THE LIBERTARIAN ENTERPRISE
Number 571, May 23, 2010
"The old order is clearly dying and a bright,
raucous, energetic new disorder
being born as we watch."
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Thank you for printing my recent essay on toting up the train wreckage from this slow motion train wreck of world economies, sovereign debt, and national currencies. Any of your readers who have not begun to buy gold and silver coins for physical possession in their homes, and do not have a supply of ammo, food, water, fuel, bug-out bags, arms, and armour should be getting those things in hand very soon.
I am writing for two reasons. First, the EU euro has continued to decline so that the US$1 trillion of bailout money for Greece and the like which I had reported previously continues to become less and less valuable. What the US-funded Internationalist Monetary Fund and other central banking gangsters have pledged is, naturally, EU euros. In point of fact, 750 billion of them. Well, at $1.22 to the euro, those are only $915 billion. And falling.
By the time this gets published (Sunday or so) it won't be the same euro that is now. Check xe.com or your favourite finance site for the current exchange rate. If euros are even on offer.
Today I learned from my friend Doug Casey's outfit that there is a new essay published by Egon von Greyerz of Matterhorn Asset Management.
Here is a brief excerpt:
The latest EU and IMF package of $ 1 TRILLION (Euro 750 billion) is
yet another futile attempt by governments to abolish poverty by
printing paper. Let's be absolutely clear, this money does not exist
and the EU governments are hoping by declaring such a large amount
that they can con the Wolfpack speculators. At this point the EU has
just picked a large round figure of out the air. But when their
bluff is called by the Wolfpack and the next attack happens, EU
governments will after initial huffing and puffing start printing
unlimited amounts of paper.
It may be a favour to your readers to see the following chart:
In it, von Greyerz makes the point that the official national debt numbers are badly under-stated. In fact, the real figures of actual liability are much larger for all the countries I discussed in my essay. I did note that the data I was using was from the CIA world fact book, by way of Wikipedia. Naturally, the above-linked image illustrates that not only is the CIA still lying but to what an extent.
As von Greyerz notes in conclusion, "It doesn't matter however much governments cut expenditure or raise taxes, all these countries are insolvent and nothing can save them."
I regret the vast effusion of blood and the enormous suffering that approaches.
Hint: it DOESN'T mean 'Yes, we can!"
A few years ago the Rio Grande was pretty much dry at the Texas New Mexico border. Between Elephant Butte and Caballo Dams plus a variety of irrigation projects it does get shallow around Anthony even in relatively good years. Liberal spokesmen political types stood on the dry river bed and expounded that this was the consequence of anthropogenic global warming and that we need to vote for the candidate they were supporting so that he could save the world from AGW.
This year the Rio Grande looks to overflow its banks. The sandbars at the bend above downtown El Paso and Juarez that are usually visible aren't. Must have been a lot of snow this year up in the Rockies. Anyone who knows desert weather and climate conditions should have seen it coming and probably did.
Some years the river is all but dry others it's quite full. Things change. People change. On May 18th 2010 establishment incumbents lost their parties' nomination for the November election. At least in theory the next Congress will reflect "Change you can believe in," courtesy of the American people not a media appointed Messiah in the oval office. Hopefully they will be more pro liberty.
A cooler wetter winter left he Rio Grande full and hid the sandbars between El Paso and Juarez. Changed political climate has exposed that too many incumbents are fools.
They were boating on Fool River.
Burn Detroit Burn... To The Ground... Forever!
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