Ron Paul: Stock market ‘day of reckoning’ is near (VIDEO)

Ron Paul calls out the Plunge Protection Team on CNBC. I don’t think I’ve ever heard it mentioned on financial television. Seriously anyway.

And boy is he right. There is an assumption that the Fed will never let stocks (and other assets) revert to real levels.

The thing is the Fed for all its power is still subject to the laws of thermodynamics, just like the rest of us. That is, even the mighty central bank will feel the sting of its hubris.

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Why Governments Are Coming For Your Cash

We covered the emergence of the anti-cash chorus earlier this year HERE. But we failed to ask one very important question in that piece.

How are all those rappers going to “make it rain” when they’re out on the town in a cashless society? Dollar dollar bill y’all!

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Gold “Terrifies” the International Monetary System

Indeed it does. Gold is a little bit of power you can put in your pocket. It is a direct and ongoing challenge to the current system of fiatism. (And by extension crony capitalism.) Central Banks can’t print gold. Gold limits the power of the Fed and its brethren. Gold limits the power of the banks which suckle at the teat of central banks. Gold limits the power of governments to indebt their peoples. Gold limits the ability of governments to wage war.

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To get real jobs back why don’t we consider real money?

Say what you want about gold but it has held its value for thousands of years. The fiat dollar? Well let’s just say its been a steady march toward becoming trash.

If we want a high value economy, if we want high value jobs, we should have “high value” money. Sound money. Gold backed money. We should have money which can’t be eroded at the whim of our central bank.

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“The Crash of 2008 has been used to engineer a historic redistribution of wealth in favor of the US financial aristocracy”

The dotted line is where the dollar was detached from gold.

The bloom has come off Piketty’s socialist rose that’s for sure. Once the free marketeers peered into the French economist’s book, the arguments, particularly the central one, that capital snowballs forever with the rich forever getting richer, has fallen apart under scrutiny.

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(Real) Median household income last year was $51,371, 4.44 percent lower than in 2009

The 0% interest rates of the past 5 years have made the wealthiest people in America and the world much wealthier. At least in (fiat) dollar terms.

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The best, simplest, explanation of the US monetary system (debt, currency, money, taxes, what’s really going on) that I’ve ever seen. An important video.

Many people are mystified by the kids at the Ron Paul rallies screaming “End the Fed!”

They ask themselves, “Why should we end the Federal Reserve? The Fed helps maintain economic stability right? Every country has to have a central bank. These “End the Fed” kids are nothing but “Paulbots.” The people on CNBC and Bloomberg tell me that the Fed acts in my best interest. I think the people on Bloomberg and CNBC ought to know what’s right for me and my money.  

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The Real Hockey Stick Chart: Inflation Since the Birth of the Nation

This is what happens when the dollar is backed by “the full faith and credit of the United States” and not the barbarous relic. Nixon abandons gold in 1971 and inflation launches skyward. It’s hard to believe that for most of the history of the United States inflation was next to 0%.

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The Market (or More Precisely the Participants in World Markets) Can’t Handle the Truth

“How did you go bankrupt?”
Two ways. Gradually, then suddenly.”
Ernest Hemingway, The Sun Also Rises

For 35 years we have witnessed the slow disintegration of the world economic system. The 2008 Crash represented our entrance into the acute stage of this fiat driven disintegration. We may enter the critical stage in the relatively near future. The attached report from Myrmikam Capital discusses this.

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