Professorlocknload
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“At that point you need to rely on the little man inside to raise a warning sign.”
OK, just to be facetious, after pointing out I find it interesting only republicans benefit from Big Energy contributions, even in Blue oil and gas producing states, and among Big Labor energy sector PAC’s. But what else is to be expected of the Brit/US Penny Press?
‘US wealth hits a record’
‘Gas is to be piped backwards to The Ukraine from it’s sources, in Brussels and Washington DC.’
‘EU has so much excess wealth it can afford to piss it away on Ukraine.’
‘US pay’s Ukraine Gazprom bill to Putin, in depreciating dollars, as punishment’
‘US sanctions trade with Russia, except in fungibles like oil and Treasury paper, of course.’
‘Russia discontinues export of AK ammo to the US’ Duh?
‘California is so broke it’s going ahead with a $68 Billion Amtrack clone to connect the metropolis of Chowchilla with downtown Weedpatch 93241, to “grow” State GDP.’
Kinda hints at taking the wind out of the sails of the doom/gloom hit generating meme of some Chicken Little websites. Or has it been jive all along?
A message from the State to “Pay up, or starve?” A manufactured “Crisis” to be used as a smokescreen to cover up a grand social engineering scheme by Central Banking and it’s wholly owned pols? Then, not letting a good crisis go to waste. (Cue Alex Jones.)
Still, isn’t it interesting, how “Municipal Bankruptcy” noise has dissipated along with “House Prices Soon to Collapse?”
Especially in view of multiple bids on homes and grandiose park and public building projects across supposedly insolvent communities. Coupled with the fact every contractor I know is booked out for months.
I won’t bring up the streams of water running down the gutters of lavishly landscaped public parkways and .gov buildings in drought stricken Cali. Really, I won’t.
And “Peak Oil” noise is being drowned out by an even faster decline than anticipated, from “Peak Demand.” Could it be price is finally adjusting consumption to market?
How long will that be allowed to continue, the unauthorized market usurpation of Fed power? I mean, isn’t moar consumption job one of the governmental fighters of “greenhouse gas” and rampant “inequality?” (Buzz words.)
Even the worlds largest single consumer of Oil, the DoD is warning us of certain doom if we don’t allocate our share of consumption to them, because their ships and tanks are environmentally friendly.
Don’t EVEN try and tell me the whole “Warmist” campaign is anything but politics at this point. It’s beginning to look like just another ploy by politicians to seize even more power through taxation. One could think, whether it was real or not, the “Climate Change” gig went from strategy driven to politically driven, so it’s no longer credible.
It’s all BS. ‘The little man told me so.’ So I remain suspicious of any “Popular” ideas and perceptions until further notice.
Not quite ready to run off to the boonies with a suitcase full of fiat to herd goats and swat gnats, wearing coveralls that smell of wood smoke, and boots that track chicken shit into the cabin. But I’m close enough to get there on a bicycle.
@ Gravity,
“Any western politician who rejects crimean secession as illegitimate, while accepting the national coup as legitimate, denounces themselves as authoritarian and antidemocratic.”
One “Honest” Abe Lincoln comes to mind. Seems a long tradition in the USA.
Sans a total nationalization of the US economy, I don’t see the political Fed “Tapering,” as in cutting back it’s life support of now grossly dependent financial markets, until the one market bigger than the Fed cracks.
That be the Bond Market. And I don’t see it cracking until inflation is well on it’s way to a Crackup Boom, the “Crackup” part being exactly that event.
In the days before Moral Hazard, the Bond Vigilantes served the function of keeping the Fed in check.
Now, in a predominantly Fed controlled lending environment, there are no vigilantes left who will fight the Fed, under the threat it might seize ALL debt instruments, from long bonds to credit card debt to junk car loans. That coupled with the fact, no one can compete with the Fed’s manipulated interest rates, further drying up any alternate sources of credit.
Only two directions to go from here. Totalitarian takeover of all credit markets, and Soviet style rule for a couple generations, or default through destruction of the currency.
The manipulators of the cost of capital, the most vital element in the world of markets, have no clue they have destroyed the key price discovery mechanism necessary to the survival of those very markets that feed them.
BP separates on shore from off shore operations?
I think you have it, Jal.
The $15 billion to Kiev from the west along with that Russia is offering,,,will mostly end up with Gazprom, by design.
But it’s not really money. It’s just multi-colored government IOU paper with unlimited sources of supply.
Meanwhile, the illusion of developed market’s expanding growth can remain irrational much, much longer than most Proles can remain solvent. Hell, Japan is still here after 30 years of “crisis.” We only really began ours 6 years ago.
Meanwhile, I guess we can buy Russian energy shares and American defense stocks and join the fun, as Putin trades McCain’s NATO Missiles in Poland, for Russian ones in Cuba, and the EU gradually learns where it’s bread is really buttered.
Still, it might be a good idea to remember what one Hedge Fund manager said a while back, re; reigniting inflation, and the QE’s. Paraphrased; ‘One $trillion didn’t do it, hell, four $trillion didn’t do it. But some trillion someday will.’
Interesting, watching the 4th estate change it’s spots from Dove to Hawk to suit it’s own self preservation agenda. In it’s frantic bid for protection against freedom of information threats presented by the Internet Reformation.
And it’s also fascinating one can now turn to sources like RT and Al Jazeera to temper the din of the domestic MSM.
Aside;
This operation wasn’t about Putin “defending” ethnic Russians. It was about his defending his “ethnic” Russian military bases in the Crimea.
Aside from the fact the pipelines are useless if there is nothing to put into them, having 16,000 troops just down the street tilts the outcome of a Mexican Standoff a bit in Vlads favor.
Something tells me this old KGB Apparatchik is not some sort of humanitarian.
Anyway, it’s over now, as rapidly as it began. There were some efficient military strategists behind the execution of it. It was over before Kerry and entourage could get multiple agency bureaucratic approval and make extensive, expensive travel arrangements.
And American taxpayers are again on the hook.
Sans Europe, this could be a wealthy nation again. Maybe Ron Paul had it right? Bring ’em all home and let the worlds squabbling little Nation States fend for themselves, militarily and financially.
Time for the end of empire.
ps What could Madeleine Albright have to do with any of this? Google around a bit. You might be surprised.
Raleigh,
on Nation States;“All governments suffer a recurring problem: Power attracts pathological personalities.” Frank Herbert
The man on the gas/oil shutoff valve to The Ukraine and beyond, to a most important EU player at this point, Germany, is as Pathological as the drone pilot in Washington DC, who is facing a Congressional election.
Talk about potential economic sanction? Reminds of the “Never Give Up” poster of the heron with the frog in it’s beak, the frog holding a firm grip on the birds throat.
Could it be, Potus is rushing along funds to The Ukraine so it may pay it’s $billions in arrears to Gazprom? Vlad’s pals?
Yup, the grass suffers.
Wow, that didn’t take long! Headline as seen on ZH this afternoon
“OBAMA URGES CONGRESS TO PROVIDE PACKAGE OF ASSISTANCE QUICKLY TO UKRAINIAN PEOPLE; SAYS SHOULD NOT BE PARTISAN ISSUE ON CAPITOL HILL”
East West Proxy War. No more, no less. He who controls Western Europe’s energy supply controls it’s ultimate allegiance.
My guess is, since Putin controls energy “in” at the Russian/Ukraine border, Ukraine proper isn’t in his sights. The low bidder will transport gas and oil through, and he doesn’t need another net debtor protectorate in The Ukraine anyway.
He’ll just let the EU/Yellen and Co. have it, seeing to it that it costs them plenty.
Crimea, on the other hand, offers strategic maritime advantage, so it will remain in the “portfolio.”
Unless, of course,,,https://www.poetryfoundation.org/poem/174586
The yuan as a reserve currency?
The currency of the worlds largest gold producer?
I see that as quite possible in the not distant future. And considering the political mismanagement of a net debt based dollar, even sooner, when all this unbacked world paper is marked to reality.
If not “the” reserve currency, at least “a” reserve one. Especially considering the rest of the world is tiring of living under monetary control of an unelected handful of US bankers.
Interesting how fast things evolve these days. Not long ago the talk was “It will be 30 years before China overtakes Japan as the worlds 2nd biggest economy.”
I remember in around the early 80’s a guy, who was just getting into computer component imports in Silicon Valley, telling me that Free Text Search was coming but not in our lifetimes.
Must have been before Moore’s Law?
“The smart money entered the housing market gingerly in 2011 then piled in helter-skelter over the next two years,”
I might rephrase that to read;
“The EASY money entered the housing market gingerly in 2011 then piled in helter-skelter over the next two years,”
“U.S. deposit-takers invest more in the $5.4 trillion of Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds than in other securities because they carry little default risk,”
Humm, has anyone told them Fannie and Freddie carry only “implicit” guarantees, where Ginnie sports “explicit” ones?
If there is ever to be a .gov default, it could start with these two “F” canaries in the mine.
But, I suppose if you’re too big to fail…
” Remember that a 20% to 30% correction happens every four to five years”
Was that before QE to eternity?
California drought with no end in sight? Connotation of permanence, much?
Maybe someone can find a pattern here, I haven’t tried. https://www.sacbee.com/2013/12/29/6034170/data-viz-2013-likely-to-be-driest.html
Still have 2.5 months of rain season to go, so we’ll see if 13/14 is the all time driest.
Gonna have to leave the climate adjusting to whomever is the Star of the Second coming, if there is one. (of either)
I can say, though, when the Great Equalizers in Central .gov finally lose it, and can no longer subsidize energy and resource waste like they are so prolific at, a lot of folks are going to be moving South and West.
Might even be some people riding bikes again and cutting back their auto use, to say 3 or 4 thousand miles a year, on the one and only vehicle they will own. Some of us cut our energy use back by 60-80% and found we could retire on the savings.
It all started with this simple book, good to see it still in print.
I mean, really, how much ya gotta have?
As I said, when the Mighty Leviathan finally loses it, billions of market players will reset it, sans a scorched earth action on the part of the rulers. Those who aren’t fit or adaptable will be culled either way. Though I prefer natural selection over the selection of Machiavellian psychos.
Interesting, how far we’ve come, from the principal of government from the City-County level, upward, to the consolidation and inevitable commandeering of Central Power rule from the top down.
As someone dear to me who might be reading this once said, “Maybe the Constitution should have begun and ended with “Congress Shall Make No Laws. This Function Shall be Reserved For The Individual States.”
But, as much as I detest the idea, some control frreak will eventually seize government and succeed in Financializing the Climate. After all, it’s about all that is left that they don’t believe they control, no?
Opulent Pyramids, indeed! Political Science dovetailed with Marketing.
“The Clean Water Act,” oppose it and you want dirty water. Never mind it’s really a .gov (registered trademark) takeover of water resources, in an attempt to create a new bureaucracy and taxing authority.
Brings back memories of a train trip the length of Japan many moons ago. In Osaka I was given a choice of smokes at a little kiosk there. Peace, Hope or 7 Stars. Ha! Seben-come-eleben-baby-needs-a-new-pair-of-shoes. Roll them bones.
Ed Bernays would be proud.
Ilargi,
Zinc, tension tamer tea with a bit of honey, and more zinc.
Rest up, we’ll fend for ourselves out here.Raleigh,
If these self anointed bureaucrats really could know what they were doing, most of these “accidents” would ever happen. Or if they did, the Market would correct, purge the inept and leave a lesson learned.
Financial crises only happen because these, or other elitist fools believe they can somehow quantify Human Action, corner it and put it into some sort of Computer program and manipulate the outcome.
Ever try to herd cats? These attempts at centrally planned societies always fail, and always for the same reasons.
The market place is a living thing, made up of millions of individual participants doing what’s in their best interest, and ultimately the best interests of those around them. Any attempt to leash it only distorts it’s function, to no ones advantage in the end.
I liken it to walking through the garden and spotting a trail of ants. Upon putting my foot down on it, the ants first scatter in every direction, confused. Then, one at a time, they establish a new trail around the obstruction, and continue about their business, only now needing to take a bit longer route in accomplishing their mission.
Another analogy is what happened when the Sorcerers Apprentice thought he knew a better way to clean up, just as Central Planners, believing they are so much smarter than all the worlds markets and all of their players, attempt to seize markets and play them to the advantage of parasitical authority. 😉
Imagine the Master as the Market, and Mickey the Fed, if you will.
Raleigh,
Chinese dominoes. The Fed has declared economic war on the Emerging Markets. Those markets to which it has been exporting it’s inflation. Can anyone see a happy ending to this strategy?
Couldn’t help notice, EE Bonds are now paying zirp. Wow, return free risk!
To wit;
https://www.zerohedge.com/news/2013-05-05/ron-paul-house-cards
“Sound money is the bedrock for prosperity and the best check on big government and crony capitalism.” RP
Sound money puts the power of markets back into the hands of the people, where it can be best allocated, at the local level.
caper,
“where are the cheapened dollars going to come from?”
The Fed. Inflation. It’s all they know. Rising rates, when they finally materialize, will be after the fact. Devaluation will have already started and will be building momentum, by the time the Fed tightens. They are always well behind the curve in arresting the bubbles they so naively create.
They didn’t see the stock bubble of the 20’s, the Stagflation of the 70’s, the dot com bubble, the equity and housing bubbles of the 2000’s, until it was too late. Nor do they see the bubble they are now in the early stages of creating. Hell, they never allowed the last one to completely clear!
Nothing new here, they have learned nothing. The Fed will monetize until it no longer exists, or the currency is destroyed or likely, both.
As I have said here before, my bet is on Stagflation over the next decade, with rotating spurts of inflation and disinflation (as opposed to deflation)
This is basically the symptom of an Inflationary Depression. The worst kind. One where prices rise, wages don’t keep up, products begin disappearing from shelves, and the ill advised creators of it prolong it.
Seems to me,
1. Taking on debt for consumption purposes is a bet there will be a Jubilee. In which case no one will need to pay it back.
2. Or, debt is taken on with a plan B intention of personal default.
3. Or, debt is taken on in a buy forward action, with the intent of paying it back in cheapened dollars.
Place your bets.
Though the prudent don’t do debt, unless it self liquidates with a high rate of return, number three is my book.
Certainly, all markers are being called in to the core, there in Washington D.C.
And Argentina is just a symptom of what’s coming to a Keynesian World gone mad.
Thanks Ilargi, guess I’m alive again.
Interesting take on the usefulness of currency traders. My take is they serve a useful function as market makers, That said, probably the last price discovery task they will perform at the end of this sad joke will be the one that marks the dollar to real value,,,zero.
Back in the day, finance served market systems. It was directly answerable to those who used it’s services. Today, under government protection from failure, it has become parasitical.
Creative destruction is prevented from doing it’s work now. The efficiencies of Free Market Capitalism are long behind us at this point. All frivolous consumption is now sanctioned and subsidized by Central Planners. Planners who have no concept of self sufficiency or conservation, EROEI etc. as they have never had to provide for their own livelihoods.
All they seem to “know” is, when they want more of anything, just subsidize it. After all, un-backed currency is now free to them. Never mind every new IOU they create displaces value and efficiency and consumes more real resources.
I’m still not in the deflation camp because I see this ending in a Soviet style command system, where deflation, even if it took place, would never be allowed to be discovered. Really, how many bouts of deflation occurred under Soviet rule or Maoist rule, for that matter?
Again, deflations are the stuff of honest money, and there is little that is honest about fascism (what most socialist experiments seem to morph into) and it’s monetary systems.
The process I see, after being well shaken down by TSA these past few days of air travel is, an offer of, “Hand over your Democracy, and in turn we’ll provide for all your needs.” Nothing new under the sun?
Even though there was deflation during the Great Depression, because the dollar had the backing of gold and silver, it was still devalued against those metals. Today, there is no such repricing mechanism.
Deflation won’t take place until after the currency of the realm, or the realm itself, collapses. (See first paragraph of this comment.)
Wouldn’t a bail in of funds above the FDIC implied insured amount of the worlds reserve currency end it’s reserve status? And wouldn’t that end once and for all, the FRB’s cartel? Why would they do that?
“This is what happens at banks that were bailed out with your money. If you don’t like that, I suggest you say so.”
Say so to whom? To the same corporatist government that has granted these thieves immunity? Shall we demand more “regulation” until the entire conspiracy has consolidated into one giant sanctioned monopoly?
On Ron Paul, may I suggest study of the man, not of the opinions of his frightened political opposition. He has definitely shaken up the comfort level of the Red/Blue status quo.
QE to taper? Not on your life. Taper is talk. I’ll posit, QE is still flying full force under the radar. It had to be pulled from the front page lest questions arise relating to the reasons for it, if everything is supposed to be on the mend.
Hell, the upcoming Neo-New Deal will be a form of QE, stirred with redistribution and a thin veneer of austerity.
Plosser the devils advocate of the month? He probably hit it close.TheseApparatchiks will so overwhelm this deflation scare it will take well into the double digits to REALLY Taper down the line. Of course, it would be prudent to suspect the source of his delusion regarding 6.5% unemployment, maybe?
But, what’s in interest rates anyway, when Her Majesty Yellen believes savers are flexible and can simply re-enter the workforce to supplement their income. Maybe the 80 and 90 year olds could be invited to join the Federal Reserve Bank payroll and enjoy the good life that she is? If not, they can eat cake I suppose.
Elitists all.
Deleted my cooling/warming/cooling comment here. Too much like a religion now. And with the State getting involved, I can’t believe their stats. They are “goal seeking.”
I’ll rest assured, when this dirt ball has had enough of humans, nature will fix the problem. Most likely, Natural Selection will be more equitable than a political solution.
Again, nice composite, Ilargi!
1929 similarities? At the 1929 high, I don’t believe the Dow had just reached highs of 14 years previous, inflation adjusted, as this Dow has now.
I also don’t believe the Central Bankers of the earlier era held a candle to the profligate money manufacturers of today.
If, say, we were at 1982 on this chart, the beginning of the last major reset, who’s to say 16,000 isn’t a “nominal” low point before the next inflationary tsunami? https://stockcharts.com/freecharts/historical/djia1900.html
Devaluations do these things. Maybe 28,000 could be considered more a parallel with ’29, given we are no longer on a gold standard, and Moral Hazard is out of the Genies Lamp? Not a prediction, just food for thought.
Lies, damn lies and statistics. When has authority ever not tweaked stats for political gain? CPI?
Of course, it is a congressional election year isn’t it?
Quinn is spot on there. GDP is a joke as an indication of the health of an economy. I mean, WW III would prolly set new GDP records in the seconds before the grid went down.
Collapse Timing? Good luck with that. The wild card of State owned, produced and distributed exchange medium can throw a monkey wrench into the most cosmic of soothsaying. And inflation is the most common form of “Stealth Taxation.”
El Nino? Better get the Shed roof replaced this summer. Last time it happened, most every Reservoir in California was filled and overflowing.
On Italy. Is that spectacle some sort of sequel to the movie Amarcord?
All said, good work here Ilargi, carry on.
“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
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.”
Fiat money issued directly by government? Great, but let’s wait and see how that works out in Argentina and Venezuela first, maybe. Not sure “official” rates of interest in the single digits will long be able to compete with street rates in the high double digits. Unless enforced by tanks and machine guns. Even then?
Aside from the fact 0.25% might sound high to some?
But yes, everyone would be rolling in dough every election year, for sure. And imagine the wars that could be printed. Hell, we could even take Mexico’s and Canada’s oil. sarc/
The only answer over long term is honest money. We must go back to the days when the government had no money. It belonged to the people, and they entrusted government to use it prudently on their behalf.
And, as bad money drives out good,until the bad becomes worthless, good money will again surface, or at least return slightly under the States radar. It will need to if even the State expects to eat.
The alternative is, of course, a Soviet style economic system where the State makes all the calls, from the creation of currency, to who sinks and who swims. Under those conditions, good money is driven out of the system and the country, so in the end even the 10% gov elite don’t eat. Problem is, it usually takes 60 or 70 years to consume the wealth and come full circle.
In that scenario, don’t expect the appointed “block monitor” to allow you to keep your little survival compound, when he doesn’t have one. Same goes for the tax assessor and his buddies.
Plan Z might want to include keeping an eye on a well found sloop down in the harbor, and enough real goods to set sail for greener pastures, before the fences and gates go up. Or at least a dirt bike or burro with which to probe the many holes in the Northern and Southern borders in a pinch. Might be favorable to living in a maximum security state, demanded by the afraid inmates.
My view is, he who travels light, maintains a personal medium of exchange and remains keenly aware of surroundings will likely be better off for it.
It’s interesting the people I talk to all have one rebut to my suggestions. “It can’t happen here.” Seems they think we are too exceptional, not like the multitudes of exceptional failures that fill history reads.
https://www.goodreads.com/book/show/1575977.Cruising_in_Seraffyn
My bet is, something like, the markets will come down 20-30% and the dollar will be devalued 30-50% and the reset will be complete. Even if it takes wads of free money for all, handed out by the National Guard.
We are not going back to Dow 780 as in 1980. We are not going back to a $1200 VW Bug as in 1960. 19 cent burgers and 5 cent cups of Joe aren’t in our future.
In prices, three steps forward, one step back is how the distributors of the green do things. And if they sense losing it, they will issue new currency (e-money?) in a fell swoop.
Oh, and though we might expect the Inquisition, do we expect gold at $32, Silver at $1, gas at 32 cents and minimum wage at $1.10? I don’t.
But, if Argentina is any example, 65% interest rates aren’t far fetched, even though they’re no bargain.
@Ted,
Re; Roberts’ line in your link,
” The question is: will the Fed let the banks go in order to save the dollar?”Loaded question. The Fed is the Banks.
In the end, these false prophets will be exposed by the fact they can’t print resources. That will be when they hand the day to day operation of the world economy over to their Pentagon Division.
Cornered badgers and such.
A more pertinent question might be, “Who tries to manipulate the gold price when the US financial system is gone?
Or, Au has been around for thousands of years as a medium of exchange. Will the Fed be?
Great article.
However, on Postal savings accounts. Social Security 2.0? The people “Loan” their money to the government through these accounts, whereby con’gress borrows these funds for boondoggle programs and wars, replacing them with Treasury Paper, just like Social Security?
Hell, why not follow one giant Ponzi with another.
Insanity prevails.
If Centralization is a problem, and we advocate the seizure of the banks by the political elitist “Center,” who will divvy up the spoils? Con-gress?
Would we appoint multimillionaires Pelosi, Feinstein, Boehner and Rubio to oversee the redistribution of the debt (Because they have already squandered the wealth)?
The only way to turn this mess around is separate political power from finance, and let finance crash and burn on it’s own. Pull all State protections from Finance and the Consumer, and let the chips fall. Alongside this, reintroduce copper, silver, gold and things real. as money, as intended by the founding principals in the first place.
The individual player* could sort them all out by voting with his-her cash withdrawals and liberty to boycott. May the most prudent and strongest local** banks win. Oh, and anyone who believes political promises such as FDIC and PBGC and Socialist Security are valid, wanna buy a bridge in Mina Nevada?
Cruel, cold, even heartless to some, these thoughts. But if not carried out, we will go into a long miserable stagnation and period of unjust redistribution and authoritarianism, that over the long run is even more inhumane.
* As many of us have already done and are doing.
** When working without a net, savers would hold assets locally, under close scrutiny, keeping capital close to home.
ps. maybe in allowing the truth to be told by letting the inevitable take place sooner than later, consent would be more frugally granted to power in future.
“No, it’s not just around the corner, Phoenix Capital, it’s here.”
Is this a prediction, that this is “it?” Or is this just a dip in a long slow return to hard reality, when the pols finally realize there is nothing they can peacefully do to save their corporate constituents, so turn to the only thing they know?
Trouble with these things is, political solutions tend to aggravate the problem. That’s why they always end in war. And, as we know, wars develop a life of their own once set loose, so outcome is never certain.
Two great examples above, LBG’s Guns and Butter and its effect on Southeast Asia, and FDR needing WWII to cover his ineptitude. The man didn’t end the Depression, he extended it a decade by fiddling with it, rather than just letting it default, deflate and reset. https://mises.org/rothbard/agd.pdf
Bank “Holiday” my ass, he should have left ’em open to the razing they deserved. But then, he had “Power” he had to answer to as well.
Lest I be placed within the Red Pill, Blue Pill paradigm, I have no use for Machiavellian Princes of any stripe, power corrupting absolutely. It was these types that created the protection necessary for these Financial Wizards to destroy otherwise Free Markets in the first place.
Keep ’em coming, Ilargi. A real work in progress unfolding here.
