world economy a big casino...., page-5

or this view from 'Safehaven'


"No warning can save a people determined
to grow suddenly rich." - Lord Overstone


"Baking the news cake" for palatable reception and consumption is an art form perfected for specific markets, based on the cultural and educational profile of the local, national or even international consumer. CNN, CNBC , NBC and Fox News are little more than propaganda organisations serving up a daily "McNews" for the generally poorly read and travelled, culturally naïve, and generally poorly educated US consumer, on the basis that those who eat junk, drink junk, read junk, watch junk and listen to junk deserve, well... just more junk? Mr. Hitler and Dr Goebbels would have been heartily jealous of such a malleable and docile, if not to say almost bovine populace, who could readily absorb such shallow rubbish and believe it all! Unfortunately, the insidious US style media is polluting the planet in the global attempt to produce a "dumbed down", ignorant, poorly educated and malleable global serfdom, hooked on trashy TV and video entertainments and other such puerile nonsense, and moreover, up to their necks in debt and easy credit. Again, one is led to ask why? Aren't we living in the enlightened 21st Century?..... or, are we regressing to type, as demonstrated over thousands of years of human suffering at the hands of our own dubious species?

Over the past four years, since the great stock market bubble topped out at over 11,000 on the DOW, innumerable commentators have been expecting the inevitable crash. However, time and again the Fed has wrong footed the bears, making apparent fools of many experienced and intelligent commentators, including lesser mortals like this writer. To a large extent, very few people are listening to the bears as a result of their dismal track record. Complacency is currently rife, as the markets defy financial and economic logic, and its economic paradigms and models are apparently refuted by the "new economics" of never ending FIAT expansion, akin to medieval alchemy. However, even at the physical scale of stars and galaxies, periods of great expansion are followed by sudden and very rapid implosion, as gravitational forces overcome spent nuclear reaction. In this writers' view, the end of the great global FIAT experiment, based on the United States Dollar, will end, not as most people think and hope for, as a well orchestrated gentle descent, but suddenly and very brutally like a collapsing red giant reduced to a white dwarf or X-ray star. Furthermore, an event, or a multiplicity of major events, such as a continuing rise in the price of energy and oil and/or sudden economically forced global rebalancing will be the trigger for a collapse of the entire financial "house of cards". This will destroy all the paper currencies, without any exception, as they are all interlinked within the global markets, and none are backed by gold or anything else of finite defined value. In this circumstance, Richard Russell's views on gold and silver rise to the fore, and he is to be much commended for "sticking to his guns". In this writers view