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EU Commission-CETA Ratified by July 5th

Junker and EU commission are set to exclude National Parliaments from any say in the ratification of  CETA, which is basically TTIP by the back door. US companies can register in Canada and these horrible legal entities which favor corporations over democratic parliaments come into existence. Junker wants it done and dusted by July 5th.

‘Yesterday, however, Mr Juncker gave his long-awaited opinion, stated that the EU would NOT include national parliaments in the ratification process, claiming that this all-encompassing deal (it goes far beyond mere trade, would have serious implications for lawmakers both national and European to legislate purely in the interests of its own citizens, but would instead would give big business major influence in a range of areas) is an area of exclusive competence for his Commission.’ Luke Ming Flanagan Twitter

‘Commission President Jean-Claude Juncker reportedly told EU leaders on Tuesday (28 June) that the Commission considers the Comprehensive Economic and Trade Agreement (CETA) being an “EU-only” agreement and would propose next week (5 July) a simple approval procedure.’ …… Defending the executive, Juncker said that he repeated at the EU summit what he had clearly said at the G7 “where no European leaders contradicted me.”euractiv.com

‘EU-Canada deal CETA (Comprehensive Trade and Economic Agreement) is one of a series of secretly negotiated ‘new generation’ trade deals which undermine democracy and destroy basic rights. This briefing from War on Want explains how CETA’s ‘corporate court’ ISDS mechanism will enable North American corporations to sue EU governments for policy decisions affecting big business profits, lead to the locked-in privatisation of public services, and give big business the power to destroy new regulations before they see the light of day.’ waronwant.org

Below find info on CETA and another article on this topic.

Here’s what Irish MEP Luke ‘Ming’ Flanagan said after the Plenary  session  –

TIME FOR JUNCKEXIT !

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Silver Price Surges to $18.50 – Move to $20/oz Next?

silver pricesSilver has surged to nearly $18.50 this morning placing new post-BREXIT highs as the market seems to be suddenly pricing in massive new stimulus by The Fed, ECB, and BOE…

Click Here For Full Silver Market Update:

The Elites Have Lost the Right to Rule – Part 2

While the Trump and Brexit movements are indisputably fascinating merely as public indictments against the greedy and criminal status quo, they are equally meaningful from another perspective.

The reaction from many in the media to both Trump and Brexit have betrayed their ulterior motives by exposing dangerous, antidemocratic biases. Now this has nothing to do with whether or not you are in favor of either Trump or Brexit. Personally, I think Trump is a very unwelcome reaction to the destructive trends going on around us. He’s extraordinary divisive (even amongst people who hate the establishment), has no regard for civil liberties, and displays obvious authoritarian tendencies. Despite this point of view, I don’t focus obsessively on all the negative aspects of Trump in my posts, because I acknowledge that Trump is a symptom of a much larger problem, not the root cause of it. Dealing with symptoms can keep things settled for a time, but the problem will invariably return in far worse form should the underlying causes remain unresolved. People are acting as if it can’t possibly get worse than Trump. Believe me, it can get a lot worse.

Read the rest here.

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Brexit, a Step in the Right Direction: The Optimistic View

In the conventional narrative, Brexit is about immigration, escaping the EU’s bureaucrats of Brussels, class war or political theater. It may be about all of these, but beneath these surface issues lies a deeper dynamic: a recognition that the entire system is broken and a new arrangement of power, responsibility and risk is required.

In this view, Brexit is a positive step in the right direction, away from centralization and central planning and towards decentralized arrangements that enable more dynamic, localized solutions.

Longtime readers know that I focus on scarcity as the source of value creation: what’s scarce generates value, profits and high wages, and what’s abundant declines in value due to supply and demand.

Correspondent Ron G. views Brexit as a systemic step towards solving existing scarcities. Scarcity is not limited to goods and services; agency and autonomy can be scarce; responsibility that connects risk and return can be scarce; level playing fields can be scarce; rule of law can be scarce; opportunity can be scarce; entrepreneurial drive can be scarce; self-reliance can be scarce; social innovation can be scarce; social capital can be scarce, and the willingness to accept losses and the risks required to change the power structure can be scarce.

Political expediency can be over-abundant, as can protected privilege.

Ron submitted this photo and commentary on Brexit and scarcity:

Here are Ron’s comments:

“Mankind’s fundamental quest is to survive and prosper by solving scarcity.

BREXIT is simply a modern example of an old pattern of behavior that seeks to resolve scarcity, (the shrinking pie of economic opportunity and ownership), through reconfiguration of relationships to reallocate resources to enable more equitable equilibrium in supply and demand.

As a prelude to BREXIT, housing in Britain, in particular, had become out of reach for those that have labored under the assumption that hard work, education, and a good job would lead to an ability to own a home, which many young Britons now find economically out of their reach; many Britons blame the government’s monetary policy of zero percent interest rates for inflation and unaffordable housing

In another sign of frustration, a few years ago a graffiti sign expressed a sentiment of the youth in Britain, one of them posted at Bell Lane near Liverpool St. Station, it read: ‘Sorry, the lifestyle you ordered is out of stock.’

The Bank of England has continued policies that have contributed to the exasperation expressed through the referendum, this along with the burdens of having an open country and economy that increased labor supply which in turn increased demand for housing and available credit to driving the asset bubble.

This type of scarcity, being seen in Britain, is very common throughout history and is generally driven by the confluence of interests that connects and drives centralized, unified policies between bankers, merchants (in today’s world global corporations) and governments.

Turning back the clock a bit, I would like to include a couple of quotes by an amazingly brilliant and eloquent commentator in economics, Fredic Bastiat in his writings from 1850:

“I do not dispute their right to invent social combinations, to advertise them, to advocate them, and to try them upon themselves, at their own expense and risk. But I do dispute their right to impose these plans upon us by law – by force – and to compel us to pay for them with our taxes.”

“Self-preservation and self-development are common aspirations among all people. And if everyone enjoyed the unrestricted use of his faculties and the free disposition of the fruits of his labor, social progress would be ceaseless, uninterrupted, and unfailing. But there is also another tendency that is common among people. When they can, they wish to live and prosper at the expense of others.”

While old tools based in centralized control have held the power bases together, and have been useful to the management of empires, they have have become outdated and are an inadequate means of resolving the complexities of bringing equilibrium in supply and demand and the distribution of power.

New forms of social connection for production and consumption have emerged and are replacing centralized models; distributed models, even in formally centralized systems of energy and water, are coming online at a rapid pace.

These systems are fueled by the realization of democratic economy and autonomy, connected through a digital technology template; more distributed and socially self-aligning, this combination of digital conduits and marketplace opportunity fit lock and key into humanity’s biological need for autonomy and dignity of choice.

To those like me who have been compelled to study foundations and dynamics in human systems as a means to understanding better choices, BREXIT is not a surprise but simply an the most recent public demand to bring about a more acceptable outcome.

BREXIT is a symptom of an inadequate system for meeting human needs, driven by many converging factors, factors shared by all modern economies: underlying complexities growing due to connections to a more globalized world, and an inability to resolve scarcities through centralized systems of management and control. This underlying complexity will only continue to grow.

Centralized control by any domain keeper are but a delusion, as I believe there will be no wresting back control from the decentralized solutions that are growing in a scale and complexity beyond their toolsets and bandwidth.

I believe we have entered a critical but wonderful age, the age of reemergence of decentralization and decentralized governance; may we preserve this opportunity for the gift that it is to life, liberty and property.”

Thank you, Ron, for placing Brexit in a more expansive and insightful context.

A Radically Beneficial World: Automation, Technology and Creating Jobs for All is now available as an Audible audio book.

My new book is #14 on Kindle short reads -> politics and social science: Why Our Status Quo Failed and Is Beyond Reform ($3.95 Kindle ebook, $8.95 print edition) For more, please visit the book’s website.

 

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[KR933] Keiser Report: Governments hate Keynesianism

LOL, the title RT gave it will cause knee-jerk reactions, but do please try to watch it before commenting.

We discuss student debt slaves and municipal debt burdens. In the second half, Max interviews bond market expert Cate Long about the latest on the debt situation in Puerto Rico.

Thoughts on Brexit from Someone Who Spends Time in the “Forgotten Places”

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Chris Arnade penned an excellent Brexit post. Amongst other things, he notes:

If you hate racism, then you really really really should hate any economic and social system that creates and rewards massive inequality. Because when you get that. You get racism.

And that is the system we have built and now have. That is the system that most everyone screaming about the dumb racists is part of, usually supports, and wins from.

Read more.

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GLOBAL MARGIN CALL TIME – Jim Sinclair

All tops come on rhino horns.   The moves to safety that took place on Friday are the type of moves that cap, end, and terminate bubbles. 
What’s about to come is exactly what we’ve been warning people about.  Monday morning is GLOBAL MARGIN CALL TIME…

Click Here For Legendary Jim Sinclair’s Warning On Global MARGIN CALLS:

Understanding Brexit: The Powerless Press Their Thumb in the Eye of the Power Elite

The premier strategy for retaining power is to give the powerless a carefully managed illusion of decision-making and autonomy. Having a say over one’s life and choices is called agency, and it is the illusion of agency that makes democracy such a powerful tool of control.

The second most effective means of maintaining power is to limit the choices offered the powerless. Offering the powerless false choices, i.e. the choice between two functionally equivalent options, provides the comforting illusion of agency while insuring that the status quo Power Elites remains in charge, regardless of the choice made by the powerless.

For example, give the powerless a choice between Tweedle-Dum (Republicans/Tories) and Tweedle-Dee (Democrats/Labour). Whomever they elect, the self-serving Power Elite of entrenched interests and wealth remains firmly in charge, for the Power Elite speaks with one voice through two mouths, one Establishment Democrat/Labour, the other Establishment Republican/Tory.

If the powerless get restless, make them fearful. This is easily managed via external threats and dramatic predictions of economic doom should the Power Elite be threatened.

If fear has lost its edge due to over-use, then whip up social controversies that divide and conquer the powerless. Divisive, hot-button social controversies are easily staged and media-managed; these serve to distract and fragment the powerless in endless culture wars.

The powerless get very few opportunities to express their dissatisfaction with their gradual impoverishment and powerlessness, and few opportunities to register their disapproval of the Power Elite. They know complaints go nowhere, petitions are ignored, and demonstrations accomplish nothing.

So when a rare chance to stick a thumb in the eye of the Power Elite comes along, they take it. The Brexit vote was just such an opportunity.

Though the benefits that flowed from membership in the European Union may well have been substantial, many people did not have any direct experience of those benefits, which largely flowed to a handful of privileged classes: young, well-educated workers in finance, people who bought housing in London before the huge run-up in valuations, and workers providing services to the wealthy foreigners and highly paid financial professionals.

Many households have seen their quality of life and living standards stagnate or decay during the U.K.’s membership in the E.U. The benefits touted by the Power Elite are either illusory or too modest to matter to these households, and their rage has only grown as the Power Elite tried to browbeat them into approving a membership that yielded no benefits to their households.

The Power Elite simply repeated what has worked well for 60+ years: tout the systemic benefits of E.U. membership, confident in the belief that some of these benefits have trickled down to the lower economic classes, and stoke fears of economic decline if the Powers That Be don’t get their way.

Unfortunately for the Power Elite, the benefits of E.U. membership, financialization and globalization have been concentrated at the top of the pyramid: the already wealthy got wealthier, and the young, well-educated, mobile, entrepreneurial class had enhanced opportunities to generate private wealth or at least secure an excellent salary.

A third privileged (i.e. protected) class includes all those benefiting from direct E.U. subsidies.

Those outside these classes saw little if any benefit.

The slow decay of living standards and social mobility was crystallized into anger by the Brexit vote, which was intended to be yet another rigged, illusory choice. The masses were supposed to be persuaded by either the list of goodies that flowed from membership or from fear-mongering about the catastrophic consequences of Brexit.

But neither worked as planned: the benefits were too diffuse or too concentrated in the hands of a few to be persuasive in terms of self-interest, and the fear-mongering only increased awareness of how much the Power Elite wanted a Remain outcome.

Will Brexit hurt the classes that did not directly benefit from E.U. membership? Perhaps. Perhaps it was not in their self-interest to vote for Brexit. But the immeasurable pleasure in depriving the Power Elite of their “democracy” legitimacy was worth any potential sacrifice.

The sense of having a real say, and possessing actual agency, is very empowering, and very rare, for members of the lower-middle class and the working class today. the wealthy and powerful are accustomed to vetoing anything that impairs their wealth or power, and they’re accustomed to either winning over or distracting the powerless.

Thus it was a shock when the powerless took the rare opportunity to stick a thumb in the eye of the Power Elite by depriving them of something they wanted.

Is this childish, or self-defeating? Perhaps. But when the system erodes a citizenry’s sense of agency, they have little to lose by relishing the chance to use the same power the wealthy constantly wield without any qualm or hesitancy: the power to say “no.”

I am indebted to longtime correspondent G.F.B. for this topic suggestion.

A Radically Beneficial World: Automation, Technology and Creating Jobs for All is now available as an Audible audio book.

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Vinny Lingham Explains – Here’s How the 1% Buy Bitcoin

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The OTC market has continued to grow, and there are an estimated 10–15 formal OTC brokers out there for Bitcoin with any real volume, and maybe 3–4 who are more well known and trusted, such as Harry Yeh of Binary Financial and a few more referenced by Wong Joon Ian in his Coindesk post, (which is well worth reading) on OTC Bitcoin trading. In the case of LocalBitcoins, they deal with smaller transactions but many exchanges also facilitate larger trades, off-book.

Many of the very wealthy individuals that I know who are looking to get into Bitcoin are not going to the exchanges. The limits are not significant enough for them. If a High Net-Worth Individual (HNI) has a net worth of $100m and wanted to place just $1m of that into Bitcoin as a hedge against market disruption, it would be imprudent of him to place that order on the open market. That is a single trade of over 1,000 BTC and it would push his price up (called slippage) significantly. Instead, he would call a broker, agree on a price (typically a few dollars above market spot price), and then perform the trade outside the market. The broker would match buyers and sellers and the exchange volume would not reflect the buying or selling activity for that trade. Now, imagine if a billionaire wanted to allocate 0.5% of his or her assets to Bitcoin. That is simply not possible on exchanges.

Read more here.

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“Gasoline Thrown On the Fire”: Friday Was Just the Beginning…

Market Bloodbath Monday?

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They Won’t Be Able to Stabilize the Markets Until We Go ALOT Lower…

Doc & Dubin Provide Full BREXIT Coverage on SD Weekly Metals and Markets:

Fortunes Will Be Made & Lost When Capital Flees To Safety

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There’s a preponderance of data that shows the world’s major asset markets are dangerously overvalued. And when these asset bubbles start to burst, the ‘save haven’ markets that investment capital will try to flee to are ridiculously small.

Investors who do not start moving their capital in advance of crisis will be forced to pay much higher prices for safety — or may find they can’t get into these haven assets at any price.

Click here to read the full article

The Truth About . . . Brexit

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