The difference between [socialism and fascism] is superficial and purely formal, but it is significant psychologically: it brings the authoritarian nature of a planned economy crudely into the open. The main characteristic of socialism (and of communism) is public ownership of the means of production, and, therefore, the abolition of private property. The right to property is the right of use and disposal. Under fascism, men retain the semblance or pretense of private property, but the government holds total power over its use and disposal.
Under fascism, citizens retain the responsibilities of owning property, without freedom to act and without any of the advantages of ownership. Under socialism, government officials acquire all the advantages of ownership, without any of the responsibilities, since they do not hold title to the property, but merely the right to use it — at least until the next purge. In either case, the government officials hold the economic, political and legal power of life or death over the citizens.
Needless to say, under either system [socialism or fascism], the inequalities of income and standard of living are greater than anything possible under a free economy — and a man’s position is determined, not by his productive ability and achievement, but by political pull and force. Under both systems, sacrifice is invoked as a magic, omnipotent solution in any crisis — and “the public good” is the altar on which victims are immolated.
– All Quotes by Ayn Rand
Reality Bites
The thing that I disdain more than anything else with regard to the government bureaucrats and Central Planners, is the inexplicable and unjustified confidence they have in their abilities. As much as I bash Wall Street, I would rather have a good investor (not a crony, government welfare baby investor like Warren Buffett, but a legitimate one), in a leadership position rather than the lifetime academics and politicians (lawyers) that are running things today. Why? Because anyone that has worked in the real world of investing has made so many mistakes it is impossible to count. I want to make clear that none of this applies to the TBTF banks, which absolutely couldn’t make a dime without government handouts and bailouts, or the buy-side firms that are in bed with the government (you know who you are), but legitimate “eat what you kill” investors and traders that have no help and must be right more than wrong to survive. These folks are consistently humbled, week after week and year after year by the market and forces beyond their control. They are constantly reminded that failure is just around the corner. In many cases, folks do fail and then they have to pick themselves up off the ground, shake away the dirt and fight to win another day. This of course doesn’t merely apply to investors and traders, but to all those out there in the private workforce trying to create a new business, climb the ladder from line cook to store manager at McDonalds or Wal-Mart, or those spending hours upon hours in a garage or lab trying to discover the next game changing invention. The people it does not apply to are the people running the planet at the moment, which is why there is no doubt they will run the entire global economy straight into the ground.
We need to understand that there is a war raging outside. A war between the parasite class and the productive human. The parasites have total control of all levers of power at the moment, and they intend on using the ultimate implosion of the system to further consolidate their gains in order to create a neo-feudalist society where productive humans will become serfs that exist merely to produce for the pleasure of the parasites with no hope of escape for themselves or their children or grandchildren. We cannot allow this to happen, which is why the most important thing is to inform as many people as possible of the game plan ahead of time so that they are unable to manipulate humanity to acquiesce to its own bondage in the middle of a crisis.
The most dangerous people on the planet are the lifetime academics and these are the folks in charge of the most powerful institutions in the world today, the Central Banks. These lifetime academics have been coddled their whole lives within the “prestigious” institutions that define the paradigm that we live under. In rising high up in academia, these folks never really experienced failure. Sure, they may have received a B+ on a paper once instead of an A, but they have never experienced that crushing failure that only the real world can deliver. As I mentioned earlier, I would put all of the leaders of TBTF banks/brokers in the same category. They have been bailed out at the taxpayer’s expense so many times that they do not live in reality either. When they fail they get bailed out, when they succeed they take all the gains and then buy everyone else off around them. This is not a novel point, but it is extremely important to fully internalize because these are the people (academics and TBTF executives) that are in total control of all economic, social and political policy in the Western world today. It is because of them that we are in the situation we are in and it will be because of them that we will crash and burn.
So What Will The Maniacs in Control Do?
Mario Draghi’s (The head of the European Central Bank) statement today, is a perfect example of how delusional and dangerous these characters are. Amongst other things, he stated that “the ECB is ready to do whatever it takes to preserve the euro,” and that “believe me, it will be enough.” First of all, whenever a bureaucrat says “whatever it takes” images of red flags should appear all over your field of vision and you should immediately turn around and run the other way as fast as you can. He also stated that the European Monetary Union is “irreversible.”
Ok, so let’s dissect these statements. First, nothing in life or human society is irreversible. I am sure the Pharaohs of Egypt and the Emperors in Rome said similar things right before their civilizations came crumbling down. There is no need to make such statements when a civilization is functioning well and the populace flourishing. Such statements are the last refuge of weak leaders in failing systems. How about the “whatever it takes line.” Notice he didn’t say he would do “whatever it takes” to create a better system, or to empower humanity. No, he said whatever it takes to preserve the Euro, despite the clear fact that a breakup of the euro prison would be the best options for all of the PIIGS. So what we can take away from the statement is that once again they will do “whatever it takes” to preserve the big banks and the status quo. If 99.9% of humanity goes down in the process, that is merely collateral damage to these guys.
This brings me to the final point. We are right now about to enter by far the most dangerous period since 2008. The reason I say this is because I believe the Central Planners realize that their theories were nothing but eloquently written academic nonsense and have completely failed in practice. Rather than ever admit this and change course, I know how these clowns think and they would rather burn the world to the ground than “lose.” I think it has been about a year since The Bernank realized his whole life’s work will be relegated to the trash bins of history, but in an attempt to save face, he and all the others will lie, cheat (manipulate behind the scenes) and steal. They have been doing this for all of 2012, and with the U.S. now in recession they will do more. So brace yourselves. If you don’t already realize this is war, you will soon enough. The parasitical system of control is breaking down all over the place and TPTB are getting increasingly desperate. An increasingly desperate power structure is a dangerous one. Get emotionally ready for the trying days ahead. It will not be easy but free humanity will prevail. For some more in depth thoughts on what I see in the days to come please take a listen to this in-person interview, “Don’t Live in Fear,” I recorded while at Freedom Fest a couple of weeks ago. I think it is one of the best interviews I have ever done.
Peace and wisdom.
In Liberty,
Mike
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I high appreciate this post.I imagine this is a massive violation.
REVEALED: Corzine’s MF Global Was Client of Eric Holder’s Law Firm
Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling.
There’s more.
Records also reveal that MF Global’s trustee for the Chapter 11 bankruptcy retained as its general bankruptcy counsel Morrison & Foerester–the very law firm from which Associate Attorney General Tony West came to DOJ.
And more.
As Government Accountability Institute President Peter Schweizer explains in the Washington Times Thursday, the trustee overseeing MF Global’s bankruptcy is former FBI Director Louis Freeh. At Holder’s Senate confirmation hearing Freeh served as a character witness for Holder and revealed that Holder had previously worked for Freeh. “As general counsel,” Freeh said, “I could have engaged any lawyer in America to represent our bank. I chose Eric.”
http://www.breitbart.com/Big-Government/2012/07/26/REVEALED-Corzine-s-MF-Global-Was-a-Client-of-Eric%20Holder-s-Law-Firm
I don’t believe the next few months will be trying at all and I really don’t think Bernanke thinks all his theories have proved useless. In fact, I think it’s just the opposite.
For one, the stock market is TPTB’s last bastion of hope–and Bernanke has KNOWN this for some time. It’s clear as a pane of glass for anyone that is remotely paying attention. And the greatest aid to TPTB last remaining hope is the shorts themselves—I have virtually no doubt about this.
The higher the short interest on the NYSE , the more the ALGO’s lift every NBBO and run the shorts out of their positions with the help of QE leaks, ECB remarks, and manufactured economic data just about the moment everything sits on the precipice. This has kept a bid on the markets for almost two years now. I have never witnessed a market so fragile that a mere 1% decline brings out the hollow QE bazooka threats and every other major trick TPTB hold at their disposal. A crashing stock market right now, right here would be game over for Geithner, Bernanke, Obama, Dimon, et al and they know it.
It’s why they will do ANYTHING to keep a bid on markets—no matter how fraudulent or how much legerdemain is used to do it. The market moves like kids playing a game of WII or Playstation or X-box where a rumor will send stocks ripping a percentage point higher within mere seconds for no good reason at all. None of this is right. It is all wrong. ..
But no matter. Ho ho ho. It is happening anyway and if you’re short it you’ll be royally screwed. 10 year U.S. treasuries are under 1.5% as I write this and in any normal environment such a low yield would most certainly mean there is MASSIVE PANIC in the markets. But no, the 10 year continues its relentless 30 year bull market with negative real interest rates WHILE the stock market continues to climb near their ALL TIME HIGHS. It’s an Edward Jones dream come true—dividend paying stocks and intermediate bonds kicking butt. Golly, “our guy over there at Jones is sure doing a great job for our portfolio mama!”
Yeah, right. Like this game can go on forever. Meanwhile, company after company is reporting misses and lowering guidance….but the market continues skyward. Jesus, you just can’t make this stuff up and while being short is technically the right move it’ll officially blow you up. What do you want to be? Technically right or officially blown up. Even Kyle Bass is balls to the wall long.
Meanwhile, last night I watched Turbo Tax Timmy answer a whole bunch of soft ball questions by his cohort congressmen. Only one congressman attacked Timmy when he told him that “you knew about the LIBOR scandal since 2008, you have met with congress 100s of times since then, yet you never bothered to say one word about it.” Of course, Timmy didn’t. They are ALL IN on the scheme for god sakes—Bernank, Timmy, Dimon, Blankfein, you name it. They all played the LIBOR thing for what it was worth and believe me no one is really going to do anything about it.
These rats aren’t going to turn themselves in—they will fight until the end. And despite hopes to the contrary, I believe the whole LIBOR scandal like every other financial scandal will be swept under the rug mostly because it can be…and not a single soul alive will be able to do anything about it. The people are asleep and do not care.
Then there are the COUNTLESS complaints about gold and silver manipulation right now—to the CFTC, to one’s representatives, etc. Yet, no one, and I mean no one, ever asks these guys why nothing is being done about the gold and silver daily raids and manipulations. There is PROOF of this. Yet not one congressman will EVER put these guys under a microscope for it. Why?
For the same reason they always have: it’s in the national best interests they’ll whisper to one another. Of course they ALL agree that it’s in the best interest of the American public to suppress the crap out of bullion prices, to stomp on the constitution and to spit on it when it is not working for THEM, and to flog any inkling of truly free markets. They must, after all, navigate and channel everyone’s energy into their only hope—levitating stocks for the sake of the people, right? You really just can’t make this stuff up. They have gotten every bubble they have wanted, and they will do EVERYTHING to get the next bubble they want.
At any rate, who really believes tax rates will not be extended, the debt ceiling will not be raised again, and we will not continue on our way to hyperinflation? It’s smooth sailing ahead folks, with a few minor bumps in the road no doubt (another debt ceiling drama). Remember, as we approach the hyper-inflationary state, stocks could very well rip higher. In Zimbabwe, stocks went up 6500% in a two day span–you really want to be SHORT that? Given the central planning channeling efforts of trying to get everyone alive in stocks, it very well could happen here too and it will make places like Zero Hedge continue to look very foolish on stocks for awhile as the bullion suppression continues.
So the take away: shorting stocks will only help your enemies and ultimately provide a lame hedging tool. Be long Gold out of the financial system and if you have to manage money for a living you’re going to be a whole lot better off on the long side IMO for the next 9 months—despite the manufactured declines for QE cover. Just my FWIW and two cents. When inflation really starts ripping, turn in your stocks for an all bullion portfolio. That is the playbook. It will end but not soon. Certainly not in the next bunch of months.
While you make a very articulate response Nic, I do not agree that the Bernank doesn’t see the error of his ways as well as the rest of the CB crowd.
Evidence of this is in all of the recent Exec Orders Obummer has signed in his term. Obummer now owns every aspect of the USA at his command, including forcing you to work.
These people know the end game is near and they are preparing to lock
down the country with these EO’s. They also want our guns and have come
after our magazines. The can’t get the guns but can get the ammo and mags.
http://thedorkfishexpress.blogspot.com/2012/07/resistor-in-rockies-hi-capacity.html
Mike
You have a talent for articulate analysis and seeing clear to the core of matters.
Don’t ever think that there’s not folks that reconize this and appreciate a voice to their thoughts.
It’s a battle, a war; there really is a banking cartel. They really do have an agenda other than accruing more money. They seek to extend their power and to completely arrange the world to their preferences. And yes, for the 99%, it would be a return to feudalism.
“…The most dangerous people on the planet are the lifetime academics and these are the folks in charge of the most powerful institutions in the world today, the Central Banks…”
Fascinating book, which lays out exactly how the cabal/Money Mafia created, back in the mid 1800s, and controlled the institutions — AMA, AEA, the leading universities, etc. — that lead opinion today:
http://dl.prisonplanet.tv/members/reports/Antony%20Sutton%20-%20Americas%20Secret%20Establishment%20An%20Introduction%20to%20Skull%20and%20Bones.pdf
Sutton, who wrote shattering histories on the ties between Wall Street and the Bolshevik Revolution, rise of Hitler, rise of FDR, and U.S. defense contractors purposely supplying know how to the Soviets, considered the above book his most important. I agree with him.
Thank God for the Internet, and our ability to get around the established, controlled institutions.
I echo jasper’s comments. Just right to it. Cuts sharply and ruthlessly. The passion drips off the pages. Keep it up!
Mike, this is completely correct. Ever since Bernanke said he was 100% confident he could control inflation back in 2009, I knew we were in trouble. I’m a successful investor and have learned I can’t know all and will not always be right. One must adjust course along the way when things aren’t going as planned.
“…………………..their theories were nothing but eloquently written academic nonsense and have completely failed in practice.”
The keyword being THEORIES. There is so much baloney surrounding theories. No basis of fact but people are duped into believing that there is…………
I cannot believe at times what people believe as fact and the
media does nothing to improve the situation as they do selective reporting.
I was taught as a child, and then as a university student, to analyze……..but see so little of that anymore. Instead, ‘oh well if so and so said it, then of course it’s true’
These are the same intellects who believe whatever the rags e.g. NY TIMES, LA TIMES, San Francisco Chronicles etc. print. or better yet what they read on the internet.
((((rolls eyes)))))))