Debt Rattle Feb 8 2014: A Third Dimension In Fraud

 

Home Forums The Automatic Earth Forum Debt Rattle Feb 8 2014: A Third Dimension In Fraud

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  • #11180

    National Photo Co. “Two B&O freights wrecked in head-on crash at Laurel, MD switch” July 31, 1922 The scope of fraud, corruption and manipulation, as
    [See the full post at: Debt Rattle Feb 8 2014: A Third Dimension In Fraud]

    #11183
    pipefit
    Participant

    Raul quoted Spiegel, “India’s central bank raised interest rates higher than expected in an effort to get massive inflation under control.”

    The USA continues to export high rates of inflation by the mechanism of owning the World’s Reserve Currency. It won’t be long, however, before those high rates of consumer price inflation reach the USA, followed shortly thereafter by hyper inflation.

    The underlying cause of collapse of the financial system is the fact that we passed peak cheap oil ten years ago. Even with gasoline consumption steadily dropping for years in the world’s biggest market, the USA, the price of crude remains high. With each passing day, the percentage of legacy cheap oil in the world’s supply mix drops a little bit more.

    Regarding India’s (and Turkey, South Africa, etc.) decision to raise interest rates to fight inflation, the USA does not have this option. I have posted at TAE several times references to John Hussman’s ‘liquidity preference’ charts. Suffice it to say that the fed cannot raise short term rates even 25 basis points without first tapering to zero QE, THEN, IN ADDITION shrinking base money by about $1.5 trillion!!! So, obviously, raising rates here is not an option.

    Their only real option is to manage the economy in such a way that it does not grow at all, thereby taking some of the pressure off longer term interest rates. You can clearly see this is in play in the percentage of adult Americans with a job, now at multi decade lows and dropping.

    #11184
    John Day
    Participant

    @ Pipefit
    Referring to Holmgren’s “nested scenarios” in his Crash on Demand essay, there is little that individuals and small groups can do, other than exercise the “Lifeboat” option of making little permaculture sites, requiring as little external input as possible, and buffering water, fuel, food and currency a bit.
    With peak cheap fuel a memory, and consequences inescapable, we should look at the forest. Each dying tree has a story, too, of course.

    #11186
    Professorlocknload
    Participant

    Dishonest Money encourages fraud? Now, who coulda knowd?

    I’ll venture, fraud has always been present in “Absolute Power” structures. It’s just that now, with the Freedom of Information Act and the Internet Reformation, it’s more visible.

    And yes, it exists all the way down to the “Local Level.”

    #11187
    Professorlocknload
    Participant

    “Their only real option is to manage the economy”

    My rendition of that would be;

    Their only option is to maintain the illusion of an economy managed, until they are exposed as the frauds they really are.

    As each day goes by, the productive ability of what’s left of the market economy is diminished by .gov interference. It is all going the wrong way.

    Here is the order of the unwind. Where are ya’ll in the pyramid? Mutual Funds are also there somewhere. I put them between MBS and Small Business.

    https://www.zerohedge.com/news/exter-inverted-pyramid-refresher

    #11188
    rapier
    Participant

    In regard to Zero Hedge I am falling victim to my own conspiracy theory of sorts. First off Tyler Durden is the name of Brad Pitt’s character in Fight Club and is used as a pen name by various people who are the sites editors. My theory which is not quite a conspiracy is that Zero Hedge acts as a conduit for ‘modified limited hangout’. If you don’t know the term see here.

    https://en.wikipedia.org/wiki/Limited_hangout

    As to the editing of the site ,which means what points of view it seeks to advance, when it comes to politics it is to me profoundly reactionary. Essentially they always show absolute contempt for all standing politicians, except Ron Paul. It’s fine to hold some contempt for all politicians, especially Ron Paul, so to me the sites point of view is odd if not highly suspect. Many linked articles are good and contain good info but the greater purpose of the site is rather mysterious.

    Then too its impact on the broader public conversation, the media one, seems to be about zero. Which is where my modified limited hangout theory comes in. The cognoscenti get to understand how the world works and it filters down, slowly, sans outrage.

    #11189
    John Day
    Participant

    @ Rapier
    ZH started much smaller than it is now. When I started looking at it in spring of 2008, it was seemingly smaller than TAE, but by fall of 2009, ZH had a lot more firepower. Something happened. ZH was suddenly posting news before Google News. ZH had funding, personnel, connections. Something big had happened. Funds from somewhere.
    The bent is somewhat Libertarian, but the Tyler Durdens don’t seem to have ulterior motives that I can discern. It may well be that ZH readers are watched by the NSA, in some way. TAE readers must be tarred by that same brush.
    Here’s the mother lode of 5 sigma from the mean news: http://www.rense.com
    I gotta be on a special bad list for looking at Rense, you too, now.

    #11190
    rapier
    Participant

    Ulterior or not, their motives don’t seem to even hint at good ones. Whatever it is, they’re against it, except Ron Paul. Ron Paul!

    All in all ZH is an odd sort of thing coming straight out of the heart of the beast, The Street.

    What happened by the way was the crash of 08.

    #11204
    pipefit
    Participant

    @john-day’ Perhaps you saw my post on Nicole’s article about Holmgren. Permaculture could potentially add many tens of millions of acres to the category of highly productive land.

    Unfortunately, we’re stuck in this mode of maintaining the current, cheap oil based system. The various manifestations of fraud that are listed above are just part of the story. The biggest fraud of all is the fiat currency systems, where money is created from thin air, and then can be used to purchase real goods and services.

    Fortunately, at least some of the problems can be fixed fairly easily. For example, food stamp recipients could be ordered to attend a gardening or permaculture class concurrently with receiving benefits. No class attendance, no food stamps.

    #11209
    Raleigh
    Participant

    “Foreign-exchange options are the latest issue to come under scrutiny. These contracts, which banks often sell to clients, pay out in the event that exchange rates reach certain levels. […] Behind the scenes, though, banks often buy or sell currencies aggressively to prevent those levels from being breached…”

    “Crime unpunished is crime multiplied.” (Saying) Are the elite having a field day, or what? Robbery without the guns and ski masks. No jail time and no lopped-off limbs or digits.

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