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RT: The Empire of Debt and the Election

Posted on November 3, 2012 by JonK Comment
In this episode of Russia Today’s Capital Account, Lauren Lyster interviews Bill Bonner, author of Empire of Debt. The highlights include:
- Do the statistics and reports generated by the government help anyone determine the real state of the economy? GDP, CPI and Unemployment reports “mean something, but they don’t mean what they say it means.”
- A economic system based on fiat/paper money has never lasted in the past. Ever since 1971, when Nixon closed the gold window, the resources of the country have been used unwisely, investing in programs that destroy the country’s wealth. In order for real economic growth, this practice must be changed so that resources are invested in initiatives that build wealth.
- The outcome of the presidential election will not alter the current course. Instead, the election is basically a contest to determine which group of ‘zombies‘ will get government sponsorship. A Romney win will ensure the military industrial complex stays in business, while an Obama victory will further the social/welfare state.
- The government employing stimulus as a policy to help the economy is ridiculous. Again, it doesn’t help the overall economy generate wealth, it only serves those favored cronies with close ties to those in political office.
This entry was posted in Fiscal Policies, Fundamentals, Gold, Government, History, Politics, Precious Metals, Trading Strategies and tagged Barack Obama, Bill Bonner, CPI, Deficit Spending, Economic Growth, Fiat Money, Fiscal Stimulus, GDP, Gold Standard, Gold Window, Government Spending, Government Stimulus, Inflation, Japan, Japanese Government Bonds, Lauren Lyster, Mitt Romney, National Debt, Nixon Shock, Paper Money, Presidential Campaign, Presidential Election, QE, Real Wages, Resouce Utilization, RT, Russia Today, Unemployment, Wealth Destruction, Zimbabwe. Bookmark the permalink.
Ponzi Economics

Posted on July 26, 2012 by JonK Comment

Casey Research provides a lucid interview with David Stockman, former Reagan administration budget director and author of The Triumph of Crony Capitalism. Stockman explains that in today’s economy, companies are reporting profits today that are “based on a debt-bloated economy that isn’t sustainable.“ Furthermore, “This market isn’t real. … the 2% on the 10 year, 90 basis points on the 5 year, 30 basis points on the 1 year – those are medicated, pegged rates created by the Fed, and which fast money traders trade against as long as they’re confident the Fed can keep the whole market rigged. Nobody in their right mind wants to own the ten year bond at a 2% interest rate, but they’re doing it because they can borrow overnight money for free … put it on Repo, collect 190 basis points on the spread and laugh all the way to the bank.”

“The Fed has destroyed the money market, it’s destroyed the capital markets. They have something you can see on a screen called an interest rate – that isn’t a market price of money…. that is an administered price that the Fed has set and that every trader watches by the minute to make sure that he’s still in a positive spread. … You can’t have capitalism if the capital markets are dead, if the capital markets are simply a branch office (a branch casino) of the central bank and that’s essentially what we have today.”

The 12 members of the FOMC are the western world’s Monetary Politbureau – “monetary central planners who are attempting to use the crude instrument of interest rate pegging and yield curve manipulation and essentially buying debt that no one else would buy in order to keep this whole system afloat. It’s Ponzi Economics!!”

This entry was posted in Fiscal Policies, Fundamentals, Gold, Government, Politics, Precious Metals, Trading Strategies and tagged Austerity, Casey Research, Central Banking, Crony Capitalism, David Stockman, Debt, Debt Slaves, Discretionary Monetary Policy, End the Fed, Entitlements, Fed, Federal Open Market Committee, Federal Reserve, FOMC, GDP, Government Spending, Keynesian Economics, Monetary Politbureau, Monetary Politburo, National Debt, Ponzi Economics, Repo Market, Ron Paul, Unsustainable Debt, Walter Badgett. Bookmark the permalink.
The End Game

Posted on May 31, 2012 by JonK Comment

“We have around 6 months left of trading in Western markets to protect ourselves,” according to Raoul Pal, founder of Global Macro Investor and former Goldman Sachs hedge fund manager. “The problem is not Government debt per se. The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives.“ See entire presentation below.

It’s now more important than ever to protect your hard-earned wealth from being destroyed by inflation or even outright theft by financial and government institutions. Please see our Protect Your Assets series to learn about ways to secure your wealth in the coming economic collapse.

The End Game

This entry was posted in Fiscal Policies, Fundamentals, Gold, Government, History, Politics, Precious Metals, Trading Strategies and tagged Banking Crisis, China, Collateral, Debt to GDP, Derivatives, Economic Depression, European Crisis, European Debt, Fractional Reserve Banking, G10, G20, GDP, Germany, Global Debt, Goldman Sachs, Greece, Gross Domestic Product, Italy, Japan, PIIGS, Protect Your Assets, Raoul Pal, Sovereign Default, Spain, UK, United Kingdom. Bookmark the permalink.
US Debt Now Over 101% of GDP

Posted on May 1, 2012 by JonK Comment

From ZeroHedge: Total US Debt Soars To 101.5% Of GDP.

Total US Debt Soars To 101.5% Of GDP

This entry was posted in Fiscal Policies, Government, Politics and tagged Deficit Spending, Fed, Federal Budget, Federal Reserve, GDP, Public Debt, Treasury, US Debt. Bookmark the permalink.
Ron Paul on CNBC

Posted on April 28, 2012 by admin Comment

Which presidential candidate would you be most be confident would NOT lie to you? Here’s Ron Paul on CNBC taking up the philosophical arguments no other candidates are discussing, including one hell of a debate on gold and the debasement of the dollar with Morgan Stanley’s Stephen Roach.

This entry was posted in Fiscal Policies, Gold, Government, Politics, Precious Metals and tagged CNBC, Debt, Dollar Debasement, Fed, Federal Reserve, Fiat Currency, GDP, General Motors, Gold Standard, Inflation, Interest Rates, Market Economy, Mortgage Crisis, Presidential Election, Ron Paul, Stephen Roach, The Great Depression, Unemployment. Bookmark the permalink.
Government Economic Statistics Are Misleading

Posted on February 5, 2012 by JonK Comment

Dr. Paul Craig Roberts served as the Assistant Secretary of the Treasury under President Ronald Reagan. He should know a thing or two about U.S. economic policy. In this brief and simple article, he explains how government statistics on inflation, housing, employment and GDP have consistently under-reported actual data.

“In place of recovery, we have hype from politicians, Wall Street, and the presstitute media.”

This entry was posted in Fiscal Policies, Fundamentals, Gold, Politics and tagged CPI, Currency Manipulation, Economic Recovery, GDP, Government Economic Statistics, Housing, Housing Starts, Inflation, Nonfarm Payroll, Paul Craig Roberts, Retail Sales, Swiss Franc, Unemployment, US Dollar. Bookmark the permalink.