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Alan Greenspan Warns Of Explosive Inflation: "Tinderbox Looking For A Spark"
Submitted by Mac Slavo via SHTFPlan.com,
Last month it was revealed that former federal reserve Chairman Alan Greenspan, the architect of U.S. monetary policy under four Presidents, is anticipating a significant market event as a result of the trillions of dollars that have been pumped into the system over the last several years. According to Greenspan, something big is coming.
His comments were shared by well known resource analyst Brien Lundin, who joined Greenspan for private discussions at last year’s New Orleans Investment Conference. In his latest interview Lundin further clarifies Greenspan’s private thoughts on current economic and monetary policy and sheds light on the former Fed Chairman’s suggestion that ‘something big is coming.‘
Greenspan made some good points to me… He was concerned about inflation… He was specifically concerned in relation to the outstanding, or excess, reserves which are close to three trillion dollars being held on the Fed balance sheet now… That money is just hanging over the U.S. economy like a big water balloon of liquidity and it’s just searching for a pin.
In fact, Greenspan referred to it as a tinderbox of explosive inflation looking for a spark.
Watch the full insider interview:
Greenspan believes that in five years gold will be “measurably higher” than current levels because of the excess liquidity that will eventually be released into the open market. Such an event will undoubtedly lead to riots across America as the general public, woefully unprepared for rapidly rising prices when the pin finally pops the dollar bubble, loses access to affordable critical supplies like food, gas and other resources.
The collapse of the dollar, an inevitability suggested by Alan Greenspan, will be a game changer that results in the quadrupling of the cost of living for the average American.
All the while, as the United States stands on the brink of the most important event of our lives and in a world of extreme monetary and economic instability, stock markets are at all time highs. What’s more, the very resource sectors that matter – energy, agriculture, gold and the precious metals mining companies that get it out of the ground – have been decimated recently:
Most people [at the investment conference] seem to share my belief that we’re bouncing around the bottom… that we’ve not necessarily seen the absolute lowest prices in metals but that they can’t go much lower than this because we’re right around the all-in cost of production… Your downside risk is may be 20% but the upside risk for really good companies that have good projects is on the order of 300% to 400% once the market gets back into gear.
As noted by Brian Lundin, with the demand from central banks and the global public, coupled with the obvious fundamental problems inherent within the system, the price of gold should have been rising but has been crushed instead. This, of course, bodes well for investors and those who intend to protect themselves from the collapse to come. The reality of the situation is we’re in trouble and Alan Greenspan, arguably one of the most informed insiders on the planet, has implied that it’s more than likely unstoppable:
He [Greenspan] seemed to believe it was somewhat inevitable that the release of those reserves would create much higher inflation… the Fed just hopes they can get out of this alive… a normalized interest rate environment, which is what they say they seek over the longer term, is fiscally impossible for the U.S. at this point in time.
This is a well known fact within Fed circles and those on the inside are positioning themselves with hard assets for what will ultimately end in a collapse of the U.S. dollar and the American way of life.
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one day i will be the first read!
i'm #6 today!
So US Equities are undervalued then. Buy Zimbabwe Style. Gangnam Style.
Until Alan flat out says "You fools trade your lives for a piece of paper with some art on it or for digital blips, and the fed makes them and lends them to you at interest", Hes a fuckhead in my book.
Rips has spoken.
LOL
Stating the obvious is one thing, but stating the past is getting stale.
False alarm, Greenspan's second glass of Metamucil caused explosive DIARRHEA. Nothing to see here.
He spent decades speaking bullshit you couldn't understand. Now he's speaking English.
I Still Believe This Old Geezer... He KNOWS The "Inside", He Knows The GOLD Manip Game.
He Is Most Probably Heavily Into GOLD. Always Has been?
He Knows The CURRENT GAME And He Knows Its Time Will Be Up At Some Point...
He Knows GOLD Will Perform, Massively...
GreenSpam still trying to polish the turd that is his legacy.
in five years gold will be “measurably higher”
Shouldn't that be immeasurably higher?
Greenspan knew exactly what he was doing while he juiced the monetary system and participated in gold rigging for decades.
Well here we are.
Now he is scared.
Really scared. And he can't stop talking.
Albert Edwards has it right when he refers to Greenspan as a "prospective econcomic war criminal" for his actions.
http://www.zerohedge.com/news/2015-03-07/give-everyone-check-10-million-it-will-create-inflation-albert-edwards-first-tv-inte
"Now he is scared.
Really scared. And he can't stop talking."
Yep, visions of a lamp post and rope are dancing in his head.
Greenspan is wrong almost all the time and ertainly this time
Maybe he's wrong. Our next currency could very well be a "propaganda based currrency." We'll never run out of backing.
"propaganda based currrency."
The PETRODOLLAR (since 1971!).
What's in YOUR wallet?
"We'll never run out of backing."
(SHHH. That one's a SECRET)
Fuck you, Greenspanke!
OK, let's see what we got: Alan Greenspan who was figurative head of the Federal Reserve for years. Mr. "I don't see any bubbles" led the US on the most disastorous crash since the 1930's and now finally he seems to have found Jesus? Get real. He was the head of the most powerful economic force in history. You gotta ask yourself if he wasn't doing what his old bosses told him to do THEN or after stepping down, do you think he would still be alive?
Massive deflation, then inflation.
Agreed. That liquidity is never gonna make it into the real economy, thus the inflation he speaks of won't happen. They purposefully pumped these assets to buy them with the coming stronger dollar. I'm sure we'll see more inflation relatively soon, but not before a deflationary period that corrects (and allows the banks to profit from) the monetary excess of the last 7 years.
Well, I guess Greinschpawn should know what he's talking about.
AFTER ALL, HE HELPED BUILD THE FUCKING THING.
What's he doing, trying to give a 'death-bed confession' so that his progenitors won't be strung up and hung like he should have been? His legacy was keeping 'deflation' in check (by CREATING the conditions for INFLATION).
Indeed ! Now the old geezer tries to sound rational and sensible, however back then he had been anything but. And let's not forget that little professional lynching job against Brooksley Born...
I shan't forget. Oh, to be a fly on the wall, 5 minutes before he takes his last mortal breath. Really, if I were, I'd probably just poop in his eye.
I'd aim a bit lower.
And I wouldn't be a fly.
At least he can see it comming,unlike some other financial experts.
He should know about the coming inflation as he and his gang created it.
He's like a murderer telling you where he has buried the bodies, and we're supposed to thank him for giving the families some 'closure'?
I should of used the sarc. tag.
"SPELLCHECK" (t.m.) (brought to you by the Google Spelling Police Troll Project):
Q. 'COMMING'; or 'CUMMING'? How should I spell it?
We've had many questions like this; mostly from people who surf porn sites on the web more than a half-hour a day (trust us, we KNOW; thanks to our third-party agreements with the N.S.A.). Here is the OFFICIAL ANSWER:
'COMMING' is spelled 'COMING' (with ONE 'M').
'CUMMING' (well, everyone knows what THIS is, don't they?)... if one actually SEES 'it' CUMMING, there is usually a measured amount of 'BUKAKE' involved (when given the correct aspect ratio).
In the case of Greinschpawn seeing 'it' 'coming'/'comming'/'cumming', cross-references to the names Bernanke (code-name: 'Helicopter Ben Shalom'), and Yellen (code names 'Yellen the Felon', and 'Mr. Yellen') might yield the correct spelling usage.
Thank you for your question, Mr./Ms. dogfish.
Sincerely,
Bill From Bombay
A charter member of the Google Spelling Police Troll Project
Yes Ignatius that is the perfect analogy with these types. They are sociopaths who feel that WE should be grateful to THEM for their crimes against US. This kind of mentality is prolific in politicians, military, financial and the legal professions.
Why would this old fossil start telling the truth now? He's an aparatchnik for the NWO, anything he says has to be a lie. However this scenario does oddly sound completely possible to me.
Thats what you call a paradox, I think.
smell to me like deflation first.
and even USD/CHF give back allmost all the looses
Alan Greenspan. The agent of the TBTF.
Still getting attention. Still fooling the fools. Go figure!
Correct. Still singing exactly what those paying him want to hear. This time a gold miner. That way he can cash in and before he dies he has the chance to distance himself from the system he knows, will need a restart sooner or later.
"Hes a fuckhead in my book."
No, he's SIR Alan Greenspan to you!
/sarc
Exactly, a worldclass fuckhead. And the only hard assets he ought to be collecting are sized a bit above .22 inch and travel at about 4000 fps. He really should be collecting those with his big fucking talking head too. Same for the rest of his bunch.
Oh, WTF?
Fucking
Slow
Server Syndrome
I've been expecting this to happen since 2009. If anything, the reverse has happened with the dollar getting stronger and stronger. Meanwhile, oil (my principal hedge) is in the toilet. I STILL expect hyperinflation to get here eventually, so I am bearing the short term pain. But it sucks.
I'm thinking that if a Republican manages to get elected POTUS, the Fed will magically let the hyperinflation zombie roam free.
Until the glorious liberation of the people's technocratic republic of Vinland!
R.I.P. Pete Steele
R.I.P. Peter Steele
I love when this POS says anything in public......Let the vitriol begin
Alan You Suck shit & you're fooling nobody/......Where the fuck were you for three decades....
Oh yea...having a good life at the expense of others.....If there is an afterlife I hope you come back as a frog.
Die you undead MF... [or give all your ill gotten printed sheckels to the poor & live a pious life while sewing your infant foreskin biting mouth together & shutting TFU]
Alan is nothing but a wraith at this point. His mind was overcome long ago, he caried the ring for a long time. Like Gollum, he may still play a part in the coming year or so, time will tell.
Well ~ all I can say to that is that he 'looks' a bit like Gollum...
Nice rant. Felt better myself after reading it. Cheers.
I wish something besides all the BS would explode.
If inflation explodes, so does the price of PM. Like a wise man once said: "YOU CAN HAVE (ALMOST) ANYTHING, YOU JUST CAN'T HAVE EVERYTHING".
Screw you Wall St! All your Math and Physics PhD can't save you from the Laws of Math and Physics, and they're headed our way with a vengeance, akin to a "Pulp Fiction" speech.
Pack, Rack and Stack on, bitchez. Kirk out.
Does anyone still believes what he says?
At least partially. The credibility of someone who works for the Fed goes up in proportion to the years they've been retired, it appears. I'd love it if Volcker would say something fresh.
That said, if Bernanke told be the sun was shining, I'd go outside to check before I'd believe it.
Volcker went on to be on the payroll of Rothschild... NUFF SAID!
That would go far in explaining his silence, then.
I only speak the TRUTH... I let other 'emoticons' decide whether or not to use green or red arrows to judge how much TRUTH HURTS...
Thirst Mutilator
What you speak is irrelevant.
There is a huge difference between Greenspan and Volker.
And you can clearly see it, starting at Greenspan hypocrisy (double talk).
Escrava Isaura
What you write is ignorant.
There is no significant difference between Greenspan and Volker.
Volcker just came into office at a time when for once doing the expedient thing and doing the right thing mostly coincided.
If you closely read his statements made outside of the spotlights, it becomes obvious he wanted to manipulate public perception as much as Greedspam. His remarks on failing to suppress the gold price was his most striking Freudian slip.
malek
Alan Greenspan and Paul Volker were both central-bankers, it means, agents of Private Banking/Private Money.
Volcker, comparing to Greenspan, is more of a free thinker. An outsider. Volker never really believed in financial innovation, like Greenspan did, and does. And Volker made it very clear when he said: “the only useful banking innovation was the invention of the ATM."
Alan Greenspan, alongside of Rubin and Summers, were the architects of deregulation of the banks (Glass-Steagall). Keep in mind, 1920 deregulation of the banks caused 1930’s Great Depression.
Alan Greenspan talking about inflation and gold (deflation) is hogwash.
Greenspan is more dysfunctional than the Pope. He is the ultimate delusional economist because he can never admit that capitalism and private money—both in endless need of continuous growth—is is due to fail because:
a) It is always and forever an impossibility to pay down debts in a credit ‘Private’ money system. Our existing system is about 97% credit as money.
Therefore the credit as money that is created cannot return to destroy the debt instrument. It is an impossibility because the instrument’s demands have now increased in ratio relative to money in supply. — MEFOBILLS
b) We live in a finite planet
c) United States no longer has money, so borrowing money that doesn’t exist will have to stop
Escrava Isaura
Volcker, comparing to Greenspan, is more of a free thinker. An outsider.
Outside of the self-congratulating inner circle of psychopaths maybe, but still clearly within the overall group of TPTB psychopaths.
Tell me where he has spoken up against any bigger craziness after being called into Team Obama. His "Volcker Rule" is more of a figleaf than anything.
a) It is always and forever an impossibility to pay down debts in a credit ‘Private’ money system.
It is however always and forever possible to declare bankruptcy, and thereby returning and destroying the debt instrument - in a system that is not based only on lies piling onto lies.
b) We live in a finite planet
Only relevant to "thinkers" with limited abstraction abilities.
There are actually other reasons for continuous growth besides the system needing it, and that's OK and completely possible as growth is defined in market value which does not per se require linear or increasing growth in used resources to produce.
c) United States no longer has money, so borrowing money that doesn’t exist will have to stop
Totally agree.
It will stop when the masses will not swallow increasing levels of lies anymore, or with large scale war.
So, Alan, which will do better - gold or stocks?
Fuck this Chosenite kunt
Let me help you.
Fuck this arrogant jew cunt.
Mega DEFLATION on the way then.
Cheers for the heads up greenspan!
Was thinking the same thing. Time to liquidate positions, get cash fat and run for the fucking hills.
Now all we need is a WSJ (Wall-Street Jerkoff) article touting this guy's advice and the unholy trinity of fleecing will be complete.
Deflation it will be; when the next crisis occurs.
Too much debt in the system. Chain-reaction defaults will obliterate all that debt that's held on the books as an "asset."
Just like 2008 on steroids: deflation is the Destroyer of Worlds...
Deflation is a symptom, not the illness. Most "experts" assume it is the other way around.
Wait a second, what happened to good old irrational exuberance?
At his age, I'm afraid it's turned to "A rash in his rubber pants"......
Old farts like Greasepan never go away. This asshole was a master bubble blower, he would have people believe he is some sort of genius for printing money.
We have a growing debt that can not be repaid!
FUBAR!
The debt can and will be repaid. The printing press will run and pay off all that debt and trillions and quadrillions more even.
The dollar will die as they do but the govt debt at least will be repaid. That you can be assured of. The value real value of the repayment is what's up for debate. My guess is it is worth zero.
What if I 'Go Jew' ?
If I 'Go Jew' will I be protected from all the fallout when GreenSpam's prophecy comes true?
I could learn to like lox and bagels. NOT!
Thems tasty eats and I will buy what Greenspan is cooking.
Whenever Woody Allen's dad opens his mouth he ought to do everyone a favour and wear the old Groucho mask......
Alans' no longer relevant, I tuned him out in favor of a dovish talking Yellen.
Man a new gem from 'Ol Al almost daily! One foot in the ground and suddenly he wants to shout ICEBERG!
That old fuck is losing his mind. Probably calls his kids five times a day for help with the TV remote.
Hate those damn remotes.
Chauncey Fucking Gardener probably told him there would be "Growth in the Spring" over tea...
Probably calls his kids five times a day on his TV remote.
Just give every everyone in the country a trillion dollar coin - problem solved.
We can even have China mint them for us out of scrap metal so the cost will be low.
briefly skimmed it, but... from what I can tell a guy selling gold has a private conversation with some notable asshole and that private conversation is now being used to sell gold?
Not down on gold here, but what a fucking huckster effort.
I don't see massive inflation coming for the simple reason that all the free borrowed money as well as the bulk of income and gains in income are going to the top layer which is more intent on buying assets rather than spending at the super market.
When people don't have jobs or jobs that pay well its hard to see an explosion in prices.
Say what? I'm no historian, but I don't seem to recall a booming economy in Zimbabwe in the late '90s. Unless you're using stock markets as a gauge, in which case... yikes!
And when that top 0.01% flush that cash into harder assets like commodities, what happens? Throw a trillion at corn and wheat and half the country will starve when their EBT won't cover the buns on a burger, let alone the "beef."
The inflation will get triggered upstream. Also note at it's core, it's people getting out of dollars an into something better -- that's a hallmark of hyperinflation, not conventional inflation.
I'm no expert, by any means... But if I add $3T of excess reserves on the Fed's balance sheet, to the impending "people getting out of dollars and into something better" crowd, then I see many more trillions of excess liquidity flooding the market. A perfect storm of conventional and hyper-inflation... I'm fairly certain that "something better" will not be another fiat currency. But again, I'm no expert.
"Alan, come clean publicly or so help me God you'll never get another 'special treat' as long as you live."
– Andrea Mitchell
At least the US government will not collapse as Russia's inevitably will. How about writing an article about the impending collapse of Russia? Or are you too biased? Over the next decade the US will be in much better shape than just about every other developed economy out there, even with inflation. So suck it Zero.
Blah blah blah blah.. Y'know, the Ruble COULD collapse, if tax revenues decline much lower due to commodity prices, BUT:
Russia has resources.
Russia has resources.
Russia has resources.
Also, Russia has a grim history of repeatedly getting shafted, and seeing major volatility, and guess what? They're still here. The biggest things Russians should fear is political risk. Other than that, the future looks bright for them at some point in the future.
The rest of us? Meh.. I don't think it will turn out so well in the long-run. Your average Western European is so hopelessly dependent on the system that they are literally complicit in their own demise. Your average American cannot go more than an hour without using their smartphones, ordering Starbucks or stuffing their faces with high-fructose syrup laden, super-caloric frankenfoods.
If the rug gets pulled out from under the West, it is going to be an awful time. Russia (and China) have seen mass executions, political upheavals, civil unrest, starvation, mad dictators. The people have perservered. Say anything you like about the culture, politics, etc. of those nations, I have to respect the hell out of people who collectively have taken in on the chin more times in the last hundred years than I can count, and keep moving forward.
Granted, it is not as recent, but we did survive the Civil War that cost 600,000 American soldiers, sailors and Marines their lives, mostly from disease and infections, from a far smaller population base. In 1860 the US population was 31 million. On an equivalent per capita basis, that would equate to roughly 6 million KIA today.
The Civil War is still very much alive in the people's memories, the descendants of those who fought, died, were wounded and / or maimed for life, and / or lived where the war was waged, such as the Shenandoah Valley, Georgia, etc. It does vary greatly by region, of course.
I have traveled on business to small New England towns and then wandered around the town centers in the evenings. Their monuments to their Civil War residents killed in action, are listed by name and are far more numerous than imagnable for such small towns, makes one pray war never comes to the United States again. Thinking about it fills me with dread. There is no such person as the "Glorious Dead". Horribly dead. Gruesomely dead. Yeah, maybe.
I am not anti-military, unpatriotic or such as that. I am a former US Marine and I grew up in the US Military, as my father was career US Military. I am a realist and I greatly resent Chicken Hawks always wanting to solve problems using the lives of our troops.
4 Years, 30 Weeks and never saw a post from you until today.
Dubrunna = Sleeper Cell?
5 years on Gold. Hmm
he knows nothing /cramer
Green eggs and spam tells us in five years gold will be "measurably higher" whatever that means, and then riots.
Funny that, guys have been saying this same shit for years, and yet here we are.
Meh
Is Greenpuke still pushing adjustable rate mortgages?
Somones will get cruise missiles up their asses before USSA's COL quadruples. Seriously!
So, why has this fossilized imbecile suddenly emerged from seclusion to warn us of impending doom?
Does he honestly believe that he will have a good legacy? He's the architect of the economic wreckage plaguing the U.S. economy and much of the world.
When the U.S. Dollar implodes, Greenspan and his successors at the Federal Reserve will be viewed by the public as criminals.
Maybe the weight of staring St Peter in the eyes soon is making him feel like he needs to warn everyone as some sort of open confessional?
His conscience must be getting to him << if he has one.
What do you mean "will be"?
Maybe he's testing the waters for his upcoming financial neswletter?
lol
If you had Andrea Mitchell waiting for you at home you'd find a reason to do something else too!
Your Future Depends on Buying Physical Gold & Silver!
http://www.jcls-forex.com/gold-and-silver/
Marry me Alan
This Greenspan video at the Council on Foreign Relations was worth the watch. https://www.youtube.com/watch?v=_mmL8X_2Ces
I like how Greenspan basically says to cure the ills of the banking system they need to cover their own bets (base capital requirements).
Nice job Alan, pat yourself on the back for fucking up the planet.
Is this the same guy who daid NASDAQ 5000 might not be a bubble because of all the productivity introduced by the intertubes?
Is this the same guy who daid NASDAQ 5000 might not be a bubble because of all the productivity introduced by the intertubes?
In a just world, Greenscam would be stripped of his assets and put behind bars for continuing to profit from his past crimes.
Of course. it''s not a just world.
Gas and ground beef will be 10 bucks a gallon/pound. We gone!
Later those prices will seem like a dream.....
Why is this cunt seemingly everywhere at the moment. It's like he's organizing his alibi.
"I know I was instrumental in setting all of these policies in motion, but I warned you 10 years after the fact....so please don't kill me"
Fuck you Alan. In the ass. With a coat hangar.
RealCheque - Of course he is. Sandy Weill, Robert Rubin, and Larry Summers did thweir mea culpa's about 1 year ago. They have gone underground ever since.
Greenspan is just not as wealthy, and as an ex Fed Chair w/ a wife working in TeeVee, can't dissappear into the Ozarks. Greenspan is also tryng to stay one step ahead of Bernanke, who has been very quiet on the lecture circuit.
Yellen is still relatively clueles, but when ex Bank of Isreal, present Vice Chair of Fed, Stan Fischer resigns from the Fed and dissappears... the gig is up.
Show business is good work if you can get it.
So what's it going to be deflation,or inflation.
O.W.
deflation before inflation.
just look at the 3 or 4 countries with negative interest rates.
here is why.
http://michaelekelley.com/2015/02/11/fed-inflation-target-is-abnormal/
here is how to prepare
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
thanks
>>>
...they [gold price] can’t go much lower than this because we’re right around the all-in cost of production…
<<<
Doesn't matter what the product is, if more people want to sell than buy then the price goes down, and _it is irrelevant if that price is close to, above, __or below__ the cost of production_.
The only consequence is to a producer: if the price stays below his cost of production for long enough, he goes bust.
Watson
Inflation has to arrive sometime...just like everybody dies someday.
Ok, so the government must be fleshing out its gold confiscation scheme for old Al to want us all to rush out and buy a barbarous relic.
Why are we listening to Alan Greenspan again?
inflation? really? the masses are broke.
so prices will inflate because there will be less demand/
hurry up and die greenspan
Inflation is only for the superrich: Manhattan condos, luxury cars, yachts, private jets. The wages for the average have been flat, how could prices go up?
Prices would go up for commodities, everything else being held equal, if USD 3 trillion were suddenly dumped into the foreign exchange markets. That would be a sudden supply shock and the FX market response across most currencies would be a devaluation of the dollar.
How much the devaluation would be is a good question. Other Central Banks with large USD reserves (e.g., China) would face a great dilemma:
1) Sell some or all of their US dollar reserves, and/or including US Treasury paper, and drive the dollar's value even lower with respect to their currency? That action would suddenly and drastically reduce their exports to the US and make US products much more affordable to import; or
2) Buy more US dollars, and/or including US Treasury paper, even if it means printing more of their own currency, to maintain their currencies value vis-a-vis the US dollar within its "normal" trading range? On a bilateral basis, they might hope to avoid a tremendous shock to their own imports / exports between their economy and the US, but it's a multilateral world; or
3) Coordinate buying US dollars, and/or US Treasury paper, with other G20 Central Banks to prevent a massive FX market shock and following effects on global imports / exports? or
4) Do nothing? Then what? Watch the world descend into chaos and war?
I do not think any rational person, recognizing that many sociopaths and/or psychopaths in positions of influence and/or power are not rational, wants to see chaos and war anywere and certainly not right on their doorsteps. The world economy is a very complex system made even more complex by the complete abandonment of any limitations on Nation-States abilities to create currency's from nothing.
The world's financial system could be compared physically to a suspension bridge spanning, say, the Atlantic Ocean, with tens of thousands of steel wire suspension cables suspended from thousands of towers either driven into or anchored to the sea floor. There are no redundant cables, floating towers or towers driven into the sea floor. The failure of any physical element will cause the bridge's collapse into the ocean, carrying with it any traffic being carried by the failed span(s). But, the bridge was designed by Economists not by Engineers and Architects using the laws of physics and the known properties of materials, including strength in tension, sheer and compression, corrosion, fatigue, design loads and ultimate loads imposed by worst case traffic and worst case weather conditions with a design life of two hundred years and regular maintenance.
Now, the question for you is, "Would you drive on that bridge designed by Economists?"
I would not. Nor would I allow even my worst enemy to drive on it without at least a stern warning. I would not invest in a project like that either. The probability is that it would fail long before even partial completion. In consideration of the lives of the workers I would try to prevent them from even working on the Economist's bridge.
When the world's global trade, was at least mostly, between countries whose currencies were backed, to some extent by gold, the size of a credit bubble and the damage done by the subsequent bust was physically limited. Now there is no limitation on the size of bubbles. There are now complex, poorly understood, and mostly unregulated financial "products" that didn't even exist in the era of real money, that is a currency partially or completely backed by precious metal(s), or even 20 years ago (e.g., Credit Default Swaps invented 1994 by Blythe Masters at JPMorgan. Okay, 21 years ago.).
US TBTF banks are exposed to USD hundreds of trillions in CDSs. Internationally, the total exposure of TBTF banks is similarly enormous. At end of June 2012 the total gross amount of outstanding CDS's was a little over USD 1,187.3 trillions! Yes, that's not a typo! Over USD one quadrillions gross total!
But, defenders of such financial exotica say, "But, that's the gross value, the notional value is far less in aggregate." Which is true in normal times.
But, in the event of an exogenous shock to the financial system, can anyone say with any degree of certainty or safety, after all a system failure could adversely affect the lives of hundreds of millions of people world-wide, that the system will continue to function?
How much counterparty risk is there? How much quality collateral Really exists as opposed to having been sold and/or rehypothecated* any number of times? Many non-Chinese financial institutions are now discovering these non-existent or multiply rehypothecated collateral situation to their great chagrin in China.
*Rehypothecated--I just love that word. It sounds so mystical (at least in English). If you or I did that with our collateral pledged against a loan for a few thousand USD we might ultimately find ourselves imprisoned. But, the REALLY BIG criminals in positions as CEOs, CIOs, COOs, et. al., heading big corporations, banks, etc., do it with impunity for apparently unlimited amounts of money.
As knowledge of these unpunished and greatly rewarded criminal activities, make no mistake here, the general population view non-existent loan collateral to be a serious criminal act, spread among the general population, the faster any respect for The Rule of Law will evaporate. Following some small tipping point, the Elites will awake to a general populace with no respect for them or the laws that protects the Elites from them. The Elites will even find Law Enforcement Officers standing by, doing nothing to help them, when the mobs come for them.
In the final period of the Roman Empire's decline, the Praetorian Guard, the only armed Legionary unit allowed within Rome, dedicated to the protection of the Emperor, deposed several Emperors, in a terminal manner, and auctioned off the honor of being the next Emperor to the highest bidder.
But, the Elites, including the Elites within the Deep State, will be caught unprepared due to their own normalcy biases, when everyone, including their bodyguards, turn against them. Irony, Nemesis' sister, is a bitch, too.
Does the Gold:Silver ratio point to the better precious metal speculation?
go to URL
http://stockcharts.com/h-sc/ui?s=%24gold%3A%24silver
silver doesn't appear to making it into the fear trade, gold just keeps rising in the ratio^^^
I really can't imagine anyone would ever listen to this guy again
just let me beat the evil old zionist to death with one of my silver kilo bars in each hand, & yes i'd leave his chosenite's blood on them as their value would go parabolical, to know that he got PM'd good. Fcuk GreenSpank, he's murdered millions with his monetary mockery in his time
Please leave your irrational prejudices at home. They detract from any value your comment might otherwise have.
What would be the impetus for the Fed. to release all those excess reserves? Aren't most of those excess reserves borrowed and levered to the hilt by big banksters?
I have got one name for everyone to look up;
Brooksley Born
Got that right. In fact, one of the very best Frontline broadcasts was centered on her:
http://www.pbs.org/wgbh/pages/frontline/warning/view/
Quadroupling of the cost of living would mean gold should be (at least) 400% higher and the average salary will have the purchasing power of a 2nd world developing nation. So, protect thyself.
This is what that Russian economist predicted for America some 6-7 years ago. Except he only predicted the standard of living would be cut in half and the USA would be the first de-developed nation, breaking up into 5 parts. Looks like he was not only first, he was right. But on the optomistic side!
And tomorrow, he'll say the exact opposite
Maybe, someone could "light a fire" under Greenie to get this tinderbox ignited...You too Ben, you are a cocksucker of equal hypocrisy
Old dinosaur fuck...fucking hypocrite bastard, fuck off you fucking mr magoo douche
If you agree, here is how to prepare.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Thanks
Don't listen to Greenspan. Globalists aren't long for this world.
Stop whoring for Wall Street.
http://www.showrealhist.com/yTRIAL.html
http://patrick.net/?p=1223928
For the millions that broke now, 'quadruple living expenses' = DEATH.
Save the children, we need the guns!
His head is an irrational protuberance
Cockroach
Fuck you Greenspawn, you filthy market manipulating cocksucker. It's ass wipes like you that got us where we are. Rot in hell you fuckwad. There...I feel better.
A little bit like Dickens' Mr. Micawber int he? You remember David Copperfield's good friend Wilkins Micawber.
Greenspan now can say "Fed chief who raises margin rates and interest rates at the first sign of a bubble, result happy citizens.
Fed chief who makes speech at American Enterprise Institute asserting that a bubble is at large but lets bubble burst 3 years later when all the institutions sell at 5000 leaving the margin players weeping, result desolate citizens."
I think what he's saying is to Long stocks. How pathetic he's. Last time his advice was to go zero down ARM surprime for those just stupid/ignorant home buyers. Welcome to the land of fraud, home of fees.
Greenspan is a living symbol of everything that is wrong with Amerika.
Another insider trying to cover his ass. Just in case.
This Debtmobile we're all riding in is so fucked up there's no telling which part will blow up next and kill us all.
I have my window open and I'm hoping to get flung clear when this bitch flips and rolls.
I'm as ready as I'll ever be so I'm just sitting back and enjoying the scenery going by.
Oh, and FUCK YOU Bubbles Greenspan. You taught these pricks how to destroy our money.
The masses don't have the money to make inflation. Maybe in Mercedes or Rolls Royce.
Gee what kind of positive news do you expect from site called SHTFPlan.com
Let me guess they sell 'bug out' kits....
Greenspan is John Galt
"Something big is coming." Alan Greenspan
Something big is already here, you assclown, Greenspan. It's called
the Greenspan largesse BUBBLE that has been inflated for 40 years
by the Greenspan(tm) "put", motherfucker!
Tuesday March 10th 2015<------------>March 10th 2008 = 7 years.
It's PAYDAY, Greenspan.
:|
ZWO tool - he believes what they tell him to believe
Alan hope you vapor lock out of this reality but know this, we will find and make sure any of your offspring are thoroughly impoverished as in, we take everything they have using of course the "new" law. Out on the street they will go to subsist in the reality you helped create. You have to see the irony in that. You created this massive theft via the "law" and the retribution will come with the new "law" built on your corpse and your based on your past transgressions. It is only "fair".
Alan is actually Mr. 6
http://www.tvacres.com/admascots_mr_six.htm
And to think the bernak "had" to raise interest rates 17 times in a row without so much as a single pause in between to let the markets catch their breath (so he could prick the bubble gspan created) makes me think these academics have a mandate all their own. A directive if you will. Aint usury great? the business cycle is real or contrived?
Come on Alan --- tell us what is really driving all these policies --- come clean:
YOU KNOW THIS IS THE PROBLEM:
THE PERFECT STORM (see p. 59 onwards)
The economy is a surplus energy equation, not a monetary one, and growth in output (and in the global population) since the Industrial Revolution has resulted from the harnessing of ever-greater quantities of energy. But the critical relationship between energy production and the energy cost of extraction is now deteriorating so rapidly that the economy as we have known it for more than two centuries is beginning to unravel. http://ftalphaville.ft.com/files/2013/01/Perfect-Storm-LR.pdf
Just go away, a day late and a 'dollar' short.
This is typical ZH. There is a quote from Alan G yet nowhere in the video does he speak. It is just some guy paraphasing an alleged conversation.
Oh, and the interviewer is vision victory that Charlatain from Inflation.US that was frontrunning purchases in 2010/2011,and had the head of the company filmed in a suit holding a cat as if he was Speckor from the Bond movies. I cannot erase that video from my memory.
Why should anyone listen to Greenspan's predictions? The collapse will be highly deflationary. Massive numbers of bankruptcies always are.