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Fiscal Delusions or Planned Monetary Demolition?

Bdelande's picture




 

Courtesy of the StealthFlation Blog

Over the years, much to his credit, David Stockman has consistently been vehemently emphatic when it comes to exposing the abject menace of unfunded fiscal overrun and overt monetary accommodation.  Today, Stockman has become a veritable tour de force wrecking ball, directing his outrage squarely at the entrenched political and monetary establishment that has foolishly and recklessly ignored these undeniable economic malignancies he has forewarned.

Whether it be via his recent best selling book, The Great Deformation , a seething tome which comprehensively indicts an America that has lost all sense and semblance of the capitalist ideals it was founded upon, or his vibrant blog, DS’s Contra Corner , an oasis for free market advocates who warn against the menacing collusion between the State and private capital, rest assured, Mr. Stockman is being heard.

This eloquent, accomplished and well informed man has not only outlined the grave intractable monetary and fiscal predicament staring down at us like a cocked and loaded double barreled shotgun, but also has identified the obstinate culprits who refuse to face that very real reality.  No matter how delusionally determined a nation is, it simply can not spend and print its way to prosperity, same as it ever was.  Lamentably, for them and for us, the ill-considered course our financial authorities and policy makers have set sail for will inevitably bring us all face to face with a disastrous economic maelstrom of monumental magnitude.   The die is cast, or as my cousins would say; Les jeux sont fait.

As one who relished David's brilliant book, as well as having been granted the privilege to share my own meager thoughts on his prolific blog, it will come as no surprise that I am in near complete accord with Mr. Stockman’s unambiguous assessment and entirely unassailable point of view. To quote Bobby Dylan, Stockman is “right on target, so direct”.

Having indicated my tremendous respect for the man, and shared my complete agreement with the great majority of his manifest reckoning, you should also know that I don't see eye to eye with him on a distinct and crucial matter.  In fact, we have reached a near total impasse on the issue.

Let me elaborate.  In my view, David is far too sanguine in regards to the economic policy racketeers and pompous political hacks.  He sees them simply as an entirely misguided group, primarily made up of hapless deluded academics, feckless financial authorities, imperious self-seeking politicians and openly self-serving connected insiders, whom are all whistling the pied piper tune of unbridled Keynesianism, dining together on the same wantonly perceived free lunch.

In short, Mr. Stockman believes the perpetrators are nothing but imprudent self-seeking lunatics that have unwittingly lost sight of things.  The following passages from his most recent scathing article "Ritual Incantation – The Economic Gibberish Of The Keynesian Apparatchiks"  offers up vintage Stockman:

"Yep, the Keynesian priesthood is operating from sacred texts and magic numbers. One of these revelations says that 2% inflation was decreed by the great god of GDP and that any shortfall will precipitate his wrathful extractions from growth and jobs. But there is not a shed of empirical evidence for 2% versus 1% or 3% annual change in consumer inflation—–even if it were honestly measured. Its just revealed word as transmitted by the Keynesian priesthood................

 

But somewhere during the last two decades the Keynesian stimulus project migrated from the fiscal authorities to the central banks. This had far-reaching consequences because it shifted the locus of policy making from the unruly, paralysis prone machinery of legislative budgets and taxes to unelected bureaucrats and academics endowed with virtually plenary powers and 13 year terms.

 

What is worse, it put them in the full-time business of fiddling with the money and capital markets in the false belief that they could control the evolution of the macro-economy through its financial nerve center and deftly guide GDP back to the ordained path of full employment.

 

Consequently, all hell has broken loose These interventions have not levitated the real economy, nor have they closed the imaginary output gap. Instead, massive central bank stimulus has destroyed honest capital markets and enabled a giant casino of speculators to feast on the free money and market props, puts and bailouts offered by the central banks."

So where is the impasse I point to?  Well, as stated above, I am not quite so sanguine as Mr. Stockman is regarding the reasons behind our supposedly inadvertent self induced economic undoing.   It is my contention that there exists ample motive behind the apparent policy insanity we are indeed witnessing and actually navigating through.

What is being done is quite simply too plainly preposterous to be so innocently and readily dismissed.  One has to consider what else may be at play here, and who or what is driving the continuous relentless stoking of the glaring, oncoming, head on collision train wreck dead ahead.  No locomotive engineer can simply be assumed to be this brain dead, so completely out to lunch, it just doesn't add up.   Something else is at the heart of this mainlined monetary mayhem.

Call me a jaded cynic or even worse, a crackpot conspiracist, but when I see a country as majestic and powerful as the United States which has always stood for liberty and the pursuit of free enterprise, knowingly, willfully and conspicuously being undermined,  as if being herded over a cliff like baffled buffaloe on the great plains , I smell a dubious dirty rat.

So I ask you again Sir David:  Myopic Madness or Planned Demolition?

Let us bear in mind, that the IMF Multinational Central Bankers are waiting in the wings to pick up the pieces of the train wreckage, with their deliberate SDR regime preparations.  They are qualifying themselves to take on the existing immense capital account imbalances between the debtor and creditor nations.  That will  be a critical aspect of the developing picture.

As a new global monetary order begins to emerge and impose itself, the SDR composite will be expanded so as to address these utterly unsustainable trade imbalance.  The envisaged multilateral SDR monetary instrument will be positioned to buy out the existing unserviceable sovereign debt loads, whereby the massively indebted nations of the developed world will cede a measure of influence to the creditor nations of the emerging world.

Ultimately, this multinationalist central banking coup d'etat will further centralize the global monetary regime's imposition and dominance of the new international economic order.  Afterall, they are the ultimate central planners, as the entire globe is their Keynesian domain.  Is the Stockman's wrecking ball off the mark?  Could there be something quite viable here..........

The G20, taking place in Brisbane over the weekend, will address the key question of IMF global convergence which was formally initiated earlier this year.

"(Reuters) - Finance chiefs from around the globe on Friday gave the United States until year-end to ratify long-delayed reforms to the International Monetary Fund and threatened to move forward without it if it fails to do so.

 

The inability to proceed with giving emerging markets a more powerful voice at the IMF and shoring up the lender's resources appeared the most contentious issue for officials from the Group of 20 leading economies and the representatives for all IMF member nations who met with them.

 

In a final communiqué, G20 finance ministers and central bankers said they were "deeply disappointed" with the delay.

"I take this opportunity to urge the United States to implement these reforms as a matter of urgency," Australian Treasurer Joe Hockey told reporters on the sidelines of the IMF-World Bank spring meetings.

 

The reforms would double the Fund's resources and hand more IMF voting power to countries like the so-called BRICS - Brazil, Russia, India, China and South Africa.

 

The U.S. Congress has refused to sign off on the overhaul, which was agreed to in 2010, and the failure overshadowed even the crisis in Ukraine and the spillover effects of ultra easy monetary policies in advanced economies in the discussions.

 

Some Republicans have complained the changes would cost too much at a time Washington was running big budget deficits. The reforms also ran afoul of a growing isolationist trend among the party's influential Tea Party wing.

 

If Washington does not ratify the reforms this year, the G20 advanced and emerging economies said they would ask the IMF to develop possible next steps."

The Lowy Institute for International Policy, an independent think tank advising the G20 this weekend in Brisbane, offered this notable alert:

"The delay in advancing the IMF reforms is unfortunate and frustrating, damaging the credibility of the IMF and G20. This frustration has, in part, contributed to the move by Brazil, Russia, China and South Africa to establish a New Development Bank — often simply referred to as the ‘BRICS’ Bank’— that combines features of the World Bank and the IMF.  The G20 has to be more responsive in accommodating the concerns of emerging markets. While the G20 should continue to press the United States to pass the governance reforms, the G20 should not become ‘stuck’ if there are ongoing delays by the United States. It should rather be proactive and ensure that the failure to advance the governance reforms is in no way impacting the operations of the IMF and, in particular, ensure that the Fund’s surveillance (along with access to resources) is even-handed and is not biased towards any group of countries."

Moreover, this traumatic monetary transition will not go uncontested, there will most certainly be substantial tension between the Nation States involved in the pivotal negotiations, as well as with the disparate multinational interests which are at stake.  Nevertheless, there are two key developments that you can absolutely count on through this transformative period.

The first is that the international central bankers will undoubtedly position themselves to extract a choice meaty pound of flesh.  The second is that during the intense transitional deliberations determining the parameters of the new agreed upon international means of exchange, as per usual, Gold, which Greenspan just dubbed the "premiere currency" at a recent CFR event he attended, will play a vital role to establish and maintain the trust between the arbitrating parties.

Got Gold?

Serious about wealth preservation?  

This reputable firm offers unparalleled asset protection:      GoldMoney.com

 

 

 

 


 

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Mon, 11/10/2014 - 02:59 | 5431515 hedgiex
hedgiex's picture

It maybe wishful thinking that BRICS shall surrender to a new world order of SDR or whatever the concotion. The discipline required for the restoration of real free markets shall be more painful and immediate for the financialized economies of US/EC. They will not accommodate and cling on to remaining control of US dying hegemonies over global trade and investments under a fiat $.

Today's G Zero World is still alive and kicking and not dying. Of course there will be temporary alliances among these sycopants to Oligarchs where specific disorders arise to quell them. Death/Greed systems collapse on their own weights and under their own trajectories that cannot be arrested under the present crowd of Predators.

 

Sun, 11/09/2014 - 18:46 | 5430486 Cheduba
Cheduba's picture

+10 quadrillion.  The SDR is the end game - more "legal tender" to solve the legal tender problem of not allowing other currencies to compete.

You also don't get placed in the highest offices like the Federal Reserve while being clueless about the globalist schemes to control every living being on the earth.

Sun, 11/09/2014 - 18:40 | 5430474 The Most Intere...
The Most Interesting Frog in the World's picture

Planned demolition. Largest heist in the history of mankind. Outright treason on the part of TPTB and the lapdogs in both the Republican and Democrat parties.

Sun, 11/09/2014 - 15:42 | 5430039 MontgomeryScott
MontgomeryScott's picture

Max Keiser is correct on this one.

They're FINANCIAL TERRORISTS.

Planned demolition.

Sun, 11/09/2014 - 17:31 | 5430231 Radical Marijuana
Radical Marijuana's picture

Yes, Monty, there is no doubt that this is planned demolition, being done by people whose sociopolitical habits have become criminally insane. Thousands of years of social success based on backing up lies with violence resulted in one short-term increment after another of selecting for that to be done more and more ... At the present time, there is no apparent way to correct that criminal insanity, to prevent the human species madly destroying itself.

The deeper problems are that we have developed systems of artificial selection, driven by natural selection factors, to have their social success based on the maximum possible deceits and frauds. The resulting combined murder/money systems work extremely well within human civilization, EXCEPT that "success" requires more and more evil deliberate ignorance, in order to continue being successful, within the context of a civilization controlled by those enforced frauds.

WITHIN that society, those who are the best organized criminals constantly become more wealthy and powerful, and even more able to dominate the social systems which continue to promote bigger lies, backed up with more violence. However, that tragic trajectory is therefore towards criminal insanities becoming madly self-destructive. Unfortunately, there appear to be no realistic, political practical ways, to do anything to stop the established systems from eventually demolishing themselves. The ways that their evil deliberate ignorance enables them to cause irreparable destruction of the natural world go far beyond the irreconcilable social polarization.

The banksters ARE FINANCIAL TERRORISTS, whose power is based on a long, long history of making and maintaining a society controlled by lies backed by violence, which became systems of legalized lies, backed by legalized violence. However, there is nothing WITHIN those systems which can prevent the paradoxical effects of their excessive successes from destroying those systems as a whole. There is surely a planned demolition. However, there is no possible plan for how to stop that from getting worse, faster, and spinning out of control. The ways that human society is almost totally controlled by backing up lies with violence, to the degree that those behaviors almost totally dominate everything, means that society as a whole has become a runaway criminal insanity.

We have recently become apes with atomic bombs, backing up electronic monkey money. However, those systems' successes were based on more and more becoming psychotically out of touch with everything that was relatively more objectively real. Society more and more became dominated by professional liars and immaculate hypocrites, whose social successes at doing that drove their whole society to become more and more criminally insane. FINANCIAL TERRORISTS continue to become more politically powerful within the social systems that they made and maintained, and therefore, even less able to prevent their planned demolition of everyone else to not also result in their own demolition too. The overwhelming degree to which the ACTUAL death controls are operated through the maximum possible deceits, while the ACTUAL debt controls are operated through the maximum possible frauds, makes all rational evidence and logical arguments regarding that become socially irrelevant, since those are deliberately ignored within systems whose sociopolitical habits were developed to be based on successfully using lies and violence to keep other people ignorant and afraid.

All combined, the banksters' RUNAWAY FINANCIAL TERRORISM is a criminally insane planned demolition, which has no ways to prevent its own mad self-destruction. There are no ways to have any rational public debates about any important issues, due to the ways that the ACTUAL artificial selection systems became based on the maximized frauds and deceits, done by those FINANCIAL TERRORISTS, against the vast majority of people who gradually adapted to those real circumstances by becoming more and more ignorant and afraid, or conditioned to be pathetic Zombie Sheeple.

In the limited special case of those who read Zero Hedge, there are some people who somewhat understand that. However, overall, most people only have dim intuitions that something is wrong, while they mostly still feel that they do not want to discover what that is, especially since the more they begin to learn, the worse that will get, because the more one learns about the social facts, the less and less one is able to still presume upon Hanlon's Razor.

Our civilization is almost totally directed by systems of legalized lies, backed by legalized violence, which are spinning more and more out of control, since that violence can never make those lies stop being false, but only drive society to become more criminally insane. Every way one looks at it, in every sector that one examines, one will discover that the established systems of legalized lies backed by legalized violence are criminally insane, and therefore, have corresponding longer term consequences, despite making a tiny minority temporarily more wealthy and powerful from being able to make and maintain those systems of enforced frauds.

The single simplest symbol and most extreme example of that political process was the way that hemp, which is the best plant on the planet for people, for food, fiber, fun and medicine, was transformed into "marijuana that is almost as bad as murder," and therefore all cannabis cultivation was completely criminalized. Furthermore, anyone who critically looks at the fake "legalization" of marijuana more closely will discover that is another way that the controlled opposition groups are funded to neutralize the effect of more Hemp Truth, with neoprohibitionist regimes that are based on compromises with the same old lies. The ways that "marijuana is legalized" are analogous to a debate between whether the planet Earth was flat or round being resolved by those who promote the view that the Earth is a huge cube having politically prevailed (because the same evil billionaires, and the mass media they control, are able to dominate the social stories surrounding hemp, to drive their fake "legalization of marijuana" narratives, in order to prevent more radical Hemp Truth prevailing, as a way that more general radical truths also could prevail.)

That then is a metaphor for how everything else is transpiring. There is virtually no progress for more radical truth, which is the only revolution of the established systems which would be sufficient. Instead, the same mainstream morons and reactionary revolutionaries are channeling the general public desire for "hope and change" into dead ends, and so, ending up being badly betrayed. There should be much more profound levels of radical truths about how and why the FINANCIAL TERRORISTS were able to dominate our civilization. However, there is no reasonable hope of that happening, while instead, that those FINANCIAL TERRORISTS will continue to be promote bogus controlled opposition, promoting ridiculous reforms, as the most we could actually expect.

Indeed, in my view, Max Keiser is another classic example of a reactionary revolutionary, who provides excellent analysis, followed by bullshit "solutions," because that is far more popular amongst the audience of Black Sheeple that like to watch his show. Since the only realistic solutions would have to be based on more fully understanding how and why the government became the biggest form of organized crime, controlled by the best organized gang of criminals, which understanding looked into the ways that natural selection pressures developed artificial selection systems, in which human intelligence was primarily deployed to become better at backing up lies with violence, the only genuine solutions that arise from that deeper analysis is that those would have to become better organized crime.

It is because the majority of people have been brainwashed to believe in bullshit that they continue to be Zombie Sheeple, who are misled by the Black Sheeple, like Max Keiser, to work towards bogus "solutions" to their problems, which reject FINANCIAL TERRORISM, rather than embrace the reasons for how and why that become so totally triumphant.

In my view, it is interesting that an article like the one above asks the question "Myopic Domestic Delusion or Planned Monetary Demolition?" It is even more interesting that it correctly answers that question by deciding it must be "Planned Monetary Demolition!"

So far, so good, I agree with that. However, that article concludes with nostalgic nonsense, that returning to the principle of the conservation of matter, exemplified in gold, could provide some kind of superior resolution for a situation where there is now globalized electronic money, backed by atomic bombs. As I present the theme of my comments upon similar articles republished on Zero Hedge, there is nothing less that would be sufficient than intellectual scientific revolutions, that applied to political science, so that we could radically revolutionize the ways that the combined money/murder systems operate by backing up their debt controls with death controls.

Money IS measurement backed by murder. Appearing to back up money with some commodity is merely the backing up the measurement of that commodity with murder. There is no way to avoid the deeper dilemmas that what systems of human artificial selection must do is channel the infinitely bigger forces of natural selection. The central core to natural selection pressures are its death controls, which automatically follow as a package deal of chronic political problems that come along with the existence of life.

There is no way around the essential issue that the production of destruction controls production. That is what the banksters' political power, as FINANCIAL TERRORISTS, was always actually based upon, because they were successfully able to apply the methods of organized crime to dominate the political processes. Any continued reliance upon false fundamental dichotomies, and their related impossible ideals, as the inspirational source for "solutions" to those problems continues to indulge in the same frame of reference of basic bullshit as the biggest bullies originally promoted.

Of course, most of the mainstream morons tend to simply believe in the biggest bullies' bullshit social stories, despite the manifest absurdities which become more obvious to anyone who more critically examines our currently dominant state religions, the monetary system and national security. However, I find that most of those who do some relatively good analysis of those social facts, still then collapse back to bullshit "solutions" based on the same old-fashioned impossible ideals, because their relatively good analysis of the real social facts short-circuits back to basic beliefs in false fundamental dichotomies, when they turn from their historical analysis to proposing their bogus "solutions," still based on their preferred old-fashioned ideas.

Therefore, the overall nature of our predicament is that the biggest bullies' bullshit world view, currently promoted by the banksters, and those who are controlled by their money, dominates our civilization, while there is not much else but controlled oppositions groups, that somewhat reveal more social facts, but then still stay within the same old bullshit frame of reference when they turn to promoting "solutions." Metaphorically, that is like there are these groups operating through the established social pyramid systems: the Vicious Wolves, directing more Domesticated Dogs, who herd the masses of Zombie Sheeple, while the only publicly significant opposition groups are Black Sheeple.

Given that is the basic way that the current social pyramid systems operate, almost totally all within the same bullshit, including bullshit in the basic philosophy of science, we are not remotely close to any kind of sufficient intellectual scientific revolutions, which would actually be necessary to cope with having developed globalized systems of electronic frauds, backed by atomic bombs. Instead, the best we currently get are articles like the one above, that provide somewhat better analysis of the real situation, which come to the right conclusions, within its own frame of reference, but which nevertheless, after more than 90% good analysis then ends up with less than 10% of its content at the end collapsing back to bullshit "solutions" based on bogus old-fashioned nostalgic nonsense, such as that gold provides any answers.

Sun, 11/09/2014 - 20:30 | 5430396 essence
essence's picture

RAD Grass

Do people really want answers or do they merely wish for their immediate comfort and security?

Far as I can determine, PM stackers (for the most part) aren't particularly noble. If a NWO is implemented and they with their stack slip through the few cracks in the authoritarianism then that's good enough for them.

PMs could have a place in a new system however I see little in the way of rational arguments concerning that. I see few folks that can explain the differences between past "Gold Standards" and why that was of importance, few that can discuss the differences between the 'HardMoney' view and FOFOAs.  Few seem willing to explore how a model such as the private company "GoldMoney" implements it, i.e. could be incorporated worldwide.
Jim Willie seems lucid talking about 'Gold Trade Notes' then goes off the rails at times with his ranting on other peripheral subjects (does not quickly provide copious supporting evidence. Major Fail,  and lesson to bloggers who introduce radical thoughts expecting their audience to implicitly accept them).

If we by chance should have any say in a new system, then shouldn't we educate ourselves in depth about what was used in the past, how that solution was arrived at (i.e. the economic & political forces at play then), the manner in which it failed (again, learning from the subsequent political & economic developments that brought about the failure); learning from its shortcomings.  Shouldn't we take that knowledge and juxtapose it to proposed current solutions and encourage debate.

This article directs attention to the question of whether or not our current slow-motion trainwreck is planned and what might lay after it (and yeah, there's a hint of young bull supplanting old bull to it).   It's a basic start. 

I'd like to see more material along the lines of this article. If this is a planned demolition then who is behind it and what is their goal.

Personally, at this time, I think ultimate, centralized, world control by a few is the goal. Certainly events lead to that conclusion. If there is any one common denominator to political/financial/social events, it is the centralization of control.

 

Mon, 11/10/2014 - 03:49 | 5431558 Radical Marijuana
Radical Marijuana's picture

Yes, essence, centralization of control, for instance, as stated by G. Edward Griffin the author of The Creature from Jekyll Island in these FLASHBACK videos:

https://www.youtube.com/watch?v=lu_VqX6J93k

http://www.youtube.com/watch?v=ynVqPnMQ2sI

I REPEAT my view is that the ability of some human beings to control other human beings, with lies backed by violence, may be relatively successful within the human world, especially since those who are thus controlled for generation after generation become ignorant and afraid, HOWEVER, over the longer term, that kind of social success, due to social control based on enforcing frauds, drives the whole system OUT OF CONTROL. Those who try to centralize control eventually create a criminally insane society in proportion to the more successful they become at doing that!

When looking at natural systems, one will often see that nature tends to favour diversity over the longer term, because that is more adaptable. Nature allows extreme specialization, which is like the monopolized central control. Indeed, for a while that could flourish. However, in the longer term that kind of monopolization of power gets wiped out, because it is not adaptable.

Centralization of control, achieved by backing up lies with violence, works all too well in the short-term, but then less and less well in the longer term. We appear to be nearing the tipping points where that transition happens. Another way to see that is that the pyramidion people, who originally made and maintained the social pyramid systems, used to be behaving like top predators, HOWEVER, they have tended to degenerate into parasites that are killing their host.

After the social pyramid systems became electronic frauds, backed by the force of atomic bombs, I no longer believe that there are any groups of human being which are still in control of that. There is plenty of historical material regarding how those systems gradually developed to become what they are, but NOTHING which comprehends what happens AFTER the gold and silver backed by spears and swords goes THROUGH the phase of paper backed by gunpowder, to become electronics backed by atomic energy. I regard most of the history of the combined money/murder systems to be like ancient archeology, that helps one understand how those currently crazy and utterly absurd entrenched systems originally got going, but that does NOT help predict where those are going next!

Sun, 11/09/2014 - 16:41 | 5430162 covert
covert's picture

it was planned years ago. the warnings were ignored.

http://www.covert.co.nr

Sun, 11/09/2014 - 15:20 | 5429985 AdvancingTime
AdvancingTime's picture

Contagion is a problem, we  are all interconnected for better or worse. Some people have been calling for a "world currency" for years. the saying "one should never let a good crisis go to waste" means a meltdown with high levels of fear would present a perfect opportunity and catalyst to advance this agenda down the field.

Remember many people with agendas have a lot to gain when a major shift in the currency markets takes place. Even with some countries not participating in such a currency dislodging the American dollar as the world reserve currency represents such a shift. Calls for a new world currency may grow over the coming years, if the world stumbles into an economic hell the noise could become deafening because people and their leaders tend to look for easy answers. More about how chaos in the currencies might bring about a new world wide currency in the article below.

http://brucewilds.blogspot.com/2014/02/contagion-may-lead-to-new-world-currency.html

Sun, 11/09/2014 - 13:44 | 5429712 Midnight Rider
Midnight Rider's picture

The Fed has created a problem so big over the past two decades that we are like a semi-truck skidding down a ice covered road bouncing off the side rails of bubble and recession. One day I suspect in the not to distant future, one of those side rails is going to give, and I'll give you a hint, it won't be bubble. At some point the problem will become so big that recovery will be next to impossible as we slide down the canyon. "Control" will be lost and we will need to dig ourselves out of one of the most massive ditches imaginable. The Fed and other central banks are desperate at this point. They see that siderail over there weakend by their policies and are scared to death of the next time we hit it. It's going to give, and it's not going to be pretty.

Sun, 11/09/2014 - 14:09 | 5429803 Tinky
Tinky's picture

Pretty good metaphor, and I agree completely that they've lost control already, and the impending crash ain't far away.

Sun, 11/09/2014 - 13:43 | 5429706 Fred C Dobbs
Fred C Dobbs's picture

In other words, to get to their stated goal of one world government then the USA has got to go. 

Sun, 11/09/2014 - 20:50 | 5430773 blindfaith
blindfaith's picture

we are the mad dog chewing on it's own tail.  The termite surrounded with so much rotten wood that plastic now looks tasty.  Bankrupt the beast is how you end nations, states, counties, towns, schools, churches, people.

Selling out is history, guys.

One world government will not work anymore than this 'free trade agreement' that has Mexico, USA, Canada, Asia and the rest hog tied.  Just wait until this new "trade agreement' get passed and watch the meg rich take the countries by the balls.  The IMF, may be hey are not as smart as we think or they think they are.

Sun, 11/09/2014 - 15:42 | 5430042 MontgomeryScott
MontgomeryScott's picture

BINGO!

Sun, 11/09/2014 - 20:06 | 5430670 Winston Churchill
Winston Churchill's picture

The MIC is one very big loose end that needs liquidating for that agenda to

go forward.

Sun, 11/09/2014 - 13:41 | 5429701 ebworthen
ebworthen's picture

All cons and ponzi schemes need front-men (and women) to shake down the individuals and families - to put a seemingly reputable and trustworthy face on a total scam.  Some of these salespeople are dupes themselves who believe in the "product", but most know the game and want their cut.

The Central Banks are the front-people for the bank/corporate wolves that seek to sheer then slaughter the sheeple.

Some are doe-eyed dopes, starchy academic potatoes who believe the drivel (Krugman), but most know it is a lie.

Sun, 11/09/2014 - 15:26 | 5429996 AdvancingTime
AdvancingTime's picture

It may already be starting to breakdown. The falling value of both the yen and euro will reek havoc through contagion. Recently several major currencies made multi-year highs or lows depending on the match-up .

While there are not many Bond Vigilantes there are a slew of  Currency Vigilantes and they are ready to make their presence known. Weakness in the value of the Yen, Pound, and Euro must not go unnoticed. More on why this may be a signal that currency trading is about to get very wild in the article below. Please note, this may also be sending a signal that the whole system is unstable and the stock market could drop like a stone due to contagion.

http://brucewilds.blogspot.com/2014/09/caution-alert-currencies-may-get-wild.html

Sun, 11/09/2014 - 13:12 | 5429581 shovelhead
shovelhead's picture

The Eye of Sauron will not be denied:

One Ring to rule them all, One Ring to find them,
One Ring to bring them all and in the darkness bind them.

Globo-buck.

Coming whether you like it or not. The world's globalists are tired of being treated as jr. partners in the reserve currency racket by the US.

Give us a single currency and the court to make our own rules and you can keep your imaginary lines and your pretty stamps.

Sun, 11/09/2014 - 12:51 | 5429550 bitterwolf
bitterwolf's picture

at some point gold will have to be discredited as a storehouse of value in order for the global elites dream of a one world currency/bank to take its place as universally accepted/trusted medium of exchange... and they will succeed...just a matter of certain events transpiring..........because we do not live in the 19th century anymore....it is all about efficiency..that is the root of Capitalism

Sun, 11/09/2014 - 13:36 | 5429474 kchrisc
kchrisc's picture

It appears to be self-destruction of the economy, but what if the ones doing the destroying can just "return," flee?! Then it might just appear to be really more like looting than self-destruction?!

An American, not US subject.

Sun, 11/09/2014 - 12:21 | 5429472 Stained Class
Stained Class's picture

The US is 55% of the IMF, so if we don't go along it doesn't get done. Its no mistake the US banks are in better shape than others globally, and it will be US Banksterz who pick up the pieces in Europe. Unless deflation takes hold here.

Sun, 11/09/2014 - 15:29 | 5430002 lasvegaspersona
lasvegaspersona's picture

2 words...Golden Panic...

All the EU has to do is call for gold in size...since there is none it would reveal the fraud the dollar has become...

remember, the US lives on the kindness of strangers. The idea that we can dictate the course of history or the future of the IMF is silly.

Sun, 11/09/2014 - 19:12 | 5430308 essence
essence's picture

Your FOFOA reading shows VegasPerson

However FOFOA is hazy on what credible 3rd party regularly audits the EU's gold and determines not only that it is physically there but also that it is unemcumbered.
Remember, in the EU "when things get serious, you have to lie".
Why would it be any different for the ECBank and their gold holdings?

FOFOA is also fond of relating FOAs quote:  " if you hated the last monetary system, you'll hate the next one".

FOFOA also BADLY handled the issue concerning return of Germanys gold with his explaination. Probably because he can't gracefully explain what has happened under his current model.

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We we wake up one day and the BIS is buying physical gold at 50,000 USD so as to get physical out of hiding & flowing. According to FOFOA that's going to unfold. 
To me it would seem that the Chinese are far better positioned to pull that off. Are the very top elements of the Chinese/Russians/BRIC lessor others  working in harmony with the BIS/BOE/Fed/BOJ?

This article starts down that path. I'd like to see more speculation along these lines.  Cue Brandon Smith.

 

Sun, 11/09/2014 - 13:12 | 5429469 Alberich
Alberich's picture

There is a third possibility, that doomed monetary policies are chosen by the elites simply out of very high time preference. It's precarious at the top and best to fill your pockets while you can. Such people believe whatever is in their short-term interest to believe and justify it with sophistry.

Those few with a more long-term grip on power may be setting up for the collapse, but there is no reason Stockman and de Landevoisin can't both be right.

Sun, 11/09/2014 - 12:17 | 5429465 AdvancingTime
AdvancingTime's picture

In his book "A Time For Action" written in 1980 William Simon, a former Secretary of the Treasury tells how he was "frightened and angry".  In short he sounded the trumpet about how he saw the country was heading down the wrong path. William Simon (1927 – 2000) was a businessman, and a philanthropist.

He became the Secretary of the Treasury on May 8, 1974, during the Nixon administration and was reappointed by President Ford and served until 1977. Now after that brief run down I return to my point. David Stockman is correctly voicing the same concerns that haunted Simon before Paul Volcker crushed both inflation and reset the economic path for over a decade. The article below gives a few more details on this. Unfortunately we have gone to far this time and turning back does not seem to be an option.

http://brucewilds.blogspot.com/2012/09/a-time-for-action-1980.html

Sun, 11/09/2014 - 12:44 | 5429535 KnuckleDragger-X
KnuckleDragger-X's picture

None are so blind as those who refuse to see....

Sun, 11/09/2014 - 11:49 | 5429402 Bighorn_100b
Bighorn_100b's picture

How many days,months,years, do I have to keep stacking before I can't afford buying gold and silver?

Nobody has the answer, do you?

Sun, 11/09/2014 - 11:50 | 5429408 nostromo17
nostromo17's picture

EXACTLY! MOST OF US ARE ALREADY FINANCIALLY RUINED WAGE SLAVES> OR ON SOME FORM OF GOVERNMENT DOLE WHERE WITHOUT A QUANTUM LEAP IN INCOME AND HEALTH INSURANCE ONE WILL BE WORSE OFF TAKING A CRAPPY JOB WHOSE SALARY WILL BE SUBTRACTED FROM YOUR BENEFITS MAKING YOU NET POORER. OR SOME COMBINATION OF THESE TWO CIRCUMSTANCES.

AT THIS POINT WELFARE IS IN PLACE TO KEEP THE FORCED IDLE PASSIVE ENOUGH THEY DON"T LYNCH THEIR CORRUPT OVERLORDS. ITS NOT TO BENEFIT EVERYONE ITS TO KEEP EVERYONE QUIET BOXED IN A NO FUTURE SLAVERY.

THE "RICH" (FOR NOW) PAY WELFARE TO AVOID THE LYNCH MOBS NO OTHER REASON.

Sun, 11/09/2014 - 11:45 | 5429391 nostromo17
nostromo17's picture

Unfortunately while some may think they are "planning" the tampering with interest rate suppression and trying to fiddle their way around %40 of capital dissappearing due to the mortgage fraud crisis* really speaks to the utter imbecility and stupidity of those that entrust themselves to "manage the economy."

The stock market is up due to being inflated by the QE circus so its not worth a penny more than it pre-inflated value or worth less. The consumer has been gutted along the way and the hordes of unemployed can't consume either so we have the situation that the few that are "more wealthy" have cut off their noses to spite their face. The economy cannot work without middle and even poor class people to buy things, period. People buying apple products (over priced style bling) do not make an economy.

So I lean towards Stockman and then some. Its really the ignorant leading themselves and everyone else to ruin their ignorance only guided by their corruption. The FED is a captured propaganda machine. Almost all the FED's economists like all economists should have no role whatsoever setting policy because they are light years away from understanding economics and have no impact except they impose erroneous incorrect actions which only make things exponentially worse.

The low rates only help to change coupon structures of government debt to lower numbers which at best is a slight brake on that disaster. More important than rates of government debt is TAX REVENUES which generally stall or become smaller in the current context and would increase substantially if there were an economy not sliding into deflation.

ITS sad little will be done until some utter collapse occurs and Democrats and Republicans one party system is removed and replaced by a government of the UNSILENT MAJORITY. The first will happen eventually the second is the best possible outcome and it is tenuously likely more likely unlikely.

* (overvalued then not written off with value collapsing from the paper %140 to %60 as borrowers obliged to honor their phantasy value debt in the corrected value environment, instead of it all being written off and closing the banks that created the situation) 

http://pragcap.com/quantitative-easing-the-greatest-monetary-non-event  

QUANTITATIVE EASING: “THE GREATEST MONETARY NON-EVENT”

Sun, 11/09/2014 - 12:43 | 5429531 KnuckleDragger-X
KnuckleDragger-X's picture

We have been over-run by business school graduates and academic economists who have no clue what they are doing. When I left active duty in the early 80's and went to work for IBM as a computer enginneer they promoted entirely within the company and planned out 5-10 years ahead of what they were going to do. Many times their plans had to change which tended to be like turning a supertanker around but they could change. Nowadays its quarter to quarter with no outlook of any kind except to line their pockets and paper over the fact that the ship has hit an iceberg. They are selling their assets off a piece at a time rather than do the research and make the capex needed to stay competitive. The worst thing is IBM is not an isolated problem but standard operating procedure across the board for all corporations and the idiot talking heads on the financial talk shows and writing in the various journals actively encourage this behaviour and people like Stockman are lonely voices crying in the wilderness. This will not end well and Joe and Jane Average is the people who will suffer for it.

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