Down (South)….But Not Out

This is for all my well-wishers out there who’ve taken the time to poke this blog to see if it’s dead or merely comatose.

I’m  here. I’m alive. I just got tired of the off-line harassment  –  snooping on my private life through illegal surveillance of my home, my family and friends, private  conversations, and email correspondence…. that’s in addition to the online stuff.

I’ve talked about it before.

So that’s how the game is played in the US of A, in these early years of the 21st century.

Of course,  I have no interest in becoming a pawn sacrifice  nor in wasting my life keeping track of a chess-game I didn’t ask to play.

That’s the background.

The foreground is my personal life, which has kept me occupied quite well.

I’ve been traveling again. It helps with perspective.

The US is a mess of controlled media and staged terror. But other countries are as bad…. or much worse.

The whole globe is awash in the same inane, idiot-making advertising of the neo-liberal marketplace and the global war on terror.

Meanwhile, tectonic shifts are taking place, not just in Iran, China, or Pakistan (check out the spate of earthquakes in those regions), but in the economies and polities of any state so unwise as to join the Global War on Terror either as friend or foe.

In India, the so-called national paper, The Hindu, has been taken over in a kind of publishing coup and in flagrant violation of Indian law, by a US citizen, Siddharth Varadarajan. Siddharth is the left-leaning brother of the Wall Street Journal editor, Tunku Varadarajan, a right-leaning advocate of the War on Terror.

The paper today is one long hard-sell of overpriced property.

Whole pages are also devoted to gold ornaments, a known outlet for speculative profits.

Building colleges through trusts that enjoy favorable tax status is also a favorite way of laundering money in India (see also this article). The government-builder mafia is often behind the plethora of new institutions springing up everywhere.

Where I am, down in the sunny South, such unwisdom is poisoning not just the media, but just about everything…from the banking system to technology to transport ….

(more later)

Note: Links on some of these posts I’ve referenced have vanished. This keeps happening to certain posts, whether for technical reasons or for others…

Bear with me. I’ll add them back when I get a moment.

Who has the gold?

Came across this tidbit recently:
(Haven’t tried to verify its accuracy..just passing it along, since there was recently a debate among some Austrians and their detractors about whether the Rothschild controlled the gold market)

The Missionary Review of the World, Volume 29, printed in 1906 disclosed:

“The Possession of Wealth: One Jewish banking house is estimated to control $30,000,000,000. The Rothschilds in ten years loaned $482,000,000. Nearly one-half of the gold coined, of the entire world, is said to be in Jewish hands.”

How they figured that out is a bit mystifying, but there it is.

And more on the Rothschilds:

Dutch economist Ad Broere, in his 2010 book “Ending The Global Casino,” informs us that,

“The 19th century became known as the age of the Rothschilds when it was estimated they controlled half of the world’s wealth. While their wealth continues to increase today, they have managed to blend into the background, giving an impression that their power has waned. They only apply the Rothschild name to a small fraction of the companies they actually control.”

Is Tolstoyan Anarchism The Same As Rothbardian Anarcho-Capitalism?

I smell more smoke…and mirrors..

Agora-affiliated  Jeff Berwick

[in an interview today with Agora-affiliated Daily Bell]:

“Tolstoy was an anarchist.”

Agora-afflicted Lila Rajiva

[in a monologue with herself over coffee as she looks over Tolstoy’s astrological chart – just kidding! – and recalls the millions of words of  Lev she actually read decades ago, if only in translation]:

Yes, Tolstoy was an anarchist.

He was also anti-capitalist and anti-property, and, by the end of his life,  he was also anti-sex, anti-church, anti-religion, anti-mysticism, anti-technology, anti-capital punishment, and anti-art.

He worshiped the Russian peasant.

He excoriated himself for having written “War and Peace” and “Anna Karenina”.  He wanted to give away everything he owned, even though his children and his poor wife (who had slaved over his manuscripts for years) opposed him.

And most of this extremism came out of his own psychodrama (as Gandhi’s “issues” came out of Gandhi’s psychodrama).

Tolstoy killed a man in a duel in his youth, fought in wars in which he killed his enemies, and contracted an STD from an early experience of sex (perhaps his earliest).

He had such an enormous sexual appetite that he was always taking up with underclass women and then suffering bouts of self-loathing and revulsion toward them.

He often threatened his wife with a gun, while cussing her out.

Then he had a “dark night of the soul” and became a different man.

You know what happens. An alcoholic swears off drink. Then he becomes even more of a nuisance than he was before. He follows you around, a thermos of coffee clutched to his heart, the lingo of AA on his lips. You feel sorry for him. He’s off liquor. But he’s not cured.

Same thing with Tolstoy.

For the Mises-Agora-hard-money (gold-bug) libertarian circle of co-investors and co-thinkers (to which Jeff Berwick belongs) to pretend that Tolstoy’s anarchism is equivalent to the anarcho-capitalism of the gold-bug, secessionist, philo-Semitic-yet-Dixiecrat, finance-capital-friendly, anti-democratic, Rothbardian  wing of American political and economic thought is, frankly, nonsense.

But it’s terrific marketing if you want to neutralize the anger of a  whole bunch of  anarchist youngsters, oldsters, and hipsters,  by channeling it into anti-nation state ideology in the service of the new KKK – Korporatist-Krisismongering-Kleptocrats.

And make a few bucks doing it too.

Wink.

“Flash Crashes” Suggest Market Trouble?

Update (Sept 29, 5:54 PM):

Just a thought. Could a DHS cyber security exercise scheduled for this week have had anything to do with these two market “accidents”?

According to this report, the following sectors (among others) were to have been targeted for several days this week:

“This year’s exercise will be the largest yet, including representatives from seven cabinet-level federal departments, intelligence agencies, 11 states, 12 international partners and 60 private sector companies in multiple critical infrastructure sectors like banking, defense, energy and transportation.”

The markets aren’t specifically mentioned, but then you’d expect that if they were the chosen target…

ORIGINAL POST

Peter Cooper at Arabian Money argues that an apparent Google “flash crash” last Friday signals a market correction in the offing:

“It also seems pretty clear that Wall Street insiders flicked the sell switch at the weekend. That would account for the ‘accidental’ Google flash crash last Friday (click here). You bet against this crowd at your peril.

On this reckoning the gold pit action is just a last burst of optimism from latecomers to the party. For the gold price will surely dip (if not to much more than $1,150) in a big sell-off in financial markets, and silver will also fall back below $20.”

Meanwhile, Rick Ackerman points to a mini flash crash that apparently took place on Tuesday night in the gold futures market…..and explains why Bob Prechter has been wrong for the last 18 months – he’s an expert in real markets, not completely rigged ones…

I’ll admit that I’m glad to see this because of my own market bias, which has left me a bit lonely waiting for some kind of correction in the gold price.

Years of making my very own patentable blunders have made me much more comfortable being wrong on my own rather than being right in a crowd…..

But there does seem to be some technical evidence that a correction might be due.

Eric Janszen On The Bubble In Economic Fallacies

Eric Janszen at iTulip on how the masses never connect an excess of past circuses with a deficit of current bread:

“Ten years from now, when the full impact of the U.S. asset bubbles of 1998 to 2008 are fully felt, the dot com era, when money flowed like oil from a geyser, before the wars and financial crisis, will be remembered as the good old days, the high water mark for American power and influence. Not one in a million Americans will connect the antecedents to financial crisis and excessive government borrowing to the inflation that we will experience in the future. Not our readers, of course. Continue reading