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  #301  
Old 12-23-2013, 03:22 AM
Danny B Danny B is offline
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The end of Western gold.

I've posted lots of info about gold. There is extensive documentation that the price is manipulated. There is extensive proof that the gold moved from West to East. Now, the mainstream news has reported that the gold is GONE.
Bloomberg: London Gold Vaults Are Virtually Empty, All the Gold Has Been Transferred to Hong Kong! | SilverDoctors.com
OK, the gold moved for a reason. What is that reason?
More importantly, what happens when there is no more gold in the West?
Hundreds of tons a week are leaving. It is a very recent phenomenon.
My Blog

The gold stocks are at a new low point;
Weekly COMEX Gold Inventories: Gold Available For Delivery Hits New All-Time Low - World News Report

When the gold stops,,, what else stops?
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  #302  
Old 12-24-2013, 05:16 AM
Danny B Danny B is offline
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various predictions

Here is the news from Pastor Williams;
"it will mean the US dollar will be reset down by 30% of its current value. He says that bank holidays are still another year off and that 30-50% of private, state and federal retirement funds are to be nationalized and/or confiscated between now and then."
Lindsey Williams ~ The Global Currency Reset by The Elite in 2014 | THE FINANCIAL ARMAGEDDON BLOG
He's talking about this taking place Q2 2014

Gerald Celente of Trends Research says that it will crash by march 2014;
GERALD CELENTE 2014 Forecast ~ The Whole Thing Will Collapse by The 2nd Quarter of 2014 | THE FINANCIAL ARMAGEDDON BLOG

Jim Willie says that we will get a 50% devaluation of the dollar;
http://www.24hgold.com/english/news-...Willie+CB&mk=1
Jim also says that America will continue with our current dollar and it will be backed by gold and used for international trade. We will also have a domestic dollar that will not be backed by gold.

Adrian Salbuchi said much the same about 2 currencies.
This 30---50% devaluation will cause a commensurate rise in prices for many things. As prices go up,,, which is actually wages going down, people will restrict their spending to just essentials. The reduction in discretionary spending will erase much of the consumer economy. Imports will be much higher since balance of trade deficits will need to be settled in gold.

42% of house sales are now done by cash buyers. They plan to rent them. With spending power cut in half, that doesn't look like a good bet.
BUT, don't worry. U.S. GOV is backing the loans on a very high % of residential RE. They will have the final say on whether you get kicked out or not. It all depends on whether you have been naughty or nice to your uncle.
I hope that you haven't said anything negative about those worthless imbeciles in the district of corruption.

If you need any help on suggestions for stocking stuffers for Christmas, I have one. Buy those solar panels before the (effective) price doubles. Energy use is down in America. Energy producers have had their bonds downrated to bbb. That is bad. Their cost for credit will go up. Their business is going down and their revenues are falling. They need a serious price increase.
Clean Energy Presents "Perfect Storm" For Utilities | Zero Hedge
Keep in mind that a dollar devaluation will raise the cost of imported oil and uranium. It won't affect natural gas as much. Same for coal. Every rise in the price of energy reduces the money available to be spent in other sectors of the economy.
There is a 500% increase of Chinese purchases of American real estate so, evidently, they expect to see a U.S. default.
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  #303  
Old 12-25-2013, 07:04 PM
Danny B Danny B is offline
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Over saving and under consumption

Over the last several centuries, there has been a decrease in barter and an increase in the use of barter substitutes. There has been an ongoing attempt to understand currency and other instruments. There are lots of different schools that all claim to have a good understanding of these various instruments. MMT,,, modern monetary theory has a lot of ideas, both good and bad.
Many decades ago, there were many notable people arguing their ideas. Keynes is well known. Hobson was another interesting person. His ideas may be relevant to the problems in Japan today.

"Hobson was one of those rare social reformers who used economic theory as a foundation for his proposals. He rejected the classical and neoclassical ideas that pure competition is the typical market situation and that a harmony of interests prevails, and that led to a program of reform, largely through government intervention, which broadly interpreted may be considered welfare economics. THEORY OF UNDERCONSUMPTION

In the 1880s Hobson developed the idea that underconsumption and oversaving lead to overinvestment—a concept that later won him Keynes’s acclaim. The central problem of our society, proclaimed Hobson, is the recurring unemployment of labor,
capital, and land. As early as 1889, he and Mummery argued against the classical HOBSON doctrine that the more thrifty a nation is, the more wealthy it becomes. On the contrary, they said, an increase of capital requires a subsequent increase in the consumption of the commodities that will be produced by that capital. If people wish to save more now, they must be willing to consume more in the near future.

If they persist in saving now and attempt to invest their savings without adequately increasing their consumption in the near future, the actual formation of new capital will be limited: Our purpose is to show . . . that an undue exercise of the habit of saving is possible, and that such undue exercise impoverishes the Community, throws labourers out of work, drives down wages, and spreads that gloom and prostration through the commercial world which is known as Depression in Trade; that, in short, the effective love of money is the root of all economic evil. . ."

" We are thus brought to the conclusion that the basis on which all economic teaching since Adam Smith has stood, viz., that the quantity annually produced is determined by the aggregates of Natural Agents, Capital, and Labour available, is erroneous, and that on the contrary, the quantity produced, while it can never exceed the limits imposed by these aggregates, may be, and actually is, reduced far below this maximum
by the check that undue saving as the consequent accumulation of over-supply exerts on production; i.e., that in the normal state of modern industrial Communities, consumption limits production not production consumption. . . .Reaching our main conclusion, that the undue saving of individuals impoverishes the Community, simultaneously lowers Rent, Profit, or Interest and Wages, we contradict the generally accepted dogmas that the saving of the individual seeking his own
advantage necessarily works for that of the Community, and that wages can only rise at the expense of profit, or profit at the expense of wages, or both at the expense of rent."
------------------------------------------------------------------------------------------

Michael Hudson writes,
"Economies change their shape as they grow. This shape is distorted by the inherent tendency for financial claims – bonds, bank loans and other financial securities – to grow more rapidly than the economy’s ability to carry them, much less to pay them off. The volume of such claims tends to grow by purely mathematical principles of self-expansion, independently from underlying economic trends in wealth and income, and hence from the ability of debtors to pay.

The task of economic regulation is reduced to setting an appropriate interest rate to keep all the economy’s moving parts in equilibrium. This interest rate is supposed to be controlled by the money supply. An array of measures is selected from the overall credit supply (or what is the same thing, debt securities) to represent “money.” This measure then is correlated with changes in goods and service prices, but not with prices for capital assets – bonds, stocks and real estate. Indeed, no adequate statistics presently exist to trace the value of land and other real estate.

The resulting economic models foster an illusion that economies can carry any given volume of debt without having to change their structure, e.g., their pattern of wealth ownership. Self-equilibrating shifts in incomes and prices are assumed to enable a debt overhead of any given size to be paid. This approach reduces the debt problem to one of the degree to which taxes must be raised to carry the national debt, and to which businesses and consumers must cut back their investment and consumption to service their own debts and to pay these taxes."

can carry any given volume of debt
Well, we can see how that is working out.

Assuming that Hobson is "correct" what does that imply about savings? More specifically saving by the rich? The six heirs to Walmart are said to have as much wealth as the bottom 40% of the population. Their money is locked in savings and investments and does not circulate in the economy. The bankers extended credit farther and farther to consumers to make up for a lack of wages/consumption power. We have reached the point where the debt-service cost makes it impossible to extend any more credit.

What about all that money that is locked away? Doesn't it throw the economy out of equilibrium?

---------------------------------------------------------------------------------------

From Hudson again,
"Rising productivity would raise wages and living standards, enabling people to work shorter hours under more relaxed and less pressured workplace conditions."
"Why hasn’t this occurred in recent years? In light of the enormous productivity gains since the end of World War II – and especially since 1980 – why isn’t everyone rich and enjoying the leisure economy that was promised?"

"It reflects something that only a very few economists have worried about over the past century: the prospect of debts rising faster than income, leading to financial crashes that transfer property from debtors to creditors"
"Nearly all observers expected the fruits of technology to trickle down, not be siphoned up to the top, to the banking sector whose “financial engineering” played no directly technological role in the production process. Textbook models describe – or rather, assume – that rising productivity will be passed on to labor in the form of lower prices (reflecting falling costs of production, enabling wages to buy more) or, if prices are “sticky,” higher wages."
Productivity, The Miracle of Compound Interest, and Poverty | New Economic Perspectives

-----------------------------------------------------------------------------------------

Hobson;

"According to Hobson, labor typically gets its subsistence costs, but does not
receive the full costs of growth. In other words, higher wages generally increase the efficiency and productivity of labor. There is too much saving and not enough consumption because of the failures of competition among businessmen to work effectively toward raising wages and lowering property incomes. Because capitalists’ incomes are too high, they save too much. They are motivated not only by the desire to consume now or in the future but by the urge to save and invest—to accumulate wealth—as well. This accumulation of wealth is possible only if the demand for consumer goods increases. "
-----------------------------------------------------------------------------------------

"A 2012 report from the Tax Justice Network estimated that between USD $21 trillion and $32 trillion is sheltered from taxes in unreported tax havens worldwide."
Tax havens: The missing $20 trillion | The Economist

The capitalists want to lower wages to increase profit margins. They lowered our wages at the same time that we increased productivity. They stashed their increased profits out of both taxing and circulation. They are only very slowly beginning to appreciate the fact that all that debt money that they have accumulated is a CALL on future productivity. That future productivity is dependent of future CONSUMPTION.
There is no profit or taxing if there is no production/consumption. No wages,,, no consumption. As the parasitic taxes are raised, consumption falls. If GOV prints currency, wages are effectively depressed.
You get the idea; inadequate wages, no tax or profit.

GOV is printing currency to give the banks a substitute for the profits that have faded away. This particular fascist business model doesn't have any future. The Socialist business model is equally destructive. The fascist model concentrates only on productivity. The Socialist model concentrates only on distribution ( consumption).
At this moment, these 2 models are tearing us apart in trying to gain control.
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  #304  
Old 12-26-2013, 06:05 AM
Danny B Danny B is offline
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CBOE's SKEW index

Here is a cute little graph;
http://www.infiniteunknown.net/wp-co...SKEW-Index.jpg
"CBOE's SKEW index does just that,
based on the pricing differences between normal and fat-tail risk pricing in the options market, it provides a
measure of the market's belief in extreme events... and for only the 4th time in history, it's flashing a big red warning signal of volatility ahead."
http://gordontlong.com/reports/rpt-M...Supplement.pdf
Another graph that suggests that mid-january will bring extreme volatility;
http://www.hussmanfunds.com/wmc/wmc131125j.png
The big problem with volatility is that nobody can predict if they will make a profit or not. They stay out of the market. This further lowers the velocity of money and brings more deflation.
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  #305  
Old 12-29-2013, 07:10 PM
Danny B Danny B is offline
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Default is in the winds

Corporate profits are at an all-time high.
Forbes reports that the S&P 500 companies are at an all-time low at funding their in-house pensions. American corporations are sitting on $ 1.45 trillion in cash with $ 840 billion held overseas.
U.S. Companies Stashing More Cash Abroad As Stockpiles Hit Record $1.45T - Forbes
Why won't they fund their own pensions?

Another strange deal;
,,,,," Verizon Communications Inc. to Apple Inc. borrow unprecedented amounts of money to expand and reward shareholders."
"December 24 – Wall Street Journal (Steven Russolillo): “U.S. companies are showering cash on shareholders, powering the stock market’s record-breaking rally. Share buybacks and dividends are reaching levels unseen since before the financial crisis, as persistent economic uncertainty prompts cash-rich companies to reward shareholders rather than invest in other activities"
The Prudent Bear: 2013 in Review
Companies are borrowing tons of money to pass out to shareholders because/even though earnings are low or gone.
Is the party almost over?

The Dow index seems to be down for the end of the year;
The dow is down 12 percent! Fri, Dec 27, 2013, 10:50AM EST | PoliticalJack.com
U.S. GOV sold off OUR silver years ago and has now sold off OUR gold.
Many smart and influential people have warned that GOV will seize the pension funds. Government Will Seize All Pension Funds Globally – In the US that will Include 401Ks | Armstrong Economics

It's happening in Europe and Russia said that it will seize the funds temporarily.
European nations begin seizing private pensions - CSMonitor.com

So, the smart money won't put anything aside for pensions,,,, where it is sure to be stolen. They shift everything to bonuses and dividends. It will be harder to steal from numerous small accounts that one giant fund.
GOV is going to declare Force majeure and cancel contracts and obligations. There are 10 quadrillion worth of contracts denominated in dollars worldwide.
If GOV has no gold or silver, the international courts can't demand repayment in precious metals. The B.I.S. settles ONLY in gold. They (we) sold it all to pay ongoing expenses. Not only did we sell OUR reserves, we sold the reserves of other countries.

Germany believes that it owns 3931 tons of gold. They demanded repatriation and we sent them 37 tons in a one year period. Much of Their gold is stored deep underneath the Federal Reserve Bank of New York.
This bank is directly across the street from the giant J.P. Morgan vault and,

" Chase Plaza (now the Property of JPM) is linked to the facility(FED) via tunnel... I have seen it. The elevators on the Chase side are incredible. They could lift a tank."
Why Is JPMorgan's Gold Vault, The Largest In The World, Located Next To The New York Fed's? | Zero Hedge
A Look Inside the Secret Tunnel Connecting JPM's Gold Vault to NY Fed | SilverDoctors.com

The party is winding down and somebody has to pay the bill. Our dollar is backed by the "full faith and credit" of the U.S. GOV. That has a "ring" to it, like ,,, hope and change.
We maxed out our credit card. Default comes next.
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  #306  
Old 12-31-2013, 05:18 AM
Danny B Danny B is offline
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This is the market capitalization for the U.S. stock market for the last 4 years, not including 2013;
15,077,285,740,000 17,138,978,000,000 15,640,707,100,000 18,668,333,210,000 (2012)
U.S. shares are up roughly 30% in 2013 so the final numbers for this year should be quite high. Earnings are down so, where is all the money coming from to cause the rise in price.

"The U.S. Treasury needed to pay off a record of approximately $7,546,726,000,000 in maturing Treasury securities in fiscal 2013,
"During the same period, the Treasury turned around and issued another $8,323,949,000,000 in new Treasury securities. "
"The Treasury’s medium- and short-term low-interest notes and bills accounted for about $9,278,245,000,000—or 80 percent—of the government’s $11,577,400,000,000 debt held by the public."

U.S. GOV has to roll over more than $ 7 trillion a year. This is a problem because our total debt is over 100% of GDP. The FED claims to be buying only $30---$40 billion of GOV debt a month. This is, of course, a lie. The FED is buying over 90% of newly issued U.S. debt. All the debt has moved into short-term paper and it takes a LOT to roll it over. If the FED is buying almost all new paper, what is happening to U.S. debt on maturity?

Jim Willie;
"The next year will feature many powerful new effects. The Indirect Exchange will become a prominent fixture, its channel filled. It will direct many $billions in USTreasury Bonds from large scale asset acquisitions by Eastern and BRICS players, sent back to New York and London. The payments for the asset purchases will be done in USTBonds, as the Eastern entities dump them as fast as they can before the great devaluation."

U.S. treasury paper is issued by primary dealers who sell it for GOV. Jim claims that all this paper that isn't being rolled over into new treasury debt will be presented to the primary dealers to buy stocks. This would account for stocks seeing so much inflow. The U.S. can default on U.S. bonds and notes but, it can't very well default against stocks.

The market cap grew $3 trillion 2011 to 2012. It is estimated that it grew 30% from the 2012 cap of $18,668 trillion. China had $3.4 trillion in it's sovereign wealth fund. They could have easily converted this to stocks without mentioning it. U.S. GOV wouldn't mention it because everybody would freak out. China is buying all the world's gold mine output. China is brokering much of the word's oil. Why not buy all the world's performing stocks?
2014 will be the year of the currency reset and gold backed trade note - National Finance Examiner | Examiner.com

On thursday, September 6, China announced that it would sell oil in yuan. The petro-dollar is coming to an end. Besides that, China said "on that day, our banking system is ready, all of our communication systems are ready, all of the transfer systems are ready,"
The West has a banking system called SWIFT. Several other nations got together and built an alternative system. The U.S. is excluded. Not only is the petro dollar dead, the Western banking system will bleed to death.
World trade will be conducted in Yuan. At the end of every month? ALL accounts of debit-credit will be settled in gold.

Currently, accounts are settled in new/more debt notes. Since no account is ever extinguished, the debt grows without limit. THAT is where the world finds itself at the moment. ALL Western banks will be instantly insolvent AND illiquid.
The rest of the world has an over-capacity in industry. They don't really need to import from us. If they demand gold for payment, there isn't much we can do. China will have an external Yuan that is gold convertible. The new banking system will be referenced to this yuan. SWIFT will go the way of the Betamax.
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  #307  
Old 01-01-2014, 05:41 PM
Danny B Danny B is offline
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monopolies, energy and the stauts quo

Happy new year to all.
Lord Acton said that power corrupts. You can't argue with that. As power concentrates from the level of dog-catcher on up to president, the level of corruption rises. Everybody wants an advantage over his fellow man. One of the best ways to gain advantage is to have a monopoly. GOV holds the monopoly on "legal" violence so, GOV is the best avenue for obtaining a legal monopoly. Mao said that all GOV authority comes from the barrel of a gun. You will need violence to maintain your monopoly whether it is a legal monopoly or an illegal monopoly.

If you want advantage, you must petition GOV for a monopoly. Since GOV is corrupt by definition, they are always willing to SELL you advantage that you don't merit. Since the average would-be monopolist can't very well walk around the halls of power with bags full of money, he must find a specialist.

The average congressman spends 30--70% of his time raising money to be re-elected,,,, so that he can continue to spend 30--70% of his time raising money. The specialist is the lobbyist. He passes money from the monopolist to the legislator. This cozy gravy train is perpetuated by the fact that about 50% of former legislators later become,,,, lobbyists.

Lawrence Lessig has a good talk about this.
Lawrence Lessig: We the People, and the Republic we must reclaim | Video on TED.com
Since the ultra-rich can be ultra generous to politicians, they can buy legislation to perpetuate their advantage.
Monopolies are perpetuated by legislative perpetuation of the status quo. Everyone from Tesla to Stanley Meyers created technology that would have disrupted the status quo of the energy structure that was the foundation of the power structure.

Since carbon energy is the foundation of the wealth structure, it is the foundation of the power structure that is used to maintain control.
History of British Petroleum:Â*PartÂ*I | LEFT HOOK by Dean Henderson
History of British Petroleum: PartÂ*II | LEFT HOOK by Dean Henderson

For small segments of society, the wealth is secondary and the control is primary. For lack of a more inspired name, I refer to these people as the "top puppeteers" TP for short.
The TP are obsessed with control. Obviously, a person obsessed with control must obsess equally with centralization. The Agenda 21 handbook that is sold and distributed by the united nations lays out much of the plan for centralization.
Agenda 21: Earth Summit: The United Nations Programme of Action from Rio: United Nations: 9781482672770: Amazon.com: Books

Big Government is the foundation of corruption. Small communities are the antithesis. Energy is the master resource. Manufacturing is the primary value-added industry. Society advances from price deflation. Price deflation brings a higher standard of living. Cities are the most energy efficient living arrangement because of extremely low transportation costs. Goods and people move very short distances.
Hmmmm, I need to break this up.
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  #308  
Old 01-01-2014, 07:06 PM
Danny B Danny B is offline
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Competition, price deflation and small communities

Mankind is ALWAYS competing. Therefore, he is always pursuing efficiency. The TP want to preserve the status quo. Mankind is pursuing efficiency. Increased efficiency is CHANGE. America used to be very competitive.
China;
China's innovators are making leaps and bounds. By 2015, they will graduate 17,000 postdoctoral fellows in science, math and engineering. That's a 60% increase from 2010.

They're building supercomputers that rival IBM's and 3-D printers big enough to print air wings. The Chinese also granted 217,000 patents last year — a 26% increase in the past two years alone."

Competition and efficiency are still marching along. This threatens the status quo. The PTB and the TP are trying to play whack-a-mole as new tech shifts the ground under their feet.
There are plans extant for building a 2150 sq. ft. house with a 3D printer.
DARPA has a device that will condense 30 gallons a day of pure water out of the air IN a desert enviornment,,,, with NO power input. A ZPE energy device would extend energy independence that is already available from solar power,,, and wind.
The energy efficiency enjoyed by the city is slowly being eroded away by tech advances. Transportation advantages enjoyed by cities will be reduced by 3D printing. Warehousing and transport will diminish.

With adequate price deflation, small communities will be more competitive and attractive. ZPE would make small farms competitive again if they were attached to local communities... negligible transportation costs.

The PTB work diligently to concentrate us in cities. The coming crash will prove cities to be non-viable... for the most part. Adequate tech advances will allow small communities to flourish. Hope for the best.
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  #309  
Old 01-05-2014, 05:23 PM
Danny B Danny B is offline
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Generational cycles and the rise of collectivism

Civilization and society seem to run in cycles. Elliot-Wave,,, Kondratieff.... Strauss–Howe generational theory. Part of the reason for this is the predator-prey relationship between the producers and the parasites. The producers create wealth and the parasites gradually increase their own standard of living until the producers can no longer maintain them or society.

The main focal point of this battle is PRIVATE property. The parasites call for communal ownership. The producers believe that private property rights must remain inviolate. History has shown that the producers stop producing when they lose the right to the proceeds of their own work.

The founding fathers knew this and spelled out property rights to insure the general prosperity. The parasites never liked this idea because it limited their personal prosperity. The collectivists have always been willing to crash general prosperity if it (temporarily) augmented their personal prosperity.
this process takes some time to develop so, history runs in cycles.

Blackstone describes the absolute rights of individuals as being our right to life, liberty and property. Jefferson took the editorial liberty of changing "property" to "pursuit of happiness,"
Fiedor: State of the Union, 1998

Since GOV is a non-producer, it is also the fountainhead of collectivism and parasitism. It should come as no surprise that GOV is in the business of stealing.
Humanity has rights. But they are not recognized by any govt. in practice, only by lip service. Humanity has to protect its rights from rulers, i.e., professional parasites who are empowered by their victims. The private sector parasites, criminals without sanction, are no problem compared to government. It follows, the victims are their own worst enemy because they create the biggest threat to themselves by giving up their power to a ruling elite. Usurpation of rights is what all governments do. It is the primary objective of rulers to rule. Ruling requires power, and rights restrict power. Weak governments make for strong society. The more powerful the govt. grows the weaker the society gets. Govt. will always seek greater power until it self destructs, taking its citizens down with it.

The only hope for humanity is to repudiate being protected by rulers. Self governance and self responsibility is the salvation of civilization. But that requires humankind to grow up and stop trusting a "big brother" to control life.
So, here we are in the fourth turning. Like the strangler fig, GOV has grown to the point where it is killing the host. The police state is an attempt to control the host. The police state can NOT force the host to be productive.
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Old 01-07-2014, 05:33 AM
Danny B Danny B is offline
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collctivism and personal responsibility

Man's nature is genetic selfishness. He looks after his family first. Collectivism demands that he looks after everybody. Collectivism has always failed. The non-producers want an ever-higher standard of living. It all goes bust because nobody wants to work for free. The parasites have no interest in taking personal responsibility. Personal responsibility is at the heart of a functioning society. If everyone is irresponsible, everything falls apart. A parasite has no regard for his host so, by definition, it is irresponsible. What happens when the parasites run the show?

Illinois vs Oklahoma
"A State with No Republicans!"

Some interesting data on the 'state' of Illinois ... There are more people on welfare in Illinois than there are people working. Chicago pays the highest wages to teachers than anywhere else in the U.S. Averaging $110,000/year. Their pensions average 80-90% of their income.

Body count: In the last six months,
292 killed (murdered) in Chicago . 221 killed in Iraq ; AND Chicago has one of the strictest gun laws in the entire US.
Here's the Chicago chain of command: President: Barack Hussein Obama · Senator: Dick Durbin · House Representative: Jesse Jackson Jr. · Governor: Pat Quinn · House leader: Mike Madigan · Atty. Gen.: Lisa Madigan (daughter of Mike) · Mayor: Rohm Emanuel · The leadership in Illinois - all Democrats. · Thank you for the combat zone in Chicago . · Of course, they're all blaming each other. · Can't blame Republicans; there aren't any! · Chicago school system rated one of the worst in the country. Can't blame Republicans; there aren't any!

State pension fund $78 Billion in debt, worst in country. Can't blame Republicans; there aren't any!

Cook County ( Chicago ) sales tax 10.25% highest in country. Can't blame Republicans; there aren't any!

This is the political culture that Obama comes from in Illinois . And he is going to 'fix' Washington politics for us?

George Ryan is no longer Governor, he is in prison. He was replaced by Rob Blagoyavic who is, that's right, also in prison.
And Representative Jesse Jackson Jr. Resigned a couple of weeks ago, because he is fighting to not be sent to... that's right, prison.
The Land of Lincoln , where our governors make our license plates. What?
As long as they keep providing entitlements to the population of Chicago , nothing is going to change, except the state will go broke before the country does.
"Anybody who thinks he can be happy and prosperous by letting the Government take care of him better take a closer look at the American Indian."

PART 2— Oklahoma


OKLAHOMA - may soon have plenty of new residents!

THIS IS REALLY INTERESTING, AND TRUE ... PLEASE READ IT!

Oklahoma is the only state that Obama did not win even one county in the last election... While everyone is focusing on Arizona ’s new law, look what Oklahoma has been doing!!!


An update from Oklahoma
Oklahoma law passed, 37 to 9 an amendment to place the Ten Commandments on the front entrance to the state capitol. The feds in D.C., along with the ACLU,said it would be a mistake. Hey this is a conservative state, based on Christian values... HB 1330

Guess what... Oklahoma did it anyway.

Oklahoma recently passed a law in the state to incarcerate all illegal immigrants, and ship them back to where they came from unless they want to get a green card and become an American citizen. They all scattered. HB 1804. This was against the advice of the Federal Government, and the ACLU, they said it would be a mistake.
Guess what... Oklahoma did it anyway.

Recently we passed a law to include DNA samples from any and all illegal's to the Oklahoma database, for criminal investigative purposes. Pelosi said it was unconstitutional SB 1102 Guess what... Oklahoma did it anyway.

Several weeks ago, we passed a law, declaring Oklahoma as a Sovereign state, not under the Federal Government directives. Joining Texas , Montana and Utah as the only states to do so. More states are likely to follow: Louisiana, Alabama, Georgia, Carolina's, Kentucky, Missouri, Arkansas, West Virginia, Mississippi and Florida. Save your confederate money, it appears the South is about to rise up once again. HJR 1003

The federal Government has made bold steps to take away our guns. Oklahoma , a week ago, passed a law confirming people in this state have the right to bear arms and transport them in their vehicles. I'm sure that was a setback for the criminals The Liberals didn't like it -- But.... Guess what... Oklahoma did it anyway.

Just this month, the state has voted and passed a law that ALL drivers’ license exams will be printed in English, and only English, and no other language. They have been called racist for doing this, but the fact is that ALL of the road signs are in English only. If you want to drive in Oklahoma , you must read and write English. Really simple.

By the way, the Liberals don't like any of this either Guess what... who cares... Oklahoma is doing it anyway.
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Socialism and collectivism are distribution systems. Since nobody takes responsibility for PRODUCTION, it dies out. The focus has to be on productivity first,,,before consumption.
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Old 01-07-2014, 03:46 PM
Danny B Danny B is offline
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Kunstler, Ilargi and Hedges

James Kunstler is a peak oil guy who has written a few books. He probably is correct when he predicts peak American oil, EXCLUDING ALASKA. He has a good article showing that diminishing returns on shale oil are wasting a LOT of capital.
Jim Kunstler's 2014 Forecast - Burning Down The House | Zero Hedge
There is plenty of oil in Central Asia, Coober Pedy, the oil kitchen, Kuwait, Iran, south China sea, etc. America can't afford to buy this oil. We are too deeply in debt.
In preparation for our impending impoverishment, the State is preparing to clamp down on all of our freedoms;
The Last Gasp of American Democracy | Common Dreams

Ilargi has written very good advice at The Automatic Earth. This article is part 2 of advice on surviving the coming credit collapse;
Smart Choices for the Coming Bust - Part 2 - The Automatic Earth

Money itself has been so distorted that a collapse of credit will bring a collapse of consumption. We saw just a hint of that in 2008. A collapse of consumption eventually brings a collapse of production. Already, we see big drops in the Manufacturing index
Kunstler projects a world where everything is made by hand because automated manufacturing is no longer viable. I doubt it.
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Old 01-10-2014, 05:07 AM
Danny B Danny B is offline
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Jim Willie,,, inflation

I found a page of good charts. One chart shows the " competition between deflation and inflation. Keep in mind that inflation is defined as an increase in the supply of currency AND credit.

" monetary inflation and deflation is currently working against each other:

Monetary inflation is the result of a parabolically rising monetary base M0 driven by the central bank monetary easing policy.
Monetary deflation is the result of shrinking monetary aggregates M2 and M3 because of credit deleveraging."
Inflation vs Deflation – Monetary Tectonics In 25 Amazing Charts | Gold Silver Worlds

When AIG went belly-up, it wasn't too difficult for GOV to get a Hundred billion $ electronically printed up. The current crop of Interest rate swaps are a different story. They are nominally valued at $ 441 trillion. They blow if/when interest rates return to normal.
Jim Willie; "But to print a few $100 trillion for aiding the big banks would be impossible. So enter the QE to Infinity initiative to come to the aid of the Too Big To Fail banks. Their failure cannot be prevented. "
Deceptions, Dupes & Dots
GOV can send liquidity to the banks but, if interest rates rise, the derivatives will still default.

Venezuela has high price inflation. The ordered merchants to sell basic foods at low prices. It sounded like a good idea BUT, all their food is being exported to places with higher prices. These are BASIC foods.
GOV says, "Colombian General Gustavo Moreno, director of the border police.
“consumerism is an addiction that destroys the human being.” Apparently, these people are addicted to eating every day.
Hunt for Food Sends Venezuelans to Colombian Border Towns - Bloomberg

OK, let's look at this closer. Venezuela has huge amounts of oil in the Orinoco basin.
Norway has huge amounts of oil in the North Sea. All Norwegians are millionaires due to their oil.
All Norwegians become crown millionaires, in oil saving landmark | Reuters

The birth rate per 1,000 people is 21.5 in Venezuela. The birth rate per 1,000 people in Norway is 10.8 Due to the compounding effect of a doubled birth rate, Venezuela can not grow the economy fast enough. The population is always growing faster. The economy can't provide the wealth to support all those new mouths. GOV prints to support them. Price inflation is at 56%. Sad situation.
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Old 01-11-2014, 06:03 AM
Danny B Danny B is offline
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Deflation and scarcity of paper money

There is a lot of speculation on whether we will see inflation or deflation. I found a great article to clarify the question. Some excerpts;
"What is logically implied in this “debate” is that spiraling inflation or crushing deflation are alternative scenarios; when, in fact, it has been patently obvious for many years that these two forms of economic cataclysm not only can be but, must be concurrent (if not simultaneous) scenarios."

"It is Mr. Williams who first made the quantum leap in analysis in noting as our debt-saturated economies crumbled towards collapse – and fiat money-printing increased exponentially as a result – that “inflation” and “deflation” were not competing scenarios. He coined the term “hyperinflationary depression”

"As the debts go higher and higher (which can only end in a deflationary crash); we see the money-printing accelerating at least as quickly, if not faster (which can only end in hyperinflation)."

"Where confusion about this hyperinflationary depression ahead of us seems to envelope other commentators – and simultaneous or concurrent inflation and deflation – is that it is possible for some asset-valuations to go straight up (to infinity) while others go straight down to zero (or less).

Specifically, this dichotomy will take place between paper instruments and hard assets. Any/every entity which is encumbered by the millstone of debt will plunge to zero. With somewhere in excess of $200 trillion in debt already floating around the global economy; the downward “suck” as all these debt-dominoes implode will reach an economic velocity never before witnessed in our history."

When Deflation Becomes Hyperinflation: SPDR Gold Trust (ETF), iShares Silver Trust (ETF) | ETF DAILY NEWS
All debt instruments can be duplicated with almost no limit. They will lose value. Tangible products are not infinitely duplicable and will hold value. A pound of coffee will always trade for the same amount of toilet paper. This is part of the law of supply-and-demand. Keep in mind that the law of S&D also applies to paper money. Only .04% of the U.S. money supply is in the form of paper.
Zimbabwe printed $trillion notes. Wiemar Germany printed trainloads of paper money. America hasn't done this. I expect paper notes to be very hard to obtain in a credit crash.
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Old 01-12-2014, 03:23 AM
Danny B Danny B is offline
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German gold

The story keeps getting stranger.
"Back in the mid-1920s, the head of the German Central Bank, Herr Hjalmar Schacht, went to New York to see Germany’s gold. However the NY Fed officials were unable to find the palette of Germany’s gold bullion. The Chairman of the Federal Reserve, Benjamin Strong was mortified, but to put him at ease Herr Schacht turned to him and said ‘Never mind, I believe you when you when you say the gold is there."

Fast-forward to 2 years ago;
"This FSB report further states that upon Strauss-Kahn raising his concerns with American government officials close to President Obama he was ‘contacted’ by ‘rogue elements’ within the Central Intelligence Agency (CIA) who provided him ‘firm evidence’ that all of the gold reported to be held by the US ‘was gone’.

Upon Strauss-Kahn receiving the CIA evidence, this report continues, he made immediate arrangements to leave the US for Paris, but when contacted by agents working for France’s General Directorate for External Security (DGSE) that American authorities were seeking his capture he fled to New York City’s JFK airport following these agents directive not to take his cell-phone because US police could track his exact location.

Once Strauss-Kahn was safely boarded on an Air France flight to Paris, however, this FSB report says he made a ‘fatal mistake’ by calling the hotel from a phone on the plane and asking them to forwarded the cell-phone he had been told to leave behind to his French residence, after which US agents were able to track and apprehend him."
Russia Says IMF Chief Jailed For Discovering All US Gold Is Gone | EUTimes.net Charles DeGaulle

The drama continues;
Bundesbank; "There is no reason why the original gold bars acquired in the 1950s and 1960s (if they ever existed at all, which has never been proven, as by publication of bar lists or photos) had to be melted down and recast into LGD-compliant bars in New York as opposed to Frankfurt."

The FED melted down these bars and recast them before delivery
"And especially: Why was it deemed necessary to perform this action in the United States as opposed to Frankfurt or nearby Hanau, where there are some of the best facilities in the world for metal probing, melting, and recasting? Had these actions been performed in Germany in a fully transparent manner, it would have been so easy for the Bundesbank to dismiss all questions from "paranoid gold conspiracy theorists."

Obviously, the FED didn't want any tungsten to show up in the melt
"the Bundesbank has again failed to produce any proof or indication that at least 37 tonnes (out of 1,500 tonnes of German gold at the New York Fed"
1500 tons of wishful thinking.
"It is still possible and even probable that the old German bars were lent into the market long ago or that they have multiple owners or are backing multiple gold exchange-traded fund derivatives. Of course the same holds for our remaining 120,000 bars at the New York Fed."
Yeah right,,, 120,000 bars that have NEVER had bar numbers.
Did the Bundesbank get even a little of its original gold back? | Gold Anti-Trust Action Committee

They also said that they are going to move 374 tons from Paris to Frankfurt. It's only 500 kilometers. They can make the trip in one day with a dozen trucks. Where is the German Gold? | SilverDoctors.com
Nothing out of Paris yet.

Germany asked to see their gold held in custody in New York. The FED said NO-WAY. Finally; "The German government then asked to visit the FED vaults to inventory the gold and determine its actual existence, but the FED refused to permit Germany to examine its own gold. The reasons given were “security” and “no room for visitors”. And nothing else.

Germany did finally send some staff to the FED, and they were permitted only into the vault’s anteroom where they were shown 5 or 6 gold bars as representative of their holdings, and were permitted nothing else."
In the 60s, Charles DeGaulle sent a navy ship to New York to pick up France's gold. Others followed and gold was flowing out at 100 tons a day. Nixon shut the window Aug 15, 1971.
Germany is screwed and they know it. The excuses from the FED are so pathetic, nobody legitimate would utter them.
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Old 01-12-2014, 05:03 PM
Danny B Danny B is offline
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Too many bankers,, not enough income

Banking is both lucrative and competitive. The business gets crowded until things go bust. 9400 banks went out of business after the 1929 crash. Post WW II was very productive and the number of banks grew proportionately. Then, America crashed into a low-wage competitor and our main value-added industries shut down and moved. This reduced the need for banks.

"According to the Federal Deposit Insurance Corp., the number of federally insured financial institutions fell to to 6,891 as of the end of September. That’s the lowest it has been since 1934, when federal regulators began tracking the number. In the past 30 years, more than 10,000 banks have closed because of mergers, consolidations or failures."
Number of U.S. banks drops to record low - CBS News

OK, pretty much logical. Also, the big banks have been continually rescued over the years.
The Largest U.S. Banks Have Repeatedly Gone Bankrupt Due to Wild Speculation. The Fed Blessed the Speculation then Helped Cover Up the Bankruptcies → Washingtons Blog
The business got too crowded and there was no money to be made. Recently, the banks "invented" derivatives to generate fees so they could survive when traditional sources of income were inadequate. These derivatives don't actually do anything productive so, they don't have a long-term future.
Several years ago, the bankers got the laws changed for Savings & Loan institutions. It cost the taxpayer a cool $ trillion to bail them out after the looting . There just doesn't seem to be enough wealth created to keep such a big number of bankers happy. Later, the bankers got the Graham-Leachy bill passed to remove the restrictions imposed by the Glass-Stegal act.

Once again, the bankers are trying to save themselves by throwing their debts on the backs of the public. America was in VERY good financial shape before we entered the great depression(1). At the moment, America is in very BAD shape as we enter great depression II. This is because the banker-initiated wars have bled the country dry in the runup to our falling off the current fiscal cliff. This will make the situation much worse.



Vice President Coolidge on the Obligations of Banking Institutions

There can be no permanent prosperity of any class or part. Such a condition can only be secured through a general and public prosperity. This means that to secure this end there must be a general distribution of the rewards of industry. Wherever this condition is maintained there you have the foundation for an increasing production and a sound financial and economic situation.

One of the strongest reasons for supporting American institutions is that under them this condition is more nearly attained than under any other form of government that has ever met with any permanent success.

You are assembled here representing banking institutions. Too often the uninformed think of a bank as the possession of a few rich people, and as the creditor of the people at large. You who have had any experience with banking know that it is the opposite of this which is true. The resources of banks are not the resources of a few rich, but the resources of the people themselves, small perhaps in any individual instance, but, in the aggregate, very large. Nor are banks exclusively a creditor class. It is usually true that they owe to their depositors more than their borrowers owe to them. Every banker knows that to depend on the business and patronage of the rich would be in vain, that if any success attends his efforts it must be by serving and doing the business of the people. The stock is generally owned by the people, the deposits are always made by the people. This is the reason that banks partake of the nature of a public institution and perform real public service. They are the sole means by which modern commercial activities can be carried on. They afford the method by which the people combine their individual resources, providing a collection of capital sufficient to extend the necessary credit for financing the whole people of the nation. They hold great power and are under the very gravest responsibilities. A bank is not a private institution, responsible to itself alone, or to a few. It is a public institution, under a moral obligation to be administered for the public welfare. In so far as this standard is accepted and followed, it is my belief that a bank will be prosperous; in so far as it is disregarded, it will be a failure. Any power which is not used for the general welfare will in the end destroy itself.

There is need of a more sympathetic attitude and cooperation between the banks and the people. Every such institution ought to realize the necessity of serving the public to the extent of its ability. A financial institution which takes advantage of no man's necessity, which assumes no unreasonable risks for the sake of unreasonable gains, which is able to know the personality of its customers as well as the value of its collateral, becomes an instrument of great value, and a contributor to a marked degree of economic contentment. Such an institution is doing the work of the people.

This condition has not yet been universally established, but it is being established. Nothing can tend more to promote it than to have the man in the shop realize that transportation and financial activities are being carried on for his benefit; that the railroad brings raw material so that he may earn a livelihood by making them into finished products; that the bank exists in order to furnish credit from which he receives a weekly wage, while those products are being sent far away and sold to the people. While the man in the bank needs to realize that his success lies in the freight-yard, in the manufacturing plant, on the farm, and in the mine as well as at the discount window. If all this were to be translated into one word, I should say it was the need of vision, need of a recognition of our interdependence, need of less destructive criticism and more constructive action, need of that spirit which has given character, fame, and fortune to New England, whether it has guided the plough or inspired the pulpit.

Calvin Coolidge, The Price of Freedom, Charles Scribner's Sons, NY, 1924.

- See more at: The Banks and the People | Calvin Coolidge Memorial Foundation | Plymouth, Vermont
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Old 01-15-2014, 04:07 AM
Danny B Danny B is offline
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IRS humor

The IRS is much hated. In an effort to boost it's image, it produced a couple of in-house videos. They were primarily for training purposes. The first vid carries the theme that we would have utter chaos without taxes.
IRS Star Trek Parody - YouTube

The second vid is just strange. Where do they find people to write this stuff?
Internal Revenue Service (IRS) Gilligan's Island Parody (2010) - YouTube
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Old 01-17-2014, 05:02 AM
Danny B Danny B is offline
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Venezuela Vs Chile

Time and time again, GOV tries the wrong approach to solving the problems of the poor. Venezuela tried to legislate forced support for the poor. This has never worked.
Watch the Movie Before it is Filmed - International Man
"Once a government has applied force and the force has failed in its objective, the government almost invariably reacts by applying more force—more of what caused the problem in the first place. The importance of this tendency cannot be overstated. "

Chile applied LESS GOV control and intervention. This resulted in a large reduction in poverty. Center for Freedom and Prosperity - The Chilean Miracle Shows that Economic Liberty is the Best Way - YouTube
Too many self-assured politicians who know that they have all the right answers.
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Old 01-18-2014, 03:52 AM
Danny B Danny B is offline
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Pure criminal control

Jim Willie has a doctorate in statistics and understands them very well. He has written about the impending crash for a long time. At some point, he was motivated to wrote a "Popular Manifesto" with 20 avenues that could be implemented to avoid the crash.
Popular Manifesto: Demand for Solutions | Gold Eagle
Jim started out believing that America was turning fascist. As time went by, it became more and more obvious that we were not under fascist control. We are under criminal control.
Gerald Celente has reported much the same.

Europe seems to be under the control of incompetents rather that criminals.
Farage: We Are Now Run By Big Business, Big Banks and Big Bureaucrats - YouTube
Goldman Sachs does have people in control in Europe but, it isn't saturated with criminals as badly as America.
The Europeans can more clearly see the writing on the wall. Americans just don't have a clue as to the exact reason for the collapse.
GEAB N°81 is available! 2014 –World political chaos, statistical «Â*smogÂ*», risk that the financial planet explodes… But solutions for the future continue to emerge

Both Great Britain and America are completely saturated with criminals in banking, Regulation and the judicial.
Keiser Report: Shrinkflation (E549) - YouTube
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Old 01-18-2014, 04:34 AM
Danny B Danny B is offline
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investors, food and collapse

As U.S. GOV became more and more insolvent, it attempted to become more controlling. It tried to control investors. Just the same, it's apparent insolvency drove investors out of bonds. GOV enacted FACTA to keep investors from taking their money out of the country. Another BIG problem is where the money flows to.
NOBODY wants GOV paper. Free money from the FED,,, sure. Bonds, no way. The FED is creating about $ 1 trillion a year. The "plunge protection team" is pumping lots of this into the stock market. Equities are going up even without earnings. Residential real estate is going up even though the average person can not afford the average house. GOV is doing all it can to keep the loose cash from flowing into commodities,,, especially food commodities.
The rest of the world spends a lot more on food than we do.
http://www.tutor2u.net/blog/images/uploads/food.png
Food prices go up and they riot;
http://3.bp.blogspot.com/-547eNEOs6K...2BViolence.png

The FED printed about $ 26 trillion to rescue debt and banks. GOV is trying to keep this wet-ink money from flowing into commodities. There is general agreement that equities are way overvalued. When the stock market blows, the investments must either evaporate or escape.
Gold is worthless, for the most part. The wealth could flow into gold without screwing up a market. Imagine if it flowed into wheat or rice.
U.S. gold is officially valued at $ 42.42 an ounce. U.S. GOV could revalue gold way up OR, it could let the investors flood the commodities market. Imagine if oil doubled and food tripled.
Every consumer market in the world would lock up. Things would become so dangerous on the streets that every under-paid cop and soldier would leave the force to look after his family.

The manipulators of the world depend on there being a LOT of guns between them and you. Gold, it will be.
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Old 01-20-2014, 03:26 AM
Danny B Danny B is offline
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Triffin's dilemma and gold

John Maynard Keynes stated that no sovereign currency could ever be the reserve currency because the originator would eventually over-print. In 1944 at Bretton Woods, representatives from 44 countries met to create a stable currency. They chose the U.S. dollar as a reserve currency because America had the most gold and had not been bombed.
The dollar would be gold linked. All other currencies would use the U.S. dollar as a backing for their currency. This would bring stability even though they weren't directly gold backed. Prior to the 1944 Bretton Woods agreement, central banks used gold as the asset to back their currencies.

As reconstruction gradually raised the standard of living in devastated countries, they began to produce excess wealth. This excess wealth was channelled into buying dollars as a store-of-value. The more wealthy a country became, the more dollars it demanded to buy.

Triffin;
"The obscure Belgian economist Robert Triffin is not only very dead he also isn't exactly a household name, yet. Triffin, who died in 1993 studied at Harvard, taught at Yale, worked at the Fed was a key contributor to the formation of the European monetary system. Triffin exposed serious flaws in the Bretton Woods monetary system and perfectly predicted it's inevitable demise yet his work remains largely ignored and unstudied by today's mainstream economists. This "flaw" became known as the Triffin dilemma, and many believe Triffin's dilemma has as serious implications today as it did 50 years ago. In short, Triffin proposed that when one nations currency also becomes the worlds reserve asset, eventually domestic and international monetary objectives diverge. "

Charleston Voice: Gold And Triffin's Dilemma
Keynes claimed that we would overprint. Triffin showed that the world would demand that we overprint.

Since the world demanded our currency, we sent them tons of it in exchange for their raw materials and manufactured products. We didn't need to manufacture,,, we could just print.

"The US Council on Foreign Relations aptly describes why Triffin's dilemma becomes unsustainable:

"To supply the world's risk-free asset, the center country must run a current account deficit and in doing so become ever more indebted to foreigners, until the risk-free asset that it issues ceases to be risk free. Precisely because the world is happy to have a dependable asset to hold as a store of value, it will buy so much of that asset that its issuer will become unsustainably burdened."

Have we reached the day when the United States has become unsustainably burdened? Can US debt honestly be considered to still be risk free?"

Congress voted to give most favored nation trading status to China. This brought in tons more outside wealth that could be absorbed by bankers and GOV. Sure, it hurt the little guy. It's not like anybody in the beltway cared. China sent us junk for dollars,,, and then sent the dollars back to us. We had a hellofa party. Wars and corruption as far as the eye could see.

Many countries are in the process of trying to pull away from the U.S. dollar. For the moment, they don't really have anywhere to go. It is not likely that we could return to a new Bretton Woods agreement because we KNOW that it will fail.
Guggenheim On Gold And The 'Unsustainable' Return To Bretton Woods | Zero Hedge

For a long time, the Swiss Franc was a very strong and reliable currency. BUT, every country that was a manufacturing country had to keep it's currency from growing too strong,,,, consequently losing market share to countries with a weak currency. The Swiss had to peg their currency to the Euro.
NO country can afford to have a strong currency, nor, the reserve currency.

States repeatedly experiment with paper money,,, and then, return to gold. Bankers repeated claim that there isn't enough gold to back all the paper money.
There was just too much wealth to allow gold to represent wealth at a fixed value / price. Bankers HATE gold because it extinguishes debt. They live to compound debt. Politicians hate gold because it prevents them from making promises in return for votes.

Paul Craig Roberts gives an explicit explanation of just how the bankers and politicians manipulate the price of gold;
The Daily Bell - The Hows and Whys of Gold Price Manipulation

They work VERY hard at manipulating the perception of gold because they can't manipulate the reality. The East isn't buying their BS. So, the gold is leaving. PCR lays it out pretty well just what will happen when the East-West flow stops.

Gold and silver are traded directly on the FOREX exchange as currencies. The FOREX trades $ 4 trillion every day. About 5,000 tons of gold are traded here daily. Keep in mind that yearly gold production is about 2500 tons. The Anglo-American bankers have stolen all foreign gold holdings. Bloomberg reports that the vaults are empty. They are sweeping the floors to keep from defaulting.

France hasn't sent back ANY gold to Germany. Don't worry,,, they will get it. Mali is the third largest gold producer in Africa AND,,, France just invaded.
ROBBING PETER MALI TO PAY PAUL GERMANY | WHAT REALLY HAPPENED
They were shipping tungsten-salted gold bars but, got caught. DON'T WORRY. "editorial from CNBC's Senior Editor Jim Carney that it didn't really matter if the bullion was really there at the New York federal Reserve, as long as the bookkeeping said it was! "

The movement of gold shows real desperation. One could surmise that an end to this movement will have serious consequences.
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Old 01-30-2014, 05:13 AM
Danny B Danny B is offline
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bummer links

Just a few links. 1 out of 7 Americans are on food stamps. 28% of them have some college training.
The Financial Demolition of America Continues « Just Wondering - Alternative News and Opinions Just Wondering – Alternative News and Opinions

Economists with no sense at all are saying that the economy looks fine to them;
How Junk Economists Help The Rich Impoverish The Working Class -- Paul Craig Roberts - PaulCraigRoberts.org

China has been doing a LOT of printing;
"Since Lehman Brothers investment bank collapsed in 2008, the level of private domestic economy credit in China, from the central bank, private banks and regional authorities downward, is estimated to have risen from $9 trillion to an astounding $23 trillion. That is an increase of $14 trillion in a little bit more than 5 years. "
COMING SHOCK: ‘GOLD CANARY IN THE COAL MINE’
Deutches bank has a LOT of exposure to Chinese debt and is expected to collapse.

Matt Drudge seems a bit worried;
Matt Drudge Issues Warning: "Have An Exit Plan"

The stock market is declining and Richard Russell warns that it is at the edge. He has 60 years experience;
My Blog
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Old 02-01-2014, 04:11 AM
Danny B Danny B is offline
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financial problems in the power industry

"Today in 2014, German household electricity consumers pay about 25 euro cents per kilowatthour pricing their “increasingly green” electricity at about $535 per barrel equivalent of energy. "
The Coming Energy Subprime Rout
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Old 02-02-2014, 12:40 AM
Danny B Danny B is offline
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M2 growth in a crashing economy

When focusing on central banks, you should understand that they are nominal power, pawns of the true power - the wealthy banking families and other elite. The central banks pretend nominally to care about the economy, growth and the common good, but their deeds show another picture - they first serve the banking system and then anybody else. The most important function for central banks is to rescue overextended banks, engaged in fractional reserve lending (FRL) under the pretext of ensuring an orderly payment system. FRL is the true culprit for the Western economic demise and one of the major drivers of political corruption and societal decay. Dismantling central banks will not strike the problem at the root, although it will be a good step in the right direction.

In order to understand the power of FRL (which is a legalized FRAUD, not a "commercial practice"), consider:

1. Prior to 2008, the M2 level was about $8tr, whereas central bank reserves were $0.8tr and currency component of money supply was $0.7tr; total loans and leases of commercial banks (making the majority of M2) were $7tr

2. Currently M2 is $11tr, total loans and leases of commercial banks $7.4tr, central bank reserves $3.8tr, currency $1.2tr

Thus what central banks have done is keep M2 growing at the previous rates that were maintained via FRL (loans) expansion. As the latter stalled, they directly pumped up money supply via QE, so that M2 grew from $8tr to $11tr. These $3tr added to M2 via QE (so QE was ultimately with the investing public, not banks - the latter were only intermediaries) are in what Austirans call "fully covered fiduciary media (money substitutes)". Why? Because even these $3tr pumped by QE are issued by the banks as deposits, but these deposits are now fully covered by (excess) reserves of $3tr, lying with the banks. As a result the "money multiplier" has crashed. The "money multiplier" theory is a fallacy - banks do not care whether they have enough required reserves before lending (creating money out of thin air), they look for reserves if needed afterwards in the interbank market or directly at the Fed, which is required to always supply enough reserves in order to maintain a stable payments system and reach its target rate. The incorrect nature of the "money multiplier" theory is proven both by study of institutional arrangements and empirical studies (e.g. check prof. Steve Keen).
The reason why central banks are desparate to keep the stimulus flowing is the deflationary situation of the FRL debtberg currently - if they stop stimulating M2 growth will probably go negative and the system convulsions will start again. Their stimulation of the asset bubbles is of a secondary, but welcome importance to them (not because of the wealth effect for the broad economy, but because slowly inflating collateral is good for the banks and a reflation of assets on their balance sheets is needed after 2008). FRL is a racket (a wealth redistribution tool) and the central banks are there to back it up, so yes they are indirectly cheerleaders of the wealth redistribution and cooperate in the bubble building process on Wall Street. But they themselves see that being taken for a ride every time (the bubble (re-)blowing policy of "managing" the economy) is threatening a complete collapse of the system and they can lose their power. Maybe that is why they want to tread more carefull (taper) now.
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Old 02-02-2014, 12:48 AM
Danny B Danny B is offline
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Goldman Sachs, J.P. Morgan, and MIT

Everyone knows that the nexus of evil bankers is represented by J.P.M. and G.S. GOV is aiding and abetting the crime. Where did the evil plan come from?
Paul Craig Roberts writes about "junk economics";
How Junk Economists Help The Rich Impoverish The Working Class -- Paul Craig Roberts - PaulCraigRoberts.org
Where did they learn their ideas?
I found an excellent article that is very comprehensive. The Mises institute represents one school of economic thought. Apparently, M.I.T. is responsible for our current crop of clueless economists and policy makers.
"The centrality of MIT to the core orthodoxy of modern economic theory in general and monetary policy in particular has been well documented by Jon Hilsenrath "
The Emerging Market Collapse Through The Eyes Of Don Corleone | Zero Hedge

The article mentions Blanchard along with ,,, "fellow graduate students were Ben Bernanke (1979), Mario Draghi (1976),
and Paul Krugman (1977), among other modern-day luminaries; Stanley
Fischer, current Governor of the Bank of Israel, was the dissertation
advisor for both Blanchard and Bernanke; Mervyn King and Larry Summers
(and many, many more"

From an historical point of view, our current systems are crashing VERY fast. It would be comforting to believe that the Keynesian / MIT modus operandi would be abandoned post haste. Sadly, I don't believe that this will be the case. Terminal tunnel vision apparently rules the day. The big-brains at Harvard lost a huge part of their endowment fund from bad investments. Is there not a single person at Harvard who has a tiny morsel of curiosity about Austrian economics? What about MIT? Are all these 4.0 gpa students so mesmerized by accepted orthodoxy that the logic of the Austrian school has no compelling draw?
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Old 02-02-2014, 12:59 AM
Danny B Danny B is offline
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Killing the banks to save the dollar

Everybody and their dog knows that emerging markets are falling. Especially Turkey. As the hot money slows, it leaves emerging markets. This is quite destabilizing. FED taper may very well precipitate a crisis in Emerging markets that blows the derivatives market to Pluto, BUT;

"In other words, perhaps the Fed understands that a dollar crisis is a
bigger crisis than a bank crisis and that its bailout of the banks is
undermining the dollar. The question is: will the Fed let the banks go
in order to save the dollar?"
Paul Craig Roberts - Official Homepage

This question has been the subject of intense debate for years. Will the FED save the dollar OR the banks?

Considering that we are in deflation, this strengthens the dollar. Considering that the bank's exposure to derivatives is close to 1 $ quadrillion, the banks are unsavable. I suspect that the FED will "cut it's losses" at some point and drop the banks AND GOV.

The (bank) principals will throw up their hands and claim that there was nothing that they could have done. It worked for Corzine. I predicted that the FED would not taper because it would blow the interest rate swaps. The FED may very well blow the swaps and the banks to preserve the dollar. Who knows? Maybe that is the only way to fight the rise of the Yuan.

China used all our hot money to build EVERYTHING. Maybe that was the whole point of QE. China is now unsavable;
Debt Rattle Jan 31 2014: Risk Times Risk Equals Fear - The Automatic Earth
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Old 02-02-2014, 01:04 AM
Danny B Danny B is offline
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Inflation / deflation,,, who cares

It really isn't worth arguing about inflation and deflation. The dollar is a debt instrument. If you print more of them, is it inflation or deflation?
Much of the confusion and uncertainty is related to the fact that classical inflation is an increase in the credit and currency supply. Since the dollar is a debt instrument, NOT a store of value, an increase in printing is an increase in debt, NOT wealth. Commercial bank money may be inflationary when it is issued but, the repayment phase is deflationary. Much of the TARP money was not repayed by design. This inflation was supposed to offset the growing deflation caused by defaults. The commercial banks can juice up the money supply and increase velocity but, this is temporary. Repayment PLUS interest is deflationary.

The FED sent trillions to broke banks to be held as excess reserves. Then, they paid interest on them. This was just a scheme to give income to banks that had no income due to an overcrowded industry. Many claim that those reserves will move into the general economy and cause price inflation. This isn't likely because, even though the FED can pass out loans without repayment, the commercial banks can not. The FED can cause permanent inflation but, the commercial banks can only cause temporary inflation. The no-doc and subprime loans would have been extremely deflationary when they blew if GOV had NOT kicked in the payoff.

So, while the FED only supplies a small percentage of the money supply, it is inflationary money. The commercial banks supply the bulk of new money but, it is neutral-to-deflationary upon repayment-with-interest. The FED injects inflationary money to offset the deflationary tendencies of the commercial banks. The FED has power because it has free money. The commercial banks have power because they create the bulk of new money. The FED has to continually create a trickle of new money to offset the interest drain.

In calculating inflation, one must factor in, who is creating what quantity of neutral money AND who is creating what quantity of inflationary money.
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Old 02-03-2014, 05:06 AM
Danny B Danny B is offline
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Willie, Janszen and Grant

Jim Willie has a doctorate in statistics. He also seems to have some very good informants. He has never been afraid to let it all hang out. He has been correct about 80% of the time. He has a recent prediction that is shocking,,,, to use a word that is overused.
" The reality of the Chinese buying the USFed at the termination of its 100-year contract seems to be coming into view. "
Jim Willie: US Dollar Currency Crisis to Send T-Bond Yields Soaring! | SilverDoctors.com

Eric Janszen is a writer who has been at it for 16 years. He really knows the technical stuff. He is in a position where he goes to the FED meetings and talks with Bernanke. He has a recent article postulating a strong possibility that this bubble is the last bubble. He calculates that stocks are 56% over valued.
2013 Review and 2014 Forecast - Part I: The Last Bubble - Eric Janszen

Jim Grant of Grant's interest rate observer has been accurate and highly respected for a LONG time. He figures that stocks are 60% over valued.
The value of a stock is relative to it's price to earnings ratio. I believe that P/E is at about 17/1 . Once you factor in price inflation, there really aren't any earnings.

Here is an excellent article about the early days of the FED when it started out as an honest institution,,, if only for a short time. Hugh Grant is giving a lecture to the members of the FED.
Must Read: Jim Grant Crucifies The Fed; Explains Why A Gold Standard Is The Best Option | Zero Hedge
Grant talks about how price deflation goes hand in hand with technological advancement. The bankers do all they can to block price deflation by skimming off an ever-increasing percentage.
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Old 02-06-2014, 03:52 AM
Danny B Danny B is offline
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Emerging market economies

I have to start this post with something humorous. Things are not looking good out there.
Bohemian gravity; A Capella Science - Bohemian Gravity! - YouTube

"but the Nikkei is down more than 2,300 points. The Nikkei has dropped more than 14 percent since the peak of the market, and many analysts believe that this is only just the beginning. "
"Losses snowballed in Tokyo during a global retreat that has erased $2.9 trillion from equity values worldwide this year"
"As a society, our total consumer, business and government debt is now equivalent to approximately 345 percent of GDP."
The Stock Market In Japan Is COLLAPSING

"In addition to the intractable Federal fiscal profligacy, 44 out of our 50 states are functionally insolvent, (the top five are Rhode Island, Connecticut, Massachusetts, Illinois, and Hawaii)
- See more at: Money Confiscation And Martial Law Unavoidable In US At This Point - :
"One third, or ~$13.5 Trillion dollars of state and municipal bonds at a high risk of default, right now! And yet, State and Local bond issuance continues apace at over $25B per month!"

J.P. Morgan reports that it's stash of gold is just 2.2 tons. This amount of gold fits nicely into a footlocker. There is no need for a vault.
Here is a graph that is an overlay from 1928---1930 compared to today;
http://www.theautomaticearth.com/wp-...113_1928_0.jpg

China is having a bit of a problem;
"As China's CNR reports, depositors in some of Yancheng City's largest farmers' co-operative mutual fund societies ("banks") have been unable to withdraw "hundreds of millions" in deposits in the last few weeks. "Everyone wants to borrow and no one wants to save," warned one 'salesperson', "and loan repayments are difficult to recover." There is "no money" and the doors are locked.

#8 Art Cashin of UBS is warning that credit markets in China "may be broken". For much more on this, please see my recent article entitled "The $23 Trillion Credit Bubble In China Is Starting To Collapse – Global Financial Crisis Next?""
20 Early Warning Signs That We Are Approaching A Global Economic Meltdown

The emerging markets are starting to collapse. Turkey and Argentina are leading the pack. European banks have $ 3 trillion exposure to emerging markets. Deutches bank is collapsing. Their derivative exposure is 17 times the GDP of Germany.

Russia is a resource economy and has had problems anyway. They have cancelled bond auctions for the second week.

The FED has reduced bond buying by just a bit. They call it taper. This has started a crash in emerging markets,,,, first. Germany has called on the FED to STOP taper. So has India and others.
The Mortgage Lender Implode-O-Meter News Pick-ups: Deutsche Bank: Ultra-Fragile Global Markets Mean Fed Will Have To Reverse Taper
There is a definite perception that the FED will continue to taper. The FED would do this hoping to drive investors to the dollar as a safe haven. They aren't worried about crashing everybody else if they can just preserve the dollar. This is war without the explosives.

When Nixon closed the gold window, this started a slow-moving cataclysm. The Euro was created as a replacement / alternative to the dollar. The Euro is partially backed with gold. Dunno if that will be enough. The FED is trying to kill all competition,,, even the Euro. It looks like the emerging market / Japan collapse is unstoppable. That may very well be the plan of the FED.
The FED would also like to collapse China.

When we gave most-favored-nation trading status to China, we force-fed capital to their system. Since China and other low-wage competitors were going to take our manufacturing jobs anyway, we may have forced the issue to create uncontrolled growth. China was in a big hurry to join other powerful States. They threw caution to the wind in an effort to compress 70 years of industrial development into just 20 years.

China, for their part is buying all the gold they can get to try to have a gold-backed currency. They want to buy the stability of gold that we are trying to derail with our huge inflows of hot money. China moved 300 million self-sufficient peasants to the cities. If China can't give them some type of employment, there are going to be BIG problems. China has 64 million empty housing units. China is planning to build 60 additional international airports that they don't need.

China is a big aircraft that has a stall-speed of 7% growth. China is a command economy. NO command economy can grow at 7% without severe mis-allocations of credit. America is in the doldrums. China risks a total implosion.
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Old 02-09-2014, 02:10 AM
Danny B Danny B is offline
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GOV and gold

Here is a good vid to start with;
Watch Snowboarding Pro William Hughes in "L.E.D. Surfer" by Jacob Sutton - YouTube

Man started with barter. It was a bit cumbersome so, he invented intermediaries (money). All money had to be a store of value Since priests, kings, politicians and bankers are parasites, they offer nothing of value. They have to take wealth by force and/or subterfuge. Gold was deemed to be the best intermediary for barter. ALL items in an intermediated barter held value. The non-producers have eternally tried to introduce an intermediary that they could control and produce (at no cost).

Paper money came into use in China about 700 A.D. China eliminated paper money entirely in 1455 and wouldn't adopt it again for several hundred years.

In the West, wealth reserves were held in the form of gold until 1944. The Bretton Woods agreement mandated that the U.S. dollar be gold backed and all other currencies be referenced to the dollar,,, indirectly to gold. America promised NOT to over-issue the dollar. In 1950, the Korean war was amped up to make profits for the war profiteers. In the early 60s, the Viet Nam war was created to keep the war profiteers fat and happy. The socialists wanted to buy votes in the early 60s so, LBJ created the "Great Society" welfare programs.

All of this had to be paid for and GOV did this with fresh printed currency. The rest of the world was quite unhappy that we were getting a free ride. They claimed that the dollar was not as good as gold. They dumped the dollars back on FED GOV and demanded gold.
France redeemed $191 million for gold by sending a French battleship to New York to take delivery of the gold from the Federal Reserve and to bring it back to France.

Woodrow Wilson; "They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it. "
We all know that he spoke of the bankers,,, primarily in London.

In a shocking move on August 11, 1971, the British ambassador requested to redeem an astonishing $3 billion for gold -roughly one third of the total gold reserves of the US. By that time, our gold reserves had fallen from a post-war high of 22,000 tons to about 10,000 tons. The British bankers wanted about 3,000 tons of gold. [B]FOUR[B] days later, Nixon closed the gold window. Nixon had made the decision on his own without even including the Secretary of State. Nixon got impeached.
Documents 158 through 174

The parasites have continually tried to get the producers to accept an intermediary that they controlled and produced. The average life of a fiat currency is 20--40 years. The U.S. dollar is 43 years old as an unbacked currency.
When the parasites get control of a currency, they invariably overprint it. When the crash comes, the bankers are always there to rescue GOV at a very high price.
"A clerk informed Carlisle that only $9 million in gold coin remained in government vaults"
"Morgan and the English Rothschilds would loan the U.S. Treasury 3.5 million ounces of gold in exchange for 30-year bonds"
The Panic of 1893: Boosting Bankers’ Money and Power

This time around, it appears that both GOB and banking are flat broke.
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  #330  
Old 02-09-2014, 06:11 PM
Danny B Danny B is offline
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Danger of banking

To start with, I'm going to post a couple of commercial vids. They're pretty cool.
автоФигурное Катание. Танец машин и фигуристов на льду - YouTube
Huge Bear Surprises Crew on EcoBubble Photo Shoot in BC - YouTube
It is well known that banking was taken over by organized crime. This made a lot of legitimate bankers very nervous. A LOT of them quit.
"FREEDOM PROJECT: 594 BANKER RESIGNATIONS"
FREEDOM PROJECT: 594 BANKER RESIGNATIONS ~ by American Kabuki ~ 15.4.12... | The Galactic Free Press

The new Pope fired quite a few of them also. What about the ones that remained? Things haven't gone so well.

Jim Willie;
"an exclusive report on the banker deaths, which has now increased to 5 in the past week with American Title CEO Richard Tulley found dead of “self-inflicted nail gun wounds“.
The Golden Jackass states that the suicided bankers had flipped during prosecution investigations, and were assassinated to prevent insider testimony of bank fraud from reaching the prosecution.
Willie, who recently sat down with The Doc for an exclusive interview revealing the “Smoking Gun” proving gold rehypothecation by US officials, emphasizes that we are NOT seeing bad bankers removed, we are witnessing bankers taken out who are on the verge of revealing BIG DATA details. "
"The banker hits are being done by the bad guys to keep men from singing after they flipped during prosecution investigation.
All have been working with police teams and continental cops like Interpol.
The STL Fed guy discovered some Bush giant multi-$B fraud and was ready to report it.
The STL Fed economist was hit by the Bush gang, before he sang against them.
The London bankers had begun to sing to Interpol on Mafia Vatican connections on massive FOREX fraud thefts.
It is unclear which is bigger: Vatican links to narco money, or links to FOREX fraud theft, or their control room for Nazis."
"They said Talley died from seven or eight self-inflicted wounds from a nail gun fired into his torso and head".
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