Wall Street fiddles whilst the US burns
A few weeks back Max Keiser wrote a piece about how a “complete disregard for the rule of law is at the heart of the issue as to why the U.S. dollar is selling off. There are simply no rules against counterfeiting, insider trading, and market manipulation at every level of the banking system including the Fed and the Treasury”
This was echoed by an article from Jim Willie called Deflationists and blind eyes:
“As long as the insolvent big US banks remain in operation and are not liquidated, as long as toxic paper repositories rest under the USGovt roof, as long as the USGovt deficits remain well above $1 trillion annually, as long as Quantitative Easing legitimizes the debt monetization without checks, the GOLD PRICE WILL RISE INDEFINITELY. It is that simple.”
We can’t have deflation without debt destruction. And so far there has been no appetite for debt destruction anywhere in the world.
So what on earth is going on?
It seems that the answer lies in a recent IMF Bombshell:
“According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.”
That’s not long at all. No-one in the mainstream media is communicating the extent of tectonic shift that is taking place in the murky world of haute finance.
The US will very soon lose world reserve currency status (along with monopoly pricing of oil in dollars too). And this will be a profound change to the world order. Only a small number of people understand or appreciate this, and they are plundering the public purse in nervous anticipation.
Wall Street fiddling, whilst the US burns.
And the UK is likely to get more than it’s fingers burned too.
Post script: A slightly lengthy article by FOFOA gives a flavour of what could happen to the dollar. FOFOA foresees a hyperinflation scenario to socialise losses:
“Ultimately, every penny of every debt must be paid — if not by the borrower, then by the lender.. Inflationists and deflationists implicitly agree on this point… we differ only on the question of who, borrower or lender, will take the hit.. someone will pay. But there is a third option that is missing…the hit can be socialized. Human nature has followed this path for thousands of years. You know the old joke about outrunning the bear? Well, these lenders will influence our financial policy as such. They will try to get their debt securities liquefied first, spend the fiat and in this process outrun you and I. Leaving anyone they can beat to the mercy of the hyperinflation bear eating their remaining fiat assets…”
Those in the know then will likely acquire land, resources and physical precious metals (such as Gold & Silver) whilst the fiat valuation is heavily supressed. A legalised land grab right under our noses.