Expose Cinema presents an interview with Bill Still. Featured on the program is a clip from his latest documentary film "The Secret of Oz."
Mr. Still is an author and documentary film maker, best known for his documentary "The Money Masters" and it covers the history of money and the Federal Reserve System.
http://www.youtube.com/watch?v=zSL2OO-RuP0
Visar inlägg med etikett Inflation. Visa alla inlägg
Visar inlägg med etikett Inflation. Visa alla inlägg
söndag 23 december 2012
tisdag 25 september 2012
Plosser Says QE3 Risks Fed Credibility, Won’t Boost Jobs
Federal Reserve Bank of Philadelphia President Charles Plosser said new bond buying announced by the Fed this month probably won’t boost growth or hiring and may jeopardize the central bank’s credibility.
“We are unlikely to see much benefit to growth or to employment from further asset purchases,” Plosser said in a speech today at the district bank in Philadelphia. “Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed’s credibility.”
onsdag 19 september 2012
Debt crisis: central bank action is work of the devil, says Germany's Jens Weidmann
The head of Germany’s Bundesbank has raised eyebrows across Europe after he appeared to compare Mario Draghi’s bond buying programme with the "devil’s work".
The Next Recession Will Be Triggered By Oil
At this point all the pieces are in place for the inflationary spike and currency crisis I’ve been predicting for 2014. We now have open ended QE that is tied to economic output and unemployment. But since debasing currencies has historically never been the cure for the bursting of a credit bubble, all the Fed is going to produce is spiraling inflation. So as this progresses we are going to see the Fed printing faster and faster as the result they are looking for never materializes. This is what will ultimately drive the currency crisis at the dollar’s next three year cycle low in 2014.
At this point, watch the price of oil if you want to know when the next recession is going to begin. As I’ve pointed out many times in the past, recessions (well, at least since World War II) have all been preceded by a sharp spike in the price of energy. Any move of 100% or more in a year or less, has historically been the straw that breaks the camel’s back. Modern economies cannot survive that kind of shock. It invariably triggers the collapse of consumer discretionary spending and economic activity comes to a grinding halt.
So we will watch the price of oil as it rises out of its three-year cycle low. If it hits $160 by next summer that will probably be enough to start the economy on the next downward spiral. If politicians get involved (and I’m sure they will) and try to impose price controls, they will multiply the damage and probably guarantee that the next economic downturn escalates into a truly catastrophic depression.
Until we see the spike in oil and the corresponding damage to the economy, no one has any business trying to short anything – well maybe bonds, but even that will be risky because the Fed is going to be actively trying to prop the bond market up and keep interest rates artificially low.
All in all there is going to be so much money to be made on the long side, especially in precious metals, that no one needs to fool around with puny little gains on the short side, especially in a market that is going to be hell to trade from the short side. The time to sell short will be in 2014 after the dollar’s next three year cycle low. The dollar’s rally out of that bottom will correspond with the next global economic collapse, ultimately caused by the decisions made by the ECB and the Fed this past week. I dare say if they could see the damage their decisions are going to inflict upon the world and the dire unintended consequences, maybe they would finally stop kicking the can down the road and let the economy heal naturally. Of course that would entail several years of severe pain and politicians, as we all know, are extremely allergic to that.
The period 2014-2015 is when we are going to see the stock market drop 60-75% and the next great leg down in this secular bear market. But until then there’s probably a pretty good chance we are going to see the S&P at new all-time highs in the next six months-12 months.
torsdag 13 september 2012
In anticipation of a possible QE3 (in December..?)
In the last 30 days (since August 13th), platinum has risen by 18.9%, silver by 18.7%, palladium by 18.4% and gold by 7.6%. All remain well below their nominal record highs (see charts) and more importantly well below their inflation adjusted highs.
While hardly a factor in the Fed's thinking which is due to present its announcement in 4 hours, today's Initial claims report came at 382K, the biggest miss to expectations (370K) in 2 months, and up from last week's naturally upward revised claims of 367K. The 15K jump is the biggest weekly spike in 2 months and 4th largest this year. Just as relevantly, as we warned months ago, those on extended claims continue to run out at a fast pace, with 41K people losing their extended benefits, down by nearly 1.8 million from a year ago, and are forced to seek disability benefits to keep the government dole running. More importantly, and just as Bernanke is doing his best to stoke inflation,producer prices soared by 1.7% in August, up from July's 0.3%, and well above expectations of 1.2%. This was the biggest M/M spike since the 1.9% surge in June of 2009, and was driven primarily by soaring food prices, which however as everyone knows, is not really a factor in the Fed's thinking. "On an unadjusted basis, prices for finished goods climbed 2.0 percent for the 12 months ended August 2012, the largest advance since a 2.8-percent increase for the 12 months ended March 2012." Then again, who out there needs food or energy - inflation is precisely what Bernanke wants, the FOMC will welcome this news with open arms. But at least the Fed will create jobs and get people to give up on renting which is the New Normal buying, and scramble right back into the housing re-bubble.
torsdag 6 september 2012
ECB - an unlimited bond- purchase program
Draghi said policy makers agreed to an unlimited bond- purchase program as they try to regain control of interest rates in the euro area. He said the ECB will have a “fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability.”
http://www.bloomberg.com/news/2012-09-06/u-s-stock-futures-rise-on-ecb-bond-buying-speculation.html
Did the German Bundesbank roll over and die as Die Welt suggest, by yielding to the will of the ECB and Goldman? Or is it merely setting the stage for the inevitable German referendum? Many claim the Italian head of the ECB won today in his ever escalating confrontation with the last remaining German on the ECB governing council, although in reality he is merely doing what he has already done twice before. The outcome will be the same: abject failure to contain the crisis which will not be resolved until and if Europe succeeds in creating a united, Federal state, with one bond issuance authority. That will never happen: after all, 17 European states will never hand over their sovereignty to a third party, especially one which is backstopped by German cash. But it can pretend. In the meantime, Buba will not quietly go, instead it has already stated what it thinks, and what it thinks is that what the ECB is doing (once again) is "tantamount to financing governments by printing banknotes" and that monetary policy is now subjugated to fiscal policy. Full text of the Buba's response below:
http://www.zerohedge.com/news/bundesbank-replies-ecb
The reality is made clear by comparing the ways in which the United States, Britain and Europe handle their public financing.
The U.S. Treasury is by far the world’s largest debtor, and its largest banks seem to be in negative equity, liable to their depositors and to other financial institutions for much larger sums that can be paid by their portfolio of loans, investments and assorted financial gambles.
Yet as global financial turmoil escalates, institutional investors are putting their money into U.S. Treasury bonds – so much that these bonds now yield less than 1%.
By contrast, a quarter of U.S. real estate is in negative equity, American states and cities are facing insolvency and must scale back spending. Large companies are going bankrupt, pension plans are falling deeper into arrears, yet the U.S. economy remains a magnet for global savings.
Britain’s economy also is staggering, yet its government is paying just 2% interest. But European governments are now paying over 7%.
The reason for this disparity is that they lack a “public option” in money creation.
Having a Federal Reserve Bank or Bank of England that can print the money to pay interest or roll over existing debts is what makes the United States and Britain different from Europe.
Nobody expects these two nations to be forced to sell off their public lands and other assets to raise the money to pay (although they may do this as a policy choice). Given that the U.S. Treasury and Federal Reserve can create new money, it follows that as long as government debts are denominated in dollars, they can print enough IOUs on their computer keyboards so that the only risk that holders of Treasury bonds bear is the dollar’s exchange rate vis-à-vis other currencies.
By contrast, the Eurozone has a central bank, but Article 123 of the Lisbon treaty forbids the ECB from doing what central banks were created to do: create the money to finance government budget deficits or roll over their debt falling due.
Future historians no doubt will find it remarkable that there actually is a rationale behind this policy – or at least the pretense of a cover story. It is so flimsy that any student of history can see how distorted it is. The claim is that if a central bank creates credit, this threatens price stability. Only government spending is deemed to be inflationary, not private credit!
http://www.opednews.com/populum/linkframe.php?linkid=142840
Europe’s Transition From Social Democracy to Oligarchy
http://intheendwerealldebt.blogspot.se/2012/02/europes-transition-from-social.html
In fact the ECB now creates "debt free money" and that Article 123 is overruled. Thus this is the solution long promoted by people like e.g. Bill Still amd AIM and Stephen Zarlenga:
Bill Still says Ron Paul WRONG on Gold Standard on Keiser Repo
http://intheendwerealldebt.blogspot.se/2012/01/bill-still-says-ron-paul-wrong-on-gold.html
Only issue is that there are some conditionalitys to the ECB solution:
The ECB & Conditionality
The markets may rally today, yields may fall as the ECB pulled out the BIG words, “without limit” and “no cap.” This is the focus of the market and it is a very wrong focus. The entire ECB scheme is dependent on conditionality and this is the key to all of the hype!
Any action by the ECB will be telegraphed well in advance because of it; if anything happens at all. The ECB has now said that it will do nothing, not anything, without a country applying for assistance and without the agreement of the Stabilization Funds which means that the EU and perhaps the IMF will have to agree. To accept any application from a country then that nation will be audited as part of the process. Bear in mind that now when a country submits its numbers to Eurostat or to the Bank for International Settlements that no one, no fiscal oversight commission, audits the books and records of a nation in Europe. This is true for the sovereign and this is true for the banks domiciled in a country. The audits that have been conducted have all been for the troubled nations that have lined-up for aid. In each case, every case, with Greece being the most notable example the numbers have not been as presented. This was true for Greece, Ireland and Portugal.
So the ECB disavows the bond buying for Portugal, Ireland and Greece and the focus is upon who is coming next which is really Spain and Italy. Spain, by their own tacit admission, uses “dynamic provisioning” as part of their economic policy. They stick to this on the basis of manipulating their reserves in good times and bad times and there is quite an academic argument appended to this notion but what cannot be denied is that it all gets down to fiddling with their books. Consequently it is a good assumption based upon sound logic that their books, the balance sheet for the country and their banks, are not as presented or thought. This is one reason, in my view, why Spain does not want a full bailout because it would mean that the sovereign and the Spanish banks would be subject to an audit and that certain discrepancies would have to be accounted for in front of God and their brethren.
Next we have hard evidence that the EU may not approve any such assistance programs. The Prime Minister of the Netherlands has said “No more money for Greece” while the Finance Minister of Austria has stated quite clearly that Austria has had enough and that Austria will not be giving anymore of her citizen’s money to any other country in Europe. I think both statements are clear enough.
Consequently all of the ECB hype, jargon and fluff have no value if the EU won’t approve any of the aid programs. It is all just rhetoric floating around in the air. Even if the EU approved some program for Spain or Italy it would take months and the ECB has specifically said that they will not act, not buy any bonds, without the approval of the Stabilization Funds. The ECB scheme is cleverly designed and it reminds me of the second round of the European bank stress tests where the methodology was really fraudulent and hid the actuality as Dexia, Bankia and several Austrian banks have gone bust since then after we were assured, in the strongest of terms, that they were safe. The ECB has spoken and promised to buy “without limit” but since it is dependent on an European Union where several nations do not wish to fund I find our current rallies dependent upon an assumption that is faulty and perhaps dangerously faulty in its basis.
Next step is allowing each country to do this themselves as well as QE for the people not the banks.
http://www.bloomberg.com/news/2012-09-06/u-s-stock-futures-rise-on-ecb-bond-buying-speculation.html
Did the German Bundesbank roll over and die as Die Welt suggest, by yielding to the will of the ECB and Goldman? Or is it merely setting the stage for the inevitable German referendum? Many claim the Italian head of the ECB won today in his ever escalating confrontation with the last remaining German on the ECB governing council, although in reality he is merely doing what he has already done twice before. The outcome will be the same: abject failure to contain the crisis which will not be resolved until and if Europe succeeds in creating a united, Federal state, with one bond issuance authority. That will never happen: after all, 17 European states will never hand over their sovereignty to a third party, especially one which is backstopped by German cash. But it can pretend. In the meantime, Buba will not quietly go, instead it has already stated what it thinks, and what it thinks is that what the ECB is doing (once again) is "tantamount to financing governments by printing banknotes" and that monetary policy is now subjugated to fiscal policy. Full text of the Buba's response below:
http://www.zerohedge.com/news/bundesbank-replies-ecb
The reality is made clear by comparing the ways in which the United States, Britain and Europe handle their public financing.
The U.S. Treasury is by far the world’s largest debtor, and its largest banks seem to be in negative equity, liable to their depositors and to other financial institutions for much larger sums that can be paid by their portfolio of loans, investments and assorted financial gambles.
Yet as global financial turmoil escalates, institutional investors are putting their money into U.S. Treasury bonds – so much that these bonds now yield less than 1%.
By contrast, a quarter of U.S. real estate is in negative equity, American states and cities are facing insolvency and must scale back spending. Large companies are going bankrupt, pension plans are falling deeper into arrears, yet the U.S. economy remains a magnet for global savings.
Britain’s economy also is staggering, yet its government is paying just 2% interest. But European governments are now paying over 7%.
The reason for this disparity is that they lack a “public option” in money creation.
Having a Federal Reserve Bank or Bank of England that can print the money to pay interest or roll over existing debts is what makes the United States and Britain different from Europe.
Nobody expects these two nations to be forced to sell off their public lands and other assets to raise the money to pay (although they may do this as a policy choice). Given that the U.S. Treasury and Federal Reserve can create new money, it follows that as long as government debts are denominated in dollars, they can print enough IOUs on their computer keyboards so that the only risk that holders of Treasury bonds bear is the dollar’s exchange rate vis-à-vis other currencies.
By contrast, the Eurozone has a central bank, but Article 123 of the Lisbon treaty forbids the ECB from doing what central banks were created to do: create the money to finance government budget deficits or roll over their debt falling due.
Future historians no doubt will find it remarkable that there actually is a rationale behind this policy – or at least the pretense of a cover story. It is so flimsy that any student of history can see how distorted it is. The claim is that if a central bank creates credit, this threatens price stability. Only government spending is deemed to be inflationary, not private credit!
http://www.opednews.com/populum/linkframe.php?linkid=142840
Europe’s Transition From Social Democracy to Oligarchy
http://intheendwerealldebt.blogspot.se/2012/02/europes-transition-from-social.html
In fact the ECB now creates "debt free money" and that Article 123 is overruled. Thus this is the solution long promoted by people like e.g. Bill Still amd AIM and Stephen Zarlenga:
Bill Still says Ron Paul WRONG on Gold Standard on Keiser Repo
http://intheendwerealldebt.blogspot.se/2012/01/bill-still-says-ron-paul-wrong-on-gold.html
Only issue is that there are some conditionalitys to the ECB solution:
The ECB & Conditionality
The markets may rally today, yields may fall as the ECB pulled out the BIG words, “without limit” and “no cap.” This is the focus of the market and it is a very wrong focus. The entire ECB scheme is dependent on conditionality and this is the key to all of the hype!
Any action by the ECB will be telegraphed well in advance because of it; if anything happens at all. The ECB has now said that it will do nothing, not anything, without a country applying for assistance and without the agreement of the Stabilization Funds which means that the EU and perhaps the IMF will have to agree. To accept any application from a country then that nation will be audited as part of the process. Bear in mind that now when a country submits its numbers to Eurostat or to the Bank for International Settlements that no one, no fiscal oversight commission, audits the books and records of a nation in Europe. This is true for the sovereign and this is true for the banks domiciled in a country. The audits that have been conducted have all been for the troubled nations that have lined-up for aid. In each case, every case, with Greece being the most notable example the numbers have not been as presented. This was true for Greece, Ireland and Portugal.
So the ECB disavows the bond buying for Portugal, Ireland and Greece and the focus is upon who is coming next which is really Spain and Italy. Spain, by their own tacit admission, uses “dynamic provisioning” as part of their economic policy. They stick to this on the basis of manipulating their reserves in good times and bad times and there is quite an academic argument appended to this notion but what cannot be denied is that it all gets down to fiddling with their books. Consequently it is a good assumption based upon sound logic that their books, the balance sheet for the country and their banks, are not as presented or thought. This is one reason, in my view, why Spain does not want a full bailout because it would mean that the sovereign and the Spanish banks would be subject to an audit and that certain discrepancies would have to be accounted for in front of God and their brethren.
Next we have hard evidence that the EU may not approve any such assistance programs. The Prime Minister of the Netherlands has said “No more money for Greece” while the Finance Minister of Austria has stated quite clearly that Austria has had enough and that Austria will not be giving anymore of her citizen’s money to any other country in Europe. I think both statements are clear enough.
Consequently all of the ECB hype, jargon and fluff have no value if the EU won’t approve any of the aid programs. It is all just rhetoric floating around in the air. Even if the EU approved some program for Spain or Italy it would take months and the ECB has specifically said that they will not act, not buy any bonds, without the approval of the Stabilization Funds. The ECB scheme is cleverly designed and it reminds me of the second round of the European bank stress tests where the methodology was really fraudulent and hid the actuality as Dexia, Bankia and several Austrian banks have gone bust since then after we were assured, in the strongest of terms, that they were safe. The ECB has spoken and promised to buy “without limit” but since it is dependent on an European Union where several nations do not wish to fund I find our current rallies dependent upon an assumption that is faulty and perhaps dangerously faulty in its basis.
Next step is allowing each country to do this themselves as well as QE for the people not the banks.
tisdag 4 september 2012
Riding out this Depression on a Deflationary Debt Raft
http://www.youtube.com/watch?feature=player_embedded&v=iquemUNNYY8#!
Then regarding the question "what caused creditsm" Richard Duncan argues it was related to the first and second world wars as they left the gold standard and the goverments share of the overal economy was significantely increased via the creation of credit.
In the US the fact the US oil production peaked 1970 as predicted by Marion King Hubbert seems to correlate indeed very well with the timing of the well over 50 times increase in total market debt owed since before 1970 to today from one trillion to 53 trillion in only 43 years..
Q: If America’s oil production peaked in 1970 and has been declining ever since, how has America been able to feed its own growing demand?
A: Imports from foreign nations.
It is no secret that America is addicted to oil. Our nation’s appetite for oil has been steadily increasing over the last several decades. In 1970, the year of America’s peak oil production, we imported only 24% of our oil from foreign nations. Today, that number has increased to 70%. And it is growing. In fact, each and every day America consumes around 25% of the world’s available oil production. That’s about 18.8 million barrels a day! What makes this number even more staggering is that America only makes up 5% of the global population. This means that the remaining 95% of the world’s population must grow and maintain their economies with only 75% of the world’s oil supplies. Sadly, America’s dependency upon foreign oil has exposed our nation’s obsession with overconsumption. Never before in history has one nation been as dependent upon foreign nations for its own supply of energy as America is today.
http://www.youtube.com/watch?feature=player_embedded&v=iquemUNNYY8
Add to that a very different geopolitical areana as illustrated in the ever increasing political turmoil in the middle east after 1970 as the US domestic oil production peaked and the US has to make sure and secure its oil was imported to the country to an ever increasing extent from the region in the world with the largest oil supply - the middle east..
Now as everybody and everything in the economy, goverments, the private sector, housholds etc are totaly saturated in debt we have hit what only can be described as "Peak Credit. This means were now entering a new era we can define as "The End of Growt":
Part 1
http://www.youtube.com/watch?v=p_-uomh0iY0
Part 2
http://www.youtube.com/watch?v=QPYPX-57K3o&feature=relmfu
The End of Growth
http://www.amazon.ca/The-End-Growth-Jeff-Rubin/dp/030736089X
and here mr Rubins first book:
Why Your World Is About to Get a Whole Lot Smaller
http://www.amazon.ca/Your-World-About-Whole-Smaller/dp/0307357511/ref=pd_bxgy_b_img_b
Then regarding the question "what caused creditsm" Richard Duncan argues it was related to the first and second world wars as they left the gold standard and the goverments share of the overal economy was significantely increased via the creation of credit.
In the US the fact the US oil production peaked 1970 as predicted by Marion King Hubbert seems to correlate indeed very well with the timing of the well over 50 times increase in total market debt owed since before 1970 to today from one trillion to 53 trillion in only 43 years..
Q: If America’s oil production peaked in 1970 and has been declining ever since, how has America been able to feed its own growing demand?
A: Imports from foreign nations.
It is no secret that America is addicted to oil. Our nation’s appetite for oil has been steadily increasing over the last several decades. In 1970, the year of America’s peak oil production, we imported only 24% of our oil from foreign nations. Today, that number has increased to 70%. And it is growing. In fact, each and every day America consumes around 25% of the world’s available oil production. That’s about 18.8 million barrels a day! What makes this number even more staggering is that America only makes up 5% of the global population. This means that the remaining 95% of the world’s population must grow and maintain their economies with only 75% of the world’s oil supplies. Sadly, America’s dependency upon foreign oil has exposed our nation’s obsession with overconsumption. Never before in history has one nation been as dependent upon foreign nations for its own supply of energy as America is today.
http://www.youtube.com/watch?feature=player_embedded&v=iquemUNNYY8
Add to that a very different geopolitical areana as illustrated in the ever increasing political turmoil in the middle east after 1970 as the US domestic oil production peaked and the US has to make sure and secure its oil was imported to the country to an ever increasing extent from the region in the world with the largest oil supply - the middle east..
Now as everybody and everything in the economy, goverments, the private sector, housholds etc are totaly saturated in debt we have hit what only can be described as "Peak Credit. This means were now entering a new era we can define as "The End of Growt":
Part 1
http://www.youtube.com/watch?v=p_-uomh0iY0
Part 2
http://www.youtube.com/watch?v=QPYPX-57K3o&feature=relmfu
The End of Growth
http://www.amazon.ca/The-End-Growth-Jeff-Rubin/dp/030736089X
and here mr Rubins first book:
Why Your World Is About to Get a Whole Lot Smaller
http://www.amazon.ca/Your-World-About-Whole-Smaller/dp/0307357511/ref=pd_bxgy_b_img_b
tisdag 24 juli 2012
Barclays PLC : Risk Of Global Food Price Inflation Grows On US Drought
LONDON--The risk of another wave of global food price inflation is growing fast, Barclays PLC (BCS) said Wednesday, as U.S. grains and soybeans prices trade within touching distance of all-time highs, due to the nation's worst drought in 56 years, which is massively reducing harvest expectations.
Bad weather in Black Sea grain-exporting regions, a poor start to the Indian monsoons and an incipient El Nino are all adding to weather concerns, the bank said, which suggests that physical tightness could spread from U.S. corn and soybeans to many other regions and crops in coming months.
Rising agricultural commodity prices have sparked severe bouts of food price inflation twice in the past few years, Barclays said, with food riots occurring in many parts of the world in 2007-8 and also contributing to unrest in the Middle East last year.
Now the potential for further production downgrades, strong demand from major food importers and sharply rising input costs all suggest there is significant price upside ahead, Barclays added, especially in wheat, corn and soybeans futures.
http://www.4-traders.com/BARCLAYS-PLC-9583556/news/Barclays-PLC-Risk-Of-Global-Food-Price-Inflation-Grows-On-US-Drought-14419805/
Bad weather in Black Sea grain-exporting regions, a poor start to the Indian monsoons and an incipient El Nino are all adding to weather concerns, the bank said, which suggests that physical tightness could spread from U.S. corn and soybeans to many other regions and crops in coming months.
Rising agricultural commodity prices have sparked severe bouts of food price inflation twice in the past few years, Barclays said, with food riots occurring in many parts of the world in 2007-8 and also contributing to unrest in the Middle East last year.
Now the potential for further production downgrades, strong demand from major food importers and sharply rising input costs all suggest there is significant price upside ahead, Barclays added, especially in wheat, corn and soybeans futures.
http://www.4-traders.com/BARCLAYS-PLC-9583556/news/Barclays-PLC-Risk-Of-Global-Food-Price-Inflation-Grows-On-US-Drought-14419805/
fredag 2 mars 2012
Brazil slams rich countries over 'currency war'
BRASILIA, March 1 (Reuters) - Brazilian President Dilma Rousseff slammed rich nations on Thursday for unleashing a “tsunami” of cheap money that threatened to “cannibalize” poorer countries such as her own, forcing them to act to protect struggling local industries.Rousseff’s words amounted to some of the highest-profile criticism to date of efforts by the European Central Bank, the Bank of Japan and others to spur their economies through low interest rates and cheap loans.Without naming specific countries, Rousseff said these measures have damaged emerging-market nations such as Brazil by unleashing a wave of capital inflows. That has made their currencies overvalued and their exports more expensive.
http://www.canada.com/news/Brazil+slams+rich+countries+over+currency/6237627/story.html
http://www.canada.com/news/Brazil+slams+rich+countries+over+currency/6237627/story.html
These events are all outlayed in Mr Rickards book. If you haven't yet read it. Then in the below interwiev and in the "chaos" scenario Mr Rickards actually beleives is the most likely the "C" word is mentioned in conjunction to privatley owned gold and as part of what he sees is about to happen as that event unfolds..
Currency Wars: The Making of the Next Global Crisis
http://finance.yahoo.com/blogs/daily-ticker/james-rickards-four-horsemen-dollar-apocalypse-143742524.html
torsdag 23 februari 2012
Tsunami of debt: Japan faces costs of credit
While the world’s attention has been focused on the eurozone debt crisis, Japan’s borrowing has hit a record high of 235% of the country’s GDP. The prospect of going down credit rating ladders as its debt costs increase is hanging over the country.
http://rt.com/business/news/tsunami-debt-credit-japan-031/
http://rt.com/business/news/tsunami-debt-credit-japan-031/
lördag 18 februari 2012
Gold as money a terrible misstake
In a world where fiat currencys are in the process of beeing debased as we speak it may seem they are keeping up their value as the relationship vs another fiat currency may not change that much overtime as they all and together go down in a downwards spiral valuation vice.
In such a world the relative value of commodeties such as e.g. gold is a good investment. This as for instance gold maintains its purchasing value over time and thus protects wealth.
Bottom line and key here is that the driver when Gold is increasing in value is that what actually is happening is that currencys are loosing in purchasing power relative everything else.
"after The Fed’s creation, from 1913 to 2008 (95 years), the value of the dollar, relative to the Consumer Price Index, decreased by 95%. A dollar could buy 95% fewer goods in 2008 than in 1913. Thus, if in 1913, you sat on your savings pile of $1,000,000 for 95 years, it would then be worth only $50,000 in purchasing power (it will have depreciated in value by 95%). One would now need to pay about 20X more than J.P. Morgan for one’s bread.
Ask my mother how much the price of milk has increased just in the last ten years alone.In other words, the value of the dollar remained extremely stable for 150 years, then The Fed was created in order to "stabilize the value of the dollar" and the result has been a 95% devaluation of the dollar in less than 100 years following its creation.
Below is a graph of this history, which I’ve marked with the year 1913 so you can see the change. The graph is also marked with the years of decoupling from the gold standard, as no examination of dollar value would be sound without such mention."
http://www.lewrockwell.com/orig10/voorhees1.1.1.html
No wander people now are turning to hard assets:
http://www.youtube.com/watch?v=umSZOKNHY-M&feature=player_embedded
Question then is how should our monetary system be reformed in order to mend
thise issues?
Clear is we must not make the misstake and base a new monetary system on a gold standard because:
in a world ruled by the wealthy money is defines as wealth (e.g. gold)
In a world ruled by the bankers (as we have today) money is defined as credit
In a world ruled by the people and for the people money is defined by law.
The underlying reason for the financial crisis we now see unfolding in all the OECD countries is based on the fact money today is created as debt and as debt saturation now has reached completely unsustainable levels in ALL parts of our society, (private as well as goverment) the economy is now set up for a real crash as we now can
witness there are basically only two options awailabe for the current establishement to try to solve the challange of over in debt ness.
One is austerity to an extent never in fact seen before (the European prefered solution it seems) or extensive money printing as prefered by the US where today ALL of the tax generating incom on an annual basis (some 2 $trillion) is used to back stop new money printing.
Un sustainable as real and viable economic recovery never has been made successfull by reducing a populations standard of living to more or less a stone age level and as getting in to more debt in order to pay off interest of old debt that not is annualised never was a good idea.
Here more about the real viable alternativ to our current debt based system:
Max Keiser interviews Bill Still
http://www.youtube.com/watch?v=UGEPqe7DwLc
Stephen Zarlenga works with Rep. Kucinich on The American Monetary Act, designed to resolve the banking crisis. This clip from a longer film defines 3 steps: In addition to nationalizing the Fed. and removing the power of banks to
create money as debt out of thin air, the Act reminds us of the Constitution, Article I, Sec. 8, that states that our government has the sovereign power to issue money and spend it into circulation. Whatever you think about point 3 - the government could not possibly do any worse than the banks.
http://www.youtube.com/watch?v=V_kbyAl3-AM&feature=related
In the above Zarlenga discusses the FED relationship vs the Treasurie but rest assured the same kind of issues prevails relative how now central banks act in Europe. Listen here to what proffessor Hudson says at 06:30 about real choises and also at 09:30 about the Maastricht criteria and the ability of European Central Banks to act as Central banks:
http://www.youtube.com/watch?v=8HWPxQV9FFgu
Then regarding preciouse metals you then also need to understand the history e.g. as Gold in 1933 actually was confiscated and owning gold by US citicens not allowed again until 1971
You also need to know Silver was included in these events:
1934: In accordance to the Silver Purchase Act of 1934, U.S. President Roosevelt issued executive order No. 6814 to confiscate and nationalize silver, and outlawing private ownership of quantities more than 500 troy ounces.
March 6, 1933: To curb mass panics and bank runs, President Roosevelt declared a four-day Bank Holiday to stop hoarding and export of gold and silver. The "Emergency Banking Act" passed on Day 3 shut down banks, which needed to be deemed "financially secure" to be reopened.
http://www.reuters.com/article/2011/04/25/us-silver-history-idUSTRE73O13O20110425
Gold Confiscation: Could it Happen Again?
People who scoff at the suggestion that the government might restrict private gold ownership should remember that many other countries have restrictions on (or absolute prohibitions against) private gold ownership. They should also remember that, in 1933, Franklin Delano Roosevelt dealt with a monetary and banking crisis by confiscating all privately owned gold; paying for the gold at $20.67 per ounce; immediately devaluing the dollar by 40 percent; and setting the price of gold at $35.00 per ounce. At a single stroke, Roosevelt increased the government's gold assets, stabilized the monetary system and increased wholesale prices by more than 33 percent. However, he also inflicted losses of 40 percent on gold owners and stripped them of the gold that they saved to insure their financial futures.
http://www.blanchardonline.com/beru/confiscation_again.php
Sure is we now have a real monetary crisis world wide and if you want a world where money then in some form would be backed by gold well then what happened above sure could happen again.
By the way there are other ways in order to revalue an asset e.g. by introducing new trading limits and restrictions. In that regards the story about the Hunt brothers sure is worth while reading.
The Hunt Brothers Silver Corner
http://fskrealityguide.blogspot.com/2008/02/hunt-brothers-silver-corner.html
In the mean time more and more people are now waking up to the fact our current monetary and fianancial system simply isen't worth saving:
The loan sharks are now beating up a poor viktim as an example for all the others
http://intheendwerealldebt.blogspot.com/2012/02/loan-sharks-are-now-beating-up-poor.html
In such a world the relative value of commodeties such as e.g. gold is a good investment. This as for instance gold maintains its purchasing value over time and thus protects wealth.
Bottom line and key here is that the driver when Gold is increasing in value is that what actually is happening is that currencys are loosing in purchasing power relative everything else.
"after The Fed’s creation, from 1913 to 2008 (95 years), the value of the dollar, relative to the Consumer Price Index, decreased by 95%. A dollar could buy 95% fewer goods in 2008 than in 1913. Thus, if in 1913, you sat on your savings pile of $1,000,000 for 95 years, it would then be worth only $50,000 in purchasing power (it will have depreciated in value by 95%). One would now need to pay about 20X more than J.P. Morgan for one’s bread.
Ask my mother how much the price of milk has increased just in the last ten years alone.In other words, the value of the dollar remained extremely stable for 150 years, then The Fed was created in order to "stabilize the value of the dollar" and the result has been a 95% devaluation of the dollar in less than 100 years following its creation.
Below is a graph of this history, which I’ve marked with the year 1913 so you can see the change. The graph is also marked with the years of decoupling from the gold standard, as no examination of dollar value would be sound without such mention."
http://www.lewrockwell.com/orig10/voorhees1.1.1.html
No wander people now are turning to hard assets:
http://www.youtube.com/watch?v=umSZOKNHY-M&feature=player_embedded
Question then is how should our monetary system be reformed in order to mend
thise issues?
Clear is we must not make the misstake and base a new monetary system on a gold standard because:
in a world ruled by the wealthy money is defines as wealth (e.g. gold)
In a world ruled by the bankers (as we have today) money is defined as credit
In a world ruled by the people and for the people money is defined by law.
The underlying reason for the financial crisis we now see unfolding in all the OECD countries is based on the fact money today is created as debt and as debt saturation now has reached completely unsustainable levels in ALL parts of our society, (private as well as goverment) the economy is now set up for a real crash as we now can
witness there are basically only two options awailabe for the current establishement to try to solve the challange of over in debt ness.
One is austerity to an extent never in fact seen before (the European prefered solution it seems) or extensive money printing as prefered by the US where today ALL of the tax generating incom on an annual basis (some 2 $trillion) is used to back stop new money printing.
Un sustainable as real and viable economic recovery never has been made successfull by reducing a populations standard of living to more or less a stone age level and as getting in to more debt in order to pay off interest of old debt that not is annualised never was a good idea.
Here more about the real viable alternativ to our current debt based system:
Max Keiser interviews Bill Still
http://www.youtube.com/watch?v=UGEPqe7DwLc
Stephen Zarlenga works with Rep. Kucinich on The American Monetary Act, designed to resolve the banking crisis. This clip from a longer film defines 3 steps: In addition to nationalizing the Fed. and removing the power of banks to
create money as debt out of thin air, the Act reminds us of the Constitution, Article I, Sec. 8, that states that our government has the sovereign power to issue money and spend it into circulation. Whatever you think about point 3 - the government could not possibly do any worse than the banks.
http://www.youtube.com/watch?v=V_kbyAl3-AM&feature=related
In the above Zarlenga discusses the FED relationship vs the Treasurie but rest assured the same kind of issues prevails relative how now central banks act in Europe. Listen here to what proffessor Hudson says at 06:30 about real choises and also at 09:30 about the Maastricht criteria and the ability of European Central Banks to act as Central banks:
http://www.youtube.com/watch?v=8HWPxQV9FFgu
Then regarding preciouse metals you then also need to understand the history e.g. as Gold in 1933 actually was confiscated and owning gold by US citicens not allowed again until 1971
You also need to know Silver was included in these events:
1934: In accordance to the Silver Purchase Act of 1934, U.S. President Roosevelt issued executive order No. 6814 to confiscate and nationalize silver, and outlawing private ownership of quantities more than 500 troy ounces.
March 6, 1933: To curb mass panics and bank runs, President Roosevelt declared a four-day Bank Holiday to stop hoarding and export of gold and silver. The "Emergency Banking Act" passed on Day 3 shut down banks, which needed to be deemed "financially secure" to be reopened.
http://www.reuters.com/article/2011/04/25/us-silver-history-idUSTRE73O13O20110425
Gold Confiscation: Could it Happen Again?
People who scoff at the suggestion that the government might restrict private gold ownership should remember that many other countries have restrictions on (or absolute prohibitions against) private gold ownership. They should also remember that, in 1933, Franklin Delano Roosevelt dealt with a monetary and banking crisis by confiscating all privately owned gold; paying for the gold at $20.67 per ounce; immediately devaluing the dollar by 40 percent; and setting the price of gold at $35.00 per ounce. At a single stroke, Roosevelt increased the government's gold assets, stabilized the monetary system and increased wholesale prices by more than 33 percent. However, he also inflicted losses of 40 percent on gold owners and stripped them of the gold that they saved to insure their financial futures.
http://www.blanchardonline.com/beru/confiscation_again.php
Sure is we now have a real monetary crisis world wide and if you want a world where money then in some form would be backed by gold well then what happened above sure could happen again.
By the way there are other ways in order to revalue an asset e.g. by introducing new trading limits and restrictions. In that regards the story about the Hunt brothers sure is worth while reading.
The Hunt Brothers Silver Corner
http://fskrealityguide.blogspot.com/2008/02/hunt-brothers-silver-corner.html
In the mean time more and more people are now waking up to the fact our current monetary and fianancial system simply isen't worth saving:
The loan sharks are now beating up a poor viktim as an example for all the others
http://intheendwerealldebt.blogspot.com/2012/02/loan-sharks-are-now-beating-up-poor.html
fredag 17 februari 2012
Guest Post: Do We Really Know Greece's Default Will Be Orderly?
"derivates related to bond insurance"... say no more.
http://www.zerohedge.com/news/guest-post-do-we-really-know-greeces-default-will-be-orderly
Greek 1 Year At 629%, Biggest One Day Jump In Yield Ever
http://www.zerohedge.com/news/greek-1-year-629-biggest-one-day-jump-yield-ever
http://www.zerohedge.com/news/guest-post-do-we-really-know-greeces-default-will-be-orderly
Greek 1 Year At 629%, Biggest One Day Jump In Yield Ever
http://www.zerohedge.com/news/greek-1-year-629-biggest-one-day-jump-yield-ever
Money printing or Austerity - Really today the only options awailable before the current financial system collapses
Today Egon von Greyerz told King World News that the consolidation in gold is ending and gold will begin a major upside advance starting next week. Von Greyerz also discussed the very serious conditions facing Europe and the United States. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Here is what von Greyerz had to say about what is happening: “I’m looking at the world getting more problematic every day. Let us just take Greece as an example. People say Greece is small and it is small, but it’s very significant. You are seeing riots in Greece. Those riots are due to austerity.”
If there is a formal default, there is no option for the banks. Jim Sinclair has been talking about this, US banks are carrying the biggest part of these CDS’s....
“The US banks, in total, have $250 trillion in derivatives. Of the total derivatives, maybe $30 trillion is in the form of credit default swaps. So that would be an absolute disaster for the US banks and for the US economy.
We have pressures coming out of Europe, but in the US we see no austerity whatsoever. What is the US doing? The US is basically increasing their borrowings by $2 trillion per year. $2 trillion is the same as the tax revenue of the US. They are borrowing as much as their tax revenue and they will never be able to repay the debt.
So the US is going in the other direction. No austerity, instead spending themselves into bankruptcy. This will soon have an effect on the US economy, bond market and the US dollar. The fact that the US is not downgraded to junk is just ridiculous. They should be. But of course the rating agencies don’t dare to do that.
We are in a situation that cannot be fixed. It may lead, as I’ve been saying, to a total collapse of the financial system. Before that happens, governments will try to print unlimited amounts of money. This will result in currencies worldwide losing their value and this will be reflected in the price of gold.”
Von Greyerz also added:
“The ECB and the eurozone governments are working on ring-fencing, but you can’t ring-fence these markets. These markets are international and totally interconnected. If Greece defaults, everybody will start attacking the other weak countries.
We are looking here at a situation where it is the last snowflake creating the avalanche. You only need a little bit happening in Greece and it will spread everywhere. If Greece defaults, they can’t ring-fence any other country for more than a short period of time. So they don’t dare let this to happen because it would be catastrophic for the world.
My view remains they will print money because if they fail at that we will have no financial system whatsoever. Printing money will not solve anything, but short-term it will again defer the problem and kick the can down the road.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/17_Greyerz_-_Gold_to_Begin_a_Major_Advance_Starting_Next_Week.html
If there is a formal default, there is no option for the banks. Jim Sinclair has been talking about this, US banks are carrying the biggest part of these CDS’s....
“The US banks, in total, have $250 trillion in derivatives. Of the total derivatives, maybe $30 trillion is in the form of credit default swaps. So that would be an absolute disaster for the US banks and for the US economy.
We have pressures coming out of Europe, but in the US we see no austerity whatsoever. What is the US doing? The US is basically increasing their borrowings by $2 trillion per year. $2 trillion is the same as the tax revenue of the US. They are borrowing as much as their tax revenue and they will never be able to repay the debt.
So the US is going in the other direction. No austerity, instead spending themselves into bankruptcy. This will soon have an effect on the US economy, bond market and the US dollar. The fact that the US is not downgraded to junk is just ridiculous. They should be. But of course the rating agencies don’t dare to do that.
We are in a situation that cannot be fixed. It may lead, as I’ve been saying, to a total collapse of the financial system. Before that happens, governments will try to print unlimited amounts of money. This will result in currencies worldwide losing their value and this will be reflected in the price of gold.”
Von Greyerz also added:
“The ECB and the eurozone governments are working on ring-fencing, but you can’t ring-fence these markets. These markets are international and totally interconnected. If Greece defaults, everybody will start attacking the other weak countries.
We are looking here at a situation where it is the last snowflake creating the avalanche. You only need a little bit happening in Greece and it will spread everywhere. If Greece defaults, they can’t ring-fence any other country for more than a short period of time. So they don’t dare let this to happen because it would be catastrophic for the world.
My view remains they will print money because if they fail at that we will have no financial system whatsoever. Printing money will not solve anything, but short-term it will again defer the problem and kick the can down the road.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/17_Greyerz_-_Gold_to_Begin_a_Major_Advance_Starting_Next_Week.html
Sherry Peel Jackson - Breaking The Invisible Shackles Of The IRS
By Sherry Peel Jackson, Certified Fraud Examiner and Ex-IRS agent. She Challenges all citizens to demand answers from congress about the legality of Federal Income taxes and the Federal Reserve. This is a 2 hour lecture about some of the inner secrets of the IRS, and the fundamental lack of juridical framework that supports it.Read her story here: http://conspiracyplanet.com/channel.cfm?channelid=111&contentid=4480
http://www.youtube.com/watch?v=btJtIImmGfw
http://www.youtube.com/watch?v=btJtIImmGfw
torsdag 16 februari 2012
While You Were Sleeping, Central Banks Flooded The World In Liquidity
There are those who have been waiting to buy undilutable precious metals in response to a headline announcement from the Fed that it is starting to buy up hundreds of billions of Treasurys or MBS. This is understandable - after all that is precisely the trigger that the headline scanning robots which account for 90% of market action in the past year are programmed to do. And the worst thing that one can do is put on the right trade at the wrong time. Yet it may come as a surprise to some, that while the world was waiting, and waiting, and waiting, for Bernanke to hit the Print button, virtually every other central bank was quietly unleashing it own mini tsunami of liquidity.
In fact, as Morgan Stanley puts it, "the Great Monetary Easing Part 2 is in full swing." But wait, there's more: in an Austrian world, where fundamentals don't matter and only how much additional nominal fiat is created is relevant, it is sheer idiocy to assume that the printers will stop here... or anywhere for that matter. They simply can't, now that the marginal utility of every dollars is sub 1.00 relative to GDP creation. This means that by the time the Global Weimar is in full swing, we will see much, much more easing. Sure enough, MS anticipates an unprecedented additional round of easing in the months ahead. So for those waiting to buy gold et al at the same time as DE Shaw's correlation quants do, the time will be long gone. Because slowly everyone is realizing that it is not the Fed that is the marginal creator of fake money. It is everyone.
Behold, the Great Monetary Easing part 2:
http://www.zerohedge.com/news/while-you-were-sleeping-central-banks-flooded-world-liquidity
Jim Sinclair: The Impending Undeclared Default Of 5 Major US Bank
The following interview with Ellis Martin of www.EllisMartinReport.com covers in detail the impending undeclared default of 5 major US banks this week by the International Swaps and Derivatives Association. This even has the potential to cause a second financial crisis that would require significant financial intervention. If you have time to spare, listen to this interview. If you don’t have time to spare, listen to it anyway.
http://profitimes.com/free-articles/jim-sinclair-the-impending-undeclared-default-of-5-major-us-banks/
In fact, as Morgan Stanley puts it, "the Great Monetary Easing Part 2 is in full swing." But wait, there's more: in an Austrian world, where fundamentals don't matter and only how much additional nominal fiat is created is relevant, it is sheer idiocy to assume that the printers will stop here... or anywhere for that matter. They simply can't, now that the marginal utility of every dollars is sub 1.00 relative to GDP creation. This means that by the time the Global Weimar is in full swing, we will see much, much more easing. Sure enough, MS anticipates an unprecedented additional round of easing in the months ahead. So for those waiting to buy gold et al at the same time as DE Shaw's correlation quants do, the time will be long gone. Because slowly everyone is realizing that it is not the Fed that is the marginal creator of fake money. It is everyone.
Behold, the Great Monetary Easing part 2:
http://www.zerohedge.com/news/while-you-were-sleeping-central-banks-flooded-world-liquidity
Jim Sinclair: The Impending Undeclared Default Of 5 Major US Bank
The following interview with Ellis Martin of www.EllisMartinReport.com covers in detail the impending undeclared default of 5 major US banks this week by the International Swaps and Derivatives Association. This even has the potential to cause a second financial crisis that would require significant financial intervention. If you have time to spare, listen to this interview. If you don’t have time to spare, listen to it anyway.
http://profitimes.com/free-articles/jim-sinclair-the-impending-undeclared-default-of-5-major-us-banks/
Sveriges Riksbank
Det framkommer klart och tydligt att den Svenska Riksbanken var mycket drivande gällande att hålla förberedande arbetet kring avregleringen av den svenska kreditmarknaden 1985 från den politiska beslutsprocessen och dagordningen. Lika angelägna och centrala har man sedan även varit relaterat till att verkligen se till att avregleringen till sist blev verklighet och trädde i full kraft.
Lika noterbart var hur fullständigt ointresserade Riksbanken varit med att sedan löpande förse våra folkvalda med relevant information gällande avregleringens omedelbara och lånsiktiga reusultat och konsekvenser.
Det är anmärkningsvärt vilken enorm politisk kraft det visat sig att Svenska Riksbanken har och hur man från bankens sida i realiteten varit den som dikterat Sveriges framtida politiska inriktning.
Lika besynnerligt är det när man sedan tar del av hela historien kring Riksbankens Ekonomi pris eller som det helt grundlöst kallas i dagligt tal Nobels Ekonomi pris.
Nobelpristagare i Ekonomi 2003 var Robert Engle och Clive W. J. Granger som räknade ut matematiska tabeller som användes för att kalkylera riskantaganden för finans marknaden;
" Engle developed the mathematical models that were used by the financial engineers to develop the CDOs and related instruments that created the credit bubble".
Modellerna började användas i stor skala av banker och värderings institut med resultatet att man räknade risken och täckningsgrader på ett sätt där dessa helt undervärderades.
Orsaken visade det sig är att man i Nobel pristagarnas modeller antagit en allt för kort tidsserie som dessutom var en exeptionell uppgångsfas. Tar man istället i beaktande verkligheten under längre tidshorisont har man även på finans marknader värderings fluktuationer och detta avspeglar sig då på hur stor risk man bör ange ett visst lån och avsättningar för risk vid packering av finansiella instument.
Så med altför snäva och positiva antaganden, orealistiska tidsserier baserade på exeptionell expansiv period fick banker och bostads institut världen över mandat att basera sina lånekriterier på.
Den akademiska värdens teoretiska modeller gas med detta Nobelpris finans markanden ett veritabelt carte blanche för vettlös utlåning när innebörden av risk eleminerades till ett absolut minimum.
Resultatet ser vi nu där sk "ekonomer" med icke verklighets förankrade matematiska modeller lyckas att skada den reala ekonomin å det grövsta.
Tacka Svenska Riksbanken för det!
Nobelpristagarna behåller äran och pengarna medans hela värdsekonomin drabbas och skattebetalarna världen över förlorar sina jobb och riskerar sin välfärd.
Samtidigt kan man dock notera att om det är någon teoretisk "role model" som Svenska Riksbanken och Finansdepartementet använt sig av i samband med svenska finans avregleringen så är de ekonomiska teorier som 1976 års Nobel Pristagare Milton Fridman utvecklat mycket överensstämmande. Det är även så att om ndet nu skulle varit så att vissa haft intressen av att förändra samhället i en viss rikting så bör man även här och då främst genom undersökande journalisten Naomi Kleins arbete undersöka syfte och mål gällande Fridmans sk "Chock Teori". Mer om detta hittar ni i avlutande länkar i sista länken nederst i detta inlägg.
Hög tid nu att skrota det falska "Nobel" priset. Skall man nödvändigtvis ha ett ekonomipris som betalas av Riksbanken (svenska skattebetalarnas pengar, inte Nobels) så bör man istället kallde det för just Riskbankspriset och inte alls ha några samband med Nobel festiviteterna.
Men frågan är varför svenska skattebetalera skall betala ett sådant pris? I realiteten gavs med Fridmans Nobelpris 1976 i kombination med Nobelpriset 1985 alla de "verktyg" som behövs för att omforma en värld i enlighet med den finanskris vi nu ser i full färd att sätta land efter land i socialt kaos.
Vi svenska skattebetalare har därmed med våpra skattepengar indirekt orsakat allt detta. Vill vi riskera något liknande igen? Om nej så skall Nobelprioset i Ekonomi ut ur Nobelfestligheterna redan till nästa år.
Sedan bör man även beakta det faktum att Milton Fridman ansåg att det monetära systemet måste reformeras och att det var tvåt grundläggande åtgärder som behövdes för att verkligen kunna åstakomma detta. Dokumentär filmaren Bill Still (som bla gjort "Trollkarel från OZ", samt "The Moneymasters") har beskrivit detta och även en interview med Fridman i sitt material.
Ingen verklig och långsiktigt hållbar reform av det monetära systemet är möjlig om inte:
1.Centralbanker tillåts att agera centralbanker så som det var tänkt genom att i egen regi och utan privata intressen skapa egna pengar. I USA måste FED i om detta inkorporeras i den sk Treasury och I Europa skall det sk Maastricht Criteria clausulen avskaffas.
2. Banker skall icke tillåtas att själva skapa pengar genom kredit utan de skall endast kunna låna ut de pengar de har.
http://www.youtube.com/watch?v=mLGnSIel2mI&feature=related
Brilliant Nobel Prize winners in Economics blame credit bubble on "the news"
http://www.generationaldynamics.com/cgi-bin/D.PL?xct=gd.e080427b
"I samband med Riksbankens 300 årsjubileum 1968 instiftades ett pris. Priset fick namnet Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne, men kallats idag för Nobel priset i ekonomi."
"I Alfred Nobels testamente står det att Nobelpriset skall delas ut varje år i följande ämnen: fysik, kemi, fysiologi, medicin, litteratur och fred. Ekonomi står det ingenting om."
"Priset delas ut på samma gala som dom andra och den innehåller samma prissumma. Enda skillnaden är att det är Riksbanken inte Nobelstiftelsen som betalar ut prissumman."
http://www.riksbanker.se/nobelpriset_i_ekonomi.php
Feldt, Åsbrink and Dennis - “The Committee to Save Sweden”.
http://intheendwerealldebt.blogspot.com/2012/02/feldt-asbrink-and-dennis-committee-to.html
Lika noterbart var hur fullständigt ointresserade Riksbanken varit med att sedan löpande förse våra folkvalda med relevant information gällande avregleringens omedelbara och lånsiktiga reusultat och konsekvenser.
Det är anmärkningsvärt vilken enorm politisk kraft det visat sig att Svenska Riksbanken har och hur man från bankens sida i realiteten varit den som dikterat Sveriges framtida politiska inriktning.
Lika besynnerligt är det när man sedan tar del av hela historien kring Riksbankens Ekonomi pris eller som det helt grundlöst kallas i dagligt tal Nobels Ekonomi pris.
Nobelpristagare i Ekonomi 2003 var Robert Engle och Clive W. J. Granger som räknade ut matematiska tabeller som användes för att kalkylera riskantaganden för finans marknaden;
" Engle developed the mathematical models that were used by the financial engineers to develop the CDOs and related instruments that created the credit bubble".
Modellerna började användas i stor skala av banker och värderings institut med resultatet att man räknade risken och täckningsgrader på ett sätt där dessa helt undervärderades.
Orsaken visade det sig är att man i Nobel pristagarnas modeller antagit en allt för kort tidsserie som dessutom var en exeptionell uppgångsfas. Tar man istället i beaktande verkligheten under längre tidshorisont har man även på finans marknader värderings fluktuationer och detta avspeglar sig då på hur stor risk man bör ange ett visst lån och avsättningar för risk vid packering av finansiella instument.
Så med altför snäva och positiva antaganden, orealistiska tidsserier baserade på exeptionell expansiv period fick banker och bostads institut världen över mandat att basera sina lånekriterier på.
Den akademiska värdens teoretiska modeller gas med detta Nobelpris finans markanden ett veritabelt carte blanche för vettlös utlåning när innebörden av risk eleminerades till ett absolut minimum.
Resultatet ser vi nu där sk "ekonomer" med icke verklighets förankrade matematiska modeller lyckas att skada den reala ekonomin å det grövsta.
Tacka Svenska Riksbanken för det!
Nobelpristagarna behåller äran och pengarna medans hela värdsekonomin drabbas och skattebetalarna världen över förlorar sina jobb och riskerar sin välfärd.
Samtidigt kan man dock notera att om det är någon teoretisk "role model" som Svenska Riksbanken och Finansdepartementet använt sig av i samband med svenska finans avregleringen så är de ekonomiska teorier som 1976 års Nobel Pristagare Milton Fridman utvecklat mycket överensstämmande. Det är även så att om ndet nu skulle varit så att vissa haft intressen av att förändra samhället i en viss rikting så bör man även här och då främst genom undersökande journalisten Naomi Kleins arbete undersöka syfte och mål gällande Fridmans sk "Chock Teori". Mer om detta hittar ni i avlutande länkar i sista länken nederst i detta inlägg.
Hög tid nu att skrota det falska "Nobel" priset. Skall man nödvändigtvis ha ett ekonomipris som betalas av Riksbanken (svenska skattebetalarnas pengar, inte Nobels) så bör man istället kallde det för just Riskbankspriset och inte alls ha några samband med Nobel festiviteterna.
Men frågan är varför svenska skattebetalera skall betala ett sådant pris? I realiteten gavs med Fridmans Nobelpris 1976 i kombination med Nobelpriset 1985 alla de "verktyg" som behövs för att omforma en värld i enlighet med den finanskris vi nu ser i full färd att sätta land efter land i socialt kaos.
Vi svenska skattebetalare har därmed med våpra skattepengar indirekt orsakat allt detta. Vill vi riskera något liknande igen? Om nej så skall Nobelprioset i Ekonomi ut ur Nobelfestligheterna redan till nästa år.
Sedan bör man även beakta det faktum att Milton Fridman ansåg att det monetära systemet måste reformeras och att det var tvåt grundläggande åtgärder som behövdes för att verkligen kunna åstakomma detta. Dokumentär filmaren Bill Still (som bla gjort "Trollkarel från OZ", samt "The Moneymasters") har beskrivit detta och även en interview med Fridman i sitt material.
Ingen verklig och långsiktigt hållbar reform av det monetära systemet är möjlig om inte:
1.Centralbanker tillåts att agera centralbanker så som det var tänkt genom att i egen regi och utan privata intressen skapa egna pengar. I USA måste FED i om detta inkorporeras i den sk Treasury och I Europa skall det sk Maastricht Criteria clausulen avskaffas.
2. Banker skall icke tillåtas att själva skapa pengar genom kredit utan de skall endast kunna låna ut de pengar de har.
http://www.youtube.com/watch?v=mLGnSIel2mI&feature=related
Brilliant Nobel Prize winners in Economics blame credit bubble on "the news"
http://www.generationaldynamics.com/cgi-bin/D.PL?xct=gd.e080427b
"I samband med Riksbankens 300 årsjubileum 1968 instiftades ett pris. Priset fick namnet Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne, men kallats idag för Nobel priset i ekonomi."
"I Alfred Nobels testamente står det att Nobelpriset skall delas ut varje år i följande ämnen: fysik, kemi, fysiologi, medicin, litteratur och fred. Ekonomi står det ingenting om."
"Priset delas ut på samma gala som dom andra och den innehåller samma prissumma. Enda skillnaden är att det är Riksbanken inte Nobelstiftelsen som betalar ut prissumman."
http://www.riksbanker.se/nobelpriset_i_ekonomi.php
Feldt, Åsbrink and Dennis - “The Committee to Save Sweden”.
http://intheendwerealldebt.blogspot.com/2012/02/feldt-asbrink-and-dennis-committee-to.html
onsdag 15 februari 2012
Russia Dumps Treasurys For 14 Consecutive Months; China Slashes Holdings To Lowest In Over A Year
Today's disappointing TIC report confirmed what Zero Hedge reported back in January, namely the record dumping of Treasurys by foreign entities as tracked by the Fed's custodial account. And while we will spare you the details of the report (found here), two things bear pointing out: the very demonstrative selling of US paper by Russia continues, and is now in its 14th consecutive month (as has been reported here consistently), as total USTs in Putin's possession declined to a fresh multi-year low of $88.4 billion, half of the $176 billion in October 2010. Also confirming that the Asian anti-USD axis is now one which consists of at least Russia and China (and certainly Iran), was the stepwise dump of US paper by Beijing which sold $32 billion in US bonds in December, bringing its total to a new post 2010 low of $1100.7 billion. And lastly, this was not isolated to just these two: in December the grand total of US Treasury holding by foreigners declined from $4.75 trillion to $4.732 trillion. The question then is: just what are China and Russia buying (ahem stockpiling) with all the dollars that are not recycled back into Treasurys?em>
http://www.zerohedge.com/news/russia-dumps-treasurys-14-consecutive-months-china-slashes-holdings-lowest-over-year
http://www.zerohedge.com/news/russia-dumps-treasurys-14-consecutive-months-china-slashes-holdings-lowest-over-year
fredag 3 februari 2012
The Real Economic Picture - Paul Craig Roberts
These graphs courtesy of John Williams make it completely clear that there is no economic recovery. In place of recovery, we have hype from politicians, Wall Street, and the presstitute media. The “recovery” is no more real than Iraqi “weapons of mass destruction” or Iranian “nukes” or the Obama regime’s phony story of assassinating last year an undefended Osama bin Laden, allegedly the mastermind of Islamic terrorism, left by al Qaeda to the mercy of a US Seal team, a man who was widely reported to have died from renal failure in December 2001, a man who denied any responsibility for 9/11.
A government and media that will deceive you about simple things such as inflation, unemployment, and GDP growth, will lie to you about everything.
http://www.paulcraigroberts.org/2012/02/02/the-real-economic-picture/
Paul Craig Roberts: "The US is driving the world to a nuclear war"
http://www.youtube.com/watch?feature=player_embedded&v=QK2ji72eyIo
A government and media that will deceive you about simple things such as inflation, unemployment, and GDP growth, will lie to you about everything.
http://www.paulcraigroberts.org/2012/02/02/the-real-economic-picture/
Paul Craig Roberts: "The US is driving the world to a nuclear war"
http://www.youtube.com/watch?feature=player_embedded&v=QK2ji72eyIo
söndag 29 januari 2012
1/3rd of all market cap now on central bank’s balance sheets
Living in a QE World
All Central Bank Balance Sheets Are Exploding Higher, Or Engaged In QEThe degree to which central banks around the world are printing money is unprecedented.The first eight charts below show the balance sheets of the largest central banks in the world. They are the European Central Bank (ECB), the Federal Reserve (Fed), the Bank of Japan (BoJ), the Bank of England (BoE), the Bundesbank (Germany), the Banque de France, the People’s Bank of China (PBoC) and the Swiss National Bank (SNB). Noted on the charts are significant events or growth rates.Shown is the size of each respective balance sheet in its local currency. Note that all are exploding higher as every chart goes from the lower left to the upper right. Most are still making new all-time highs. If the basic definition of quantitative easing (QE) is a significant increase in a central bank’s balance sheet via increasing banking reserves, then all eight of these central banks are engaged in QE.
When shown in dollar terms below, the Bundesbank is the largest of the “second four” central banks. Further, its growth rate over the last five years has been among the highest. This is surprising since the Bundesbank is considered the “hard money” central bank.
fredag 20 januari 2012
John Williams: No Way Out–Hyperinflation by 2014
Jim welcomes back John Williams from Shadow Government Statistics. John sees no way to avoid hyperinflation, as some of the warning signs are getting worse: rising real inflation rates, massive Fed monetization, foreign nations dumping dollars, and the US losing its triple A credit rating.
http://www.financialsense.com/financial-sense-newshour/guest-expert/2012/01/20/john-williams/no-way-out-hyperinflation-by-2014
http://www.financialsense.com/financial-sense-newshour/guest-expert/2012/01/20/john-williams/no-way-out-hyperinflation-by-2014
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