Perhaps it hasn’t mattered for a long time now. The futurist John Casti, a maths genius, shows in his new book “Mood Matters: From Rising Skirt Lengths to the Collapse of World Powers” how the moods of a society govern its history. Casti’s argument is a radical one: it’s not events in the real world that shape the future, but solely collective expectations. As Epictetus said over two thousand years ago, “What upsets people is not things themselves but their judgments about the things.”
Not just wicked speculators are betting against the euro. A fear-and-anxiety industry among the media, which depend above all on escalating headlines, has been with us a long time.
Fearconomy
The Euro Apocalypse, the Twilight of Money, the End of Prosperity. Angry professors come on talk shows to grandstand with their I’ve-known-it-all-along gestures. In every debate the organ notes piping out doom and gloom have to be cranked an octave higher.
Has this “Fearconomy” not already been the true economy a long time, a much stronger economy than one that relies on change, improvement and renewal? Is “Terror, alarm, horror, end, downfall, crisis, bankruptcy, danger, abyss, anxiety, core meltdown” not the hottest business model of all time, because human beings, at their deepest level, are simply creatures of panic?
“Our most profound conviction,” says Dr. Hoffman in the novel by Robert Harris, “is that digitisation itself, universal connectivity, will provoke a global panic wave. And that’s how we’ll make money – a hell of a lot of money!”
The question is how much Greece debts to the Bankers ? usd 500 billions ? Who will collapse, banks or democracy states ? Who benefits ? Citizens or Financial elites ?
ReplyDeleteA warped referendum
“We give them money, and it wipes away half of their debt – but the Greeks refuse these gifts by referendum? It seems an absurd farce,” deplores Mladá Fronta DNES, which anticipates a conclusive bankruptcy of Greece in the coming months. “The economic reality will not submit to the dictates of the state, nor to a plebiscite or referendum. The economic situation is a reality. It can only be hidden, delayed, denied or falsified."
The “impersonal debt” of the Greek state, which no one wants to take on, has become “a political football”, writes the Czech daily. “The Greeks now have only one solution open to them: falsifying the results of the referendum to please Brussels.”
We have been speaking about this chart for several months now, and it is still giving us a very bullish picture. Nevertheless, we are still waiting for the correction to end, which has now dragged on for 50 weeks since the reaction in silver began.
ReplyDeleteThere have been 31 down weeks (red marks) and 19 up weeks (blue marks). Yet even with the high preponderance of down weeks, silver is only off about one-third from its peak. That is exceptionally bullish. Corrections can drop the price as much as two-thirds from the previous peak. Silver did make two quick dips below $30, but each time the price snapped back.”
Turk also added: “Governments and the people who have come to rely on them do not realize that the socialism game being played for so many decades is ending. Economies cannot exist when the number of tax-eaters are greater than the number of taxpayers, but that has been the case in Europe for awhile now.
Some 52% of France's GDP, as one example, comes from government spending. That is not sustainable, and with the private sector shrinking pretty much throughout the eurozone, the growing burden being placed on it is making matters even worse.
We know from history that socialism brings about the end of empires. It also destroys a nation’s currency. This is why it is so important for KWN readers around the world to protect themselves with physical gold and silver.”
We talked about Spain last week and the problems in the Spanish banks. Now the Italian banks are being attacked. The Italian banks are down almost 10% in the last two days. Also, spreads are widening dramatically in the German bonds.
ReplyDeleteSo, here we are as we have always expected. Italy is next, just like Spain. This is a never-ending story, Eric. The problem is that investors are in denial. People are not seeing the massive catastrophe that is just around the corner. Most investors are living in an illusion that things will work out in the end. So, we have Spain, we have Italy, Portugal, and the UK will also be a big problem.
Of course, at some point the dollar will crash. This is when we will really see gold moving up. All of this is still to come, which is why people should take advantage of corrections to accumulate physical gold and physical silver. We are continuing to see very large flows of capital into physical gold on our end....