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July 29 2016 

A blast of hyperinflation then a deflationary wipeout. 
A Swiss banker makes a gloomy forecast.

    "The assets that these three central banks hold will be totally worthless in the next 5-7 years. But before that their balance sheets will expand exponentially in a final Keynesian attempt to save the global financial system from total implosion. This will lead to a short period of hyperinflation before the deflationary implosion of the system. Because you cannot solve a problem using the same method that created it in the first place, this will be the necessary total eradication of all debt. But it is not only debt that will disappear, most of the assets financed by this debt will also decline dramatically in value, leading to a massive destruction of wealth.."  Egon von Greyerz

c    Mr. von Greyerz is a gold bug, believing that gold-in-hand represents actual wealth while paper currency in one's pocket is not wealth but merely a CLAIM on wealth.  History is on his side in forefasting the eventual fate of debt based currency.  

     So why are we posting links to a gloom-and-doom report?  Because the more one learns about the dangers of the feeble modern monetary system the politicians and bankers have erected the better one can prepare for the likely economic storm.


     "The truth is that when the emails that are leaked in the age of the Internet are America’s wartime secrets, such as battlefield secrets in a time when our troops are engaged in combat with a savage foe, the left is all too eager to work with the leakers and characterize them as 'whistleblowers.' But when the messages being leaked include internal email traffic of the Democrats themselves, wires that show them maneuvering against Senator Sanders in a ghastly way, the Democrats are suddenly up in arms. Mr. Trump seems to have figured out the petard on which the Democrats have hoisted themselves."  NY SUN  
    It's Thursday, the last day of the Democrat Party convention.  As is our custom we haven't paid much attention to any of it, just as we ignored the Republican gathering last week.  Our personal feelings prompt us to run in the opposite direction of the leftist course the Democrats support.  On the other hand, we're not attracted to the GOP offerings, either.  We're in a quandary.  

    From what we can observe we're not alone.


 Haunted by a murdered priest.

  We can't get the throat-slitting of a village priest in a church in France out of our mind.  We awoke to the news of this atrocity yesterday and thought the elderly priest had been beheaded in front of his congregation by Islamist cuthroats, but later heard they had done the fearsome deed after forcing him to kneel and listen to Arabic incantations. 

   So, an old country priest has been slaughtered in Normandy, France, and popular journalists in the U.S. are too busy covering and commenting on the Philadelphia political convention to give much public attention to this latest horror by thugs pledged to the Islamic State.

    A Wall Street editorial today suggests the proper response to the Islamist State is to go on a swift and decisive offense beginning with the eradication of its strongholds in Syria, Iraq and Libya.  The Journal contends French President Hollande may have declared war on Islamic State but "so far the fight has been more symbolic than strategic." 

    IS is pledged to overrun the western world its brutal mix of religion and politics.  The clash between our own justice system and sharia law alone would be a horror

    There's not much point in sticking our necks out in hopes maniacal jihadists will peacefully dismiss the ideological differences and put their razor sharp Damascus blades away. One's head can be separated from one's body in an instant. 


 
  

BILL BONNER, THE ROGUE ECONOMIST, CAUGHT OUR ATTENTION WITH THIS:

When you start thinking about what money is and how it works, you face isolation, shunning, and possible incarceration.

The subject is so slippery – like a bead of mercury on a granite countertop – you become frustrated and… then… maniacal.

You begin talking to yourself, because no one else will listen to you. If you are not careful, you may be locked up among the criminally insane.
Duped and Distorted

We’ve been thinking about money for the last couple of months.

It has become our favorite subject. That is why people edge away from us at parties. Our family finds novel ways to change the subject.

“Whoa… sorry to interrupt, Dad… but isn’t that a flying saucer?”

Undaunted… we press on. We think we’re onto something important. We have come so far; we might as well go the whole way.

Economist George Gilder’s new book, The Scandal of Money, came as an unexpected reinforcement. He has been thinking about money, too. But he seemed fairly normal in Las Vegas last week. No facial tics. No babbling or paranoid delusions.

Gilder has come to much the same conclusions from a different direction.

It is not real money. It only pretends to be. It has duped the entire world… and distorted the entire global economy.

HOPEFULLY, MR. BONNER HAS YOUR ATTENTION, TOO.  READ THE REST AT THE CRUX.

(Pass the link to friends)

 

 

The Parasitocracy
Growing, at your expense.!

"The new money substitute, which we’ve lived with for 45 years, is a fraud. A dollar in 1971 is worth about 17 cents today. In other words, it has lost roughly 80% of its buying power. Had you been counting on it to preserve the value of your work from the previous decade, it robbed you of everything from 1960 to 1968. The phony dollar has misled an entire generation into spending money it didn’t really have… doubling or tripling its debt-to-earnings ratio, and shifting more and more of its real wealth to the least productive people – the Parasitocracy."   Zero Hedge    The world is agog with presidential nomination politics at the moment so this excellent article will probably get little notice.  It's mere an excellent piece that explains how the rich get richer and you don't.  It all has to do with the devilish problem of irredeemable fiat currency, that totally unworkable measuring stick of financial transactions over time.  As it points out - the dollar of 1971 now has purchasing power of about 18-cents.  (!)