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The Biggest Ponzi Scheme In The History Of The World

Tyler Durden's picture


Submitted by Michael Snyder of The Economic Collapse blog,

Did you know that you are involved in the most massive Ponzi scheme that has ever existed?  To illustrate my point, allow me to tell you a little story.

Once upon a time, there was a man named Sam.  When he was younger, he had been a very principled young man that had worked incredibly hard and that had built a large number of tremendously successful businesses.  He became fabulously wealthy and he accumulated far more gold than anyone else on the planet.  But when he started to get a little older he forgot the values of his youth.  He started making really bad decisions and some of his relatives started to take advantage of him.  One particularly devious relative was a nephew named Fred.  One day Fred approached his uncle Sam with a scheme that his friends the bankers had come up with.  What happened next would change the course of Sam's life forever.

Even though Sam was the wealthiest man in the world by far, Fred convinced Sam that he could have an even higher standard of living by going into a little bit of debt.  In exchange for IOUs issued by his uncle Sam, Fred would give him paper notes that he printed off on his printing press.  Since the paper notes would be backed by the gold that Sam was holding, everyone would consider them to be valuable.  Sam could take those paper notes and spend them on whatever his heart desired.  Uncle Sam started to do this, and he started to become addicted to all of the nice things that those paper notes would buy him.

Fred took the IOUs that he received from his uncle and he auctioned them off to the bankers.  But there was a problem.  The IOUs issued by Uncle Sam had to be paid back with interest.  When the time came to pay back the IOUs, Uncle Sam could not afford to pay back the debts, pay the interest on those debts, and buy all of the nice things that he wanted.  So Uncle Sam issued even more IOUs than before so that he could get enough notes to pay off his debts.  As time rolled on, this pattern just kept on repeating.  Uncle Sam repeatedly paid off his old debts by taking out even larger new debts.

Meanwhile, since the notes that Uncle Sam was using were backed by gold, everyone else in the world decided to start using them to trade with one another.  This was greatly beneficial to Uncle Sam, because the rest of the world was glad to send him oil, home electronics, plastic trinkets and anything else that Uncle Sam wanted in exchange for his gold-backed notes.

Eventually, however, the rest of the world started to suspect that the number of gold-backed notes that Uncle Sam was issuing far exceeded the amount of gold that Uncle Sam actually had.  So the rest of the world started to trade in their notes for gold.

And by that time Uncle Sam definitely did not have enough gold to back up his notes.  Realizing that the scheme was starting to collapse, one day Uncle Sam announced that his notes would no longer be backed by gold.  But he insisted that the rest of the world should continue using his notes because he was the wealthiest man on the planet and everyone should just trust him.

And the rest of the world did continue to trust him, although it wasn't the same as before.

As Uncle Sam got greedier and greedier, he started to issue IOUs and spend notes at a rate that nobody ever dreamed possible.  The great businesses that Uncle Sam had built when he was younger were starting to decline, and Uncle Sam started buying far more stuff from the rest of the world than they bought from him.  The rest of the world was still glad to take Uncle Sam's notes because they used them to trade with one another, but they started accumulating far more notes than they actually needed.

Not sure exactly what to do with mountains of these notes, the rest of the world started to loan them back to Uncle Sam.  It eventually got to the point where Uncle Sam owed the rest of the world trillions of these notes.  Even though the notes were losing value at a rate of close to 10 percent a year, Uncle Sam somehow convinced the rest of the world to loan him notes at an average rate of interest of less than 3 percent a year.

One day Uncle Sam woke up and realized that the amount of debt that he owed was now more than 5000 times larger than it was when Fred had first approached him with this ill-fated scheme.  Uncle Sam now owed more than 16 trillion notes to his creditors, and Uncle Sam had already made future financial commitments of 202 trillion notes that he would never be able to pay.  Meanwhile, the notes that Fred had been printing up for Uncle Sam were now worth less than 5 percent of their original value.  Uncle Sam was becoming concerned because some of his other relatives were warning that this whole scheme was about to collapse.

Sadly, Uncle Sam did not listen to them.  Uncle Sam knew that if he admitted how fraudulent the financial scheme was, the rest of the world would quit sending him all of the things that he needed in exchange for his notes and they would quit lending his notes back to him at super low interest rates.

And if the rest of the world lost confidence in his notes and quit using them, Uncle Sam knew that his standard of living would go way, way down.  That was something that Uncle Sam could not bear to have happen.

When a financial crisis almost caused the scheme to crash in 2008, a desperate Uncle Sam went to Fred and asked for help.  In response, Fred started printing up far more notes than ever before and started directly buying up large amounts of IOUs from Uncle Sam with the notes that he was creating out of thin air.  Fred hoped that the rest of the world would not notice what he was doing.

It seemed to work for a little while, but then an even worse financial crisis came along.  Once again, Uncle Sam started issuing massive amounts of new IOUs and Fred started printing up giant mountains of new notes to try to fix things, but their desperate attempts to keep the system going were to no avail.  The rest of the world started to realize that they had been sucked into a massive Ponzi scheme, and they lost confidence in the notes that Uncle Sam was using.  Suddenly nobody wanted to lend notes to Uncle Sam at super low interest rates anymore, and people started asking for far more notes in exchange for the things that Uncle Sam wanted.

Uncle Sam's standard of living dropped dramatically.  Since he could no longer flood the world with his notes, Uncle Sam could not continue to consume far, far more wealth than he produced.  Uncle Sam sunk into a deep depression as he watched the scheme fall apart all around him.

Uncle Sam had once been the wealthiest man on the entire planet, but now he was a broke, tired old man that was absolutely drowning in debt.  Unfortunately, once he was down on his luck the rest of the world did not have any compassion for him.  In fact, much of the rest of the world celebrated the downfall of Uncle Sam.

All of this could have been avoided if Uncle Sam had never agreed to Fred's crazy scheme.  And once Uncle Sam made the decision to stop backing his notes with gold, it was only a matter of time before the scheme was going to collapse.

Does this little story sound crazy to you?  It shouldn't.  The truth is that you are involved in such a scheme right now.  In case you haven't figured it out, "Uncle Sam" is the United States, the "notes" are U.S. dollars, and "Fred" is the Federal Reserve.

Please share this story with as many people as you can.  Our country is headed for complete and total financial disaster, and we need to get people educated about this while there is still time.


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Mon, 06/24/2013 - 17:37 | 3688739 Kirk2NCC1701
Kirk2NCC1701's picture

The biggest Ponzi = PEOPLE

Mon, 06/24/2013 - 17:42 | 3688758 NotApplicable
NotApplicable's picture

The saddest thing about this article is the fact that it had to be written.

Mon, 06/24/2013 - 17:48 | 3688769 ZerOhead
ZerOhead's picture


It would be a great idea to get something like this into the public school system with an unhappy ending where the children lose all of their i-gadgets to the bankers...

Mon, 06/24/2013 - 18:00 | 3688806 TruthInSunshine
TruthInSunshine's picture

How timely -

From fantastic OP/ED in, of all places, the New York Times:

The Federal Reserve’s Framers Would Be Shocked

  • Published: June 22, 2013

ONE hundred years ago today, President Woodrow Wilson went before Congress and demanded that it “act now” to create the Federal Reserve System. His proposal set off a fierce debate. One of the plan’s most strident critics, Representative Charles A. Lindbergh Sr., the father of the aviator, predicted that the Federal Reserve Act would establish “the most gigantic trust on earth,” and that the Fed would become an economic dictator or, as he put it, an “invisible government by the money power.”

Had the congressman witnessed Ben S. Bernanke’s news conference last week, he surely would have felt vindicated. Investors, traders and ordinary citizens listened with rapt attention as Mr. Bernanke, the Fed chairman, spoke of his timetable for scaling down stimulative bond purchases. “If things are worse, we will do more,” he said of the nation’s economy. “If things are better, we will do less.”

In 1913, few of the framers of the Fed anticipated that the institution would do anything of the sort. The preamble to the act specified three purposes: to furnish “an elastic currency,” to provide a market for commercial paper so that banks would have more liquidity, and to improve supervision of banks. Regulating the economy was not among them.

The framers saw that the banking system needed reform, but they were sorely divided about how to go about it. Wall Street wanted a strong central bank — preferably under private control. Populists like William Jennings Bryan, Wilson’s secretary of state, insisted that banks answer to the public. But many people from the farm belt, like Lindbergh, were opposed to any powerful financial agency.

The backdrop to the legislation was that the United States, in the late 19th century, suffered frequent financial panics. In 1907, banks ran out of cash and the panic snowballed into a depression. The nation had no central reserve — no agency that, in a crisis, could allocate credit where needed. All it had was J.P. Morgan Sr., who arranged for a private loan syndicate. That was not enough, and, anyway, in the spring of 1913 Morgan died. Leading financiers, like Paul Warburg, a German immigrant who wanted to replicate the Reichsbank in his adopted home, thought the United States needed some coordinating agency. They thought that the system was too decentralized.

Many ordinary Americans disagreed. They thought banking was too centralized already, and that credit shortages were the fault of uncompetitive practices on Wall Street. Over the winter of 1912-13, Congress staged sensational hearings to unmask the “money trust” — a supposed conspiracy among the biggest banks. The hearings did not uncover evidence tying credit shortages to collusive behavior. They did establish that Wall Street tycoons were overly clubby with one another — especially in the distribution of securities — and not exactly beacons of free competition.

The Democrats, who won control of Congress in 1912, promised in their platform to free the country “from control or domination by what is known as the money trust.” What’s more, they specifically opposed the creation of a “central bank,” which the delegates saw as a stalking horse for the money trust.

THUS, supporters of the Federal Reserve legislation faced a delicate problem: how to fashion a centralizing agency and not run afoul of the strong popular sentiment against centralization.

Representative Carter Glass of Virginia, the chief sponsor of the Federal Reserve Act, embodied this dichotomy. Before 1913, his claim to fame was helping to draft a state constitution that had disenfranchised African-Americans. He was an ardent champion of states’ rights. Like most Southern Democrats, he wanted to restrain federal authority — in banking as well as in race relations. Laissez-faire Democrats since Jefferson and Jackson had opposed central banks, and Glass embraced that tradition. But he recognized a need for banking reform, and wanted a more elastic currency to avert money panics and moderate depressions.

His solution was to propose privately owned regional reserve banks that would be new centers of banking strength, away from Wall Street. Wilson horrified him by insisting that a Reserve Board sit atop the individual banks. To Glass, this federalist design looked too much like a central bank.

Then Wilson horrified Wall Street by insisting that Reserve Board members be named by the president, rather than by banks. “History and experience unmistakably show that governments are not good bankers,” hissed The New York Times, which typically toed the Wall Street line. The Washington Post accused Wilson of engineering “a colossal political machine.”

Facing Congress on June 23, Wilson touched a popular chord when he said banks should be “the instruments, not the masters, of business.” But he also said that “our banking laws must mobilize reserves.” This had been Warburg’s main goal — to pool banking reserves so they could be tapped as needed.

Historians still debate what the Fed’s framers intended because many details were left vague, and the Fed evolved over time. When the act was signed, in December 1913, few anticipated that the Federal Reserve Board would become so central to the economy, though it did have authority over interest rates. And Glass pledged that the new agency would be restrained by the requirements of the gold standard — which the nation eventually abandoned.

The current Fed would dismay the framers. Glass would be shocked at the power of Mr. Bernanke. Warburg might applaud the Fed’s efforts to temper a recession, while frowning on its printing of “fiat money.”

For some of the same reasons, “end the Fed” is a rallying cry among Tea Partyers, and among critics with a fondness for the gold standard. Representative Kevin Brady, a Texas Republican who is chairman of the Joint Economic Committee, has marked the Fed’s centennial by calling for a commission “to examine the United States monetary policy” and “evaluate alternative monetary regimes.”

The trenchant question is whether nostalgia for “originalism” is a useful guide to policy. Wilson knew well that the Second Bank of the United States — a 19th-century precursor to the Fed — had been left to die, at the insistence of President Andrew Jackson. But Wilson was trying to govern for the present, not to placate his party’s ghosts. Congress today should receive reform proposals in the same spirit.


*Roger Lowenstein is writing a history of the Federal Reserve.

A version of this article appeared in print on June 23, 2013, on page BU4 of the New York edition with the headline: The Fed’s Framers Would Be Shocked.
Mon, 06/24/2013 - 18:04 | 3688824 BoNeSxxx
BoNeSxxx's picture

I disagree vehemently with the statement that the Fed framers would be shocked by today's Fed... It became exactly what they wanted it to be.  Colonel House made no bones (ahem) about it.

Mon, 06/24/2013 - 18:39 | 3688926 SafelyGraze
SafelyGraze's picture

the article somehow manages to avoid even considering the question of what constitutes money, how fractional reserves operate as probabilistic fraud (X promises to pay Y, but figures there is only a 10% chance that Y will actually take delivery).

the language on the "notes" 100 years ago was and ordinary sentence, written in plain english

"the united states of america will pay to the bearer on demand X dollars"

the note was not the dollar

use versus mention

thing versus reference

ceci n'est pas une pipe


Mon, 06/24/2013 - 19:09 | 3689026 xtop23
xtop23's picture

We do not need a return to a gold standard. We need competing currencies.

Mon, 06/24/2013 - 21:08 | 3689378 Herd Redirectio...
Herd Redirection Committee's picture

Here's where Uncle Sam loses it (on top of the decoupling from gold):

"The IOUs issued by Uncle Sam had to be paid back with interest."

Why would you issue an IOU and promise to pay interest, as well as principal?  Surely you would know what compounding interest will do to the outstanding loan amount?

Mon, 06/24/2013 - 21:37 | 3689438 BoNeSxxx
BoNeSxxx's picture

You know something doesn't smell right about this article... it is WAAAAAAAY to slanted towards the Fed - making it appear that somehow the Fed was perverted only in recent times.

Makes me wonder if they know the show is almost over and they want to make a case for 'reforming' the Fed or somehow returning it to its once wholesome roots.  What a joke.  Its like saying that curing Paris Hilton's Hep C would turn her back into a virgin.

It is a CANCER.  It has always been a CANCER.  And it will ALWAYS BE A CANCER.

The only reform for the Fed is to pull it out, roots and all, default on all debt owed them and lop off the head of any son-of-a-bitch who complains about it.  In fact, lop of their heads just for good measure.

Mon, 06/24/2013 - 23:11 | 3689780 economics9698
economics9698's picture

Robert McNamara prolonging the Vietnam War for the benefit of his bankers and Freidman got Nixon, the buffoon if there ever was one, to go off gold.

Tue, 06/25/2013 - 00:33 | 3689951 TruthInSunshine
TruthInSunshine's picture

I didn't post that NYT OP/ED because it is any sort of accurate nor deep enough analysis of the reasons for the formation/existence of the Federal Reserve "Bank" (which is the 3rd iteration of the Money Monopolists' favorite tool; just in terms of the United States).

I posted it to show that it's remarkable to see a relatively negative (and relatively massively negative, compared to the ordinary) critique of the Federal Reserve published in a Main Stream Media outlet.

The gist of the critique is that the Federal Reserve has now centralized power on a scale that even many (but maybe not all) of those who supported its creation - in 1910 (with the formal Federal Reserve Act being passed in 1913, enabling the Fed's charter) - could have imagined.

And this is why, I believe, it's being prepared for its latest implosion (which will happen by death in the drowning of the scale and composition of its balance sheet), in order to make way for a far more "conciliatory" and "global" tool of the banking parasites/fiat monopolists.

There will be a new "bank" to replace the Federal Reserve, but it will be far more global in its reach, goals and in the makeup of those who support and fund it, patriotic name that is slapped on it notwithstanding.

Tue, 06/25/2013 - 01:46 | 3690103 fourchan
fourchan's picture

The creature, aka the System has been working perfectly for a century.


Enslave a free people to debt created out of thin air, confiscate all real money

with paper, and legal edicts, capture all assets through boom and bust cycles the system creates.


Yes, things are moving along perfectly. now get back to work John Gault.

Tue, 06/25/2013 - 07:43 | 3690394 BoNeSxxx
BoNeSxxx's picture

LoL TIS... I figured you forgot the /s tag or meant to come back with more color commentary.  Your position on the Fed has been well established (and appreciated) by all.

My other reaction was that your handle and avatar had been usurped by the NSA... good to see you are still you and the POD People haven't gotten to you ;-)

Wed, 06/26/2013 - 06:38 | 3693936 Redhotfill
Redhotfill's picture

I'm all for Fiat if it says "Merica or Uncle Sam somewhere on it rather than Redshield/Warberg/Moses Joo bux conjured from thin air.   Sarc off

Mon, 06/24/2013 - 22:39 | 3689692 xtop23
xtop23's picture

I don't mind the down votes for saying a Gold standard is a bad idea. Perhaps instead of just down voting you might do a little research and see how easily such a thing can be manipulated. Perhaps not as easily as fiat, but it can be manipulated nonetheless.

Yeah that's just what we need....another monopoly currency. 

You should know better.


Mon, 06/24/2013 - 23:25 | 3689812 lasvegaspersona
lasvegaspersona's picture

The world will NEVER tolerate a return to either the classic gold standard or the gold exchange standard. It will welcome gold as a wealth asset vis a vis the Euro.

Mon, 06/24/2013 - 23:46 | 3689848 johngaltfla
johngaltfla's picture

FWIW, IT'S 2345 ET and China is imploding. TOTAL CASH CRISIS NOW:


China is Quietly Creating a Silent Panic in World Markets

Mon, 06/24/2013 - 23:02 | 3689755 e_goldstein
e_goldstein's picture

Damn straight, Skippy!

Mon, 06/24/2013 - 23:30 | 3689818 Kirk2NCC1701
Kirk2NCC1701's picture

Competing currencies, you say? They're already competing: QE. A race to the bottom.

Tue, 06/25/2013 - 02:11 | 3690134 xtop23
xtop23's picture


Mon, 06/24/2013 - 19:10 | 3689030 g'kar
g'kar's picture

"No State Shall Make Anything But Gold Or Silver Coin As  Tender In Payment Of Debt"


The framers knew it.

Mon, 06/24/2013 - 19:28 | 3689081 Fish Gone Bad
Fish Gone Bad's picture

The reason why paper money did not come up was that the English were counterfeiting the colonial currency.  It gives new meaning to "freedom of the press".

Mon, 06/24/2013 - 20:25 | 3689264 FEDbuster
FEDbuster's picture

and now the Bernak is doing the counterfeiting.

Tue, 06/25/2013 - 19:43 | 3692813 Kobe Beef
Kobe Beef's picture

"The City (of London) never sleeps..."

Mon, 06/24/2013 - 20:00 | 3689183 All Risk No Reward
All Risk No Reward's picture

Exactly.  Consider the source, though.  The New York Times is a corporate front for the money power - so they want to spin information that points away from themselves as the murderouse, thieving lying, debt money tyrants that they are...

It's all fraud - and the NYT will never admit it.

Debt Money Tyranny

Nor with the NYT ever admit that the Fed broke the law to blow up this criminal debt bubble - even though it is trivial to prove beyond and all doubt.

Weapons of Mass Debt

Consequences of Fractional Reserve Banking 2) - Poverty - Debt is not a choice

How to be a Crook

The Creature from Jekyll Island - G. Edward Griffin

The Shadows of Power: The Council on Foreign Relations and the American Decline | James Perloff

Renaissance 2.0

Debunking Money

Mon, 06/24/2013 - 23:03 | 3689756 Dingleberry
Dingleberry's picture

Exactly Bone. Qui bono?

Follow the money. It's even more simple than Occam's razor.

Mon, 06/24/2013 - 18:15 | 3688863 pndr4495
pndr4495's picture

Why did the creators of the Federal Reserve System feel the need to be so secretive and deceptive , especially with respect to its name ? There is no substantial connection to the federal government and the stock of the Fed is in private hands , with most of said stock being owned by European banking interests. There is but one purpose of the Fed - to make its owners richer than they are already, period. This ain't no Mud Club or CBGB - we ain't got time for that now.

Mon, 06/24/2013 - 21:31 | 3689476 All Risk No Reward
All Risk No Reward's picture

It is worse than that.

Since money is debt, by definition (only coinage excepted), their "richness" is, by definition, our INEXTINGUISHABEL DEBT!


The Fed is a Trojan Horse with the goal of ENSLAVING you and yours.

Their wealth is our poverty!

Debt Money Tyranny

Nor with the NYT ever admit that the Fed broke the law to blow up this criminal debt bubble - even though it is trivial to prove beyond and all doubt.

Weapons of Mass Debt

Consequences of Fractional Reserve Banking 2) - Poverty - Debt is not a choice

How to be a Crook

Wed, 06/26/2013 - 06:48 | 3693953 Redhotfill
Redhotfill's picture

Heard of a van that is loaded with weapons,
Packed up and ready to go....


High on a hillside, the trucks are loading,
Everything's ready to roll

When do the wanted dead or alive bankster posters come out offering real money for their slimey hides?

Mon, 06/24/2013 - 18:25 | 3688894 blindman
blindman's picture

any nation that gives monopolistic control of "money" printing
over to a private cartel is a nation of ass hats, and
eventually, dung eaters.

Mon, 06/24/2013 - 23:49 | 3689857 Oh regional Indian
Oh regional Indian's picture

The Q, dear BM, is...when the shit hits the fan...

Hu FlungDung?


Mon, 06/24/2013 - 19:56 | 3689172 Diogenes
Diogenes's picture

An elastic currency, is that like a rubber check?

Mon, 06/24/2013 - 23:11 | 3689778 Go Tribe
Go Tribe's picture

Only the Times would have the audacity to refer to the criminal banksters of 1913 as " Founders".

Mon, 06/24/2013 - 17:59 | 3688809 BoNeSxxx
BoNeSxxx's picture

Well at least I have something I can share with the hard of thinking...

Shame really.

Mon, 06/24/2013 - 18:02 | 3688822 knukles
knukles's picture

Good Lord, ZerO....
Are you suggesting that we indoctrinate our children?

Mon, 06/24/2013 - 18:18 | 3688865 BLOTTO
BLOTTO's picture

Yes, imo, the Ponzi Scheme started a long time ago.

This massive ponzie scheme wasnt just created a mere few 100 years ago. North America was just an extension of the OG...not the starting point.

The whole damn planet and its citizens are a part of it -that takes some, ages.


What or who the 'original person(s)' to start it is up for debate and probably a big clue to the meaning of this life...'they' have this whole planet hoodwinked.

Mon, 06/24/2013 - 18:49 | 3688967 EastCoast90
EastCoast90's picture

Banking predates all goverment monatary authority.

Mon, 06/24/2013 - 18:23 | 3688878 ZerOhead
ZerOhead's picture

Actually I was thinking more along the lines of DE-indoctrination with simple education knuckles...

Besides... it is better than my other idea of having the kids in the elite private schools creating travelling banking clubs called the 'Junior Squids' that go into the public school system and take money from the parents to lend back at interest to their own children who are enrolled in the 'Wise Consumers Club' right?

Mon, 06/24/2013 - 21:15 | 3689408 Winston Churchill
Winston Churchill's picture

What have you got against Delaware ?

Anyone would think the bank holding companies were incorporated there.

Oh wait.

Never mind

Tue, 06/25/2013 - 01:50 | 3690111 hamstercheese
hamstercheese's picture

Cream of Delaware soup.

Mon, 06/24/2013 - 19:30 | 3689092 therover
therover's picture

Is the happy ending where the children trade their i-gadgets for guns and kill all the bankers ? 

Mon, 06/24/2013 - 23:34 | 3689826 KickIce
KickIce's picture

Agreed, apathy and ignorance is the glue that holds it together.

Mon, 06/24/2013 - 20:46 | 3689332 razorthin
razorthin's picture

Sadder yet is that the right audience won't read it.

Tue, 06/25/2013 - 00:34 | 3689957 thestarl
thestarl's picture

There are those of us who are aware who are hedged accordingly,those that live in denial and those that are just too fucking stupid to worry about.

Tue, 06/25/2013 - 00:38 | 3689972 Buck Johnson
Buck Johnson's picture

I know, and when this does happen alot of people are going to commit suicide over their lost future and present.  The US will not be the same anymore and it will be a third world.

Mon, 06/24/2013 - 17:43 | 3688763 kliguy38
kliguy38's picture

the ponzi is much larger and much longer than the time period in the story......Sam was cleaned out completely but even more interesting is how many other "cousins" were cleaned out of their gold by the Ponzi masters....hehehehehe......oh make no mistake the gold is in VERY strong hands and there will be no gold for the peasants when the "time" comes.

Mon, 06/24/2013 - 17:53 | 3688787 The Master
The Master's picture

Addendum:  To avoid collapse, Sam plants a pile of dog shit in his own yard and blames it on his neighbor Mamoun's dog.  When Mamoun denies the accusation, Sam goes over to Mamoun's house, beats the shit out of him, and takes all of his oil.

Mon, 06/24/2013 - 18:09 | 3688844 YuropeanImbecille
YuropeanImbecille's picture

i actually Laughed Out Loud :]

Mon, 06/24/2013 - 18:23 | 3688891 tarsubil
tarsubil's picture

LOL. Holy moly. I've never clicked on a green arrow before and see it shoot up by 10.

Mon, 06/24/2013 - 19:15 | 3689043 espirit
espirit's picture

Then you must read slowly...

Not a bad thing actually.

Mon, 06/24/2013 - 21:54 | 3689550 Abi Normal
Abi Normal's picture

Did it for me too went up by 12! Crap, you ought to be a writer!!

Tue, 06/25/2013 - 00:37 | 3689969 thestarl
thestarl's picture


Mon, 06/24/2013 - 18:33 | 3688916 scrappy
scrappy's picture

So true.

That's why we need to get a real hold of our (money) lives...

Many people on this site promote the "gold standard"

How will this be better if most don't have gold?

And the wrong people have most of it?


Answer - Chaos.




Mon, 06/24/2013 - 23:49 | 3689855 KickIce
KickIce's picture

No, the first step would be to make them accountable for their wrongdoings.  Once they've been executed or imprisoned, take your pick, then you establish the gold standard.  But make no mistake a gold standard is essential, bankers like to own it but they don't like to be governed by it.  Outside the establishment of the Fed, the greatest coup was getting the reserve currency off the gold standard.

Mon, 06/24/2013 - 17:49 | 3688780 bjfish
bjfish's picture

"educate ppl about this, while there is still time" ... ha ha ha

Time is almost up on this Ponzi and there is little for the sheep to do now.  But don't worry, they have a few tricks up their sleeves (see Europe) to keep things muddling along a little longer.

Mon, 06/24/2013 - 17:56 | 3688802 johngaltfla
johngaltfla's picture

No shit. People are so focused on "paper" assets they are staring at the end like a deer in the headlights of a Peterbuilt driving at 80 mph.


When it hits them it is nothing but roadkill.


Only one asset is flashing the true warning sign, as usual, and it ain't US Treasuries. Gold is telling everyone to BOHICA!


A Crucial Gold Support area is now Being Tested

Mon, 06/24/2013 - 18:16 | 3688861 CH1
CH1's picture


Mon, 06/24/2013 - 18:53 | 3688979 johngaltfla
johngaltfla's picture

BOHICA is kind.


This is ram it up your ass and pray your spine isn't shattered time.

Mon, 06/24/2013 - 19:14 | 3689041 Help Is Not Coming
Help Is Not Coming's picture

BOHICA = Bend Over Here It Comes Again

Mon, 06/24/2013 - 18:18 | 3688790 SafelyGraze
SafelyGraze's picture

"In case you haven't figured it out, "Uncle Sam" is the United States, the "notes" are U.S. dollars, and "Fred" is the Federal Reserve."


and yet, somehow I *still* haven't figured it out

for example, the check clearing process is still mysterious, inasmuch as it converts debtmoney issued by party-1 into bankingmedium recognied as legal tender by parties 2,3,4,...

Mon, 06/24/2013 - 18:20 | 3688876 freewolf7
freewolf7's picture

The US population is not yet uncomfortable enough to awaken.

Mon, 06/24/2013 - 21:56 | 3689565 Abi Normal
Abi Normal's picture

Soon they will have a fire lit up underneath...and I, for one, don't even want to imagine the outcome!

Mon, 06/24/2013 - 23:16 | 3689794 NoDebt
NoDebt's picture

A few months back the California EBT card system went down for a few HOURS (story was on ZH).  There were already fights at stores in various places throughout the state, people hurt, cops called, etc.  That was hours.  Imagine days.  Or weeks.  Or months.

C'mon, you can do it.  It doesn't require much thought.

Mon, 06/24/2013 - 20:49 | 3689336 Jdog
Jdog's picture

But the story left out that uncle Sam isn't the only that is printing notes, all of his rich friends are printing notes because Fred told all of uncle Sam's friends about this scam! So what now? Uncle Same still has the best notes around town!

Mon, 06/24/2013 - 21:58 | 3689570 Abi Normal
Abi Normal's picture

oh you must mean Fred's cousins?  Jed, Gerd, Red and Chin (well, he is distant)!

Mon, 06/24/2013 - 17:38 | 3688741 Winston Smith 2009
Winston Smith 2009's picture

Watch the excellent "Money as Debt" documentary for the complete story:

Mon, 06/24/2013 - 17:46 | 3688771 Frastric
Frastric's picture

That documentary was a major awakening for me, it made me both realise how we are so fucked and yet how there is a solution to the debt monster (after the collapse of the financial system).

Mon, 06/24/2013 - 18:17 | 3688866 Winston Smith 2009
Winston Smith 2009's picture

"That documentary was a major awakening for me"

Exactly the same here.

Mon, 06/24/2013 - 18:22 | 3688886 Citxmech
Citxmech's picture

For me too.  The realization that the end-game is baked into the cake from the beginning really got me thinking about what a sustainable economic system would look like.

Tue, 06/25/2013 - 01:07 | 3690039 Flagit
Flagit's picture

here are some more....



casino jack and the united states of money

empire of the city - ring of power

monkey blood - sequal to empire

power of the purse

the ascent of money

the money masters

the secret of oz

the money fix

money as debt

money as debt II

Mon, 06/24/2013 - 18:03 | 3688823 The Shootist
The Shootist's picture
'End of the Road' film. Worthwhile, used to be netflix.

Mon, 06/24/2013 - 17:38 | 3688746 Kirk2NCC1701
Kirk2NCC1701's picture

Second biggest Ponzi = Organized Religion, as it keeps the poor from murdering and taking back from the rich.

Mon, 06/24/2013 - 17:41 | 3688757 Fox-Scully
Fox-Scully's picture

I beg to differ-religion is the number one ponzi scheme.

Mon, 06/24/2013 - 17:44 | 3688766 NotApplicable
NotApplicable's picture

Point notwithstanding, I think you two are misconstruing the meaning of the word "ponzi."

Mon, 06/24/2013 - 18:06 | 3688832 knukles
knukles's picture


Mon, 06/24/2013 - 17:54 | 3688792 The_Dude
The_Dude's picture

Yes...fuck those pompous a-holes for trying to tell me to have morals and what is right and wrong...I want to do whatever I want and screw everyone else.

Mon, 06/24/2013 - 18:06 | 3688831 SemperFord
SemperFord's picture

I don't believe in religion because I think it divides people but I also don't need somebody to tell me the difference between right and wrong. Minding my own business = good. Hurting/Killing people directly or indirectly = bad, I don't need somebody to tell me that.

Mon, 06/24/2013 - 19:36 | 3689114 1000 splendid suns
1000 splendid suns's picture

There was no jesus. He's just a metaphor.

Mon, 06/24/2013 - 20:10 | 3689188 Lost Word
Lost Word's picture

The Jews want you to believe that lie, saying Jesus did not exist.

However, you overly simplified the viewpoint that you linked.

The Jesus history is misunderstood and misinterpreted by most ordinary people.

The truth is somewhere in the middle between the extremes.

Mon, 06/24/2013 - 21:22 | 3689446 gwar5
gwar5's picture

Shroud of Turin is actually pretty amazing.


The shroud remains microscopically (pollen, diatoms), and forensically exactly accurate to time and place and manner of death of the Jesus.

There is also the corroborative facial death cloth of Jesus (Sudarium of Oveido) in Spain, little disputed provenance to Jesus, and is an exact match of the face and blood type on the Shroud of Turin.  It was removed before the body was prepared (custom) and not placed in the tomb and thereafter it took it's own path over the centuries to Oveido, Spain.  

More amazingly, the Shroud is the only 2-D image in the entire world known to exist that contains 3-D information, ever.  

Most amazing, it has been concluded (by scientists) that the actual image on the cloth could only have been made by a burst of some kind of radiation (all other causes have been excluded including -- UV exposure from sun, changes from decomposition gases, etc). The only dispute now is type of radiation, and they haven't got a clue since said radiation was somehow able to only selectively carmelize the starches 6 nanometers in depth on the inside of the cloth, leaving the image of Jesus without any distortions whatsoever (bizarre, unheard of). This would require an atomic laser capable of a level of precision accuracy which we do not possess because we just invented atomic lasers 20 years ago. 


[The previous carbon dating that said it was only from the 13th century was debunked in 2005 by the exact same guy who did the original testing when he discovered that his original sample had been from a repaired area due to fire damage and he reexamined it, which is an interesting detective story all in itself.]




Mon, 06/24/2013 - 22:09 | 3689616 Abi Normal
Abi Normal's picture

I have to down you...where do u think u get the sense of right vs wrong?  The Bible.

The body of Christ is the church...not the organized church u see today.  Yes to congregate is good and share faith, but the organized religion IMHO is the bad part.  Pray in your closet, privately, nothing wrong with that, God says it is ok.

Give anonymously, live the golden rule.  as to Jesus, if he was a metaphor how do explain his existence in Roman, Greek and Arab history, a fake he is not.

Mon, 06/24/2013 - 23:36 | 3689830 lasvegaspersona
lasvegaspersona's picture

'morality' is mostly hardwired behavior. It can be Ok to kill outside the group but all groups forbid murder in the group. As for rules about fucking and eating (the seemingly main concerns of most religions) these vary from group to group.

Mon, 06/24/2013 - 18:12 | 3688851 THX 1178
THX 1178's picture

Well, no... fuck those religious shithead for thinking they are moral when they are not, and trying to tell everyone else to follow along. Fuck people who brainwash their children. Most atheists i think you'll find are better than most christians.

Mon, 06/24/2013 - 19:38 | 3689117 TuPhat
TuPhat's picture

You obviuosly don't know any real christians.  There are many who pretend to be christians with good morals but they are not.

Mon, 06/24/2013 - 19:50 | 3689160 oddjob
oddjob's picture

Maybe real Christians should do a little house cleaning.

Mon, 06/24/2013 - 20:08 | 3689211 gwar5
gwar5's picture

It's hard to impeach a president

Mon, 06/24/2013 - 20:05 | 3689201 gwar5
gwar5's picture

Our prisons are full of atheists. Not exactly bursting at the seams with evangelicals. But the Batman Shooter did have a good lawyer so he claimed he was a muslim so he can get halal meals and time for prayer 5 times a day.


You went from religion in general to Christian-bashing specifically, so methinks the MSM Christian-bashing propaganda and stereotyping is working out just loverly. I doubt your hostility resulted from a 2 am home invasion by a gang of gospel singers trying to break your eardrums.

Mon, 06/24/2013 - 21:20 | 3689439 Jam Akin
Jam Akin's picture

One of the best (political) dinners conversations I ever had took place some years ago with a group that included a Christian, a Muslim, and a Jain.  The Muslim didn't drink alcohol and the Jain wasn't eating meat but aside from those personal/dietary differences we found we had quite a lot of common philosophical ground around sensible, conservative approaches to life and living.


Point being there are good and bad eggs in all groups of people.  Its that human nature running off the rails that is the root cause of the problems...

Mon, 06/24/2013 - 21:55 | 3689556 gwar5
gwar5's picture

I agree, takes all kinds to make a world or it would be boring. Many would be surprised to know the big religions share common roots. Others insist on confusing 'religion', the man made construct, and God. They are two different things.


Squabbles about religion are tedious but exploring extradimensional physics and quantum mechanics regarding the fundamental nature of our reality can be  spectacularly fascinating and revealing. So far, God is winning by a landslide. 

Mon, 06/24/2013 - 22:15 | 3689628 Abi Normal
Abi Normal's picture

I am no better than u, and as a Christian, will never judge u.  I pray to God, as I believe in Him thru Christ Jesus.  I would never down you for your non-belief, it is your life to live.  But Jesus did die for us all, for our sins, believe in Jesus and you will be saved.  Do you follow mans law?  Do you stop at a red light, why?  If you do, then you are capable of believing in Christ...just stop at the next red light and think about it.

Tue, 06/25/2013 - 00:11 | 3689902 THX 1178
THX 1178's picture

Where is the proof that Jesus existed and that the Bible is accurate and/or the literal word of God? I follow some of Man's laws and not others, but it has nothing to do with whether or not the laws are written-- if i follow a law it is incidental, If i break a law it is incidental. I do not follow or break laws on purpose. I stop for a red light and sometimes I wait until it turns green and sometimes I don't. If it is late at night and in the middle of nowhere and there is no one around, I will glady and SAFELY run it. It is my opinion that this is not morally reprehensible. However, the real resaon I stop at red lights is that I do not have faith in God or Jesus-- I dont believe that some magic force will guide me through the crosstraffic magically every time. I stop for the simple reason of self preservation. And the reluctance to harm others. It is my responsibilty to choose how to act and I choose to act this way. I am capable of beliving in Christ, but I choose not to. Just think about it.

Tue, 06/25/2013 - 00:36 | 3689964 johansen
johansen's picture

Take it a step further and when the full realization that we are eternal spirits bound within this body is realized.. you find that there is something horribly wrong.

when we can understand this, we have to take a step beyond these religions and belief structures and challenge the very basis for who whe are and why are we here.

then, when we realize that we can't achieve perfection without external help.. then the "law" spoken of in the bible as "bringing death" and the "knowlege of sin" and we need something else.

such as a full on pardon. but if we have faith that we're pardoned on faith, what of the rest of the scripture.

so all i can offer.. if something is bothering you.. you must investigate it.

Tue, 06/25/2013 - 01:24 | 3689838 mjorden
mjorden's picture


Mon, 06/24/2013 - 17:38 | 3688747 Herd Redirectio...
Herd Redirection Committee's picture

USD, the worlds biggest bubble.

Mon, 06/24/2013 - 17:41 | 3688752 Frastric
Frastric's picture

This potential disaster can't be stopped now, but if more people know what is coming then perhaps they can prepare for a radically different standard of living.

Mon, 06/24/2013 - 17:42 | 3688756 chdwlch1
chdwlch1's picture

Fuck you Fred!

Mon, 06/24/2013 - 17:43 | 3688759 The Shootist
The Shootist's picture

Ignorance and lack of sense in the 'Information Age.' 'Murica leading the way.

Mon, 06/24/2013 - 17:46 | 3688774 NotApplicable
NotApplicable's picture

I think you mean the "Disinformation Age."

As always, it's about signal to noise.

Mon, 06/24/2013 - 22:06 | 3689611 Totentänzerlied
Totentänzerlied's picture

Matter of opinion. There's plenty of signal out there that happens to be pure horseshit, it is, nonetheless, signal.

Mon, 06/24/2013 - 17:43 | 3688760 Midasking
Midasking's picture

Must cap rates and do whatever it takes or ponzi collapses.. rates can't rise or US gov goes out of biz.. all the wars would stop, social spending... everthing. this way he doesn't have to give a dollar figure either like 85 billion...of course this is inflationary followed by price controls and capital controls.. followed by a 99% windfall profit tax on the gold investors causing the whole mess in the first place and not being patriotic.

Mon, 06/24/2013 - 17:44 | 3688767 DoChenRollingBearing
DoChenRollingBearing's picture

All so sadly true.

Nick Barisheff just wrote a great book on gold.

"Nick Barisheff's New Book: $10,000 Gold":

Mon, 06/24/2013 - 18:39 | 3688900 Joe Sixpack
Joe Sixpack's picture

Be sure to get Sara Lee's new book, also:


"Sarah Lee's New Book: $20 Per Loaf Bread".

Mon, 06/24/2013 - 17:49 | 3688783 SaulRosenberg
SaulRosenberg's picture

Your story forgot to mention that Sam has alot of mean nasty friends, neighbors, acquaintances, co-workers and relatives who would gladly KILL, DESTROY and/or DECEIVE those who don't go along with the scheme.....thus perpetuating the scheme as long as Sam wants.

Mon, 06/24/2013 - 17:56 | 3688798 The Shootist
The Shootist's picture

The police state's never been stronger. The line between military and stasi crossed, with the Rubicon in the rear view mirror. Totalitarian turn-key.

Mon, 06/24/2013 - 18:18 | 3688873 CH1
CH1's picture

And as long as everyone obeys them, the abuse will continue.

But if even a third of the people stop obeying, Sam and Fred will die fast.

Mon, 06/24/2013 - 19:43 | 3689140 noless
noless's picture

Marked dhs vehicles were used during occupy in Portland, now they just ride unmarked, you can generally tell by their formations and timing though.

Civilian plates, non obvious makes/models.

Sorry guys, but this shit is real.

Federal paramilitary forces routinely policing the streets of America.

And from the article, no, dhs is not responding to a heart attack, let your imagination run wild, but trust me, you don't want to walk up in that bitch.

Mon, 06/24/2013 - 20:01 | 3689184 Diogenes
Diogenes's picture

Sam also has a lot of friends who wish him well and would like to help him if his government officials would stop acting like a bunch of douchenozzles.

Mon, 06/24/2013 - 17:50 | 3688784 SaulRosenberg
SaulRosenberg's picture

Did I mention "gladly" do it?

Mon, 06/24/2013 - 17:54 | 3688791 Hedgetard55
Hedgetard55's picture

Fuck Bernanke.


Fuck Barry Pakalolo.


Fuck Bruce Krasting, the arrogant fucking prick.

Mon, 06/24/2013 - 18:18 | 3688872 ebworthen
ebworthen's picture

Context:  Bruce wrote an article today saying he has no sympathy for people who put savings into TIPS or fixed instruments.


Mon, 06/24/2013 - 18:42 | 3688939 Hedgetard55
Hedgetard55's picture

He also has no sympathy for the little brown illegals he hired to cut his grass and do his fucking laundry either. Bruce is a fucking gigantic hypocrite.

Mon, 06/24/2013 - 22:10 | 3689619 Totentänzerlied
Totentänzerlied's picture

That's called "no sympathy for fools", the adult version of tough love. To be valid, the fools must be capable of changing their beliefs/behavior, otherwise it's just cruelty to the mentally handicapped.

Tue, 06/25/2013 - 00:12 | 3689905 ebworthen
ebworthen's picture

So what?

Money in cash and Gold and Silver, or stocks, or muni-bonds?  (Detroit!).

Bruce offered no alternatives, and a number of those aren't available to regular people trapped in the FED jiggered Casino.

Mon, 06/24/2013 - 18:28 | 3688904 Jendrzejczyk
Jendrzejczyk's picture

Holy crap, haven't heard "pakalolo" since 1981.

You don't find Bruce humble and self-effacing in many of his articles?

Mon, 06/24/2013 - 18:44 | 3688946 Hedgetard55
Hedgetard55's picture

Maybe "choom" would be better for you?


     Yea, Bruce is really humble and self effacing... an awesome dude. 

Mon, 06/24/2013 - 17:55 | 3688796 fonzannoon
fonzannoon's picture

I think these assholes are somwehow planning on raising rates. Not one time since rates shot up have I heard "deficit funding" or "national debt". Not one. They are counting on 5% growth by 2015 as the counterbalance to rising rates.

Shit the U.S just got upgraded by one of the ratings agencies. This has gone full retard.

Mon, 06/24/2013 - 18:36 | 3688890 ebworthen
ebworthen's picture

That was how they raked the chips of the regular folks off the table last time.

Post 9/11 it was "Be patriotic and consume."  Home equity loans and refi's galore, easy money at low rates.  They let that dog run for 4 years at least.

Then bitter prune Greenspan steadily raised rates so that everyone was squeezed more and more on a monthly basis.

Then the whole bubble popped and people lost 10 years of gains, their jobs, their houses, etc. - while the bankers cleaned up, got bailed out, got bonuses, and more free money at the FED backdoor. complete Bubble II...they may just raise rates to fuck everyone over again.

This time it will be sold as "the responsible thing to do" (all of a sudden like).

National debt?  Pensions, IRA's, 401K's converted to "Liberty Bond" annuities.

For our own safety and "for the children" of course.

Mon, 06/24/2013 - 18:47 | 3688957 fonzannoon
fonzannoon's picture

"Then bitter prune Greenspan....

The funny of that overwhelmed a great point. Wow.

Mon, 06/24/2013 - 19:06 | 3689022 lotsoffun
lotsoffun's picture

has nothing to do with the 'fed' jawboing today.  they work for lloyd and jamie - and they got their shorts in place and are ready to sweep the table.

fed governors and workers are second tier.  they have no shame and they have no morals, but if they had smarts - they would be insiders instead of outsiders.

that's all i have to say kids.  parties over and it's not going to be a lot of fun for many of us.  and - they play the record over and over (oops - i'm old, anybody know what a record is?)  bennie did his job, and he's off to happy pastures.

Mon, 06/24/2013 - 21:31 | 3689477 BidnessMan
BidnessMan's picture

Why do so many assume that Shorts will collect? The day is coming when Shorts will default along with all other financial claims.

Mon, 06/24/2013 - 17:56 | 3688804 JJ McApe
JJ McApe's picture

Plain and simple fact!! Wall Street portfolio manager raped there investors from all gain going back into 2012 today!!! Plain and simple facts investors were plainly robbed!! When you go from good to a disaster in a week the markets have clearly been manipulated someway in there favor!!

Mon, 06/24/2013 - 17:56 | 3688805 enloe creek
enloe creek's picture

LOL, share this story and let everyone know about this, ok sure. no one I talk to cares, they just want to know if they can afford to get a new car or a new something cause that is what everyone sees them doing and it makes them feel good to know that everyone sees how good they have it,  now go away and stop bothering the peoples as they go about having it so good you party pooper.

Mon, 06/24/2013 - 18:00 | 3688812 buzzsaw99
buzzsaw99's picture

Once upon a time there was a banking cabal that decided to gang rape uncle sam for 100 years. They are still doing it and Sam's ass is getiing mighty sore.


The End

Mon, 06/24/2013 - 18:08 | 3688840 Al Huxley
Al Huxley's picture

Small correction - 100 years AND COUNTING.  I don't think they put a time limit on it.

Mon, 06/24/2013 - 22:15 | 3689629 Totentänzerlied
Totentänzerlied's picture

Addendum: Sam has one mighty case of Stockholm Syndrome, and has been successfully brainwashed into believing that a) his assailants are actually his allies and b) it can't be any other way. Sam has gone from an average guy to a brutal, sociopathic, manic-depressive, histrionic, codependent, borderline, paranoid, delusional, violent homicidal maniac.

The pragmatic thing to do is consign Sam to the garbage heap of history, post haste. Nothing personal.

Mon, 06/24/2013 - 18:00 | 3688814 vxpatel
vxpatel's picture

I agree with the major premise, except the foundation is incorrect. It wasn't hard work that made uncle sam rich, it was free labor (Slaves) and free natural resources and land taken from the Native Americans.

If you gave me free land, labor and natural resources, I too could become rich. It's not that hard... 

Mon, 06/24/2013 - 18:08 | 3688841 The Shootist
The Shootist's picture

See, you've spent too much time in sociology class. It's not your fault though, you were programmed that way.

Mon, 06/24/2013 - 18:55 | 3688987 scrappy
scrappy's picture

Ah, Sociology,

The study of society.


I learned a bit from this subject.

Power in the Highest Degree: Professionals and the Rise of a New Mandarin Order

The Protestant Ethic and the Spirit of Capitalism

On Symbols and Society






Mon, 06/24/2013 - 21:16 | 3689411 vxpatel
vxpatel's picture

I see you are a 'patriot' whatever that means...more than likely your father ignored you and now you need a state to feel allegiance to. Or, I hope for your sake you are part of the 1% that rules this country, in which case....will you hire me?

Mon, 06/24/2013 - 18:43 | 3688937 Joe Sixpack
Joe Sixpack's picture

You did not build that? Sorry, doesn't fly here. The Native Americans also had the land and the resources. Why wasn't the great civilaization here when the Europeans arrived? And the slaves were not a big part of building the great country. They were primarily in the south producing cotton for the British.

Mon, 06/24/2013 - 19:02 | 3689006 lotsoffun
lotsoffun's picture


Mon, 06/24/2013 - 20:22 | 3689255 Jendrzejczyk
Jendrzejczyk's picture

The men spent all day hunting and fishing while the women raised the children, vegetables and grain. Sounds like the height of civilization to some.



Mon, 06/24/2013 - 21:30 | 3689475 vxpatel
vxpatel's picture

Have you ever studied ancient history of N. America, did you know that N. America has an ancient history, or does your timeline begin on 1776? There are huge highways crisscrossing the southwest, massive pyramid like structures in the midwest and one of the oldest, continously inhabited cities in the world in the South West, but I make me tired...go back to sleep.

Mon, 06/24/2013 - 22:20 | 3689645 Totentänzerlied
Totentänzerlied's picture

It was 2 things. Perfect, and I mean perfect like a pair of perfect tits, PERFECT timing, and a cold and calculating pragmatic opportunism. The end of the British empire, the Industrial Revolution, the Oil Age, 2 world wars, and global communism - the fact that America's meteoric rise temporally coincided with all of these is no coincidence.

It's easy to become rich when the competition has just spent years obliterating itself and you control the world's main energy resource.

Mon, 06/24/2013 - 18:05 | 3688825 Flakmeister
Flakmeister's picture

Did anyone really think that growth could go on forever?

My fuck, the LtG people demonstrated that wheels would start coming off around now over 40 years ago...

Mon, 06/24/2013 - 22:23 | 3689651 Totentänzerlied
Totentänzerlied's picture

Yes, just like the Romans believed Rome would never fall, the Brits believed the sun would never set on them, and Chinese courtiers and intellectuals knew China was the best thing in all creation.

Mon, 06/24/2013 - 18:07 | 3688829 Al Huxley
Al Huxley's picture

Where's the part in the story where Sam starts spying on everybody in the family? 

And where's the part where he sells off the successful businesses to foreigners, who then loan him money (by buying his bonds) until they've developed a viable domestic market at which point they pull the plug? 

And where's the part where all the foreign counterparts of Uncle Sam decide to pull the same little stunt, resulting in a crazy Rube-Goldberg contraption of interdependent, interrelated ponzinomics that manages to run about 100 yards off the edge of the cliff ala Wiley Coyote before looking down, realizing the whole system's fucked, and starting some sort of global conflict (Fred's banker friends' idea) to reset the books?

Mon, 06/24/2013 - 18:39 | 3688928 gatorengineer
gatorengineer's picture

Thats the part where Sam sells his neighbor Yuan the acme exploding Tbills..... Yuan thought he was doing Sam a big favor in buying them but.... Everytime Yuan displeased Sam, Sam blew up some of Yuans Tbills....  Before long Yuan had to use all of Sams Tbills to pay for the damage to his house and pay Mohammad to heat it....  In the end Yuan wasnt very happy.  He should have learned from Yen who had the same thing played on him by Sam 20 years before... Yen is still trying to recover.

Mon, 06/24/2013 - 18:06 | 3688830 itstippy
itstippy's picture

... and so a despondent and broke Uncle Sam went to see Cousin Louie for advice. 

Cousin Louie said, "Sam you dumbass, while you were buying useless foreign crap with phoney dollars I was busy building up the damndest military the World has ever seen.  We'll just turn that fucker loose here and there around the globe and see how much they celebrate 'the downfall of Uncle Sam'."

The story's ending hasn't been written yet.  It's NOT a comedy though.

Mon, 06/24/2013 - 21:26 | 3689463 Jam Akin
Jam Akin's picture

Sounds like Cousin Louie is related to Cousin Vinny.

Mon, 06/24/2013 - 18:07 | 3688836 Duc888
Duc888's picture

Uncle Sham?

Uncle Scam?


The Fed?



US Treasury dept?


The House? the Senate?



Really, what is the biggest scam?

Tough competition.

Do you produce? or do you push paper to further the degredation of this 200+ year experiment.  At the end of the day that's all that matters.

Mon, 06/24/2013 - 18:11 | 3688849 MsCreant
MsCreant's picture

"while there is still time"

For what exactly?

Mon, 06/24/2013 - 19:41 | 3689133 The Navigator
The Navigator's picture

To buy just ONE more stack, just one more.

Mon, 06/24/2013 - 18:15 | 3688859 Crash Overide
Crash Overide's picture

We all know the score here, what the fuck are we doing about it? 

Mon, 06/24/2013 - 18:41 | 3688935 Citxmech
Citxmech's picture

I don't know about everyone else, but I'm planning on laying low until the fireworks are over and then seeing what can be rebuilt out of the smoldering wreckage.

Mon, 06/24/2013 - 19:17 | 3689051 espirit
espirit's picture

How deep underground do you consider low?

Mon, 06/24/2013 - 20:08 | 3689206 Parrotile
Parrotile's picture

You planning on a "multi-generational" lying low programme?

Fall-out and ground contamination has quite a long half-life (depending on the nuclide), and North Korea IS crazy enough to decide that "if THEY are going to go, then they'll take the rest of the World with them - along the lines of a Cobalt / Doomsday weapon.

Apart from the well publicised fact that Israel has made it very clear that they have the same mind-set: "If we go, then so do everyone else"  - the "Samson Option" -, which is why they have no interest in peace, except on their terms only.

Mon, 06/24/2013 - 18:15 | 3688862 Yen Cross
Yen Cross's picture

    Good article. Even a retarded caveman could understand it. (aka liberal)

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