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Martin Armstrong Warns Of The Coming Crash Of All Crashes
Submitted by Martin Armstrong via Armstrong Economics,
Why are governments rushing to eliminate cash?
During previous recoveries following the recessionary declines, the central banks were able to build up their credibility and ammunition so to speak by raising interest rates during the recovery. This time, ever since we began moving toward Transactional Banking with the repeal of Glass Steagall in 1999, banks have looked at profits rather than their role within the economic landscape.
They shifted to structuring products and no longer was there any relationship with the client. This reduced capital formation for it has been followed by rising unemployment among the youth and/or their inability to find jobs within their fields of study. The VELOCITY of money peaked with our Economic Confidence Model 1998.55 turning point from which we warned of the pending crash in Russia.
The damage inflicted with the collapse of Russia and the implosion of Long-Term Capital Management in the end of 1998, has demonstrated that the VELOCITY of money has continued to decline.
There has been no long-term recovery. This current mild recovery in the USA has been shallow at best and as the rest of the world declines still from the 2007.15 high with a target low in 2020, the Federal Reserve has been unable to raise interest rates sufficiently to demonstrate any recovery for the spreads at the banks between bid and ask for money is also at historical highs. Banks will give secured car loans at around 4% while their cost of funds is really 0%. This is the widest spread between bid and ask since the Panic of 1899.
We face a frightening collapse in the VELOCITY of money and all this talk of eliminating cash is in part due to the rising hoarding of cash by households both in the USA and Europe.
This is a major problem for the central banks have also lost control of the ability to stimulate anything.The loss of traditional stimulus ability by the central banks is now threatening the nationalization of banks be it directly, or indirectly.
We face a cliff that government refuses to acknowledge and their solution will be to grab more power – never reform.
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I wouldn't say that they're useless, becuase they are just another indicator that the system is breaking down. But yeah, beyond that, they don't give you meaningful information for what is going to happen when.
The system finally breaks when they ban non-bank money.
As a coincident indicator to the long running gripe that the dollar has lost 98% of its purchasing power since the introduction of the FED - it's amusing to look at the volume of FED clearing in relation to GDP (which would actually be closer that "speed" thing that trips up the sheeple). Coincidentally, only about 2% of transactions that the FED clears add anything to GDP, ergo 98% of transactions do NOT generate any real economic activity or benefit (as BLS'd by GDP). Going all the way back to 1913 wouldn't yield anywhere near perfect correlation because the correlation between purchasing power to the deliberate (often unnecessary) intermediation of financial institutions in economic transactions is not perfect.
However, once financial institution intermediation reaches a 100% you have either a divide by zero error or ? (infinity, in case the unicode doesn't work), either way, mathematical certainty of having reached full retard.
He say some smart things, however I always feel like I'm listing to an x con trying to fleece me.......
He always uses the come on like this...
"Martin because you called the top in gold and the bottom in stcks and due to the fact that your computer AI system can read peoles mind, what do you predict will happen to oil?"
It always seems that he is talking to himself......
Yeah, but when someone makes the calls he made (years out, and to the day), you have to respect that.
I'm in the same boat as most when it comes to being skeptical about MA, but it is what it is.
not so sure about the ex part.
I go to his site everyday because of the collection of other site links it has.
I have read several of his articles in the past few months, and can solidly say that he really does not have a clue. Not that I disagree with him, but that his views seem unreal and unsubstantiated.
At least one of the articles was an amalgamation of two others from elsewhere, not plagiarism, but obviously motivated by those two and then something with a different conclusion was written. Others seemed to be "me too" pieces that also took an unsubstantiated contrarian view.
My favorite was a piece that stated that inflation is not what is headed our way. I don't agree, but I like opposing views. However, he just goes on cherry picking events from history, some of which have little to nothing to do with his conclusion, to show that inflation is not the coming problem. He didn't actually discuss inflation or its causes at all, just cherry picked historical events. LOL.
Beyond that, I know nothing about his so-called "system," but I have become wary.
Liberty is a demand. Tyranny is submission..
the reason .gov is cracking down on cash is the for the missed tax revenue. the other reason is digital money is much more easy to track and therefore manipulate more accurately, risk reduction. a totally digital one currency world is utopia.
The real reason is to compel people to store their surplus funds electronically.
Then, you will have to pay a storage tax. Like 1% per year and then more.
Cash will always be available to the Government and the well-connected.
As long at they call them "Quatloos."
Just so we know where we stand.
Trying to use my imagination for a minute to come up with possible reasons for cashless society.
- Power, Control, Monitoring, Tracking, Spying, reduction of illegal activity, reducing terrorism
- Bank Bailouts, Corporate Bailouts, Federal Govt Bailouts
- Reduce Black Markets, Labor Market, Dangerous Purchases
- Reduce Sedition, Plots Against any part of the Banking-Government System
- Eliminate States Rights to Coin, use Silver Coins
- Eliminate efforts of States to Secede
Those seems like the Major ones
- Banks regularly get caught laundering Drug Money, so that is not likely to change
- Wealthy people have Trust Funds, Funds off Shore, Funds in Tax Havens, and Compensation that goes straight to Tax Havens, Wealthy People can live off the Grid of Bailouts, New Taxes or Government Penalties
For the laundering of drug money, this isn't going to work for street level dealers. They still need a physical and anonymous medium of exchange. This is about NIRP.
Well like a 911 or Pearl Harbor type event, it suits many people with many purposes. Who is the Target? Many people, but not the Powerful or Wealthy.
Lockdown is what we are talking about. This is the next level up from Domestic Spying. Lockdown. This ensures the Longevity of the Strong Central Government & their Enormous Military-Security Spending & Superpower Foreign Policy of Policing the World... in the face of Rising Debt, Conservative Concern, Voter Awareness of the Gaming of the Federal Government by Outside Forces.
I think there are usually about 6 different powerful groups that get behind any big change like this.
- Pentagon, who would be worried about their budget
- Spy Agencies & Defense Contractors
- Big Oil, Big Construction, Big Engineering who need DoD
- Internationalists, Globalist, who need DoD & Fed Support for Treaties
- NATO, Europe, UK, who have Financial & Military Links
- US Think Tanks, US Foundations, EU Foundations
- The "Corporatocracy" who rely on Corporate Welfare, Contracts, Federal Guarantees, Support for Liberal Business practices, the Chamber of Commerce
But you could be right.
All of the stuff that you mentioned depends on a functioning monetary system, and at the next financial crisis, NIRP and actually getting the FRNs to the "consumers" will be the only tools at their disposal. Military spending, spy agencies, big oil, globalism, etc... all depend on the USD functioning right now, and the Fed has shot its wad. It is going to lose control, and this is just part of banker desperation at being knocked down from the top of society. At some point, we're going to have to kill some folks when this finally blows up, because the alternative will be letting the same criminal bunch that we let get us into this mess get us out of it, which they won't. This is not the future for myself that I had envisioned when I was a teenager, but the sooner we accept this, the better off we'll be.
So please, if you haven't already, plant a garden. Supply chains are going to break when this goes down, and you want to be logistically prepared to live with an unreliable grid at best.
Interesting perspective about getting money to consumers... and what few tools they will have.
People are very emotional about not getting the things that they expect. I can't imagine cuts to military budgets as much as maybe a WWIII with a Draft, Nationalization of Industries, massive migration, a nation under war. I mean I expect them to continue to operate ports as well as they can and distribute EBT Cards... while many youths are forced to go to war and be sent away from home.
The Liberal Neocons would want to continue to be world military powers, so a Draft would save money and keep the young people busy.
Thanks for the Honest advice on a Garden. Had some troubles with not enough sunlight where I am. Hydroponics might be better for me. And thought about canning and raising rabbits in the basement. rabbits & Guinea Pigs are the cleanest animals, just they are harder to kill since they are cute. Feed might require some work.
Then again it would be nice to sell out and move to a different location.
Conventional wisdom is not what we seek on ZH. But the meme is that the stock market & USD will continue along with a standard inflation rate. People all around us keep working, spending, adding debt.
I could easily see a world depression even if we don't go to WWIII. I could see a struggle with food distribution and run-away prices for food. a 30% loss in buying power is much worse if you don't have life's Essentials.
Really hard to know what to expect other than high crime, frequent bushwhacking of everyday people.
Chaos is what I expect, and that's unpredictable.
I'm desperately trying to get more people to start raising their own food. In one of my interactions with a different online community, a guy I know who is moving up from a town in southern NM said that he was jealous because his current home doesn't have enough room for a garden. I told him that I'd give him some seed when he moves up here. It turns out that in the particular online community, everybody is now talking about how their gardens are getting planted, and another this morning said that she was supposed to laying hers out today, except that a freak snow storm blew in this morning. It's spreading. People either don't trust the stability of the system, or they don't trust the food itself anymore. This community is VERY diverse and has nothing to do with gardening. We are witnessing a mass awakening of the populace, though it may be too late.
Aaaaand I just thought of another crop to add. Barley. I think it would be pretty sweet to make beer with ingredients that I grew myself.
Barley is great in soups and stews.
Have seen some property on the Net for New Mexico and south west. Hate the Subdivisions of course as they are expensive and hoping for monthly fees or association fees... or others to help defray the cost of laying in roads, sewage, electric, water or what have you.
SW seems patchy if water is a problem. I guess some have to haul up water for cattle, then figure how to heat the water in winter maybe. NM might get more than one growing season, so if you have good soil and water... I guess it is good.
Without barley there'd be no single malt whisky and that will become one of the most tradable items around when this crash finally happens. Trouble is you need many years in a good barrel to get the quality most want from their whisky.
If you have family in a rural county, prepare to go there. Bring something usefull so the county leaders will let you in. Best advice I can give.
While government tracking and taxing is something that the government likes, the main reason for the war on cash is to make NIRP viable. This is a banker thing first, and a government thing second. Besides, things will break in the US if we really go to 100% cashless society. There are a lot of foreign held FRNs that would suddenly become worthless (that has the potential to royally fuck up supply chains,) and there are a lot of people who would be shut out from daily life all together. A 100% cashless society is a move of pure desperation.
One day don't know how long ago, I had CNBS on watching the quotron. Anyway, another awakened friend had it on also. Don't know who the guest was, but both of us caught his statement.
He had lots of single dollars. Uno dollar bills.
Don't know how that plays out as I've heard rumors, but he said it for a reason.
Because whatever the lowest denomination bill you have is what something will cost you maybe.
I have a lot of singles,fives,tens and twentys,not hundreds in my cash stash.
Think about it.
Fuck them, they can crack down all they want, it won't help them. We aren't going cashless, and TPTB are rapidly losing control over the economy and currency, as well as seeing tax receipts declining.
Cashless is nothing but an elitist wet-dream. The closest they'll get is a devalued new currency, but it will continue to be printed until it is valueless, which will be shortly after its introduction.
So what are the units on the "velocity" chart? When I last attended physics classes, "velocity" was a vector quantity with dimensions distance /time. Like 120 mph due south east. How can dollars have a velocity under that definition? Is that the speed and direction with which you hand me a dollar?
Fucking ignoramus economists.
MV : change of GDP growth/change of M2 growth. Delta GDP/Delta M2 is slope of curve.
If MV negative it means moar incremental money over time generates less and less real growth. We are in a money bubble that feeds the other bigger bubble : the asset bubble.
MV is dimensionless according to your definition so it cannot be a velocity.
GDP is dollars per year. M2 is just dollars. So dimiensions are per year. It's the number of times each year that an M2 dollar is spent in the GDP. GDP curently about $16 tr/yr. M2 about $11tr so MV = 16/11 i.e about 1.5 times per year, as per above chart.
OK - makes sense. Then it is a fractional turnover. But still not a velocity.
MV is not the number of times each year that a dollar is "spent in the GDP" (whatever that is).
MV = GDP/M , there's no "times" or "spending" and MV is not a discussion of the quantity theory of money.
That is some concrete thinking you got there, you must be an ME, worst thinkers on the planet American ME's..
ME?
http://www.abbreviations.com/ME
.
EXACTLY.
Congratulations. You might be about the few people in the universe, actually capable of understanding ECON101, instead of just passing it.
All you have to do is Google it here : http://en.wikipedia.org/wiki/Velocity_of_money
And the correct defintion is : VM = Delta GDP x T / Delta M2
(where T is the timeframe which measures the ratio of both changes). So it is a velocity according to this definition.
No, it's not a velocity, except in name. Move from macro to micro and divide a corporation's revenue by assets... it's a measure of efficiency. Different individual dollars, and different components of the various measures of the money supply all have different turnover. Turnover is a velocity.
BTW - Wikipedia... WTF? You didn't just fall off the turnip truck and land at ZH... If you had clicked my link, you would have seen that it DISPROVED (2nd half of that relatively long post) the very first sentence in the Wikipedia entry. This is an issue that befuddels people with PhDs in mathematical economics, the Jimmy Wales misinformation crew can't add to the debate.
and that is why engineers(science in general) and business majors have difficulty with their econ101 classes and why math majors are recruited into economics. economics is a virtual science. it exists only as concepts backed by numbers representing real data being told what to do instead of what it will do naturally. modern economics has been bastardized as fact but it only really reflects fiat fractional reserve banking. the study of economics is only now grudgingly admitting that it is really a study of psychology in a specific behavior parameter.
I'm starting to really respect Nate Hagen's conception of economics. Seems like he has identified some of the critical failures and is putting the pieces in place for a system more consistant with nature and resource limits:
https://www.youtube.com/watch?v=ZZ055LzK86Q&feature=youtu.be
Reminds me a bit of what Prof. Bartlett's kid might have been like if his mission was to reform economics.
Professor Bartlett , RIP, was one of the Great Minds of Our Times, and anyone does well to study his work........
Illuminating and Enlightening......
I will review "Kid Nate"..........
Besides that the data/numbers are fudged. Garbage in = Garbage out. No high level math can change that.
And when the data isn't fudged, the definitions are. We are being lied to on a massive scale.
And it's not even a scientific study at that. Economists expect the real world to conform to their models when it is the models that should conform to the real world. They put the horse before the cart. It is pseudoscience.
I don't trust him.
Fuck digital and fuck anyone who suggest it. Fuck FIAT and fuck Government.
Use condom. For obvious reasons...
C'mon Mart cut the crap and give us the price prediction for gold next month from your Commodore C64 dot matrix printer.
By definition silver and gold coins are cash par excellence. Not all cash is created equally.
Yea
If you hold FRNs, you have a claim on the central bank. If FRNs are outlawed, you will be an unsecured creditor of your local bank. Your "money" will be digits on a computer, easily "bailed in" (stolen) from you without the need to come to your house and look under your mattress.
"...... banks have looked at profits rather than their role within the economic landscape."
Banks are companies which were designed to make profit, not because they should have a role in the economic landscape.
just like the CocaCola company.
BTW What is an economic .... landscape ?
The problem with banks is that they can't go broke because of the central bank system.
They are very much tied to the FED. Every bank is tied to the FED. So there is no competition between banks and so there is no free market. There is the monopoly of the central bank.
Thats the problem, which causes that the banks do other things than serving the client....in the landscape
And, yet, they're still pushing another job-destroying trade treaty. Won't tax the rich, won't stop grinding working people into dust, WTF do they expect?
Just open season of looting is all.
I've spent the last month talking with my snow bird clients before they go to the four winds.
All of them ,from the multi billionairs down to the mere multi millionaires, are singing the same tune.
The whole shebang is coming down within six months.
Not one dissenting voice amongst them.Canadians,Danes,S.Africans and Americans.
Well we have had open season looting by bankers, so perhaps you mean the poor will join in within 6 months when we hit a Wall.
Liquidity must come from by not be limited to;
- Manufacturing, Sales & Building Inventory
- Velocity of Money
- QE & Corporate Bailouts
- New Commercial Bank Loans
- Federal Spending, Fiscal Policy
Raising Interest Rates may or may not reduce Fiscal Policy (Federal Spending)... have a negative effect
If Monetary Policy & Fiscal Policy come to an End and there are fewer Bank Loans... and are unable to make sub-prime loans... that would be the "Wall".
To quote the wicked witch of the north;
'what difference,at this point, does it make".
I'm just the messenger.I've known a lot of these clients a long time, their kids,at least,
consider us as family. We are not the only ones prepping, and their sources are better than any of ours,
and thats the timeline being relayed to me.
Do with it as you will.
Yeah I have my many tangents. Thanks for the info.
I just picked up some more IMR 4064 yesterday for some 30-06 goodness. I'm going to be getting even more seed within the next week. I have food needs covered with seed, so aside from adding interesting new things and maintaining genetic diversity, I'm looking at things like wild dagga and mormon tea. If your clients are correct, I want to be the guy that nobody wants to kill because I know shit and I also shoot back.
How are they prepping and where are they planning to ride out the storm? (in general, not specifics unless you are at liberty to divulge, not that it'll make a difference or be traceable). I'm always interested in what other people are doing and this is an interesting demographic as well, since a lot of them are so invested in the system.
^^what he said.
I know the poor folk are storing food, ammo, and silver.
What are the rich doing? Are they hoarding cash or buying assets? Private islands run on solar in the Carribbean? Do tell.
I've been reading this website since 2009 and I would like another prepping idea beyond "buy gold and have a boating accident".
No one answer.
Ones been buying a lot of gold steadily trying not to move the market.
One said they might buy Cuba.Not sure if thats a joke or not, as they prolly could
afford it.Another just bought a farm in NZ.
All of them buying fine art, and not the crap at that Sotherby's auction.Real art.
Al out of the stawk market now, trying to get rid of cash as quick as possible.
Thank you for the reply.
So basically, billionaires buy gold bars and have yachting accidents, while zero hedgers buy gold coins and have boating accidents.
Not sure ships over 150ft are yachts, but yes.
The one point I will add to this is that the whole system has, for a long time, rested upon extraordinary and generally illegal and immoral efforts to sustain the facade. Once the sustainers stop making those efforts, the scenario begins to play out naturally.
Rather than keep the scheme alive, they are now quietly cashing out their "winnings" and making an early getaway before the collapse become generally recognized.
I'm not a billionaire, or even a millionaire, but the things I have done to get ready for this obviously foreseeable event may mean that I will end up as the new equivalent thereof. At least I hipe to die honorably free in any event.
May God run with you all.
i's lookins fer greetin jobs ats walmirts.
That's malmints, wormmarts, malwarts ... whatever ... it's all good!
Military Assistant jobs at (closed) Wal-Matz will pay moar than Greeter jobz.
We face a cliff that government refuses to acknowledge
Dude, gov acknowledged it in 2008. Banksters told the 93 IQ bush baby that ATMs would not work within 12 hours and that Marshall law would have to be called within 24 hours. Politicians conspired with the FED to cut the banksters a check. Then they printed for 7 years as they built up an internal military, weaponized the police, began collecting all data, hired Cheney's Haliburton to build FEMA camps and began military exercise to infiltrate and take on the US population. In the meantime they sent the young an old into colleges (put academia into a trance so they wouldn't get any shit out of them) and paid the poor people so as to avoid a revolution until they were ready for it.
That's exactly what happened and now they are bout ready to start the slaughter.
Banksters: the worst vermin that crawled across the planet.
Had the same problem on Q99X2. We exterminated them as you will end up doing. But beware those demons have the ability to annihilate the world during retreat.
This is your best post since I have been at ZeroHedge.
...and the dialogue might constitute one of the best threads that I have read here.
Martial Law vs. Marshall Law
I find it interesting that mistake gets made often. It is such a common mistake that Bing's "Marshall Law" first result is "Martial Law." As well, the first thing that the Google asks is "Did you mean martial law."
Then there is Marital Law which we all know is very similar to Martial Law, but very different.
Now Maritime Law might be more like Trade Law...
Hah! LOL!
Good one!
"Banksters told the 93 IQ bush baby that ATMs would not work within 12 hours and that Marshall law would have to be called within 24 hours."
Why would he call Marshall Law? http://www.jmls.edu/
Was he setting up a clandestine meeing in Chicago?
Bush KNEW Obama was going to be his successor!
Great fodder for a new conspiracy theory.
Martin Armstrong never get it right since the first Itime I followed him some several years ago.
Once a currency is debt saturated, its lost its usefulness to TPTB. They will print a ton of it to buy up whatever they can, then start over with a new currency once they own it all.
Made me laugh, what childishness ...
governments are run by politicians -
they NEVER reform voluntarily because that means surrendering power, priviledge, money
they MUST ALWAYS be overthrown by force
Tino Armstrong is kooky.
so what else is new Martin
Are Lindsey Williams and Armstrong related? Perhaps blowing the same ''elite buddy''?
Well there are a few statements here and a lot of questions and possible strategies by TPTB.
- Going to Cashless Society could get us into World War III Faster
- Going Cashless clearly would spike petty crime, muggings, robberies, theft, car jacking, chop shops, organized fencing of stolen goods, and Grand larceny
Yes, we can look at Velocity, many kinds of debt, Expansion of Fiat, Low Gold & Silver Reserves, High Foreign Investment of all kinds in the US including Property and Federal Debt, Low Domestic Investment in Capital Equipment & Facilities, Capital Flight, Decapitalization, Brain Drain from Industry, Hyper Financialization of Every kind of Asset or Debt instrument... And a Shift in the Whole Economy toward Financial Middlemen instead of real products or services while wages are pushed down, jobs eliminated, and outsourced jobs and part-time jobs replace bread and butter type jobs.
- household debt $14 trillion in 2014
- Federal Debt $18 Trillion in 2014
- Foreign Ownership of Federal Debt $6 Trillion 2014
- Foreign Ownership of Ports, Real Estate, Businesses is unknown since the US Govt doesn't want you to know
- Federal Reserve Balance Sheet $4.4 Trillion in 2014
- US Derivatives Total over $1.7 Quadrillion in 2014
- Gini Ratio Steady Increase over 35 Years to .476
- Population Growth Requires 200K new Jobs every Month
- Hyper Competitive Job Searches unleash many social problems as well as dependence on Welfare Programs
- Restructuring of US Economy has Created a 'Class' system since many don't have the multiple degrees, specialized certificates, and Ivy League Associations
- Free Trade is unauditable way to deprive worker rights
- Globalism = Giving up pieces of the USA to Privatization and Foreigners
- There is no Honest Broker in FBI, SEC, FINRA, FTC, or GAO
- US Congress & President work for themselves
http://research.stlouisfed.org/fred2/series/GFDEBTN
Income Gini Ratio for Households by Race of Householder, All Races, 2013: 0.476 Ratio (Strong Steady Trend for 45 Years, first year = 1967-01-01), Annual, Not Seasonally Adjusted, GINIALLRH, Updated: 2014-09-30
http://research.stlouisfed.org/fred2/series/GINIALLRH
M1V, M2V, MZMV, and Multiplier all seem to Trend down before Collapse in 2008.
https://research.stlouisfed.org/fred2/series/MZMV
https://research.stlouisfed.org/fred2/series/M2V
https://research.stlouisfed.org/fred2/series/M1V
https://research.stlouisfed.org/fred2/series/MULT
We have more Foreign Investment than Domesticate Investment.
http://www.bea.gov/newsreleases/international/intinv/iip_glance.htm (wow huge trend, $31 Trillion in Foreign Property in USA vs $24 Trillion)
Rest of the world; foreign direct investment in U.S.; asset, Level, 2014:Q4: 3,298,931.7 Millions of Dollars (+ see more), Quarterly, Not Seasonally Adjusted, ROWFDNQ027S, Updated: 2015-03-12
https://research.stlouisfed.org/fred2/series/ROWFDNQ027S
https://research.stlouisfed.org/fred2/series/GPDIA (Gross Private Domestic Investment, $2,851.6 Billions of Dollars)
https://research.stlouisfed.org/fred2/series/GPDICA (Real Gross Private Domestic Investment, $2,704.7 Billions of Chained 2009 Dollars)
Late Edit/Add:
- Current account balance compares a country's net trade in goods and services, plus net earnings, and net transfer payments to and from the rest of the world during the period specified. These figures are calculated on an exchange rate basis.
Current Account Balance: Total Trade of Goods for the United States©, 2013: -703,911,000,000 US Dollars,
Sum Over Component Sub-periods (2013 was last data, USA ranked 193 out of 193 Countries, Dead Last), Annual, Not Seasonally Adjusted, BPBLTD01USA637S, Updated: 2014-04-03
http://research.stlouisfed.org/fred2/series/BPBLTD01USA637S
https://www.cia.gov/library/publications/the-world-factbook/rankorder/21...
Here's a little piece that explains a lot:
The Ban on Cash - Part II
what happens to cash under the mattress? Is it outlawed?
Welcome to the Jade Helm Door-to-Door Collection Agency.
Might make good kindling, unless you live in a state where burning fireplaces and backyard charcoal grills are 'illegal'. In that case possibly wall paper?
Thought a little Herman Melville appropriate here: "A miserable world! Who would take the trouble to make a fortune in it, when he knows not how long he can keep it, for the thousand villians and asses who have the management of railroads and steam boats, and innumerable other vital things in the world. If they would make me a Dictator in North America a while, I'd string them up! and hang, draw, and quarter; fry, roast, and boil; stew, grill and devil them, like so many turkey-legs--the rascally numskulls of stokers; I'd set them to stokering in Tartarus--I would.
I found it interesting that the quote from "Cock-A-Doodle-Doo! or the Crowing of the Noble Cock Beneventano" appeared as part of a short story in Harper's Magazine
Try getting a quote like that in Harper's today!
Rickards put this out:
Why Most GoldBugs are Dead Wrong
http://bonnerandpartners.com/weekend-edition-why-most-gold-bugs-are-dead...
from @KoosJansen
"P.S. There is a new way to use monetary distortions to your financial advantage. Jim developed a proprietary system he calls “IMPACT” to teach ordinary investors how to profit by as much as 1,000% from the seesawing in global currency markets. Best of all, you don’t need to invest in the forex market or the stock market or do anything risky like sell covered calls. Read on here to see how to use Jim’s new system with your regular online brokerage account."
Same ole.
I'm a boomer. If I used bonner and partners Bill would probably accuse me of somehow screwing the younger generations. Wouldn't want that! So for the younger generations sake,,, I'll pass.
What's really cool is the infomercial stating how bonner and partners can help you get your "rightful amount of Social Security". Yes, Social Security!
Wonder if this is the same Social Security he demonizes every chance he gets? Must be a different Social Security as surely he wouldn't be involved with screwing those poor innocent youngsters.
IMO.
I saw that before and follow Riickards because he's smart and explains things simply and to the point. But he's not always right and was wrong last 3 years about the EUR rising due to their progress 'restructuring.'
Having read his books I think he is right about the games being played over a new monetary system, ie., China really wants a big seat at the IMF table and does not really want a competing system, and are just using gold and AIIB as ig blevers.
Gonna be a crash here too! " Among Ukraine’s biggest creditors are five U.S. investment firms led by California-based Franklin Templeton, to whom about $23 billion is owed. These creditors risk a ‘haircut’ - a potential reduction in the payback on their principal investment."
How I would love to see Franklin eat a 23 billion dollar default! Yeas ago some invetment guy tried to sell me a shit load of Templeton funds. Front loaded of course, and only a small fee each quarter. Fuck, once I read it through, I would be paying Tempelton to hold my money.
The coming crash is why the Washington Elites are deperate to create a major Euopean War. This would destroy the EU and Russia, after the dust settled, the USA would stand alone in the west as the only in tact economy, just like 1945! And yet The stupid fucks in Europe follow along Washingtons was policies with eagerness. As if they think they can win big against Russia and conquer them. Better think again fuckers! Russia is not a great power, but they are a regional power able to smash all hell out of anyone crossing their bordes. But that is just what Washington wants, and is planning. Bribed and Black Mailed EU politicians follow the US lead.
Aint going to happen
The USA will not dominate
It is falling apart now. The USA will be split eventually and will be no better that some African countries due to problems within. Just like all the other master races and stuff in history.
Repubs and Dems are almost to the point of going to war against each other. All is needed is an assassination and it will happen. Too many CIA, Saudi and other goons around.
prolly not
Please don't bring your nuclear weapons to a sissy fight.
I agree with you Jack, but I believe the crash will happen before the war. A fat, contented populace is harder to rally to fight than a starving hoard with nothing to lose.
It's like some sick game being played out by the elite playbook time and again over the centuries. When will the pawns wake up?
well, well, well...
chinese ghost cities make more sense.
i said it b4, china/russia, ussa kabuki.
CPFO.....The new USSA FoxCON
Confined People Farming Operation
To pay back these bastids debt.
And the velocity determines the value of the dollar. Wonder why it has been inching higher despite the avid cash printing by the Fed? Because it is being horded by central banks. This is not dollar bullish despite what dollar bulls want.
Talked about this last week... it's closer than people think.
http://www.globaldeflationnews.com/governments-are-secretly-preparing-to...
IMHO bank cash is drained because of the huge gap between borrowing and lending interest rates. So for example if you hold cash or a deposit at the bank and at the same time a loan or mortgage (or your family) you pay it down as quick as you can.
This is shortening the balance sheet = lifeline of banks. But just looking at numbers you can never understand what happens with the deposit balance at the banks. It just disappears but not necessarily into cash under the matress.
Long rope! We aint in the club, and never will be.
Check this MZM Money Supply, doesn't it look like it is being created Exponentially. We know banks create the most money and that they don't rely on our 'Bank Deposits' any more...
-
MZM Money Stock
2015-05-04: 13,206.3 Billions of Dollars (Broadest Measure of Money, Exponential Increases), Weekly, Ending Monday, Seasonally Adjusted, MZM, Updated: 2015-05-
http://research.stlouisfed.org/fred2/series/MZM
Then check the Downward Collapse of MZM Velocity
Velocity of MZM Money Stock, 2015:Q1: 1.353 Ratio (Collapse perfectly timed to the High in Manufacturing Employment as it also collapsed), Quarterly, Seasonally Adjusted, MZMV, Updated: 2015-04-29
http://research.stlouisfed.org/fred2/series/MZMV
All Employees: Manufacturing
2015-04: 12,322 Thousands of Persons (High 1979 at 19.5 Million Employees)
Monthly, Seasonally Adjusted, MANEMP, Updated: 2015-05-08
http://research.stlouisfed.org/fred2/series/MANEMP
Maybe I'm reading and interpreting it incorrectly, but $14 Trillion in money stock x 1.4% monetary velocity pretty much equates to the current GDP..
The question is what event will motivate that money supply to be exchanged in economic transactions (velocity). When that happens, we'll see interest rates soar, and the Fed desperately attempting to pull liquidity out of the money supply..
The only think I see accomplishing that is outright global conflict, or a crash in commodity prices (opening up economic value to risk-taking investment), or people pulling their money out in large quantities and converting that cash into other assets. (hyper-inflation)
Scrutinizer
I don't know enough about Commodities or Economics.
But I think if the USA went into a Massive Region War and Required Spending $1.5 Trillion in a single year or in two consecutive years... Massive Federal War Spending could trigger requirements for high interest rates as Lending hits some bottlenecks. But maybe a Massive Federal Works Program, Infrastructure would also Raise Rates. Not that it would ever happen but I think Military Spending has little Velocity, so if huge Military-Security Cuts were made those dollars spend else where in the US Economy would produce more Velocity. If we Streamlined Accounting & Tax Rules causing layoffs of Accountants the following year might see velocity as those people took jobs that Added value to the Economy.
Right now many Nations and TBTF Banks are buying US Treasuries very quickly.
Maybe Commodities fit on my earlier list some place...Liquidity must come from by not be limited to:
- Manufacturing, Sales & Building Inventory
- Velocity of Money (from Business Activity, consumption)
- New Commercial Bank Loans
- QE & Corporate Bailouts
- Federal Spending, Fiscal Policy
- Trade Low Value Occupations for 'real' Value Added Occupations
Fartin' Marty is an insipid, ego-driven cretin and a douchebag. All these disasters on the near horizon... and the gas-bag still hates gold. He is a shill for TPTB after getting his brains buggered out while in prison, after alleged major embezzlement of his customers funds. Worthy of respect? LOL!!!
How many times has some soap-box American threatened with hell, brimstone, doom and gloom? Can't you all see it is the old "Repent, the end of the world is nigh" spelt with another vocabulary?
Which doesn't mean the country isn't going to shit, but these dudes are part of the problem, not the solution.
I have seen no anecdotal evidence that people are stock piling paper money. Then again, if you have big piles of cash laying around the house you don't exactly talk about it unless you want to get robbed/home invaded/killed.
Most people who have held or hold large amounts of cash are hiding it from a spouse. Or they are drug dealers/users, gamblers, like hookers etc.
But I don't have acccess to the bank's data to see cash withdrawals. Apparently a lot of money is leaving as cash and not coming back in as deposits. If these people are to be believed.
I do not stockpile cash but I can fully understand people's reasons for doing so..
It IS always a good idea to 'stock' some small cash at home, in coin or bills under $20.00. If there's ever a problem with the banks, people will withdraw TONS of 20 dollar bills from the ATM's, everyone will be flooded with 20's, and will run out of change quick.
If you have exact change, you can make those small purchases more easily than all the folks in line at the register filling out IOU slips for their change...
And you can keep it at home with no issues. If you keep small bills and coins in small stashes scattered all over, you won't lose everything. Robbers finding one or two of those stashes of 30 bucks aren't going to be too tempted to hang around and look for more.
But in this electronic age, one should always have SOME kind of physical cash backup for when access to your bank may be restricted.
Exactly. hoarding cash creates vulnerabilities to criminal confiscation (including the gov't via asset seizures).
We've already seen law enforcement effectively declare that carrying "excessive" amounts of cash makes you an automatic suspect for involvement in drug trafficking..
Or the guy who had $107,000 seized by the IRS for alleged "structuring" and who is only now, after several years, and nearly losing his business, getting it back (without interest and no compensation for legal fees)..
But I think we're increasing at the brink of people withdrawing cash because they don't want to pay the banks to act as "storage vaults" for it, and charging a fee.
If it gets out of hand, it could result in bank runs.. But the one thing against that event is that the 99% really don't have much savings left..
Scrutinizer
We aren't going cashless anytime soon. If folks are indeed "hoarding money", it's because there is a REASON for that. They don't trust the system.
Now tell me how you'll get 'cashless' to work...The banksters may WANT NIRP, but people aren't necessarily going to go along. They certainly aren't going to sit by and watch their money disappear. And too many people distrust the system as it is, it won't take much to destroy the credibility of the dollar.
Neither will the black market, and that includes illegal drugs, etc. All dependent on cash, and NOT going away despite the pipe-dreams of the elites. The ones who claim cashless will stop all crime and black markets make me laugh...are they really THAT stupid and naive? And what do they intend to do about all the fundamentalist Christians who will absolutely refuse to take "the mark of the Beast" for buying and selling? Their religious objections will take any such effort right to the Supreme Court...this same court that ruled Hobby Lobby could not be forced to act against their religious beliefs. So, you'll have to have a dual-currency system to accommodate them. Now what always happens in a dual-currency system? The weaker money gets buried. What's likely to be perceived as the weaker money...the hard currency circulating, or the digital fiat that exists only on a computer?
Now here's another thing...to do this would be a one-way street, once you do it, you can't go back. You also need everyone on board or else money will flow towards those countries perceived as 'sound'. So, unless you are CERTAIN it will work, there will be a reluctance to roll those dice. Because if it doesn't, you have a currency crisis, and lose control over your money altogether. Trash the dollar, and all wealth in dollars will go away, and I don't think rich folk will want that, since much wealth is in dollars.
Part of me wants them to try, because I believe it would be a total disaster, and I want to see the desperation as they try to control the mess they made.
It's a huge risk to take unless you're really, REALLY sure it will work. Is ANYONE that sure?
Going cashless is like Elon Musk's trips to Mars...fun to talk about, but not likely to happen anytime soon.
"It's a huge risk to take unless you're really, REALLY sure it will work. Is ANYONE that sure?
Going cashless is like Elon Musk's trips to Mars...fun to talk about, but not likely to happen anytime soon."
It doesn't mean that they won't try. The cocksuckers are desperate.
so
Hey, I don't think it did work. We wouldn't be having this conversation if it had.
* I like to round numbers up, not down.
Martin Armstrong is batting 00.00 in predicting the next disaster. A street preacher prediciting the end of the world next Thursday has more credibility.
Martin Armstrong only has to be right once to be considered to have been right all along.
While "the crash of all crashes" will show up first and foremost through the fundamentally fraudulent financial accounting systems, that have been making "money" out of nothing to "pay" for strip-mining the planet, the REAL PROBLEMS are due to having done that strip-mining, whereby we have high-graded ourselves to hell.
However, since that will take several decades to become more significant to those nearer the core or the top of the established systems, there are no good reasons to believe anything would be done about that. Tiny groups of intellectuals have been thinking about that tragic trajectory for generations. However, of course, their warnings were ignored.
It is NOT possible to fully comprehend the magnitude to which controlling civilization through being able to ENFORCE FRAUDS is driving that civilization to manifest runaway criminal insanities. Americans, and still by extension most of the rest of the world, are dominated by utterly absurd STATE RELIGIONS, which are broadly based upon the vast majority of people being able to deliberately ignore the laws of nature, due to the history of what George Orwell's book 1984 metaphorically described as brainwashing people to believe 2 + 2 = 5
Of course, that was poetic license used to make a point. Actually, what the vast majority of people believe is more psychotic than we can fully imagine, due to not being able to understand the degree to which backing up lies with violence for thousands of years has created an artificial culture which became as psychotically insane as it could possibly become. The great double-bind paradoxical Catch 22 was that, in every short-term increment, those who were the best at being dishonest and backing that up with violence had prevailed, while the overall trajectory therefore become more and more tragic, as human civilization as a whole therefore became increasingly psychotic, due to everything being based upon lies that were always getting further and further away from relatively more objective facts, while the backward absurdity of those lies continued to be able to prevail through violence nonetheless.
From a practical point of view, it still does not matter, nor make any material difference to point out that two plus two does not equal four. The existing political economy is totally based on ENFORCING FRAUDS, and will continue to be ... despite that that will necessarily cause severe social storms to blow through, during which times there will be crazy collapses into chaos, and psychotic breakdowns.
The GREAT PARADOXES are that civilization necessarily operates according to the principles and methods of organized crime. HOWEVER, the established systems are built upon the biggest bullies' bullshit that promotes the most backward and absurd views of those basic facts as is humanly possible. It is not possible to communicate to the vast majority of people the degree to which everything they believe is rotten bullshit, which is as backward and absurd as it could possibly become, after thousands of years of controlled civilization by backing up lies with violence.
Since there is almost nothing but organized crime, surrounded by controlled opposition groups, both of which stay within the same frame of reference of totally taking for granted the Huge Lies (which were backed up by Lots of Violence) for generation after generation), there is practically no way for any of them, nor their political economy systems, to come to terms with any more rational overview of what their real problems are, nor what could more realistically be done about those problems.
Guys like Martin Armstrong are typical of the material republished on Zero Hedge's perennial gross understatements of the problems, followed by gross overstatements of what the "solutions" could be, given the relatively shallow level of appreciation of what the problems really were. Again, another aspect of the GREAT PARADOX that the entire political economy is based on ENFORCED FRAUDS is that any relatively worthwhile "actionable intelligence" manifests INSIDE of the context of continuing to take for granted that the political economy is based upon ENFORCED FRAUDS.
Certainly, within the shorter to medium term futures, continuing to operate INSIDE of the established systems being based upon ENFORCED FRAUDS is the only practical position, despite that, in the longer term, that reliance on ENFORCING FRAUDS is driving civilization to become, overall, even more psychotic and criminally insane. Anyone who is making "money" is participating in the social successfulness of systems based upon being able to ENFORCE FRAUDS, which continues to work in each short-term increment, despite that overall resulting in the problems that everything is based upon Lies, which never stop being false, no matter now successfully those Lies are backed up by Violence, so that the vast majority of people, for generation after generation have adapted to agree that 2 + 2 = 5
The GREAT PARADOXICAL SOLUTIONS TO THE REAL PROBLEMS ARE NOTHING LIKE THE DOMINANT ORGANIZED CRIME GANGS, NOR THEIR CONTROLLED OPPOSITION GROUPS, EVER ARTICULATE.
Not only IS money measurement backed by murder, but it also must necessarily be so. Thus, the great paradoxical solutions to the real problems are to go through deeper levels of understanding and accepting how and why the political economy is based upon ENFORCING FRAUDS, which includes perceiving that the production of destruction necessarily controls production. Our political economy is based upon systems of organized lies operating robberies, and it must necessarily be so. Our political economy is based upon those who were the best at being dishonest and backing that up with violence dominating society with their bullshit stories, which are as backward and absurd as possible, while their social successfulness, based upon being able to back up their lies with violence, was also able to control their opposition groups, in order that the opposition would also promote the same absurd, backward, bullshit view of the world.
Hence, the overall double whammy paradoxes are that our political economy is based upon ENFORCED FRAUDS, but that is presented as either an aberration, or rather, denied to be the case, depending upon the roles that different people have within those systems which are actually based upon ENFORCED FRAUDS. There are necessarily combined money/murder system. The debt controls are necessarily backed up by the death controls. However, the history of warfare based on successfully backing up deceits with destruction gradually transformed the history of social pyramid, or slavery, systems into becoming successful finance based upon ENFORCED FRAUDS. Meanwhile, the GREAT PARADOXES that successfully ENFORCING FRAUDS never stops those FRAUDS from still being FALSE, continues to accumulate consequences, which result in civilization as a whole becoming more and more psychotic, in the sense that the dominant social stories amount to people believing that 2 + 2 = 5
Since human beings and human civilizations NECESSARILY operate as entropic pumps of energy flows, one of the GREAT PARADOXES was that the concept of entropy was inverted, similarly to how everything else was inverted due to the dominance of the biggest bullies' bullshit social stories. Therefore, Americans, and most of the rest of the world, are dominated by the same absurd and backward STATE RELIGIONS, which are based upon attitudes of the maximum possible evil deliberate ignorance, required so that people can continue to believe that 2 + 2 = 5
While it is theoretically possible that human beings and civilizations could understand themselves better, the presently established systems are almost totally based upon deliberately misunderstanding themselves in the most absurd and backward ways possible. Indeed, that has become so extreme, for so long, with such dire longer term consequences, that it is a gross understatement to express that as merely being that the vast majority of people have effectively been brainwashed to believe that 2 + 2 = 5
Actually, the degree to which people deliberately do not want to understand anything any better continues to be practically impossible to exaggerate. Civilization based upon ENFORCED FRAUDS is surely headed towards "The Coming Crash Of All Crashes." However, the presentation of that problem on Zero Hedge usually tends to be grossly underestimated, and/or over-simplified, and therefore, those mistakes follow through to the presentation of any "solutions" regarding those problems.
The GREAT PARADOXES are that people necessarily live through systems of organized lies operating robberies. However, the degree to which those systems get away with backing up their lies with violence while doing that becomes the matching weakness within their strength. The GREAT PARADOXES are that the established systems are based upon ENFORCED FRAUDS, which are trending towards final failure from too much "success" through ENFORCED FRAUDS. While it is quite reasonable to predict that we are trending towards more genocidal wars, along with democidal martial law, as the efforts to continue to ENFORCE FRAUDS become more desperate, there are no good reasons to expect that is going to work.
Within that context, it is obvious to speculate about trends towards abolishing cash, due the overall efforts being made to continue to double down on ENFORCING FRAUDS. However, none of that, despite those sorts of things being what the rulings classes have actually been preparing to do, are going to be sufficient. While it is painfully obvious that there are NOT going to be allowed to be any "reforms," it is also patently obvious that there are no "reforms" to the established systems based upon ENFORCING FRAUDS, which would not continue to be attempts to build on top of rotten foundations.
We are approaching points where the established systems become such obvious runaway criminal insanities, that there must necessarily be provoked "revolutions." However, since the established system are almost totally surrounded by layers of controlled opposition, there is almost nobody who recognizes what genuine "revolutions" would be, rather than still promotes another old-fashioned brand of the biggest bullies' bullshit, as being their favourite "solutions," which are actually bogus, because none of the controlled opposition groups are promoting the kinds of intellectual revolutions which would be theoretically necessary.
It continues to be the BASIC ISSUE that there has been progress in physical science, which has enabled industrial revolutions through technological civilization. Those are the ONLY ISSUES that have changed things in significant ways. However, meanwhile, all of the progress in physical science has NOT changed political science, which was entangled in social pyramid systems, based on being able to back up lies with violence. What passes for "political science" in our civilization is totally based upon the biggest bullies' bullshit world view, in various ways, depending upon whether those doing that are closer to the core of the organized crime, or further out on the periphery of the controlled opposition.
That was how and why we have developed globalized electronic money money frauds, backed by the threat of force from apes with atomic bombs, through the MAD Money As Debt systems, backed by the MAD Mutual Assured Destruction systems, while that overall MADNESS got worse, faster, at an exponential rate. Almost NOTHING about the whole political economy being based upon ENFORCED FRAUDS is allowed to be publicly presented in the schools or mass media. Similarly, almost NOTHING about how and why there are necessarily systems of ENFORCED FRAUDS is publicly presented by the controlled opposition groups.
Basing technological civilization upon being able to strip-mine the planet, as we high-grade ourselves to hell, is enabled by the ENFORCED FRAUDS of making the public "money" supply out of nothing as debts in order to "pay" for doing that. PARADOXICALLY, we are living inside of "scientific dictatorship" which is as unscientific about itself as it can possibly be. Basically, to again borrow George Orwell's metaphor, all the scientific techniques of brainwashing possible have been applied to persuade people to believe that 2 + 2 = 5
However, since that NEVER actually makes 2 + 2 = 5, but rather, it is still 4, "The Coming Crash Of All Crashes" is due to the entire political economy being based upon being able to ENFORCE FRAUDS, in ways which the established systems deny, while their controlled opposition groups deny that it must necessarily be.The established social systems work through the specialization of labour, where different groups of people perform different roles, which are necessary for the whole system to work. That has enabled those who work in the murder systems to not understand how they keep the money systems going, and vice versa. Those making "money" are allowed to present themselves as being purely productive, while they get to deliberately ignore the necessarily related ways that they are "making a killing."
THE CIVILIZATION WE WERE BORN INTO HAS BECOME QUITE PSYCHOTICALLY INSANE, DUE TO THE DEGREE THAT IT IS ABLE TO BELIEVE ITS OWN BULLSHIT ABOUT ITSELF.
Since the ways that the system as a whole work are deliberately denied and ignored, there are increasingly severe disequilibria between the different component systems of organized lies operating robberies. Paradoxically, those who are the best at "making money" and "making a killing" do so by being the most dishonest. Since that has been the case for generation after generation, the vast majority of people within the established core systems of organized crime, as well as within the surrounding layers of their controlled opposition groups, appear to actually believe 2 + 2 = 5
Some very decent expostulation of philosophical and teleological dynamics... Still, the word "prosaic" and " semicolon" and "screed" made frequent appearances as I (flaggingly) neared my jump off point somewhere situated at the 10th or 11th "2+2=5" cudgel...
1+1=1
From your appreciatedly informed lips to the phalanx of still independent judges' ears!
You forgot your qualifiers.
The Constitution is not “alive and well”: it is a constitution of convenience: if the target is a communist, member of the MAFIA, a crooked politician, an alleged felon, insane, welfare taker, dope head or any other kind of mentally deranged or useless person, the Constitution will be strictly observed.
If you believe that rule by thieves is unacceptable or any other kind of anti-socialism, the Constitution is a dead instrument: all rights, rules and accepted procedures will be disregarded in order to silence or eliminate such dissidents.
The Constitution is nothing more than a flimsy piece of paper.
I know this by experience.
If we are to have any redress, we will have to resurrect ideals expressed in the Declaration of Independence. By “resurrect” I mean there’s hardly an American who knows such ideals. And, without this knowledge, they will be utterly unable to defend – much less, re-establish – such ideals.
Anthony, you are a Well Read and Well Spoken Man....
I take your Grievances as True and at Face Value....
And ?
I could tell stories of how at the Hands of Our Government, I was treated in ways that make "GITMO" look like a Country Club.....
And ?
I have been Audited by the IRS and to paraphrase Nixon " their head was so far up my ass, they could see out from my tonsils...."
Yet, I took on my own case, without an Attorney in the US Tax Court....and Removed their Head from My Ass and Paws off of my Capital.....
There are more stories, but suffice it to say, I have brought the Government to Heel a number of times.
There are "Cutthroats and Scoundrels" in all walks of Life, and in all places; Always have Been and Always Will Be.
Even assuming arguendo as you and many others have that the "Federal Reserve" is the center of the "Monetary Evils" and the ones pulling the levers, the simple fact is, if it wasn't them, it would be somebody else.
All of the Points you make, as with "Radical Marijuana" all come down this:
HUMAN NATURE.
There Always Have Been and Always Will Be a Few with Tremendous Power.......and those Who Abuse it.......as well as those who Do Right By that Power.....
Fortunately for myself, I happened to be born in America, the best Nation the Human Race has yet to Devise.......
I wil take the US Constitution over any other Nation and their Laws, Hands Down.
It is far from Perfect in Application, as I have Experienced First Hand.
IGNORANCE and FEAR will always used as tools by those who have an Agenda; sometimes that Agenda will be Benevolent; Most of the Time, Malevolent.
This is the Human Way.
I have found in Life one can Focus on Perceived or Real Injustice and Wrong, or focus on Betterment of Themselves and Those Around them.
Myself, I have learned that the Latter is always more Productive.
As Life, and the Legendary Jesse Livermore taught me:
"Post Mortems don't Pay Dividends".
Indeed Not.
To begin with, no nation exists. Therefore, every statement you make about any "nation" is psychosis and insanity.
Furthermore, the claim that "the USSA is the greatest nation" is absurd on the face, because look what it is... the most evil, destructive, authoritarian empire the world has ever known.
I must say, any "indian settlement" was a vastly superior than the old USA, the new USSA, or any "nation" you can name.
Why so?
For one very simple, but UTTERLY and FUNDAMENTALLY IMPORTANT reason. The so-called "authority" of that "nation" ended at the boundary of the settlement. Beyond any of those "indian settlements" was... what I like to call "no mans land".
Why is this so superior to all so-called "modern" alternatives (every so-called "nation")? Very simple. If any individual doesn't like the "rules" of the settlement, they can take a few dozen steps and they are no longer subject to those local "house rules". They are in "no mans land" where they can do anything they want that doesn't harm others. If they do try to harm others in "no mans land", either they or the other individuals involved will end up dead (though they might be able to run away once or twice before their lack of basic civility catches up with them).
THIS is the only valid, much less efficient organization for sentient beings. If the advantages of a settlement are greater than whatever hassle the "house rules" present, overall you benefit from staying in the settlement, and you'll likely remain. Or if you learn of another settlement that has rules more enjoyable or efficient for your purposes, you simply get on your horse, or in your airplane, and head for the better settlement.
Or you pick a nice empty spot that appeals to you in "no mans land" and start up your own settlement for one. Or bring your boyfriend or girlfriend, and make that a settlement for two. Or bring your family and/or friends, and make that a settlement for a few or several individuals. Make your own rules. Anyone who doesn't like them can (and should) leave.
That is CIVILIZATION. That is the ONLY POSSIBLE organization of human beings that constitutes civilization.
Also note that this is liberty, and this is freedom. How so? The notion that liberty is a place with no rules only exists in the minds of a few morons who haven't thought much about reality (or liberty) yet. If they had, they would realize something. That liberty is 100% compatible with "setting rules within your home". Anyone who wants to be in your home must follow your "house rules". If they don't want to follow your "house rules", they are free to leave... and they MUST BE free to leave, otherwise you are attempting to make them your slaves.
Creating slaves is PRECISELY the fundamental nature of every "nation" today. Why do I say this? Something esoteric? Something arbitrary? Something religious?
No. Something obvious. Something I already said.
Your rules must end at the boundaries of your home. We can debate what is the legitimate basis and nature for claiming the land near your home as "part of your home" and thererfore "part of the domain in which others must follow your rules". But if we do that honestly, we run smack into the question "what is the justification for ownership"?
So, what IS the valid, legitimate, fundamental basis for "ownership"? The answer is quite simple. Ownership is a consequence of one of the most fundamental aspects of reality (namely "causality" AKA "cause and effect") as applied to "human action".
To be more specific, the term "owner" applies to "creator". If a human takes actions that cause something to exist that would not otherwise have come to exist by the natural processes of nature... then that human is literally the creator, and we also say "owner".
At first, one might question why coin a new term "owner" where "creator" is more to the point. But then one notices a different term is very helpful if not necessary to refer-to the same relationship in a world where humans exchange goods and goodies they created for goods and goodies other humans created.
As we can see, after the trade, one might have a more difficult time explaining how they can be the "creator" of goods they now "own" by means of trade of their goods for goods created by other creators. The term "owner" covers this variation.
However, if one looks closer, one can see that trade is a form of creation. The humans involved take actions, and those actions convert one good into another good (the good they created into the good the other human created). And in a very real sense, this is an act of creation, though not nearly as blatantly evident as the more direct kind we already discussed. How so? Because notice this. No trade would happen unless both traders consider themselves to be better off with the goods they received in the trade, than with the goods they had to trade. We all know why this is very often the case, namely "specialization" and "division of labor". The important point is, something was created, namely "value". At the end of the trade, no new physical good exists, but both traders have (and own) more value. Why? Because of their situations. In their situations, the goods they traded away have less practical utility than the goods they received. End of story. Values was created.
One can dig into this process further and notice various points. For example, one can notice that no human created any of the atoms in the goods they created (caused to exist). That's true. But rather than defeat or harm the concepts or argument, this helps one understand the actual nature of work, causality, creation and owhership. The causal process involved is not "creating the substance of the good" (namely the "atoms"), the causal process involved is "creating the configuration of the substance that is the good". The value of a precision machined part is not the dirt that was converted via complex processes into pure metals which were then cast and then machined into precision shapes. No, the dirt is the substance, but not the source of the value of that good --- the configuration is. That was created by human action. And that is where "causality applied to human action" lies.
When applied to "land", we find that "land ownership" is not possible, because humans did not create or cause earth to exist, and this is the only basis of "ownership". However, we can definitely defend the notion of "land stewardship" that extends beyond the boundaries of the physical good that we call the owners "home". We can also point to improvements in the configuration of the land, including additional goods placed upon and attached to the land.
We can certainly defend all buildings and equipment on the land, for they fall squarely within the conventional notion of "ownership" because some human is the creator of those buildings and equipment. We can also point at purposeful recongifurations of the land itself, such as ditches, canals and other configurations that aid growing crops, raising animals... or just enjoying ourselves (swimming pools). So at the very least we can agree that nobody can haul away the barn or tractor from the land near some individuals home, or destroy ditches or canals or swimming pools or patios, because they are owned by that individual just as much as his home and everything in it.
Where conventional notions of "land ownership" because difficult to defend is where the owners claim "you can't walk across my land, even if you do not harm or steal any created (thus "owned") item on that land".
However, at the end of the day, "land stewardship" is quite close to equivalent to common notions of "land ownership" in practice. Just not identical.
The point of all the above is to help justify why the range of "house rules" cannot be extended "beyond the house"... or at very most "beyond the fence around the house and crops".
The payoff from understanding all the above in terms of the original discussion (way up top) is... now we can clearly understand why "nation" is an inherently evil, corrupt, predatory concept (not to mention a totally fictional one).
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This is been a bit lengthy, but I wanted to address your huge but overwhelmingly common mistake in a clear and thorough manner.
The USA was just as much a tyranny when it was supposedly created in 1776 (or whenever) as the evil empire USSA is today. And the most fundamental reason is the same. That reason is... no individual can legitimately extend his "house rules" beyond his "house"... or at very most (arguably) the immediate area around his house that he intensely and almost continually works and re-configures in productive (or at least enjoyable) ways.
The instant any individual, or any room full of individuals claim "everyone within hundreds or thousands of miles is (and shall FOREVER be) subject to my rules", they should be immediately executed. Or at least, the instant they threaten punishment to anyone for breaking any rule they claim applies outside "their house".
That anyone can take as legitimate, much less benevolent, events like "the founding fathers" signing a declaration that "everyone within hundreds or thousands of miles, and forever more into the future, must obey the following demands and rules" is proof that humans are TRIVIAL to brainwash with utterly evil ideas. Because anyone who sits down for a few minutes and honestly considers whether such an action could possibly be legitimate in any way, shape or form MUST come to the obvious conclusion that what is being attempted is FUNDAMENTALLY and MASSIVELY EVIL and BLATANT TYRANNY.
What subsequently happened to those legitimate indian settlements is proof positive.
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so-called "law" is fiction.
so-called "state" is fiction.
so-called "nation" is fiction.
so-called "official" is fiction.
so-called "authority" is fiction.
so-called "corporation" is fiction.
so-called "government" is fiction.
Earth is real. Oceans are real. Lakes are real. Mountains are real. Rocks are real. Plants are real. Animals are real. Humans are real.
If a human wants to think or write anything that is legitimate, he must restrict his thinking and writing to elements that are ALL real. Otherwise he is just jerking his brain off, and everything that spews out will be bogus nonsense. And if he applies his results, the consequences are sure to include harm, destruction and often heaping doses of tyranny.
Even the smartest brain will generate garbage output if he accepts fictions as real and legitimate input. Which is why smart humans need to "get real", or they will just output more complex and confusing piles of bogus nonsense than stupid humans. Which is, sadly, overwhelmingly the situation today.
"Which is why smart humans need to "get real", or they will just output more complex and confusing piles of bogus nonsense than stupid humans."
agreed, and that applies to almost all economists.
Pull it Larry.
On the Matter of Velocity:
This is a very Old Question and Issue....
While Henry Hazlitt has been one of my Great Professors, we don't see Eye to Eye on this issue.
The Problem is in Semantics and Concept, rather than Substance.
"Velocity" is better Defined and Viewed as the Principle of How Fast Capital Moves through the Economy.......
That is indeed Real as can be, and Relevant as can be......
Thus "Velocity" depends on Where, How and by Whom Capital is held.
The actions of Central Banks, Governments, et al., can and have added "Capital" to the Balance Sheets of various Rentiers; but this DOES NOT, create "Velocity".
Let me illustrate:
I started out as a Poor Man without a Pot to Piss in or a Window to throw it out of.....
From that I went on to Clear $ 10k a day; as I made more Money, I began to spend much more.
But I reached a Point where My Spending Peaked, and it began to Decline. Capital continued to Accumulate on My Balance Sheets, but my spending still had Peaked.
Despite what People think, you really can only spend so much money a day.
"Capital" added broadly and in small individual increments through Wages thus creates the Highest Velocity; but added to the Balance Sheets of Rentiers, it literally stops.
This has been PROVEN 2008-2015, and "Velocity" is telegraphing this Loud and Clear.
I explain this in "ZUGZWANG".
"Velocity" as an analogy would best be described as the "EKG" of the Economy.
What most of the 1 % FAIL to understand, is that "Velocity" and thus the very Health of the Economy itself is driven by the 99 %.
We are indeed in the "Endgame" and No Machination(s) regardless of Party will Prevent the inevitable outcome:
Massive Wealth Destruction.
As I've said, TRILLIONS, NOT BILLIONS, will be Permanently Lost by Current Rentiers.
Those who don't want to Lose, Do Have a Choice.
Nice explanation. That is very true about rentier income not contributing to money velocity. Thank you.
It only rains Helicopter money in Manhatten.
So says you, Martin.
You have zero idea what sleazy bag of tricks they might have up their sleeves to kick this thing down the road for another 10 years.
I do hope you're right though, this time.
maybe its better that the velocity of money stays low in this crappy economy and in a country where less and less is produced because higher velocity usually correlates with inflation.
Ding Ding Ding
spending with credit/debit cards at large retail chains, the government's ability (?) to eliminate cash, and capital controls at banks, could put off hyperinflation for a while.
I will stick with beans and bullets and bourbon, because when the shit really hits the fan, I'm not selling them for cash or gold at any price, only bartering them for items I need.
Nothing wrong with beans, bullets and bourbon. They are real, physical goods and goodies too.
Most of todays generation wouldn't know how to properly prepare beans anyway.
Bill Holter summed it up nicely last week, in an article that anyone could grasp. I printed it out to benefit the sheeple I know. Here is just an excerpt:
"What happened last week is important because it IS going to happen. It is only a matter of time before the global credit markets break down. This is a mathematical certainty because there is too much debt for the global economy to support. And this at a time when there is less than ZERO premium (interest) to compensate for risk!
I have said all along that this will be an overnight event and will take less than 48 hours to circle the globe fully. It may take less than 24 hours. Had the central banks not stepped in, the panic could have spread to the U.S. and into the close. Another round on Thursday night/Friday morning may have put forth a situation where U.S. markets did not open.
Now ask yourself this, were you prepared for the markets to not open Friday morning? Do you own what you want to own should the markets close and not reopen for a couple of days, weeks or even months? Are you listening to Edelson or being scared by Dent into not owning gold or silver? You do realize gold and silver are THE only monies out there that are not “credit based” or derive their values via the credit markets …which ultimately will be closed?
Something very serious is happening behind the scenes, what exactly we cannot know. We can however do math and know that if something “bad” happens with the amounts of debt, financial leverage and derivatives outstanding, the result will not be “good”. Please, do whatever it is you think you must to prepare. This one episode alone should be enough to show you, “you didn’t even notice it was happening”. To save you the time of commenting and telling me this will continue as “business as usual”, the central banks cannot save the world forever as their own balance sheets are rotten to the core! They have done this to themselves…"
http://blog.milesfranklin.com/i-bet-you-didnt-even-notice-it
The trouble is the privately held real metal will be confiscated.
I upvoted you, because this is a rational concern imo, but the best we can do is hedge against that possibility by having other hard assets. Unfortunately, there is no one absolutely safe place to preserve capital these days, so a diversified strategy arguably must have some physical metals. Bill shares his perspective in the comments section following the article by answering a variety of concerns, not least of which are 'mad max' fears. He also effectively counters the suggestion that there is still many more years of CB can-kicking by calling this a gamble not worth taking. It's getting increasingly harder to stave off the jitters...desperate times ahead.
Let us hope that Tyranny does not envelope the whole World. But it is doing well.
Once,again.
In the end, we win.
"The whole world united shall not prevail against her."
"I am afraid a monster is grown that will devour all of us. Yet we must fight him.” ~ Isaac Asimov
Still, if you will not fight for the right when you can easily win without bloodshed; if you will not fight when your victory will be sure and not too costly; you may come to the moment when you will have to fight with all the odds against you and only a precarious chance of survival. There may even be a worse case. You may have to fight when there is no hope of victory, because it is better to perish than live as slaves.
-- WLS Churchill
"It is better to die on your feet than live on your knees," Emiliano Zapata
Churchill apparently, like you and most others, have never read Mr. Websters definition of Freedom; no one has real freedom. Only limited choices, which is liberty. Furthermore, all are enslaved to this world in many ways; so douche the "freedom" delusion and focus on your spiritual well-being; it is everyone's greatest need. That is only found by reconciliation with your Creator, who is God who is Christ who is Jesus...believe it or not and like it or not. Cheers!! 2min. https://www.youtube.com/watch?v=NMlv21zGARM
The more I look at organized religion the more it looks like Amway.
Thank you for pointing out the mote in my eye.
I'll stick with God and Mr. Churchill, if that's all right with you and Noah Webster.
It sounds good to diversify into hard metals, but where to store them, let alone how to transact in them for the goods and services we need on a daily basis.
Burying those metals in some cache means they are not immediately available for barter. Do people return to their cache to dig it up and retrieve tranches of metals for their monthly expenses? Seems like a major security issue to me.
Watch people using technology on suspected gold stashers.. GPS trackers on their vehicles, possibly even drones to surveil them on their retrieval "missions"..
Then there is the problem of using that gold/silver. Sure, there will be black-market transactions, but we're not going to walk into a store and pay for food with gold. It won't be permitted and if you're caught, you can expect a SWAT team to arrive at your premises in short order..
The Banksters have us by the balls.. We loan them money (some call it depositing and saving) and for the effort we receive Zero interest, or even worse, have to pay for the "honor" of loaning that money to them..
It may sound contrarian, but cash may actually wind up being the black-market medium of choice, given the current level of control that the Central Banks and Gov't have. It's much easier to hide cash and metal detectors won't find it. And sure, X-ray tech might reveal a cache of cash, but that's expensive and time consuming..
I wonder if this will create a boon in Hawala money transfers?
Scrutinizer
It sounds good to diversify into hard metals, but where to store them, let alone how to transact in them for the goods and services we need on a daily basis.
Burying those metals in some cache means they are not immediately available for barter. Do people return to their cache to dig it up and retrieve tranches of metals for their monthly expenses? Seems like a major security issue to me.
Watch people using technology on suspected gold stashers.. GPS trackers on their vehicles, possibly even drones to surveil them on their retrieval "missions"..
Then there is the problem of using that gold/silver. Sure, there will be black-market transactions, but we're not going to walk into a store and pay for food with gold. It won't be permitted and if you're caught, you can expect a SWAT team to arrive at your premises in short order..
The Banksters have us by the balls.. We loan them money (some call it depositing and saving) and for the effort we receive Zero interest, or even worse, have to pay for the "honor" of loaning that money to them..
It may sound contrarian, but cash may actually wind up being the black-market medium of choice, given the current level of control that the Central Banks and Gov't have. It's much easier to hide cash and metal detectors won't find it. And sure, X-ray tech might reveal a cache of cash, but that's expensive and time consuming..
I wonder if this will create a boon in Hawala money transfers?
Scrutinizer
Holter recommends storing pms in non-bank depositories: "As for storage, don’t have it all in one place, one country or institution. Only keep as much on hand as you are willing to lose by theft or a gun stuck in your wife’s mouth."
http://blog.milesfranklin.com/the-great-silver-debate/comment-page-1#com...
"...Our clients are buying gold for wealth preservation purposes, not as an investment and not to speculate. They hold gold as insurance.”
http://usawatchdog.com/risk-unprecedented-in-bubble-land-egon-von-greyerz/
I'm not sure I quite agree with the concept of door-to-door confiscation. Outlawing it, sure, and thus driving it totally underground and in effect making it legal to seize any that shows up. But I think they'll be pretty busy with other things for quite a while and by then you will have either made up your mind to submit or to resist.
Nothing is impossible to a State that has become Insane and is no longer answerable to any Law. There are plenty around us,
I do agree that the government and the Constitution have become seriously disconnected, but fortunately we retain the "Ultimate Argument of Kings" in our personal possession thanks to our wise forebears.
We may get a shit sandwich for lunch like everyone else on the planet, but we'll be the ones serving dinner to our oppressors sooner or later.
They will try. And some sheep are so easily scared and herded, some holders of gold and silver will indeed obey like the fair-weather morons they are. But not everyone, for several reasons. First, most people who hold physical gold and silver today know what happened in 1933, and clearly understand any repeat is pure, unadulterated predatory abuse. The fools in 1933 were unsuspecting, trusting and thought what they were doing was patriotic. Virtually zero gold holders today would even imagine that today.
The moment they announce, a huge number of people will be taking camping trips complete with shovels and heavy metal. And they will return with shovels, having left their stash where they assume no authority could possibly find it.
I'm long term bullish on metal detectors.