Under the new format of the Miles Franklin Newsletter and Blog, I write of fewer items than in the past. I do intend to focus on one key topic this morning; i.e., the “New World Order.” However, before I get there, I need to touch on the swarm of “horrible headlines” threatening the world’s political, economic, and social orders. Any one could catalyst the END GAME of fiat currency collapse; and with so many such “black swans” on the horizon, the odds of such an event increase exponentially each day.
Over the weekend, political wrangling over the debt ceiling and government shutdown reached a fever pitch; with both sides decidedly rejecting the other’s proposals. Frankly, few understand exactly what is being disputed; as even I find it hard to believe this is all about Obamacare. Few details of the “negotiations” have been released, although I suspect little of substance is actually being discussed. I’ll speak more of this topic tomorrow; but in the meantime, take note of what Obama clearly wants to impose on America. Yes, the higher taxes I have literally SCREAMED are coming. That is, if we want to be the Socialist States of America, we’re eventually going to pay Socialist tax rates – as are the norm in Canada and Europe, among others.
The debt ceiling, of course, MUST be raised; lest America will instantaneously cease to be a global superpower. Even the most nation-destroying politicians understand their jobs will be on the line if they fail to keep PRINTING and SPENDING;and thus, I ASSURE you they won’t disappoint the billions counting on – and in some cases, begging – Congress to kick the can further. Essentially, the ENTIRE WORLD made its bed when it allowed America to renege on the Bretton Woods agreement in 1971; and now, must sleep in it, no matter how soiled it becomes. Don’t worry; the Fed is happy to play its part; as come hell or high water, they will ALWAYS find a way to print more money. That is their mandate, which will NEVER change until their entire fiat Ponzi scheme implodes.
In today’s environment of rapidly deteriorating global economic activity, EVERYONE needs to kick the can as far as possible. Not a single government has the ability to avoid a 2008-style crash without PRINTING, PRINTING, and PRINTING some more. To misguide the masses as to the effectiveness of such actions, some “cook” their statistics more creatively then others. However, all have the same root issue; i.e., too much DEBT, built over the four decades since REAL MONEY was discarded in lieu of fiat trash.
By now, it should be quite evident that the U.S. economy’s only “bright spots” are but mirages created either by Fed MONEY PRINTING or BEA/BLS data fudging. And now that the shutdown is into its third week, even government lies can’t disguise the fact that overall economic activity is weakening; which is typically the case when major corporations report poor earnings while announcing major layoffs. Meanwhile, the “world’s growth engine” – China – reported absolutely horrific export data this weekend; by far, its worst miss versus expectations in memory. The Bank of Japan reiterated its intention to do ‘whatever is necessary’ takes’ to defeat “deflation”; emerging market economic indicators have fallen to post-2008 lows; the IMF is discussing a massive 10% “bail-in” on all Eurozone savings; the hapless Indian government is desperately searching for gold to alleviate soaring demand; and even poor old Canada admitted its economy is in a funk. The graphs below shows just how desperate the global economy has become; with the MSM hyping the tiny, statistically insignificant blips in the U.S. and Japan – following the most maniacal MONEY PRINTING schemes in history – as “constructive,” while ignoring all else…
Meanwhile, I’d be remiss if I didn’t report how a supposed “glitch” caused food stamp EBT cards in 17 states to stop working for two days this weekend. Fortunately, the issue has been fixed; however, for two days, millions of poverty-stricken Americans were equally fear-stricken when the prospect of starving crossed their minds. Whether “planned” or not, I have no idea. However, what I do know is that one day soon – perhaps much sooner than most could imagine – HYPERINFLATION will wipe out the usefulness of such cards, even if they are still “accepted” at Walmart. Social unrest is inevitable; and if you don’t think so, just ask those who participated in the “Million Vet March”; angered simply by the government’s callous closing of war memorials as part of the “shutdown.”
And then, of course, there’s the blatant government attacks on Precious Metals prices – such as Friday’s “stop logic” slam in which two million unbacked “paper ounces” were offered at the COMEX open to quell momentum ahead of the weekend. They may fool the “dumb money” for some time, but the smart money knows exactly what’s going on. European Central bank gold sales have ground to a halt; and this weekend, the release of August Chinese import data revealed a continued explosion of PHYSICAL buying, that will eventually overwhelm any and all attempts to suppress prices with fraudulent PAPER selling.
Consequently, the global mining industry is on the verge of collapsing; yielding the massive production shortfalls I anticipate in the coming 2-3 years. Andrew Maguire notes the utterly staggering amount of Eastern buying whilst the U.S. “emperors” shed their remaining clothes; and per the quote below, believes the divide between the PHYSICAL and PAPER gold markets has become so gaping, the odds of prices falling significantly from here have dropped to essentially nil…
To be honest, I think the damage has already been done. The breach, the divergence between the real market and the paper market has reached an extreme which I cannot believe can be maintained. We are stretched beyond anything that’s credible here.
–King World News, October 12, 2013
And speaking of China, let’s move on to today’s main topic; i.e., the New World Order taking shape in the Eastern Hemisphere…