Debt Rattle Jun 23 2014: The Truth Goes First, Then The Morals


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    Russell Lee Young flood refugee in schoolhouse, Sikeston, Missouri January 1937 Can you see what’s wrong with this picture? Over the weekend, the US r
    [See the full post at: Debt Rattle Jun 23 2014: The Truth Goes First, Then The Morals]


    Asia Times has a good link to Ellen Brown’s website and blog – Web of Debt. She is running for Calif State treasurer with the Green Party. I’ve been very impressed with her ideas.

    Shop till they drop
    Out-of-control central banks have taken to a corporate buying sprees, not to bail out the “too big to fail” bankrupt companies but as investments to offset bond income lost as a result of record-low interest rates. The development is all too alarming. – Ellen Brown

    Buying Up the Planet: Out-of-control Central Banks on a Corporate Buying Spree

    From her article:
    Public pension funds and sovereign wealth funds are well known to be large holders of shares on international stock markets. But it seems they now have rivals from unexpected sources:

    One is China’s State Administration of Foreign Exchange (SAFE), part of the People’s Bank of China, the biggest overall public sector investor, with $3.9 trillion under management, well ahead of the Bank of Japan and Japan’s Government Pension Investment Fund (GPIF), each with $1.3 trillion.

    She also has a great quote at the beginning of the piece.

    Finance is the new form of warfare – without the expense of a military overhead and an occupation against unwilling hosts. It is a competition in credit creation to buy foreign resources, real estate, public and privatized infrastructure, bonds and corporate stock ownership. Who needs an army when you can obtain the usual objective (monetary wealth and asset appropriation) simply by financial means? — Dr. Michael Hudson, Counterpunch, October 2010

    Keep up the great work, Ilargi. I do enjoy reading your blog with my morning coffee.


    As the Worlds Governments conspire against the People of the World, we are surprised?

    Maintenance of power trumps the well being of constituencies every time.


    Hussman,,,” even in the event quantitative easing becomes a more frequent policy”

    It has been all along, and likely will be until the dollar is killed. Waiting for fundamentals to return at this point is waiting for Godot.

    One either missed the ride or didn’t. Wishing for justice in a sea of corruption is a fools errand. And if history is any indication, holding currency isn’t a very good idea either.

    Interesting, though, the 7 year time frame meme first mentioned by Grantham. Negative discounted return and all. I have faith the Fed will bump that up to the 7 or 8 percent historical numbers “expected” by the actuaries of finance. At least “nominally.” 😉

    Makes everyone feel better.

    Meanwhile, how are the grocery, fuel, utility, rent and healthcare budgets holding up? Are they being cancelled by the drop in HD TV prices?


    “But even then, refusing to stand up for your own people crosses a line that frankly disgusts me.”

    Is that what it takes? For me, western foreign policy that trashes entire nations does it. But then we are looking at a long history of ruthless colonisation and extreme exploitation.

    So I don’t really see why you’re so surprised. In the game of foreign policy it’s all about what you can get. There’s alot to be gained by putting in a replacement for Mubarak. Continuous flow of oil for one.

    Long time I go I wondered why the Arabs couldn’t get it together. Well, one reason is the puppets put in place by the west. A few people or a few million people who get in the in the way has never been a problem for the so called civilised nations.

    Shocking to see so many people incarcerated for voicing their opinions. Courtesy of Obama’s arms no doubt.

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