http://www.zerohedge.com/contributed/2014-02-04/anyone-really-surprised-system-brink-again
Well I wrote here over an over again it’s not the question if, but only when. Unsustainable system must crash, sooner or later. Nothing can prevent that. I’m still not sure if the break-down is just around the corner or what else may happen. But one can be sure: They are still printing money and this always ends bad.
I warned over and over again. Still to no good as it seems.
I warned that in the end empires usually end in disaster of wars. And it might be that it’s the same this time. There’s war in the air between China/Japan and therefor sooner or later also the USA. They all are fallen empires. Agreed they still are around but just walking corpses. China may look best on first sight, but the things I know about it speak differently. If you burry money in ghost towns something clearly is wrong.
Everyone but the politician know that Japan and the USA are bankrupt. No one ever got rich by collecting debts and nobody ever got rich by just printing money. Money printing is the “hallmark” of political losers. They can’t win this argument and so they do everything to distract from their crimes. But to no good at all. http://www.zerohedge.com/contributed/2013-12-16/fear-and-trembling-muni-land
Here we go
Japan prepares for war: http://www.zerohedge.com/news/2013-12-16/pacifist-japan-launches-no-guts-all-war-spending-glory-military-plan
USA gives up whole cities: http://www.zerohedge.com/news/2013-12-16/camden-new-jersey-one-hundreds-us-cities-are-turning-rotting-decaying-hellholes
America is not the land of the free any more, it’s politicians and bureaucrats are running wild and they do all they can, just leave devastation behind. Still the USA do have one advantage, the citizens can still wear, buy and have weapons. If they would not the state would have nothing to fear. But in that way, they are heading for a new civil war, I don’t think that the state can make it against most of it’s people. Anyway, it will get bloody, and that is my biggest fear. They to no go under in silence, but massive slaughter.
The old liberals have warned over and over again, don’t go down this way. But to no good, the fascists always got the upper hand in the end and freedom just get’s a chance after the horrible end of such end of fascists/socialist countries.
TANSTAAFL
Take that Obama. You are surely one of the worst presidents the US ever had. You are in very bad company. There is Nixon, and the civil war president Lincoln. Now all of them have one in common they have not the slightest respect on the constitution. It was meant to keep the state ouf of ones live. But what did you they do? They send their citizens into battle, they’ve stolen their property and they forced them into health care. What do you think are? God?
So what?
Dear Mr President tolds us. that Guantanamo
does not work against terrorism
is expensive
and damages the reputation of the US
Well that it’s against and civil and human rights. No word. So you can draw your own conclusion. Word are cheap and Presidents natural liars.
It’s a pitty that the old blog can not be accessed any more….
well or you can name is political theatre time.
If it wouldn’t be so serious one could sit back and enjoy the show. Anyway the US democrats and republicans will simply raise the debt barrier again and so the so called fiscal cliff will just vanish like snow in the sun.
Nothing will change, the fact that the USA is bankrupt. Not just in the tight sense of having nothing more but debts. But even in moral standards. The wars are unjust, the surveillance against the civil rights. The FED is an illegal construction and the green-buck with being backed up by something like gold or solver a sham.
So the system will break down. We do not know when and how. But it’s now unavoidable. The US with just 5% of the world population just stands for 42 % of all the NEW DEBTS. And every year now there is a deficit beyond 1.2 trillions (Yes I got that figures right).
So what we see is the last and biggest credit expansion ever. There’s nothing but too much money, and it helps the defrauders to expropriate those which still do have something of some value. The payments for the bank workers have nothing to do with fair payments. It just shows the owner have not way on stopping this Bankster. The bankster also have the advantage of the politicians on their side. (Who else should take the new debts) and the worst problem is absolute central the central bank FED. She will got down the drain and take the state with her.
Maybe the citizens will keep away the power of the parties. But chances of that are slim…. Maybe the go back to the core of the constituion, because one thing is for sure, the Deldefs and bureaucrats have broken it…
of the current crises but return to sound economic action.
As long as we do not take “Human action” serious we’ll be fubar. We’ll also be fubar while keeping fiat-paper as money.
The history of fiat-paper is devastation. And there is no other word which just gets near this meaning. No inflation ob paper sums will ever get
more things produce. Yes there will be booms and thereafter there will be busts. Inevitable.
The big problem with all current schools is that they do not take humans and their preferences as base. They alway think of some kind of normed human, and
despite diversity. This can never do. Nobody can know what’s on the mind of someone else. Parents never will understand their children completely and will alway be surprised
about some of the “ideas” of their children. Well the other way round Children always will think about the grown-ups to be some kind of odd.
We can make “assumptions” about behavior and we can ask. But we can not know if it-´s just said or meant. This is one thing we can not know. The other thing is we
can not know the future. But what we can know is that there are rules men as to obey. Men never can fulfill needs for himself at once. It always takes time and time
definitely is limited. We got our 80 or so years to live and in that time we just can do one thing, acting. If we don’t act we’ll die. It’s as simple as that.
And we know also we need things for our survival. We need water, food, and shelter. Hardly many live in areas where shelter is not needed. And even id you do not need shelter you need water and food.
And you have to act to get this things. Von Mises has phrased and explained that in “human action”. It is one of the most important books about men ever written. It does not even is so important that our predecessors were apes. Knowing that does not help us to survive.
We know we simply need some things to survive. We have things Mises has written down. We can think, we can imagine. We know we’ll die if we do not get food. In the current time we still know how to get our food. Well visit the super market or farmer or visit some market. And we know also, we better have something we can trade, otherwise it will be “hard” to get something. And so we “know” having money is “good to have”. And so we offer something we can produce ourselves in exchange to money. And we can use this money helping to fulfill our needs. After the needs comes the wishes.
All this wishes have one thing in common again. To get them fulfilled we need time and there we again have the limits within we have live our life. And again von Mises has written it down in this most important book.
What we also know We can cheat, but not in the long run. And one means of cheating is fiat-paper. So in the long run fiat-paper won’t do it. And so if we want to get out of the crises we must return to sound money and the ever holding law that we just can consume what we were willing and/or able to produce. So there’s the way out. The longer we do not take them the more problematic the way will get…
I’m reading quite a lot and well I am arrogant enough to write that I found great writers and economists which have expressed much better what I
thought to be true as myself.
Once upon a time I was learning farming. I worked on a paster station and I worked on a farm specialized on pig breeding and pig fattening. My father was a farmer as were both of my grandpas. So yes it seems I would be farmer too. And I started with it. I loved my work. At least most of it. There were jobs which were just gruesome. We had a disease under our pigs which one could not heal. So you have to kill fresh born shoats. I can assure you nothing is more terrible than to slaughter small ones. But that’s another story.
Why I did not get farmer in the end. Well to my “misfortune” I had (and I guess still have) an idea what makes economic sense and what no. So the later farm was somewhere at the edge going bankrupt. But the problem I saw was that
And last but not least to earn something around 50000 DM would require a farm well valued above 1 000 000 DM. That are roughly 5% with all the risk and all the work. Well this cut it for me. I would have other sources of income but I did want to “earn” my living myself with a “fair” return on investment.
Anyway the point I want to come back to are subsidies. To that time I had discussions with my father in which I told him subsidies are wrong. Under any circumstance. So most of my income would be not paid for by people wanting to have my stuff but subsidies this was a thing I could not want. And this was a point my father and I were of a completely different opinion. To that time I did not even know about the austrian school of economcs. How should I? I was grown in a higher school and my teachers were paid for by the state. You can not expect from paid public servants that they serve the customers (in this case the scholars) or anything critical about state control. All they had to teach us was and still is state controlled. Oh yes they will tell you it’s for the better to use all, but that’s just another lie.
So I did not follow into the farmers shoes (a thing I partly regret, because in this crazy times it is good to have something to get you fed). I still started my other “career” I’m now software developer (and to be honest I love it).
But back to my “readings”. As you can see I start blogging around the time the first bail-outs were “done”. (See http://fdominicus.blogspot.com) even to that time I did not know from the austrian school. How should I? I was grown also on a state controlled university and you can bet what the national economics are. They a breed on a state controlled school, and are raised than in state controlled universities paid for by the states. So no you can not really expect an austrian economic in universities. But as you can read through my other blog and my blog here, I did not know them as I started blogging.
And still you can see I’m a clear fan of open markets. Nothing could be more fair is my strong opinion. And during the last 4 years I learned about the austrian school and there it was. My feelings expressed in great books. I guess it started with something from von Mises (I can’t remember really but it could have been human action). Well since then I read more and more about it and found my intuitive findings supported. And still I can understand that stuff (after all maybe the education at the university pays of for me, at least some parts of it are about critical thinking ) and there we have them: von Mises, Hayek, Rothbard. Now I have to get over 4 decades to learn anything about it, now tell me about mind washing….
So know I can clearly tell everyone which books to pick up to “get” something real. It’s indicative that von Mises never has tought much on a university, hell the austrians are the devils in person of all the good-doers in every positions of the state. And still they are the only ones which saw it coming. NO OTHER SCHOOL WAS ABLE TO DO THAT. You can bet whom I do believe more. You have one guess free 😉
Anyway they have written down what I has somewhat mangled up in my mind. And I’m delighted that I found that what I call horse sense (as you know I’m not an educated national economist) has some theoretical background and was the only school of thinking which could see it coming. So yes I see this as a confirmation of my reasons to even start my blogs.
You can call me arrogant or whatever you like, but it pleases me that things I figured out by myself are supported by the greatest economics the world has seen till now. And yes I’m proud that I figured this out by myself and that I could even see my bad feelings about the education at our “universities” have a sound foundation. So yes was able to figure that out myself but the books just showed me that I could not be that wrong. And yes I’m feeling also happy that I can name charlatanism if I see it. And yes the biggest crime ever was and still is the establishment of fiat-money. So we know it’s evil and so we should stick to the von Mises motto: Tu ne cede malis, sed contra audentior ito (Latin: Do not give in to evil but proceed ever more boldly against it) and demand to get our money back and we have all the right to demand: “End the central banks”.
And one thing I (the I in very Big letter) will never forget: It started with the feeling of a 19 year old boy learning farming, which figured out some truth (maybe even some eternal one) himself while condemning subsidies. I know it does not mean anything to anyone else, it makes THE difference for the man in front of his screen and keyboard…
A nice story from our political establishment here in Germany.
Mr Eichel (ex finance minister) has said he would invest in bonds of Greece as the “show” started. Now we learn (he was just joking or simply lying). He wanted to buy for the enormous amount of 1000 € (well now tell me about investing) but unfortunately one had has to buy for at least 5000 € . Well one can call it bad luck I guess
His excuse of not buying now any more is even more “fantastic”. He can not buy bonds with a yield of above 20 % that would be to speculate.
Well the longer the crises lasts, the more obvious it gets. Our banking-system is a sham. It allows banks to
generate money out of nothing and even worse it allows defraud on the banking customers.
You don’t believe me. Well then let me ask you just one question. I fyou are holding sight deposits, will banks lend them?
Yes they will that means they are lending money which is not their own. And this means also if every holder wants to get his/her sight deposits, the bank will be bankrupt (bank runs)
And does government anything against this defraud? No it is supported and backed up by them and so we get “gurantiees” on our sight deposits. but not fully oh no, just around 100 000 whatever.
That means if you are holding 200 000 in sigh deposits the guarantee is just well half of YOUR money. That’s a crime
And banks do not have to care for customers, they just have to care about central banks. And guess what central banks do. They just generate another round of money out of the blue.
Or do you think the 1 trillion of new debts here in Europe are covered by anything? Well think again.
Overall this system is fubar. One can not expect it to work and it is unfair from the ground up. You can not build trust on such kind of ground. But hey, the deledefs know better and you just have to believe them…
For me it’s more likely to imagine hell freezes over but believing any deldef or central banker….
Saving the delebets way does not mean cut one’s expenses but highering ones income. Now this time it Italy.
A higher tax for the rich, a higher tax on capital gains etc, but not mentioning cutting down the expenses FIRST.
I guess that’s what GDP related debt mens. All you property belong to use. We just decide when and where we take it.
Another astonishing development. Forbidding free trade, you think that some stock are to high and do start selling them, empty. It’s now forbidden in three or so countries here in EUR land. France, Italy, Spain. Remarkable? Not really that are those which most distruste. As I’ve seen yesterday even buying Puts short should be forbidden. That means you can not express your opinion that markets are too high. And that will surely help. It will make everyone feel much better. Or not?
It fits very nicely to my predictions that the worse the state of affairs get, the more the delebets will try to “steer” control. The delebets do know they are wrong-doers but they would never admit it. So they are looking for scape-goats and there they are speculants…..
So one can see the usual lies are not langer sufficient, now they introduce some newer ones. BPOHs
Translated from: http://fdominicus.blogspot.com/2011/04/das-mochte-ich-hier-festthalten.html
1) a politician never is guilty
2) if a politician is guilty 1) takes immediate precedence
3) if a politician is guilty an lying, it has to be blamed on the markets
Just have a look at a few entries on the mises log in the past few days:
http://blog.mises.org/16587/when-in-doubt-blame-the-speculators-%E2%80%93-again/
Just an example from Germany, The taxes on fuel are well beyond 70% IIRC they are even near 80%. Who get’s blamed the oil companies. Well they are responsible of 1/3 of the price but
with every cent more the deledefs get 0.7 cent more robbed cents. That’s the “truth” and no-one can deny it, but the deledefs do over and over again….
Keep that in mind and you have much easier times to understand, their actions.
I like it it subsumes everything nicely what’s happening in EU or US country. Strange enough one does not hear such garbage from Neu Zealand, or Australia. Well the Japanese are
similiar and the Chinese are well “different”. We know the lie (but how does not) but they are culitvating their own bubbled. I can not see a city without population as a good investement..
See e.g:
http://blog.mises.org/16436/the-inevitable-result-of-central-planning-chinas-ghost-cities-and-malls/
Yes the EU safety chute should get fixed. This time with “much” more hefty punishments.
If a country does not do this or that then the get very high fines. (Might be interesting trying to fetch that fine if the country is bankrupt, but I guess this is just a secondary thought.)
Biggest sin: Buying from bonds of “any” country through the ECB. Zimbabwe and FED are greeting….
So we’ll go on with this Ponzi Schemes of curing too much credit with eve more credit. I thin Japan will take the lead this time. They have to rebuild their country. And so they’ll flood th world with new money.
I come back to my predictions. It seems a lot of them will get fullfilled earlier than thought. And one day they suddenly will find “no-one” accepting this worthless sheets of paper any more. And then it will not be the states and governments which have “send everything down the drain”. Iit will be the “capitalists” …. Atlas shugged get’s more and more a documentation.
of politician sorry deledefs.
This time in the name “of saving mother nature”. This times by mean of bioful. According to this:
http://www.welt.de/wissenschaft/article3131881/Biokraftstoff-verbraucht-mehr-Energie-als-er-liefert.html
One needs more energy to produce bioful than it yields. I guess this should be the political counterpart of a perpetual mobile.
I guess nothing can be too expensive or stupid to ruin the whole mankind. This time we need more energy than before to have even more CO2 produced in the name
of CO2 reduction. Now tell me anything about stupidity.
Strange enough my predictions bear fruit. I told we can expect raising prices, and yes we have raising prices. But in the land of arbitrariness through the concept of core inflation. This is not counted as inflation. So the defrauders conceil their wrong-doings. Or even simpler, the raising prices are due to speculation. And fighting against speculation allowes for even more
laws to “fight” the bad speculants. And so spiral towards the abyss. More bureaucracy means more waste and more wrong-doing. And there is no correction for it because bureaucracy is just supervises by itself. The way is chrystal clear… Anyone but deledefs can see it…..
Ah well let’s see the US consider military force against Libya. And no they do not consider the same for China.
A “practical arrangement”. If he enemy seem to have lost, get him. Otherwise do everything to please them. China has killed 25 years ago.
Reaction? Nil.
Not doing business with China is not an option any more. Because the USA have “outsourced” everything they need to have an own sound producing industry.
All the modern IT stuff it made in China, maybe Taiwan (but pst don’t say that loud or BB China will get very upset). Yes there is Intel but hardly any stuff else needed for building computers are “outsourced”. Yes it’s to maximize the profits of the managers. And if that fails, then Big Daddy is not “far” away. A few trillions here or there among “friends”….
from you stupdity and recklessness and especially expertise.
http://www.zerohedge.com/article/financial-crisis-inquiry-commission-slams-greenspan-bernanke-geithner-paulson-summers-sec-ra
Just see what the commision writes. The crises was forseeable. Well am not aware that anyone but the Austrians or near stand-bys have warned.
And well I do not know who is in that commission, but let us assume there as politcians in it which were there 2 years ago also. And so why “haven’t” they warned 2 years ago. Well I guess they thought it would be stupid not to get-rich-quick.
You can really see them showing us how stupid we should be. And of course it was lacking regulation which let to this disaster. How stupid is that?
Everyone in the bureaucracy then has backed up this Ponzi-Schemes. And you can see of course what should help “more” regulation. The “regulation by bankruptcy” is not an option. It would probably be too hard for those member of diverse “commissions”.
Fact is: The Fed has thown money on the market as if there will be no tomorrow. Dot.
Fact is: The politicians have forced financing of political correct groups. Dot.
Fact is: They have stolen from everyone and are declaring it as “the-one-and-only-that -possibly-could-be-done”. They are liars.
Guess what with the big-too-fail superstition this will be just the beginning of a crisis. I just can hope the deledefs have to “bail” out themselves. Better sooner than later.
Paulson … do some bells begin to ring if you hear that name?
Glad you’re with me. Yes it the Paulson which demanded 700 billion Dollar. Now sit down, we European can be nearly as good.
The illegal safety chute (illegal in the sense, how I understand the no-bailout clause), was first just 250 000 000 000 EUR heavy.
Now it should be made “permanent” with just the slight increase of another 250 000 000 000. Yes, I got this figures right. We are talking
about half a trillion EUR for helping out the poor deledefs. That’s also roughly 2.7 times the amount the Germans have saved in 2009. Now the Germans are not
known of beeing a third world country, and guess what we are roughly 80 000 000 ( I guess one has to write “poor”) souls. Yes there are somewhat around
320 000 000 European citizens. But AFAIKT there are just a bit over a third of them “net” payers.
However in other words to just save enough for the safety chute the Germans would have to work around 2.7 years for free. And put all their saving in a pot ….
controlled by “Politicians”. Oh no it’s not that we could decide what is done with the money. This is done by bureaucrats and “choosen” defrauders. The same which started all this
misery. Now say something about “soundness”
For those Germans still having some property. Think a few hundreds times before investing in Europe. It may make all the difference….
nobody can beat the USA. The unbelievable sum is somewhere around 14 000 000 000 000 (14 trillions) the new debt every day is a around 4 000 000 000. That are new debt
of around 1 200 000 000 000. And yet it’s not “enough”, As we learned Geither wants the “right” to make even more debts. It’s interesting, a problem caused by too much debt trying to heal
with even more debt. And we are talking about the “official” debts, one can not even imagine the diverse hidden debts. Fact is if the Chinese will start selling bonds, the USA is “finished”.
And yet the live as there is no trouble nearby. They initiate programs which are unpayable. But they still pretend it’s “social” justice. I guess it’s very “just” if we head for another kind of civil war. Not ever in history there was so much debt out there, which lacks nearly any substance. Sure they’ve build houses like mad and what has happened, they are unsellable. There are regions where you can buy a house for few dollards, but after that comes the gruel awakening. You will get taxed, you will get taxed like mad. And this is “just”? California is bankrupt, and still they are doing as before.
I wonder when they will see that debt richness. Some of the deldedefs are dreaming of the “perpetuum mobile”. It does not matter if money is backed by anything it’s just important to throw out even more money at every problem and steal it from every living men in the US. They think people are so stupid to never realize that debt wealth. And yes the grow up there own lower class, because we know democracy is great and equality is even greater one men one vote is the “most just system imaginable”. If it means having the lower class vote for oneself because of benefits…, than it’s an easy deal
Make saving a “stupid” thing, make debts the “real” thing, tax away hard working people and give it to the spongers. And because you do not want to have it that obvious introduce a new bureaucracy which
has to look after the sponger, and say you need this bureaucracy to see that they do not live on expense of the others. This is to keep the honest people calm. Or even better try to make them all addictive. Addictive to the benefits of the great fair nannystate. Give those left right-doers the impression it’s them who are guilty of any poverty and that just the big government can do anything about it.
is in first line stable money. Fiat-Geld has proven that it can not cope with it. Well that’s not suprise for anyone a little bit interested in “History”.
If I have the choice between two beliefs than I’d prefer always “the market” over anythin from the deledes. Just one example on how I think markets get it
“right” sooner or later. The gold price has “topped” all-times highs expressed in US-$ and EUR. And if you see a long-time chart the raising of the gold price has
started in 2006!!!! where obviously a lot of people have recogniced something’s wrong. Maybe they’ve seen the housing bubble starting I don’t know. I just started my gold carreer in
2008 after the FmStg and TARP had started. Now since 2008 the prices has doubled. Is it a bubble? Well might be, however it’s obvious that the fiat-money bubble was
inflated much faster. It seems also that the central banks are intervening to support their Fiat-money. It’s one of the surest sign that something is terrible wrong with currencies.
Unfortunatly one can expect an alliance of Politicians (deledes) and central banks to do whatever they can to disqualify the gold price. The US helds a lonely record on that.
After giving out the bound to gold they “forbid” private ownership of gold. That’s one of the most ridicolous laws ever passed to save the “defrauders” from their fate.
I’d not be suprises if they come along with something similiar in the not too far future. What can one do against it. Fortunatly there are more free countries as anything in the EU or the US.
So it probbably is a very good idea to open an account over there and put something of value in it. The choice which country to prefer is very simple. Those countries which value private
ownership the most are the favorites.