Written by Jeff Nielson Tuesday, 17 September 2013 12:44
Tomorrow, outgoing Federal Reserve Chairman B.S. Bernanke will do one of two things (while his “friends and supporters” continue to sharpen their knives). He will either (formally/finally) announce the absurdly-hyped “tapering” he has promised; or he will back-down on yet another Exit Strategy – as he has done again and again for the past 4 ½ years.
My own prediction, expressed in my last commentary is that this time the Boy Who Cried Exit Strategy will actually follow through on a promise – because he has been ordered to detonate the severely-crippled U.S. economy. The “signposts” couldn’t be more obvious: record equity prices; maximum leverage in markets (can you say “bubble”?). The perfect time to Fleece the Sheep.
As was pointed out in that commentary, even the propaganda machine itself has now explicitly stated that this is the worst possible time to begin “tapering” – and they (deliberately) left out the best argument to make that point. The U.S. pseudo-recovery (in historical terms) is already well past its expiry-date.
This detonation is being timed when the government knows that a cyclical downturn must commence in the U.S. economy, compounding all the structural weaknesses which have never been addressed: mass unemployment, Great Depression-wages, saturation insolvency at all levels of government, etc., etc., etc.
Readers have also been warned about the utterly predictable chapter to follow this staged crash: “bail-ins” come to North America. South of the border; the Wall Street Vampires have created assorted asset-bubbles – to entice the “suckers” whom P.T. Barnum assured us are born every day, and create plenty of their own “bad debts”, for which they will (once again) demand indemnification.
North of the border, as has also been previously explained; Stephen Harper has manufactured a fat, juicy housing-bubble – a direct “homage” to the previous U.S. housing-bubble, in that Harper has deliberately duplicated that blueprint of destruction in nearly every respect. Canada’s Conservative government has also been (by far) the most-blatant in declaring its “bail-in” intentions; crafting these rules-for-stealing into its current Budget. A “sense of urgency” perhaps?
As always, the Corporate Media propaganda machine never, ever asks (let alone answers) the question “what comes next?” As we are being marched toward a new, staged “crash”; it behooves us to look back at the last staged-crash – the Crash of ’08 – which the Banksters detonated precisely five years ago.
The promise when the stealing began (five years ago), when suddenly “too big to fail” mega-banks (subsidiaries of the One Bank) began pillaging our public Treasuries via “bail-outs” was simple: this will “fix our economies.” Five years later; we see every aspect of that first phase of stealing was fraudulent.
The mega-banks were never “too big to fail”. Such a term is logically/mathematically/economically perverse and absurd. What these Big Banks demonstrated in the most blatant terms possible (via blackmailing our governments for countless $trillions in extortion demands) is that they had become too big to exist.
We now see that the second half of this paradigm-of-theft was also, utterly fraudulent. The stealing done post-2008 was never/could never be honestly called “bail-outs.” By definition; bail-outs extricate the Debtors from their financial difficulties. Had this first phase of stealing actually been a bail-out; we would never have begun discussions for the second phase of stealing (“bail-ins”), because (obviously) it would never have been necessary.
The reality is that all of the “bail-outs” which took place in Phase One of this stealing were merely a down-payment in the eyes of the One Bank. The only reason that bail-outs are now “out” is because all of our public Treasuries have been emptied.
Written by Jeff Nielson Friday, 13 September 2013 13:06
Approximately one month ago; I wrote a piece entitled U.S. Prepares To Detonate Market Bubbles. The gist of that piece was that after pumping-up several new bubbles in the U.S. economy (and taking the Wall Street fraud-markets to record-highs) that it was time for the Banksters to detonate those bubbles – and cash-in (on the “short” side) on the way down.
Even more specifically, it was suggested in that piece that Federal Reserve Chairman B.S. Bernanke was being set-up as the Scapegoat for the market-crash to follow. Today, Bloomberg substantially bolstered this prediction with a headline of its own:
Fed Message Muddled as Misunderstood Taper Meets Slowing Growth
Here we have one of the most loyal defenders (i.e. pumpers) of Helicopter Ben now throwing him an anchor in his hour-of-need. Truly there is “no honour among Thieves.” The gist of Bloomberg’s article? Not only has Bernanke done a terrible job of “communicating” his proposed “tapering”; but he’s now preparing to ease back on the money-printing at precisely the wrong time.
The hilarious irony here, of course, is that it is media shills like Bloomberg which ultimately assume most of the responsibility for “communicating” the strategies of the various suit-stuffers in government and/or the Fed. Compounding Bloomberg’s hypocrisy; it has religiously supported B.S. Bernanke decisions over the past 4 ½ years to pull-back from any Exit Strategy (previously), and Bloomberg itself has been (had been?) one of the most-zealous cheerleaders in advocating “tapering” at this time.
But when the U.S. economy goes down; there will be only one “captain” remaining on board. All of the (other) Rats will have already deserted the ship which they (first) built and (then) sunk.
So the ending is already clear. The U.S.S. Titanic is about to be intentionally sunk (again), and B.S. Bernanke’s “fingerprints” will be planted all over the crime scene. Let’s take a closer look at the Script – since doing so says more about the Liars in the Corporate Media than it says about the U.S. economy (and Bernanke’s role in destroying it).
Bloomberg makes a good case as to why all of its own “tapering” hype has been absurd (and dishonest) from Day 1:
They [the Federal Reserve talking-heads] will probably lower their estimates for growth this year and next for the third consecutive time…What’s more, annual inflation has been running at least half a point below the Fed’s goal since December. And while the unemployment rate is falling, that’s mainly because some Americans are leaving the labor force.
According to Bloomberg – today – there was never a good reason to begin “tapering” at this time (and the six months of its own relentless hype which preceded it). Talk about Revisionism…of its own propaganda.
As always, Bloomberg’s economic submissions require translation. As has been clearly demonstrated in previous commentaries; there hasn’t been any “economic growth” in the mythical “U.S. recovery”. Among the many reasons this is obvious fantasy is that growing economies require more energy – not less – and energy consumption in the U.S. economy has plummeted during this supposed “recovery.”
While Bloomberg and the other Liars in the Corporate Media claim that U.S. inflation is “too low”; back in the real world soaring inflation is threatening to spin out of control at any minute – due primarily to the grossly excessive money-printing of the U.S. And the statement that “some Americans are leaving the labor force” is (shall we say?) an understatement.