Just because I think it is worth repeating.
I AM A SPECULATOR
There! I said it.
I, with my $800 computer, am a speculator.
I am one of the guys taking positions against governments and financial institutions.
Not that my blog left any doubt that I think our governments, though by self inflicted necessity, have morphed into criminal organizations. But just because I know this transition has to happen, I also know that the prescribed “cure” for the crisis will also result in the sovereign bankruptcy of nations.
And, granted, I am small fry. But exactly because I am small fry, I need to protect the meager wealth that we’ve been able to protect from years of government plunder and waste. My family never profited from the inflationary cycle of the past 30 years. Quite the contrary! Never having made use of excessive debt if not to buy a house in the late 70s and another house a few years ago (the first house was sold many years ago), we never participated in the debt fueled extravaganza of the go-go years. And though prudent we may have been, inflation robbed us of a significant chunk of our wealth. And for what!? For all the fireworks and the circuses and the glitz of the past thirty years our public schools are hives of belligerent ignorance, our public health care is lethal, our infrastructure is crumbling, our seas are polluted and there is never any money available to make any of these things better. Yet, the minute a global bank threatens (because it is a deliberate threat – ergo – blackmail) to take the system down if it is not bailed out by public money, lo! We find Trillions and Trillions of Dollars to assist them with.
It’s fine. I can see how we can rationalize all of that and I do.
But now I have a chance to get some of my own back. I think I can see what government obviously cannot see or does not want to see. And protecting what wealth we have left let along getting some of my own back means that I have to bet against governments and I do.
You guys looking for speculators? Here I am. I am a speculator.