Debt Rattle October 29 2014
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Russell Lee Photo booth at fiesta, Taos, New Mexico Jul 1940 • Fed Set To End One Crisis Chapter Even As Global Risks Rise (Reuters) • How American QE
[See the full post at: Debt Rattle October 29 2014]Re QE: “It has perverted just about all global economies for the benefit of banks and elites. As I said yesterday, perhaps that’s a touch of genius.”
I’d prefer to leave the word “genius” to people who do good, who discover things that are beneficial to society. Really what was done in this case is they lied about their true motives for QE. They are nothing more than common liars, thieves. As J.P. Morgan said: “A man always has two reasons for doing anything: a good reason and the real reason.”
When we start where we are now, considering who ended up with the money, and go back in time, we can plainly see what their intention was. Because if their intention was “not” to make sure certain people got the money, they would have stopped it long ago, but they didn’t. No one stopped them because they said their intention was to help society. It is only in hindsight that we see that that was not their intention at all.
Hard to prove “intention,” and they know this. Every single criminal out there knows this. That’s why criminal court judges follow the evidence to arrive at whether there was “intention” or not. If we follow QE, considering where the money went, who got it, how and why they got it, I don’t think we can escape the fact that this plan was “loaded with larceny” from the get-go.
Larceny – not a touch – but lots and lots of larceny.
Re China’s Shadow Banking Shifted to Insurers – shades of AIG. When it all falls apart, they’ll have to bail out the insurance companies in order to “save the people’s money”. Book it.
Re “Chinese Oil Trader Buys Record Number of Mideast Cargoes” – could this be another case of “traders used single instances of metals cargoes to secure multiple bank loans”? Have they just moved from gold, copper, iron ore, aluminum (a practice which has been recently curtailed) to oil?
“…greater percentages of commodity collateral required to obtain loans, leading in turn to companies using the same collateral to obtain multiple loans.
This in turn feeds into a manipulation of the currency markets to bypass China’s capital flow restrictions and take advantage of currency appreciation. Chinese companies have been using trade finance instruments, collateralised with commodities, in order to invest in high-return shadow banking products, which in turn enable the shadow banks that are issuing them to lend to the real estate sector.
The instruments are commonly traded between entities of the same country in Hong Kong and on the Mainland, in order to make profits on currency rates, using the same cargo all the time.”
Bogus paper, bribes and corruption. How can you believe any figures out of China, let alone anywhere else? It’s “something for nothing” everywhere you look.
Massive pumping of money in China, QE in U.S., QE in Japan, possible QE in Europe, carry trades, cheap money to elites so they can push up asset prices, bad banks, good banks, hedge funds, mutual funds – money circling the world like sharks looking for prey. It just keeps going around in circles.
Here’s a great article re Ebola. Read the whole thing to realize why, once it’s here on any type of scale, we’re done. The people who are receiving care for Ebola have huge resources at their disposal. If this ramps up, that will NOT be available. This guy is a sarcastic writer, but he puts it in simple terms.
“For what it’s worth, the go-to site for constant Ebola updates is Raconteur Report.” The link is given in the article.
He goes into explaining “Why You Ain’t Fixing This at Home”.
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