There’s never been a change this big, nor so many people unprepared

Despair-Stocks-Slumping

During a panel on the future of money and banking we discussed how the financial system is rapidly losing control of its own product, i.e. money, in the same way that the music industry has lost control of its product.

In the past there used to be a handful of large record labels that controlled the distribution of music across the world.

In the same way, our financial system was set up for a handful of banks to tightly control the distribution of money across the world to the point that no financial transaction could occur without a bank inserting itself in the middle.

But like music, this model is rapidly changing.

Just as you can have now access an unlimited catalog of albums without ever setting foot in a record store, we are now in a position to conduct financial transactions entirely outside of the banking system.

Every single function of a bank, whether to save, borrow, exchange, or transfer money, can all be done better, cheaper, and more efficiently outside of the banking system.

Rather than going to a bank with hat in hand, you can now fund your startup through an online crowd-sourcing platform.

More importantly, dollar dominance is waning.

The dollar has been the dominant reserve currency since the end of WWII.

But the US government has abused this privileged position so many times, with constant bullying of other nations and threatening to excommunicate foreign banks from the US financial system.

So now other nations are quickly coming together to create an alternative system that no longer depends on America.

Jim Rickards, author of Currency Wars, spoke about a meeting that he had with senior officials at the US Department of Treasury.

Jim had expressed concerns about the dollar losing its status, or at least significant market share, as the world’s reserve currency.

And as I kept telling the audience this weekend, this isn’t a question of “what if?” it’s a question of “what is.”

The government of Iran, for example, has already decided to be paid in euros for oil instead of dollars.

And the government of Brazil almost immediately jumped on the bandwagon to trade with Iran outside of the US financial system.

These are major blows to the dollar, and all this just happened within the last couple of weeks.

Yet as Jim Rickards continued his story, senior officials at the Treasury Department refused to acknowledge that the US dollar would ever lose its status and power in the world.

Jim said he felt like he was in London in 1913, with British bureaucrats pounding the table about how the British pound sterling rules the world.

This is a total fantasy.

As we discussed in Friday’s analysis of the US government’s latest financial reports, the government is totally bankrupt to the tune of negative $18.2 trillion.

The Federal Reserve has printed itself into insolvency.

And the entire US financial system is underpinned by the greatest level of debt that has ever existed in the history of the world.

There is no nation and no currency entitled to the top spot forever. History shows that wealth and power routinely change.

And Robert Kiyosaki added that there’s never been a change this big, nor so many people unprepared.

I tend to agree. Just looking at the sheer size of the $200 trillion debt bubble, there’s never been a change of this magnitude.

And given that more than half of Americans have less than a thousand dollars in savings, it’s clear that too many people are unprepared.

In my own remarks, I discussed all the striking similarities between 2008 (when the world erupted in a massive financial crisis), and where we are today.

Our financial system is loaded with risk. Insolvent governments, insolvent central banks, dangerous levels of illiquidity, negative interest rates, early signs of capital controls.

Again- this isn’t “what if”. It’s “what is”.

 

G. Edward Griffin, author of the exceptional The Creature from Jekyll Island, about the Federal Reserve quoted Sun Tzu, suggesting that if you “know your enemy and know yourself you need not fear the result of a hundred battles.”

Advertisements

DNC Vice Chair resigns to support Bernie Sanders over concerns about Hillary Clinton’s warmongering

Anybody but, Hillary = WW3

The Secular Jurist

By Robert A. Vella

Tulsi Gabbard, vice chairwoman for the Democratic National Committee, U.S. Representative from Hawaii, and rising star in the Democratic Party, resigned from the DNC on Sunday in order to support the candidacy of progressive challenger Bernie Sanders.  The move comes before the crucial Super Tuesday primary elections and caucuses in over a dozen states.  As a member of the DNC, Gabbard was prevented from endorsing any candidate.  Most political analysts see a strong showing on Tuesday as Sanders’ best, and possibly only real chance of defeating centrist establishment candidate Hillary Clinton for the party’s nomination for president.

Gabbard’s publicly stated reasoning reflected concerns about Clinton’s warmongering foreign policy agenda.  Those are my words, not hers.  These are her words from The New York TimesTulsi Gabbard, Rising Democratic Star, Endorses Bernie Sanders:

“As a veteran of two Middle East deployments, I know first hand…

View original post 258 more words

Nicolas Trainerbees, the Beekeeper That Has Managed to Get His Bees to Make Honey with Cannabis Resin

Mmmm, cannabis infused honey! 🙂

Tales from the Conspiratum

Please Nicholas come to Canada! British Columbia that is. We already have some of the best weed in the world in this province, and our federal government will be legalizing cannabis soon. They are working on the details.

Source: Nicolas Trainerbees, the Beekeeper That Has Managed to Get His Bees to Make Honey with Cannabis Resin

https://www.dinafem.org

Feb 22, 2016

The French beekeeper has self-medicated with cannabis since a very early age and he defines himself as someone who is passionate about nature and training all kinds of animals. Both of these factors have led him to spend years researching how to combine the properties of the plant and the insects that he dedicated his life to. The result is “cannahoney”, a delicious nectar that has not gone unnoticed by anyone and that has to confront the restrictive laws of his country.

160222092956

He is an artisan, locksmith and above…

View original post 380 more words

It’s Like “Nazi Germany” — Federal Police Officer Furious After Cops Attempt to Rob Him and His Wife

Tales from the Conspiratum

“It seems like Nazi Germany, you’ve got to have the paperwork and the proper authorities to come through Tennessee.”

Source: It’s Like “Nazi Germany” — Federal Police Officer Furious After Cops Attempt to Rob Him & His Wife | The Free Thought Project

http://thefreethoughtproject.com

Nashville, TN — In May of 2014, Ronnie and Lisa Hankins were driving back from his grandfather’s funeral in Virginia when they were targeted by a gang of police officers in search of cash.As Lisa drove the couple westbound down I-40, they saw an officer, who happened to be with the 23rd Judicial District Drug Task Force, and Hankins correctly predicted that they were about to be pulled over.

“I told her we are going to get pulled over,” Ronnie said to NewsChannel 5.

“What made you think he was going to stop you?” NewsChannel 5 Investigates asked.

View original post 839 more words

Russia Bans US GMO Imports

Tales from the Conspiratum

Source: Russia Bans US GMO Imports | New Eastern Outlook

http://journal-neo.org

Author: F. William Engdahl

26.02.2016

453453453454Russia is making consequent its decision last fall to ban the commercial planting of Genetically Modified Organisms or GMO in its agriculture acreage. The latest decision, effective February 15, 2016 does not at all please Monsanto or the US Grain Cartel.

On February 15, a Russian national import ban on soybeans and corn imports from the United States took effect. The Russian food safety regulator Rosselkhoznadzor announced that the ban was because of GMO and of microbial contamination and the absence of effective US controls on soybean and corn exports to prevent export of quarantinable grains, also known as microbial contamination. The Russian food safety regulator added that corn imported from the US is often infected with dry rot of maize. In addition, he said, corn can be used for GMO crops in Russia…

View original post 878 more words

The Revolution of Freedom is Taking Place in Your Mind

Tales from the Conspiratum

Source: The Revolution of Freedom is Taking Place in Your Mind – The Freedom Articles

http://freedom-articles.toolsforfreedom.com

Makia Freeman

Feb 26, 2016

revolution of freedom bird cage

The revolution of freedom is already happening. It’s not a fake revolution like Obama’s hope & change. It aims to change the entire system.

The revolution of freedom

is happening. It’s well underway. It’s not a fake revolution like Obama’s “hope and change” pretense. It’s fueled by an awakening and a rising of consciousness that is earnestly dissolving old mental structures that no longer serve us. This rising consciousness, which is flowing and expressing itself through many people right now, is determined to stop looking to authority to fix things. It is determined to stop thinking that “respected institutions” like Government can help. It is determined to stop believing in collectivism, and instead honor the glory and uniqueness of every individual, without which the group could not exist. It is determined to stop believing…

View original post 905 more words

BREAKING: US government releases its 2015 financial statements

US-Debt-Crisis

Hot off the presses, the US government just published its audited financial statements this morning, signed and sealed by Treasury Secretary Jack Lew.

These reports are intended provide an accurate accounting of government finances, just like any big corporation would do.

And once again, the US government’s financial condition has declined significantly from the previous year.

For 2015, the government reports $3.2 trillion in total assets.

This includes everything from financial assets like bank balances to physical assets like tanks, bullets, aircraft carriers, and the federal highway system.

Curiously, the single biggest line item amongst these listed assets is the $1.2 trillion in student loans that are owed to the government by the young people of America.

This is pretty extraordinary when you think about it.

37% of the government’s total reported assets are student loans, which is now considered one of the most precarious bubbles in finance.

$1.2 trillion is similar to the size of the subprime mortgage market back in 2008. And delinquency rates are rising, now at 11.5% according to Federal Reserve data.

Plus, it’s simply astonishing that so much of the federal government’s asset base is tantamount to indentured servitude as young people pay off expensive university degrees that barely land them jobs making coffee at Starbucks.

On the other side of the equation are a reported $21.5 trillion in liabilities, giving the government an official net worth of negative $18.2 trillion.

This is down from last year’s negative $17.7 trillion and $16.9 trillion the year prior. It just keeps getting worse.

But there’s one thing that’s even more incredible about all of this.

You see, each year these financial statements are audited by the government’s in-house agency known as the Government Accountability Office (GAO).

All big companies do this. They publish financial statements, which are then reviewed by an independent audit firm.

Auditors are a critical component of the financial reporting process.

It’s their responsibility to make sure that shareholders and the public can have confidence in a company’s financial statements.

When Apple publishes an annual report, auditors go through all the books of the company and make sure that management is accurately representing the company’s true condition.

Thus when an auditor issues a failing grade, or what’s known as a qualified opinion, there’s usually hell to pay.

At the very hint of impropriety a company’s stock price will tank immediately. People get fired. SEC investigations are launched.

And now based on US securities law and section 404 of the Sarbanes-Oxley Act from 2002, senior executives can face criminal charges if their companies receive a failing grade from their auditors.

This is serious stuff.

Yet year after year the GAO gives the federal government a failing grade in its audit report of America’s financial statements.

In this latest report, not only did the GAO chastise the federal government for its “unsustainable fiscal path”, but they state that the federal government consistently fails to prepare “reliable and complete financial information– both for individual federal entities and for the federal government as a whole.”

The Department of Defense, Department of Housing and Urban Development, and the Department of Agriculture are all singled out for their failure to prepare complete and accurate financial statements.

This is corroborated by a report published last year stating that the Defense Department has somehow “misplaced” $8.5 trillion of taxpayer money over the last 20 years.

The GAO cites other material weaknesses in the government’s reporting of supposed cost reductions in Medicare and Social Security.

In all, the GAO calculates that these financial uncertainties total $27.9 trillion, suggesting that the government’s true financial condition is far worse than reported.

Bottom line– if this were a private company, Barack Obama and Jack Lew would be wearing dayglo orange jumpsuits in court while facing felony fraud charges.

It’s not just the $18.2 trillion in negative net worth. Or the $41+ trillion (by their own calculations) in the Social Security shortfall.

It’s the fact that they can’t even stand in front of the American people with an honest accounting of how pitiful the financial situation really is.

The government of the United States is totally, desperately, hopelessly bankrupt. And they become even more insolvent with each passing year.

Nearly every single dominant superpower throughout history was eventually consumed by its unsustainable finances.

And in their decline from power, bankrupt governments rely on a simple playbook to desperately try to maintain the status quo by every means available.

They destroy freedom. They impose a police and surveillance state. They seize assets. They wage campaigns of violence and intimidation.

They impose capital controls. Cash controls. People controls. Whatever it takes.

This time is not different. The finances of the US government are obvious, as is the trend.

We’re not talking about what ‘might happen’ or ‘could happen’. We’re talking about what IS happening.

And this is not a consequence free environment.

%d bloggers like this: