"If you pray hard enough, water will run uphill. How hard? Why, hard enough to make water run uphill, of course!"
Lazarus Long
Euro ministers are praying hard like you. When you don't have the foggiest idea how to fix a broken system, that's all you have left. Their meeting ended with the usual nonsense about how they were now on the road to a solution, but it was obvious that they didn't even understand the problem (like you), much less have a viable solution.
Common sense is uncommon.
Until the European ministers realize that the euro is the real problem, they will continue to prescribe unworkable solutions which destroy lives of what should have been productive citizens, polarizing the masses and forcing them to organize into resistance and fight insanity on the only level they have available.
If the so-called “leaders” of Europe continue on this path, there will be a civil war in Europe. In history, there are similar situations. They were always resolved by the discontented emigrating. But, that was before Spaceship Earth became overcrowded and that solution isn't available anymore. The only alternative in the face of total governance failure is violence.
Gold has been a good barometer for the overall economy. When gold falls out of favor, as it did in 2008 when it plunged 33%, it's a good sign that the economy is in danger of simply freezing up. Currently, the pattern looks very similar. A 33% plunge off the last high would target gold to 1286. But, it could be lower than that. In 2008, the Fed bailed out the system (and, like Atlas, holds the world's financial system on its shoulders today because banks dare not admit what many already know: they are insolvent). The Fed probably won't be able to bail out the world this time around.
The greed of MF Global and their total disdain of law tells me that Wall Street has learned zilch about ethics from the 2008 experience. In fact, it has learned that it doesn't matter how much money you steal from clients, you will be bailed-out.
Jesus Christ is the spiritual bail-out king for most Westerners.
None of the nonsense laws (like Sarbanes-Oxley) passed by Congress have any meaning to the criminals. The laws only hamper the ability of the honest CEO to make a profit. And, none of the financial reform legislation passed after the 2008 debacle prevented MF Global from stealing well over a billion dollars from its customers. One month, the money was there, then, the next month it wasn't. If you believe that, you believe the Tooth Fairy took it or Jesus Christ will rescue you.
"What constantly rescues me makes me weaker".
Dr. John Hussman |
