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Guest Post: The Central Banking Theater of the Absurd
Submitted by Charles Hugh-Smith of Of Two Minds blog,
The astounding hubris of central bankers is comical, but the consequences of their actions are playing out as needless tragedy.
Central bankers present themselves as Masters of the Universe. They are, but only in their own little Theater of the Absurd. In the real world, they are as clueless as any other mortals about the unintended consequences of their actions and the speed with which the corrupted, unsustainable financial Status Quo will decay and die.
The only attribute they possess in abundance is hubris. Their claims to godhood are comical when viewed in their little Theater of the Absurd, but they become tragic when the consequences of their actions play out in the real world.
Their job, such as it is, is to deflate a tottering system based on phantom assets slowly enough that it doesn't implode. Stripped of mumbo-jumbo, their strategy to accomplish this is to inflate other phantom assets to replace the phantom assets that are falling to zero.
All their promises, preening and posturing boil down to patting their breast pocket and speaking vaguely about a "secret plan" to end the crisis without bringing down the system that spawned the crisis as a consequence of its very nature.
There is no secret plan, of course, and no secret financial weapons; all they really have is artifice and the hubris to present artifice as reality.
To admit the usustainable is not sustainable would bring the entire rotten edifice crashing down, so the central bankers invite us into their little Theater of the Absurd and evince a phantom confidence in their phantom solutions that depend on phantom assets.
A swollen cloud of doom hangs over the central banker's little Theater of the Absurd; all their chest-pounding hubris and empty confidence is artifice, as phantom as the assets they claim will replace the phantom assets that have been destroyed by exposure to reality.
On their absurd little stage, they claim the Emperor's robes are thick and fine; and we laugh, bitterly, for these threadbare lies are all they have to "save" a parasitic, predatory, anti-democratic financial Status Quo.
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clowns bitchez!
Where are the stock symbols for the Federal Reserve and ECB? I want to short them. Are they GLD and SLV?
AAPL and NFLX.
To short the FED, all you have to do is take physical possesion of Gold, Silver, Palladium, Platinum and/or Rhodium.
That would make a good T-shirt:
SHORT THE FED...
TAKE PHYSICAL POSESSION
WilliamBanzai7 I hand the torch to you...
You didn't that business. Central bankers built that business.
http://tradewithdave.com/?p=11261
its a good system wreck the economy (1930's) then wait till those peole have moved on and change the rules (repeal of glass stegal) and repeat it again..menawhile our freedoms are being eroded..
Mark to myth keeps unpayable debt alive . . . and the blood flowing from the real economy to the parasites who hold it.
too kind. they are criminals.
Criminals can think like that too.
they masquerade as clueless while they steal trillions.
not just garden variety criminals. The Central Planners are responsible for massive theft, untold misery and death in the wars they support and perpetuate, and the destruction of peoples and societies.
The Nazis tried for War Crimes at Nuremburg pale in significance when compared to the Central Bankers group rampage over the last 100 years.
Even the almighty Central Banks cannot overcome consumer misery and thousands and thousand of pages of regulations that discourage businesses.
http://confoundedinterest.wordpress.com/2012/07/29/the-feds-fomc-decisio...
Frankly, I'm sick of hearing businesses moan about "uncertainty" and "over-regulation". What businesses want is guaranteed profit, plain and simple. Unless they get that....they bitch about the Gov't. That's BS.
Please put down what you're smoking. It's affecting your brain, and what is coming out of your mouth is idiotic.
Fuck off, Republican, he's right.
I'm a Libertarian Anarcho-capitalist in the Rothbardian tradition you Statist dumbass.
In your world, if you're not a Dem you're a Rep. Both parties are full of Progressives Statists, but your narrow little mind can't see reality through the goggles of your lefty propaganda. Dumbass kool-aid drinker.
sign up and make this go viral folks
http://dailybail.com/home/bankers-behind-bars-petition-to-put-bankers-in...
Any kid can master the game of "Monopoly" or "Life," but don't think you're gonna translate that to success in real life. These central bankers are trying to do the same thing. Problem is, I didn't get the chance to opt-out of the grand experiement.
The "Go to Jail, Go directly to Jail", cards & board spaces are replaced with "Bank Error in your Favor" & Free Parking in the bankers version of Monopoly...
Monopoly's a different game when you have a color copier behind you.
Monopoly is a rather simple game to win...
Before the game starts, 'collude' or secretly conspire with one other player that as the properties get sold to the various players, that each of you will separately buy those properties (paying slightly more than face value, or by exchange) if they should arbitrarily fall into the hands of other players... The ORANGE properties (St. James, Tennessee, & New York) should be most highly coveted... Nobody would SELL those properties to you (to help you create a Monopoly), but if you have a secret deal with another player, you can collect what you need on your own (while your partner does the same), then pull the trigger in a deal when the time is right... At the end of the day (& after all the muppets have been laid asunder by the control over the board that you have with your partner), you just agree to chop the total rake with your secret partner...
This, in real life... is known as the JECKYLL ISLAND strategy...
.
It's not the financial status quo that will die. Their mission is to make sure it's the rest of humanity and genuine Liberty with it.
Michael Hudson: The Road to Debt Deflation, Debt Peonage, and Neofeudalism
http://www.iadb.org/intal/intalcdi/PE/2012/09985.pdf
I don't care anymore as I've booked a flight with the nearest UFO to mars...
Only God and Central Bankers can create something from nothing. It must be very cool to be God-like.
It isn't 'nothing': The debt is 'real' in the way taxation and misallocation of economic resources impact society.
So the 'money' that was the basis of the debt came from where, exactly?
From other (preferably future) debt, of course.
Not so, artists and programmers do it all the time.
Certainly, we all have the ability to create in our minds, but can an artist create paint and canvas from nothing? Likewise the programmer cannot create an computer from nothing.
Central bankers create physical wealth from thin air. it is truly God-like.
Just because "God" rhymes with "fraud" doesn't make the two the same.
The entirety of the past four years has been a theater of the absurd. But the previous eight years was absurd, and the eight years preceding that.
Life has become absurdity.
Actually more clinical insanity. The sane have been overtaken by the insane, somehow changing the status quo. A system built on rules, ethics, and sound principles has been replaced by lies, deceit, cheats, and hypotheticals.
A product that doesn't exist can net a startup more money than a company that has been developing a new product for years that has real working prototypes. Hype is now worth more than concrete proof.
The market trades on a fantasy future than can't ever exist.
Fantasy is very important for US citizens. More and more, US citizens need fantasy to mediate between them and reality. Propaganda is no longer enough.
US citizens are not people who want to know. US citizens are people who want to believe.
Anyone who makes a career's choice based on knowledge makes a poor choice in a US citizen society.
Anyone who makes a choice of a career based on belief makes a good choice in a US citizen society.
Better to be a salesman of fantasy in US world order than an investigator of truth.
The way it works.
US world order.
If missing the boat was the objective, This post hit the jackpot.
The kookery of the imaginary world which AnAnonymous inhabits knows no bounds.
Delusions of Grandeur Federal Open Market Committee
Way or another this absurd will end
Wall Street not just devastated U.S. economy but turned U.S. into evil empire, hated by the whole world – even by West Europe and Canada too
I think we all agree the financial ponzi is unsustainable.
A few of us also understand that everything else around us is also unsustainable. Fosil fuel, groundwater, topsoil, fisheries, we're fucked.
We?
Nope.
The concentration of wealth can go a long distance from this point.
All it takes is to reduce the class that has been the fattening class during the ascending expansionist phase of the US world order: the US citizen middle class.
I detect a recurring theme in your posts today.
Today?
He's been banging his head on the same coconut, with algebraic precision, for many months. His meanderings are a roller coaster ride of insanitation, and the closed loop track has, at the very most, one or two points with a tangential connection to reality.
How much is left to reduce of USA expansion phase middle class?
In 1960 average USA middle class worker with "good" factory job, or average corporate or government job could afford nice house, two cars, nonworking spouse, four or five kids and college for them, and would retire comfortable with a good pension and substantial investments. Many, if not most, who did this were not college educated. Today a person who can do this usually needs elite college degree and income in upper 10%, or has inherited wealth. This is no longer middle class.
The planet will forget we were ever here
It's dumb matter.
It never knew.
Summer of 2012 will go down as one of the greatest moments in central banking history, when Draghi and Bernanke accidently stumbled across the greatest policy tool ever devised:
JAWBONING
It's working for now. There sure seem to be a lot of stupid people out there that are easy to manipulate by the fed. Puppets on a string.
Jawboning ? I thought that was your policy tool ?
Do you mean gumjobing?
It is always very funny when US citizens forget of their own nature.
US citizens are duplicitous. They dont declare their objectives, and prefer to hide them under the guise of freedom, truth and justice.
This is what this US citizen author wants to forget. Once more.
How does this US citizen author infer the incapacity for US citizen central bankers to know the unintented consequences of their actions?
He does this by comparing consequences with the alledged self proclaimed by central bankers objectives.
Here's the failure: as US citizens, they are duplicitous and the declaration of their objectives do not correspond with their sought for objectives.
US citizen central bankers might as well know very well a large share of the so called unintended consequences, looking for them and achieving them.
It is like measuring the US of A through the scope of freedom, truth and justice because those are the self proclaimed objectives of the mecca of US citizenism, the US.
When you measure the US of A's achievements to the scale of coercion, extortion of the weak, farming of the poor, propaganda and injustice, the measure is one of a very deep, unarguable success.
Slightly off topic but. With CDO's and the system of trenching, if a deal goes tits up does the bank get away with paying the worse of the debt because they are pretty much guaranteed a bailout? If Im talking shit please hit the ignore button on the left.
Why is it that in the face of all the bankers' machinations and the devastating consequences of their god-play, people invariably conclude that all this must be due to incompetence and ignorance? Do they really believe that they are 'clueless' or is it that the alternative is just to horrific to contemplate; that their actions are deliberate and the consequences are intended? Anyone recall the statements made by Mark Carney regarding the "canon-fodder that unfortunately inhabits this planet" and how the rabble will not understand what it is we (bankers) are trying to accomplish for humanity?
A lion makes a meal out of its prey without understanding anything about what it is doing. To the lion, that is 'success'.
Same for banksters vis-a-vis humanity.
Hitler started WWII, but became delusional toward its conclusion.
Hitler said, “Secret Weapons” would save the day.
Banksters started the financial crisis, but are becoming delusional toward its conclusion. Banksters say, “Secret Plans” will save the day.
See any parallels? The only difference I can see is banksters will not display “Hitler’s balls”—at the end.
Hitler had bankster help. One significant banker helper was named Bush.
Looks like Iran knows how to take out the trash,
cant have that now can we?
Four sentenced to death over $2.6bn Iran bank fraudhttp://www.bbc.co.uk/news/world-middle-east-19045737
He should really gte a thesaurus and check into some synonyms for "absurd".
Unfortunately the "masters of the Universe" are anything but clueless.
I'm still perplexed by articles like this. Does the author not understand the big picture? The destruction of the economy is orchestrated. The bankers are not going to lose anything, They are going to increase their ownership of everything. Real wealth does not disappear, it's transferred to someone else. As you witness people becoming poorer, ask yourself where did their wealth go? It went to someone else.(bankers, government etc)
What's happening now is not due to incompetence as Peter Schiff, Marc Faber and Jim rogers like to tell us, it's the semi final protocol to the most ambitious plan in history and it seems to be working exactly as planned.
Strange indeed that even the financial community's most vehement critics don't seem able to grok the real deal.
Makes you wonder if it's true that people only understand what pays or threatens their own spot.
+++ and a thumbs up!
Somebody gets it.
Solid post.
Michael Hudson was the first to predict the housing meltdown (at the national level) back in March, 2006 and said it was engineered:
The New Road To Serfdom
http://michael-hudson.com/wp-content/uploads/2010/03/RoadToSerfdom.pdf
http://www.ronpaulforums.com/showthread.php?192011-The-New-Road-to-Serfd...
The EU ombudsman has launched an investigation in to Draghi for conflict of interest due to his membership of a group of banklobbyists.
I dont think any cabal is actually smart enough or able to obey any set of rules where greed and suspicion etc are allayed enough to act in concert over the years that it took to create this shitshow. It seems to me that all is vanity. I would like to be apart of the solution though so far I have only seen micro models of sustainable systems using a commune like model. Only what is needed is taken from the environment and replaced all food is grown locally and labor is destributed in barter like ways but this cannot take place in any micro level without a MAJOR reset or can it?
GHOST RIDERZ......
http://www.businessinsider.com/the-state-pension-funds-in-the-most-trouble-2010-10?op=1
And Now, Here's The First 11 State Pension Funds That Will Run Out Of Money
TANSTAAFL !
Everyone knows this instinctively. Except bankers.
Could that be because they invented the free lunch?
Now they're simply perfecting it. Of course, it isn't free in the fundamental sense . . . which means it's stolen from somebody else. Everybody else, as it turns out in the debt/interest society.
THe CBs are not dumb
They are playing everyone for suckers and are no doubt astounded - when they have time to stop laughing - that the gullible masses still look to them for "solutions".
Ditto the Govt.
The politicians and the Central Bankers only work for the Wall Street and the bankers and make rules only to help those who are useful to them because bankers place their own ex-employees on key powerful positions around the world.
They bail out the bankers and the rich corporations (who should not be in business because of their incompetencies) without even changing their previous management because they fund the election campaigns and also place them in their organisations at exorbitant salaries once they leave office. This class alongwith the rich individuals pay the minimum amount of tax while getting the maximum benefit of the tax collected from the rest of the population in the form of bailouts.
The rest of the population is least of their concerns. The only activity they do is pacify the majority of the population using false statistics and promises of a better future so that they do not lynch them and their masters while they are robbing the taxpayers.
www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in
The City of Man
http://shutupnsing.wordpress.com/2012/07/31/the-city-of-man/
If u wil notice the solutions presented are outside of fiat currency realm and thus cb's are irrelevant