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The Zero CurrencyTom Cash Not only are they not electing to go down with the ship that they have steered like drunken sailors, but they are throwing widows and orphans and pension funds out of the lifeboats to make space for themselves. If there was anyone who was still not aware of the egregious, self-interested bastardry of the elites who run this country, then the mask is now off. Wall Street put on party hats, waved their arms excitedly in the air and pumped up the DOW for a record increase. Enough of them seemed to really believe that the bad news is all behind us, and that the 24 hour a day, every day, party can continue its merry excesses. The party pooping reality is that the DOW is now set up for the biggest fall in the history of Wall Street. Gold has finally achieved a dignified serenity and continues to glide upwards, un-phased and unimpressed by the drunken revelry surrounding it. There is no looking back for gold now. Just make sure that yours is not in ETF's or stored in banks. That will all be confiscated. There can be no doubt about that any longer. Bernanke and Paulson are seemingly keen to disprove the predictions of D.R. Schoon's seminal work 'Time of the Vulture' with a theatrically amusing rendition of 'Time of the Headless Chickens'. Not so long ago they advised the Bush administration to give people a $600 cheque to get the economy going again. On Thursday Paulson announced a plan to bail out everyone who is important (one degree of separation from the elite), in order to get the economy going again. Who will foot the bill? The same mugs who received the $600 a few months ago. A $600- cheque in one hand, an $18,000 bill in the other. Wow, that's a deal. How can giving someone $600 and taking away $18,000 from the same person both be good for the economy? Oh, I get it. The ham duo of Bernanke and Paulson who were paraded as the Best and the Brightest have been exposed as Dumb and Dumber (no prize for guessing who's Dumbest). But despite all that, we can remain calmly reassured by the knowledge that we are not in a recession. Thousands of formerly middle class families, now residing in Tent Cities, are claiming that we definitely are in a recession. This is belied by official government statistics which decisively shows that, not only are we not in a recession, but the occupants of Tent Cities don't really live there at all. How wrong can those losers in Tent City be? Let's face it, when we can afford to house rats and stray dogs in new, three bedroom, three bathroom homes, things can't really be that bad. I should also point out that when I was a child I used to spend two weeks out of the year in a tent with my family, and we used to consider it a well earned holiday. A recent report by the US Department of Housing and Urban Development noted a 12 per cent drop in homelessness across the nation. Well there you are, they're not homeless, they're on holiday and probably having the time of their lives.
There is certainly a strong case to be made that a lot of our 'troubles' are simply conjured up by people attempting to manipulate official figures by pretending to be poor and homeless. Some even pretend that they cannot afford to feed their children when the CPI clearly shows a very modest rate of inflation. The vast corporations, who are broke, are buying other corporations who are also broke, all in the interests of 'stabilizing the markets'. That is the sort of attitude that will turn the country round and get the stock market booming again. Closing down businesses because they are bankrupt and putting a 'For Lease' sign on the door is a selfish action that does nothing to stabilize the economy. How can people have confidence if everyone who has gone broke simply shuts the door and walks away from their businesses? If everyone indulged in that sort of laissez faire behaviour then one day we really would end up in a recession. *** Meanwhile, US diplomacy is still alive and well. The Pakistanis objected to US military incursions into their northern territories. They threatened to retaliate. True to their word on 15th September they opened fire on US helicopters that crossed the border at Angor Adda. The two choppers hastily withdrew. U.S. and Pakistani military both denied the account, but Angor Adda villagers and officials confirmed the incident. On the 19th September top US military chiefs flew to Islamabad to talk things over. No dice said the Pakistanis. The next day (as of writing) a huge explosion outside the Marriott Hotel in the capital has killed scores (probably hundreds) of people, engulfed the hotel in flames, and served as a timely reminder not to mess with the Empire. A BBC report, put out within minutes, stated that the attack bears the hallmarks of Al-Qaeda, and: "... the attack is without doubt the most serious in the Pakistani capital to date and will spark fears about the country's stability in the face of a growing Islamist insurgency." Quite. Now the Pakistanis will suddenly come to the realization of how much they really need the help of the Americans after all. The British used to call it 'Gunboat Diplomacy'. Much further down the BBC report it adds: "The White House condemned the attack and said it was "a reminder of the threat we all face". The US would "stand with Pakistan's democratically elected government as they confront this challenge," the statement added. UK Foreign Secretary David Miliband called the attack "disgraceful" and said it would reinforce Britain's resolve to fight violent extremism with Pakistan. The bomb attack came just hours after Pakistan's newly installed President, Asif Ali Zardari, said he would not allow Pakistan's territory to be violated by terrorists or foreign powers fighting them." The hypocrisy is so bad that I am forced to go for a beer and cigar at this point to settle me down. What a horrible bunch of scallywags have been placed in positions of power in this country. People who have no agreement with the sanctity of human life. People to whom all others are merely an expediency on the road to their own personal, weird goals. *** And still within America the complete nonsense that the whole problem is caused by the 'mortgage crisis' persists. This debacle has nothing to do with the mortgage crisis. It has nothing to do with the derivative disaster. It has everything to do with the fact that the US$ had been treated disrespectfully by Ben Bernanke and his predecessor Alan Greenspan. Neither has ever held a real job in their lives. They are academic groupies who have fumbled and bumbled their jobs so badly that they have destroyed western civilization. The latest expropriation of taxpayers funds does not change anything, except to yet again make the situation even worse. The US$ has been treated as a plaything of the elite. No longer backed by gold, it became backed by confidence in those who wielded the strings at the Fed and the Treasury. In August of 2007 that confidence was publicly shown to have been misplaced. Now in September of 2008 it is completely gone. The formation of the Federal Reserve Bank in 1913 was a failed idea from its inception. Why has the system collapsed now? Because the real value of the US$ has finally reached less than zero. At the highest levels this is now realized. When Joe and Suzy Lunchbox, the only people who keep this country going, realize that fact (they came close enough for both Bernanke and Paulson to wet their pants this week), then the game is over. The grand experiment in freedom that was started in 1776 is now entirely destroyed. The structure for what follows is already in place. Will our elites be allowed to get away with that as well? Sep 20, 2008 Tom Cash is a business person and investor and the trustee of an Australian pension fund. Copyright ©2008-2010 Tom Cash. All Rights Reserved. 321gold Ltd |
