never complain about your neighbor's barking dog".
JP Morgan before the Congressional Pujo Committee in 1912 "money is gold and nothing else".
I think the Gas and Oil under our feet belongs to the US Citizens not the oil companies....Yank it away from them, sell it, and pay off the deficit with the proceeds!! (Works for Mexico!!)
That's what I would do....
RP and JR - two inspirations on one screen!
You have to believe the math. Running the numbers proves that economic activity based on a debt bubble simply can't last. Well, it didn't last did it?
Anyone remember all the talk after 2008 that "we need to get people borrowing again" "we need to see house prices rise so people can cash out equity to consume" All this has turned to rubbish. In spite of trillions printed, all we have got is a leap in the earnings of the 1% and the stock bubble. Otherwise, it is just a holding action before the next leg down, you know, the one that rips your face off!
"Anyone remember all the talk after 2008 that "we need to get people borrowing again" "we need to see house prices rise so people can cash out equity to consume""
I do indeed.
I recall vividly saying to people that the solution for a giant debt bubble that had burst was not more debt.
This is where they went wrong from Day One, trying to keep their bubble inflated.
I was right as were others outside of the corridors of power.
There are few other facts which more clearly demonstrate that we are being governed by madmen.
Between money printing and zero interest on deposits, the people of the USA have been getting Cyprussed on a monthly basis for years.
Things are just starting to warm up in earnest.
Spain is definitely getting ready to loot its population (and foreigners living in Spain).
http://www.telegraph.co.uk/finance/personalfinance/expat-money/9907124/S...
"For example, a Spanish resident with €300,000 (£260,000) in an undeclared overseas account would incur the minimum penalty of €10,000 (£8,640), and see the amount taxed at the top interest rate of 52pc. But they would also be fined 150pc of the tax owed and 4pc annual interest going back four years, meaning they would owe the Spanish taxman €424,960 (£368,000), according to figures from Blevins Franks."
Scary shit!
Scary indeed.
Many British expats living in Spain have kept their major savings back in the UK or in offshore accounts for years to avoid annual Spanish wealth taxes. If the Spanish govt finds out it'll be curtains for them. Add to that the massive collapse in the property market with an estimated 2-3 million unsold homes and they won't be able to sell up and repatriate to Britain.
This govt action will not help Spain's tourism industry, already struggling.
We need a bigger boat.
I need another boat.
We need mutiny
R O N P A U L !...HEY!...Where are you?!...
:P
Pensions (in the USA, 401ks, where the % cut on managing it is already a massive chunk from pensions) are the small beans until they get the Sovereign Wealth Funds. They've already cleared out the localized level Public State finances via really shitty deals (mostly JPM there).
Singapore is going to be the real fight, given the social structure of that nation, and the intersection between China, black money and the gateway internet infrastructure that makes it an essential hub [Hint: look up Singapore's corruption index with some Unreal politician salaries over there, or the Aus / dark pool trading hubs being forged - and that was a few years ago now. HSBC is all over that one.]
This has been obvious for a long time now; these old guys are fighting the good fight, but they're not thinking globally.
The secret service couldn't guarantee "Chair Satans" safety at 'Jack Hole' , is my guess. This dog and pony show is over!
The people are fed up!
Sound reasoning, Yen; makes sense. And in my judgment, Bernanke has the aura of failure and the excuse of scheduling conflicts is ridiculous given the tremendous spotlighting the Jackson Hole meeting has been given in recent years.
Everyone will expect the main speaker at Jackson Hole to be the next anointed chairman. Or, in this case, in my view, the chairwoman, Janet “Zero-Interest” Yellen.
Not only is she a dependable banker flack, the media will go crazy with this new elevation for the-hand-that-rocks-the-cradle sex. “I Am Woman, Hear Me Roar!”
My best to Sue Ellen( J.R.).
Bernanke is " Long> Bat-Cave"...
God save " Mother Earth" if Janet Yellen takes the helm, of a(supposed) private banking entity!
I guess we need a little nurturing, Yen, you know, by the “gentler sex” -- the Yellens, the Kagans, the Bader-Ginsbergs, the Sotomayers, the Madeleines and the Hillarys…the Diane Feinsteins and Maxine Waters…
Or, in their case, maybe Ambrose Bierce hit closer to the mark in his Devil’s Dictionary: “the unfair sex addicted to clewless conduct and views that madden to crime… being found wherever sought and deplored wherever found…”
Sue Ellen, well, Sue Ellen is different.
God Bless (Sue Ellen)
>>>The secret service couldn't guarantee "Chair Satans" safety at 'Jack Hole' , is my guess.
Perhaps more people are waking up.
Good to see Bernanke getting it hard in the neck from Jim Rogers.
As I've reminded people before, Jim Willie advocates that Bernanke should have his PhD stripped from him. I agree with that.
When I was a kid I could buy a bottle of pop for 10 cents. Bottle was returnable (collected at the vending machine) ... washed and refilled locally with local workers, wood cases for bottles made at local "box" factories. Pop made with cane sugar.
It was like a dream.
What central bank actions are telling me is that there is an incredible, impending crisis below the surface. You don’t take extraordinary chances with your own banking system the way Draghi did today, as Bernanke now takes every day, unless your face is against the wall.
And one of the crises Draghi is facing is the breakup of the Eurozone. If the EU can’t get Europeans to cooperate with the bank bailouts, with the austerity programs cutting their spending and forcing sovereignties to relinquish their resources to the system, according to Brussel’s dictates, then the bankers face the chance of their entire house of cards collapsing.
Everything about recent moves says crisis, huge crisis!
Draghi and Bernanke are frightening investors all over the world. That’s why stock market volume is so low; that’s why bank buyers can run the market up at will on low volume.
And the overwhelming reason for holding the interest rates in negative territory while prices surge because of inflation is that it’s the only burglar's tool Bernanke has left to keep one of the indexes up, and that’s the stock market. And when that’s gone, he knows it’s political suicide -- for Congress, for the Fed, and for the financial oligarchs’ debt-based monetary system with its goal of an international socialist one-world state.
Market analysis from National Public Radio (NPR) - not exactly your off-the-mainstream media circuit - this morning puzzled why first quarter profits from corporations were coming in less than expected but the stock market is hitting record highs. When NPR begins to suspect something is wrong, you know what? Something is wrong!
Only 43 percent of companies have beat revenue estimates. Alcoa, Proctor & Gamble, Microsoft and Caterpillar are all saying revenues were lower than expected last quarter. GE says conditions are actually worse than it expected. Goodyear’s been hurt with a drop in tire sales; and Apple feels the impact of the global slowdown. But, says NPR, “paradoxically a lot of these companies are often earning bigger profits than they expected because they ‘ve become so good at cutting costs.”
NPR said: “Dow Chemical, for instance, says its net sales fell compared to the same time last year, but its overall profits rose.
Here was Dow's Chief Financial Officer Bill Weideman talking to investors last week. "In total, we have already shut down 17 sites and the remainder are progressing according to schedule. In addition, our workforce reduction targets are progressing ahead of schedule.”
Apparently all of this is causing NPR to ponder what’s going on with the stock market; at one point, it even wondered if it might have something to do with the policies of the Federal Reserve. hahaha
Bottom line: Stick with National Public Radio and you’ll be the last to know. Stick with Zero Hedge and you’ll be the first.
I don't think the people who depend on NPR for financial information have an inkling that ZH exists.
I tried to explain a ZH article about the impending financial implosion to my NPR-devoted-pro-statist neighbor, and he stuck his fingers in his ears and shouted LALALALALALALALALALALALALALALAL, etc. I really don't think he wanted to hear it.
Nice piece, JR.
I think as you say in your other post, Bernanke has the aura of failure about him and is presumably hoping to go quietly before his house of cards collapses. The notion that this guy has a PhD in economics is laughable, if it wasn't so sad.
And I continually wonder how it is that international socialism has quietly taken control of the political elites and central bankers in Western nations. Is there anybody left - apart from Ron Paul and some other enlightened folks - who isn't striving for this venal brand of societal impoverishment with complete disregard for their citizens?
I despair........
You hit the nail on the head, smacker. The fact is, the central bankers are in control and they use the model of socialism because that can involve state control of private property and the rights of citizens. Hence, it fits the purposes of tyrants who would control their citizens for their own power and monetary advantage. Already the power in America is being transferred from the politicians to the bankers and all the bankers had to do was to buy off Congress and the two-party system -- because the power already was centralized.
The answer is decentralization.
Jefferson’s ideal political order called for almost total decentralization, whereby towns would be self-governing and make all their political decisions without outside interference. He envisioned a hierarchical structure of town, country, state, and finally national government. According to Thomas Woods Jr. “his goal was a system in which no entity of a ‘higher order’ would infringe on the just prerogatives of one of a ‘lower order…’”
And here we are today not only engaged on a one-way road toward total national centralization with all decision-making power centralized in Washington and/or executive order in the hands of the likes of a socialist anti-American such as Barack Obama, but more and more legislative functions and American resources are now being delegated to global institutions and banks by globalist puppets the likes of Ben Bernanke.
The answer, IMO, is to close the borders to the current flow of voters who are the insurance for the politicians’ and bankers’ socialist quest, to stop the U.S.’s embarkation upon its career of empire, and to drastically curtail the jurisdiction of the imperial Supreme Court that has assumed an unconstitutional quasi-legislative role that is gutting the U.S. Constitution.
And, of course, U.S. military intervention in sovereign countries must be opposed and the decisions taken out of the hands of our most ardent global crusaders such as Richard Perle, Norman Podhoretz, Henry Kissinger and Dick Cheney.
Most importantly, of course, the Fed must be abolished – America will never experience freedom or free enterprise again if there is no medium of exchange and if private bankers can print their own wealth.
In short, decentralists must set aside their differences and oppose, by revolution if necessary, this “global focus over which we have virtually no control.”
And it will happen. Because it must.
Thanks! smacker.
Dude great info here. Too bad there was not a nice video primer that masses could watch to understand it all. Then you get a revolution!
Not surprised, NPR spends public funding to lobby for more public funding.
zerohedge is a very popular site and is a very reputable site.
is their someway that the higher powers on this site can do something that can lead to the arrests of all the central bankers and wall st bankers around the world?
this situation is so god damn scary, and things are only getting worse. every fucking country is printing money at a remarkable rate, and its going to be us that end up suffering.
u would think that after 4 years plus of trying this shit and seeing how it has only made the economy worse, they would fucking wake up and stop printing, and maybe we would be able to recover eventually.
we would have to suffer at first, but in the long run it would speed up the recovery. with this printing shit, all we r doing is putting our country in so much fucking debt, all of us that are going to be here in the future and r kids will suffer big time, and this is all because of a bunch of criminals that are doing such an outrageous act, yet it goes unpunished.
it makes no fucking sense. something has got to be done. bernanke and all central bankers deserve to fucking be put in prison for life, all wall st bankers as well, and obama must be impeached. this is unacceptable
Shoot them dead.
Welcome to hell buddy. This is it. There are no higher powers. It's just us. A bunch of stinky humans in a gravity well and no way of escape.
It is incredibly painful to watch them continue to do such destructive things. When they started the $85 billion a month bubble building exercise at the beginning of the year, I made someone a bet that within 4-6 months they would be planting the seeds to increase it to $100 - $125 a month. It would then go ever higher from there. Yesterday, we had the first seed planted. I assume they are dumb and have no concept that money printing and ZIRP are actually slowing the economy, but maybe they do and are just evil and trying to cause inflation to bail out bad bank debt. Problem is that is a long way off without wage gains and wages are global and not controlled by them. They are putting the banks before the people and have no care at all that people on fixed incomes are getting killed, resources are being misallocated and risks of a monetary disaster are rising.
With Japan doubling down again after a couple decades of failure, Europe and the US have no choice as the currency war goes nuclear. Asset prices are likely to continue to move further into bubble territory in the months ahead. The only thing we can pray for is that one of the remaining free markets starts to mess them up. For instance, maybe oil goes ballistic along with other asset prices. So far, it is not acting like other commodities and has held up. I guess they call it black gold for a reason. A sustained oil price rise will slow the economy and flow into the inflation numbers. The Fed will deny anything to do with it at first and may react to the slowdown by printing even more, but that probably wouldn't help their cause.
The reality is that no one knows and maybe this goes on for a good long time until we have a full blown monetary crisis. If you thought the 2008 financial meltdown was pervasive in its destruction, imagine what a meltdown of the reserve currency would do. Central bankers should be crapping their collectivist pants that the demand for physical precious metals has blown through the roof the past few weeks, though who knows since most were sleeping during the multifold increase over the past decade or so. The free market is voting against them and fiat currencies, albeit in a small way for now, but when we go game on, things move fast.
“[T]he effect of Japan's QE will be similar to that of the US in that much of the money will wash around the world being leveraged higher by X10, perhaps X20 to INFLATE ALL ASSET Prices ALL OVER THE WORLD. That and the obvious response of other governments to engage in their own further QE's in an attempt to counter Japan's competitive devaluation of the Yen which is generally termed by the media as the Currency Wars though which should more correctly be termed as Inflation Wars for that is the lasting impact of money printing."
--Nadeen Walayat, editor Market Oracle
http://www.marketoracle.co.uk/Article39855.html
What they are doing makes perfect sense, to thier masters. Its all in the protocols and unfolding according to plan. Banking is just one of the agendas main pillars. Some of the lower actors believe they have been chosen by God to lead and use us lower types who are not the chosen. Looks to me like the great deciever did the choosing and is using these psychopaths to further his agenda. After they wreck things enough and bring us low war is next on the agenda. We are supposed to beg them to step in and establish peace and order, we'll see how that works. The internet has helped those who want to find truth glue the bits together. That red pill sure induces nausea but taking it is the price of freedom.
"is their someway that the higher powers on this site [ZH] can do something that can lead to the arrests of all the central bankers and wall st bankers around the world?"
I Wish :-)
This would indeed be a happy day !!
its starting to become know as the ZH indicator...the more negative the articles, the higher the market goes...love it...squeezing those shorts who are probably all Ivy league MBA's
Ok I want to kick out the banksters and hire them to run my country.
Do any of you BITCHEZ want to be popular? LMFAoFriendly!
I just want to be left alone with my family and close friends. BITCHEZ
Earn your way into my life, and be enriched...
I completely agrre with Rogers that the retirement accounts will be taken and replaced with treasury bonds.
“They won’t take our bank accounts…they will take our retirement accounts.” - Jim Rogers
To which i say: "What retirement accounts?"
It can be a tough call, but strongly consider dropping the US Treasury as a permanent 35% investing partner in "your" retirement account. Or maybe that's 43.5% now.
Anyhow, I've terminated all plans, and sleep better for the experience.
Enough of the gentlemen, let Nigel talk!
The West is boring and self absorbed within it's zombie corpse, change the f*cking channel to this:
http://www.dailymail.co.uk/news/article-2318389/Two-Chinese-incursion-le...
Asian cold war about to go hot?
Nasty.
They won't levy your bank accounts. Why steal what you've already stolen.
Tax deferred retirement accounts will become "taxed" and confiscated when the boomers begin to withdraw much of their savings in mass destabilizing the banking system.
I'm of the uncommon opinion that they will not take our retirement accounts as long as they don't take our guns. If they take our guns, all bets are off. Gold is not money, nor a currency per our authorities, but gold just happens to be required from Cyprus by the IMF to pay-off Cyprus debt. Maybe they should have turned over title to their real estate, instead of a barberic relic?
Farage, Paul, Rogers - the dream team
Confiscation? I've no doubt whatever that this is their plan, but OVER MY DEAD BODY!!!!
Rogers and Paul make for great theatre. Not crediting the Chairman and his cohorts with extreme intelligence is one of the seminal blunders in modern financial history. Paul, I can understand, he's just a crack-pot fringe loony, but Rogers is a saavy and renown player. How he can miss the end-game is fascinating.
A new "drawing rights"-based World reserve currency is a certainty, is being actively facilitated as we speak and will be unleashed sooner than most can imagine with a formulaic partial gold backing. I will guarantee Soros is positioned accordingly and was undoubtedly consulted at length. Jimmy R may actually be on the outside looking in 'this time'.
Unless he's hedging. You don't think that sly fox got rich by showing his hand to all, do you?
I do not agree with you remotely regarding Bernanke or the Fed, but... I fear that you are right about SDRs headed our way.
I've also learned that the more discerning crowd is on other sites, and this crowd is meat & potatoes -- which is fine -- but it's straight forward demographics: gold, silver, and Prepper gear. Mostly blue collar Libertarians. Also has a number of coin & bullion dealers. Asset diversification by asset classes and geographic diversification does not hold here, overall.
If you want a group of people more accepting of a different opinion and not be personally attacked, you need try elsewhere.
Chaos perhaps, loss of rights already here.
http://www.sovereignman.com/trends/this-is-what-it-means-to-be-free-in-america-11754/
Be careful how you check out of hospitals. Especially checking children out of hospitals. If possible use non hospital medical care.
"They..."
What a great summation of the problem, in one word, and yet nobody can articulate what "they" means.
How about "The Collaborators" then..??
I LIKE YOU!
And I Like Just About Anyone Who Likes Me...!! When does the Yen Cross get unwound..?? Do you think it is truly unilateral or is Japan flying solo? I smell a sequential re-valuation of the Euro very soon and I think the $ will spike and the yen will stand aside and let it all happen for the 'catch-up'
The only collaboration is a communal self-protection -- collaboration is not the right word.
C,
I respectfully disagree. For all the reasons, and then some, that the 'system' is off the rails and virtually defunct, do we really believe that "The Collaborators" are that clueless as to let a complete melt-down ensue? I just cannot buy that.
Without recriminations, for some current players like the Chairman and Mr. Mario, did have a role in the debacle we are in, they KNOW we are bust. They have to know. They are not fools. I have believed there is a "Plan" ever since the crudely choreographed oddities of the week of July 23rd 2012, where AAPLs huge miss and poor guiidance was telegraphed by Hilsenrath and Liesman, follwed by De Guinos being rebuffed by Schaueble, followed by Merkel and Hollande, followed by Mario's "I'll do ANYTHING...", followed by Merkel and Monti. Then, the following week, the FOMC and ECB sat on their hands. Since then, we have had an Indian 'flash crash' with BOTH the Chairman and Sec G. showing up in Delhi just after, then various mini blackouts, sytems failures, mini and MAXI "flash crashes", etc. No Euro fixes. No ECB interventions. Fed QEs. Japan's 'pancake' and so forth.
And the inanity of a no-volume, no-belief, algo-jammed "market"...
WHY..??
Because, "The Collaborators" know they need to CRASH IT. Because what must come is so novel and upsetting, plus the cleansing of all the unsustainable excesses is facilitated. And from those ashes WILL emerge the real fix, to be rolled out accordingly.
I believe we will see a NEW World Reserve Currency, in a formulaic, partially hard metal-backed, "drawing rights" regime administered by a new collective with MUCH more representation from the emerging G-20 players (BRICS, Korea, Aussies, etc.). The Yanks and the Europeans have blown it and their dominance will be partially usurped by the up and comers.
That is what I believe WILL happen. And SOON...(before year-end..!!)
No... this is how it looks when nobody's minding the store.
This is about the endgame of self-absorption, and it will happen again in a couple hundred years or so.
Chaos can be a simple thing, if you peer through the appropriate lens.
"are that clueless as to let a complete melt-down ensue?"
That's an easy one -- absolutely.
There is finally no wherewhithal to behave any differently.
Plus, most all of QE has gone into record excess reserves of the banks and stayed there:
http://research.stlouisfed.org/fred2/series/EXCRESNS
The ONLY explaination for a Fed-facilitated inflation of bank reserves is that the Fed KNOWS what is coming and the banks NEED to be flush and are...!! We'll see it soon...!!
The Liberal establishment...
They want to take everything you own and transfer it to the jewish bankers and the black welfare queens and the mexican illegals.
This is not a racist rant! It's the utter truth. Somebody out there prove me wrong.