Please pour a cup of coffee (fortifier optional) and take the time to read this piece from ZeroHedge via Jim Sinclair, who endorsed it with this declaration:Dear Extended Family,
I sent an email to you awhile ago saying "This Is It," when it wasn’t apparent.
Now, I am sorry to say, THIS IS THE END because it is becoming apparent.
Everything stands on the foundation of CONFIDENCE which is cracking rapidly.
Respectfully,
Jim
The essay begins:
When psychologists evaluate human behavior, one of the most prevalent observations regarding any activity is the all too often flawed basis of perceived versus realistic outcomes that dictates our every action. As imperfect creatures, we tend to construct theories that conform with our worldview, which are subsequently reinforced by our confidence (or lack thereof) in the future. This is true in any discipline: finance, politics, gambling, mating, etc.
There is hardly a better example of this than the very basis of modern economic theory where assumptions about the validity of fiat currencies determine the actions of central banks, which in turn spill over into every aspect of modern society. Yet what if the very basis of core assumptions is wrong? What if every activity exhibited by humans in the post gold-standard world has a flawed assumption at its core?
Austrian economists have, of course, claimed this for ages, usually seeing their efforts conclude with a dead-end as the attempt to change the status quo hits the brick wall of quadrillions of (arguably worthless) pieces of paper which dictate the status quo. However, with the recent turn for the worse, courtesy of sovereign bail outs (as confused as they may be) could the day of reckoning be fast approaching? With each passing the day an affirmative answer seems closer at hand. Today, SocGen's Dylan Grice shares his perspectives on popular delusions, and why these may soon be coming to an abrupt end....
Read the rest, and pass it on.
Tempus fugit.
Does anyone really believe that these criminals at the FED and in high office throughout the land don't know and understand what is coming?
ReplyDeleteThey know full well! This is a confidence game and they know they cannot show any semblance of a lack of confidence or the whole thing gets flushed down the toilet.....on their watch. So they perpetuate the lies and they continue to float these "promises to pay" and set themselves up with golden parachutes.
The criminal element in government have made their money. They have their off-shore bank accounts and they have their gold tucked away to pay the border guards to allow them to slip out of the country when it all comes crashing down!
These crooks know full well what is coming. They are not stupid.
Was over someone's house and they had CNN on-Fareed Zakaria was on talking about this issue and his solution was to cut your benefits(I never signed up for any), push back the retirement age, raise your taxes... they wreck the car and blame the passengers.
ReplyDeleteWe have got to stop being the passengers. We have got to take the wheel back now or we can take the wheel back as we put the whole damn thing back together again. I'd opt for doing it now but we all know that isn't going to happen.
Remember July4Patriot-you could be next!