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Jim Grant Sums It All Up In 2 Stunning Paragraphs
What will futurity make of the [so-called] Ph.D. standard [that runs our world]?
Likely it will be even more baffled than we are. Imagine trying to explain the present-day arrangements to your 20-something grandchild a couple of decades hence - after the crash of, say, 2016, that wiped out the youngster's inheritance and provoked a cenral bank response so heavy-handed as to shatter the confidence even of Wall Street in the Federal reserve's methods...
I expect you'll wind up saying something like this:
"My generation gave former tenured economics professors discretionary authority to fabricate money and to fix interest rates.
We put the cart of asset prices before the horse of enterprise.
We entertained the fantasy that high asset prices made for prosperity, rather than the other way around.
We actually worked to foster inflation, which we called 'price stability' (this was on the eve of the hyperinflation of 2017).
We seem to have miscalculated."
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Source: Jim Grant's November 2014 speech at the Cato Institute
Full keynote address below: (Grant begins at 10:00)
h/t @Not_Jim_Cramer
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That is where we are at today: Rome is burning and most folks are cheering in the arena.
Rarely do the people who fall in the top brass blare the truth in so simple terms for those willing to listen and digest the true meaning of the enormity of the conclusion being shared.
http://www.marketoracle.co.uk/Article40231.html
http://www.zerohedge.com/news/exter-inverted-pyramid-refresher
Jim Grant doesn't know his ass from a hole in the ground, all he is doing is preaching his ideology's interpretation of what he wants to believe to be true.
Jim is preaching an undeniable truth: Central Planning always fails.
Whether it is Soviet Commissars deciding what style shoes the whole country will wear or central bankers deciding what interest rates should be. It will always end the same.
spoken like a kosher weiner.
now get back in your bun.
Youri Carma sums it up in two words Fraud & Fraud.
For those born before 1960: https://www.youtube.com/embed/J55S38xwxnQ?rel=0
Hey ZH,,, Remember Pearl Harbor.
It is the density of Ads on Zerohedge that has made me install AdBlock across all browsers.
It is the density of Ads on zerohedge that is the biggest factor in undermining the sites credibiity.
Having reccomened this site to many, they shrug it off as tin-foil-hat territory.
I have, thus stopped reccomending ZH entirely
A bit extreem reaction all together I would say. ZH is top with or without adds and add-on Flashblock is enough to get out harms way.
It makes sense that everything is going to crash. I've been waiting a long time for it to crash, yet it never does.
Patience is a virtue!
You bet your ass WE/They have miscalculated! A great deal of the shadow banking world falls into and overlaps into the grey world of derivatives. There is no single commonly adopted definition of derivative or derivative contract in the European Union. This plays havoc with what and when reporting rules apply. It also highlights divisions in how national regulators view reporting rules for the $693 trillion over-the-counter derivatives market.
Remember this is only part of a much larger market that includes hundreds of trillions of dollars in non-reported agreements and private contracts. Everyone paying attention knows that the size of the derivatives market is 20 times larger than the global economy. The article below explores some of the ins and outs including the risk derivatives pose and why they could collapse the economic system.
http://brucewilds.blogspot.com/2014/03/derivatives-house-of-cards.html
Good time to re-read Animal Farm.
OT/ Lets shift the interrogation of lack of due consideration to Moral Hazard in the financial system to that of its sister, aka as practised in the political system, thus QUESTIONING the MINDSET of the current administration and its regard for democracy and transparency :
When will this Administration release to the public the Torture File that the CIA has prepared pertaining to the Bush Administration years?
It seems that in the context of the current debate on administrative misuse of Executive Orders, contrary to the wishes of people's reps in Congress (now more and more GOP oriented), a look back to the inner and murky workings of the period which INITIATED Patriot Act and Gitmo detention camp is very much in order.
Its time to clean out the Augean stables of US administrations past and present, as the streets of America's cities hear the cry of "Administrative twin towers of racial discrimination; by the police and by the courts justice".
What happened to the spirit of the Watergate?
The system will crash alright, but it won't be hyper-inflation that nails the coffin shut...
http://www.globaldeflationnews.com/inflation-vs-deflation-part-1which-on...
http://www.globaldeflationnews.com/anatomy-of-a-bubble-how-the-federal-r...
ELIMINATE THE CENTRAL BANKS AND ELIMINATE THE BANKERS INVOLVED IN THE FRAUD !
everything evil can be traced back to them
As long as the dollar is the reserve currency, there will be no hyperinflation. What will most likely happen is that the dollar will become so strong as to crash the economy.
Can you elaborate more on ur comment?
As economies collapse around the globe with soveriegn defaults, money will flow to the USA which will boost the dollar. I am not saying the US is not in trouble also but we have fewer problems because we are the reserve currency. That status may change but not right away. China, Russia, Japan and Saudi Arabia hold huge amounts of dollars so they do not want to see the USA collapse.
As long as the US currency is the reserve currency, it will be accepted. When the reserve currency status ceases , it will no longer be accepted. Don't forget, the reserve currency status of the US dollar allows america to export inflation to the world, effectively TAXING the globe. But this will end and when the rest of the world no longer has to pay that tax, they will be better off, and when the rest of the world no longer accepts the US currency, Americans will be worse off. With the US dollar worthless, america will loose its ability to wage economic warfare on non-complying countries. In fact, global prosperity should flourish once the federal reserve notes become less than toilet paper.
Hyperinflation, the Holy Grail of the goldbug religion.
Never have so many waited so long only to be disappointed.
It's not just the American people that are waking up to the theft and abuses of the Federal Reserve. It's happening on a Global scale, worldwide there is distrust in Central banks. The world it seems is tired and finished with the status quo. There are presently nations excersizing their options and the U.S. and the dollar aren't included. It's becoming obvious we aren't as important as we've been lead to believe. We were once first among the world, respected, envied, revered,and even feared. None of that is true any longer. Robert Zimmerman said it well i think " The first one now will later be last, for the times they are achanging"
We gave them nothing. They stole it and raped us.
if the purpose of the system is to amass wealth in the form of a medium of exchange that can be exchanged for assets then what is wrong with a system that dispenses the medium of exchange for the purchase of assets to the people who purchase the assets?
the system works exactly as it is designed to work. in the early to mid years of a capitalist system the emphasis is on production of goods and services to supply the medium of exchange. as an economy matures in a fractional reserve monetary system it becomes apparent that production of goods and services is not neccessary for the production of the medium of exchange. upon that realization the "production" of the medium of exchange becomes the purpose of the economy.
i've told my childrem for 2 yrs. now, that the most powerful few in the world, (PRIVATE owners of the BIS), accomplished a milestone for their nwo agenda, a full take over of americans financial assets, in 2008.
for a 100 yrs. americas, so called financial system, has been a systematic transfer of americas true wealth, and americans assets to the federal reserve, which is owned by BIS, which is owned by a few of the worlds richest.
i ask them one simple question, where you bank, and maybe save some of your money, if there's a run on that bank, and it's forced to close, who owes you.
the looks on their face when i tell them you maybe owed that money, but legally you stand a very small chance of collecting it, (ie. mf global).
then the looks i get when i explain the real poosibility of the confiscation of their 401k's, by the federal reserve, to be put in their banks, and yes owned by the BIS, and yes privately owned by the richest in the world.
i tell them go to the internet look at americas financial authorites, and it's system, assemble a pyramid to represent the system, where are you on this pyramid, yes thats true, when illustrating a ponsi scheme a pyramid is also used.
bottom line, you as a human, your ablity to produce an asset, is the BIS's collateral.
they bypassed thinking and knowledge for
stealing and crony genital licking, like dogs,
and called it leadership.
.
A Whiter Shade of Pale
https://www.youtube.com/watch?v=SkiggbPb5CY
.
i thank tyler and jim grant for pointing it out.
And with nuances of the pterodactyl all things come to pass bitchez.
I bought a Sharp calculator 25 years ago and it is on the second battery
in that time. Not once has it miscalculated in 25 years. How is it possible to miscalculate in the computing age, wtf?
Does it tickle anyone's "spidey sense" (have to employ a term that the adolescent understand because the majority of ameriKan sheeple are nothing but adult adolescents when it comes to issues of importance) that the lamestream media, holly-wood, 1/3rd of the supreme court, our foreign policy almost all influential websites (google, facebook, wikipedia, ebay, yahoo, myspace) and the CENTRAL BANK are all controlled and owned by ~2% of the population?
No, they are not smarter...
You need not look any further as to why this country is not the country you remember not 15 years ago.
Follow the names and connect the dots. It's not a theory, it IS a conspiracy.
https://www.youtube.com/watch?v=pr5RXMs45Wg