Posts Tagged ‘end of inflation’

Revolution in the West now moving into the ralm of the probable?

August 26, 2010

… and it is not me saying so…

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7964328/Fresh-flight-to-Swiss-franc-as-Europes-bond-strains-return.html

Excerpts with comments (emphasis added):

No country in the developed world apart form Japan has ever seen 10-year yields drop below 1pc. Rates remained significantly higher during the two great depressions of the 1870s and the 1930s.

The above just highlights the unprecedented nature of this crisis as well as the unprecedented nature of government futile, if not populist and criminal, intervention that punishes the many to reward the few.

Morgan Stanley said investors are taking a risk buying sovereign bonds at this level, arguing that debt-to-GDP ratios in the developed world greatly understate the true liabilities and aging costs that threat public finances. “It’s not whether governments will default, but how, and vis-a-vis whom,” said Arnaud Mares in a client report.

And for the piece de resistance:

Mr Mares said most Western states are in “deep negative equity” and cannot hope to pay their debts. Bondholders have so far been “fully sheltered from loss” through the crisis but this is politically untenable. The rest of society will not suffer austerity for ever to pay the coupons.

The next phase of the crisis will see revenge by all those who have already taken a big hit, or expect to do so: whether under water on their mortgages, unemployed, dependent on health support, or state employees. Democracy will have its way.

Next stop: a world war. Just because it does pay to riot –

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100007444/it-pays-to-riot-in-europe/

The great unwashed cannot be asked to understand how and why a state can be and is out of money. The great unwashed that live in the West are oblivious to the fact that the one single dynamic that shapes their lives has been imposed unilaterally by government; that is the monetary system. The great unwashed cannot fathom how the social promises that government made over the past century are but a necessary byproduct of the monetary system. The great unwashed certainly cannot understand that a fiat monetary system is limited mathematically. Heck! Professionals in the banking and finance industry don’t understand that either so why should anyone else.

This is as close to the End Times as we’ll ever get folks.

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This is what 400 years of illuminism and the emergence of “reason” have come to

December 21, 2009

Not a surprise here. Just more confirmation of the end of the inflationary cycle where government is the largest actor in the economy and it seeks to perpetuate its existence by any means in spite of any legal or moral obligations as may prevail in society.

http://original.antiwar.com/fisher/2009/12/15/us-guantanamo-prisoners-not-persons/

Significant excerpts, emphasis added.

“The U.S. Circuit Court of Appeals in Washington, D.C., had ruled that government officials were immune from suit because at that time it was unclear whether abusing prisoners at Guantanamo was illegal. […] Finally, the circuit court found that, even if torture and religious abuse were illegal, defendants were immune under the Constitution because they could not have reasonably known that detainees at Guantanamo had any constitutional rights. […] Finally, the circuit court found that, even if torture and religious abuse were illegal, defendants were immune under the Constitution because they could not have reasonably known that detainees at Guantanamo had any constitutional rights.”