You only live twice - Once when you are born - And once when you look death in the face. -Ian Fleming
Sometimes a man can meet his destiny on the road he took to avoid it. - Louis Salinger [Clive Owen - The International / Movie]
Risk migrates to the hands least competent to manage it… - Stanton’s Law [T.H.S -
The primary job of the bond salesman is to find the biggest sucker. - Alex J. Pollock
Organic economies employ capital, labor, and materials producing goods & services. Growing new healthy systems exports exceed consumption or imports [trade surplus] resulting in wealth creation.
Engines of past economies represented manufacturing & agriculture. Collateral was held in gold back currencies or P.P. & E [capital assets represented by property, plant & equipment]. Banking (debt financing) and Wall Street (equity financing) played a supporting role of raising capital to facilitate many productive activities.
The creation of the privately owner Federal Reserve by European Financial Conglomerates [12 + 1] families in 1913 facilitated the financing necessary for World War One & ensure project America comes out of isolation. This hybrid banking cartel also allowed for an ‘invisible empire’ .. set up above the forms of democracy [perceived governance > Woodrow Wilson].
Elimination of gold back currencies was set on Masonic Year 1933. Mathematical equations require a constant thus further changes away from the free market ensured centralization of power and communal philosophies [unsound banking].
Ensuring the elimination of fiscal discipline or any relation to responsibility came with the end of the gold standard under President Nixon in 1971 when he famously “closed the gold window.
US citizens on Plantation 13 were NOT allowed to convert paper promises to pay into gold as it was ILLEGAL to own in 1971. The mental conditioning program called ‘education’ ensured continued facilitation of slave mentality by seeking ‘jobs’ versus building real capital.
Strategic positioning of central banks provided the United States a privileged position, which they abused by printing more paper money than they could redeem in gold. This inflationary policy angered the Europeans, particularly the French, who then began to redeem their US Dollars for gold at $35/oz as was their right. Not until pressure from real unknown hero’s such as Jim Blanchard III allow for the right to regain ownership of private property.
There are a thousand hacking at the branches of evil to one who is striking at the root. - H.D. Thoreau
Legendary newsletter writers Richard Russell [Dow Theory Letters] & James Dines covered this transition in the North American Marketplace. Traditional financial resources such as The Wall Street Journal or Barron’s were ideal for tracking bond data or some fund flows > never to identify structural changes to a financial economy.
Harry Browne Book
"People that had the same amount of money in 1980 as they had in 1970 were 80% poorer on a purchasing power basis." - Rick Rule
“For whatever reasons, markets now exhibit far more casino-like behavior than they did when I was young. The casino now resides in many homes and daily tempts the occupants.” - Warren Buffett - 2024 Annual Newsletter
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