We discuss the hell (of a profit) to be made by killing a man – and his family – as Lockheed Martin assures analysts from Deutsche Bank there is enough fear of war to maintain its deadly sales. In the second half, Max interviews Swiss banker, Egon von Greyerz about QE, gold and the economic and financial disasters wrought by central banks.
So by all means, buy the dip now that the VIX soared in full-blown panic from 12 to 17.
One of the more remarkable features of the Bull market in stocks is the ascendancy of complacency and the banishing of fear. Take a look at this chart of the “fear index,” the VIX–more properly, a measure of volatility:
When the phantom wealth evaporates and risk assets go bidless, cash will once again be king, for the simple reason there will be so little of it.
Occasionally it’s a good idea to step away from the daily grind to consider the larger issues we all face–for example, the future of the money we earn and the bits we invest in something we hope holds or increases its value.
At present, cash is trash: cash earns almost no yield, and in some countries it now earns a negative interest rate, meaning it costs you to park your cash in a bank.
Even cash equivalents such as one-year Treasury bonds pay almost nothing.
“In a potential future ‘cashless society’, I want Bitcoin to exist. I want something that feels roughly like electronic cash, something that can exist as a marginal counterpower outside the walled gardens of mainstream payments… And like coins, I expect Bitcoin will never become a dominant payment system. I expect it will, at most, account for 1 per cent of transactions. But that is fine. 1 per cent privacy is going to be a lifeline in any future world of 99 per cent bank surveillance.”
Many people will read this post, and posts like it, and shrug their shoulders saying that there’s always going to be corruption. True; however, there are degrees of corruption. When empires such as the U.S. attain a certain level of corruption that reaches the point in which it becomes engrained within the fabric of society, and you couple that with zero accountability for the super rich and powerful, you have the ingredients for societal collapse. We are rapidly approaching this point, and I personally don’t think there’s any way to stop it.
With all that in mind, I want to introduce readers to the Overseas Contingency Operations (OCO) account, or what is being referred to as the “war slush fund.” You know something’s bad when even Crazy John McCain calls it a “gimmick.”