Friday, September 19, 2008

This guy predicted the carnage last friday

Systemic Failure of the United States- Game Over

Another chilling article from Jim Willie. A must read.

Posted by sold 2 rent 1 @ 12:54 AM (1424 views)
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14 thoughts on “This guy predicted the carnage last friday

  • “Hidden inside the AIG bailout funding package, surely hastily cobbled together, but carefully enough to include a totally corrupt clause, was a handy dandy clause that permits raids. The conglomerate financial firms are permitted at this point to use private individual brokerage account funds to relieve their own liquidity pressures. This represents unauthorized loans of your stock account assets. So next, if the conglomerate fails, your stock account is part of the bankruptcy process. Finally the corrupt USGovt and corrupt Wall Street houses are desperate enough to put into policy, stated by the US Federal Reserve, outlining the authorized raid of your money. “

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  • A major financial disaster could happen in the next 7 weeks (as the fifth night ends Nov 13) or it will be delayed until spring 2010 (mid-point of the sixth night).

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  • planning4acrash says:

    Next it will be pension funds and then gold stored in bank vaults, goldbugs beware! Clearly, this is being used to pass through deregulation, protectionism and consolidation/monopolisation that could never have been achieved or that would have taken a generation to create during economic stability. This is an economic war and economic martial law has been declared. This means that government have handed all powers to central banks and regulators to do what they please to “solve” the crisis. All constitutional or other legal restraints are currently suspended. Order out of chaos, orchestrated boom, orchestrated crash. So, peep’s don’t put your excess money in their banks so that they can leverage and risk it thousands of times over. Remember that a £10 deposit of yours can be used by them to create £1000 in loans, that will then be leveraged again and again. Same with debt. Just use banks for being paid and for electronic payments. Keep your money in real assets, gold coins and a wad of cash in the house save, if you really want to fight the system.

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  • Deregulation AND protectionism? I thought libertarians were all for deregulation? As for government handing power to others, isn’t this the small government that libertarians want?

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  • Some consistency, please. You can’t bang on about a free market then complain about deregulation. You can’t bang on about small government and then express horror when the government ‘lets’ two banks merge.
    You don’t get to whinge about how the evil Fed is a private organisation and then complain about nationalisation.
    Funny how the very people chanting the mantra of personal responsibility never seem to accept that their ideas are at fault – you know, ‘it was government intervention, x, y and z social programs FORCED the banks to lend to people who couldn’t pay back’ etc. etc. ad nauseam.
    Free market capitalism, globalisation and deregulation in the modern world lead to big, selfish corporations – get over it or come up with something else.
    Adam Smith wasn’t a soothsayer – he didn’t see modern communications, transport, advertising and marketing coming, so, surprise, surprise, his ideas weren’t perfect.
    The reality is that our current financial system EVOLVED into the way it is because it works best that way for the private businesses that run it. It is a result of laissez-faire capitalism. Any attempt to institute anything else is (and would have been) government intervention, the very thing that libertarians supposedly despise.
    Funny how anyone suggesting that the influence of society may have something to do with an individual’s decisions gets called a sandal-wearing pinko liberal, yet at the same time, the idea that all our problems are solely the fault of government and the elite is at the forefront of conservative thinking. Ironic?
    Please, give up on the whole ‘this isn’t real capitalism’ nonsense.

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  • S2R @2 I think that is what might have happened to my ETFSs which are still frozen.

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  • mountain goat,

    There is no substitute for holding physical gold/silver.
    Although getting hold of silver is a problem.

    A notice on Kitco.com’s website

    “The following products have been temporarily removed from our Precious Metal Store until further notice due to production and delivery delays that retailers are currently facing; 1 oz Gold bars, 1 oz Kitco Gold bars, 10 oz Gold bars, 1 oz Silver Eagles, 1 oz Silver Maples, 1 oz Silver Philharmonic coins, 1 oz Olympic Silver Maples, 100 oz Silver bars and 1 oz Palladium Maples. “

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  • It applies to soft commodity ETFS too. I consider myself warned and will aim to get out of all this paper in the next few months when things get back to “normal”.

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  • planning4acrash says:

    Shipbuilder. You are right and wrong. With fiat money, you have imbalances that have to be regulated to moderate the oligarchy that ultimately occurs. These regulations generally are not needed, or are not needed so much, if you have sound money and free markets. On the other hand, get rid of regulations and maybe the fiat system will come down and free markets will evolve? That would be a painful transition, that will tend to have anarchy as the transition, and anarchy tends to lead to oligarchy! You do always need constitutional restraint on government.

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  • Mountain Goat – read my post from yesterday about ETF and ETCs, it explains what is happening – I wrote it up for you

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  • Thanks Beartil2010 I hadn’t seen it earlier. My conclusion remains the same though, I suspect in a few months when the dust is settled it will seem like business as usual and I will be making my exit from these investments. There I was thinking agricultural commodities “can’t go wrong”. At the end of the day everything comes down to trust and confidence in the person you are doing business with. As this is deteriorating everywhere, diversification is becoming more important than ever. I am glad I have no mortgage or debts, but in some ways I would gladly swap all my assets for the deeds on a house that was paid off. The threats to fiat money itself are very high. However, even a house can burn down and who would feel 100% secure of insurance in this climate?

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  • I see gold and silver ETFS are trading again, but not the softs.

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  • 10. planning4acrash said…

    “Shipbuilder. You are right and wrong. With fiat money, you have imbalances that have to be regulated to moderate the oligarchy that ultimately occurs. These regulations generally are not needed, or are not needed so much, if you have sound money and free markets. On the other hand, get rid of regulations and maybe the fiat system will come down and free markets will evolve? That would be a painful transition, that will tend to have anarchy as the transition, and anarchy tends to lead to oligarchy! You do always need constitutional restraint on government.”

    I don’t think it’s anything to do with fiat money, really. A truly free market, like a truly ‘sound’ currency, like communism, are all utopian ideas that inevitably get f*cked by human nature. The free market that Smith described cannot exist with global trade and communication as it is.
    What i’m saying, generally, is that singling out elites, banks, whatever, for ALL the blame, leads us straight into the hands of the ‘one simple solution’ and inevitably the person claiming to have that solution, then we’re back to square one.
    We didn’t have real communism, but communism as applied by humans and it failed. We didn’t have a real free market, but a free market as applied by humans and it has failed as well. We may not admit it now, but we will.
    As always, the best solution is a complicated compromise and within ourselves, not with others.

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