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Martin Armstrong Warns Europeans Of The Coming Expropriation Of 10% Of Everyone's Accounts

Tyler Durden's picture




 

As we have discussed in depth previously (2 years ago here as "muddle through has failed" and most recently here as the IMF discussed a "one-off" wealth tax), a confiscation (akin to Cyprus overnight debacle) is coming and Martin Armstrong believes sooner than most think.

Submitted by Martin Armstrong via Armstrong Economics,

Anyone who thinks it is a fantasy that government will simply just confiscate 10% of everyone’s accounts in Europe better have another look at the fool they see in the mirror staring back at them. This IMF solution is traditionally French and is really coming because the people in charge are effectively Marxists and this idea came from the IMF under the control of French ideology. They will expropriate these funds to save a banking system that they screwed up and will never reform anything because they are incapable of admitting any mistake.

These European government officials really are playing a dangerous game that is inviting total chaos, civil unrest, and may set themselves up for invasion. Instead of Napoleon invading Russia (1812.479), it may be the other way around when they smell weakness.

Lagarde Christine imf

Let me make this very clear. I have many French friends and they know the people in charge are just Marxists. Adam Smith wrote Wealth of Nations because he visited France to investigate Physiocracy that argued agriculture was the only real wealth. Karl Marx did not come up with Communism himself. He was more of a socialist. He did not advocate confiscating all property. It was the French movement of a commune at the time that convinced him their way was better. It was Engels who steered Marx into Communism. These ideas have emerged from France and this is why we have some of the most insane ideas still emerging from this country. There is a core philosophy among some that this socialism is correct.

The IMF proposal to expropriate everyone’s accounts in Europe will happen. The consequences could be absolutely the collapse in confidence that will be off the charts. Why should people trust government ever again or any bank for that matter?

Hollande-3

My advice to Europe – move as much as you can... - Hollande will come up with that one you can bet. He will weaken Europe and destroy the future of generations yet to come.

When they took the funds in Cyprus, the EU did not distinguish between European, American, or Russian accounts.

 

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Thu, 01/02/2014 - 13:05 | 4293464 Ostapuk Ivano
Ostapuk Ivano's picture

Martin Armstrong is the man.

Thu, 01/02/2014 - 13:07 | 4293481 Divided States ...
Divided States of America's picture

havent heard from him in a long time....is he still in a darkened slammer somewhere on a desolute island???

Thu, 01/02/2014 - 13:17 | 4293526 FieldingMellish
FieldingMellish's picture

He has been released. He is now a useful tool.

Thu, 01/02/2014 - 13:29 | 4293574 jaap
jaap's picture

Yes, from pro gold/silver in jail to anti as a free man.

Thu, 01/02/2014 - 13:54 | 4293669 0b1knob
0b1knob's picture

They will take 10%?

I think he's confused.   The 10% is the amount they will allow you to KEEP.

Thu, 01/02/2014 - 14:05 | 4293705 malikai
malikai's picture

They are Marxists?

Seriously, do you actually believe that Mr. Armstrong?

Thu, 01/02/2014 - 14:21 | 4293723 Soul Glow
Soul Glow's picture

 

Here is the report, titled "Taxing Times", by the IMF.  The paragraph being referred to concerning "A One Off Capital Levy" is on page 49.

Taxing Times:

http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf

 

Thu, 01/02/2014 - 14:56 | 4293884 BillyTheBlade
BillyTheBlade's picture

Thank you for linking this.  The writing is on thw wall in their own words.  This combined with the FDIC/BOE white paper really makes their intentions clear to me. 

Thu, 01/02/2014 - 15:04 | 4293893 Soul Glow
Soul Glow's picture

LaGarde is disgusting and what she is about to do will make almost everyone forget about Bernanke.  Almost everyone except us.

Luckily we have gold and silver and history is written by the victors.

Thu, 01/02/2014 - 15:11 | 4293918 SilverIsKing
SilverIsKing's picture

People argue about whether one is a Marxist, Fascist, Socialist, or Communist. Can we just group them all together and call them Fucksists or "Fuxists?"

"Fuxism" is a form of government whereby the masses get fucked by their government.

Thu, 01/02/2014 - 15:24 | 4293955 Motorhead
Motorhead's picture

And then there are those wankers on King World News who can only say buy gold and cry "conspiracy" whenever gold goes down.

Thu, 01/02/2014 - 15:37 | 4293999 Soul Glow
Soul Glow's picture

You do understand that JPM trades options in excess of hundreds of millions of dollars per day?  And you do understand they can come out and leverage against gld and drop the paper price very easily, yes?  Do you understand how to trade?  Have you ever worked in finance? 

Thu, 01/02/2014 - 16:29 | 4294171 Occident Mortal
Occident Mortal's picture

For 90% of the worlds population their annual income is greater than their net worth.

As this table shows...

http://econintersect.com/wordpress/wp-content/uploads/2013/07/z-temp3.png

The median net worth of Americans is just $38,000. Typical Americans have high incomes and no assets.

Very few people understand that there are two kinds of rich people.

a). People with high incomes.
b). People with high assets.

The two are not the same. b's are much rarer than a's and b's are usually heirs.

Thu, 01/02/2014 - 16:53 | 4294253 SWRichmond
SWRichmond's picture

Adam Smith wrote Wealth of Nations because he visited France to investigate Physiocracy that argued agriculture was the only real wealth. Karl Marx did not come up with Communism himself. He was more of a socialist. He did not advocate confiscating all property. It was the French movement of a commune at the time that convinced him their way was better. It was Engels who steered Marx into Communism. These ideas have emerged from France and this is why we have some of the most insane ideas still emerging from this country. There is a core philosophy among some that this socialism is correct.

And Simone DeBeauvoir, along with her concubine Sartre, was...French.

I rest my motherfucking case.

Thu, 01/02/2014 - 20:53 | 4295010 philipat
philipat's picture

Just, again, to point out the stunning hypocrisy involved. IMF staffers are exempt from tax on income and the raft of benefits that come with the position. So why should they worry about 75% top rates of income tax or other expropriations of wealth. Let them eat.....shit

Thu, 01/02/2014 - 21:48 | 4295196 PT
PT's picture

... and expropriating 10% of people's "savings" will feed the beast for how long?  2 days?  Then the beast will be hungry again.

Thu, 01/02/2014 - 15:47 | 4294042 superflex
superflex's picture

Lemmy is a stacker.

Thu, 01/02/2014 - 15:54 | 4294071 wintermute
wintermute's picture

Bail-in theats? Bitcoin user not affected!

http://www.kitco.com/finance/bitcoin/

 

Thu, 01/02/2014 - 16:24 | 4294156 CheapBastard
CheapBastard's picture

Donate to your local banker in 2014. Be Generous; open your heart. He needs a new Yacht and a BMW suv for the mistress.

Thu, 01/02/2014 - 21:09 | 4295054 Soul Glow
Soul Glow's picture

Donate to Zero Hedge in 2014. Be Generous; open your heart.  Tyler needs to keep this party going....and also needs to take out his mistress Marla ;)

 

http://www.zerohedge.com/donate

Fri, 01/03/2014 - 03:47 | 4295859 TheReplacement
TheReplacement's picture

Local bankers are not the problem, those that still exist.  Mostly they have been driven out of business by the big bankers who do actually own yachts but I doubt they stoop so low as to buy a beemer for toots.

Thu, 01/02/2014 - 15:25 | 4293965 nope-1004
nope-1004's picture

France.... lol.... the only ethnicity that considers stealing a relevant, full time job.

Thu, 01/02/2014 - 15:36 | 4294006 TerminalDebt
TerminalDebt's picture

If it's only France that would mean half of Nigerians are unemployed.

Thu, 01/02/2014 - 15:54 | 4294062 Oldwood
Oldwood's picture

When there is no income to tax, tax the wealth that remains. What about redistribution do people not understand? Ultimately it all belongs to those who printed it and is only currently on loan (with interest) till the interest returns become too low and they take it back.

Thu, 01/02/2014 - 15:55 | 4294079 Hobbleknee
Hobbleknee's picture

All governments practice Fuxism.

Thu, 01/02/2014 - 15:57 | 4294086 El Cuervo
El Cuervo's picture

They are all grouped together. They're called collectivists. They usually begin from a rather benign tumor and grow into one of the "ists" you mentioned.

Thu, 01/02/2014 - 16:26 | 4294165 CheapBastard
CheapBastard's picture

If you don't hold it, hide it and defend it, they will take it.

Thu, 01/02/2014 - 16:50 | 4294233 Freewheelin Franklin
Freewheelin Franklin's picture

I believe the proper term is "Statist". 

Thu, 01/02/2014 - 22:02 | 4295241 margaris
margaris's picture

Bingo!

"Statism", the word none of us was taught in school,...

You are not allowed to know "the nature of the game"...

you are only allowed to be a stupid slave.

Thu, 01/02/2014 - 20:32 | 4294951 CH1
CH1's picture

Can we just group them all together and call them Fucksists or "Fuxists?"

We should probably just call them all "statists."

States are groups of men claiming the right to take everyone's money by force, to punish who they wish, and to order young people off to war.

So long as such groups exist, the slavery and death will continue, regardless of what names we apply to them.

Thu, 01/02/2014 - 19:40 | 4294789 discopimp
discopimp's picture

Also don't forget Lagarde doesn't care as she pay NO income tax on her income for "working" for the IMF!

Thu, 01/02/2014 - 15:54 | 4294061 saveandsound
saveandsound's picture

thx!

Thu, 01/02/2014 - 17:44 | 4294441 fockewulf190
fockewulf190's picture

Merkle is never goiing to accept a one time wealth tax.  There is a huge problem in Germany called "alters armut" or "retired poor" which exists now as a result of wages being kept down for over a decade.  Many millions of full-time workers only earn between €1000-€1500 per month, and as a result, their contributions into their social security accounts will result in them only receiving a pension between €400-€500 per month.  Because of this, the government has been telling the workers for years to build up a secondary nest egg to supplement their retirement.  The vast majority of Germans shun the stock market because of being badly burned in the past, so many save their money at the local bank.  Any attempt to "Cyprus" money, especially when the cost of living is already sky-high, will not fly for a second.  The theft, therefore, will have to be more suttle, and the most common way to do that is an increase in sales taxes, capital gains taxes and higher taxes on estates. 

Thu, 01/02/2014 - 20:30 | 4294958 CH1
CH1's picture

Hope you're right, but the last time the German people rebelled against a state was?

Thu, 01/02/2014 - 20:58 | 4295028 RSDallas
RSDallas's picture

I would suggest that the EU will create a false flag (this will probably occur when China collapses) for the entire region and claim that there is no other solution other than total destruction of the entire EU.  Then on to the good old USA.

Thu, 01/02/2014 - 21:03 | 4295049 akak
akak's picture

No problem --- "Arbeit macht (debt) frei".

Sat, 01/04/2014 - 05:56 | 4299302 slvrizgold
slvrizgold's picture

There's an even more subtle way my friend, it's called monetary inflation!   The deflationists will eat crow because even though velocity is slow (for now anyway) and credit is being withheld and destroyed, the new money will always "leak out" and look for a home.   Right now that is equities.   Going to bonds will be like jumping from the frying pan into the fire.  Being in cash may seem good until you look back an notice everything fawking costs 50% more than it did a few years ago.   Not to mention the "bail-in" risk as outlined in the IMF memos.  Much better to just load up on gold and silver near or even below their production costs.   It doesn't get much cheaper than that.   People need to understand that back when gold was $300-500 in the 80s and 90s they could mine it for a small profit.  Today, not even possible for most mines at $1000.   The deflationists are operating on a false assumption that we are still on a gold standard, and we can "get something for nothing" (steady stream of real goods in exchange for perpetual scrip.)   Some people believe there really is such a thing as a free lunch.  Wealth is only made from making things or growing things or otherwise providing things that people want in exchange for something of value.   Well, that's the problem.  The last part of the sentence.  

Prices are going to rise for consumers.  The inflation is going to reduce disposable income for the majority of economic participants.  Merchants will have to raise prices just to make up for the lost sales.  The US dollar won't be collapsing against the Euro or Yen or most of the other currencies necessarily, but rather all of them slipping away a little each month and year.   Enjoy!   When no one wants to loan money to deadbeat govts anymore the only way they can maintain their "standard of living" is to PRINT and PRINT SOME MORE.   Anybody wanna buy this here 10 Y T?  It yields a whopping 3%.  That's not going to keep up with your 22% hike in insurance premiums and the higher deductible is not going to help either.  

But there is no inflation anywhere.   Nothing to see here.  Move along.   Do not buy stacks of precious metals.  Especially not silver for a ridiculous $20.   Remain calm.   Keep your $250,000 maximum in FDIC and cross your fingers there won't be a bail in...  This year...  LOL   (sarc off)

Fri, 01/03/2014 - 04:42 | 4295884 tradewithdave
tradewithdave's picture

Technically, it's referred to as "the Britney Spears one-time tax " .... oops I did it again.

Thu, 01/02/2014 - 14:06 | 4293708 SeanJKerrigan
SeanJKerrigan's picture

Calling these elites Marxists goes against everything I understand about how power, money, and the banks intertwine. It seems apparent to me these elites at the IMF and elsewhere are pragmatists working in support of what they percieve to be their own interest. The author really needs to define what it means to be a Marxist if he is going to use the term - not simply assume we agree with such broad statements.

Thu, 01/02/2014 - 15:19 | 4293949 MachoMan
MachoMan's picture

pragmatists working in support of what they percieve to be their own interest.

This is all that exists...  it's a vestige of our evolution...  we try and create all of these isms to describe how self interest plays out in the aggregate, but they're never accurate in the moment (late diagnosis) and they're ultimately meaningless because they presume that the regulatory structure is what controls human action.  If you're busy chasing an incorrect label of the economy (and conditioned to dislike certain labels), then you're probably missing the individuals pulling the strings...

Thu, 01/02/2014 - 15:23 | 4293961 Central Bankster
Central Bankster's picture

I cannot go as far as to say I am a believer in his work (the jury is out in my opinion), but he does do an excellent job of explaining his thinking and linking it to historical contexts.  So, if you read one article and determine that he doesn't explain what he means by "marxism" it really falls upon you to read his other material for context.  So I must disagree with your comment because it seems like you've jumped to some unfair conclusions.

Thu, 01/02/2014 - 16:06 | 4294076 Lore
Lore's picture

FABIAN Socialism is essentially organized crime rationalized on a grand scale as being "for the good of all." 

"Instead of revolution, the Fabians favoured "gradualism" as the way to bring about socialism. Their notion of socialism...entailed social control of property through an effectively and impartially [hahahahaha] administered state—a government of enlightened experts." 

Broadly speaking, this the same arcane bunch of elitist snake oil salesmen that cooked up Green Agenda 21 and has been pushing for Carbon Tax (enviro-protectionism).  "Global Warming" is environmental Al Qaeda, instrumental for pushing through Fabian Socialist Globalist policy "To Save The [Their] World."

Basically, they're crooks who think big and tell big lies.

Thu, 01/02/2014 - 21:17 | 4295087 Chupacabra-322
Chupacabra-322's picture

The moment The American People stop CONSENTING / Contracting with the Criminal Fraud that is THE UNITED STATES, CORP. The sooner we can begin to defund the Criminal Entities of the Alphabet soup agencies.

Stop funding your own Debt Bondage & Enslavlement.

Pack a Gun & Pay NO TAX. Peaceful Non-Compliance,Non-Participation.

Thu, 01/02/2014 - 14:11 | 4293710 Soul Glow
Soul Glow's picture

We can see the trend reversing in stocks and gold now.

Thu, 01/02/2014 - 14:10 | 4293737 zaphod
zaphod's picture

No it will be 10%.

The big problem is just as with QE1, it will not be 1 time 10% grab. It will become a regular event leading to 10% every year.

Taking any percentage does not fix the underlying structural problems, and in fact makes it worse because nothing has to change. When the confiscations become regular that is when the real SHTF.

BTW, they can not take 10% of my PMs or Bitcoins. The real value of both will rise quite a bit when this starts.

Thu, 01/02/2014 - 14:26 | 4293782 SeanJKerrigan
SeanJKerrigan's picture

Regular confiscation will only work well with a fully digital currency -- and despite Larry Summers best wishes, they still have a few years to go on implementing this. Count your blessings while you have them I suppose.

As for Bitcoins and PMs, they're an option, but careful about putting all your eggs in one basket. Caution should be the word of the decade.

Thu, 01/02/2014 - 14:34 | 4293803 SeanJKerrigan
SeanJKerrigan's picture

You can also expect the price of Gold and Silver to get hit in a planned way should they decide to begin seizing assets Cyprus style.

Thu, 01/02/2014 - 14:53 | 4293863 Stuck on Zero
Stuck on Zero's picture

Yep.  There will be an official gold price and there will be the black market price.  Everyone will be come a criminal.

 

Thu, 01/02/2014 - 15:34 | 4293988 Soul Glow
Soul Glow's picture

Gold will be used to measure all currencies when the dollar fails.  People have the power, not the governments.

Thu, 01/02/2014 - 16:43 | 4294189 layman_please
layman_please's picture

"You can also expect the price of Gold and Silver to get hit in a planned way should they decide to begin seizing assets Cyprus style."

there will be coordinated effort, no doubt, just like after bail-ins in cyprus there were following news: "The International Monetary Fund and the European Commission stipulated that Cyprus should sell its gold reserves at the time of the bailout." ... There was much unfounded speculation that news of the potential sale helped drive the biggest fall in gold prices ever last April. However Cypriot gold reserves are minuscule at just 13.9 tonnes."

http://www.zerohedge.com/contributed/2013-07-17/cyprus-resists-international-pressure-sell-gold-reserves

can the theft be even more blatant? talk about adding insult to the injury

Thu, 01/02/2014 - 14:30 | 4293786 cynicalskeptic
cynicalskeptic's picture

IF it is only 10% and IF it is a one time occurrence, everyone is getting off easy (and frankly, some of the plutocrats should be assessed 10% at a MINIMUM - God knows they've avoided taxes and benefitted from thier government connections enough).  

BUT odds are you're right and it will become a regular and INCREASING expropriation

Thu, 01/02/2014 - 14:52 | 4293859 Soul Glow
Soul Glow's picture

We need to freeze the Major Banking Houses assets, move them to the Fed, Nationalize the Fed, then move the assets and liabilities to the Treasury, then abolish the Fed.

Thu, 01/02/2014 - 15:51 | 4294046 N2OJoe
N2OJoe's picture

Remember how Cyprus started at like 20% and ended up somewhere around 60%.

Thu, 01/02/2014 - 16:13 | 4294126 Soul Glow
Soul Glow's picture

Cyprus was a flat confiscation of all cash over $50k.

Thu, 01/02/2014 - 14:56 | 4293882 knightowl77
knightowl77's picture

I seriously doubt that BHO has the authority to seize (tax) 10% of anyone's savings account. Such a tax, would have to be legislated, and as such, must start in the House of Reps....That ain't gonna happen this year. Mebbe if the Dems take back the House in November then it would be granted swiftly in 2015...but not before that.....

Thu, 01/02/2014 - 15:17 | 4293919 zaphod
zaphod's picture

They don't, the US needs a constitutional amendment to allow base asset valuation to be taxed in addition to income.

But this will happen when SHTF. Just as with the income tax it will be sold to the people as a tax on the 1% to gain support, but then quickly trickle down to the middle class.

It was the exact same thing with the income tax. It was sold to people in KY and TN as a way to tax only the rich northerns in NY/CT/MA, but it took only ~10 years to expand it. People forget but originally putting a "10% cap" was discussed on the income tax amendment, but finally rejected because people worried that adding 10% language would encourage the tax to go up that high, and no one at the time could imagine taxes at 10%. So our brilliant ancessors decided to leave no cap with the expectation that the income tax would stay around 1-2%.

Thu, 01/02/2014 - 15:56 | 4294059 N2OJoe
N2OJoe's picture

Really? You want them to tax the "value" of your assets (Like the way they "value my house at twice is mkt value)?

Then they get to inflate the currency and tax you even more on the same asset?

That's exactly what we should do. Rent EVERYTHING from .gov just like our houses. F private property rights, let .gov own EVERYTHING.

Maybe we should try a low Flat Tax or Fair Tax and just do away with the political loopholes instead.

Thu, 01/02/2014 - 16:40 | 4294206 zaphod
zaphod's picture

No one wants this, but it is important to open your eyes and see what is coming. And it is coming.

The average american has no idea how to handle real adversity. When the SHTF they will gladly vote for new amendments to tax rich people, not understanding that in a decade they themselves (and their grandchildren) will be subject to the same tax.

Thu, 01/02/2014 - 17:05 | 4294283 zaphod42
zaphod42's picture

Or that the 1% will still have control of Congress and will write themselves loopholes so most of the tax falls on the middle class.  It is the way it works.

And what do you mean, "When the SHTF?"  What is all that brown stuff in the air?

Thu, 01/02/2014 - 17:48 | 4294457 zaphod
zaphod's picture

To me the SHTF will be when the FED loses control and we have a real currency crisis.

Modern America is 100% dependent on the reserve currency status of the dollar, this allows the US gov to acquire money for free, both through printing and debt expansion. When this stops (and it will) the US will not be able to afford the bloated government we have nor the large welfare state, both will hit a hard stop. This hard stop will be a SHTF moment, and remember currency crisis happen relatively fast.

Sat, 01/04/2014 - 06:04 | 4299307 slvrizgold
slvrizgold's picture

+1 for the history lesson zaphod.  So it was KY and TN that helped us get an income tax.   Its seems people there often stupidly support Democrats and their Marxist Big Brother politics, but don't worry there are plenty of equally stupid Republicans who don't realize their representatives are all whores and sellouts and frauds and can't bring themselves to admit "their people" helped engineer the biggest crime ever committed on US soil back around the turn of the millenium. 

It's like George Carlin said "Think of how stupid the average person is, and then realize that half of them are more stupid than that."  Or something to that effect.  LOL

Thu, 01/02/2014 - 15:26 | 4293972 MsCreant
MsCreant's picture

People were against the "bailouts" 100/1, in some congressfolks' districts 300/1. They still did the bailouts.

Before it happened, I would have told you that you were out of your fucking mind if you suggested it.

Thu, 01/02/2014 - 21:46 | 4295182 acetinker
acetinker's picture
Me too, MsC.  While that bailout bs was going on, I emailed my senator, Saxby Chambliss.  I had done this before, and always got a nice form letter type reply six or so weeks later.  This time, I put on my full asshole hat and closed with- So, it boils down to this; Who are you more afraid of, Wall Street or a bunch of pissed off constituents like me?  The fucker responded the same day!

He said he completely understood and shared my ire.  However, he felt he did not have sufficient support within his constituency to oppose the legislation.

If that fucker was telling the truth, we're well and truly screwed.


Thu, 01/02/2014 - 16:07 | 4294107 WillyGroper
WillyGroper's picture

they're both on the same team & just like the patriotact the bill is already written.

Thu, 01/02/2014 - 17:48 | 4294454 Panafrican Funk...
Panafrican Funktron Robot's picture

Guys, THE LEGAL MECHANISMS FOR CONFISCATION ABOVE 250K IN BANK DEPOSITS IS ALREADY SET, BOTH IN THE US AND EUROPE ($100K FOR EUR).

The mechanism is that depositors are legally considered unsecured creditors for deposits above 250K.  Below 250K (in total bank deposits, regardless of how many accounts, even if with different banks), it is secured only to the extent that the FDIC can insure those deposits.  Keep in mind that there are approximately $9.6 trillion in deposits in the US, and the FDIC has $25 billion available.  

The unsecured creditor money will be converted to bank common stock in order to make the bank solvent/pay the creditors higher up in the food chain.  A banking crash will be the mechanism for wealth transfer, just like it was in 2008.

Thu, 01/02/2014 - 14:40 | 4293820 booboo
booboo's picture

He was pro gold in jail because it was going to rise in value, he is not anti any asset, he is a realist and if you want cheaper gold then he is saying "wait". He also says that the US Stock market will continue to rise as the wealthy in floundering markets move their wealth to US assets as we will likely be the last to fall. Locked into a cement thesis is suicide and no doubt it's ground hog day for many of you each morning you wake to the same song, tuned to the same radio station. Get over it, your and my gold is nose diving until it rises again. FUCK! You clowns are hard headed. Go do something else with your cash instead of "stacking" until a better time.

Thu, 01/02/2014 - 14:58 | 4293890 akak
akak's picture

Face it, your venal and corrupt hero has long ago traded any moral and intellectual integrity that he had for a "Get out of jail free" card, and is now singing the tune that most plays into the agenda of our financial and political overlords.

Martin Strongarmed is just another willing and co-opted Quisling for TPTB.

Thu, 01/02/2014 - 15:50 | 4294056 Blues Traveler
Blues Traveler's picture

Akak, not that you care, but I am in alignment with much of you commentary and usualy with your satire.  But disagree w/ u here.  Armstrong has always been the canary in the coal mine.  He was so good they took Armstrong out.  No doubt they rattled his cage but he still calls the events on the horizon likes he sees him.

Thu, 01/02/2014 - 16:31 | 4294169 akak
akak's picture

BT, fair enough, but I have to admit, to paraphrase another poster here, that Martin Armstrong's writings, at least since his release from jail, simply makes my bullshit meter fly into the red.  And I cannot help but notice the BIG difference in the tenor and content of his writings post-jail vs. pre-jail.  As others here have noted, he NOW seems to characterize gold in the typical short-term-thinking, daytrader's manner as "just another asset" and as a vehicle to make PAPER profits, and not as the fundamentally non-fiat, even ANTI-fiat, savings vehicle that most here consider gold to be, with very good reason.

 

PS:  I did not down-arrow you.

Thu, 01/02/2014 - 17:06 | 4294285 Mr Lucky
Mr Lucky's picture

If the folks on this forum had listened to Mr. Armstrong instead of stackers like yourself, they would have sold their precious metals and locked in solid profits, instead of riding the price right to the bottom where it is heading. A smart man or woman follows trends and is not married to an intellectual or emotional philosophy. Gold will have it's time in the sun, but that time is not now. It will slip below $1,000 per ounce before that happens. By the way, Mr. Armstrong called the current stock market rally. A good track record....... how is yours?

Thu, 01/02/2014 - 17:15 | 4294312 akak
akak's picture

Yes, by all means, wait to buy a fire extinguisher and fire insurance until AFTER your house burns down.

In other words, get it through your thick and implicitly pro-Establishment mindset: a rational and long-term saver/investor does NOT trade his insurance for temporary and illusory profits!

Thu, 01/02/2014 - 18:39 | 4294598 Mr Lucky
Mr Lucky's picture

A long term investor recognizes trends and is not married to wild emotions. Perhaps you might try it, your balance sheet will love you for it. And............you call me "pro establishment". That is just silly name calling. I am all for hard assets, but why buy high and ride the price all the way down? The dollar is not going to disappear, it will be the reserce currency for years to come, and gold will have its time, but that time is not now. 

Thu, 01/02/2014 - 20:41 | 4294815 akak
akak's picture

You disingenuous asswipe, I would downvote you 100,000 times if I could.

why buy high and ride the price all the way down?

And you know beforehand just when that is going to be the case, right?  Oh, I forgot, YOU have a crystal ball which provides an infallible view of the future! 

You Monday-morning quarterbacks would be a hoot if you weren't so annoying, as well as irrelevant.

The dollar is not going to disappear, it will be the reserce currency for years to come, and gold will have its time, but that time is not now.

Spoken like Jon Nadler himself.

 

Listen once again, you stupid piece of shit, because you obviously STILL cannot figure out what is glaringly obvious to most of those here: NOBODY knows the future, and it is reckless in the extreme to gamble all or most of one's hard-earned savings against a scenario which is all but certain except for the exact timing.  You bullshit daytraders all like to talk as if you know, or even can know, what the short-term tomorrow will bring.  Get it through your damned head already: many of us DON'T GIVE A FLYING FUCK what the short-term fluctuations in the metals might be, as we are not trying to daytrade them like some blinkered asset-jumping moron with the attention span (and historical perspective) of a gnat while the game of financial musical chairs approaches its inevitable grisly end.

Thu, 01/02/2014 - 21:35 | 4295142 Ralph Spoilsport
Ralph Spoilsport's picture

lol

Fri, 01/03/2014 - 00:16 | 4295577 Xanadu_doo
Xanadu_doo's picture

Top ten all time posts, maybe. Nicely stated.

Fri, 01/03/2014 - 20:44 | 4298357 Tall Tom
Tall Tom's picture

Spoken like Jon Nadler himself.

 

That line summed it up, akak.

 

These people just do not have any clue that the Dollar is Doomed.

 

I do not care what the price of Gold is, measured in US Dollars, or, any other Fiat Currency concerning that. The whole damned system is on the precipice of a total collapse.

 

Those with Gold will be the last man standing in the wreckage.

 

I want the price to go to ZERO so I can buy it all up.

 

I want the fucking speculators OUT.

 

But then we get stuck rebuilding from the wreckage afterwards.

 

Yeah...It is a dirty job but someone's got to do it.

Sat, 01/04/2014 - 00:59 | 4298955 Miffed Microbio...
Miffed Microbiologist's picture

Thanks for that akak. 100% agree and appreciate the succinct synopsis most eloquently put in the way you do.My resolve is unwavered and I'm tired of the incessant gibbering of those who only view it as a speculative trade.

Miffed;-)

Sat, 01/04/2014 - 01:49 | 4299091 akak
akak's picture

Thank you, Tom and Miffed both.

Looking back, I wish I had not included the profanity, as the underlying truth of the matter in this case is quite forceful all by itself.

Thu, 01/02/2014 - 15:04 | 4293897 Herd Redirectio...
Herd Redirection Committee's picture

Seems like a good time to stack, TBH, as gold is 30% lower than it was this time last year!

Thu, 01/02/2014 - 17:01 | 4294268 CrashisOptimistic
CrashisOptimistic's picture

There was a good phrase in the article: Only agriculture has value.

This is true, and btw this means gold is nothing but ZH clickbait.

Thu, 01/02/2014 - 14:51 | 4293857 holgerdanske
holgerdanske's picture

I have noticed the exact same. He claims that gold's time will come, and I agree with that, but his argument against gold is from a trading perspective. He sees it as a vehicle to make paper money, and because the price at the moment is low and he thinks it will drop further, he thinks one should sell and buy something else.

I see gold as the lifeboat, who would trade your lifeboat, and for what--- to aspire to what----, a yacht??

 

there is a reason to own gold, and for me it is the fact that I don't trust the fuckers. I know they are cleverer than me and they have better information. But I also know they can't print gold, and that is all I need to know.

 

 

 

 

 

 

 

Thu, 01/02/2014 - 15:59 | 4294098 Babalooee
Babalooee's picture

Good assessment. He's always been big on capital flows, as in follow the money. Armstrong's main weakness is his grammar. He's the king of run on sentences; though it may well reflect an intelligence bound by the confines of structure.

Thu, 01/02/2014 - 16:10 | 4294125 Lore
Lore's picture

That, and he probably doesn't want to get locked up again, so has to couch his statements carefully so as to avoid stepping on hooves.

Thu, 01/02/2014 - 16:26 | 4294172 holgerdanske
holgerdanske's picture

I think he has waved the US goodbye. He resides in Switzerland, afaIk, which I think is a clever move!

(Hooves?? wtf??)

Nevertheless hat off to Martin, I just don't get him on gold, I really and truly don't!

 

Fri, 01/03/2014 - 20:55 | 4298384 Tall Tom
Tall Tom's picture

Hooves are Horse's feet.

 

A Horse's Ass generally will have hooves that plant them on the ground.

Fri, 01/03/2014 - 20:56 | 4298393 akak
akak's picture

Technically, hooves are actually horses' toenails.

 

(Imagine getting an ugly fungus infection in THAT!)

Fri, 01/03/2014 - 21:54 | 4298549 Tall Tom
Tall Tom's picture

And...and you know how to spoil a dinner.

 

LMAO.

Sat, 01/04/2014 - 01:02 | 4298965 Miffed Microbio...
Miffed Microbiologist's picture

Does happen I'm sad to say. It is an ugly stinky affair. Even a microbiologist reels when the black ooze of thrush appears.

Miffed;-)

Thu, 01/02/2014 - 16:01 | 4294099 Hapa
Hapa's picture

Good observation.  Armstrong doesn't want to recognize the metals as a safe haven, but more as an investment.  I think he steers people wrong in doing this, though he understands the corrupt currency regime and all the rest of it.  I guess some of us just have certain myopia, and don't necessarily touch all the bases.  It must have to do with his personal history and his previous money success in judging gold's price action in the 90's.  He's a trader for sure.

Thu, 01/02/2014 - 16:09 | 4294120 centerline
centerline's picture

His models are still subject to interpretation.  No one can claim 100% accuracy therein.  A black swan event can put anyone on their ass - even within the context of the cycles.

 

Thu, 01/02/2014 - 16:18 | 4294140 PartofOne
PartofOne's picture

You say "But I also know they can't print gold, and that is all I need to know."  Please don't proudly proclaim your ignorance.  They can and are printing gold (http://en.wikipedia.org/wiki/Synthesis_of_precious_metals).  If that is all you know, you're getting to be a little like me.

I used to be an aethiest.  The older I get, the more I realize I don't know anything.  I don't know ANY THING. I don't fully understand or grasp the meaning/essence of any noun (whether the noun is currently conscious or not).

I am beginning to understand that I must render unto Ceasar's that which is Ceasar's.  Proverb 11:24 "One gives freely, yet grows all the richer; another withholds what he should give, and only suffers want."

 

I used to think that QE/ZIRP was bad and I tried protecting myself with gold.  I sold it at the right time and "paid" the tax for collectibles.

I don't have a lot of "credits" in my accounts and no longer value money (there is no money, only "credit" and you can't "pay", only discharge); I value helping those I can and being honest with people.  If 10% collection happens, I will consider it a tithe (they can take what ever they want - I know HE is watching over me and I will be safe; for I have given myself to HIM and HE would never harm HISself).  I consider QE/ZIRP the end of usury and am learning to make due with what little I have instead of the accumulation of compound interest (i.e. institutional violence and the theft of labor from others).

You have no control.  Think about it...  In your life what have you tried to control and did it turn out like you desired?  Give up on fear - you have ALWAYS had what you've needed.  You are still here.  You can laugh.  You can hear the birds chirp, feel the warmth of the sun on your face.  You can love.  

Im- (prefix): not

Mort- (root): death

-al: (suffix): noun; action, result of action

After I pass from this existence, I will go into another.  As I have accepted HIM, I now know that I am IMMORTAL.  

I am walking from darkness (i.e. ignorance and the human experience) towards the light (i.e. knowledge and HIS everlasting love); I am becoming enlightened.

You are worthy, handsome, beautiful.  HE loves you too.

Take it from me, I don't know anything!

Thu, 01/02/2014 - 16:37 | 4294203 holgerdanske
holgerdanske's picture

Peace brother, peace!

I'm here, thanks to many things of which I have no control, I admit that, and to many I do have control over.

I will continue to control all that I think I can. I was not born a serf, and I will not be made into one.

However I am truly pleased that you have found a space that agrees with you.

I suppose as age creeps up on a person, your outlook changes.

 

And no, they can't print gold, take it from me!.;-)

 

 

Thu, 01/02/2014 - 16:51 | 4294239 PartofOne
PartofOne's picture

If you say gold can't be printed, it must be true.  For I hear it in your proclamation and you, like me, are a part of One.  From the sounds of it, you have also given yourself to the One and HE has put you in a position to guide HIS actions; that's not you in control, it is the current illusion you have given yourself.  Do what you do - for you are like me, Part of One!

Peace be to you.

Thu, 01/02/2014 - 20:53 | 4295015 James
James's picture

Partofone, Its been said that until you realise you in fact know nothing are you finally able to learn.

Am curious of your age?

Fri, 01/03/2014 - 21:07 | 4298428 Tall Tom
Tall Tom's picture

Timeless. Immortal. When one is there then time has no meaning. Age has no meaning. It is transcendent.

 

Opt out of the illusion and become free. Realize that the temporal will pass and the Eternal is that which endures.

 

He is right and yet I continue to grasp at the last vestiges of the lie? It makes no sense whatsoever. Accept that which is Light and reject that which is without light. You will only see that which has been illuminated by the Light. In darkness we are totally blind.

Sat, 01/04/2014 - 01:04 | 4298972 Miffed Microbio...
Miffed Microbiologist's picture

Beautiful tom. Come here more often. Nihilism doesn't become you.

Miffed;-)

Thu, 01/02/2014 - 20:19 | 4294917 lickspitler
lickspitler's picture

he is not anti gold n silver he points out that it had to correct. It's the $5000 by next Thursday guys that get worked into a lather. If you wanted a straight line play you should have had yor eye on Bitcoin.

Thu, 01/02/2014 - 14:46 | 4293845 toothpicker
toothpicker's picture

+10

Thu, 01/02/2014 - 13:32 | 4293584 xxxxx
xxxxx's picture

I agree one smart dude. I love to read his blog.

http://armstrongeconomics.com/armstrong_economics_blog/

Thu, 01/02/2014 - 14:33 | 4293789 Thing1Thing2
Thing1Thing2's picture

I have not read his blog.  His article on how Europe routinely cancels currency made me think a little.  The Fed could do the same after this self inflected fed inflated bubble pops.   Europe appears to regard the US dollar favorably because the Fed does not routinely cancel, but then again we have the QE infinity scam.  It's like cooking lobster in a boiling pot, if you place the lobster (and the lobster is acts like Americans) in the cold water before you heat the pot the lobster his happy all the way to death, but if you try to put the lobster in water that is already boiling they lobster will fight in you all the way.

Thu, 01/02/2014 - 14:31 | 4293790 Thing1Thing2
Thing1Thing2's picture

double post

Thu, 01/02/2014 - 16:01 | 4294089 TahoeBilly2012
TahoeBilly2012's picture

How weak is a society when it wants to put freedom loving Patriots in prison and not Marxists? Shouldn't it be simple, that those who promote extensive collectivism be "locked up" or simply eradicated?

Thu, 01/02/2014 - 16:45 | 4294207 Bokkenrijder
Bokkenrijder's picture

Don't get me wrong, I'm not disagreeing with Armstrong's statements, however I find this whole article very poorly 'researched' (i.e. dinner conversation with French friends) without much credible info to back up his claims.

I agree that marxists are mostly in charge (Jeroen Dijselbloem's "template for Europe...") the EU is more than just France and DieselBOOM!

I would liked to have seem more facts, more research into the EU politicians. Come on Martin, give us a well documented story here, instead scaremongering based on gossip whilst drinking too much French wine with friends!

Besides let's face it, if the shit really hits the fan and the system melts down, then a 10% haircut will be a bargain! I'll sign for that right now thankyouverymuch!

Thu, 01/02/2014 - 20:42 | 4294993 Jannn
Jannn's picture

Sun Zhaoxue: US Intends To Suppress Gold To Ensure Dollar’s Dominance http://www.ingoldwetrust.ch/sun-zhaoxue-us-intends-to-suppress-gold-to-e...

Thu, 01/02/2014 - 13:09 | 4293473 Dr. Engali
Dr. Engali's picture

You would think they got a clue from Cyprus, but we've seen the shoulder shrug reaction from that. The passivity of the sheep is stunning.

Thu, 01/02/2014 - 13:16 | 4293511 nuclearsquid
nuclearsquid's picture

its because they were told it was the wealthy, and the 'russian oligarchs.' 

Thu, 01/02/2014 - 13:14 | 4293515 pods
pods's picture

I don't think we will make it to the 10% wealth tax here Doc.  This is going to be the year of the "I thought I had insurance."

Heard on the radio this morning that NFL playoff games this weekend aren't selling out.  That right there says that people are out of money.  Soft Christmas season, no extra for circus; you are going to see a full stop on consumer spending for anything not required this year.

People are broke now, just think how broke they are going to be after a trip to the doctors or ER.

pods

Thu, 01/02/2014 - 13:20 | 4293539 Cognitive Dissonance
Cognitive Dissonance's picture

By executive order Obama just needs to order the credit card companies to increase everyone's debit limit by 20%......better make that 50%, and they can get another year or two out of this insanity. /sarc

<Just to be on the safe side, better make that a 100% increase.>

Thu, 01/02/2014 - 13:25 | 4293552 DaddyO
DaddyO's picture

Unlimited Balance!

Just like the EBT system a few weeks back...

DaddyO

Thu, 01/02/2014 - 14:24 | 4293764 zerozulu
zerozulu's picture

why TAX when you can print.

Thu, 01/02/2014 - 16:02 | 4294105 Oldwood
Oldwood's picture

They tax not for money but control. What money they do collect is only to show they have legitimate intent regarding the treasuries they are selling. BUt your premise is correct...they don't need the tax money.

Thu, 01/02/2014 - 14:36 | 4293807 cynicalskeptic
cynicalskeptic's picture

They'll HAVE to increase limits if they want people to spend ANYTHING - since prices are going up.  You think with all that cheap money out there being given to the banks by the Fed the banks would lower interest rates on credit cards a bit.  Usury seems to be viewed as some historical oddity these days.  NO interst rate is too high for banks if they're charging it.   Yeah mortgages are chesap - for hedge fund buyers but good luck trying to get one if you're a lowly peon.   I won't even get into payday loans and such... 

Thu, 01/02/2014 - 16:08 | 4294112 Oldwood
Oldwood's picture

Bush was hammering the credit card companies during his recession. Loosen credit standards and buy houses. It's the same story time after time. Paper over our declining prosperity to maintain some confidence in the system (that's cratering) while also allowing corporations to siphon what wealth that is left out before it all comes down.

Thu, 01/02/2014 - 14:06 | 4293697 Surging Chaos
Surging Chaos's picture

Yeah I heard that about the playoff games too. It's become clear that the American consumer is tapped out. Obamacare will simply be the final nail in the coffin.

Thu, 01/02/2014 - 14:09 | 4293728 Da55id
Da55id's picture

Could it be that people at the margin are just tired of football vs the price vs the free access available from dozens of channels? I know I'm not typical, but I haven't watched a game all year - same old stuff year after year.

Thu, 01/02/2014 - 15:50 | 4294024 MachoMan
MachoMan's picture

Well, I think a lot of it is the uncertainty of the future...  for folks who try to keep our ears to the ground, there are many of us trying to cut back in anticipation of harder times ahead...  not necessarily the imposition of harder times now, just the expectation of soon...  the most obvious expenses on the chopping block are jerk off shit like NFL games (not that I would ever go to one before now, but I wouldn't dare go now)...  and I love watching football...  the view is better from my couch...

Thu, 01/02/2014 - 15:58 | 4294091 Blano
Blano's picture

Even Green Bay hadn't sold out yet as of yesterday.

Thu, 01/02/2014 - 14:21 | 4293758 PontifexMaximus
PontifexMaximus's picture

It"s in a special way stunning: Cyprus, big, big yawn, nothing happened, no news, good news, business as usual. In Northwestern Franc, lorries blocked the roads, cuz Paris wanted an increase on fuel tax, they were creaping back.....this time. In EU, you have 2 countries who demonstrate, France and Italy. All the others, big, big sleep.

Thu, 01/02/2014 - 16:08 | 4294118 Oldwood
Oldwood's picture

Nothing matters because its always happening to someone else...and we do not want to believe that it could happen to us. Look at all the people still smoking cigarettes after all these years despite everything we know and have been told for years. It could never happen to them, right? Its hopeless. People will not act until hit upon the head, and of course too late. Bank on it. The bankers are.

Thu, 01/02/2014 - 14:58 | 4293889 NoDebt
NoDebt's picture

Couldn't agree more, Doc.  Absolutely NOTHING happened in Cyprus, other than instantly ruining any economy they had left.  No riots, no upheavals, nobody even thrown out of power or escaping the island in the dead of night (except those who were tipped off ahead of time and flew their money out in suitcases on private jets).  I suspect the Greeks will lay down in a similar manner (they have for everything else so far).  So will most others.

About the only part of Europe I can imagine rising up against this sort of thing is Great Britain.  Not for cultural reasons, but because they have 90% of Europe's bankers there.

 

Thu, 01/02/2014 - 16:02 | 4294083 MachoMan
MachoMan's picture

Right, but do you really think all these folks don't have a line in the sand?  Obviously bail-ins weren't the breaking point for the folks of cyprus (nor elsewhere), but at some point along the line, I can't fathom that people will sit idly by...  at some point they'll realize they have nothing, thus nothing to lose.

Thu, 01/02/2014 - 15:49 | 4294051 Gief Gold Plox
Gief Gold Plox's picture

Those paying attention were at 0 EUR bank account balances long before the Cyprus incident.

We're very few though. Very few indeed.

Thu, 01/02/2014 - 13:05 | 4293476 Zero Point
Zero Point's picture

The lack of bank runs is all you need, to see how fucking stupid people are.

Thu, 01/02/2014 - 13:13 | 4293493 Grande Tetons
Grande Tetons's picture

The pile of evidence is quite high. 

Thu, 01/02/2014 - 13:19 | 4293532 Zero Point
Zero Point's picture

Absolute tragic true story mate.

Let's just say I pick that particular one as my burden of proof.

Thu, 01/02/2014 - 14:11 | 4293727 malikai
malikai's picture

The lack of bank runs is all you need, to see how fucking stupid people are.

Rush to the bank and get your $500 out?

Broke people dont worry about their cash in the bank.

Thu, 01/02/2014 - 14:31 | 4293797 donsluck
donsluck's picture

The confiscation of Cyprus deposit accounts ABOVE THE INSURED MAXIMUM is a state-sponsored  bank run. The little accounts you refer to are below the level and were not touched.

Thu, 01/02/2014 - 16:18 | 4294150 Oldwood
Oldwood's picture

Exactly. Through divisive politics they have convinced many that higher taxes only effect the rich, and so will they sell this haircut. Eat the rich has always been their primary tool, yet the truly rich always remained unscathed.

Thu, 01/02/2014 - 20:59 | 4295040 disabledvet
disabledvet's picture

exactly..."now you have a run on the State itself" instead of "a mere bank." And the Church's position on "tithing to this State" as the answer? http://en.wikipedia.org/wiki/Cardinal_Richelieu now that's a Church. "we all submit to God's will in the end." people who find the Church "the enemy" are weirdos...and generally don't last too long or have things end well either. Lao Tzu is up there in spiritual ways in my book too. Reagan never had a problem praying. What's the problem...don't want to bow down before anyone? http://www.youtube.com/watch?v=NJJDRmtivWI

Thu, 01/02/2014 - 13:26 | 4293565 seek
seek's picture

I wouldn't assume they're not happening -- just skillfully concealed.

Remember in 2008, the US had a massive bank run that was going to collapse the system just before they announced FDIC insurance limits were boosted -- no one had any idea of the severity because it was all electronic, and it was only until years after the magnitude was disclosed.

In other words, the people are only appearing to be dumb, because the banking system likes it that way.

Thu, 01/02/2014 - 13:31 | 4293588 Zero Point
Zero Point's picture

No doubt in my mind, that when this shit happens, no-one will see it coming.

They control everything our eyes can see in this regard.

Things will simply close, and never open again in their current form.

Things like TV and internet most likely included.

Thu, 01/02/2014 - 14:23 | 4293772 InjectTheVenom
InjectTheVenom's picture

i dunno about tv going bye-bye , since that's how our masters brainwash us i mean report the news to us !    baaahhh-baaahhh-baahhh

Thu, 01/02/2014 - 15:22 | 4293946 hidingfromhelis
hidingfromhelis's picture

A friend has a dog who heels better off leash with you carrying a tennis ball than on leash without a ball.  Think people are any different?

Thu, 01/02/2014 - 21:31 | 4295128 satoshi101
satoshi101's picture

Dogs are kinder, gentler, and better natured than most people.

Ever go to safari in Africa, and see how 'monkeys' live in the wild?

When they're not eating they're raping and killing each other, rampant homosexuality ( dominance ), I suspect when MAN first CIVILIZED himself, it was that he studied how dog's lived in a group. Sure the dominant alpha-male gets the girl, but that's normal in all specie, but the kind caring male, gets the long term relationship in the end, and the alpha-male eventually gets his ass kicked and dies of old age crippled and lonely.

***

Travel folks, if you want to understand the USA. White anglo's are like the most evil killing monkey's on the planet, once you study primates and see who is kind, and who is violent, then its clear why the USA must be walled, and all those within MUST die, to protect the world.

If you want to live, get out while you still can.

Thu, 01/02/2014 - 23:09 | 4295399 margaris
margaris's picture

stop pitting nations and races against each other.

It's the people against governments/banks, and nothing else.

Everything else is statist propaganda.

Fri, 01/03/2014 - 21:13 | 4298442 Tall Tom
Tall Tom's picture

I belong to the Kingdom of God. As I am NOT an atheist I do not belong to that Animal Kingdom of which you write.

Fri, 01/03/2014 - 21:28 | 4298484 akak
akak's picture

Funny, then, how much you have physically in common with them --- same basic structure, same internal organs, warmblooded, oxygen-breathing, mostly the same physiology, same nutriotional needs, mostly the same sensations and emotions (as far as we can tell), etc. etc.  You share 99% of your DNA with chimpanzees and gorillas, in fact.

I like many of your posts, but this one I did not.  Nobody is calling you an "animal" by stating the obvious fact that you and I and every other human ARE mammals, which is to say, part of the animal kingdom.

Fri, 01/03/2014 - 22:23 | 4298607 Tall Tom
Tall Tom's picture

Well I only have 23 Chromosome pairs while the rest of the Homonids have 24. We can address the topic of "Garbage DNA" although the Biological Sciences have demonstrated that there is no such concept. We just do not understand all of the interactions.

 

(That is a little problem for the purist Evolutionist.)

 

So how can a less complex creature develop into the predominant species if we are "just animals"? Actually we are unlike that of ost species when studying far beneath, in depth, the similar traits.

 

Is the Human Species a result of Genetic Engineering? If that is the case then by whom? Furthermore we are self aware. We are aware of our own impending death. No other species on our planet exhibits this characteristic.

 

That is the major difference between the Human Being and all of the other species walking upon the face of the World.

 

I know that you know this to be true. I know that you know it because you are self aware.

 

Listening to one of my favorite atheists, Richard Dawkins, in debate with Ben Stein, was most enlightening. (Yes I do like Richard Dawkins because he is so adamantly uncertain in his certainty.) 

 

Enjoy this...

 

http://www.youtube.com/watch?v=9M_ZF8r5e7w

Thu, 01/02/2014 - 16:10 | 4294123 MachoMan
MachoMan's picture

@ Seek.  That's not true at all...  everyone knew it was going on at the time and had a pretty damn good idea of the severity (because everyone else they knew was going to buy some bread and fill up with gas along with pulling money out of the bank).  The problem is that once the runs start in earnest, all of the banks' employees tell everyone they know to come pull out money...  this is exactly what happened in 2008...  hell, even El Erian himself said he told his wife to go pull out cash.

Pretty much, all the small and regional banks got crushed and the TBTF banks got all the deposits (for what was re-deposited), under the presumption that the TBTF banks would be saved and the deposits held there would be honored...  or honored more quickly than other banks.  That's when they announced the new FDIC insurance limits and tried to give credibility to the distributed banking system proper... 

Thu, 01/02/2014 - 20:16 | 4294899 seek
seek's picture

The specific event I'm referring to occurred in the time frame of hours, and while lots of people made moves to protect themselve, no one outside of the Fed was aware of the sheer scale of what was going on. Remember that the economic distress had started in early September, but the ultimate bank run event occurred on September 18th.

As a refresher, here's a cut & paste from one of the aftermath articles that came out a year later:

“On Thursday [Sept. 18, 2008] at about 11 o’clock in the morning,” Kanjorski began, “the Federal Reserve noticed the tremendous drawdown of money market accounts in the United States to the tune of $550 billion dollars being drawn out in a matter of an hour or two. The Treasury opened up its window to help. It pumped $105 billion in the system and quickly realized that they could not stem the tide.”

At that point, officials realized, Kanjorski relates, “We were having an electronic run on the banks.”

In response, Kanjorski continued, “They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there and that’s what actually happened.”

And, if nothing had been done, Kanjorski revealed, “their estimation was that by two o’clock that afternoon, five and 1/2 trillion dollars would have been drawn out of the money market system of the United States, would have collapsed the entire economy of the United States and within 24 hours the world economy would have collapsed (which would have meant) … the end of our economic system and our political system as we know it.”

 

PS: They should have let it happen. We'd be better off today for it.

Thu, 01/02/2014 - 13:59 | 4293685 Tall Tom
Tall Tom's picture

Many of the fucking people do not have any currency in a Savings Account. They are broke and living from Government Handout Check to Government Handout Check. If they have Currency in a Bank Account then they will not qualify for the Government Handout. That is 47% whom collect SNAP, unemployment, etc.

 

Some do have Currency Balances in Checking and Savings Accounts. Many of those people are those whom are COMPLICIT. They are willing participants as they profit from the FRAUD and THEFT from everyone else, while claiming that it is "Capitalism", when the Neocapitalism, the Crony Capitalism, is clearly Socialism..

 

Then there are the Extremely Wealthy Oligarchs that own the Banks, Stocks, Bonds, and Commodities...the 1%.

 

If you are Banking on a Bank Run in the USA then you are really not in touch. That is not because of the people's stupidity. That is because of the Financial circumstance.

 

This is the method to create the Neo Feudal System. The wealth is being concentrated as the masses become enslaved. It is working splendidly. It is the wholesale destruction of the Middle Class.

 

Many on ZH are complicit when they trade in Stocks, Bonds, etc. Their own egocentrism will destroy them in the Long Term...if Fukushima does not first.

 

Collapse baby collapse. It is the Virtue of Selfishness that will ensure the destruction as they Toast their God of Mammon. Although some profess that they despise Socialism they just continue to participate in Socialism and enrich themselves.  But it is "good" to be at the top. It does not even spark a moment of regret as they are psychopaths. They have no Moral Compass, no internal conscience. There is no God is their creed.

 

It is Animal Kingdom Behavior. They feign Morality while being Moral Relativists. It is the Survival of the Fittest as is codified in the Natural Law.

 

There is a reason that atheism is a planck in Marxism, in the Communist Manifesto. It diminishes Moral Behavior within a society. They are Communists masquarading as Libertarians, screaming for "Freedom" and "Liberty" while profitting off of Socialism. They refuse to opt out.

 

The atheist libertarian is an oxymoron as it is the Truth that sets men free from bondage. It is that which is spiritual that will manifest into the Physical. The evidence for the physical manifestation cannot be more clear.

 

The dishonesty and fraud in our Government and Financial Sectors is just a manifestation of those attributes within our own soul.

 

So just what do you expect?

Thu, 01/02/2014 - 14:38 | 4293815 donsluck
donsluck's picture

I disagree. Religion does not display any more morality than atheism.

Thu, 01/02/2014 - 14:47 | 4293840 FeralSerf
FeralSerf's picture

Religion is a way for the Elites to control their livestock using the livestock's own superstitions. As such, it is amoral. There are, of course, many examples of immorality within the various religions. Christianity's claim of heresy being a capital crime is an example.

Thu, 01/02/2014 - 14:57 | 4293885 holgerdanske
holgerdanske's picture

"Religion is opium for the people"

Thu, 01/02/2014 - 15:11 | 4293917 Herd Redirectio...
Herd Redirection Committee's picture

Religion /= spirituality.

Thu, 01/02/2014 - 16:14 | 4294132 MachoMan
MachoMan's picture

not really...  spirituality is vastly more vague and, thus, less prone to organization.  It also tends to appeal, even moreso than religion, to completely lost people.  I've never heard anyone say "I'm spiritual" that had an elevator that went to the top.

Fri, 01/03/2014 - 21:23 | 4298480 Tall Tom
Tall Tom's picture

Marxism on ZH? LOL

Thu, 01/02/2014 - 15:09 | 4293921 Rusty Shorts
Rusty Shorts's picture

The Flock shall be fleeced. Where two or more are gathered together in my name, I see an opportuninty. Amen 

Fri, 01/03/2014 - 21:33 | 4298491 Tall Tom
Tall Tom's picture

FeralSerf...Lying is a Capital Crime. The Wages of Sin are Death.

 

It is not for a man to Judge. It is not that an organized Church is to sit in Judgment. That task belongs to God and God alone.

 

Men may have taken the Word and distorted it to satify their own Bloodlust. But that does not negate the existence and Omnipotence of God. God will judge them more harshly as they have known the Truth and perverted it to their own ends.

Fri, 01/03/2014 - 21:35 | 4298471 Tall Tom
Tall Tom's picture

Donsluck...If one ascribes to the Animal Kingdom then anything goes as it is not Good or Evil.

 

Is it evil that Chimpanzees sodomize the young male Chimpanzees? If Humans are Animals then Human Behavior is Animal Behavior. Then Priests sodomizing Altar Boys is just Natural.

 

If you ascribe to atheism then Nietzsche's "Beyond Good and Evil" is demonstrative that the code of Morality MUST BE ABANDONED as morality is inconsistent with Atheism and thus irrational.

 

 

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