Stacy Summary: Truth About Markets, New Zealand. November 11, 2009
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ref. max keiser & Get 6 mo’s free storage
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Rick Ackerman-
- King World News
- Mish
- Violent Protests in Greece; 6 Cabinet Members Resign; LAOS leader "I Would Rather Starve Than be Under German Jackboot"; Controversy Over Missing Paragraphs
- Merkel's Official Denial "I will have no part in forcing Greece out of the euro"; Schäuble Starts Salami Tactics on German Participation, Calls for Vote
- Karl Denninger – Market Ticker
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crash banksters – Buy Silver & gold
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Most recent: 
I wonder if things would be different if Ady Gil had bought a ship for the Somali fishermen before they discovered pirating.
MIssed this one:
http://www.youtube.com/watch?v=Ikr5_QpdQpY&NR=1
@Jeemobon:
I love South Park.
Well, I have no opinion about the whale wars thing having never seen it, but I found a couple clips here with the bits about paul watson.
http://www.youtube.com/watch?v=5dRbzjUNG2Y
http://www.youtube.com/watch?v=rPwsND3vGNY
“(Remember, too, that only something like 34% of the US population believes in evolution.)”
Belief in evolution is a faith-based choice, a way of seeing, a perspective. One can make perfectly rational and excellent choices, pursue a livelihood, reproduce, and die without ever hearing the word ‘evolution’. One is not a better person, a better citizen, or a better member of ‘the club education’ for an adherence to a perspective. To say so is an attempt to marginalize perspectives that do not agree with one’s own personal biases.
What is meant by the term “magical thinking”? To me this sentence encapsulates the phraseology:
“We are leaving the era of fiat currency and entering the era of hard currency backed by gold.”
According to Wiki:
“In anthropology, psychology, and cognitive science, magical thinking is nonscientific causal reasoning that often includes such ideas as the ability of the mind to affect the physical world (see the philosophical problem of mental causation), and correlation mistaken for causation.”
Taking Wiki’s definition and extending it to economics, the statement that we are leaving one realm and entering another cannot be made by any means except by a wish to call into being the next realm through words or faith in words. The correlation of gold in a previous world where gold played a role as a medium of exchange should not be substituted for causation: there is not now any developed nation relying upon gold as a means of exchange. Indeed, the basis of the exchange system now in operation is reliant upon the leadership and regulatoin of a bank, the IMF/BIS/WorldBank, which uses a currency basket, the sdr, as its basic reserve unit. There is no causal indication presently in occurrence which would substantially back the belief that the era ending will be followed by gold-backed hard currency because the event *worldwide abandonment of fiat for gold-backed exchange* has not taken place and has never taken place unto this date in time.
It is not errant to facilitate belief through the reliance on magical thinking, but one must remain firmly in the realm of religion and not export a hope to others that reality may bend to suit one’s passion or dementia.
Unless Max is a wizard, the hope for a gold-backed substance to currency exchange in future must needs remain at present a hope, and nothing more.
You would think in this day and age that the Japs would have gotten around to ‘farming’ whales, a Japanese friend of mine who got married had as part of the meal a whales penis which all the guests got stuck into, they regard them sort of like swimming cows, I eat animals (particularly fond of lamb) who am I to disagree.
@max. If the gold price reflected it`s true value today the gold mining industry would have enough of it`s profits available for investing in the moral environmental clean up criteria regulated by the gold mining industry .
But this is not the case as we all well know. The availability of unlimited dollars and manipulation by central banks has effectively stopped the price discovery of gold.
When a company ( gold mining / producer ) has a product that sells at below REAL value they cut corners. The first area of the mining business to be CUT is the environmental clean up ( as well as R & D in this area ) as regulators can be encouraged to turn a blind eye.
So, what have we got ? An industry ,that has to realise a profit ,with the true value of it`s product being suppressed . Hence limited resources going into being ecologically sensible.
If ( and when ) true price discovery materialises, the industry will not be vilified as a polluter of the environment but a environmentally sensible contributor to our planet.
Also as gold becomes the true monetary standard this unlimited printing of fiat currencies will cease and the true price of…. well……everything will be reflected in the things we consume , thus slowing down the over-consumption of the global consumer as prices would reflect the availability of all products ( refer to whale and tuna discussion )
Anyway I just don`t see this ( suppression ) ending any time soon
Enjoy the show and vids,
Cheers
I know that I’m a pain in the ass . . . just have to say that I think the “magical thinking” exists, in part, because of the level of inequality we have in this “rich” country of ours. Increasing inequality generally coincides with increased political division. And as we see, EVERYTHING has become political in the US. If one party takes one stance, then the other automatically assumes the other, and the loudest voices prevail (like in ancient Sparta). Those at the top, of course, want to hold onto their power and their wealth, and the least educated amongst us are precisely those who believe most in the myths spun by the corporations. From what I can see, the US is #1 when it comes to corporate PR firms, think tanks, etc. finding new and improved ways to dictate the terms of debate and brainwash the public. And these days, public distrust of government and corporations only HELPS the corporations, because every potential reform is understandably seen as another way to hoodwink and rob the public.
(Remember, too, that only something like 34% of the US population believes in evolution.)
M&S, When I put on my Sea Shepherd Conservation Society shirt this morning I had no idea I’d get to hear them covered on your show today. Thanks. I’m excited about the new ship also. That’s right it can travel fast enough to catch the “hunter” ships, which SSCS has been unable to do previously. They just had to go after the slaughterhouse ship Nisshin Maru.
Like Karmabanque, Watson is trying to destroy Japanese whaling via economics. Sending a fleet of ~8 whaling ships to Antarctica costs something like $1 million per week. By depriving the whalers of 50% + of their catch, they can hopefully bankrupt the gov’t backed company supporting the whaling.
On the Somali pirates/ externalizing the costs of pollution, is everyone aware of the Larry Summers pollution memo?
http://www.whirledbank.org/ourwords/summers.html
Arundhati Roy Part 1 of 2
http://www.youtube.com/watch?v=HmIaX7W-BFU
Hallo M&S
Sorry but i have to say that the quality of your financial information content on the rdu-wednesday show is crashing like the stocks last Oct/Nov
PMF
Pirate My Fish
@Will:
Thanks: looking forward to it.
@Frances – Limericks – they’ll hafta wait cuz I gotta stay in the focus zone today. Mañana…in a jib-jab thread of course.
@Supergeek:
Do you have to take your glasses off BEFORE gazing at the chart or wear them to see FOR gazing at the chart?
@Will:
More limericks?
prettypleasewithhoneyandsugarontop
Seems appropriate somehow right about now:
http://www.youtube.com/watch?v=JvKIWjnEPNY
@Frances – Kunstler comments.
Well, I don’t really “agree” with Kunstler on a lot of points, but his forum is still useful to me to find out what some people are thinking.
I really do appreciate it, that you use words like “Fie!” and that you use the subjunctive mood in English still. But heavy discussions of a philosophical nature during times like these reminds me of The Philosophers’ Football Match: http://www.youtube.com/watch?v=QslXTuhQUCY
…intellectually stimulating, but I’m more interested in discussing the odds on what’s really going to happen. So rather than try to analyze the philosophical derivation of Kunstler’s ideas (which BTW I’m not qualified to do), I’m more interested in how they affect his readers. It’s interesting, for example, that Kunstler continually touts getting back to the US railway system for transport of humans and goods, and that Warren Buffet agrees with his pocketbook.
@Palantiri – tune in tomorrow . . .
@Supergeek: excellent dude…A Tibetan Eye Chart..have been looking for one for years
Oh ooO a third show
great. A special show for the internet audience…what is the special topic?
@Max: excellent dude…”Veblen good”….conspicuous consumption etc….and that was before the MSM media blitz for the last 60 years!!! Mr. Bernace and Marshall McLuhan and the entire Madison Av crowd…did we ever stand a chance against mind control??clearly yes..but shamanism and hallucinogenics may have had an added effect rebuffing the psychotropic pharma concoctions that the laboratories and psychiatry depts. nationwide and worldwide have promoted….
@maxkeriser.com
try this it may help!!!
http://realitygems.com/images/eye%20chart.jpg
@maxkeriser – thanks for that . . . I assume you are the same person as @maxkeiser
Veblen Goods
In economics, Veblen goods are a group of commodities for which peoples’ preference for buying them increases as a direct function of their price, instead of decreasing according to the law of demand.
http://en.wikipedia.org/wiki/Veblen_good
@Will:
“Once we’re rid of all that, we may rediscover a few things left inside our collective identity that are worth regarding with real self-respect.”
One would expect that from Kunstler. The collective identity is a SENSE relative to personal subjective discourse: it is not meant to represent a realized entity. The view of Kunstler aligns itself with Obama’s ‘shared values’ strategy: which is perfectly Hegelian in scope.
” It’s tragic that the avatar of hopefulness himself, Barack Obama, stepped into his role at exactly the moment when this set of conditions was getting traction”
Kunstler avoids pegging Obama with any acts relative to Obama’s personal agency: truly ridiculous. And when was Obama the avatar of hope? Obama was a marketing tool.
There is not an objective collective identity unless there also be a corresponding Hegelian state which would to call the rational into being. Fie that Kunstler relies on the ignorance of his readership in accepting what Kunstler derives his sustenance from and for: the tyranny of the rational state collosus.
@Photoception – funny, but I think I said demand continues to rise despite price rising
@Stacy
“What’s that law that says demand will go down as price goes up?”
The law of supply and demand, lol.
@maxkeiser.com
oops almost forgot… thanks for the download… lookin’ forward to the show!
@Frances – How can you tell from the outside what is going on inside?
It doesn’t matter what’s going on inside if the body is so large that the only activity possible is sitting in front of a TV set.
And over-consumption as an indicator of an inability to make wise choice would, of necessity, marginalize most Americans…
Bingo! Those bodies were built over years of making wrong choices. Their personal choices, not mine!
…from your ideal fellow citizen molde.
??? I’m talking about reality, where things are. I have no IFCM, I leave that to the sleepers.
Abigail Thunderthighs might have good survival skills on a farm. Do you?
Yes, as well as lots of other practical skills which I have worked hard during my entire lifetime to develop. And although I may die tomorrow, I still have to decide what to do today based on what I observe around me. It ain’t pretty. It’s not hopeless by any means, but there will be a lot of hard “lessons” for all of us.
@frances
KI think the term is ‘recession proof’!!!!
@Will:
If you think about it, the fatties have a survival advantage seeing as food will become extremely scarce to acquire in future.
VIDEO: Congressman: Obamacare Will ‘Shred Constitution
http://www.americanparchment.com/video/shred_constitution.html
@Frances – How can you tell from the outside what is going on inside?
It doesn’t matter what’s going on inside if the body is so large that the only activity possible is sitting in front of a TV set.
And over-consumption as an indicator of an inability to make wise choice would, of necessity, marginalize most Americans…
Bingo! Those bodies were built over years of making wrong choices. Their personal choices, not mine!
…from your ideal fellow citizen molde.
??? I’m talking about reality, where things are. I have no IFCM, I leave that to the Republicans and Democrats.
Abigail Thunderthighs might have good survival skills on a farm. Do you?
Yes, as well as lots of other practical skills which I have worked hard during my entire lifetime to develop. And although I may die tomorrow, I still have to decide what to do today based on what I observe around me. It ain’t pretty. It’s not hopeless by any means, but there will be a lot of hard “lessons” for all of us.
Agency, Dedo? I thought I was on a mission with the other insolent know-it-alls! Either that…or worse…something from my childhood imprint…
http://www.youtube.com/watch?v=SnhgpVb-u5s
http://www.eff.org/wp/anatomy-bogus-subpoena-indymedia
gov. IP mining???
@Frances,….Oh,.I make you feel like it huh!,.where’s your agency now, when you need it : )
DrudgeReport currently has a picture of a gold ingot being poured for the breaking news headline, with a link to this article: http://www.bloomberg.com/apps/news?pid=20601087&sid=ap38fF9NrCIM
@Will:
It’s about socio-economic snobbery. Just because someone wears a pirate costume to Walmart does not mean they are incapable of making good personal decisions. How can you tell from the outside what is going on inside? Do you believe as the Victorians did that the physiognomy is an indication of the character of the soul? And over-consumption as an indicator of an inability to make wise choice would, of necessity, marginalize most Americans from your ideal fellow citizen molde. Abigail Thunderthighs might have good survival skills on a farm. Do you?
“@Frances,…you seem to be on a mission to affect other folks lives,..how come?
Are you no different to the leaders of folk, in retrospect.
What is best for someone who has been deceived,be it by, or for themselves.”
Well, the only place I’d like to lead people is to a library. You make me feel like a whoopie cushion!
@Phil
Funny sort of …..
Marshall Auerback says on 8 May 2009: Bernanke has to continue to make hawkish comments about inflation so as to avoid a complete blow out in bond yields, but the the dirty little secret is that inflation is the way out of the debt trap, along with dollar weakness. Both reduce the real cost of debt servicing. http://tinyurl.com/yko4tw6
Noah Rosenblatt says on November 23, 2008 already: “In my opinion, the fed IS printing its way out of a deflationary spiral with hopes to inflate us out of this mess.” http://tinyurl.com/ylc4tc5
I wrote on January 22, 2009: “The will try to inflate themselves out of depth!” http://tinyurl.com/ygtr2ho
@Phil – Let’s look in the mirror, or as Paul Levy says, Awaken in the Dream:
http://www.awakeninthedream.com/html/
How long before we see $1200 gold
This week or next?
http://kunstler.com/blog/2009/11/dreams-die-hard.html
“Well of course, but I think your expecting a bit much from a website. If you’ve worked out a better way to get other people to wake up and think critically than providing an open forum for debate and ideas, then let us all know !”
Do people think critically while reading the whispered allowances at Zero? I only notice parrot squawks and flapping of winged agency to do the bidding of the ‘truth outers’. I don’t expect anything of a web site! Open forum is good! You asked this:
Anyone else reading this?
And I answered you.
@Will
@Franco … Dummheit regiert !
Dumbsh*ts rule ! .. and I mean “us” !
This is important to understand !
How else would we allow such imbeciles to tell us what to do !
Take a look at what Goldman up-to, what does there PR thing they are doing are they crazy?
I cant work them out, maybe they don’t think they are personally at risk and maybe they are right? I feel sorry for them personally.
LOL
Do they think this is clever ?
Do they think they are smart ?
or are they doing this to taunt a bit of a joke or maybe they don’t understand that theft has consequences for all?
At the moment its a joke and long may it stay that way, we hope.
http://fofoa.blogspot.com/2009_11_01_archive.html
@Mother
Do you actually believe that the thugs, thieves and greedy bastards who managed to gain wealth through deception and violence are interested in creating a utopia for the world???
If this was the plan, then why not allow an open and cooperative effort and engage the people in a positive way?
What has and is continuing to take place is massive fraud followed with ever increasing “laws” to restrict individual rights. Our governments have been corrupted and no longer represent us.
If you really believe what you write than you have already been “assimilated” and can no longer question what is right in front of us in clear view. Again, this carbon taxing is an oppressive tax scheme that will do nothing to address our REAL problems.
@Franco – Church rules.
The church still rules, but it’s a church of a minor deity known as Pluto or Mammon. Even Hermes-Thoth has been put underneath this deity!
@Frances,…you seem to be on a mission to affect other folks lives,..how come?
Are you no different to the leaders of folk, in retrospect.
What is best for someone who has been deceived,be it by, or for themselves.
New DVD released “Food Inc”
Explains the governments role in farming,
and big money control.
Strongly recommend !!
http://www.lunch.com/reviews/Food_Inc_on_DVD-Wiki-1429031.html
@Frances – it’s not funny, it’s the State of the Union. As for judgements, yes I make judgements every hour of every day. It is a necessary activity that one must do in order to survive on this planet. Note:
- These people in Wal-Mart are voters.
- They do not think like you do.
- They do not read Zero Hedge or Max Keiser.
- They NEED someone to take care of them.
These are important observations and judgements that have an impact on my future survival. Not just mine, either.
Hi Stacy. How do you know the church does not rule the world today? What makes you think they would give up all that power? ….it wouldn’t surprise me if they own all the multinational corps.
I had to step on my shadow HARD to keep it from running away!
@Will:
very funny
The site is an example of the second paragraph I linked: consumption does not equal meaning of existence. The poor blob-people have no clue. But it is wretched that others stand in judgement: I find the subject to taste bitter. One can be utterly lost in a size eight dress on Madison Avenue as well: the difference and the poke of fun is at the lack of status for the blob-people. Everyone seems happy with elevating the lollipop-man (Buffet) irregardless.
@france snoot
It may be that there are ‘Patriot-Movement adherents in the US’ and ‘Cheeto-munching ‘traders’’ who frequent ZH but the point is anyone ( with an internet connection ) , including YOU , can. And not only can they ‘gobble and consume’ the information they can contribute to the shared knowledge/ideas. ( Of course that doesn’t mean all the knowledge/ideas are good, it just means they are not centrally controlled.)
“The idea that any source fits the above description is naive. ”
Well, I’m not naive enough to believe that a website is a purely open and free medium, but it can be an attempt to get closer to this ideal. Isn’t that why we read maxkeiser.com ? Because it is a far more open and uncensored access to information and ideas than traditional media outlets ?
“Readers that think critically about the material offered and do not gulp words like a tonic would be the enemy of the traditional power structures.”
Well of course, but I think your expecting a bit much from a website. If you’ve worked out a better way to get other people to wake up and think critically than providing an open forum for debate and ideas, then let us all know !
I feel that I can only try and use my own mind to think critically and act responsibly, and I’m glad there are forums in which I can engage with others who do the same.
epha
@Frances – Lots of Tricksters at this American icon, have a look! ;(
http://www.peopleofwalmart.com
Spend some serious time on this site and you may have a completely different view of what the future holds…I had to step on my shadow HARD to keep it from running away!
Stacy…Descartes was the launching pad for the de-formation we fondly refer to as….Modernity; or Neo-Naturalism.. Contra-Descartes….we think because we are not. Cause & effect is a game for morons. Purpose is the quest. The Created can’t stand Not being the Creator.
BTW….Descartes is the Father of INFINITE….we clearly are finite.
Infinite is an “oriental” concept….no beginning, no middle, no end….anything, everything, nothing all at once….strictly Material, strictly Natural. Zero interest rates are a PURE Cartesian fiction. It was Descartes that made this horrid Nihilism we breathe so “extensive”. It was Descartes that enabled so many MURDERS.
Descartes is merely a re-wrap of Averroes & Avicenna…two Musselman; one a Persian. Oddly enough, these two fellahs are the progenitors of “modern Christian” philosophical thought….an importation of Aristotle into the “west” during the Crusades….which Aquinas attempted to mute.
Descartes is a rebellion contra Aquinas.
Children of Descartes…..Bacon, Spinoza, Hume, Kant, Hegel et al.
Lastly….being human is a supra-natural experience; one based on PURPOSE: not a material, natural, social existence based on facts(cause & effect). Our real problems are meta-physical; not political.(that’s how they came to be “political”.)
@Merci
I’m against the way it is approached right now, the priorities are wrong. But if there would be no competition for energy or water or food (which both depend on energy), then why not organize the whole planet to maximize the benefits for all. You see that is the selling point of the malicious people: World peace. They betray themselves by not striving for carbon freedom..
tabula rasa= blank slate
@Dedo:
More snippets about ‘my energy’:
“The disastrous idea that eerything comes to the human psyche from outside and that it is born a tabula rasa is responsible for the erroneous belief that under normal circumstances the individual is in perfect order. He then looks to the State for salvation, and makes society pay for his inefficiency. He thinks the meaning of existence would be discovered if food and clothing were delivered to him gratis on his own doorstep, or if everybody possessed an automobile. Such are the puerilities that rise up in place of an unconscious shadow and keep it unconscious. As a result of these prejudices, the individual feels totally dependent on his environment and loses all capacity for introspection. In this way his code of ethics is replaced by a knowledge of what is permitted or forbidden or ordered. How, under these circumstances, can one expect a soldier to subject an order received from his superior to ethical scrutiny? He has not yet made the discovery that he might be capable of spontaneous ethical impulses, and of performing them–even when no one is looking.” Jung…(pb 267)
Ethics…even when no one is looking!
@Mother earth -”My (somewhat utopian, but certainly possible) take on the NWO http://www.youtube.com/watch?v=xv2jnSMQ2Wk”
How can you possibly see a utopian world based on the clearly malevolent actions of the primary players to date?
Also, this particular utuber has posted numerous vids (such as this one http://www.youtube.com/watch?v=AaLt5jvfh_8&NR=1 that say just the opposite of the one you posted. How do you reconcile this?
Makes no sense at all. I am seeing quite a few people who are suddenly making a 180 and declaring that all this destruction and corruption is really in our best interest.
What?
@Mother,….give it a frickin rest with your climate change bollocks,…
Just let it be, and deal with consequences, oh master of the “uni” verse! : )
did any of yall not see this episode?
http://allsp.com/l.php?id=e191
not sure if the link works –
season 13 “whale whores”
rips up mr watson pretty hard
@Frances,…..Oh,..”Your” energy is it?
Interesting!
Soylent Green is a movie made in 1973.
From the script:
“How can anything survive in a climate like this?
A heat wave all year long.
A greenhouse effect. Everything is burning up.”
That is how prevalent the alarm over climate change was then.
“@Frances,…..you’re gunna die anyway,.might as well utilise the energy,..don’t know what your problem is! : )”
@Dedo:
Have you read the works of Carl Jung? Here’s a nice snippet:
“The so-called civilized man has forgotten the trickster. He remembers him only figuratively and metaphorically, when, irritated by his own ineptitude, he speaks of fate playing tricks on him or of things being bewitched. He never suspects that his own hidden and apparently harmless shadow has qualities whose dangerousness exceeds his wildest dreams. As soon as people get together in masses and submerge the individual, the shadow is mobilized, and, as history shows, may even be personified and incarnated.” (The Arcetype and the Collective Unconscious-Jung-pg. 267)
My energy?
I can recommend the ZeroHedge IRC-channel. Just connect to chat.zerohedge.com and the #zerohedge channel.. marla and the others are there.
@M&S … great chat .. 100% with you.
CNBC – China Hints at Yuan’s Departure From Dollar Peg
… China sent its clearest signal yet that it was ready to allow yuan appreciation after an 18-month hiatus, saying on Wednesday it would consider major currencies, not just the dollar, in guiding the exchange rate.
In its third-quarter monetary policy report, the People’s Bank of China departed from well-worn language on keeping the yuan “basically stable at a reasonable and balanced level.” It hinted instead at a shift from an effective dollar peg that has been in place since the middle of last year.
“Following the principles of initiative, controllability and gradualism, with reference to international capital flows and changes in major currencies, we will improve the yuan exchange rate formation mechanism,” the central bank said in a 46-page monetary policy report….
…
…
http://www.cnbc.com/id/33850971
I think the Patriot-Movement adherents in the US that frequent ‘truth outlets’ sites and the Cheeto-munching ‘traders’ that frequent Zero Hedge are gullible, naive, malleable, and handy. They don’t read with insight but gobble and consume and then run off to their own destruction. The unfortunate ‘truth’ is that the aims of both groups will decimate the US real economy and play completely into the hands of the IMF/BIS conglomerate. The bridegroom is waiting while the handy ones put lipstick on and wear the virginal white and then jump into the arms of their own demise.
“Open-source, uncensored, freely distributed information is the enemy of the traditional power structures. Don’t you agree ?”
The idea that any source fits the above description is naive. Readers that think critically about the material offered and do not gulp words like a tonic would be the enemy of the traditional power structures. Are there any independent readers? I keep hearing, “question everything” from people that question nothing.
@Frances,…..you’re gunna die anyway,.might as well utilise the energy,..don’t know what your problem is! : )
A lot of stories break on Zero Hedge, and they post a lot of interesting analyses. IMO some of it’s good, some of it’s junk. Many comments are also useful, along with the entertaining ones (as they are here on MK.com
).
http://www.zerohedge.com/article/niall-ferguson-and-dollar-margaret-brennan-and-red-dress
My (somewhat utopian, but certainly possible) take on the NWO http://www.youtube.com/watch?v=xv2jnSMQ2Wk
@frances snoot
This is open-source freely available information and analysis, so how can it be some nwo controlled forum ? You are as welcome to contribute, comment and criticise as anyone else. ZH is promoting a distributed information model so no centralised institution ( eg the SEC ) has the monoply on rating financial products. Open-source, uncensored, freely distributed information is the enemy of the traditional power structures. Don’t you agree ?
epha
Last January, NPR had a radio special concerning African biofuels: a way to deliver women from the sex trade.
HAHAHAHAHA
http://www.cpbn.org/program/%5Bfield_episode_cpbi_program%5D/episode/new-energy-programs-southern-africa-helping-women-escap
If the Fed is looking to inflate away problems, what should Asia do?
…
… If stagflation is the goal, why might central banks such as the Fed talk tough about inflation now? The purpose is to persuade bondholders to accept low bond yields. The Fed is effectively influencing mortgage interest rates by buying Fannie Mae bonds. This is the most important aspect of the Fed’s stimulus policy. It effectively limits Treasury yields, too. The Fed would be in no position to buy if all Treasury holders decide to sell, and high Treasury yields would push down the property market once again.
I certainly agree with him. You don’t have to be in the hyperinflation camp like Marc Faber to think the Fed takes Ken Rogoff’s suggestions about 6% inflation seriously. In a May post, I said:
Basically, the Fed wants to inflate our way out of this depression – that’s the dirty little secret. There is really no other policy choice because the mountain of debt in the United States is immense. And I think Bernanke, Geithner and Summers have proven they are willing to do anything to reflate this economy and avoid debt deflation dynamics.
And when I say anything, I mean create asset bubbles that are being given intellectual cover by the likes of Frederic Mishkin. This is a policy of economic weakness.
So what should the Asians do? China is desperate to employ its tens of millions of countryside transplants cruising its cities in search of urban employment. That’s a major reason it keeps its exchange rate fixed to a plummeting dollar, making not just Americans but Europeans irate? Japan has been in a modern day depression for twenty years. Its sovereign debt-to GDP is now over 200%, risking a downgrade.
Xie says the two should join forces – in part as a rejection of the U.S., which he basically calls a fading power (although the paragraph above points to serious weaknesses in China and Japan as well).
Here is an excerpt of Xie’s article: …
…
http://www.nakedcapitalism.com/2009/11/if-the-fed-is-looking-to-inflate-away-problems-what-should-asia-do.html
“…until the old people are gone, then it’ll taste fresher.”
Funny thing about genocide, infanticide, and ‘geriatricide’…the voices of the murdered never cease to affect the conciousness of the planet’s living humans. It’s as though the blood speaks from the ground and the bones walk in vengence.
“Anyone else reading this ? Zerohedge is really like a financial ideas fight club. Subversive and dangerous and fucking brilliant.”
I’m reading this, and I totally disagree. Zerohedge is a mouthpiece for the elite interest in promoting the new international financial market: nwo.
Youri:
True hypocrisy knows no shame. Here is NPR promoting the company stealing the land from the Ghana farmers:
http://marketplace.publicradio.org/display/web/2009/03/18/pm_africa_biofuels/
Here’s the company:
http://www.africabiofuel.com/
The insanity of it all is overwhelming. Direct tie-in to that Copenhagen debacle upcoming. Thanks, Youri.
I think your been had Max:-
http://www.wired.com/autopia/2007/12/around-the-worl/
I can’t see something bulit for lightness being used for this.
Mike
soap
@Max,.apart from the smell of urine, what do old folk taste like,..any idea? : )
The Boat is a blag!
Its a photo chop of a round the World diesel boat!!!!
Mike
http://www.zerohedge.com/article/introducing-darpa
[ open-sourcing finacial market analysis and rating methodology ]
Anyone else reading this ? Zerohedge is really like a financial ideas fight club. Subversive and dangerous and fucking brilliant.
epha
@sam
yes, you will get all the protein you need from soylent green, but it will taste like old people
…until the old people are gone, then it’ll taste fresher.
@sam
yes, you will get all the protein you need from soylent green, but it will taste like old people
@Youri.
Thanks for thoughts on US > Japan.
Is there any way Bernankerooni will crash markets to try to hold up USD? Markets seem to be some weird, completely unrelated 2nd Life money laundering system now. They bear no relation to business reality.
Re: Harrow Stazi.
Thats funny. People ask Police to help when they see graffiti, etc?
Cops won’t do nuthin, the same way the do nuthin now.
‘Neighbourhood waste my policing time’ scheme. The same weirdos will call the cops to get their heater to work
@Sherbert:
http://news.bbc.co.uk/2/hi/technology/8350770.stm
already new concepts for the 2012 Olympics
China Hints at Yuan’s Departure From Dollar Peg
http://www.cnbc.com/id/33850971
If the $DXY continues this drop GOLD IS GOING TO SKYROCKET
U.K. Council to launch neighbourhood Stazi Nazi(09Nov09)
http://www.youtube.com/watch?v=-5aGi0oeZio
@Max & @ Sherbert: as always a pleasant dialog and brief synopsis of the various areas we discuss here on the forum. When is your Where is Kenny Lay? PMF project getting off the ground?? Will you divulge some of the plotline/dialog beforehand?? As the world seems to have accepted the financial corruption as one more event to permit to transpire, what ‘black swan(s)” do you see in the horizon??( other than will we pay 100 gold coins for a tuna??) We await the end of the year and the 1Q reports from all the sectors…as it appears that the retail market may really plummet at years end and once again with the temp jobs ending/then sending the unemployment numbers once more through the roof… as so many hidden feed and taxes are pummeling the electorate/citizenry( and the elimination of the senior SS COLAS )…and the Basel II accords that go into effect in January…how will mainstreet and WS abide by the obvious attempt to curtail the abuses[ while accepting the "jobless recovery" and the limiting number of players in the HFT, naked short selling, hidden toxic asset( aka "waste") bookkeeping,the command and control market]??? With the Senate confounding the scene with Sen. Dodd’s new proposed banking legislation that will have a minor effect on corruption…we might have a total usurpation of the powerful over the debt slaves faster than Spring 2010….Shall we expect another stimulus in mere billions to offset the trillions usurped by WS???? what was that called in the thirties: “throw a bum a dime “???? It seems we are waiting for the zit to pop….when the accountants will have no other choice than to come right out and tell us plainly that the “jig is up” that the many fiat currencies are devoid of sustainance…that the AAA ratings are no more ( I noticed that AMBIC and another bond rating firm are in the news again )…will Britain be the next country to be downgraded…well my take is that maybe after the elections to bring them into the EU…we all know how much average Britons love the EU partners and the assimilation with them…no nationalism there!!!!!!!! that will be deemed as old hat..totally unacceptable…much like the precepts in the US Constitution and the Bill of Rights…very old fashioned..not modern at all…
http://www.change.org/photos/wordpress_copies/animals-in-war.jpg http://www.nataliesreviewofbooks.com/mylondonyourlondon/images/war1.jpg http://grumpyvegan.com/images/blog/IMG_0818.jpg as today is national war day in most English speaking countries or ‘remembrance day , ‘ poppy day ,’ lets not forget our animal friends who really paid the price , the older i get the more i think war is just about justifying peoples stupid , idiot , egos . this is a very powerful war memorial and is dedicated soley to animals killed in war and is located in London. it is the only war memorial i would see fit to personally attend . after the animals pass through space they appear on the other side of the memorial wall. great show, max /stacy , thankyou !
The reason environmentalist groups don’t invest in gold or why greenpeace/wnf is a terrorist organisation and not an movement of solutions; I don’t think if you attack whalers that their government will change policy. Is because all these “non profit” groups are set up by elitists/ford foundation/rockefeller foundation and so on for controlled opposition to divide and conquer. It is just like the policy of the IMF that suppose to increase wealth or the CO2/carbon tax that suppose to stop pollution. Ofcourse these groups have their money in the big banks, duhu…. And a real “environmentalist” (another vague definition; i would define it as someone that cares about the state of the ecosystem) would be not choosing for something better not settle for nothing/less, it is never “good” enough: things can always be better/cleaner produced. Gold like you mentioned has problems as well; if gold mining would be done in a fair trade way, techniques made cleaner etc., and instead of money we use a material that is recyclable/abundant that would be in theory the best; in practise there are always problems and unexpected consequences yet if the process is thought trough properly it can be contained. Anyways your point was spot on; the central banking system is one of the main factors of the bad ecological state, the lack of moral consent of the public is only a reflection of the “environment”/surrounding/selective exposure to information. (also at the forums noticeable with the idiots saying FIRST and even celebrating… as if it matters what place you have; its more important what you have say/share..)
@Mini US
We’ve gone the Japanese way so there is no exit strategy. They can’t stop the stimulus or rase interest rates without direct concequence of an imploding economy more than it already is doing. The exit strategy talk is mere propaganda to give false hope to the dupers who realy think they can control the economy now.
If you wonn know what happens with the U.S. later you just look at what is happening in Japan now: The International Monetary Fund says Japan’s outstanding debt will spiral to 227% of gross domestic product next year, by far the worst in the G7.
Japan’s senior vice minister for the economy Motohisa Furukawa said on Wednesday the government was carefully watching long-term interest rate moves and must be careful to not let rising rates become a trend.
Yields at the long end of the curve have been rising steadily since last month, and the cost of insuring against default in Japanese government bonds has spiked to the highest level since April, after Prime Minister Yukio Hatoyama’s cabinet submitted a record 95 trillion yen ($1.06 trillion) in budget requests for the fiscal year starting in April 2010.
Cabinet ministers are also sending conflicting signals on the need for and the potential size of an extra budget to ensure Japan does not slip back into recession.
Japan ministers fret about yields, clash over spending http://tinyurl.com/y8a8un4
Looks like Warren has had enough.
Its time to act in the US.
He has been talking about this for a long time, now he is acting. Commentating alone will not solve anything.
http://www.youtube.com/watch?v=ukz37ICN64g
I know this Bernanke article is old (July)
It just pays to remind ourselves if his plan.
Bernanke is on the move.
Time to tighten…whatever he has left to tighten I guess.
http://online.wsj.com/article/SB10001424052970203946904574300050657897992.html
Dozens of farmers in northern Ghana claim they have been forced off their land with no alternative source of income after a multinational firm bought their farms to cultivate jetropha, a non-food crop whose seeds contain oil used to produce biofuel. http://allafrica.com/stories/200909080878.html
wont I get all the protein I need from soylent green?
Israeli companies will unveil this month an array of new technologies that will save and maximize use of the world’s most valuable resource… water.
High-flying drones and ocean-bottom tanks feature at Israeli water show http://tinyurl.com/yju4alv
How India’s 200 Ton Purchase of IMF Gold Affects You http://tinyurl.com/ydphtal
Stealthy anti-whaling powerboat http://www.boingboing.net/2009/11/06/stealthy-anti-whalin.html
Ancient weapon discovered in whale http://www.boingboing.net/2007/06/12/ancient-weapon-disco.html
http://www.bankofengland.co.uk/publications/inflationreport/irlatest.htm
http://www.bankofengland.co.uk/publications/inflationreport/infrep.htm
http://ftalphaville.ft.com/blog/2009/11/11/82701/uk-inflation-fan-dango/
BoE Gov says expect ‘short’ spike in inflation, but pressure remains on the downside.
Some interesting talk on the inflation of asset prices and lack of credit going into the economy through bank lending.
(I suppose, why lend it to business if profits are to be made in trading assets).
AM I first ??? yeeee or?