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Yet Another Debt Chart That Is Not Big Enough To Fit Japan

Tyler Durden's picture


By now every single chart laying out every possible permutation of a hopelessly insolvent and overlevered world has been compiled, created, colored and in some cases, animated and socially networked. The following chart showing global debt dynamics over time from the WSJ is no different: it is animated (check) it has lots of pretty colors (check), and it is quite informative because it remembers that in addition to public sector debt, there is a thing called the private sector (sadly it avoids shadow debt: perhaps someone good at making 3D animated charts should take a stab?) and succeeds in incorporating everything in one cool animation.

Yet why it may be most memorable, or not as the case may be, is that it is merely the latest chart in a seemingly infinite series which are just not big enough to fit Japan.  Perhaps it is time to make a chart of all the charts that need to be bigger to show the true Japanese state of affirs.

That, or in reverence to the sadist joke, pardon "experiment" (as Jens Weidmann would say) that is Abenomics, we can finally start making bigger charts.

Interactive global debt dynamics chart after the jump:


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Fri, 05/24/2013 - 15:51 | 3596804 The Thunder Child
The Thunder Child's picture


World Wide March Against Monsanto

TOMORROW 2pm Everywhere

Get out and let your voices be heard, help to stop GMO and the takeover of our food supply!

Monsanto can be stopped, the first victores have all ready been won

Fri, 05/24/2013 - 15:55 | 3596821 El Oregonian
El Oregonian's picture

Monsanto? Is that japanese for DOOMED?

Fri, 05/24/2013 - 16:47 | 3596968 James_Cole
James_Cole's picture

US 2012, 86.4% public debt 260% private debt. Success! 

Fri, 05/24/2013 - 16:50 | 3596982 salvadordaly
salvadordaly's picture

If I read the chart right, it's a race to the top right corner. If I am correct we are sitting in good position to reach it first. Come onnnnn USA!!!!!

Fri, 05/24/2013 - 15:58 | 3596835 Jekyll_n_Hyde_Island
Jekyll_n_Hyde_Island's picture

I'm not usually into thread jacking -- but the above request is worth considering.


  Monsanto is a Lucifarian corporation.

Fri, 05/24/2013 - 16:15 | 3596850 The Thunder Child
The Thunder Child's picture

I think that'll be the last one for today, been dropping them all over the net. Natives on ZH are getting restless...never for self promotion only for selfless and worthy causes.

Fri, 05/24/2013 - 17:44 | 3597115 e-recep
e-recep's picture

enough with fairy tales. these guys are after profit, and lots and lots of it, period. and not after some made-up deity. get real people. religion is an opium, get rid of it.

funny that some guys despise the media and hollywood for hypnotizing the masses yet cannot see the fact that religion is doing the same thing.

Sat, 05/25/2013 - 01:01 | 3597936 WallowaMountainMan
WallowaMountainMan's picture

keep your O/T's to the back pages...

" but the above request is worth considering".



Fri, 05/24/2013 - 16:02 | 3596845 orez65
orez65's picture

"... stop GMO and the takeover of our food supply!"

What a fucking pathetic trivial bull shit!!!!!

What about "... stop fiat money, fractional reserve banking and continual wars ..."!!!!!!!!

Fri, 05/24/2013 - 16:07 | 3596857 JohnnyBriefcase
JohnnyBriefcase's picture

All fairly petty concerns when you can't fucking eat bro.

Fri, 05/24/2013 - 16:16 | 3596886 dtwn
dtwn's picture

You're not going to be able to eat due to fiat destroying food prices, not from GMOs.

Fri, 05/24/2013 - 16:36 | 3596932 JohnnyBriefcase
JohnnyBriefcase's picture

You can GROW and HUNT your own food you fucking retard.


I'm just going to assume you are a troll at this point.

Well done.

Fri, 05/24/2013 - 17:00 | 3597012 dtwn
dtwn's picture

Umm, no shit.  Garden and fish myself.  Don't know why the troll accusation.  The average person living in the city or suburbs doesn't have the skills, knowledge, or access to land in order to derive calories from it.  For those reasons, the majority of our human population is going to be subjected to fluctuations in food prices.  Those food prices are very likely to be impacted by the death throes of fiat.  

Fri, 05/24/2013 - 17:33 | 3597093 James_Cole
James_Cole's picture

The GMO companies have been conducting a massive & extremely dangerous experiment in fucking with nature to predictable failure.

If this were academic research it would be chalked up to a failed hypothesis, but instead these companies use their profits to hire PR firms and top lawyers to win a PR campaign rather than demonstrate that the science works. 

Certainly there are scientists who sincerely believe they can defeat nature, but most folks with brains know the correct name for such people - idiots. 

Fri, 05/24/2013 - 17:39 | 3597096 MisterMousePotato
MisterMousePotato's picture

Mel Barthalomew (and others) would disagree with you with respect to most people living in the suburbs, and many people living in the city.

Fri, 05/24/2013 - 16:23 | 3596906 They trynna cat...
They trynna catch me ridin dirty's picture

Or when the food you eat is making you sick, physically and mentally.

Fri, 05/24/2013 - 16:07 | 3596858 Bobportlandor
Bobportlandor's picture

I had corn last night and it's not as good as it was in the 60 70s.

I want real food back,

Fri, 05/24/2013 - 16:17 | 3596891 kaiserhoff
kaiserhoff's picture

Different kind of corn Bob, but then again, is anyone as good as he was in the 70s?

As good once as I ever was?

Fri, 05/24/2013 - 16:25 | 3596911 They trynna cat...
They trynna catch me ridin dirty's picture

Try organic non-GMO food, or as our grandparents called it, "food."

Fri, 05/24/2013 - 16:13 | 3596874 BLOTTO
BLOTTO's picture

With all due respect orez...

That is far from trivial...its just as important as the other 'fronts' as i like to call them where the elite is attacking us.


In no particular order:

Front 1 - destruction of financials

Front 2 - destruction of food/water (monsanto)

Front 3 - destruction of gender (gay agenda, feminist agenda)

Front 4 - destruction of religion (rise in atheism)

Front 5 - destruction of family

etc...Divide & Conquer. Period.

All just as important as the other as it is designed to physically, mentally and spiritually turn us into unmoral, mindless zombies.


Fri, 05/24/2013 - 16:26 | 3596916 klockwerks
klockwerks's picture

Blotto, all correct and thanks

Fri, 05/24/2013 - 16:51 | 3596986 James_Cole
James_Cole's picture

Front 4 - destruction of religion (rise in atheism)

Wth?? How's atheism the destruction of religion? People go ahead and believe in whatever they want I don't care, just as long as I'm free to not believe in any of it. 

Fri, 05/24/2013 - 17:10 | 3597037 The Thunder Child
The Thunder Child's picture

Not to put Blotto's post down because it was spot on but 1,2 and 4 should be 'control' instead of destruction.

Fri, 05/24/2013 - 20:02 | 3597411 blueRidgeBoy
blueRidgeBoy's picture

one caveat?  just no meat cleavers.  definitely no meat cleavers.  otherwise believe in whatever you want

Fri, 05/24/2013 - 17:24 | 3597076 Jekyll_n_Hyde_Island
Jekyll_n_Hyde_Island's picture

+1 BLOTTO -- you have restored some of my faith in the ZH community.


  You see, my faith in ZH, it's been wavering lately with a bunch of new or waking up from hibernation full Monty retards and twits, (your down votes) espousing and voting about shit they have no idea about.  Perhaps I was disillusioned to think that this would be a magical haven from stupidity.

Fri, 05/24/2013 - 16:15 | 3596883 dtwn
dtwn's picture

When food inflation goes parabolic, you stupid fucks will be begging for GMO foods. Remember that little drought in the US last year? Combine crop losses from climate with rising energy prices and you'll be paying out the ass for a tortilla. GMOs are the left's equivalent of climate change for the right. Monsanto is not taking over our food supply. They offer a product that helps some farmers under some circumstances. Read the farming forums, see what the people who actually use those products for their living say about them. Not everyone uses them, many farmers still use naturally bred crop varieties as they yield better. Edumacate yourself rather than regurgitating 'everything's a conspiracy' bullshit.

Fri, 05/24/2013 - 16:32 | 3596917 The Thunder Child
The Thunder Child's picture

As an FYI Monsanto has hired some serious muscle both on the Internet and in the physical to manage their disinformation campaign. They have recently started working with Blackwater:

Here is some food for thought:

French gmo research finds monsanto corn causes cancer

Proof that gmos cause cancer severe liver and kidney damage and early death

Gmo corn and roundup caused cancer and killed rats

Monsanto sues farmers seed patents

Farmers fight monsanto


Fri, 05/24/2013 - 16:43 | 3596959 RobD
RobD's picture

Here is a little tip, all corn be it GMO or not is not our natural food. We have not evolved to eat grains of any type so it's best to stick to what the human race evolved on. If you cant spear it or pick it up of the ground and eat it raw then don't eat it.

Fri, 05/24/2013 - 17:28 | 3597047 akak
akak's picture

Actually, that is not true at all.  Modern humans are NOT cavemen!

For 10,000 years humans have been practicing agriculture, and it is naive and uninformed to believe that we have not evolved at least to a fair extent to capitalize on this bounty.  Just look at northern and eastern Europeans, and some central Asian populations, who have demonstrably evolved to digest dairy products, which is not a 'natural' ability or the natural state of humankind.  Also notice the relative tolerance to alchohol among those populations (Middle Eastern and southern European) who have been producing alcoholic beverages the longest, as compared to those who have only recently been introduced to it, such as American Indians and Eskimos, among whom the tolerance for it is radically less if almost nonexistent.  Clearly, human evolution has continued in the last 10,000 years.

That said, I am suspicious of GMO food as a whole, and have nothing but contempt and outrage for virtually every aspect of the underhanded and supremely corrupt business practices of Monsanto --- they exemplify in my mind the sociopathic, manipulative, out-of-control tactics of modern corporatism at its very worst.

Fri, 05/24/2013 - 18:12 | 3597183 prains
prains's picture




their entire motive is to capture the food chain

Sun, 05/26/2013 - 15:39 | 3600002 Kobe Beef
Kobe Beef's picture

Simple Rule: If it comes in a box or a wrapper--don't eat it.

Fri, 05/24/2013 - 16:50 | 3596981 dtwn
dtwn's picture

I can't comment on the Blackwater link as I know nothing about it.  I don't know what the implications are but, meh, they are a security company, they'll have many clients.  Again, just speculating I don't know anything about this.

Your next three links reference that French study.  If you haven't been following the story after its release, that study was widely discredited, it was extremely sloppy science for a number of reasons.

Your next links about the lawsuit.  OK.  The Supreme Court ruled in the favor of Monsanto.  The issue at heart is an IP issue, and a big issue in the biological sciences in general regarding genes and patents.  It is going to be a long while before these issues are sorted out.  Are there any other companies that haven't sued to protect their product?  Monsanto is no better or worse.

Fri, 05/24/2013 - 17:03 | 3597003 James_Cole
James_Cole's picture

The Monsanto approach DOES NOT WORK, monocultures DO NOT WORK.

Biodiversity is the solution to a host of agriculture related problems and Monsanto is fighting nature tooth and nail chasing patents and profits. 

Monsanto IS the problem not a solution to ANYTHING. 

I've heard so many of these guys explain how the GMO approach will work and they'll be able to keep up with inevitable resistance etc.

Nature always wins. You either play by nature's rules or you lose. Already Monsanto can't keep up. 

Fri, 05/24/2013 - 17:03 | 3597013 The Thunder Child
The Thunder Child's picture

Monsanto, the main stream media, the pharmaceutical cartel and the banking cartel are all owned by the same group of people.

The make billions from GMO patents and Trillions more from a sick and cancerous population. Genetic engineering is their way to patenting and owning the food supply. Control of the food is control of the population.

It absolutely can not be allowed.

The World According to Monsanto GMO Documentary

Fri, 05/24/2013 - 17:25 | 3597077 Croesus
Croesus's picture

@ dtwn:

If Monsanto's products were so safe, than they wouldn't be OPPOSED to GMO products being labelled as such.

I find it interesting that Monsanto only serves ORGANIC food in their cafeteria in St. Louis. Why aren't they indulging in any of those "better than God can do it" products they're creating?

This doesn't require an edumacated mind to understand, just an observant one.

I'm extremely suspicious of anyone who says "It's good for you to do, but I'm not going to do it".

To repeat my post from earlier: FUCK MONSANTO.




Sat, 05/25/2013 - 01:35 | 3597966 bunnyswanson
bunnyswanson's picture (EPA reverses view on fluoridated water).

I can bring in a pic of mice fed nothing but GMO grain so you can see the tumors on their bodies.  Or I can tell you that the patent on the seeds means if you are a farmer, and there are only Monsanto seeds on the shelf, you are fucked.  Or I can tell you that if Monsanta guerrillas show up at your farm and test plants to find a few seeds of theirs in your garden, you'll have to burn the whole field down.

Or I can tell you the fucking GMOs are causing the pollination process to be tainted with ROUNDUP INSECTICIDE / HERBICIDE and may just be killing off the bees.

Or I can say that seeds of Monsanto produce are suboptimal, fragile, crack and cause the seed to be rendered USELESS.


The food supply should not be tampered with by corporations who have only one thing in mind (PROFIT AND CORNERING THE MARKET).

Fri, 05/24/2013 - 17:37 | 3597090 BigInJapan
BigInJapan's picture


Here's another tip. You said "They have recently started working with Blackwater". You may want to get yourself up to speed on that one while you and your Occupy buddies at HuffPo pass around the bong because Bro, Blackwater is like totes not Blackwater, yo, or some junk and stuff...

You'd know that if you had any like business like referencing them.


The source quoted by your source says "One of the most incendiary details in the documents is that Blackwater, through Total Intelligence, sought to become the "intel arm" of Monsanto, offering to provide operatives to infiltrate activist groups organizing against the multinational biotech firm." "Sought to become" and nothing else.

Yet another disingenuous barf of links, George Washington hit-and-run style.

Jesus, do you fucking hippies even read the shit your handlers tell you to spread around?

Thread highjacking in the highest order, this one was. Well done, whatever monosyllabic name you've cut the longer one your parents gave you down to.

Meanwhile, debt...

Fri, 05/24/2013 - 17:39 | 3597102 James_Cole
James_Cole's picture

Over the past several years, entities closely linked to the private security firm Blackwater have provided intelligence, training and security services to US and foreign governments as well as several multinational corporations, including Monsanto, Chevron, the Walt Disney Company, Royal Caribbean Cruise Lines and banking giants Deutsche Bank and Barclays, according to documents obtained by The NationBlackwater's work for corporations and government agencies was contracted using two companies owned by Blackwater's owner and founder, Erik Prince: Total Intelligence Solutions and the Terrorism Research Center (TRC) 

Fri, 05/24/2013 - 17:39 | 3597105 The Thunder Child
The Thunder Child's picture

Anything intelligent to add to that ad hominem?

What the articles does say, however, is that Monsanto and Blackwater are indeed working together to target anti-Monsanto activists and organizations.

Known as far back as 2010, Blackwater’s client list included Monsanto, Chevron, Walt Disney and many more.

According to documents obtained by Scahill, it was also revealed that Monsanto was willing to pay upwards of $500,000 in order for Blackwater to join anti-Monsanto activist groups and infiltrate the ranks. Furthermore, a number of Internet-based tactics could be utilized as incognito PR for Monsanto, who undoubtedly knew opposition would mount against their GMO crops as more individuals became aware of the dangers.

Fri, 05/24/2013 - 17:46 | 3597119 BigInJapan
BigInJapan's picture

Trying to go back in and edit my comment because I've come off like a fool. System won't let me.

Oh well. Sorry about that, TTC. I was way out of line. Not too proud to say so.

In my defence, it isn't even 7AM here and I ought ot have woken up before ranting.

Fri, 05/24/2013 - 18:02 | 3597142 The Thunder Child
The Thunder Child's picture

I'm actually a business professional and quite humble, far from what you may think. I kind of wish they hadn't stuck the Occupy name on this march, the media did a good job conditioning people to associate that word with jobless hippie potheads.

Apology accepted.

Fri, 05/24/2013 - 17:54 | 3597145 James_Cole
James_Cole's picture

Based on how rough this week was makes sense folks are a bit edgy! Was so stressed this morning my whole body was aching. 

Fri, 05/24/2013 - 23:34 | 3597832 bjfish
bjfish's picture

Hey sounds like Monsanto runs a tight ship, maybe I should pick up a few shares.  What is their ticker?

Fri, 05/24/2013 - 16:37 | 3596944 They trynna cat...
They trynna catch me ridin dirty's picture

The same snakes who created the fiat scam also created the food scam. Between the time food leaves the farm and winds up in the supermarket, it is wrung dry of virtually all profit by every middleman shyster from here to Tel Aviv. Futures contracts, the commodities exchange, fiat games, the parasites have a huge bag of tricks with which to cheat producers out of their just recompense.

The farmer farms and produces, the parasites run their three card monty/shell game on him, and the farmer now finds himself cheated out of his harvest and even owing money to them. They've been playing the same games for centuries; that's why the Czar of Russia, answering the complaints of the Russian farmers, quarantined them all in a backwater where they couldn't do any more damage. Now that all the guardians have been overthrown to make way for 'democracy,' we are lambs for the slaughter.

Fri, 05/24/2013 - 16:55 | 3597000 dtwn
dtwn's picture

Wow, lots o downvotes for promoting education.  ZHedgies appreciate being shown the data when it comes to the dissintigration of our currency and 'markets'.  But asking you people to go look at the GMO data for yourselves results in downvotes?  OK.  Also, FYI, it appears according to some farming forums that among farmers Monsanto isn't the worst ag company out there.  Pioneer (or "Big P") garners a lot of wrath from them.  

Fri, 05/24/2013 - 17:11 | 3597032 The Thunder Child
The Thunder Child's picture

Downvotes were for an expletive and propaganda filled rant. Most here know the evil deeds of this company, have done their homework and can sniff out shills.

Fri, 05/24/2013 - 17:13 | 3597049 bahaar
bahaar's picture

One cannot grow naturally bred crop next to a farm growing GMO crop.  Crops cross pollinate.  Don't know if crop crossed with GMO crop results in virile or sterile seed.  

Fri, 05/24/2013 - 17:18 | 3597061 The Thunder Child
The Thunder Child's picture

The important point is that the naturally bred crop contaminated by the GMO patented pollen is then owned by Monsanto under patent laws.

Fri, 05/24/2013 - 17:33 | 3597089 Jekyll_n_Hyde_Island
Jekyll_n_Hyde_Island's picture

dtwn -- you should take your own advice.


  I've talked to hundreds of farmers and researched objective, reliable non-conspiracy reports on Monsanto.  Every piece of non-biased evidence points to responsibility for major crimes against humanity.  I'm not into conspiracy theory.  Elvis isn't alive, we landed on the moon, JFK was shot by Lee Harvey Oswald and reality is for the most part what we see.  That's why this forum exists, because we all see the market and price fixes.


  Monsanto moves into poorly developed indigenous markets and fleeces them of their currency and value and then leaves them destitute with seed unable to reproduce because of their intellectual property.


  They are fucking evil man, and they are responsible for horrible diseases and untracked side effects from their product. 


  You, sir, are the stupid fuck, whose anger is a direct byproduct of your ignorance.  Go hop into a Bill Mahr forum, you'll be right at home there FRIEND.

Sat, 05/25/2013 - 13:50 | 3598443 psychobilly
psychobilly's picture

"JFK was shot by Lee Harvey Oswald."

" You, sir, are the stupid fuck"

lol.  The irony.

If we need "your opinion" on any further matters, we'll just turn on the boob tube.  Your presence is no longer required here.

Tue, 05/28/2013 - 16:02 | 3604758 Jekyll_n_Hyde_Island
Jekyll_n_Hyde_Island's picture

Your prose above betrays your fraying grip on reality.  Just go a head and take your shirt off Psycho Billy -- you're a few shades from "bat shit crazy" already - no use in trying to fool anyone anymore.  Your sort of conspiracy addiction is the exact thing that pollutes this forum.

Fri, 05/24/2013 - 16:56 | 3597002 Croesus
Croesus's picture

FUCK MONSANTO (and the jackoffs who support them) 


(In case you couldn't tell, I will be protesting tomorrow.)

Sat, 05/25/2013 - 00:56 | 3597931 WallowaMountainMan
WallowaMountainMan's picture

YO!!! thunder thing.

if you're gonna o/t, pick a crappy article to do it to...

at a dime a dozen, o/t first posters are overpriced.


Sat, 05/25/2013 - 01:19 | 3597949 Curiously_Crazy
Curiously_Crazy's picture

Am just about to leave for the event around my neck of the woods. Never been to a rally before but fuck it! Enough is enough!

Fri, 05/24/2013 - 15:55 | 3596817 slaughterer
slaughterer's picture

When does the US join Japan at the top?  US always wants to be number 1 after all.

Fri, 05/24/2013 - 15:58 | 3596834 LawsofPhysics
LawsofPhysics's picture

As soon as all that private debt is passed on to the public and the taxpayer.  The socialization of private losses continues...

Fri, 05/24/2013 - 16:13 | 3596878 negative rates
negative rates's picture

Not in this life time, to much denial and corruption to get it right.

Fri, 05/24/2013 - 16:19 | 3596898 ebworthen
ebworthen's picture

"U.S.A.!  U.S.A.!  U.S.A.!"

Fri, 05/24/2013 - 15:56 | 3596825 Shigure
Shigure's picture

UK and Portugal on the same spot!

Fri, 05/24/2013 - 15:57 | 3596830 slaughterer
slaughterer's picture

Guess the banksters didn't take Kev' to the Hamptons.  The wonder boy is pounding up the ES in the last few minutes.  

Fri, 05/24/2013 - 15:58 | 3596833 realtick
realtick's picture

the WSJ doesn't know that japan is always represented by a red circle?

i'll overlook that - great graphic

Fri, 05/24/2013 - 16:04 | 3596848 Dr. Engali
Dr. Engali's picture

Hey that comment was a borderline  HR violation. Consider this as your first warning.

Fri, 05/24/2013 - 16:19 | 3596899 kaiserhoff
kaiserhoff's picture

I'm not gonna flag anyone except Ilene, when she starts bitching about straight white guys who work for a living.

Fri, 05/24/2013 - 16:00 | 3596836 The Heart
The Heart's picture

Charts, charts, charts. Are they like the weather predictions?

No matter what good people, we must all endeavor to persevere in the face of the insanity and corruption that runs amok in our beautiful world.

Here by the grace of God is a fine example of the determination of this grand heart to inspire us all to keep on keeping on.

Pray for good comforts to come to this brother.:

Fri, 05/24/2013 - 16:26 | 3596915 chubbyjjfong
chubbyjjfong's picture

Thanks for link.  What a 'big balls' awesome human that young man is.  That had to hurt like crap when he dropped that 20lb barbell practically on his knee! That takes big kahunas to do what he does!  Great vid and a reminder to us all to get out there and give it shit loads!  

Fri, 05/24/2013 - 15:58 | 3596837 LawsofPhysics
LawsofPhysics's picture

I like Russia's odds this time around, just saying...

Fri, 05/24/2013 - 16:14 | 3596882 Sofa King Confused
Sofa King Confused's picture

Funny isn't it. That Putin might be the only one left that can save the rest of us.

Fri, 05/24/2013 - 20:06 | 3597425 blueRidgeBoy
blueRidgeBoy's picture

he won't

Fri, 05/24/2013 - 22:33 | 3597710 Element
Element's picture

Yes, the one country where a full-reset already happened, and people already had to go-it-alone through a protracted depression and currency collapse cycle.

Fri, 05/24/2013 - 15:59 | 3596839 mademesmile
mademesmile's picture

The big blue bubble is moving up rapidly.

Fri, 05/24/2013 - 16:00 | 3596842 Headbanger
Headbanger's picture

Japan is just floating off the chart.

Fri, 05/24/2013 - 16:30 | 3596854 Rainman
Rainman's picture

maybe that why it called the ' land of the rising sum ' < apology>

Fri, 05/24/2013 - 16:02 | 3596844 slaughterer
slaughterer's picture

What a horrible correction on the ES today.  A whole .07% loss.

Fri, 05/24/2013 - 16:03 | 3596846 Bobportlandor
Bobportlandor's picture

Whats Ireland problem? don't they like to play in the sandbox.

Fri, 05/24/2013 - 16:09 | 3596860 Dr. Engali
Dr. Engali's picture

Oh the agony, a whole point off the S&P. I hope we don't have any roof jumpers from this horrific correction.....well maybe a few banker roof jumpers.


Time to watch Maria tell me to BTFD.

Fri, 05/24/2013 - 16:08 | 3596865 Gloomy
Gloomy's picture

From Ted Butler this evening;

In the last paragraph of the January 5 Weekly Review; I made reference to something I was working on that I preferred not to disclose at that time. I’d like to do so now and ask for your assistance. A little over a year ago, a subscriber sent me a constructive suggestion for how to force the CFTC to do their job and end the silver manipulation. Since I had promised myself that I would never leave any stone unturned in the attempt to end the manipulation, I followed Jeff’s suggestion, although I admit to doing so with as close to zero expectation for success as was possible. The suggestion was to complain to the Government Accountability Office (GAO) about the CFTC. I filed a complaint on their web site hotline and promptly forgot about the matter. After all, over the years I had complained to every government agency possible and never heard back from anyone.
In December, I got a follow up call from the GAO that caught me so much by surprise that I didn’t know why they were calling me at first. They requested additional information (which I provided) and I have had several conference calls with the agency concerning my allegations of malfeasance by the CFTC in matters related to the silver manipulation. It was only after the first phone call from the agency that I took the time to find out what this agency was all about and I suggest you do the same.
I thought I knew it as the General Accounting Office, but the name was changed in 2004. What I also learned was that this was a unique government agency, separate and distinct from all the other federal agencies, including the CFTC. The GAO reports only to Congress and exists to ensure that all the other federal agencies stay on the up and up. In a practical sense, the GAO is the Inspector General of all the federal agencies. As such (and you can verify this on your own), this agency seems tailor-made to investigate why the CFTC won’t do its job when it comes to the silver manipulation.
Generally, the GAO audits and investigates as directed by law or congressional mandate, ideally at the request of the leadership of the congressional committee that has requisite jurisdiction. However, they can take some cases on their own initiative and that is the approach by which things have advanced to date. I took this approach and stayed quiet about it because I was concerned that as soon as JPMorgan learned of this initiative, they would call in their political favors and make sure any review by the GAO of the CFTC was squashed. That may still turn out to be the case, but that fear is not enough so as to not try at all.
According to my read on the situation, the GAO is interested in pursuing the matter, but a request to investigate from the right committee or representative would seal the deal. I can tell you that in my conversations with them to date, this agency sounds fiercely independent and interested in doing the right thing. What is the right thing in my view? The right thing would be an impartial and objective review for why the CFTC won’t conclude a more than 4.5 year formal silver investigation or make any comment about the unusually large price takedowns that are unique to silver. You know the CFTC would not tolerate such price volatility in any other market, only silver. Can you imagine the uproar if it was the stock market that fell 10% in thin Sunday evening dealings?
I believe that an impartial review of the CFTC by the GAO could end the silver manipulation. At the very least, it would be most welcome to hear from an objective government source which is not tainted by the conflict of having denied a silver manipulation has existed on countless past occasions over decades. If you agree, here’s what I would ask you to do. First, please check and see if your elected representatives are on any of the following committees that have jurisdiction over the CFTC. Don’t let that stop you from contacting the appropriate chairmen directly or your own representatives even if they are not on the appropriate committees. (energy, natural resources and infrastructure)

If you decide to contact your representatives, email me ( and I will send you my email exchange with the GAO which you can then forward to your elected officials. Each representative has an email system that you must work through that favors actual constituents. In this case email is better than snail mail, as it can take a month to screen correspondence through the postal system. And please follow up by phone and email.
All you have to do is forward my email correspondence to the GAO (which I will send to you upon your request) with a cover note saying that the GAO is considering investigating the CFTC’s handling of the silver market and you are asking that your senator or congressman to also ask the GAO to investigate. Please ask that your representative ask the committee chairman to request that the GAO investigate the CFTC on the issue of the never-ending silver investigation and the agency’s refusal to comment on the unusual price takedowns in silver. It will take a few minutes but it just might make all the difference. The idea is to get a fair and impartial investigation, something that the CFTC is not capable of.
I wouldn’t ask you to write to the CFTC any longer, as it is clear that they are not about to lift a finger to end the manipulation. I don’t regret doing so in the past, but the time has long passed to appeal to the CFTC. The GAO prides itself on its integrity and impartiality and I think they are up to the task of getting to the bottom of this. Your involvement may make the difference. But please keep it to the unresolved silver investigation and the lack of regulatory reaction to the extreme price takedowns.
In closing, please remember these are not trivial matters and you are appealing to those at the highest levels of our country whose job it is to deal with such important issues. I believe that makes it a noble quest. And it sure beats suffering silently.

Fri, 05/24/2013 - 16:17 | 3596888 ebworthen
ebworthen's picture

When your outliers don't fit on the chart something is very, very, wrong.

Fri, 05/24/2013 - 16:21 | 3596897 NipponMarketBlog
NipponMarketBlog's picture



Following each country in this dynamic chart, it is clear that the general trend is (not surprisingly) that the private sector builds up debt, which is then gradually transferred to the public sector through various bail-ots, and public sector borrowings to 'stimulate activity', the latter of which invariably ends up being monetized by the country's central bank.

However, note also that the resultant inflation - which is the greatest transferral of debt (which is another way of saying "someone else's wealth") - is not captured by this chart.

Fri, 05/24/2013 - 17:57 | 3597150 css1971
css1971's picture

I think you just described the Kondratrieff cycle.

Fri, 05/24/2013 - 16:24 | 3596908 q99x2
q99x2's picture

Thing is with FRAUD being the main source of statistics these days how would anyone know what the chart should really look like.

The US and the UK should be at the top, way way up there near the ceiling.

Fri, 05/24/2013 - 16:40 | 3596950 css1971
css1971's picture

It's because Americans would have an inferiority complex if they found the US's debt was smaller than Japan's. So they scale it such that the US looks bigger.

(my wife explained this to me)

Fri, 05/24/2013 - 17:50 | 3597134 s2man
s2man's picture

I'm big in Japan.

Fri, 05/24/2013 - 16:46 | 3596964 thisandthat
thisandthat's picture

I love those nordics showing south how to keep domestic economy sound...

Fri, 05/24/2013 - 16:49 | 3596978 RobD
RobD's picture

Notice how everything jumps there at the end?

Fri, 05/24/2013 - 17:06 | 3597022 nomorebuyins
nomorebuyins's picture

Look out for space junk up there Japan.

Fri, 05/24/2013 - 17:19 | 3597064 besnook
besnook's picture

before the yen there was the sen and rin. the rin was 1/1000 of one yen. the coins were in circulation until 1953. they were useful until ww2. after the yen there will be the mon(1000 yen). lol

more evidence of the quadrillion yen coin being designed and minted.

the meiji era is an interesting pertinent time to study.

Fri, 05/24/2013 - 17:25 | 3597078 falak pema
falak pema's picture

Here is an interesting viewpoint from AE Pritchard  of Telegraph the celebrated financial analyst that should raise some eybrows :

Fri, 05/24/2013 - 18:05 | 3597169 besnook
besnook's picture

seems easy, especially since the fed did it, buy the long end to control the short end. the key to this scheme working is refiring the atom splitters which will give japan a positive trade balance to pay off the escalating debt.

the other goal is to raise interest rates enough to give mrs. watanabe some more nominal income for discretionary spending hopefully in line with inflation or even a little ahead of it.

the most accurate description of abenomics ids the "hail mary pass". i don't think japan will just accept defeat if the pass fails in a game with a perpetual clock. i think they have another desperate play in the works if this fails.

Fri, 05/24/2013 - 18:13 | 3597176 BigInJapan
BigInJapan's picture

I think that I'm with Kyle Bass on this one, and Pritchard can continue his dreams of the past when the UK actually made something... I'm sure he'll get plenty of invites to speak at the various pro-Abenomics events ones sees over here.

"This is what Takahashi Korekiyo achieved with such brilliance in the early 1930s, setting off a boom and falling debt ratios. Though he also forced the BoJ to finance fiscal spending too to kickstart recovery. I am not against that either if it works. In fact in it is a rather good idea (for Japan, not the UK obviously)."

Yes, but considering that much of Japan's industrial capacity at the time was put in place by the zaibatsu for the sake of the military...

FromWikipedia: Despite considerable success, his fiscal policies involving reduction of military expenditures created many enemies within the military, and he was among those assassinated by rebelling military officers in the February 26 Incident of 1936. And Japan has major stockpiles of plutonium just sitting around... and Mitsubishi both makes most of the military hardware here, as well as runs the "space program", then...

One way or another, Abenomics will lead to the same end as did Takahashi's - war. They won't get much of a boom in before that, though. Lame pun fully intended - 0711h and I'm not yet up to speed.

Fri, 05/24/2013 - 17:49 | 3597127 s2man
s2man's picture

Hey, that chart make Argentina look good !

Fri, 05/24/2013 - 17:49 | 3597130 pashley1411
pashley1411's picture

Odd to have an econmic chart where poor beat-to-hell Argentina looks good.

Fri, 05/24/2013 - 18:42 | 3597230 kennard
kennard's picture

This WSJ chart is propaganda.

U.S. government debt is not 86%. That is federal debt only, excluding treasuries held by the Social Security Trust Fund. That is the same as saying that Social Security is 100% unfunded, which is probably true when push comes to shove. The real U.S. federal debt is 104%. Further, State and local debt needs to be added to be an apples-to-apples comparison: total 123% or so?

U.K. and Netherlands private debt is vastly over-estimated, since it includes the debt, but not the asset side, of their financial industries.

On the flip side, the U.K equivalent of U.S. Social Security (~70% funded if you acknowledge U.S. federal debt to be 104% of GDP) and the Canada Pension Plan (95%+ funded), is 0% funded (100% unfunded), a multi-trillion pound problem for the U.K.

Unfunded liabilities by modern welfare states dwarf these numbers. However, how much of this will be politically resolved? Canada is phasing its Old Age Security entitlement from 65 to 67 over the next decade. However, in the U.S. this is considered a political third rail. As for "developing" countries, many will need to take on welfare state commitments over the next decade or face political unrest, which means, for example, China's public debt will rise dramatically.

Finally, the acid test, so to speak, is net external debt denominated in a foreign currency. Suddenly Japan, Italy and the U.S. look pretty good by comparison.

The authors want to lead the reader to think that "Japan is in trouble", which is the mindset du jour of the hedgies.

Otherwise, we learn less than nothing from this presentation.

Fri, 05/24/2013 - 19:25 | 3597334 bugs_
bugs_'s picture

save the trees!  don't use log scale!

Fri, 05/24/2013 - 23:31 | 3597828 bjfish
bjfish's picture

Hey sounds like Monsanto runs a tight ship, maybe I should pick up a few shares.  What is their ticker?

Sat, 05/25/2013 - 01:09 | 3597941 WallowaMountainMan
WallowaMountainMan's picture

there is no doubt.

classic zh humor.

listening to what the others say.

for exactly what it's worth.





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