The great – and at times, not so great – thing about aging, is that you
get to “study” the nuances of humanity over long periods of time. Yes, technology
advances make it seem like humanity is “evolving” – with no better
example than the futuristic, utopian societies of, where money no longer
exists. However,the reality is – as the French say – plus ca change,
plus c’est la meme chose. I.e., the more things change, the more
they stay the same. Thus, as positive of an impact as technology can
have on our lives, the “flip side” is equally negative, in that it
“leverages” humanity’s dark side.
No, Warren Buffett, we don’t live better than John D. Rockefeller due to
the internet – particularly because, care of the same money printing that has
made you rich, the cost of living has risen exponentially. And
since fiat currency regimes are inherently Ponzi schemes – which must grow
larger to survive; let alone, in a world experiencing parabolic population
growth, and increasingly scarce resources; the cost of living is about to get
A LOT higher. So much so, that it is a mathematical certainty that the
“money” underlying the global economy will be dramatically devalued. To
that end, most nations have already seen this occur, in spades; whilst
for the rest of us, the “frog in a pot” inflation that has plagued our lives
for decades is about to boil over into a seething, simmering kettle of
monetary hell.
When all is said and done, I will look back at the efforts I put in to
educate people of these truths with pride – knowing I have done everything
possible to help others. As will Miles Franklin, in not only supplying
one of the industry’s best – and most prolific – sources of free information,
but knowing it took care of its clients when they needed us most. And never
will they need us more than now, as the end of history’s largest, most
destructive fiat Ponzi scheme – when the “powers that be” are using every
manner of economic data and financial market manipulation; coupled with
historic propaganda; to “kick the can” the last few feet; in doing so,
enriching “the 1%” at the expense of all others. In other words, “peak
monetary stupidity” – which, as the superlative form of a scenario that has
ended badly in each of the hundreds of instances throughout history it has
been attempted, will not just end badly, but sooooo badly.
I mean, you’d think that after three years of being told the economy was
“recovering”; three years of promises of monetary policy tightening –
including higher interest rates, and an “exit strategy” from the Fed’s
gargantuan $4.5 trillion balance sheet; and three years of promised
reductions in the national debt, to name a few broken promises; that at some
point, the propaganda machine would break down due to ineffectiveness.
Unfortunately, this has not been the case – as clearly, the 99% have been so
dumbed down, and addicted to printing press funded entitlements; and the 1%
so entrenched in efforts to maintain a self-destructive status quo, that the
game has continued long past its effective lifespan. Which fortunately
for those hedging against said certainty, only strengthens our will to
fight to the monetary death (theirs). Conversely, it is unfortunate for
the majority of mankind – who will not only suffer the consequences of
increasingly draconian governments, but fiat currency collapse without
monetary lifejackets.
From my standpoint, “peak monetary stupidity” is upon us NOW – and
frankly, I don’t expect it to last long; as sometime soon, all facets of “the
game” will break down simultaneously – from the propaganda, to the market
manipulation, to the money printing. Watching the past two days’
maniacal efforts to cap Precious Metals’ post-NFP rebound, for example;
whilst the MSM attempts to justify why the Fed’s actions, and inaction’s, are
bullish for stocks and bonds, yet bearish for gold and silver;
depicts, in my view, just how close we are to the end game.
To wit, yesterday’s Janet Yellen “speech” in Philadelphia – which, in
today’s new “peak stupidity” paradigm, was utilized as yet another “tool” to
manipulate markets. I mean, how many times can Fed governors speak of
their “confidence” in the “recovery,” contrary to essentially all data
screaming otherwise? And why on Earth would anyone listen to them, when
they have been so miserably wrong, for so incredibly long? I mean, just
last month, the FOMC “minutes” supposedly guaranteed a June rate hike (even
though the actual FOMC statement couldn’t have been more dovish). So
much so, that “markets” supposedly sold gold off $100, despite the fact that
even if rates were to be hiked – which I all but screamed would not happen –
there is not a shred of historical evidence that this would be “gold
bearish.” Let alone, the most recent history.
Well here we are, one trading day after the worst NFP report in
memory, and we’re to believe the “stock whisperer” herself is going to make
everything right, by simply stating the same meaningless platitudes that she,
Ben Bernanke, and Alan Greenspan before her have done throughout America’s
slow motion train wreck of the past 15 years. I mean, she actually said
– one day after the Labor Participation Rate hit a 40-year low, as the Fed’s
own labor market conditionsindex plunged at its fastest pace in seven years –
that labor market “slack” was close to being eliminated. Not only that,
on the same day that the UK “leave” faction took its largest yet polling lead
over the “remain” side, she espoused that “international headwinds were
starting to subside.” To that end, I won’t even mention Tawian posting
its 16th straight monthly export plunge whilst here speech was
being given; or heck, today’s only other material news items; 1) Gallup’s
Economic Confidence poll remaining at its post 2008 low of -14; and non-farm
productivity plunging, whilst labor costs (employer costs, not employee
wages) surged; i.e., stagflation!
As I wrote yesterday, the “bass-ackwards”
commentary surrounding such monetary mockery is simply astounding, in not
only trying to maintain the ridiculous assertion that the Fed knows what it’s
doing, but rationalize record high stock and bond valuations – and
conversely, record low Precious Metal valuations – with every imaginable
propagandistic tool available. Heck, Bitcoin broke out last night to
$595, and the Wall Street Journal’s response was that “no one cares,”
so it “has no future.”
I mean, is anyone in the media; or on Wall Street (which is also
amidst a major earnings recession), still living on this planet? Do
they not experience the same exploding healthcare, rent, education,
insurance, and now gasoline prices as the rest of us? This, with
interest rates at record
lows! To the end, do they not see corporations of all kinds deep
discounting, closing stores, laying off employees, and slashing salaries,
benefits, and even their own investments? Do they not realize that
whilst rent prices are at all-time highs, and rates all-time lows, that home
ownership is at multi-decade lows? Or that despite the lowest
“unemployment rate” in a decade, labor participation is back at mid-70s
levels? Along with – care of Fed-fostered inflation, and the loss of
our nation’s manufacturing base – the lowest real wages, and median household
income, in decades? Do they not realize that the once noble professions
of medicine, law, and banking have been decimated by inflation, corruption,
and…Obamacare? Or that the “ultimate
end game of Communism” is not just overtaking “third world nations,” but
the Western world itself? Which is probably why extremist political
movements, which by nature promote social and economic instability, are
overtaking the planet – including here in the States, where incredibly,
Donald Trump is the Presidential front-runner?
Thankfully, the “alternative media” is alive and well; such as the Miles
Franklin Blog, whose raison d’etre is helping people understand
why they need to protect themselves from what’s rapidly approaching.
Which is, the unprecedentedly hideous ramifications of peak monetary
stupidity; which, in my view, will be an irreversible worldwide phenomenon
far sooner than most can imagine.
