The Obama Doctrine and the bogeyman du jour- 8/30/14 and more...


The Obama Doctrine and the bogeyman du jour- 8/30/14

 

"There is no possible reason why the U.S. would not let the Germans see their gold.  It’s not ‘a security issue.’  Its Germany’s gold.  The whole thing is preposterous.  However, it is a security issue if the vault is empty or damn near empty.  Then you can’t let the Germans in because it really is a security issue.  So when a country is backed into a corner the way the U.S. was with regards to the German gold, well, desperate times call for desperate measures.” -- Grant Williams, 8/19 in a Kingworld News interview

 

Dear All,

Let's begin with this video of St. Louis police murdering a man. The victim, 25 year-old Kajieme Powell was accused of stealing items from a convenience...

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UPDATE: Farewell Petrodollar dominance - 8/14/14

Dear All,

This bit of news via Reuters overnight, which the mainstream press will surely downplay if even disseminate at all, could not be more significant to the future of the dollar, the gold price and future U.S. living standards.

The final straw in a pile of hubris, mismanagement and abuse that is knocking the dollar from the international reserve currency pedestal  may well be the ill-considered U.S. led economic sanctions of Russia.

President Obama, a former schoolteacher with a faculty lounge mentality understands none of this. Vladimir Putin by contrast is a hardened KGB operative with highly developed street smarts.

Which horse are you betting on?  

Reuters: Putin says Russia should aim to sell energy in...

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The Hannibal Directive and other moral tales - 8/9/14

 

Dear All,

One of my challenges is not making the blog depressing.  What is occurring in our political and financial world is dark stuff, both now massive and growing kleptocracies. What our government has evolved in to is really not surprising; it is the nature of government to steal form its people, the only variable is degree.*  When government is small there is less to steal, engendering less corruption and a higher quality of "public servant."  It was never a possibility that U.S. federal expenditures could reach $3.8 trillion without corrupting the political system to its core.  Then there is the financial system, which as has been covered here the past five years is a nest of government...

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Sykes-Picot and Infrequently asked Questions - 7/8/14

 

Dear All,
 
The modern economist -- a used-car salesman's dream...He never looks under the hood, doesn't ask questions and accepts what he's told.
 
Friday's report of 288,000 non-farm jobs created was heralded as evidence the economy is recovering. The headlines however are one-dimensional apple-to-orange quantitative comparisons. Here's what was under the hood: Full-time jobs declined by 523,000 while part-time jobs increased 840,000 -- a multi-decade record for a monthly part-time employment increase. If that sounds to you like something other than a recovering economy you'ld make a lousy economist. The headlines don't tell the story of the deteriorating quality of those jobs either. Then there is the usual...

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Catch and Release? - 6/9/14

 

"I have maintained for quite a few years that when we reach the peak in this gold cycle, the SGE [Shanghai Gold Exchange]will resemble a casino. The Chinese have a huge propensity for gambling, and this is what will likely propel the gold price to levels that we probably can’t even imagine." -- Franco-Nevada Chairman Pierre Lassonde, 5/21/14

 

Dear All,

President Obama's release of five prisoners from Guantanamo Detention Center -- a government torture facility for predominantly innocent men -- raised eyebrows not so much for his continued failure to close the facility altogether, but for the American soldier for whom the prisoners' release was exchanged.   For years President Obama and his apologists have...

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