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The rise of the tech giant billionaires, the crime, corruption, wokery, war, inflation, climate witchcraft, and the Big-Pharma reckless experiment — is all made possible by the same thing, and it’s been coming for fifty years.
Everyone under 40 has lived their entire lives in the fairy-land-of-plenty borrowed from the future. But all bubbles come to an end.
The rot started with a corrupted currency, and now infects every corner of the world — weakening markets and minds and concentrating power obscenely. When our medium of exchange is undisciplined, everything else is too. There is injustice built right in to Fake IOU’s made from thin air — especially when some can borrow big and early and at low cost, while others have to wait to earn them slowly an hour at a time. In the inflation race, speed is everything. They devalue the incentives that drive people to make things better, faster, and stronger. It punishes the prudent hardworking savers, and feeds speculative greed.
This is what BlackRock’s influence came from, and Gates, Zuckerberg, Dorsey, and the WEF. All of them rode the wave of easy money and easy loans. Through predatory purchases on credit, they were able to buy […]
The idea that we could make “a carbon credit” work as an international currency and fix our weather at the same time, is the stuff of Econo-alchemy.
It’s where a scientific quagmire marries an economic fairy. Instead of salvation we get the swamp to end all swamps. It doesn’t give power to the people or produce an honest mode of exchange or stop the storms either. A carbon currency just feeds corruption and centralized unaccountable unelected committees who play power-brokers and Kingmakers, deciding what is and what isn’t a real “right” and who or what should pay. It serves global bankers who broker the transactions. It is the paper currency from hell.
Where do we start? A bar of carbon “rights” is not a bar of gold
How do we weigh a “carbon right”? Every nation on Earth knows what a gram of gold is, and with 2,500 years of trading history, everyone knows that come the apocalypse, they can still swap gold for goods.
What sort of security is backed by the right to emit one unit of carbon dioxide, a right that all life on Earth and most of the rocks and water already has? The largest consumer […]
The most dangerous Big-Government Qango of all may well be the Central Banks (not the NIH). Money drives all the incentives across national economies, but one small unelected group decides the price of money, and all corruption flows downstream from there. Ponder how they set the temperature that drives the global currents of goods, resources and opportunity. They feed Big Government, Big Pharma and Big Tech.
Saddle Up: There is no hiding inflation. Despite the global economy grinding to a halt in a pandemic, house prices set surging records and paradoxically the Dow hit all times highs.
It is just supply and demand. As more dollars are printed, a bigger supply of money competes for the same number of goods. And boy, have they been printing money.
It’s a temporary spike they say:
This is the money base of USD, a rough measure of “how many dollars there are”.
US St Louis Federal Reserve, Money Base graph 1918-2008 | Source
For perspective, below is the history of the growth in US Dollars since 1918 up until the GFC. The US left the Gold Standard in stages between 1913 and 1971, and the growth in money supply since then […]
It doesn’t have to be this way. The most important price in our economy is set by a bunch of bureaucrats. They are unelected and unaccountable. But your day to day life is affected by their decisions, as well as your ability to buy a house or for your retirement savings to maintain their value. Some people are wiped out by a mere phrase in a memo. There is a deep Soviet style management program at the centre of all Western economies. It’s time we talked about that ogre.
Maurice Newman, former chair of the Australian Stock Exchange (ASX), writes in The Australian about the defining invisible issue which is rarely discussed — our currencies, our central banks:
Vladimir Lenin advocated: “The best way to destroy the capitalist system is to debauch the currency.” True or not, we seem hellbent on finding out.
Dark times are coming:
The BIS has rung the alarms. We are warned that the world’s most reckless monetary experiment, which has taken interest rates to the lowest in recorded history, is failing. Central bankers remain silent, not knowing how or when to end what they began, while the political class simply looks […]
Something suddenly changed in December last year in the world’s second largest economy (some say it’s the first). For the last few years private investors in China have been running away at a faster and faster pace. Apparently, no one wants to invest in the Chinese economy except the government, and six months ago, the State launched a rocket.
The massive growth of China is partly thanks to rampant money-printing. Say hello to Malinvestment. The Chinese economy is sick. It’s distraction time. Anyone want to stoke a war?
…
I saw the graph on the ABC news last night thanks to Phillip Lasker. The original graph came from Bloomberg under this unlikely headline:
China Proves Doubters Wrong For Now as Credit Boom Stokes Growth
“Stoking Growth” is not always desirable — to go biological — cancer “stokes growth” and so does Ebola.
“The amount of cash Beijing is shoveling into the economy is stunning,” said Andrew Collier, an independent analyst in Hong Kong and former president of Bank of China International USA. “Given high fixed-asset investment among state-owned enterprises, it’s likely most of it is being consumed by the inefficient state sector. This […]
Here’s a monster number lurking under an invisibility cloak. It’s the Quadrillion dollar bomb, and either the fuse has been lit, or it’s already going off in a slow motion big-bang. I first mentioned it way back when I talked about the danger of Carbon credits as another fiat Currency (my 12th post). Hang on for the ride.
The Repo action is now much worse than in the GFC (check out that graph below — the “GFC” was a speed bump). The volcano bubbling at the end suggests that the Derivatives Bomb probably started a slow motion explosion early last year. The US Federal Reserve are trying to contain it.
Derivatives* are often used for insurance or hedging, but are mainly highly leveraged bets.They are so much larger than the actual market, it’s better described as a global casino. World GDP is around US$60 trillion but there are at least US$600 trillion of derivative contracts, perhaps as much as US$1.5 quadrillion, as measured by face value, according to the Bank of International Settlements (the “central bank of central banks”). The problem is that all the bank debt or “all the money in the world” is less than US250 trillion.
On […]
In the past, David and I have written about how money supply is rampantly expanding, and how this benefits the spenders and the speculators while punishing the producers and the savers (in a relative sense of course). We’ve been called conspiracy theorists for pointing out systematic problems with paper currencies.
Today in The Australian we find some more people who agree with us: Rupert Murdoch, Veteran Reserve Bank economist Peter Jonson, Warwick McKibbin (former Reserve Bank Board), and Bob Gregory (Professor of economics at ANU and another former Reserve Bank Board member). It’s good to see this issue make the front page. Shame it wasn’t there 15 years ago.
“Rupert Murdoch had warned G20 finance ministers that money printing by central banks had exacerbated inequality…”
“Mr Murdoch is saying what a lot of people including central bankers are saying in private and increasingly in public,” said Warwick McKibbin
Here’s the latest US money base* graph. The massive injections started in August 2008, the numbers ran right off the old graph scale. It was a temporary liquidity injection to tide us over difficult times. It took 90 years to grow the US base money to $800 billion. Now six years later […]
UPDATE: Cash is being flown to British Troops in Cyprus. The banks will stay shut til Thursday. The finance minister has resigned. [SkyNews]
Remember how the EU was supposed to promote stability?
Sooner or later a central fund managed by central bureaucrats is going to fail in a “central” way. This isn’t it, but we are getting closer to the center.
Without competition between states on currency, Europe left itself open to be a case study in centralized stupidity. The bureaucrats needed to stop the waste of public spending, they needed to halt the corruption, increase competition. And their answer? Steal 10% of depositor’s funds from everyone in Cyprus. It seemed like a good idea at the time.
We are now in new territory. In previous bank bailouts, if anyone took any losses it was the shareholders and the bond holders, and the depositors did not lose any money. In the Cyprus bail out, the bondholders and shareholders lose nothing but the depositors lose about 10%. (Any chance the bondholders of the Cyprus banks include the ECB or IMF?)
Where is the natural law that makes sense in this decision? Don’t punish the shareholders, or the bondholders, […]
The scale of the rot is something to behold. Something is grossly, wantonly wrong with Western Civilization, and lots of people know it, but they don’t know why (and for the next blind rebellion, see, “Occupy”).
But a head of the hydra popped into view last week. First a high profile whistleblower from Goldman Sachs wrote Why I am leaving in the New York Times. Then today (possibly, it’s unconfirmed), an insider from JP Morgan came forward to reveal something far worse, and dark to the core. It’s posted on the CFTC site (that’s The US Commodity Futures Trading Commission – the market watchdog, or rather watch-puppy). [UPDATE: The CFTC have removed the page after 48 hours, a copy of the text is here, screenshot here.]
A Goldman Sachs Executive Director — Greg Smith — resigned from the 143 year old firm explaining he felt ill with the callous culture where people would boast about how much they had ripped off clients, which they called “hunting elephants”, and calling their clients “muppets” and worse. He said that in 12 years the company had completely lost the culture that made him proud to join it. There was nothing left of integrity […]
Ladies and gentlemen, it’s obvious (to anyone who knows there’s no free lunch) that one way or another this Festival of Funny Money was going to end in tears. And so it flows… but let’s not forget what lead us to this, the problem that lies under all others.
The government can print (base) money from nothing, and they can set interest rates artificially low so as to encourage private banks to create (bank) money from nothing. And governments keep doing it, because it’s so much easier to be elected handing out loaves and fishes, and grants and solar-rooftop-subsidies, in a froth of easy money and rising asset prices. Any fool can spend someone else’s money, especially when the sucker doesn’t even know it was their money.
Thus does inflation steal from all and sundry. Silently.
Watch them print money… say hello to inflation.
In the real world, we have to repay our debts. But the world of the ruling class never has to make ends meet. Alan Greenspan admitted that this weekend — effectively announcing that the US is the United States of Wonderland, where no matter how high the debt is they can never default — because […]
Not many people realize just how utterly unprecedented the Global Financial Crisis was.
To see just how singularly anomalous those months were, let’s revisit an article I wrote for 321 Gold in November 2008.
The graphs below are extraordinary, jaw-dropping plots. At the time I was watching them grow week by week, and was amazed that they were not “everywhere”. I still remember the chill I got in mid October when I first saw the ballistic spike. We’re talking about the money supply of the worlds largest economy. The rescue package blew away the scale — the second graph below covers 90 years. It’s not often you see any graph which is a true hockey stick. This was originally published at 321Gold on Nov 25th 2008. Remember this money (your money if you hold US dollars) was “injected” as a temporary fix (in theory), the plan was to neutralize it, or sterilize it, or insert-your-favourite-euphemism-here-for-getting-it-back-to-normal.
So where does the Money Base graph stand now? It’s not back down to $900 billion (where it was in August 2008), it’s not even stable at $1500 billion, it’s $2000 billion. Our markets run on ever increasing injections of new money. The people […]
Maybe you are already au fait with the deep flaws in our financial system, or maybe you are like I was ten years ago, too bored to read “economics”–knowing it was all human vagaries and surrounded with jargon. If your eyes glaze at the thought of bonds, yields, debt and GOFO’s–bear with me, I understand. But history books will be written about this year. No one can afford to be not interested in the science of money.
Economics is known as The Dismal Science, and the reason it’s dismal is the same reason that official climate science is — too many dollars at stake. (If we can treat psychology scientifically, why not economics too?)
Those who want to falsely alarm us benefit from confounding issues, confusing statements, argument from authority and bureaucratese
But the unscientific nature of some subjects is no accident. Clear thinking, transparency, and rigorous logic benefit the majority, just as jargon, elitism, gatekeepers and censorship do not. Those who want to falsely alarm us benefit from confounding issues, confusing statements, argument from authority and bureaucratese, and so too do the people who control our money — central bankers, the banking aristocracy, and some politicians. (Though instead of […]
What a surprise: The free-market-that-is-not-free leaps from one scandal to the next. In a real free market where salesmen sell something real, and buyers buy something they want, people can’t get away with cheating, or not for long.
If someone sold you a bulk carrier of coal, and it turned up empty, you’d notice.
10 out of 10 based on 3 ratings […]
Rupert Murdoch, 2009
Three years ago Rupert Murdoch was promising to make News Corporation carbon neutral. He implored his staff to personally reduce their footprint, and to be more creative in convincing the world to act too. He created websites specifically to help spread the message about the need to reduce carbon emissions. And he even bought a hybrid car for himself.
Today Quadrant magazine reports what many of us have been speculating behind the scenes: Murdoch has realized the IPCC and the “consensus” are fake.
The Australian has performed best in giving space to sceptics and dissenters but has stuck to the save the planet line in its editorials, some say because Murdoch said so publicly. Yet in a personal communication with Murdoch he indicated his scepticism to me. Last Friday’s editorial moved in the right direction when it called on politicians to question the science used by the IPCC but it has yet to endorse the call for an independent inquiry by a number of Australian scientists.
http://www.quadrant.org.au/blogs/doomed-planet/2010/01/des-moore
Rupert Murdoch is unarguably one of the most powerful men on the planet. This is an edited extract of what he said in May 2007 in the first ever […]
Carbon credits are a form of fiat currency, yet as calls for carbon trading grow, ironically, another fiat currency collapses—destroying life savings, wiping out jobs, and taking down historic institutions overnight. […]
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JoNova A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).
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The nerds have the numbers on precious metals investments on the ASX
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