The additional sets of problems added as “solutions” only guarantee that the third and final crash of asset bubbles just ahead will be far more devastating than the crashes of 2000 and 2009.
The conventional view tacitly assumes the global economy is dealing with one problem: recovering from the Global Financial Meltdown of 2008-09. Stimulating a “recovery” has been the focus of central banks and states everywhere.
Short-sighted political expediency is a hallmark of the modern state’s reaction to crisis, but political expediency isn’t the only flaw in the central banks/states’ obsessive focus on “recovery;” it’s not even the primary flaw.
Two couples went on a picnic together in Jellystone Park. One couple was Mastercard & Visa. The other couple was American Express and Discover. Along came a grizzly bitcoin bear named Boo Boo. The Amex/Discover couple asked the MC/Visa couple “Do you think we can outrun that grizzly bear?” The MC/Visa couple said “It’s hard to say for sure, but we’re not worried about outrunning Boo Boo. We just need to out run you two.”
After winning the foot race, Mastercard & Visa sat down to enjoy their pic-a-nic when suddenly who appeared…
The worst thing about the government’s reckless response to the financial crisis of 2008, even worse than the trillions in taxpayer bailouts and backstops granted to the financial criminal that created the disaster, is the primary lesson that it sent to American society as a whole. Some people like to call it “moral hazard,” but in more pedestrian terms it really just boils down to: The Bad Guys Got Away with It.
While the negative results of this can be witnessed throughout all aspects of American life, it becomes most dangerous when it takes firm hold within institutions that wield considerable authority, whether that be banks, the IRS, or police departments. While I have spent countless hours documenting the impact within all of the above (and many more), this article focuses on the latest example of the abuse of authority from a domestic police force…
Read more here.
Many authorities have said it: banks do not lend their deposits. They create the money they lend on their books.
Robert B. Anderson, Treasury Secretary under Eisenhower, said it in 1959:
When a bank makes a loan, it simply adds to the borrower’s deposit account in the bank by the amount of the loan. The money is not taken from anyone else’s deposits; it was not previously paid in to the bank by anyone. It’s new money, created by the bank for the use of the borrower.
The Bank of England said it in the spring of 2014, writing in its quarterly bulletin: (more…)
Unlike the rest of us, the lucky Swiss get to go to the polls next month and tell their central bank what to do about gold. A yes-vote will send shock waves through the gold market and shake central banks around the world at their foundations.
Read….. What the Swiss Gold Referendum Means for Central Banks
Gold has been in a bear market for three years. Technical analysts are asking themselves whether they should call an end to this slump on the basis of the “triple-bottom” recently made at $1180/oz, or if they should be wary of a coming downside break beneath that level. The purpose of this article is to look at the drivers of the gold price and explain why today’s market value is badly reflective of gold’s true worth.
Read the full article here
Wasn’t it Michael Scott with Dunder Mifflin Paper Company who originally articulated your right to be a substrate? If the medium is the message and your transaction history is the message while your mobile phone is the medium/substrate, what does that make you – a simulation? Introducing CurrentC a training program whose unintentional consequences may be an opening of the flood gates bringing blockchain technologies to the well-trained masses and death by a thousand ant bites to Apple Pay.
A source has said that, for many many years, slothful and lackadaisical workers from Dublin corporation, (whom the corporation were afraid to sack due to pressure from the Unions), were always sent to the water service. Was this a case of willful neglect of our water service so that we would eventually, in frustration, demand privatization?
A prominent County Councillor from Ireland’s East coast has evidence that Irish Water are paying An Post (Irish Postal Service) to hold onto the hundreds of thousands of unopened ‘welcome packs’ that the public have sent back to Irish Water, until further notice.
Separately on government Carrot and Stick propaganda- another gem from Gene Kerrigan. They’re tinkering with timelines and pricing models - anything to get us signed up
Stacy Summary: Nothing to see here, move along.