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Globalisation debt & banking

Old 16th Aug 2011, 08:07
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Very elegantly put onetrack.

If people doubt that this defaults/renig of debts wont happen, consider this:
» Soros: Dollar ‘no longer’ reserve currency Alex Jones' Infowars: There's a war on for your mind!

At 1:20 in the vid he mentions commodities as a basket of backing to a reserve currency. If gold for example is a part backer to another currency then expect $2500 - $5000 oz prices. silver will most likely jump to $150 - 250oz when that happens. Soros by the way is only looking out for Soros. Is he hinting that their will be another reserve currency group? interesting thought, however it will take a massive amount of liquidity to make that happen as US treasuries are the most liquid in the world.

If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.
- Thomas Jefferson
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Old 16th Aug 2011, 11:52
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happy days, eh.

dutch roll, you are in denial mate. and it's tough for you, admit it.

you know nothing about all this.

you fear the effort and time it would take to get up to speed and figure out what to do, if anything, to prepare yourself.

ok, so you're a bit late to the edu-me-cation here.

further delays may cost you.

or not.

good luck with the 'or not' part.

well done to the contributors.

heavy going, but i've been doing this for nigh-on 20 years now.

16, in fact.
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Old 19th Aug 2011, 00:38
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Venezuela Plans Funds Transfer - WSJ.com

interesting :-) gold at $1827oz today..... another record...again.
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Old 19th Aug 2011, 00:55
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interesting :-) gold at $1827oz today..... another record...again.
Nice price !!
As for Venezuela, maybe it is a very prudent move ? Think about it, the worlds most powerful nation is broke. They are so desperate that under false pretencies they raided Libya and confiscated billions of dollars of so-called 'dirty money'. Maybe the bully boy antics of Uncle Sam will include raiding the gold supplies of weaker nations also ? Why not, desperate times equal desperate measures perhaps ? It is probably less risky stashing your gold supplies in China and Russia than leaving it in Venezuela where the USA could come in under some sort of 'military need' and pinch the lot..
This worldwide problem is hotting up. Obama's 'financial armageddon' edges closer.
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Old 19th Aug 2011, 01:33
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Just remember Obama is a Wall street puppet for many bigger players above him!
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Old 19th Aug 2011, 06:08
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Chavez has been threatening the greenback status quo for years with off budget oil bartering and forex fiddling putting him squarely in the sights of Washington’s power elite.

Washington has been arming the crap out of Colombia for years all in the name of the “war on drugs”.

Does anybody see a connection here?

Coincidently as I write this, my ipod hit a song on shuffle by Bruce Cockburn written in 1985 called “They call it democracy”.

I will attach the lyrics below, very poetic and well timed I thought, sorry to those non musos,

Padded with power here they come
International loan sharks backed by the guns
Of market hungry military profiteers
Whose word is a swamp and whose brow is smeared
With the blood of the poor

Who rob life of its quality
Who render rage a necessity
By turning countries into labour camps
Modern slavers in drag as champions of freedom

Sinister cynical instrument
Who makes the gun into a sacrament --
The only response to the deification
Of tyranny by so-called "developed" nations'
Idolatry of ideology

North South East West
Kill the best and buy the rest
It's just spend a buck to make a buck
You don't really give a flying ****
About the people in misery

IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt

See the paid-off local bottom feeders
Passing themselves off as leaders
Kiss the ladies shake hands with the fellows
Open for business like a cheap bordello

And they call it democracy
And they call it democracy
And they call it democracy
And they call it democracy

See the loaded eyes of the children too
Trying to make the best of it the way kids do
One day you're going to rise from your habitual feast
To find yourself staring down the throat of the beast
They call the revolution

IMF dirty MF
Takes away everything it can get
Always making certain that there's one thing left
Keep them on the hook with insupportable debt
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Old 19th Aug 2011, 07:34
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oicur12.again thanks for the addition to my music collection

Gold smashing higher breaking $1850oz! hahahahaha and to quote g.bush "let us not tolerate outrageous conspiracy theories"....... greed at the masses expense :-) No wonder they call us sheople!
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Old 22nd Aug 2011, 08:51
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Alasdair Macleod's (financeandeconomics.org) GATA speech 6-08-2011[.pdf] does a brilliant job of drawing all the strands of the last 100 years together to provide an explanation of why the system is imploding.
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Old 22nd Aug 2011, 09:59
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Washington has been arming the crap out of Colombia for years all in the name of the “war on drugs”.
Off the top of my head, and everyone can check wikpedia, but the Colombian military's structure is built around mostly counter-insurgency assets such as Vietnam era light strike aircraft and helicopters. All very logical in a drug war scenario.

If the US was arming Colombia to the teeth to threaten or balance Venezuala's massive procurement of modern Russian fighters and the like, you would have seen gifted F16's or F18's by now.

But we have not. So I don't see your connection.
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Old 22nd Aug 2011, 12:11
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I thought this was a brilliant explanation of our recent history.

There's plenty of more info if you google David Harvey.
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Old 22nd Aug 2011, 15:47
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"We'll all be rooned," said Hanrahan.....
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Old 25th Aug 2011, 22:34
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Friday, 29 July 2011

JOURNAL: Central Planning and The Fall of the US Empire

Here's some thinking that draws on decision making theory. It's very much in line with how the late John Boyd (America's best strategist) would approach it.


-----------------------------------------------

One of the most interesting underlying reasons for the decline of the Soviet Union, and soon the US, is misallocation of resources due to a reliance on central planning.


Misallocation in this context means that year after year, decade after decade, the wealth of a nation is spent on the wrong things. The wrong projects are funded. The wrong infrastructure is built (or not built -- the US is 38th in the world in Internet connectivity and falling). The wrong things were bought and so on. Eventually, the accumulation of bad investment made the USSR so fragile that even the smallest shock could topple them.


The reason for this failure was that the Soviets relied on central planning. A system of economic governance where small group of people -- in the Soviet Unions case bureaucrats -- had all the decision making power. They decided what was spent and where. Even with copious amount of information, they decided badly.


Why did they decide badly? The massive economy of a modern superstate is too complex for a small group of people to manage. Too much data. Too many uncertainties. Too many moving parts.


The only way to manage an economy as complex as this is to allow massively parallel decision making. A huge number of economically empowered people making small decisions, that in aggregate, are able to process more data, get better data (by being closer to the problem), and apply more brainpower to weighing alternatives than any centralized decision making group.


Of course, the misallocation due to centralized decision making wasn't supposed to be a vulnerability of the West. To allocate resources in our economy, we had a conceptually more efficient mechanism: markets. Markets are supposed to be a mechanism that allows massively parallel decision making.


Those assumptions are proving false. The succession of market bubbles, the global financial collpse of 2008, and the recent US debt problem is prima facie evidence that gross misallocation has occurred for decades. The wealth of the West, particularly the US, is being spent on the wrong things year after year, decade after decade. We are now as fragile as the Soviet Union in the late 80's.

What happened?


Central planning took over the decision making process in the US, both through the growth of government and through an unparalleled concentration of wealth.


The parallels between the rapid growth of US government bureaucracy and the Soviet bureaucracy is straight forward. As more and more of US economy was controlled by a narrow group of decision makers allocating government resources, the more sluggish the entire economy became (most of this was due to massive growth and mis-allocation in entitlements and defense). Further, the ability of government bureaucracies to extend their decision making to remaining majority of the economy through regulatory action, is also a form of centralization. However, even with all of this government growth, it's is still not enough to account for the level of misallocation we are seeing.


There's is something else at work.


The answer is that an extreme concentration of wealth at the center of our market economy has led to a form of central planning. The concentration of wealth is now in so few hands and is so extreme in degree, that the combined liquid financial power of all of those not in this small group is inconsequential to determining the direction of the economy. As a result, we now have the equivalent of centralized planning in global marketplaces. A few thousand extremely wealthy people making decisions on the allocation of our collective wealth. The result was inevitable: gross misallocation across all facets of the private economy.


To see what this extreme wealth concentration looks like as a distribution, we don't have to look further than income distribution in the US (classic power law). The liquid wealth of those on the extreme left of the curve completely outweighs the 99.5% of the population to the right (the distribution is FAR more skewed than most people even imagine -- Republican or Democrat). This graph would also be a good way to demonstrate how decision making in a bureaucratic dictatorship in a country like the Soviet Union looked like before it collapsed.





The result of central planning in the US has finally hit the wall. The list of problems is endless. The misallocations range from the dangerous $600 trillion derivatives market to the destruction of the US middle class (by exporting jobs and the substitution of income with debt).


The end result is that our economic and political system has become very fragile. All it will take is is one extremely bad decision and the cascade of failure that follows will catch everyone off guard.
JOURNAL: Central Planning and The Fall of the US Empire
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Old 26th Aug 2011, 02:43
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Max discusses the secret $1,200,000,000,000 ($1.2 Trillion) bailout of the Wall Street banks in 2008. (data revealed after Bloomberg FOI request)

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Old 27th Aug 2011, 20:54
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This is interesting, though a little hard work to understand (for me)

[1107.5728] The network of global corporate control

The structure of the control network of transnational corporations affects global market competition and financial stability. So far, only small national samples were studied and there was no appropriate methodology to assess control globally. We present the first investigation of the architecture of the international ownership network, along with the computation of the control held by each global player. We find that transnational corporations form a giant bow-tie structure and that a large portion of control flows to a small tightly-knit core of financial institutions. This core can be seen as an economic "super-entity" that raises new important issues both for researchers and policy makers.

Download the PDF on right hand side, or click this direct link

http://arxiv.org/PS_cache/arxiv/pdf/...107.5728v1.pdf

Introduction


A common intuition among scholars and in the media sees the global economy as being dominated by a handful of powerful transnational corporations (TNCs). However, this has not been confirmed or rejected with explicit numbers. A quantitative investigation is not a trivial task
because firms may exert control over other firms via a web of direct and indirect ownership relations which extends over many countries. (etc etc)


A bit (well a lot) technical, but interesting & scary.

Lid
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Old 27th Aug 2011, 23:28
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Misplaced wealth

The rules (which have been broken) are really quite simple.

Unless prosperity is geared to productivity, the system will fail
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Old 29th Aug 2011, 19:32
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Gnads,

COIN, yes. But that’s how Washington has often fought its proxy wars in the America’s.

But take a look at what Colombia has in the pipeline.

Destroyers/Submarines/Artillery/more Kfirs/KC767/heavy transports.

Sounds like one hell of a war on drugs.

“Plan Colombia” is not yet complete.
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Old 31st Aug 2011, 04:09
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Originally Posted by Exhibit A


"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."
Attributed to Thomas Jefferson, Letter 1802 to Secretary of the Treasury, Albert Gallatin

Originally Posted by Exhibit B


"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again.

However, take away from them the power to create money and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."
(Said to be from an informal talk at the University of Texas in the 1920s, but as yet unverified.)
Sir Josiah Stamp Director, Bank of England 1928-1941 (reputed to be the 2nd richest man in Britain at the time)


Originally Posted by Exhibit C

Congress Giving Millions of Foreclosed Homes To Wall Street Slumlords
By KEN LAYNE
12:46 PM AUGUST 24, 2011


Great news, everybody: After deliberately failing to help millions of American families stuck in vulture mortgages, the U.S. government is now giving those foreclosed homes to Wall Street for pennies on the dollar so that Wall Street can then rent the now-vacant foreclosures back to the same people pushed out during the Wall Street-caused housing bubble collapse. Wall Street stands to make an immense profit by becoming, overnight, the “largest improved real-estate owners in the world.” Who says capitalism doesn’t work, with a little help from the government by taking away the property of the working class and giving it to billionaires who pay no taxes? Who says that?



The Street/RealMoney.com reports on this innovative solution to the problem of millions of foreclosed homes currently not providing income for Goldman Sachs:

The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds.

These homes, which are now the property of the U.S. government, the U.S. taxpayer, and U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value. You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.

In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates.
source
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Old 9th Sep 2011, 01:47
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I can't get this youtube thing to embed the video. Very interesting watch.

Gold to hit $20,000 an ounce!

Debt Collapse - $20,000 Gold - Mike Maloney On Gold and Silver (Full Presentation) - YouTube!

I must say this has been an intersting thread. Some may say it's conspiracy theory stuff but thers a grain of truth to everything.
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Old 9th Sep 2011, 02:10
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Cost Index, you need to get the actual URL of the youtube video (without the =embedded), paste it into the reply, then BB code automagically parses it correctly: Bling


Mike Maloney is very good, I found this article thoroughly researched & very interesting: Mike Maloney: How the Hunt Brothers Capped Gold…Yes, GOLD!
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Old 9th Sep 2011, 17:26
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I've only just (quickly) read this thread, so I do apologise to all if what I say has already been mentioned by other Pruners...

It's not a matter of calling people on this thread "conspiracy theorists" per se.

It's a matter of people on this thread apparently thinking the world is about to disastrously end and talking of buying up gold bullion (good luck with that), getting their guns oiled & loaded, and taking to the bush with their billy can and swag.........or paranoid wording to that theatrical effect. I actually have visions of you blokes holed up in a cave somewhere hundreds of miles from civilisation with an empty coke-can tripwire warning system at the entrance, huddled over your fire keeping your 12 inch long beards out of the cinders, cooking up the lizard you caught the previous evening, jealously guarding your gold bullion and your personal organs from the Kidney Collectors doing suburban doorknocks, in a scene reminiscent of something out of Mad Max 2.

Good on you. Off you go. You won't mind if I stay put?
Dutch, no one minds if you stay put. That is your call, you are an individual with your own opinion. That is the beauty of life, isn't it? No one can take that from you. But may suggest a reading/viewing of all presented on this thread would be a good "investment" for you and your family...

If Qantas knew what was coming down the financial road, they would stop their expansion plans, euthanase Jetstar and focus on conserving every cent of cash they can. Sell the A380 and B787 slots for what they can.

That means doing as much as possible of their own work in house, in Australia. Repair, don't replace.

The share markets around the world are not undergoing some "correction", this is the beginning of financial Armageddon.
In a perfect world I would have AJ sitting right here, right now in front of me and quote the above from Sunfish. Shake him. Slap him. Make him understand. What we are now living through is the end of the "game" as we know it, a complete and total restructuring of the financial and power landscape. This does not happen often, but nonetheless has occurred throughout history whenever the reigning government/power tries to dilute the money, i.e. bring in Fiat currency. Look what happened to Rome..Today is no exception.

Watch this space. Dow 20 at less than 4000, ASX 200 less than 1500. Your home (let alone you rental) here in Aus off 40 (!!!) percent. Grand predictions, yes. But let me continue. Japan share market and property peaked in 1990, and to this day still at a 70% discount. Don't think it can happen here? China, the big bubble. It implodes, where does that leave Australia, the two speed economy? How bout this. Totally f**ked. And you clearly know where the EU and US is headed. so, what does one do.....?

Well, not buying (traditional) shares, not buying property (until the suckers sell it to me at a massive discount). Art? No idea, can't help you. But to you AJ, your new investments WILL FAIL. For all of the reasons above and more...

Prepare yourself. Like in Austin Powers, I like Gooooold....

Last edited by Dixons Millions; 10th Sep 2011 at 03:08.
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