lördag 30 maj 2009

The chickens are all coming home to roost

Knäcken kommer antagligen visa sig på obligations marknaderna först har vi spekularat kring på denna blogg och just nu kanske Obama uttrycker sig någonting i stil med det som Clinton sade 93?

“You mean to tell me that the success of my program and my reelection hinges on the Federal Reserve and a bunch of f***ing bond traders?”

That’s how Bill Clinton responded in 1993, according to an account in Bob Woodward’s The Agenda, after his advisors told him that his ambitious economic plan had to be put on hold because of deficit jitters in the equities markets.

The Agenda: Inside the Clinton White House (Hardcover)by Bob Woodward

Peter Warburton, the British economist and author of "Debt and Delusion," which, published in 1999, showed how the central banks were imperiling the world's economy.

In his April 2001 essay, "The Debasement of World Currency: It Is Inflation, But Not As We Know It," widely distributed on the Internet, Warburton noted not only the central bank gold price suppression scheme but also the central bank scheme against all commodities:

"What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts. On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur. On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities, or anything else that might be deemed an indicator of inherent value. Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value, not only of the U.S. dollar, but of all fiat currencies. Equally, their actions seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets."

You can find that essay at the Gold-Eagle archive here:


Sedan till alla som säger att det ingen kunna förutse det som nui sker så rekommenderas följande bok:

"Debt and Delusion" itself is back in print and you can find information about purchasing it here:

Finns även på Amazon:

Debt and Delusion: Central Bank Follies That Threaten Economic Disaster (Hardcover) by Peter Warburton
There is an unexploded bomb in the global financial system, threatening to bring the greatest disruption to the lives of people since the Depression on the 1930s. This potential explosion has been created by dereliction of duty by the world's largest central banks, which have helped to create an unsustainable illusion of personal wealth and national prosperity, exposing the public to uninsurable risks in the process. This volume looks at how this economic timebomb has been created by unchecked credit expansion and the potential havoc it could wreak.

Inga kommentarer: