Guest Post by Martin Armstrong
Back in 1985 when I was called upon with the birth of the G5, it taught me a lesson. They will call people in to PRETEND they have consulted experts, but it is just a dog & pony show. They already predetermined what they will do and absolutely nobody can step up and advise them to prevent any such crash. Absolutely no government will ever take a precautionary action in such a manner. Government only responds to event – does not prevent them.
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There is absolutely nobody who can save the markets or economy in the middle of a crash – NOBODY! First of all, it was a contagion that began in Russia and because they could not sell Russian assets, they sold every other market to raise cash. So I fail to see how any person or any single country could stop a crash that is a global contagion.
Yes, in 1985 they call upon several analysts to pretend they listened but nobody directed them to create the G5. I wrote to President Reagan back then detailing why the G5 would increase volatility and fail. If you want to call me a Presidential Adviser, I think that is a stretch. If you presume you give advise which is then acted upon, there is nobody who can claim to be a Presidential Adviser to prevent anything. Sure I get calls in the midst of a crash, but there is nothing anyone can do to stop a meltdown. They are short-lived and have to play out.
I wrote to Robert Rubin warning about his jawboning the dollar would crate the same crisis as the 1987 Crash. Tim Geithner quickly responded saying they weren’t doing that. The 1997 Currency Crash came within weeks.
Sorry, I do not believe anyone can prevent anything or save the economy in the middle of crash.
Obviously the fed is doing all they can to forestall a severe downturn we all sense in the offing. Why do you suppose they have opened a market trading desk? Can they simply create out of thin air the money it takes to keep the market propped up indefinitely? It’s been a bedrock tenet of Von Mises-the Austrian School-that the market is ultimately bigger than any force seeking to obstruct it’s will. We shall see.
Nope.
That’s why it’s called Fiat. It is only a promise, which is backed by nothing. When the illusion of the promise is broken, people want want something in return!! When that doesn’t happen…. TSHF. (think Chinese holding all those worthless bonds)
Like the article suggests, the crash is a small time frame event, but the faith has been shattered for a long time, and those who are smart enough, will demand a tangible be attached to your new currency.
And when it comes to tangibles, – go global baby!! (gold&silver)
The party has to end sooner or later but somewhere some maniacs keep screaming “FREE BEER” ! Any thinking person with a thimble full of common sense knows there is no such thing . All debts are paid , one way or another the borrower loses everything and the lender takes a “HAIR CUT” ! This go around everybody is about to be “SCALPED” . Short of a small elite with assets money and wearwithall to “BURN” . I know a high 6 figure fed employee that is a cog in a wheel of an alphabet agency that supplies figures to other agencies regarding cost of living , consumer price index etc… I once asked him what exactly do you do and how do you compile the figures and verify your information . He smiled and said “THEY” gives us the answers “THEY” want and we shuffle the figures till it hits the target . My response was really ! He laughed and said yep “ITS ALL BULL SHIT” !
Sounds like a nice easy job for “high six figures.”
The high salary, awesome benefits, lifelong medical care and pension is simply a pay off.
Sounds exactly like Atlas Shrugged, 1984 and newspeak.
A Criminal, English-based, European, Central Banking Cartel is currently athwart the Financial Center of the United States.
From Day One, that Criminal presence, as parasite, is the antithesis of what this country is supposed to be about.
That Criminal presence, as parasite, has violated article one, section eight (paragraph six) and it is beyond doubt they have done so = counterfeit currency of 1200 trillions (bonds, bills and notes) and counterfeit “securities (mortgage-backed-securities, with no mortgages in them)”.
The FIAT v Commodities argument is a red herring and intentionally-crafted distraction.
Put simply, NO system can function lawfully, by definition, in the presence of counterfeiting.
So : “Can Anyone Really Save The Economy in a Crash?” … YES
We The People can. Think “Iceland”.
The US is uniquely-suited to defy an English-based, parasitic, criminal, “Corporate-Kleptomockracy”. It is what We do best, after all, or, at least that IS our Birthright.
We need to take the criminals at their word and force them to open their books. M3 has not been accounted for since 2006. There is, frankly, zero chance the banks can prove their “assets”, even as 1200 trillion counterfeit US Dollars have destroyed them, not US.
They have, in fact, provided the evidence as marked among roughly 3% their “assets”, in evidence among We The People, right now; check your wallet, the bills within are marked “Federal Reserve Note”.
The American People need simply realize the banks are our oppressors and there are consequences to their multitude of criminal behaviors. When the multitude of latecomers rouse themselves- likely after the Brexit- We The People need simply seize the bankers, their “assets”, the corrupt politicians that fail to swear a renewed oath to the Constitution and then release a pro-rated new currency issue of Lincoln’s Greenbacks, even as those Greenbacks and currency issues (bonds, bills and notes), presently reside within the national Treasury, as a still-viable alternative to the intentionally-mislabeled, “Federal Reserve notes, bills and bonds”.
~ Michael Keane copyright 4/30/17, all rights reserved.
Gold (and silver) is money, everything else is credit. JP Morgan.