The New York Fed Confirms the Economy Runs on Zombie Money
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The world is waiting for more of those cryptic messages from the head of the Fed, who today listens to the name Ben Bernanke and speaks on Capitol Hil
[See the full post at: The New York Fed Confirms the Economy Runs on Zombie Money]In other words, while we may have an idea of what’s going on, we dismiss it because it doesn’t immediately affect us. And we have hope and faith in the future. Tomorrow will be better. All tomorrows. Every single one of them.
so true … so sad 🙁
Bennie will need to print money and send it where it is needed.
Municipalities, districts, states are choking on their debts and cannot pay their workers and give the needed service that they have promised.
Banks are terrified that those level of governments will default and stop the cash flow. They have the ear of Bennie. Bennie will listen if he want to keep the system operating for a while longer.
Its a no brainer …
Buy muni. bonds etc., in exchange for cash to muni., this relieves the munis. of having to pay the bond holders.
The cash flow continues from Bennie and everyone is happy.Just because it hasn’t been done before doesn’t mean that they haven’t figured a way of doing it.
Should the Spanish coal miners continue to chip away at their much-depleted deposits? What would Al Gore and Greenpeace recommend?
Is it wise for the Spanish government to continue subsidizing this sacred cow? Is there any other context, apart from the current crisis, in which this discussion could occur?
There is a silver lining here: The disappearance of this one particular coal-dust-laden pie slice, along with 1000s of other fabricated pie slices, has done much to curb the global appetite.
Our sovereign debt crises have done more to realign global wants with Earth-bound realities than anything the climate change campaigners could ever hope to achieve.
There’s an ironic altruism at work here. Lloyd Blankfein wasn’t entirely joking when he mentioned doing the Lord’s work.
Excellent article Ilargi.
autoearthadmin post=4345 wrote: “Blame Greenspan for this S&P 500 effect… it’s his free put,” said Robert Savage, chief executive of research site Track.com and formerly managing director of FX Macro Sales at Goldman Sachs. “Since 1994, the battle of central banks hasn’t been to fight inflation, but rather to smooth out the business cycle and credit. The convergence of global rates and inflation left the decisions of the FOMC as the key variable for S&P 500.”
Uh, not quite Mr. Savage. There is the oligarch run Central State sanctioned narrative and then there is reality.
The central banks have been fighting to criminally take credit exponential to GDP in the United States – a clear violation of Section 2A fo the Federal Reserve Act:
https://www.keepandshare.com/doc/3324744/wmdebt-graph-3-79k?tr=77
Not only do people not value money in the future correctly, they can’t value factual reality that isn’t highlighted in the oligarch controlled main stream media.
This is all a big con game run by the world’s most powerful mob using economic application to roll everyone up into this covert tyranny from hades.
Even worse, the whole monetary system is based upon treasonous societal asset stripping debt based money fraud:
https://www.keepandshare.com/doc/3325954/debt-dollar-tyranny-2-54k?tr=77
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. The one aim of these financiers is world control by the creation of inextinguishable debt.” ~Henry Ford
“Under the Federal Reserve Act, panics are scientifically created. The present panic is the first scientific one, worked out as we figure a mathematical equation.” (Congressman Charles A. Lindbergh, The Economic Pinch, 1921.)
Look how pretty that “mathematical equation” graphs out:
https://www.keepandshare.com/doc/3324744/wmdebt-graph-3-79k?tr=77
“This Act establishes the most gigantic trust on earth.…When the President signs this Act, the invisible government by the Money Power, proven to exist by the Money Trust Investigation, will be legalized.…The money power overawes the legislative and executive forces of the Nation and of the States. I have seen these forces exerted during the different stages of this bill.…” (Congressman Charles A. Lindbergh, referring to the act which established the Federal Reserve. Congressional Record, Vol. 51, p. 1446. December 22, 1913.)
PS – In the context of the criminal exponential debt growth and the criminal insider trading, it makes sense that the insiders would front run a central bank when they knew, in advance of everyone else, that the central bank would come out and “ease” into the world’s largest credit bubble.
At some point, the bust operation goes full tilt… the whole point is to asset strip “Muppets” and kill off their competition.
Viscount St. Albans post=4349 wrote: Should the Spanish coal miners continue to chip away at their much-depleted deposits? What would Al Gore and Greenpeace recommend?
Is it wise for the Spanish government to continue subsidizing this sacred cow? Is there any other context, apart from the current crisis, in which this discussion could occur?
There is a silver lining here: The disappearance of this one particular coal-dust-laden pie slice, along with 1000s of other fabricated pie slices, has done much to curb the global appetite.
Our sovereign debt crises have done more to realign global wants with Earth-bound realities than anything the climate change campaigners could ever hope to achieve.
There’s an ironic altruism at work here. Lloyd Blankfein wasn’t entirely joking when he mentioned doing the Lord’s work.
You are missing some of the context. Blankfein and company criminally blew the world’s largest credit bubble – and that enabled much of the excesses that enslave us today.
Now that he’s cut back a little, he gets credit for doing “God’s Work?”
Uh, no. He’s running a criminal bubble / bust operation and using the climate change agenda to trick people into accepting the bust portion of this criminal operation as being “good.”
You know something is up when the mega banks who created this criminal bubble (and positively correlated energy use) now fund the promotion of reduced energy…
They didn’t blow the bubble because they liked the Earth and they aren’t deflating the bubble because they like the Earth.
Try… because they hate you and want to rob you blind such that you don’t even know you’ve been robbed.
Read Art of War by Sun Tzu:
“War is all about deception”
“The best warriors never have to fight.”
Got that? They trick you… they con you with something like a fraudulent monetary system that systematically conveys monetary wealth to themselves so they can then use the “free market” veneer to seize control of society and its citizens that need a pay check to live
So elementary, my dear Watson. Sooooo elementary. Just open your eyes… it is right there in front of you.
Also “The Ultimate History Lesson” explains much of the greater context:
https://www.youtube.com/watch?v=YQiW_l848t8
You can click through for the rest of the 5 total parts.
jal post=4348 wrote: Bennie will need to print money and send it where it is needed.
Municipalities, districts, states are choking on their debts and cannot pay their workers and give the needed service that they have promised.
Banks are terrified that those level of governments will default and stop the cash flow. They have the ear of Bennie. Bennie will listen if he want to keep the system operating for a while longer.
Its a no brainer …
Buy muni. bonds etc., in exchange for cash to muni., this relieves the munis. of having to pay the bond holders.
The cash flow continues from Bennie and everyone is happy.Just because it hasn’t been done before doesn’t mean that they haven’t figured a way of doing it.
jal, Ben is a figurehead. The MONEY POWER that controls the major multinationals including, but not limited to, mega TBTF&J banks, call the shots and Bernanke knows he best not step in the way of their self interest.
Their goal is not to kick the can until it collapses. That’s economically irrational – and these MONEY POWER people are nothing if not economically rational.
They won’t bail out munis in any serious way, if at all.
As the munis go bankrupt, the MONEY POWER will swoop in and buy up the infrastructure with all our bail out money.
Then they will triple the prices and cut back on services and repair.
How many times have they done this? Watch The Corporation – they even privatized rain water in Bolivia!
This is a criminal bubble / bust operation. The bust has only just begun – and it is every bit the intention of Big Finance Capital as the bubble portion.
This is how they eliminate their competition (anyone not TBTF&J like themselves) and roll up society’s assets under their front corporations and seize control of, frankly, the world – that’s the way it looks now and the ignorance and apathy of almost everyone isn’t much of a road block for them.
BTW, did you watch the Ultimate History Lesson? If so, what did you think?
The Chinese criminals are sucking the lifeblood from that country too.
China’s Fragile $2.2 Trillion Shadow Banking System:
1. The Investment Trust industry
2. Pawn shops
3. Guarantors
4. Underground banks
5. Wealth management products (WMP)Leverage upon leverage upon leverage, sliced and diced and ponzied. When this finishes unravelling, there will be nothing left.
The article highlights David Cui’s (Merrill Lynch China strategist) report.
“Given the shadow banking system’s enormous size, importance to the real economy in terms of the credit it provides, and the numerous feedback loops back into the traditional banking sector, China could face major issues if it starts to look like no one is able to pay anyone else back.”
Trivium – the Ultimate History Lesson is on my list of things to watch. Thanks for posting.
Ilargi – you are a wonderful writer. You have a way with words. Thank you.
Ultimate History Gatto Interview is MUST viewing. First 17 min of first interview is mostly infomercial and can be skipped. Main concise phrase I remember from these is “pragmatic justifiable sinning”. Once this guideline becomes ascendant, everything pretty much turns to poop…which is where we are now. Does anyone know if the Carroll Quigley “Tragedy and Hope” reprint is significantly redacted?
Thanks so much for posting the key elements of this report, as well as the link to the entire report.
I have evacuated the stock market, but am still linked to it through fixed-indexed annuities.
The 4 annuities are indexed to the S&P.
If the index goes down, I lose nothing, and start from a lower level, making it easier for a gain the following year.
If it goes up, I capture part of the gain.
I think this is a good product for a volatile market.
Don Levit
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