This is my first Miles Franklin RANT written in Denver, and I have A LOT to say!
The global economy is like the train at the end of Back to the Future III, careening down the track at 88 miles per hour en route to its inevitable crash into Clayton Ravine.  No matter what sticks and stones are placed on the track to slow its momentum (such as FAKE bailout schemes, such as we saw last week, and “Yenterventions”, as we see this morning), the train will inevitably crash, and do so in spectacular fashion.  This is why it is GUARANTEED that PHYSICAL Precious Metal prices will rise until a new gold standard is forced upon the world by the litany of collapsing currencies.
Before I get to the point of this RANT, I need to catch you up with the “horrible headlines” since my last missive was published on Friday.  A daunting task, as nearly THIRTY are listed in my “future RANT” section, but no matter, this is what I LOVE to do.
Let’s start with the so-called European Bailout, which has now taken the Dow up nearly 2,000 POINTS in three weeks.  To call this a bailout is a farce beyond compare, making TARP look like a sophisticated operation.  NOTHING has yet been agreed upon, with only the stock market benefitting so far, care of the PPT.  A portion of the incremental $1.4 TRILLION fund to bailout EVIL, STUPID European banks will be funded with PRINTED ECB MONEY (say thank you, European taxpayers!), but the rest has yet to be funded.
See, the problem with “leveraging” such funds is that you need a greater fool to do so, as described in this simple two-minute video.
http://www.zerohedge.com/news/xtranormal-explains-european-non-bailout-best-cartoon
Unfortunately, the greatest hope for such EFSF “leverage” is the Chinese government, which took just two days to refute the hope that it would fund this cesspool slush fund.  No one want to “extend and pretend” more than the Chinese, who need to offload as many of their useless dollar and Euro reserves before the GREAT CURRENCY COLLAPSE, but even they know the definition of throwing good money at TERRIBLE money.

Thus, as I referred to multiple times in recent weeks, this “bailout” will only avoid being DOA if one or more “white knights” show up to save the day.  Which is EXACTLY what the ECB, and the market in general (at least the few LEGITIMATE players left), is expecting to occur at this week’s key meeting of the Federal Reserve (November 1-2) and G-20 (November 3-4).
http://www.zerohedge.com/news/full-barroso-van-rompuy-letter-begging-g-20-money
Don’t worry, the G-20 will come up with, at the least, an ambiguous statement that they are committed to funding the EFSF and saving the day.  However, I’ll “take the under” on whether they actually do it.  More likely, they will simply ramp up the PPT to try and influence global PERCEPTION that something has been done.  Which should be easy, now that, as of today, the new head of the ECB is Mario Draghi, of ITALY!
No, readers, I really am not making this up.  Just as Italy, the third largest economy in the EU, is about to collapse, the ECB, in its infinite wisdom, chooses one of Italy’s main financial architects to “save Europe,” and for that matter the entire Western banking system!
Please read Mr. Draghi’s bio in the link below, but only do so after your last meal is well-digested.  While serving as Secretary of the Italian Treasury during the 1990s, he played an instrumental role in repealing Italy’s version of the Glass-Steagall Act (from 1936), after which he joined GOLDMAN SACHS for five years, before becoming governor of the Italian Central Bank in 2006.  Yep, the world’s finances are in great hands.
http://www.zerohedge.com/news/guest-post-mario-draghi-hawk-whom
And speaking of Italy, that debt-infested, boot-shaped catastrophe-in-waiting, apparently it didn’t get the memo about the successful bailout of Europe last week.  It’s bond yields are SOARING this morning to multi-decade highs DESPITE continued ECB intervention, and are GUARANTEED to go much, much higher.  At some point soon, its credit rating, under the weight of $2.3 TRILLION of debt, will be downgraded to junk, its status as an EU member will be revoked, and its former currency, the lira, will return to circulation in HYPERINFLATED form.
http://www.zerohedge.com/news/european-implosion-resumes-italy-firmly-vigilantes-sights
…and if you don’t believe the Italian bond rates, take a look at the stocks of their largest banks…

…and don’t forget which country has the largest exposure to Italian debt.  I’ll give you a hint, it starts with an “F”…
http://graphics.thomsonreuters.com/11/07/EZ_BNKEXP0711_SB.html
Speaking of PIFIGS, let’s see how confident the world REALLY is about prospects for the great Greek bailout to come to fruition.
To start, it looks like the Greek citizens aren’t too keen on its banks’ prospects following massive debt writedowns…
http://globaleconomicanalysis.blogspot.com/2011/10/lines-to-withdraw-deposits-queue-u
p-as.htmlutm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Mishs
GlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
…while the German Supreme Court ruled Friday that funding the EFSF with taxpayer funds is unconstitutional…
http://www.zerohedge.com/news/german-constitutional-court-halts-efsf-approval-issues-temporary-injunction-further-bailout-dec
…and rating agencies vehemently dispute the puppet ISDA’s ruling that a “voluntary” debt haircut does not constitute a CDS “credit event”…
http://www.zerohedge.com/news/euro-gyrates-fitch-announcement-greek-50-haircut-be-event-default
…meanwhile, with all the efforts to prop up Weekend at Bernie’s Greece, the other PIFIGS are not-so-subtlely whining that they, too, want taxpayer funded “haircuts”…
http://www.zerohedge.com/news/portugal-next-improverished-piig-demands-us-assistance-debt-haircut-come-next
In other horrible news, let’s cut to the Far East, where Japan engaged in yet another round of BLATANT market intervention this morning, taking the Yen down 4% in MINUTES in the middle-of the night on a SUNDAY NIGHT (sound familiar), not much different than what the Swiss National Bank did last month with the Franc.  The competitive currency devaluation game will continue until ALL fiat currencies are destroyed, and I mean ALL, Chinese Yuan included if they choose not to back it with gold.
http://www.zerohedge.com/news/yentervention-time

Remember, there is NOTHING more bullish for Precious Metals than Central Banks devaluing their currencies, so this temporary PAPER decline yields yet another opportunity to buy more PHYSICAL gold and silver.  Just ask management of the Central Gold Trust (GTU), which priced a $180 million offering Friday morning at just a 4.5% discount to Thursday’s closing price, one of the better offering prices I have seen for this fund.  GTU now has a $1.3 billion market cap, and trades at a 2.5% premium to Net Asset Value (down from an 11.5% premium at the time of the offering).

http://finance.yahoo.com/news/Central-GoldTrust-Increases-iw-1196509858.html?x=0

On to my beloved United States, which luckily for its few remaining LEGITIMATE market participants, has the most maniacal PPT, and most egregious accounting fraud in the world, not to mention a “temporary hall pass” while the world focuses on the highly flammable European financial drama.

Of course, if one took the time to READ about what’s actually going on here, they might ask a question or two about why the Dow is up 2,000 POINTS in three weeks.  Call me crazy, but something tells me it is not a good thing when foreigners respond to “Operation Twist” by selling any and all U.S. Treasuries they hold back to the Fed…

…nor when another Wall Street derivatives company goes bankrupt (owned by ex-Goldman Sachs CEO, and ex-New Jersey governor Jon Corzine, no less)…

http://www.zerohedge.com/news/clearinghouses-told-prepare-mf-bankruptcy-risk

…nor when the ECRI Index forecasts plummeting economic activity…

http://www.zerohedge.com/news/leading-indicators-predict-another-fed-intervention-or-eps-rediscovers-gravity

…nor when last quarter’s 2.5% GDP “growth spurt”, which again I believe was a statistical LIE, was supported SOLELY by spending money that people do not have.

As you know, I am not a fan of Peter Schiff as a person, but as a market forecaster he is one of the best.  He maintained earlier this year that the MORAL HAZARD of allowing homeowners to not make mortgage payments while still remaining in their homes (because banks don’t want to write down housing inventories) would cause many insolvent homeowners to max out their credit cards under the assumption they would have such debt forgiven in their inevitable bankruptcy proceedings.

http://www.zerohedge.com/news/chart-day-savings-rate-drops-december-2007-levels

And my final note about the Pathetic States of America is that I KNEW that as soon as Obama announced a troop withdrawal from Iraq, such troops would IMMEDIATELY be redeployed, and was very vocal about it when discussing the topic.  With U.S. unemployment at RECORD LEVELS, and likely to surge significantly higher, the ramifications of bringing home these young, unskilled, and in many cases physically and mentally damaged men and women to compete in the already tight labor force could be catastrophic.

http://wsws.org/articles/2011/oct2011/iraq-o24.shtml

To wit, it just took SIX DAYS from Obama’s “grand withdrawal announcement” before stating that most of these troops would be redeployed in the Middle East, presumably ready for WAR with Iran when the next false flag event is perpetrated, or perhaps sooner…

FINALLY I have reached the topic of today’s RANT, INDIVIDUALISM.  It is not often an author inspires so much THOUGHT, although a few have done so over the years, such as Follett, Conroy, and Michener.  Ayn Rand has certainly done so, profoundly impacting me with Atlas Shrugged, which by the way is out on DVD November 8th, and now with Fountainhead, which I am 63% done with.

Unlike Atlas Shrugged, which describes the ultimate fate of SOCIETY, Fountainhead relates to the INDIVIDUAL experience within that society.  Whilst the theme of Atlas Shrugged is that government will ultimately destroy society, Fountainhead describes how society is made up 99% of people with no independent thought or ingenuity, and 1% that control them or are destroyed for not being controlled.

Yes, there are a handful of protestors against TPTB, such as the “OWS” movement in New York and other cities around the nation.  But these people are NOT “the 99%,” as they claim in their posters, but the 1% that UNDERSTANDS (excluding hangers-on and hippies looking for a good time).  They realize Washington and Wall Street have destroyed America, and only seek equitable treatment for all citizens, contrary to the hateful, and stupid criticism they nearly universally receive.

http://www.rollingstone.com/politics/blogs/taibblog/owss-beef-wall-street-isnt-winning-its-cheating-20111025#ixzz1cIfMhCxl

THOUGHT is what is most desperately missing in today’s society, and THOUGHT is what I seek each day when I scour the internet.

THOUGHT is what has made me a leader in the movement to PROTECT citizens, and what drives me to tirelessly spread my word.

THOUGHT is what will enable you to survive, and even thrive, in the upcoming economic calamity, one which will make an historic impact on the world.

YOU are part of the 1% that THINKS, UNDERSTANDS, and has the capability to ACT before it’s too late.

PROTECT YOURSELF, and do it Now!