By Enviot Von Beardio of Compare Like Palestinian lands, the silver market has for many decades been occupied by the imperial forces of the robber-baron ruling class. Whilst naturalism or secularism spreads across the cultural landscape in the west in terms of religion, fundamentalism in terms of the market is still very much in vogue.
Anything goes is the philosophy, as the robber-baron ruling class attempt to restore confidence in not only the U.S. Dollar, but the fiat currency system generally—at least for a short time so they can use the current units of exchange to buy up resources and chunks of culture. One way to do this is ensure that fear drives prices and people leave certain markets at the mercy of da boyz, as happened in the MF Global tragedy. People, especially people in precious metals, jumped ship from the paper exchanges, as many more people joined the throngs who understand that all markets are subject to intense manipulative pressures.
This left the JPMorgan and HSBC with a wide-open killing field. Having scared more smart money out of the paper precious metals exchanges, by collapsing MF Global so as to avoid a default on the Comex, they have gained even greater control of the poor man’s gold, silver.
In the 1970s, in the face of falling profits, U.S corporations aborted a process of hundreds of years of development in favor of a process of de-industrialization and de-development, except for overseas where manufacturing continued. Of course, this trend was very profitable but not very helpful for the American people.
So, with the American economy devoid of productive power, the establishment had to turn from the model of what a bank ought to do in a statist-capitalist society, which is give fair loans so people can build-up their lives and hopefully improve the lives of those around them. As this unfolded, in the fifties and sixties, the state sector spurred the “I.T. Revolution.”
The sharp change of the seventies gave rise to enormous banks who steered the economy not by investment and production, but by eCONomic manipulation. This degradation led to concentration of wealth in the hands of high-finance, which does not help to create economic output, but instead sucks in the capital that might otherwise create output. Along with this economic power came control of the political system.
This literally 1/10th of 1% of the entire population picks what markets come to fruition, and which ones do not. With them gaining increasing amounts of power along the way, they dealt a serious blow to our society. People were still getting by,but only by way of a lot of debt.
Public events, debates and fiction are wielded so as to distract the population. In Washington, the deficit is not much of an issue, and, despite lots of efforting to make this a serious concern among the population, the people know this. The true issue is joblessness. Deficit commission will reach an agreement opposite of public wants or into an automatic procedure such as inflation.
Adam Smith said American and European merchant and manufacturers would go overseas to produce. He was right. What people don’t realize is that the bailout economy has lasted for decades—not just since the 2008 banking crisis. Citigroup, one of the most welfare-driven investment bank-corporate chimaeras, has been the beneficiary of bailouts since the early Reagan years. The U.S economy—and so therefore the world’s—long ago ran off a cliff, and has yet to look down, when, as in cartoons, the economy will fall further into a multi-decade depression.
A couple of years ago Citigroup urged their investors into their plutonomy index, which they argued was outperforming the stock market. They were onto something. Go long the ruling class or get off your ass!
The world is obviously today a plutocracy. The Occupy movement paints this as the 99% against the 1%, not the actual numbers “but the right picture,” according to scholar Noam Chomsky.
People with power do not easily let go of it, unless they must. And for them to have to, that takes a lot of work.
Go long the people, Buy Silver, and Occupy A New Monetary Standard.