by Andy Hoffman, Miles Franklin:
The great – and at times, not so great – thing about aging, is that you get to “study” the nuances of humanity over long periods of time. Yes, technology advances make it seem like humanity is “evolving” – with no better example than the futuristic, utopian societies of, where money no longer exists. However,the reality is – as the French say – plus ca change, plus c’est la meme chose. I.e., the more things change, the more they stay the same. Thus, as positive of an impact as technology can have on our lives, the “flip side” is equally negative, in that it “leverages” humanity’s dark side.
No, Warren Buffett, we don’t live better than John D. Rockefeller due to the internet – particularly because, care of the same money printing that has made you rich, the cost of living has risen exponentially.
And since fiat currency regimes are inherently Ponzi schemes – which must grow larger to survive; let alone, in a world experiencing parabolic population growth, and increasingly scarce resources; the cost of living is about to get A LOT higher. So much so, that it is a mathematical certainty that the “money” underlying the global economy will be dramatically devalued. To that end, most nations have already seen this occur, in spades; whilst for the rest of us, the “frog in a pot” inflation that has plagued our lives for decades is about to boil over into a seething, simmering kettle of monetary hell.
When all is said and done, I will look back at the efforts I put in to educate people of these truths with pride – knowing I have done everything possible to help others. As will Miles Franklin, in not only supplying one of the industry’s best – and most prolific – sources of free information, but knowing it took care of its clients when they needed us most. And never will they need us more than now, as the end of history’s largest, most destructive fiat Ponzi scheme – when the “powers that be” are using every manner of economic data and financial market manipulation; coupled with historic propaganda; to “kick the can” the last few feet; in doing so, enriching “the 1%” at the expense of all others. In other words, “peak monetary stupidity” – which, as the superlative form of a scenario that has ended badly in each of the hundreds of instances throughout history it has been attempted, will not just end badly, butsooooo badly.
I mean, you’d think that after three years of being told the economy was “recovering”; three years of promises of monetary policy tightening – including higher interest rates, and an “exit strategy” from the Fed’s gargantuan $4.5 trillion balance sheet; and three years of promised reductions in the national debt, to name a few broken promises; that at some point, the propaganda machine would break down due to ineffectiveness. Unfortunately, this has not been the case – as clearly, the 99% have been so dumbed down, and addicted to printing press funded entitlements; and the 1% so entrenched in efforts to maintain a self-destructive status quo, that the game has continued long past its effective lifespan. Which fortunately for those hedging against said certainty, only strengthens our will to fight to the monetary death (theirs). Conversely, it is unfortunate for the majority of mankind – who will not only suffer the consequences of increasingly draconian governments, but fiat currency collapse without monetary lifejackets.
From my standpoint, “peak monetary stupidity” is upon us NOW – and frankly, I don’t expect it to last long; as sometime soon, all facets of “the game” will break down simultaneously – from the propaganda, to the market manipulation, to the money printing. Watching the past two days’ maniacal efforts to cap Precious Metals’ post-NFP rebound, for example; whilst the MSM attempts to justify why the Fed’s actions, and inaction’s, are bullish for stocksand bonds, yet bearish for gold and silver; depicts, in my view, just how close we are to the end game.
To wit, yesterday’s Janet Yellen “speech” in Philadelphia – which, in today’s new “peak stupidity” paradigm, was utilized as yet another “tool” to manipulate markets. I mean, how many times can Fed governors speak of their “confidence” in the “recovery,” contrary to essentially all data screaming otherwise? And why on Earth would anyone listen to them, when they have been so miserably wrong, for so incredibly long? I mean, just last month, the FOMC “minutes” supposedly guaranteed a June rate hike (even though the actual FOMC statement couldn’t have been more dovish). So much so, that “markets” supposedly sold gold off $100, despite the fact that even if rates were to be hiked – which I all but screamed would not happen – there is not a shred of historical evidence that this would be “gold bearish.” Let alone, the most recent history.
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