A shout-out at The Burning Platform blog and their entry entitled ‘Gold’ :
“I believe we are two paradigm shifts away which may be one too many. 2008 was a tragic lost opportunity to make a systemic shift. We all know what happened. To reach sustainment, you have to kill the extractive-driven Ponzi, not prolong it. Nobody’s kidding themselves that the IMF/SDR monetary transition is anything other than a prolongation. Yes, some mal-investment and waste may be squeezed out in the shift from the old to the new regime. America’s decades of false prosperity borne of the petrodollar’s ‘exorbitant privilege’ will disappear, re-incentivizing and realigning productive economies with prosperity that they rightly earn. So there is a modicum of equitability in this shift. However this monetary transition is not ‘structural enough’ in its ambitions. We need a paradigm-shift. We’re getting, best case, incrementalism.”
~ Norman Ball
This was from and expanded comment at the Philosophy of Metrics blog HERE:
To kill the Ponzi, mankind has to weather WW3 because the bankers will not relinquish the model willingly. The nature of monstrous and habitual greed is such that it will squeeze blood from a stone first before it admits to the self-destructiveness of that approach. Greed is blind, as they say.
This is where the Martin Armstrong thesis holds credence. Governments around the world will clamp down on their respective societies, in effect hunting for quarters between the sofa cushions. Their ravenousness for new revenues will kill the golden goose. Remember too, the governments are essentially owned by the banking class. So they are naturally inclined to criminalizing the debtor class. The rapid onset of the surveillance state is a tool that will be deployed again to the wrong segment of society. The bankers are digging in for a far more adversarial relationship with their afflicted host-populations.
For a time there, I co-opted your ‘rent-seeking elite’ phraseology JC knowing that I was contorting it a bit. So respectfully, I’m returning it back to its original owner. Pardon the dings and thank you for the use of it. I’ve launched what I’m calling the Janus Class. They are the caretakers of two contrary narratives, i.e. their purpose is to hold up institutionalized duplicity. They do the bidding of the upper elite, yet democratic pretensions still oblige them to pay lip-service to we, the underclass. This is why we continually scratch our heads at the shameless hypocrisy we hear out of their mouths. They are not built, generally speaking, for the multi-generational long haul (apart maybe from the occasional dynasty forming, the Clintons for example). The surveillance state will mitigate the need even for lip service. For the moment, they must continue a charade that is looking ever more threadbare by the month.
So, here are the two million dollar questions as I see it:
1. Will the monetary regime change with its re-balancing of debt, resources etc. be enough to ameliorate the powerful global deflationary pressures we are seeing around the world? Or will we be compelled instead into the profound and climactic supply/demand destruction that only a large-scale global conflict can deliver? Remember, the twin benefits of a war is that it blows up overcapacity (i.e. a deflation-killer) while affording the opportunity to capture Eurasian resources for more Ponzi fun. That’s what I call two bangs for your bullet. The downside? Oh yes, the cessation of mankind, but let’s not dwell on the fine print.
2. In this age of thermonuclear escalation, will the Upper Elite shift from their traditional dialectical/Darwinian repose and actively intervene to control the boisterous children down below? WW1 was a slow-motion meat-grinder. The hoi polloi could afford a leisurely pace and the common man carnage wasn’t exactly bad for business either. Unless the top elite are sitting on a cure-all for leukemia and radiation sickness, they better get off their asses and inject some discipline into the equation. I am not so morose that I can bring myself to embrace the Joel Skousen scenario that a first strike has been strategically embraced and our leaders will emerge godlike from bunkers to rescue a handful of traumatized proletariat. I note that Skousen sells disaster products. Let’s hope he’s engaging in a macabre marketing campaign. Sorry, that might have been three questions.
The locus of this parental intervention will emanate from the BIS, if it emanates at all. The top elite need to hurry up and earn their money –for all of us.
Read more HERE…