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The objective is nothing less than for the Anglo-American banking cartel to control the world's money supply. One major currency is almost as good as one world government.
Fed Extends Dollar Liquidity Swaps Until August 2011
Cry havoc and let slip the dogs of currency war.
MarketWatch
Fitch May Cut Greece Debt to 'Junk'
By Sue Chang
December 21, 2010
SAN FRANCISCO (MarketWatch) -- Fitch Ratings on Tuesday placed Greece's BBB-long-term foreign- and local-currency issuer default ratings on downgrade review, raising the possibility that Greece's sovereign rating may be cut to junk in the near future. "A Rating Watch Negative indicates that there is a heightened probability that Greece's sovereign ratings will be downgraded," said Fitch in a statement. The review is expected to be completed in January and will focus on Greece's fiscal sustainability, the country's economic outlook and the political will of the government to carry out reforms, Fitch said.
"And Caesar's spirit, ranging for revenge,
With Ate by his side come hot from hell,
Shall in these confines with a monarch's voice
Cry 'Havoc!' and let slip the dogs of war;
That this foul deed shall smell above the earth
With carrion men, groaning for burial."
William Shakespeare, Julius Caesar, Act 3 Scene 1
US equities seem to be drifting higher on very low volumes, led by the SP 500 futures which are reaching up for 1251, the better to paint a bright holiday season for the Wall Street insiders and their political cronies.
The primary industry in the US is now financial engineering (less euphemistically known as fraud), and it appears that business is still brisk and quite profitable despite the recent crisis.
I have some expectation of a rather sharp decline in equities, but I will not get out ahead of it, given the Fed's willingness to keep providing fresh dollars to their banking friends who are papering their way to prosperity at the expense of the many.
Bloomberg TV is running an interesting special on gold today titled "The Dark Side of Gold."
As one might expect it contains the usual claims that gold is in a bubble and poses a danger to the public in a variety of dimensions.
What I thought was a bit unique is that they are now blaming the entire gold rally on the creation of the GLD ETF.
Indeed, Carol Massar said today that before the gold ETF "gold was trading at $400 and the only people buying gold were conspiracy theorists who were hiding it in their pantries."
In her defense Carol, along with a number of the talking heads on financial TV, are just news readers, and one might as well blame the weatherman for reading the Weather Service forecasts.
But I don't suppose it might have occurred to whoever wrote this 'special report' to mention that the central banks, who had been steadily selling their gold reserves for the last twenty years, led by the US and England, had started to become net buyers of gold led by the BRIC countries, an event of tremendous significance among many others of a general change in the markets and the beginnings of a largely unreported 'currency war.'
And it is my experience that when a writer or analyst starts reaching for ad hominem remarks of a non-satirical nature that they are just plain out of facts and faltering in a desire to win an argument that is running against them.
This reminds me of what the dean of financial letters recently said about a similar performance on Bloomberg:
"I listened to Kitco's Nadler on the Bloomberg channel this morning. He's been bearish on gold for months, and I thought he sounded like a know-nothing fool today. Why didn't Bloomberg interview someone who's been bullish and right about gold?"
Richard Russell
The big changes are almost never caught by those close to the action, or with a vested interest in some aspect of the status quo that blinds them to change. It is the nature of the big changes, what makes them 'big.' This reminds me so much of early November 2009 when economist Willem Buiter launched into a couple of irrational rants about gold bullion in the Financial Times, a few weeks before shed his Maverecon status to join the ranks of Citigroup.
Buiter Still Fitfully Obsessing About Gold
When 'news outlets' or 'analyst/economists' with ties to Wall Street start coming out with such outlandish statements, gold may likely be going another leg higher in the following months.
And a bit of a mystery is why there is almost never any mention of silver, which is making gold look like a bit of a slacker by comparison as an emerging store of value for wealth that fears the arbitrariness of the Wall Street dominated global financial system.
