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While suturing a cut on the hand of a 75 year old rancher whose hand was caught in the squeeze gate while working cattle, the doctor struck up a conversation with the old man.
Eventually the topic got around to Obama and his role as our president.
The old rancher said, "Well, ya know, Obama is a 'Post Turtle'".
Not being familiar with the term, the doctor asked him, what a "post turtle" was.
The old rancher said, "When you're driving down a country road and you come across a fence post with a turtle balanced on top, that's a 'post turtle'".
The old rancher saw the puzzled look on the doctor's face so he continued to explain.
"You know he didn't get up there by himself, he doesn't belong up there, he doesn't know what to do while he's up there, he's elevated beyond his ability to function, and you just wonder what kind of dumb ass put him up there to begin with."
Buy stocks! Can't you see that the world is wonderful, and all is well economically in every country? The MSM tells us Putin is fine, the Middle East is at peace, energy is no issue, the grid is safe and secure, derivatives are a complete non-issue, the banks are "good as gold" -- actually much, much better, there is no inflation and will never be, jobs are being created, ALL countries respect America and its leadership like never before, citizens are happy being monitored 24/7 and are 100% SAFE because of it, gold and silver are worthless pieces of stone, the dollar will be king FOREVER, China will ALWAYS purchase US debt and be tickled pink to do it, and the Kardashians are happy and healthy and all Americans worship them and aspire to be like them! AND -- the wealth disparity is a myth!
We Are In FAR Worse Shape Than We Were Just Prior To The Last Great Financial Crisis
None of the problems that caused the last financial crisis have been fixed. In fact, they have all gotten worse. The total amount of debt in the world has grown by more than 40 percent since 2007, the too big to fail banks have gotten 37 percent larger, and the colossal derivatives bubble has spiraled so far out of control that the only thing left to do is to watch the spectacular crash landing that is inevitably coming. Unfortunately, most people do not know the information that I am about to share with you in this article. Most people just assume that the politicians and the central banks have fixed the issues that caused the last great financial crisis. But the truth is that we are in far worse shape than we were back then. When this financial bubble finally bursts, the devastation that we will witness is likely to be absolutely catastrophic.
Too Much Debt
One of the biggest financial problems that the world is facing is that there is simply way too much debt. Never before in world history has there ever been a debt binge anything like this.
You would have thought that we would have learned our lesson from 2008 and would have started to reduce debt levels.
Instead, we pushed the accelerator to the floor.
It is hard to believe that this could possibly be true, but according to the Bank for International Settlements the total amount of debt in the world has increased by more than 40 percent since 2007…
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.
The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period, according to data compiled by Bloomberg. The jump in debt as measured by the Basel, Switzerland-based BIS in its quarterly review is almost twice the U.S.’s gross domestic product.
That is a recipe for utter disaster, and yet we can’t seem to help ourselves.
And of course the U.S. government is the largest offender.
Back in September 2008, the U.S. national debt was sitting at a total of 10.02 trillion dollars.
As I write this, it is now sitting at a total of 17.49 trillion dollars.
Is there anyone out there that can possibly conceive of a way that this ends other than badly?
Too Big To Fail Is Now Bigger Than Ever
During the last great financial crisis we were also told that one of our biggest problems was the fact that we had banks that were “too big to fail”.
Well, guess what?
Those banks are now much larger than they were back then. In fact, the six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger since the last financial crisis.
Meanwhile, 1,400 smaller banks have gone out of business during that time frame, and only one new bank has been started in the United States in the last three years.
So the problem of “too big to fail” is now much worse than it was back in 2008.
The following are some more statistics about our “too big to fail” problem that come from a previous article…
-The U.S. banking system has 14.4 trillion dollars in total assets. The six largest banks now account for 67 percent of those assets and all of the other banks account for only 33 percent of those assets.
-Approximately 1,400 smaller banks have disappeared over the past five years.
-JPMorgan Chase is roughly the size of the entire British economy.
-The four largest banks have more than a million employees combined.
-The five largest banks account for 42 percent of all loans in the United States.
-Bank of America accounts for about a third of all business loans all by itself.
-Wells Fargo accounts for about one quarter of all mortgage loans all by itself.
-About 12 percent of all cash in the United States is held in the vaults of JPMorgan Chase.
The Derivatives Bubble
Most people simply do not understand that over the past couple of decades Wall Street has been transformed into the largest and wildest casino on the entire planet.
Nobody knows for sure how large the global derivatives bubble is at this point, because derivatives trading is lightly regulated compared to other types of trading. But everyone agrees that it is absolutely massive. Estimates range from $600 trillion to $1.5 quadrillion.
And what we do know is that four of the too big to fail banks each have total exposure to derivatives that is in excess of $40 trillion.
The numbers posted below may look similar to numbers that I have included in articles in the past, but for this article I have updated them with the very latest numbers from the U.S. government. Since the last time that I wrote about this, these numbers have gotten even worse…
JPMorgan Chase
Total Assets: $1,989,875,000,000 (nearly 2 trillion dollars)
Total Exposure To Derivatives: $71,810,058,000,000 (more than 71 trillion dollars)
Citibank
Total Assets: $1,344,751,000,000 (a bit more than 1.3 trillion dollars)
Total Exposure To Derivatives: $62,963,116,000,000 (more than 62 trillion dollars)
Bank Of America
Total Assets: $1,438,859,000,000 (a bit more than 1.4 trillion dollars)
Total Exposure To Derivatives: $41,386,713,000,000 (more than 41 trillion dollars)
Goldman Sachs
Total Assets: $111,117,000,000 (just a shade over 111 billion dollars – yes, you read that correctly)
Total Exposure To Derivatives: $47,467,154,000,000 (more than 47 trillion dollars)
During the coming derivatives crisis, several of those banks could fail simultaneously.
If that happened, it would be an understatement to say that we would be facing an “economic collapse”.
Credit would totally freeze up, nobody would be able to get loans, and economic activity would grind to a standstill.
It is absolutely inexcusable how reckless these big banks have been.
Just look at those numbers for Goldman Sachs again.
Goldman Sachs has total assets worth approximately 111 billion dollars (billion with a little “b”), but they have more than 47 trillion dollars of total exposure to derivatives.
That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 427 times greater than their total assets.
I don’t know why more people aren’t writing about this.
This is utter insanity.
During the next great financial crisis, it is very likely that the rest of the planet is going to lose faith in the current global financial system that is based on the U.S. dollar and on U.S. debt.
When that day arrives, and the U.S. dollar loses reserve currency status, the shift in our standard of living is going to be dramatic. Just consider what Marin Katusa of Casey Research had to say the other day…
It will be shocking for the average American… if the petro dollar dies and the U.S. loses its reserve currency status in the world there will be no middle class.
The middle class and the low class… wow… what a game changer. Your cost of living will quadruple.
The debt-fueled prosperity that we are enjoying now will not last forever. A day of reckoning is fast approaching, and most Americans will not be able to handle the very difficult adjustments that they will be forced to make. Here is some more from Marin Katusa…
Imagine this… take a country like Croatia… the average worker with a university degree makes about 1200 Euros a month. He spends a third of that, after tax, on keeping his house warm and filling up his gas tank to get to work and get back from work.
In North America, we don’t make $1200 a month, and we don’t spend a third of our paycheck on keeping our house warm and driving to work… so, the cost of living… food will triple… heat, electricity, everything subsidized by the government will triple overnight… and it will only get worse even if you can get the services.
All of this could have been prevented if we had done things the right way.
Unfortunately, we didn’t learn any of the lessons that we should have learned from the last financial crisis, and our politicians and the central banks have just continued to do the same things that they have always done.
So now we all get to pay the price.
http://www.thedailysheeple.com/we-are-in-far-worse-shape-than-we-were-just-prior-to-the-last-great-financial-crisis_032014
We Are In FAR Worse Shape Than We Were Just Prior To The Last Great Financial Crisis
None of the problems that caused the last financial crisis have been fixed. In fact, they have all gotten worse. The total amount of debt in the world has grown by more than 40 percent since 2007, the too big to fail banks have gotten 37 percent larger, and the colossal derivatives bubble has spiraled so far out of control that the only thing left to do is to watch the spectacular crash landing that is inevitably coming. Unfortunately, most people do not know the information that I am about to share with you in this article. Most people just assume that the politicians and the central banks have fixed the issues that caused the last great financial crisis. But the truth is that we are in far worse shape than we were back then. When this financial bubble finally bursts, the devastation that we will witness is likely to be absolutely catastrophic.
Too Much Debt
One of the biggest financial problems that the world is facing is that there is simply way too much debt. Never before in world history has there ever been a debt binge anything like this.
You would have thought that we would have learned our lesson from 2008 and would have started to reduce debt levels.
Instead, we pushed the accelerator to the floor.
It is hard to believe that this could possibly be true, but according to the Bank for International Settlements the total amount of debt in the world has increased by more than 40 percent since 2007…
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.
The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period, according to data compiled by Bloomberg. The jump in debt as measured by the Basel, Switzerland-based BIS in its quarterly review is almost twice the U.S.’s gross domestic product.
That is a recipe for utter disaster, and yet we can’t seem to help ourselves.
And of course the U.S. government is the largest offender.
Back in September 2008, the U.S. national debt was sitting at a total of 10.02 trillion dollars.
As I write this, it is now sitting at a total of 17.49 trillion dollars.
Is there anyone out there that can possibly conceive of a way that this ends other than badly?
Too Big To Fail Is Now Bigger Than Ever
During the last great financial crisis we were also told that one of our biggest problems was the fact that we had banks that were “too big to fail”.
Well, guess what?
Those banks are now much larger than they were back then. In fact, the six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger since the last financial crisis.
Meanwhile, 1,400 smaller banks have gone out of business during that time frame, and only one new bank has been started in the United States in the last three years.
So the problem of “too big to fail” is now much worse than it was back in 2008.
The following are some more statistics about our “too big to fail” problem that come from a previous article…
-The U.S. banking system has 14.4 trillion dollars in total assets. The six largest banks now account for 67 percent of those assets and all of the other banks account for only 33 percent of those assets.
-Approximately 1,400 smaller banks have disappeared over the past five years.
-JPMorgan Chase is roughly the size of the entire British economy.
-The four largest banks have more than a million employees combined.
-The five largest banks account for 42 percent of all loans in the United States.
-Bank of America accounts for about a third of all business loans all by itself.
-Wells Fargo accounts for about one quarter of all mortgage loans all by itself.
-About 12 percent of all cash in the United States is held in the vaults of JPMorgan Chase.
The Derivatives Bubble
Most people simply do not understand that over the past couple of decades Wall Street has been transformed into the largest and wildest casino on the entire planet.
Nobody knows for sure how large the global derivatives bubble is at this point, because derivatives trading is lightly regulated compared to other types of trading. But everyone agrees that it is absolutely massive. Estimates range from $600 trillion to $1.5 quadrillion.
And what we do know is that four of the too big to fail banks each have total exposure to derivatives that is in excess of $40 trillion.
The numbers posted below may look similar to numbers that I have included in articles in the past, but for this article I have updated them with the very latest numbers from the U.S. government. Since the last time that I wrote about this, these numbers have gotten even worse…
JPMorgan Chase
Total Assets: $1,989,875,000,000 (nearly 2 trillion dollars)
Total Exposure To Derivatives: $71,810,058,000,000 (more than 71 trillion dollars)
Citibank
Total Assets: $1,344,751,000,000 (a bit more than 1.3 trillion dollars)
Total Exposure To Derivatives: $62,963,116,000,000 (more than 62 trillion dollars)
Bank Of America
Total Assets: $1,438,859,000,000 (a bit more than 1.4 trillion dollars)
Total Exposure To Derivatives: $41,386,713,000,000 (more than 41 trillion dollars)
Goldman Sachs
Total Assets: $111,117,000,000 (just a shade over 111 billion dollars – yes, you read that correctly)
Total Exposure To Derivatives: $47,467,154,000,000 (more than 47 trillion dollars)
During the coming derivatives crisis, several of those banks could fail simultaneously.
If that happened, it would be an understatement to say that we would be facing an “economic collapse”.
Credit would totally freeze up, nobody would be able to get loans, and economic activity would grind to a standstill.
It is absolutely inexcusable how reckless these big banks have been.
Just look at those numbers for Goldman Sachs again.
Goldman Sachs has total assets worth approximately 111 billion dollars (billion with a little “b”), but they have more than 47 trillion dollars of total exposure to derivatives.
That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 427 times greater than their total assets.
I don’t know why more people aren’t writing about this.
This is utter insanity.
During the next great financial crisis, it is very likely that the rest of the planet is going to lose faith in the current global financial system that is based on the U.S. dollar and on U.S. debt.
When that day arrives, and the U.S. dollar loses reserve currency status, the shift in our standard of living is going to be dramatic. Just consider what Marin Katusa of Casey Research had to say the other day…
It will be shocking for the average American… if the petro dollar dies and the U.S. loses its reserve currency status in the world there will be no middle class.
The middle class and the low class… wow… what a game changer. Your cost of living will quadruple.
The debt-fueled prosperity that we are enjoying now will not last forever. A day of reckoning is fast approaching, and most Americans will not be able to handle the very difficult adjustments that they will be forced to make. Here is some more from Marin Katusa…
Imagine this… take a country like Croatia… the average worker with a university degree makes about 1200 Euros a month. He spends a third of that, after tax, on keeping his house warm and filling up his gas tank to get to work and get back from work.
In North America, we don’t make $1200 a month, and we don’t spend a third of our paycheck on keeping our house warm and driving to work… so, the cost of living… food will triple… heat, electricity, everything subsidized by the government will triple overnight… and it will only get worse even if you can get the services.
All of this could have been prevented if we had done things the right way.
Unfortunately, we didn’t learn any of the lessons that we should have learned from the last financial crisis, and our politicians and the central banks have just continued to do the same things that they have always done.
So now we all get to pay the price.
http://www.thedailysheeple.com/we-are-in-far-worse-shape-than-we-were-just-prior-to-the-last-great-financial-crisis_032014
We Are In FAR Worse Shape Than We Were Just Prior To The Last Great Financial Crisis
None of the problems that caused the last financial crisis have been fixed. In fact, they have all gotten worse. The total amount of debt in the world has grown by more than 40 percent since 2007, the too big to fail banks have gotten 37 percent larger, and the colossal derivatives bubble has spiraled so far out of control that the only thing left to do is to watch the spectacular crash landing that is inevitably coming. Unfortunately, most people do not know the information that I am about to share with you in this article. Most people just assume that the politicians and the central banks have fixed the issues that caused the last great financial crisis. But the truth is that we are in far worse shape than we were back then. When this financial bubble finally bursts, the devastation that we will witness is likely to be absolutely catastrophic.
Too Much Debt
One of the biggest financial problems that the world is facing is that there is simply way too much debt. Never before in world history has there ever been a debt binge anything like this.
You would have thought that we would have learned our lesson from 2008 and would have started to reduce debt levels.
Instead, we pushed the accelerator to the floor.
It is hard to believe that this could possibly be true, but according to the Bank for International Settlements the total amount of debt in the world has increased by more than 40 percent since 2007…
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.
The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period, according to data compiled by Bloomberg. The jump in debt as measured by the Basel, Switzerland-based BIS in its quarterly review is almost twice the U.S.’s gross domestic product.
That is a recipe for utter disaster, and yet we can’t seem to help ourselves.
And of course the U.S. government is the largest offender.
Back in September 2008, the U.S. national debt was sitting at a total of 10.02 trillion dollars.
As I write this, it is now sitting at a total of 17.49 trillion dollars.
Is there anyone out there that can possibly conceive of a way that this ends other than badly?
Too Big To Fail Is Now Bigger Than Ever
During the last great financial crisis we were also told that one of our biggest problems was the fact that we had banks that were “too big to fail”.
Well, guess what?
Those banks are now much larger than they were back then. In fact, the six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger since the last financial crisis.
Meanwhile, 1,400 smaller banks have gone out of business during that time frame, and only one new bank has been started in the United States in the last three years.
So the problem of “too big to fail” is now much worse than it was back in 2008.
The following are some more statistics about our “too big to fail” problem that come from a previous article…
-The U.S. banking system has 14.4 trillion dollars in total assets. The six largest banks now account for 67 percent of those assets and all of the other banks account for only 33 percent of those assets.
-Approximately 1,400 smaller banks have disappeared over the past five years.
-JPMorgan Chase is roughly the size of the entire British economy.
-The four largest banks have more than a million employees combined.
-The five largest banks account for 42 percent of all loans in the United States.
-Bank of America accounts for about a third of all business loans all by itself.
-Wells Fargo accounts for about one quarter of all mortgage loans all by itself.
-About 12 percent of all cash in the United States is held in the vaults of JPMorgan Chase.
The Derivatives Bubble
Most people simply do not understand that over the past couple of decades Wall Street has been transformed into the largest and wildest casino on the entire planet.
Nobody knows for sure how large the global derivatives bubble is at this point, because derivatives trading is lightly regulated compared to other types of trading. But everyone agrees that it is absolutely massive. Estimates range from $600 trillion to $1.5 quadrillion.
And what we do know is that four of the too big to fail banks each have total exposure to derivatives that is in excess of $40 trillion.
The numbers posted below may look similar to numbers that I have included in articles in the past, but for this article I have updated them with the very latest numbers from the U.S. government. Since the last time that I wrote about this, these numbers have gotten even worse…
JPMorgan Chase
Total Assets: $1,989,875,000,000 (nearly 2 trillion dollars)
Total Exposure To Derivatives: $71,810,058,000,000 (more than 71 trillion dollars)
Citibank
Total Assets: $1,344,751,000,000 (a bit more than 1.3 trillion dollars)
Total Exposure To Derivatives: $62,963,116,000,000 (more than 62 trillion dollars)
Bank Of America
Total Assets: $1,438,859,000,000 (a bit more than 1.4 trillion dollars)
Total Exposure To Derivatives: $41,386,713,000,000 (more than 41 trillion dollars)
Goldman Sachs
Total Assets: $111,117,000,000 (just a shade over 111 billion dollars – yes, you read that correctly)
Total Exposure To Derivatives: $47,467,154,000,000 (more than 47 trillion dollars)
During the coming derivatives crisis, several of those banks could fail simultaneously.
If that happened, it would be an understatement to say that we would be facing an “economic collapse”.
Credit would totally freeze up, nobody would be able to get loans, and economic activity would grind to a standstill.
It is absolutely inexcusable how reckless these big banks have been.
Just look at those numbers for Goldman Sachs again.
Goldman Sachs has total assets worth approximately 111 billion dollars (billion with a little “b”), but they have more than 47 trillion dollars of total exposure to derivatives.
That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 427 times greater than their total assets.
I don’t know why more people aren’t writing about this.
This is utter insanity.
During the next great financial crisis, it is very likely that the rest of the planet is going to lose faith in the current global financial system that is based on the U.S. dollar and on U.S. debt.
When that day arrives, and the U.S. dollar loses reserve currency status, the shift in our standard of living is going to be dramatic. Just consider what Marin Katusa of Casey Research had to say the other day…
It will be shocking for the average American… if the petro dollar dies and the U.S. loses its reserve currency status in the world there will be no middle class.
The middle class and the low class… wow… what a game changer. Your cost of living will quadruple.
The debt-fueled prosperity that we are enjoying now will not last forever. A day of reckoning is fast approaching, and most Americans will not be able to handle the very difficult adjustments that they will be forced to make. Here is some more from Marin Katusa…
Imagine this… take a country like Croatia… the average worker with a university degree makes about 1200 Euros a month. He spends a third of that, after tax, on keeping his house warm and filling up his gas tank to get to work and get back from work.
In North America, we don’t make $1200 a month, and we don’t spend a third of our paycheck on keeping our house warm and driving to work… so, the cost of living… food will triple… heat, electricity, everything subsidized by the government will triple overnight… and it will only get worse even if you can get the services.
All of this could have been prevented if we had done things the right way.
Unfortunately, we didn’t learn any of the lessons that we should have learned from the last financial crisis, and our politicians and the central banks have just continued to do the same things that they have always done.
So now we all get to pay the price.
http://www.thedailysheeple.com/we-are-in-far-worse-shape-than-we-were-just-prior-to-the-last-great-financial-crisis_032014
Oboy, and his sidekick, the used car salesman, are the laughing stock of every leader in the world. So very sad.
As soon as you say the ACA is good thing, you lose all credibility with anyone with an IQ over 105.
Makes you wonder MORE why the psychopaths in DC keep insisting there is no inflation!
Instead of forcing employers to raise wages, which would result in higher UNEMPLOYMENT, how about come up with a plan that conditions Americans to slowly get used to paying more for all the CRAP they don't need, like electronics? Then, wages could be raised. Put a tax on all that crap that is NOT made in the USA, and give companies a reason to MAKE stuff in America again!
Lots of common sense things COULD be done to straighten out the economic mess created, but NOT when the FIRST priority is the LIFESTYLE of the sociopaths and psychopaths in DC! That's why you will never see traction on things like term limits, not letting Congressmen spend $2.5-$4.9 MILLION tax dollars EACH to "run their offices," making federal employees abide by the same rules as regular Americans in relation to health insurance, retirement, and other benefits.
I could go on and on, but it seems most deadhead liberals have convinced themselves that Democrats in DC are a completely different breed than Republicans (completely delusional), and they actually BELIEVE that these people living a BILLIONAIRE lifestyle on the backs of the taxpayers actually care about the people, and so, the BLESSED sociopath behavior by these 535 monkeys will continue until the world collapses around everyone.
No one should doubt the biggest EGO on the planet. Would not surprise me to see a push for a Constitutional Amendment removing the 2 year term for the highest office in the land within the next 3 years.
Liberals still believe a person with no morals is good for the country and could not see its complete collapse, given enough time at the helm, but they are incorrect.
Even though watching the PTB continue to abuse rational economic thought over and over with seemingly little consequences to themselves, much like a cat with 99 lives, we all know it cannot continue forever. Things, both good and bad, in this age of multiplying knowledge and escalating problems being held together with more and more weak currency, will probably hit an exponential run rate at some point.
It is sad what they have done out of greed and power craving madness, because science and technology would hit a point of exponential growth, and new discoveries could have made much of life amazing. However, due to their gross abuse with the FED and derivatives and mismanagement of the tax base, etc., the first exponential run the world will probably see will be the economic collapse. Once it starts, things can happen VERY quickly, including a runaway gold and silver price, since physical is now in so very few hands.
Even though watching the PTB continue to abuse rational economic thought over and over with seemingly little consequences to themselves, much like a cat with 99 lives, we all know it cannot continue forever. Things, both good and bad, in this age of multiplying knowledge and escalating problems being held together with more and more weak currency, will probably hit an exponential run rate at some point.
It is sad what they have done out of greed and power craving madness, because science and technology would hit a point of exponential growth, and new discoveries could have made much of life amazing. However, due to their gross abuse with the FED and derivatives and mismanagement of the tax base, etc., the first exponential run the world will probably see will be the economic collapse. Once it starts, things can happen VERY quickly, including a runaway gold and silver price, since physical is now in so very few hands.
Even though watching the PTB continue to abuse rational economic thought over and over with seemingly little consequences to themselves, much like a cat with 99 lives, we all know it cannot continue forever. Things, both good and bad, in this age of multiplying knowledge and escalating problems being held together with more and more weak currency, will probably hit an exponential run rate at some point.
It is sad what they have done out of greed and power craving madness, because science and technology would hit a point of exponential growth, and new discoveries could have made much of life amazing. However, due to their gross abuse with the FED and derivatives and mismanagement of the tax base, etc., the first exponential run the world will probably see will be the economic collapse. Once it starts, things can happen VERY quickly, including a runaway gold and silver price, since physical is now in so very few hands.
While I agree that watching the PTB continue to abuse rational economic thought over and over with seemingly little consequences to themselves, much like a cat with 99 lives, we all know it cannot continue forever. Things, both good and bad, in this age of multiplying knowledge and escalating problems being held together with more and more weak currency, will probably hit an exponential run rate at some point.
It is sad what they have done out of greed and power craving madness, because science and technology would hit a point of exponential growth, and new discoveries could have made much of life amazing. However, due to their gross abuse with the FED and derivatives and mismanagement of the tax base, etc., the first exponential run the world will probably see will be the economic collapse. Once it starts, things can happen VERY quickly, including a runaway gold and silver price, since physical is now in so very few hands.
The key is how is it transmitted. If it goes airborne, and if, "it is likely that the number of active infections could be a hundred-fold (or more) higher," then the extrapolation of that scenario is truly frightening.
CDC Prepares for Perfect Storm: “The Next Plane Could Bring a Pandemic…”
It’s happening.
The avian flu virus, which up until last year infected poultry exclusively, has now mutated and crossed over to humans.
What’s even scarier is the fact that the Chinese have been unable to contain the novel H7N9 strain of the virus and health officials the world over are getting ready for the worst. It’s spreading and we now have confirmation that the virus has begun appearing in other countries.
On Thursday, billions of Chinese will be on the move to celebrate the Lunar New Year, creating ripe conditions for the spread of the influenza virus from those already infected. And many of those celebrations will include chickens, the primary carriers of H7N9. In addition, with the Winter Olympics, one of the world’s largest sporting events, just two weeks away, the virus could find the ideal conditions for breaking out.
And that means the next plane could bring a pandemic to the U.S. or anywhere else around the world. “The bottom line is the health security of the U.S. is only as strong as the health security of every country around the world,” says Dr. Thomas Frieden, director of the U.S. Centers for Disease Control.
“We are all connected by the food we eat, the water the drink and the air we breathe.”
But that’s not the worst of it. Last year the World Health Organization warned that H7N9 is one of the most lethal influenza strains ever identified.
Of the nearly 250 officially confirmed reports of human infection since last year, a quarter of those infected have died.
Those are the official numbers, but it is likely that the number of active infections could be a hundred-fold (or more) higher.
Moreover, like any flu virus, H7N9 continues to mutate and scientists recently suggested that all it would take for this particular strain to become a deadly global pandemic is an increase in its transmission rate.
It was initially thought that the virus only spread through human contact with poultry, but that theory was quickly turned on its head when a team of researchers at the University of Hong Kong confirmed that the virus had gone airborne.
If H7N9 mutates to transmission rates of other flu viruses, which is certainly a possibility, then we could well be looking at a mass global pandemic – and according to WHO the H7N9 is mutating eight (8) times faster than a typical flu virus.
To put this in perspective, the 1918 Spanish Flu infected as many as half a billion people (about a quarter of the world’s population). The mortality rate was somewhere in the area of 5% to 10%, with a final death toll of around 50 million people.
At a 25% mortality rate the H7N9 avlian flu, combined with modern transportation systems and metropolitan areas housing tens of millions of people, there is serious potential for a globally significant catastrophe.
Should this virus increase its transmission rate we could be looking at a scenario where a billion or more people contract the virus around the world.
The math is straight forward. One in four will perish.
While we’ve had pandemic scares in the recent past, this one really has researchers and global health officials spooked:
The fast mutation makes the virus’ evolutionary development very hard to predict. “We don’t know whether it will evolve into something harmless or dangerous,” He said. “Our samples are too limited. But the authorities should definitely be alarmed and get prepared for the worst-case scenario.”
As of yet, there is no available vaccine, and one novel mechanism of action for H7N9 is that as soon as it infects its host it develops rapid antiviral resistance, so traditional medicines like Tamiflu don’t work.
One infected student at a local school, or a restaurant worker, or a passenger on an airplane could take this to the next level.
And once it takes hold, there will be no stopping it.
Most don’t believe it is possible with our advanced sciences and research facilities.
History proves otherwise.
?Plague of Justinian (541 – 542) – At it’s peak over 5,000 people per day died in the city of Constantinople
?Black Death (1348 – 1350) – Over 75 Million Dead. Nearly 60% of Europe.
?Smallpox (16th Century) – Wiped out entire civilizations like the Aztecs.
?The Third Pandemic (1855 – circa 1990) – A Bubonic Plague that killed over 10 million in China and India
?The Spanish Flu (1918 – 1919) – Over 50 million dead
The only steps one can take is to be ready in advance with a Pandemic Preparedness Plan, as recommended by Tess Pennington:
When an outbreak occurs, many will remain in a state of denial about any approaching epidemics. Simply put, most people believe themselves to be invincible to negative situations and do not like the idea change of any kind.
They will remain in this state until they realize they are unable to deny it to themselves any longer. Being prepared before the masses come out of their daze will ensure that you are better prepared before the hoards run to the store to stock up.
In addition to remaining isolated from the general population, you must have (in advance) access to food, water, medicine, and self defense armaments.
If such a virus were to spread, infecting millions and killing off 25% of those who contract it, you can be assured of widespread panic as the unprepared search and fight for resources.
http://www.shtfplan.com/headline-news/cdc-prepares-for-perfect-storm-the-next-plane-could-bring-a-pandemic_01302014
CDC Prepares for Perfect Storm: “The Next Plane Could Bring a Pandemic…”
It’s happening.
The avian flu virus, which up until last year infected poultry exclusively, has now mutated and crossed over to humans.
What’s even scarier is the fact that the Chinese have been unable to contain the novel H7N9 strain of the virus and health officials the world over are getting ready for the worst. It’s spreading and we now have confirmation that the virus has begun appearing in other countries.
On Thursday, billions of Chinese will be on the move to celebrate the Lunar New Year, creating ripe conditions for the spread of the influenza virus from those already infected. And many of those celebrations will include chickens, the primary carriers of H7N9. In addition, with the Winter Olympics, one of the world’s largest sporting events, just two weeks away, the virus could find the ideal conditions for breaking out.
And that means the next plane could bring a pandemic to the U.S. or anywhere else around the world. “The bottom line is the health security of the U.S. is only as strong as the health security of every country around the world,” says Dr. Thomas Frieden, director of the U.S. Centers for Disease Control.
“We are all connected by the food we eat, the water the drink and the air we breathe.”
But that’s not the worst of it. Last year the World Health Organization warned that H7N9 is one of the most lethal influenza strains ever identified.
Of the nearly 250 officially confirmed reports of human infection since last year, a quarter of those infected have died.
Those are the official numbers, but it is likely that the number of active infections could be a hundred-fold (or more) higher.
Moreover, like any flu virus, H7N9 continues to mutate and scientists recently suggested that all it would take for this particular strain to become a deadly global pandemic is an increase in its transmission rate.
It was initially thought that the virus only spread through human contact with poultry, but that theory was quickly turned on its head when a team of researchers at the University of Hong Kong confirmed that the virus had gone airborne.
If H7N9 mutates to transmission rates of other flu viruses, which is certainly a possibility, then we could well be looking at a mass global pandemic – and according to WHO the H7N9 is mutating eight (8) times faster than a typical flu virus.
To put this in perspective, the 1918 Spanish Flu infected as many as half a billion people (about a quarter of the world’s population). The mortality rate was somewhere in the area of 5% to 10%, with a final death toll of around 50 million people.
At a 25% mortality rate the H7N9 avlian flu, combined with modern transportation systems and metropolitan areas housing tens of millions of people, there is serious potential for a globally significant catastrophe.
Should this virus increase its transmission rate we could be looking at a scenario where a billion or more people contract the virus around the world.
The math is straight forward. One in four will perish.
While we’ve had pandemic scares in the recent past, this one really has researchers and global health officials spooked:
The fast mutation makes the virus’ evolutionary development very hard to predict. “We don’t know whether it will evolve into something harmless or dangerous,” He said. “Our samples are too limited. But the authorities should definitely be alarmed and get prepared for the worst-case scenario.”
As of yet, there is no available vaccine, and one novel mechanism of action for H7N9 is that as soon as it infects its host it develops rapid antiviral resistance, so traditional medicines like Tamiflu don’t work.
One infected student at a local school, or a restaurant worker, or a passenger on an airplane could take this to the next level.
And once it takes hold, there will be no stopping it.
Most don’t believe it is possible with our advanced sciences and research facilities.
History proves otherwise.
?Plague of Justinian (541 – 542) – At it’s peak over 5,000 people per day died in the city of Constantinople
?Black Death (1348 – 1350) – Over 75 Million Dead. Nearly 60% of Europe.
?Smallpox (16th Century) – Wiped out entire civilizations like the Aztecs.
?The Third Pandemic (1855 – circa 1990) – A Bubonic Plague that killed over 10 million in China and India
?The Spanish Flu (1918 – 1919) – Over 50 million dead
The only steps one can take is to be ready in advance with a Pandemic Preparedness Plan, as recommended by Tess Pennington:
When an outbreak occurs, many will remain in a state of denial about any approaching epidemics. Simply put, most people believe themselves to be invincible to negative situations and do not like the idea change of any kind.
They will remain in this state until they realize they are unable to deny it to themselves any longer. Being prepared before the masses come out of their daze will ensure that you are better prepared before the hoards run to the store to stock up.
In addition to remaining isolated from the general population, you must have (in advance) access to food, water, medicine, and self defense armaments.
If such a virus were to spread, infecting millions and killing off 25% of those who contract it, you can be assured of widespread panic as the unprepared search and fight for resources.
http://www.shtfplan.com/headline-news/cdc-prepares-for-perfect-storm-the-next-plane-could-bring-a-pandemic_01302014
CDC Prepares for Perfect Storm: “The Next Plane Could Bring a Pandemic…”
It’s happening.
The avian flu virus, which up until last year infected poultry exclusively, has now mutated and crossed over to humans.
What’s even scarier is the fact that the Chinese have been unable to contain the novel H7N9 strain of the virus and health officials the world over are getting ready for the worst. It’s spreading and we now have confirmation that the virus has begun appearing in other countries.
On Thursday, billions of Chinese will be on the move to celebrate the Lunar New Year, creating ripe conditions for the spread of the influenza virus from those already infected. And many of those celebrations will include chickens, the primary carriers of H7N9. In addition, with the Winter Olympics, one of the world’s largest sporting events, just two weeks away, the virus could find the ideal conditions for breaking out.
And that means the next plane could bring a pandemic to the U.S. or anywhere else around the world. “The bottom line is the health security of the U.S. is only as strong as the health security of every country around the world,” says Dr. Thomas Frieden, director of the U.S. Centers for Disease Control.
“We are all connected by the food we eat, the water the drink and the air we breathe.”
But that’s not the worst of it. Last year the World Health Organization warned that H7N9 is one of the most lethal influenza strains ever identified.
Of the nearly 250 officially confirmed reports of human infection since last year, a quarter of those infected have died.
Those are the official numbers, but it is likely that the number of active infections could be a hundred-fold (or more) higher.
Moreover, like any flu virus, H7N9 continues to mutate and scientists recently suggested that all it would take for this particular strain to become a deadly global pandemic is an increase in its transmission rate.
It was initially thought that the virus only spread through human contact with poultry, but that theory was quickly turned on its head when a team of researchers at the University of Hong Kong confirmed that the virus had gone airborne.
If H7N9 mutates to transmission rates of other flu viruses, which is certainly a possibility, then we could well be looking at a mass global pandemic – and according to WHO the H7N9 is mutating eight (8) times faster than a typical flu virus.
To put this in perspective, the 1918 Spanish Flu infected as many as half a billion people (about a quarter of the world’s population). The mortality rate was somewhere in the area of 5% to 10%, with a final death toll of around 50 million people.
At a 25% mortality rate the H7N9 avlian flu, combined with modern transportation systems and metropolitan areas housing tens of millions of people, there is serious potential for a globally significant catastrophe.
Should this virus increase its transmission rate we could be looking at a scenario where a billion or more people contract the virus around the world.
The math is straight forward. One in four will perish.
While we’ve had pandemic scares in the recent past, this one really has researchers and global health officials spooked:
The fast mutation makes the virus’ evolutionary development very hard to predict. “We don’t know whether it will evolve into something harmless or dangerous,” He said. “Our samples are too limited. But the authorities should definitely be alarmed and get prepared for the worst-case scenario.”
As of yet, there is no available vaccine, and one novel mechanism of action for H7N9 is that as soon as it infects its host it develops rapid antiviral resistance, so traditional medicines like Tamiflu don’t work.
One infected student at a local school, or a restaurant worker, or a passenger on an airplane could take this to the next level.
And once it takes hold, there will be no stopping it.
Most don’t believe it is possible with our advanced sciences and research facilities.
History proves otherwise.
?Plague of Justinian (541 – 542) – At it’s peak over 5,000 people per day died in the city of Constantinople
?Black Death (1348 – 1350) – Over 75 Million Dead. Nearly 60% of Europe.
?Smallpox (16th Century) – Wiped out entire civilizations like the Aztecs.
?The Third Pandemic (1855 – circa 1990) – A Bubonic Plague that killed over 10 million in China and India
?The Spanish Flu (1918 – 1919) – Over 50 million dead
The only steps one can take is to be ready in advance with a Pandemic Preparedness Plan, as recommended by Tess Pennington:
When an outbreak occurs, many will remain in a state of denial about any approaching epidemics. Simply put, most people believe themselves to be invincible to negative situations and do not like the idea change of any kind.
They will remain in this state until they realize they are unable to deny it to themselves any longer. Being prepared before the masses come out of their daze will ensure that you are better prepared before the hoards run to the store to stock up.
In addition to remaining isolated from the general population, you must have (in advance) access to food, water, medicine, and self defense armaments.
If such a virus were to spread, infecting millions and killing off 25% of those who contract it, you can be assured of widespread panic as the unprepared search and fight for resources.
http://www.shtfplan.com/headline-news/cdc-prepares-for-perfect-storm-the-next-plane-could-bring-a-pandemic_01302014
There is no such thing as free enterprise and a bill of rights any longer. It's the govt's way or face retribution. They are moving into every area of life and will soon control birth to death for the masses. So very sad that those masses have an average IQ of about 92, and they are totally clueless.
Yes, the world has disintegrated into a cesspool of muck, so what is the point?
If even the most liberal Americans cannot now see the PURPOSEFUL dismantling of everything AMERICAN, and a DIRECT move to destroy the US, then they have to now be completely retarded. Look at the positions of leadership in this country with Muslim attachments, and now this:
http://usnews.nbcnews.com/_news/2014/01/22/22376938-pentagon-to-relax-rules-on-personal-religious-wear-including-beards-turbans?lite
How can anyone rationalize this with not allowing someone to wear a cross or display a nativity scene or carry a Bible in America any longer if the gov't can stop it? HOW?
The country will not survive as a Republic with all that has happened and all that is planned for the next few years.
If even the most liberal Americans cannot now see the PURPOSEFUL dismantling of everything AMERICAN, and a DIRECT move to destroy the US, then they have to now be completely retarded. Look at the positions of leadership in this country with Muslim attachments, and now this:
http://usnews.nbcnews.com/_news/2014/01/22/22376938-pentagon-to-relax-rules-on-personal-religious-wear-including-beards-turbans?lite
How can anyone rationalize this with not allowing someone to wear a cross or display a nativity scene or carry a Bible in America any longer if the gov't can stop it? HOW?
The country will not survive as a Republic with all that has happened and all that is planned for the next few years.
If even the most liberal Americans cannot now see the PURPOSEFUL dismantling of everything AMERICAN, and a DIRECT move to destroy the US, then they have to now be completely retarded. Look at the positions of leadership in this country with Muslim attachments, and now this:
http://usnews.nbcnews.com/_news/2014/01/22/22376938-pentagon-to-relax-rules-on-personal-religious-wear-including-beards-turbans?lite
How can anyone rationalize this with not allowing someone to wear a cross or display a nativity scene or carry a Bible in America any longer if the gov't can stop it? HOW?
The country will not survive as a Republic with all that has happened and all that is planned for the next few years.
Sickening when you have 85, most with no morals, and then millions in the US near the bottom of the food chain with no morals and no motivation, being raised in an entitled society. These sheeple have no idea they have been programmed to think this way and be accustomed to poverty living, as long as it's free. It's all about CONTROL!
Worse still, is the worship of ENTERTAINMENT -- again, programmed into the sheeple at all levels. So take that 85, and include about another 10,000 wealthy, overpaid, and you now have, 10,085 people who probably control 95% of the world's wealth -- certainly in the US they do.
Do the math. That's 95% of the wealth in the US controlled by .00288142857% of the population.
This will not end well.
Unconscionable. Combined with the corruption, it is times like these in history where God steps in Himself. Those who think a fairy tale will be very surprised.
Have the banksters, the politicians, and technology REALLY made life better, or has most everything GOOD been systematically removed from all of society in what once made America a land of greatness? If the true measure of successful living is being truly happy, then I'd say they have FAILED miserably. Only those over about 55 will understand this, but it should bring many smiles to your faces. Enjoy.
Have the banksters, the politicians, and technology REALLY made life better, or has most everything GOOD been systematically removed from all of society in what once made America a land of greatness? If the true measure of successful living is being truly happy, then I'd say they have FAILED miserably. Only those over about 55 will understand this, but it should bring many smiles to your faces. Enjoy.
Have the banksters, the politicians, and technology REALLY made life better, or has most everything GOOD been systematically removed from all of society in what once made America a land of greatness? If the true measure of successful living is being truly happy, then I'd say they have FAILED miserably. Only those over about 55 will understand this, but it should bring many smiles to your faces. Enjoy.
Have the banksters, the politicians, and technology REALLY made life better, or has most everything GOOD been systematically removed from all of society in what once made America a land of greatness? If the true measure of successful living is being truly happy, then I'd say they have FAILED miserably. Only those over about 55 will understand this, but it should bring many smiles to your faces. Enjoy.
Rabbi Yitzhak Kaduri, before he passed at 108 years old, predicted several major items with precision. His last prediction was that the "Messiah" would come, but only after the death of Ariel Sharon. Sharon was fine at the time of the prediction. Kaduri died shortly after this prediction, and Sharon had a stroke and went into an 8 year coma.
Well, Sharon just died, so now we see if the Rabbi had Divinely-inspired knowledge. 2014 could be a year to remember, or the last year for planet earth as we know it.
Rabbi Yitzhak Kaduri was known for his photographic memory and his memorization of the Bible, the Talmud, Rashi and other Jewish writings. He knew Jewish sages and celebrities of the last century and rabbis who lived in the Holy Land and kept the faith alive before the State of Israel was born.
Kaduri was not only highly esteemed because of his age of 108. He was charismatic and wise, and chief rabbis looked up to him as a Tsadik, a righteous man or saint. He would give advice and blessings to everyone who asked. Thousands visited him to ask for counsel or healing. His followers speak of many miracles and his students say that he predicted many disasters.
When he died, more than 200,000 people joined the funeral procession on the streets of Jerusalem to pay their respects as he was taken to his final resting place.
“When he comes, the Messiah will rescue Jerusalem from foreign religions that want to rule the city,” Kaduri once said. “They will not succeed for they will fight against one another.”
https://midnightwatcher.wordpress.com/2014/01/11/ariel-sharon-has-died-late-jewish-rabbi-said-messiah-would-return-after-former-pms-death/
Rabbi Yitzhak Kaduri, before he passed at 108 years old, predicted several major items with precision. His last prediction was that the "Messiah" would come, but only after the death of Ariel Sharon. Sharon was fine at the time of the prediction. Kaduri died shortly after this prediction, and Sharon had a stroke and went into an 8 year coma.
Well, Sharon just died, so now we see if the Rabbi had Divinely-inspired knowledge. 2014 could be a year to remember, or the last year for planet earth as we know it.
Rabbi Yitzhak Kaduri was known for his photographic memory and his memorization of the Bible, the Talmud, Rashi and other Jewish writings. He knew Jewish sages and celebrities of the last century and rabbis who lived in the Holy Land and kept the faith alive before the State of Israel was born.
Kaduri was not only highly esteemed because of his age of 108. He was charismatic and wise, and chief rabbis looked up to him as a Tsadik, a righteous man or saint. He would give advice and blessings to everyone who asked. Thousands visited him to ask for counsel or healing. His followers speak of many miracles and his students say that he predicted many disasters.
When he died, more than 200,000 people joined the funeral procession on the streets of Jerusalem to pay their respects as he was taken to his final resting place.
“When he comes, the Messiah will rescue Jerusalem from foreign religions that want to rule the city,” Kaduri once said. “They will not succeed for they will fight against one another.”
https://midnightwatcher.wordpress.com/2014/01/11/ariel-sharon-has-died-late-jewish-rabbi-said-messiah-would-return-after-former-pms-death/
Rabbi Yitzhak Kaduri, before he passed at 108 years old, predicted several major items with precision. His last prediction was that the "Messiah" would come, but only after the death of Ariel Sharon. Sharon was fine at the time of the prediction. Kaduri died shortly after this prediction, and Sharon had a stroke and went into an 8 year coma.
Well, Sharon just died, so now we see if the Rabbi had Divinely-inspired knowledge. 2014 could be a year to remember, or the last year for planet earth as we know it.
Rabbi Yitzhak Kaduri was known for his photographic memory and his memorization of the Bible, the Talmud, Rashi and other Jewish writings. He knew Jewish sages and celebrities of the last century and rabbis who lived in the Holy Land and kept the faith alive before the State of Israel was born.
Kaduri was not only highly esteemed because of his age of 108. He was charismatic and wise, and chief rabbis looked up to him as a Tsadik, a righteous man or saint. He would give advice and blessings to everyone who asked. Thousands visited him to ask for counsel or healing. His followers speak of many miracles and his students say that he predicted many disasters.
When he died, more than 200,000 people joined the funeral procession on the streets of Jerusalem to pay their respects as he was taken to his final resting place.
“When he comes, the Messiah will rescue Jerusalem from foreign religions that want to rule the city,” Kaduri once said. “They will not succeed for they will fight against one another.”
https://midnightwatcher.wordpress.com/2014/01/11/ariel-sharon-has-died-late-jewish-rabbi-said-messiah-would-return-after-former-pms-death/
David Stockman - “2014 Is The Year Of The End Game”
"The Fed is engaged in what I refer to as ‘massive monetary central planning,’ erroneously believing that by pegging and fixing interest rates all up and down the curve, putting a ‘put’ under the risk asset markets explicitly targeting indices like the Russell 2000, and trying to generate wealth effects as a way of causing economic growth -- all of those things are part and parcel of the core of what you’ve described -- price fixing on a massive scale in the heart of the financial markets of capitalism.
And that’s the opposite of what is really required. If you don’t have free markets and honest interest rates and true price discovery in these markets, you are going to end up with waves of distortions, bubbles, all the symptoms that we have in this messed up economy that we have today.”
Eric King: “David, as you see it, why does the New York Fed feel the need to be essentially the biggest hedge fund in the world, fixing major markets?”
Stockman: “Because that’s the doctrine. The doctrine is that 12 people on the Open Market Committee can survey a $17 trillion domestic economy, or for that matter an $80 trillion world economy, think it all through, set some targets, and then manipulate the whole system through the crude instrument of short-, middle-, and long-term interest rate price fixing or pegging, and the other supplementary tools that they use, like forward guidance, wealth effects, and so forth. That’s the explanation.”
Eric King: “What is the danger going forward as you see it?
Stockman: “The danger is that none of these markets is stable. None of these markets reflects true supply and demand. None of them properly discounts real-world factors, whether it’s cash flows, economic future, and all the other things that markets are supposed to do.
The markets today jump to the tune of the minutes of the Fed meetings, of daily word clouds that are emitted by various Fed speakers. This really isn’t a capitalist financial market. It is entirely a ‘hothouse’ system driven by a rogue central bank that has totally usurped the role of capital and money markets.”
Eric King: “What are your thoughts as we move through 2014?”
Stockman: “This (2014) is the year of the end game. The party is over. We are now just at the point where they are rounding up the Wall Street drunks who are swilling on the fifth consecutive seasonally maladjusted phony recovery. That will become evident in the weeks and months ahead. Then I think the markets are going to have a pretty rude day of awakening.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/1/10_David_Stockman_-_2014_Is_The_Year_Of_The_End_Game.html
David Stockman - “2014 Is The Year Of The End Game”
"The Fed is engaged in what I refer to as ‘massive monetary central planning,’ erroneously believing that by pegging and fixing interest rates all up and down the curve, putting a ‘put’ under the risk asset markets explicitly targeting indices like the Russell 2000, and trying to generate wealth effects as a way of causing economic growth -- all of those things are part and parcel of the core of what you’ve described -- price fixing on a massive scale in the heart of the financial markets of capitalism.
And that’s the opposite of what is really required. If you don’t have free markets and honest interest rates and true price discovery in these markets, you are going to end up with waves of distortions, bubbles, all the symptoms that we have in this messed up economy that we have today.”
Eric King: “David, as you see it, why does the New York Fed feel the need to be essentially the biggest hedge fund in the world, fixing major markets?”
Stockman: “Because that’s the doctrine. The doctrine is that 12 people on the Open Market Committee can survey a $17 trillion domestic economy, or for that matter an $80 trillion world economy, think it all through, set some targets, and then manipulate the whole system through the crude instrument of short-, middle-, and long-term interest rate price fixing or pegging, and the other supplementary tools that they use, like forward guidance, wealth effects, and so forth. That’s the explanation.”
Eric King: “What is the danger going forward as you see it?
Stockman: “The danger is that none of these markets is stable. None of these markets reflects true supply and demand. None of them properly discounts real-world factors, whether it’s cash flows, economic future, and all the other things that markets are supposed to do.
The markets today jump to the tune of the minutes of the Fed meetings, of daily word clouds that are emitted by various Fed speakers. This really isn’t a capitalist financial market. It is entirely a ‘hothouse’ system driven by a rogue central bank that has totally usurped the role of capital and money markets.”
Eric King: “What are your thoughts as we move through 2014?”
Stockman: “This (2014) is the year of the end game. The party is over. We are now just at the point where they are rounding up the Wall Street drunks who are swilling on the fifth consecutive seasonally maladjusted phony recovery. That will become evident in the weeks and months ahead. Then I think the markets are going to have a pretty rude day of awakening.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/1/10_David_Stockman_-_2014_Is_The_Year_Of_The_End_Game.html