This is a rant against the Federal Reserve, written for those angered by Janet Yellen’s tone-deaf remarks last week. The Fed is silently, but clearly engaged in the process of financial repression — transferring purchasing power from savers to debtors in order to keep our over-leveraged system sputtering along for a bit longer.
This is bad enough; but for the head of the Fed to deliver such a “blame the victim” message is beyond the pale. It may very well prove to be this new century’s “Let them eat cake” moment — one swiftly followed by righteous public ire.
Last week, two very important stories came out; one from Reuters and the other from Buzzfeed. They both zero in on how current NSA employees are using their expertise and connections to make big money in the private sector while still working at the NSA. Let’s start with the Reuters story, which covers former NSA-head Keith Alexander’s business relationship with the NSA’s current Chief Technical Officer, Patrick Dowd…
Read the rest here.
This is the net result of commoditization: there’s no premium for commoditized capital, labor, goods, services or content.
As I noted in Our New Robot Overlords & The Third Type of Capital, profits flow to whatever inputs are scarce. Unfortunately for musicians, writers, filmmakers and others producing creative content, creative content is no longer scarce: it’s been commoditized and is now available in unlimited quantities for $10/month.
The billboard financed by the crowd at StartJOIN.com has gone up overnight in Chicago!
Here it is in situ:
— seanfahey (@seanpfahey) October 20, 2014
Here is the original:
Li unable to meet Ukraine president due to 'full schedule' http://t.co/HlZKrpjtbH
— China Daily USA (@ChinaDailyUSA) October 19, 2014
When the Troika Banksters formally took over our economy in 2010 a small group of Irish people met with Max and Stacy in Dublin. Max asked if Irish people were a state of shock or just suffering from Stockholm Syndrome swallowing blindly the Irish MSM’s compliant line? ‘The banksters have their eyes on the assets of the Irish people and they want them cheap!’ said Max. Although I had campaigned bitterly against NAMA ( a slush fund for big property developers) and considered myself aware, it was my Sunday Businness Post he was brandishing from the table he was standing on as he roared all this out. The shock tactic worked. Everyone in that room woke up out of the grief that held us immobilized. Now the corporatization of one of our most precious resources is the shock that has awoken the people of Ireland from their collective bankster/MSM induced PTSD. Politicians are running scared as we change our personal and collective narrative of powerlessness.
‘In November 2009, Fine Gael published a document titled New Era, with a plan for “bringing all of Ireland’s water assets under the ownership of one state company, Irish Water”. Read more ›
These are the designated losers of monetary policy. And there are a lot of them.
For those who doubt that America is ruled by a narrow elite: three charts.
The book Why Nations Fail: The Origins of Power, Prosperity, and Poverty neatly summarizes why nations fail in a few lines:
(A nation) is poor precisely because it has been ruled by a narrow elite that has organized society for their own benefit at the expense of the vast mass of people. Political power has been narrowly concentrated, and has been used to create great wealth for those who possess it.
Sound like any countries you know?Perhaps we should flip this question around and ask: how many nations don’t fit this profile?
We discuss Johnny Rotten calling Russell Brand a ‘bum hole’ and offer the Keiser Report show as a platform for a debate between the two. Max notes that quantitative easing is the central bank equivalent of punk rock gobbing. We highlight several of the many market distortions similar to the insanity leading up to the 1929 market crash – including $140,000 AUD cats. In the second half, Max continues with his interview of Professor Antal Fekete of FeketeResearch.com about how the 1921 bond market collapse led the US Federal Reserve & Treasury conspiring to illegally introduce open market operation, leading to a situation in which profits in the bond market are risk free while profits in the commodity market are NOT risk free.