Twas’ the day after Christmas – the warmest in U.S. history, which will
only exacerbate an historic energy glut – and not a mainstream “journalist”
is stirring, not one single louse.
No mentions of the California gas pipeline leak, 8,000 feet underground,
raging like a “volcanic eruption” for two months. Nor that Puerto
Rico’s January 1st debt payment, to quote its governor, will be
“impossible” to pay. Or that the Fed, “rate hike” and all, just lowered
its own estimate of fourth quarter GDP growth to a paltry 1.3%;
simultaneous with the Department of Commerce revising lower its May through
October new home sales estimates by a 6% – just as it did last year.
Let alone, GDP “growth” continues to be “led” by healthcare spending, which
“produces” not a thing for America; and defense spending, as America
prepares for World War III – be it in Syria, Iraq, or who knows where.
To wit, the Zero Hedge article title that says it all; i.e., “core durable
goods orders plunge for 10th consecutive month, asdefense spending soars most
in eight years.”
Given the nation’s exploding deficits – look no further than last week’s
historically irresponsible “budget” bill; and what is shaping up to be the worst
holiday spending season since 2008; healthcare and defense may well be the only
“expanding” sectors in the fourth quarter. Or for that matter, 2016
as a whole. That said, I have to give kudos to the Charlotte
Observer, for being the only publication to admit how bad holiday
spending has been – in pointing out that a whopping 90% of U.S. retailers are
now offering free shipping, to “offset weak holiday sales.”
That one damning factoid aside, I don’t see a single mention of record oil
and gas bankruptcies – in a sector responsible for a whopping one-third
of S&P 500 capita spending; or the ramifications of distressed
debt and “leveraged
loan” indices in 2008-style freefall. Or the “coincidence” that
just as China – our newest, most dangerous “competitor” in the final currency
war – sold more U.S. Treasuries (in November) than any month in history;
whilst convincing Zimbabwe to become the first nation to officially adopt
the Yuan as its national currency; America slapped a crippling 250% tariff in
Chinese steel imports. This, as the crumbling Chinese economy was
reported to have a 10% year-over-year decline in “corporate” profits, and a
20% year-over-year increase in debt, from $10.6 trillion to $12.1 trillion!
And given that “journalists” couldn’t possibly understand its
ramifications, not a peep was uttered of Switzerland’s upcoming referendum to
end fractional reserve banking, likely in the next 12-18 months. To
that end, the Swiss National Bank’s credibility is already at an
historic low – having pleaded with citizens to vote “no” in last November’s
“Save our Swiss Gold” referendum, under the premise that it needed the
flexibility to maintain the (economically devastating) Franc/Euro peg; which
it unceremoniously severed, amidst massive currency losses, barely two months
later. Consequently, it will likely have a far more difficult time
convincing Swiss citizens that ending its (economically devastating) banking
Ponzi scheme is a bad thing, so I’m looking forward to seeing how this plays
out, amidst the backdrop of a collapsing European economy, featuring expanding
political, geopolitical, and social instability. As if the Swiss vote
“yes,” it will have a profound, worldwide, Central bank-neutering impact – at
a time when the “need” for (instantaneous collapse averting) money printing
will be perceived to be at an all-time high – amidst a NIRP-infested,
QE-plagued continent already on the cusp of ruin.
To the contrary, care of this week’s blatant, PPT-orchestrated “Santa
Claus rally” – which (temporarily) stabilized collapsing stock, commodity,
and currency markets, amidst a slew of ugly economic data; massive mutual
fund redemptions; the thinnest trading conditions; and worst market “breadth”
imaginable; Yahoo Finance’s “Christmas Top Story” is…drum roll please…“why
stocks are still the place to be in 2016.”
That said, the 15 year process of using unprecedented money printing,
market manipulation, and propaganda to prolong history’s largest, most
destructive fiat Ponzi scheme; first, after it peaked in 2000; and
subsequently, when it broke in 2008; has clearly run its course.
All around us, the tell-tale signs of “Economic Mother Nature’s” inevitable,
unmitigated victory are around us – from exploding debt; to collapsing
currencies; unprecedented commodity and industrial overcapacity; the
destruction of the Middle Class; and imploding real incomes – amidst a
collapsing global economy, historically suppressed interest rates, and an
inflated cost of living. In some place, like Venezuela – hyper-inflated.
However, nowhere is the “deformation”of what was once capitalism seen more
vividly than in the Precious Metal markets, where Cartel-suppressed paper
prices have caused a massive, unprecedented dislocation in the physical
markets where actual metal is transacted. In both cases, 2015 will
represent the highest-ever level of global demand; whilst above ground
inventories are. for all intents and purposes, at an all-time low (and
likely, far lower when considering how much gold has likely been
“double-counted”). Moreover, not only has production already
peaked – in silver’s case, 5%-10% from 2014’s level – but the prognosis for
the coming years is one of potentially dramatic declines.
Moreover, said deformation has unquestionably “peaked” in the media as
well – at least, it couldn’t get worse – particularly in the Western world,
where brainwashed Americans, Europeans, and Japanese still believe their currencies,
which have in a few short decades been dramatically inflated, are money worth
storing one’s life’s savings in; even as their purchasing power implodes; and
the banks they store it in not only pay zero interest rates, but have the
power to “bail them in” when the next crisis arrives.
To that end, gold and silver have many enemies – as they threaten a status
quo enabling the “1%” to garner, and control, the vast majority of the
world’s wealth and power. However, in light of the accelerating
collapse of fiat currencies; and explosion of real money demand; it’s
becoming crystal clear that the “war for minds” is being decidedly lost by
TPTB, and won by “Economic Mother Nature.” To that end, Doug Casey has
done a wonderful job, in thisarticle,
dissecting the pathetic anti-gold propaganda that has mesmerized those
intoxicated with the PPT’s relentless equity market support, and the Fed’s
equally pervasive bond and housing market backstopping for the past two
decades. Heck, people actually believed “you can’t eat gold” to be a
viable reason to not own it during 2001-2011, when prices rose every
single year!
Oh, the Cartel is still at it; more actively, and blatantly, than
ever. However, the aforementioned “perfect storm” of upcoming supply
shortage – much less, as said “final currency war” goes nuclear – has clearly
brought history’s largest, most destructive fiat currency regime to the
brink. And even if it takes somewhat longer to completely break,
the inevitability of the “New York Gold Pool’s” “weakening” – yielding
significantly higher gold and silver prices – has never appeared more
imminent, even if “imminent” itself is difficult to define.
In a nutshell, “gold always has, and always will, win” – which is why we
own it (and silver), no matter what “price” the paper manipulators
orchestrate. In time, said propaganda will be mocked as vociferously as
the anti-gold crowd mocks “goldbugs” today. Who, in reality, are simply
truth seekers, who believe one should be paid something real for their
hard work. As opposed to unbacked promises by organizations
known to have reneged on every promise they’ve ever made.
