Nomi Prins: All the President's Bankers

This is a walk through the twentieth century, and how the United States became, by design, a combination military, industrial, and financial global superpower.  And how the US dollar hegemony was created over a number of political administrations by groups of well connected, powerful families and friends.

It may seem a bit long, but she opens it for questions about the 48 minute mark, so it really is not. Nomi speaks briskly with many fact laden vignettes and scenarios that help to explain how the current system has evolved.

The facts she brings out about the 50's onwards were sometimes new to me, and absolutely fascinating.   About minute 40 she shows the culmination of this historical process with the Clinton Whitehouse, and begins to describe where we are today, and how it appears that the problem will be insoluble without some major events taking place to change this alliance in power between the financial and the political.

 

The talk served to solidify some of my own thinking, and removed some of the shadows of doubt that I have had about where things are going and why.

 

She does is not able to delve into the international ties between the global central Banks, particularly between London and New York.  She instead concentrates on what she might call 'the Big Six' of American Banks, which is a large enough subject itself.

I strongly recommend that you listen to it if you are at all interested in this subject.

 

 Or if you have the time to invest, you may wish to read her book which also sounds very interesting.  I have not done so yet, and I am not sure when I could get to it. 

 

But this video is a very good start, and will probably make you much better informed than 90 percent of the people out there.  Whether that is a good thing or not is another matter.

Gold Daily and Silver Weekly Charts - Take Your Stinking Paws Off Our Monetary Metals

It was capping time again, as gold and silver continued to chop sideways within a narrow trading range.  Ordinarily I would think they were coiling for a move higher, but these days gold and silver seem correlated to nothing but some fairly heavy handed price manipulation in New York and London.

Stocks drifted higher on bad economic news, moving without thought like a stumbling herd of zombies in The Walking Dead.

Bear in mind that tomorrow is a stock market option expiration, and the games were being played in selected stocks, including the miners, this week.

The big show is in September with the Alibaba IPO.  Road show starts 3 September and the IPO date is tentatively 16 September.   Biggest IPO ever.  Maybe a bell ringer.

The Central Banks have made a right mess of things in the US and Europe, haven't they? They can play the plausible deniability card all day long, like the politicians and CEOs who are fabulously overpaid and over privileged.  When things go bad they haven't been involved, it wasn't in their job description, and can barely remember their business address.

But as a powerful regulator and monetary authority, and a major influencer of the prevailing economic opinions,  they really have no excuses for the serial disasters that they have spawned, in the service of the crony kleptocracy centered around the Banks.  They have been taking the people's money, directly and indirectly, and handing it right over to the wealthiest few who caused most of the problems in the first place.  And remember, it was the Greenspan Fed that led the charge with the Banks to relax regulations and repeal Glass-Steagall.

The Anglo-American financial system reminds me of the original Planet of the Apes. The central banks are like the gorillas. They have all the horses and the weapons, and ride around and shoot and enslave the human beings.

Have a pleasant evening.

SP 500 and NDX Futures Daily Charts - Ancien Régime - Here Comes the Sun King

Stocks managed to build on their rally, despite some particularly ugly macroeconomic news this morning.

I seem to recall saying that it is hard to be too cynical about this market. It is running on low volume and algorithms that are largely focused on the short term technicals.

It is going to take something of significance to shake Wall Street out of its narcissistic love affair with itself.

Today President Obama announced that he is relaxing the restrictions against lobbyists directly occupying positions of power on Federal advisory boards for government policies. 

Perhaps he just wants to cut out the middlemen.  Or line up a few more post-electoral $100K speaking engagements.

How fitting that the Sun King announced this from Martha's Vineyard. 

Is there any promise or progressive policy that he has not carelessly thrown under the carriage of his imperial convenience for the pleasure of the moneyed interests?

As a reminder, tomorrow is an option expiration for stocks.

Have a pleasant evening.