I guess the ocean they are floating in is the “Sea of Debt Money”.
BTW … Burnsville, Minnesota :
The Burnsville man who ended up in jail because he didn’t finish installing siding on his home is capturing national attention.
http://blogs.telegraph.co.uk/news/jamesdelingpole/100146037/why-money-printing-is-like-global-warming/ One for Stacy
I hope it doesn’t rain.
Media news, US cable and 3D movies not doing so well…
News from Canada :
Debt load getting heavier in Canada
…a new report from Statistics Canada shows just how much debt we already had when the cheap money taps were opened.
StatsCan released a major report Friday that outlines the overall debt situation of Canadians as of 2009. It only measured what is owed by Canadians who carry any form of debt, not those that are debt free.
According to the report, the typical borrower owes on average of $114,400. However, that number that is almost certainly higher today due to persistently low interest rates, and more worrisome could be that two-thirds of all Canadians who carry debt owe more than the average.
The Bank of Canada has kept its key lending rate at one per cent since early 2008, the longest period of unchanged rates since the 1950s. [...]
Northern B.C. sees near-record snowpack levels
Tsunami-linked fishing boat adrift off B.C.
THE MOST HELPFUL SUGGESTION …
I understand that there is a coastal ghost town on the coast of Haida Gwaii which has a dock big enough for this vessel. Perhaps they could tow it there until they figure out what to do with it.
It’s total American Imperialism, but …
Lingerie football league tryouts take place in Richmond
govt. to bankers: “We’ll sell bonds to you, so we can bail you out with loans.”
bankers to govt.: “We’ll borrow money from you, so we can buy your bonds.”
THIS is the BAIT & SWITCH of Neo-Con, Leo Straussian, Ayn Randian, Greenspan/Bernanke banking, ONLY made possible by DECEIVING – LYING TO – the American public. But it gets worse!
#1. Central Bankers (the Fed, ECB, BoE) “make profits” from every dollar they create out of thin air because they RENT (“lend”) this “money” back to the host government… taking fees and cuts ever step of the way.
#2. Empowered by this Fiat Money power, banks create SPECULATIVE BUBBLES – remember, THE MORE MONEY THEY “create,” THE MORE MONEY (“profits”) the make.” There is NO DOWNSIDE, besides public outrage, to the banks whipping up more money, and in the Great Depression they got away with wrecking the entire US & world economies!
#3. At the height of a credit bubble, central bankers can RESTRICT the supply of credit – call in loans, REDUCE the “money supply” – creating PANIC in the large (macro) economy – there simply is not enough “money” in circulation, for every borrower (business, farmer) to take in enough in money circulation (profits) to pay back his or her loans.
#4. If you KNOW IN ADVANCE which way this credit EXPANSON/CONTRACTION is going, you can position yourself (with long or short trades) to profit from it.
#5. The above “FREE MONEY FOR BANKERS” tactics GOES ON STEROIDS when it comes to CURRENCY ATTACKS: central bankers (and ZIRP bankers – speculators with access to very low interest, near “free” money) can trade their FRESHLY PRINTED dollars – before they hit general circulation and devalue/deflate everyone else’s dollars – to some other nation’s currency, buying quietly but steadily for several weeks. At choosen moment, those “INSIDERS” ALL “DUMP” that foreign nation’s currency on the world markets – they can “CRASH” a foreign currency (bond, or stock) even if it has not been inflated by that country!
RINSE, REPEAT – if insiders know in advance which way these CURRENCY ATTACKS are going, you can, Soros style, squeeze out BILLIONS in wealth from the target currency.
Max alludes to this power, but only indirectly, when he explains that, for every new tranche of “bailouts” Greece or Ireland receives from money-printing Central Banksters, the CB empowered SPECULATORS whip up three or FOUR TIMES AS MUCH in Credit Default Swaps AGAINST that currency – yet another tactic of “free money” for banksters!
The DECEIT that cloaks the above “commissar extortion powers for bankers” is ROOTED IN RACISM: convince the public (majority race) that “minorities are RIPPING OFF SOCIAL WELFARE giveaways”, and IMPLY that “business & financial ‘leaders’ are gods of ‘Free Market’ expertise.”
It’s bad enough in America, but in Iceland, Ireland, and Greece – 3 relatively homogenous (race) nations, ONLY ICELAND figured the above out, that the Bankers are being PAID, by FOREIGN Central Banker powers-that-be, to DEMOLISH target economies, through the above “free money for bankers & speculators” grab-bag of fiat money credit extortion, inflationary tax rates, pump-&-dump schemes, etc.
This video on the ESF explains many of the SUPER pump-&-DUMP slush fund tactics of the US _government_ Exchange Stabilization Fund, but the author incorrectly assumes there is some firewall between The Fed, the Treasury, and the Big Banks – in actuallity, the Big Banks ARE The Fed, and the Big Bankers OWN the government (Treasury)….
Until the American public wakes up to “The Great Depression was TYPICAL C.B. style PUMP & DUMP national economic SABOTAGE”…. and that THIS Fed 10%/year money growth (ALL “monies” going to INSIDER BANKERS/speculators and NO ONE ELSE) is a verbatim repeat (some tactics change slightly… indeed, the Banksters have CAPTURED and turned into crooked SLUSH FUNDS, ALL the government agencies and funds, like FDIC, previously created to ameliorate the banker’s currency/stock/bond ATTACK SABOTAGE powers – making their attacks /larceny that much WORSE, that much MORE DEBT for taxpayers to pay back! this time around) the racist, hate-mongering, nation-gutting bankers will CONTINUE to SABOTAGE the economy…
Thanks for your clear explanation.