When I hear the spokesmodels on financial television talking about the need for austerity and 'tough love' for the rest, I always listen carefully to see if I can hear one word about reform, and the curtailing of the financial sector imbalances, excesses, and fraud that actually brought the world economy to where it is today.
And if I do not hear it, then I know they are just spinning out more propaganda for the monied interests, who have taken their loot, privatized the gains, and now wish to continue to socialize the losses, the public and the country be damned.
One way to protect your wealth from this ongoing plunder and confiscation is to stay as far away as is possible from the Wall Street and London money centers, the heart of the Anglo-American banking cartel, and to keep some portion of it safely in hard assets with high liquidity.
This course is not without its own concerns. As we can see clearly from the chart, the precious metals are subject to wide swings of price manipulation by the hedge funds and the banks when it suits their interests. Such is the state of the paper markets and slack regulation we have today.
These much abused markets and exchanges may fail, and possibly quite spectacularly, and the Wall Street bankers and their politicians will look around and say once again, 'We did not know, who could have predicted it? Don't worry, we have a plan. But it will require your sacrifice.'
Why not? It has worked every time so far.
The Banks must be restrained, and the financial system reformed, with balance between individuals and the corporations restored to the economy, before there can be any sustained recovery.
