Good news: America about to go bust

The sooner the current iteration of America collapses, the sooner we can rebuild something sustainable and worthwhile – learning the lessons of the past – making some tweaks to the Constitution and imposing broad electoral reform. Also, let’s make Lawrence Lessig president.

58 comments on “Good news: America about to go bust
  1. Enrico RusticaLI says:

    How could your average criminal organization resist. The world reserve currency and the world’s most powerful army… ever. All under the tutelage of a system based on the rule of law and good faith. Totally corruptible and infiltrated. The sooner this iteration of “democracy” is retired the less damage will be done to legitimate economies around the world. Obama Sarkozy and Cameron. The three musketeers.

  2. George Sign says:

    ‘Solar flare threatens to disrupt Earth’s communications and power”.
    Don’t see any comment about this from the “It’s all Man’s fault this Global Warming” guru.

  3. Youri Carma says:

    http://www.reuters.com/article/2011/06/08/us-worldbank-outlook-asia-idUSTRE7570GD20110608Asia’s inflation to stay hot as economy cools: World Bank

    Growth in most of Asia will cool this year because of tighter credit conditions and a slowdown in advanced economies, although inflation may take longer to subside, the World Bank said in a report on the global economy on Wednesday.

    For East Asia excluding Japan, 2011 growth will probably slow to 8.5% from 9.6% last year. The 2012 forecast showed a further slowdown to 8.1%.

    Excluding China, the region will likely grow by 5.3% this year and 5.6% next year.

    In South Asia, growth is expected to slow to 7.5% this year from 9.3% in 2010. For 2012, the forecast shows a modest pick-up to 7.7%.

    “This slowdown partly reflects macroeconomic policy tightening aimed at curbing stubbornly high price pressures and reducing large fiscal deficits,” the World Bank said.

  4. restoresoundmoney says:

    WTF, Max? Support a guy for president who initially supported that sack of crap, Obama? And this guy, we’re supposed to believe with all his fancy degrees, has a brain in his head? And oh, the irony of Lessig’s fancy professorship in ethics at Harvard while supporting a fraud like Obama. Oh, it’s all too rich for me, Max. Jesus Christ, Max, why don’t you believe in liberty? Don’t you understand that power inherent in governments attracts the worst among us and brings out the worst in even the best of us? Jesus, Max, what more proof do you need?

  5. OldEnglishGame says:

    Happy happy happy
    This is music

  6. MirrorMirror says:

    @restoresoundmoney | .. yeah , judging from the overblown titles that Max comes up with … I think he now posts anything that he thinks might give him more web hits. Shame really. He’s doing himself an injustice IMO.

  7. OldEnglishGame says:

    As an avid cock fighter myself, I love this.
    I don’t use spurs, I use gloves, it makes the fight last longer so you can better predict the winner

  8. Jack Kristeller says:

    This article provides more evidence, as if more were needed, that JPM will eventually hang themselves up the stock-pledged collateral which acts as ‘margin’ fro their 3.3 billion oz. naked silver short illegally inherited (yes, illegally, in my opinion – but what does the law mean to these people?) from Bear Stearns in 2008. When the JPM stock price is lower than the price of silver, the stock-pledge will no longer give adequate cover for the huge sales of non-existent silver over which JPM presides. And just look what is happening to the last remaining unencumbered silver stocks in COMEX warehouses. Either it is being physically removed from those warehouses by its owners or the owners seek the (dubious) protection of ‘eligible’ status – i.e. not ‘earmarked’ as available for sale by bullion banks.

    The downward spiral in bank stocks, JPM among them, will have repercussions on the price of silver as physical supplies dwindle leading to the prospect of one or more exchanges default and, possibly, declaring a ‘force majeure’ shut-down of that exchange which will put silver into ORBIT or, as that event is anticipated, many, many long-term naked silver shorts will be covered, sending silver higher and higher.

    Hi Max,
    http://online.wsj.com/community/groups/stock-market—useful-info-1021/topics/financial-stocks-death-spiral-nysegs

    I wonder if this has anything to do with silver being ‘knocked back’ from $39.50 to (under) $35.00 in one day’s trading on 11 May 2011. ( Please note: 11/5+2+1+1=9 i.e. 11/9 – sound familiar?). I suspect that JPM’s ‘comfort zone’ between the JPM share price and silver is around $8.00. I see no other justifiable reason for this unprecedented sell-off. It begs the question: how was it, when silver surpassed the JPM share price by over $4.00 at the end of April, that it did not trigger an immediate collapse in the JPM stock? If, as you have suggested, their silver short position of over 3 billion ounces is collateralized against their common stock, their collateral must have been inadequate for at least two days!

    Simple calculation:

    3.3 billion x $48 = $158.4 billion. Today, JPM is capitalized at $175.76 billion. This means that they must have pledged nearly all of the common stock regardless of who owns it, which is itself a sort of naked short position – on their own stock!!

    Of course, it depends on how the collateral contract is framed as to how and when JPM becomes unable to comply with its terms and, therefore,insolvent.

  9. OldEnglishGame says:

    Mirror Mirror
    It’s innocent enough. We all like to get excited and bark like happy dogs, just jump in and start screaming,

    Until they start bashing anarchists, then show no mercy.

  10. Sirial says:

    I will believe it when I see it, I am afraid the powers that be will find endless ways to kick the can down the road.

  11. MirrorMirror says:

    Feri senkt Bonitäts-Rating der USA

    [ German Ratings Agency FERI cuts US Credit Rating ]

    http://www.cash.ch/news/alle/feri_senkt_bonitaetsrating_der_usa-1043704-448

    @Max …. now wouldn’t that be a better title instead of all the BS ?

  12. MirrorMirror says:

    @OldEnglishGame … I wouldn’t mind if he also gave us some Comics to read and an Age Warning , like “Under 12″
    ;-)

  13. daddy warbucks says:

    That’s what USA gets for embrassing European’ intellectual’ ideas. Europe has been destroyed and impoverished time after time but keeps reverting back to progressive ideals. so here you go again, this time no USA to save you, you are all fucked.

    Where ‘free market’ capitalism supported by the US Constitution (supported by well informed patriots) finally surfaces -that is where I’ll be.

    It ‘was’ happening in america at one time, before progressive liberalism populated the universities and judicial system.

    Progressive liberalism feeds on order and prosperity unit there is none.

  14. daddy warbucks says:

    Sorry; ‘embracing’ and ‘America’

  15. Mike/Liverpool says:

    Moodys threaten UK downgrade:-
    http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=4282824
    FUCKING DO IT BASTARDS!!!!!!

  16. daddy warbucks says:

    Has a nice ring to it, maybe ‘embracing America’ as their founding fathers intended?

    “a Republic, can you keep it?” Ben Franklin

  17. jimmy chen says:

    j. ventura for president. Give me the warrior scholar with the huge heart any day

  18. OldEnglishGame says:

    I am getting younger
    My hair came back and life is great,

  19. OldEnglishGame says:

    Woof woof

  20. Danny Cunnington says:

    @Mother Earth, I give you €630 and pay the verzenden cost. I can transfer with IDEAL inside Holland address and Bank account. I don’t know how to do E-bay because I never used it.

  21. Mother Earth says:

    In case of a default I predict a Pentagon Coup

  22. Youri Carma says:

    On June 2, 2011 Youri Carma wrote: Best would be if Greece, Portugal Ireland with the support of some other sane EU countries (which I can’t think of at the moment) would say enough is enough and decide to wipe out the bogus derivative deads and let the banksters eat cake for a change.

    Webster G. Tarpley on World Crises Radio June 4, 2011: Why don’t you create a debtors club since they call it ‘Club Med’. Allright fine the Europe ‘Club Med’. Let’s have a debtors club. A club of the outsiders. The Greeks, the Portgues, the Spain, the Irish. Maybe the Italians can join. There maybe some Easterners? The Baltics might wonna join.

    A Debtors Club because of couse the creditors are organized in the Club of London and the Club of Paris. You need a debtors club to say: “You’re organized, quess what? We’re organized too. You have a syndicate, we have a syndicate. You have a kartel, we have a kartel and our policy is: We can’t pay! So, cut those debts and whipe out all the derivatives.” That’s gotto be the key demand.

  23. F. Beard says:

    Good! The US Government should NEVER borrow money in the first place.

  24. Tom H says:

    Haven’t we had enough of these Ivy League douche bags fucking our country up? Give me a President who is not in “the club”. Silver is getting killed. At what point are we all buying?

  25. Tom H says:

    Good day Beardo. Buying the dip?

  26. OldEnglishGame says:

    Mother earth
    The pentagon could Re-Finance under any bank. They won’t fly the coop

  27. Bruce says:

    The Bernank for president.
    He is closer to the real one, isn’t he?

  28. Youri Carma says:

    @Bonn

    No, what is it? Some esoteric off spring? Could be interesting but don’t have time for that now I think.

  29. F. Beard says:

    Good day Beardo. Tom H

    Good morning to you.

    Buying the dip? Tom H

    Never! PMs are not the solution to the money problem.

  30. OldEnglishGame says:

    Tom
    When you go to work, who’s orders do you follow
    Your bosses orders
    When the president goes to work whose orders does he follow
    His bosses orders
    You will never get a president that represents the voters.
    The president is a lobby ist for the banks.
    Abraham Lincoln was a lobby ist for the railroads
    Obama is a lobby ist for the banks
    Get used to it.
    Under democracy you will never have representation,
    It will never happen.

  31. Youri Carma says:

    @Bonn

    OK, I see. Have you heard the newest webbot? Webbot Clif High on TIME MONK RADIO 6/4/2011

  32. MirrorMirror says:

    @Max … need another headline ?

    Republicans Are Pushing For A “Brief” Default As China Warns US Is “Playing With Fire”

    … China announced that the United States is “playing with fire” if it opts to briefly default on its debt, which could undermine the dollar, …

    … but he believed China may hang on to its investment in U.S. Treasuries in any case. …

    http://www.zerohedge.com/article/republicans-are-pushing-brief-default-china-warns-us-playing-fire

    I wonder if he’ll be the next Finance Minister to get the chop … literally !

  33. Tom H says:

    @beardo, just busting you in case you did not figure that out. I actually agree with a lot of what you say, but it requires a perfect world scenario that will never happen. Hoping my silver does not rust.

  34. Tom H says:

    @Old English, who was Andrew Jackson beholden to?

  35. JohnS says:

    Default?

    Will be interesting to see how China reacts. Will also be interesting to see what becomes of U.S. treasury and government bond yields; and as they move upward, what becomes of stock indexes and PMs.

    Okay. Let’s roll with it.

  36. t-rex and the slick pig says:

    hey F beard, i totally agree with that the US government should NEVER borrow money, why should they, when they can print it…..

  37. F. Beard says:

    but it requires a perfect world scenario that will never happen. Tom H

    I reckon the US will have to adopt genuine capitalism to remain competitive now that the rest of the world has adopted our banker fascism.

  38. Zorro / London says:

    @ Mirror Miror

    I thought official debt ceiling is 14.3 Trillion.

    Are we not at 14.7?

    Is not USA legally and technically NOW in default?

    Clearly either Wall Street completely out of touch with reality, or last minute stealing the silver cuttlery from the dining room as the Titanic sinks.

    Either way PMs prices should be at LEAST double to what we are seeing.

    The “brink” is so painfully close.

    Cant wait to see what imaginative creation the next false flag is going to be.

    I wonder if Spielberg commissioned to write the scipt?………………Z

  39. Rusty says:

    Roll Lady Guillotine up to Capitol Hill and let’s get this party started.

  40. Rusty says:

    … and then on to Wall Street!

  41. MirrorMirror says:

    Interesting Vote in “Der Spiegel”

    Who should rescue the Euro – if at all

    More than 37,000 votes

    http://www.spiegel.de/politik/deutschland/0,1518,767145,00.html

    ca. 12%
    Rich countries such as Germany must help defeat candidates, even if it costs a lot of money. Finally, we now benefit from the single currency.

    ca. 3%
    The European Central Bank to buy up massive government bonds – the drives, inflation, cost taxpayers anything but first.

    ca. 31%
    The candidate must be a part of their bankruptcy debts are adopted. The bulk of the then financial markets.

    ca. 29%
    The rich nations should form a core euro-zone and throw out the poor countries of the monetary union.

    ca. 25%
    Why should we save the €? We should return to the D-Mark.

  42. gman says:

    James Turk, Bill Murphy & Peter Boehringer answer questions in Munich’s Hofbräuhaus
    http://www.goldmoney.com/video/qa-munich-conference.html
    —————————————————————————————————————–

  43. HUH? says:

    “…tweaks to the Constitution and imposing broad electoral reform.”

    As long as you’re discussing removing the 16th & 17th amendment (17th re: “electoral reform”), I couldn’t agree more.

  44. frances snoot says:

    I get it . I get it. The marraige was in 2–4, and now there are little wee-bitty eggies in the nesssst~!

    http://www.nesst.org/advisory.asp

  45. frances snoot says:

    Wakey-wakey!
    Now, come on. Eyes closed, hands together.
    Blessed be, at light of day, Jesus, to whom now I pray.
    Blessed be the Virgin pure Whom I greet with faith so sure.
    Jesus, Mary, Spotless Rose, Keep us till this day doth close.
    They’re still half-asleep.
    What sweet little children!
    Well? What do you say?
    How do you do?
    How do you do? (the others/wakeywakey)”

    http://en.wikipedia.org/wiki/Kissinger_Associates

  46. Tao Jonesing says:

    Lawrence Lessig is a neoliberal or, at best, a neoliberal dupe. He’s a Washington Consensus kind of guy who runs with Arianna Huffington. Don’t let his anti-copyright stance fool you.

  47. frances snoot says:

    Really. They should have put AJ in a can. He’d have a longer shelf-life that-a-way.

  48. John Galt says:

    Silver is getting slapped around yet again today.
    I suppose the proper thing to say is BTFD ! BTFD ! BTFD !

    In all honesty I am fed up with this economic Sword of Damacles hanging over my head day in/day out, week after week, month after month, possibly for decades to come.

    Months ago it was said that when the price of silver matched JPM’s share price that JPM would blow up. What happened instead was the price of silver blew up.

    Now I’m supposed to get animated about the US going bust? The US is, for all intents and purposes, already bust – yet it continues on with business as usual.

    I’m sure that one day, a week/month/year/decade from now the $US will finally tire itself out. It could well happen all of a sudden, due to some shattering of confidence.
    When that happens I’m sure TPTB already have a whole series of new fiat currencies lined up to replace the $US, be it SDRs or Ameros or whatever else you want to call it, and this stupid game will comtinue to infinity.

    Are things really that different today from the time of the Roman Empire? We have television for distraction, while they had the Coliseum. We have paper and digital currency, while they had coinage that was debased out of real gold and silver over time. But after the Roman collapse, didn’t silver disappear as a currency for a long time?

    For many reasons I’m beginning to wonder if all this investing in physical metals is turning out to be a fool’s game.

    Yet, every logical fiber of my body says that physical gold and silver is the right place to be. HOWEVER, logic and common sense no longer has a place in the world. Markets no longer exist, and any rational sense of what “should” happen appears to be completely irrelevant.

    The only thing that keeps me buying physical is the realization that if physical is a clusterfuck then it’s only slightly less of a clusterfuck than anything else in the world.

  49. frances snoot says:

    @Galt
    So, let’s say that crude oil is not traded as a commodity in future. (let’s face it, with the dollar/euro volatility this outcome is an inevitability) And let’s say that the system termed liquidity no longer regards gold as fungible for domestic trade. Would faith in money become analogous to this lost meaning?

    http://en.wikipedia.org/wiki/File:Totem_Park_pole_1.jpg

    Is money heraldic in nature? If so, to whom?

  50. ZORRO LONDON says:

    @ John Galt

    Agree with much you say. The only rule is that there appears to be no rule book anymore.

    How long this fantasy nonsense can go on for, no one of course knows.

    Here are some certainties though. Food stamp growth will continue to grow in the US. and History teaches us that hunger is the fuel for true revolution, NOT still well fed students with placards in the west, sitting in squares.

    When the food stamp barometer goes into the red you will see true revolution and ensuing anger and chaos, and ONLY THEN the possibility of true change.

    Meanwhile theres a great deal of money still there to be made by the west selling weapons to kill and opress the poor around the world, and steal their wealth and assets.

    All thats missing is for US & NATO troops to be wearing swastikas, except they are being duped into thinking they are fighting against dictators when they are actually fighting FOR THEM.

    John, all the indicators show a rapid accelleration to somewhere none of us want to be with FIAT and all related so called paper assets, that are effectively …. dead men walking .

    Tangible assets such as PMs are definately the place to be, in this fantasy land of manipulated and counterfeited data, even though their true worth may be still somewhere in the distance.

    I sense that day is far sooner than any of us can appreciate. …………………Z

  51. John Galt says:

    @ Zorro

    Much of what you say is akin to the saying that “the markets can remain irrational for far longer that you can stay solvent.”

    At some point I have to wonder about interest rates rising (which seems inevitable in the event of inflationary pressures), and once that happens a couple upticks in interest rates could likely implode equities markets as well as PMs.

    When you think about it this would be the ultimate strategy to herd the masses into the fiat currency casino, just before they bolt the doors and burn it to the ground with as many people possible inside. Prior to this (and after another stock market implosion) it is likely that laws will dictate that private pensions be transferred into the “safety” of paper assets such as Treasuries.

    In this scenario it “seems” obvious that physical PMs would be the place to be. However, in today’s world logic and common sense are extinct species.

    You sense that the day is far sooner than any of us can appreciate. That may be true.

    Many times I have thought the same thing, and been wrong. It could well be that it goes down on Tuesday June 14th, 2011 or a decade from now.

    There’s only one thing I am absolutely certain of….at the moment it happens it will come out of nowhere, and virtually no one will see it coming…aside from few amongst TPTB who have this sequence of events already planned in advance. And at the moment it happens it will be too late to make contingency plans etc., because we will already be in SHTF world.

  52. frances snoot says:

    ahem.

    “Yet neither Frazer nor Hitler were far from the truth, which was that the early Gentile Christians borrowed from the Hebrew prophets the two religious concepts, hitherto unknown in the West, which have become the prime causes of our unrest: that of a patriarchal God, who refuses to have any truck with Goddesses and claims to be self-sufficient and all-wise; and that of a theocratic society, disdainful of the pomps and glories of the world, in which everyone who rightly performs his civic duties is a ‘son of God’ and entitled to salvation, whatever his rank or fortune, by virtue of direct communication with the Father.” (Robert Graves, The White Goddess: Chapter 26)

    Although truth here is relative to Grave’s position, the ideal presented by the passage is the exact personification of Zeus and Juno enthroned by man’s approbation of his own rectitude within the world termed natural. It is this action which precipitates man’s demise. There can be no remedy. Man himself does not own the instrument of his dismissal.

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