or, more completely
BECAUSE ...if you don't pay attention ... someone will "eat your lunch" (guaranteed - it's human frailty).
AND IF the one that needs the most watching is the "steward of your country's sovereignty" .... then you better watch VERY closely. For "when the cat's away the mice will play" read the whole song
Dear Reader, please read as much as you can stand to absorb at this time (it may be too much for some to bear - milk and meat and all that)
Starting with this quintessential excerpt from deep in Armstrong's Aug 4/12 article (heavily excerpted below). An unbelievably cogent, (until the very end when he appends paragrphs from a prior article that he already included in this one) comprehensive and considerate overview of "little guy's" blindly-trusting nescience (no knowledge) and molly-coddled sense of false-security that expresses itself after a generation or two into benign neglect as the default state of political-economic awareness.
" .....In Iceland, mortgages are adjusted according to the currency fluctuations. If you borrow 1 million Icelandic króna and the currency declines by 50%, you now owe 2 million. Because the banks were brain-dead in their investments, now they have put that burden on the homeowner. People now owe more than what they paid for the house. Wages do not fluctuate in such a manner."
Background -- Martin Armstrong the individual, and the author of this article:
a) has a bone to pick with Goldman Sachs;
b) has a bone to pick with the Courts of New York;
c) has a very good idea about how we got into this money-mess (historic dating from ancient times, Rome etc);
d) a computerized modelling system -active and accurate from the 1980's + backward accurate to civil war and further back);
e) spent 12 years in jail in Civil Contempt Charges in his legal defense against charges that his firm (Princeton) was involved in fraud involving Republic Bank (bought by HSBC);
f) is a independent (ie oustracized) voice crying in the wilderness ... while the world (it's gov't actually) continues to go hopelessly in debt .... lie to/placate/mislead their resident/citizen/taxpayers ... who benignly trust that "everything's under control ... I saw the Big Guy on TV last night saying so".
Scan the excerpts below, if then tantalized, please read in full:
http://armstrongeconomics.com/693-2/2012-2/we-are-on-the-verge-of-a-very-profound-systemic-global-meltdown/
then please go to Armstrong's unofficial compendium of past writings
http://www.martinarmstrong.org/ --- scroll down to amazing stuff on undivided "political-economics"
NB bear in mind my comments a)-thru f) above - and ignore the many typos (he needs a better proofreader)
this is an "unofficial" site because it was started when he was handwriting his notes while in prison and a colleague was scanning and posting the pieces
Excerpts from Aug 4/2012 "On the Verge ..."
...
"The HYPERINFLATIONISTS, presume that government will continue to just print, for they cannot see that government is turning aggressive against the people for the bondholders will not tolerate such a policy and demand austerity with higher taxes."
...
"HYPERINFLATIONISTS only focus on the amount of money created by the Fed and presume this must be inflationary, yet inflation is not appearing. This monetary expansion has been far less than the capital destruction that has taken place through deleveraging and it has really been bailing out the banks that have not lowered interest rates passing on the rate reduction to stimulate borrowers. Instead, profit margins at the banks are at record highs and the economy flounders because the greed of the bankers knows no bounds"
...
"Then there was the banking scandal of manipulating LIBOR interest rates. Manipulating markets, interest rates, and governments are standard practice for a very, very long time. They are the driving force behind our destruction of Western Society because they are the people that tell government they cannot survive without them. Who is going to sell their debt? Because governments are addicted to borrowing and have been told this is the way to run things, we are truly screwed. "
...
"Forget the HYPERINFLATION scenarios, fiat currency nonsense, and fake gold bars in Fort Knox. It was PhiBro who subsidized an analyst in Connecticut who had tried to shut us up back in 1997 about their silver manipulation that finally forced Warren Buffett to admit he bought $1 billion. Why do you think Buffett is coming out and advocating paying higher taxes? It is to support the banks, not save society."
...
"Even Fed Chairman Ben Bernanke recently told the House Financial Services Committee that he agrees with the “basic premise” that the Fed should be transparent, however, he raised concerns that the legislation doesn’t exempt monetary policy and deliberations from its reach. He was expressing concern that the Fed strategy would become public. The real concern is that the public would learn that there is no coherent strategy as a long-term plan"
...
"On September 21st, 2008, Goldman Sachs and Morgan Stanley, the last two major investment banks in the United States, both became traditional bank holding companies bringing an end to the era of investment banking on Wall Street making them eligible to borrow from the Fed for trading purposes by calling it something else. Goldman Sachs was one of the heaviest users of these loan facilities, taking out numerous loans from March 18, 2008 – April 22, 2009. The Primary Dealer Credit Facility (PDCF), the first Fed facility ever to provide overnight loans to investment banks, loaned Goldman Sachs a total of $589 billion against collateral such as corporate market instruments and mortgage-backed securities. The Term Securities Lending Facility (TSLF), which allows primary dealers to borrow liquid Treasury securities for one month in exchange for less liquid collateral, loaned Goldman Sachs a total of $193 billion."
...
"The banks are the culprits here. They are the people advising the governments they need to raise taxes and to protect the bondholders at the expense of society. They are placing us all at risk of social unrest. In Europe, crime is rising everywhere. In Brussels, the very capital of Europe itself, a friend in broad-daylight was waiting at a red light when a man with a sledge-hammer smashed her window to steal her purse. In Rome, a friend had to chase a purse snatcher in a park."
...
"We are in the last throes of communism-socialism that have led to the greatest period of fiscal mismanagement in history. We do not need stretching absurd issues to justify buying gold. I do not understand why people are so intent upon misleading investors when we are trying to survive the potential collapse of Western Civilization the same as Communism collapsed in 1989.95. This not an issue of fiat currency that cannot be reconciled with history since not only is all money fiat, but gold declined for 19 years between 1980 and 1999 while money was still fiat.
We are facing something far more serious. This is about the very economic structure of perpetually borrowing with no intent of ever paying anything back. Communism failed because of the Marxist theory that government can eliminate the business cycle through centralized government planning. In the West, Keynes followed Marx insofar as the basic proposition that government is capable of manipulating the business cycle. Sorry! Both were dead wrong and we now are paying the price for those failed theories!"
...
"HYPERINFLATION PRESUMES government will just continue to print forever. They do not even address the reality that the bondholders are the very people who are demanding to raise taxes and impose austerity to ensure what they are paid back and not with devalued funny money."
...
"Then you have the whole state and local government implosion and they have no ability to print money whatsoever. They are raising taxes, transforming police into revenue agents with wheels, and in general doing whatever they can to destroy the local economy. "
...
"Government is just not going to print uncontrollably. Bondholders and bankers are already screaming behind the curtain and quite frankly the mainstream press pays no attention to the crisis in brewing in the wings. To be good citizens, they just do not report what is going on or address that there should be any problems that people need to know about"
...
"We do not face HYPERINFLATION that implies government will function as normal and just print into oblivion. The bondholders will not tolerate that and the bankers will continue to warn against that demanding austerity. The various federal governments are behind closed doors just trying to figure out one step at a time. There is by NO MEANS any such strategic game plan. They are just hoping that the crisis will pass without any reform on their part and they can get back to normal. "
...
"One of the best kept secrets omitted from the history books about the Great Depression is the Depression Script. Over 400 cities could not collect taxes because people had no money. Pictured here are the Lincoln Park currency issues of 1934. This illustrates the great divergence between federal and state/local governments. To simply function because money was hoarded, private currency was emerging during the Great Depression from state and local government – pure fiat"
...
"Farmland that had sold for even $1.50 an acre in the mid-1800s collapsed to 25 cents because there was nobody there to even bid."
...
"Governments globally are without any solution. There is no discussion about reforming the world monetary system. This implies we must crash and burn."
...
"Governments worldwide are in crisis. There is a great disparity between the state and local governments who cannot manufacture money at will and the sovereign national governments who can. If you think for one moment that sovereign government bonds are the flight to safety, you better stop smoking the weed. In the United States, you will see further rises in social security taxes because this is of course not a tax but a garnishment on income that goes into the same spending pot. Therefore, the so called “poor” who the Democrats swear they will ease their burden by getting those rich bastards once and for all, pay attention to Social Security. Since that is a garnishment and not a tax on income, it is not refundable and it skirts the whole rich v poor nonsense – everyone pays."
...
"The city of Scranton, Pennsylvania reduced all government wages to minimum wage. In Spain, Catalonia, Spain’s most indebted region, announced it could no longer pay subsides in July to hospitals, old age homes and other social services. ..... The mainstream press is simply not covering these issues"
...
"Governments are out of control. This is the worst possible outcome we face globally. The United States has lowered the $10,000 reporting on the movement of cash to $3,000. They are going to cause a worldwide economic implosion of untold proportion. They are now trying to criminalize natural human behavior of protection ones self-interest from basically thugs. This is like saying the police can beat your wife or child and if you dare try to defend them, you go to jail for obstruction of justice"
...
"The individual is always screwed. In Iceland, mortgages are adjusted according to the currency fluctuations. If you borrow 1 million Icelandic króna and the currency declines by 50%, you now owe 2 million. Because the banks were brain-dead in their investments, now they have put that burden on the homeowner. People now owe more than what they paid for the house. Wages do not fluctuate in such a manner."
Agree? Disagree? ..... Nobody ever 'splained it to me like that before?
If Canadian please read the
and
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