People are dumb because they do not know and refuse to learn the real history behind world events. Educational institutions do not function as seekers of truth, but as gatekeepers for narratives that defy common sense and defame historical facts. Society fosters the ultimate taboo against chronicles that differ with the established story of distortions and misdirection. Anyone who dares waver from accepted limits and suppositions immediately is a quack or an extremist. The dreaded label of being a conspiracy theorist, used to smear and marginalize researchers and pundits, is the height of anti-intellectualism and character assassination.
The dim-witted public, told to shun contradictory accounts, interpretations and disturbing explanations accepts sham history. The accurate course of events must remain hidden from the masses. The subject of a New World Order is not newfound. The process of world domination is as old as the formation of the first empire. Despite the annals of war and governments, the actual power that enslaves civilizations and humanity, is evil itself, in its purist form and manifestation. Continue reading
Within a decade, greenback’s could be replaced as the world’s reserve currency
The dollar is currently boosted by being a reserve currency Photo: Reuters
In early July 1944, delegates from 44 countries gathered at the Mount Washington Hotel in Bretton Woods, New Hampshire. A three-week summit took place, at which a new system was agreed to regulate the international monetary and financial order after the Second World War.
The US was already the world’s commercial powerhouse, having eclipsed the British Empire several decades earlier. America was also on course to be among the victors of “Europe’s conflict”, even though its economy was largely unscathed by war. As such, Bretton Woods was US-dominated and produced a settlement largely on US terms.
Seventy years ago, that fateful summit ended. Its close marked the moment the dollar’s unquestionable supremacy was secured. Since then, global commerce has been conducted largely in dollars and leading economies have held the greenback as their primary reserve currency. Continue reading
It is often said that the price behavior of copper can be an early tell on what the market’s next move will be. The reasoning is relatively simply (perhaps too much so). Because copper is used in nearly all aspects of economic activity, ranging from homes and electronics to factories, it is most sensitive to global-growth expectations and turning points in business cycles. As prices rise, demand for copper increases, which in turn means that activity likely is increasing before it shows up in fundamental data. Think of copper more broadly as an indicator of industrial activity. Continue reading
Besides what the Fed is doing by printing money, there is another big threat to the dollar, said Alasdair. Countries in Asia are banding together in order to rid themselves of using the dollar in international trade.
He also warned that credible allegation of misconduct at the London bullion exchange could accelerate the trend of Shanghai becoming the world’s trading hub for gold. Continue reading
MIAMI (CBSMiami) — More than a thousand locals lined up Friday morning for several hours under the scorching sun and heat in Miami for a box full of food.
The event located at the Central Shopping Plaza at 3825 NW 7th Street started at 9:00 a.m. Participants got a box of free vegetables, meats and bread worth $100 until 12:00 p.m.–or until supplies lasted.
Those who didn’t want to stand in line could wait in their car for the drive-thru portion of the event. Continue reading
Bad Economic Policy Is Partly to Blame for Ferguson
We noted 3 years ago that the terrible handling of the economic crisis would lead to civil unrest and riots.
We noted that:
A study this month by economists Hans-Joachim Voth and Jacopo Ponticelli shows that – from 1919 to the present – austerity leads to violence and instability: Continue reading
The mass frustration is surely there. What’s missing is a mainstream national leader who will make this cause a prime election issue.
For decades, the increasing precariousness of work has been a source of mass frustration for tens of millions of Americans. But the issue has been largely below the political radar.
Politicians ritually invoke good jobs at good wages, yet presidents have been unwilling to name, much less remedy, the deep economic forces that are turning payroll jobs into what I’ve termed “The Task Rabbit Economy”—a collection of ad hoc gigs with no benefits, no job security, no career paths, and no employer reciprocity for worker diligence.
But there are signs that maybe this issue is starting to break through. Continue reading
In his recent column The Opposite of Stagflation Paul Krugman says that:
“One of the truly amazing (and disheartening) things about the Great Recession and its aftermath has been the continuing insistence of many economists that it’s somehow a supply-side slump, driven by the evils of Obamacare or something. This tends to come from people who view stagflation in the 1970s as having permanently refuted all things Keynes.
So I guess it’s worth pointing out repeatedly that the recent slump shows all the hallmarks of a demand-side shock; in particular, rising unemployment has been associated with falling inflation — the opposite of stagflation.”
So I guess its also worth pointing out that the opposite of stagflation is not economic stagnation with declining inflation, but steady growth with very modest inflation. But given it is Paul K. we’ll grant that he is assuming inflation as a reference point in this. And in focusing in on the model battles, he is saying that we are indeed seeing stagnation, but there is deflation as his form of the Keynes model would predict. Huzzah!
I will put aside for now his assertion that we are seeing declining inflation. I think it might be said we are seeing little inflation growth overall, but with inflation appearing in certain product segments and assets. But this is, I believe, an artifact of the way in which the Fed is pursuing very significant, top down monetary stimulus in a system that is still distorted and corrupted by the financial sector and its moneyed interests. A few at the top are taking the greatest part of the monetary growth, and their demand is not for common goods but for luxuries, and monopolies, and more financial assets. Continue reading
Inventory of treasure worth MILLIONS of dollars revealed from 1857 shipwreck off South Carolina coast
A photo from 1989 shows gold bars and coins from the SS Central America which sunk in a hurricane in 1857 off the South Carolina coast. Newly unsealed court documents provide the first detailed inventory of the treasure trove which is worth millions
Deep-sea explorers have recovered thousands of gold and silver coins and more than 40 heavy gold bars easily worth millions of dollars, along with a slew of personal items that are a virtual time capsule of the California Gold Rush in a 150-year-old shipwreck.
Newly unsealed court documents provide the first detailed inventory of a treasure trove being resurrected from an 1857 shipwreck at the bottom of the Atlantic Ocean. Continue reading
A rule that could help consumers is on hold — again
The art of politics may be most visible in delaying important decision-making until it is no longer relevant.
That’s the point we are reaching with the fiduciary rule — a standard that would require financial advisers of all stripes to put the best interests of their customers first — as it has gotten stuck in a legislative abyss that, by now, has swallowed up much of its potential impact.
Truthfully, the entire process is insulting to consumers, and the only reason that Congress, the Department of Labor and the Securities and Exchange Commission can get away with it is simple: The market has been running at record-high levels and isn’t showing signs of cracking.
At this point, the best consumers can hope for is that the rules finally change to a common-sense standard once there is a significant market downturn to motivate the politicians. Continue reading
We have often spoken of the difference between what is commonly thought of as “money,” i.e. paper currency, versus actual physical precious metals. Historically, money has been gold, silver (and at one time copper) – and now for an increasing number of savers, platinum and palladium.
What’s the track record of paper currencies? Should we care?
Paper currency was introduced by the Chinese around 1400 years ago. After a pretty good run as a “money substitute,” the authorities got carried away with new issuance, and their currency declined to its intrinsic worth – the value of the ink and paper it was printed on, i.e. essentially zero. Continue reading
Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization. He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017. The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system. So when Jaime Caruana speaks, people should listen. And the fact that he recently warned that the global financial system is currently “more fragile” in many ways than it was just prior to the collapse of Lehman Brothers should set off all sorts of alarm bells. Continue reading