News & Analysis
Is It an Elite Depression?
Economy Caught in Depression, Not Recession ... Positive gross domestic product readings and other mildly hopeful signs are masking an ugly truth: The US economy is in a 1930s-style Depression, Gluskin Sheff economist David Rosenberg said Tuesday. Writing in his daily briefing to investors, Rosenberg said the Great Depression also had its high points, with a series of positive GDP reports and sharp stock market gains. But then as now, those signs of recovery were unsustainable and only provided a false sense of stability, said Rosenberg. Rosenberg calls current economic conditions "a depression, and not just some garden-variety recession," and notes that any good news both during the initial 1929-33 recession and the one that began in 2008 triggered "euphoric response." – CNBC
Dominant Social Theme: All is well? Or maybe not?
Free-Market Analysis: In analyzing the memes of the Anglo-American power elite and its seemingly berserker attempts at creating global governance, we face the conundrum of whether what is going on is part of a larger plan or the crumbling of a plan. This is not just a question for the Daily Bell but for readers, feedbackers and others who see the Western world from the standpoint of elite control of financial, military and sociopolitical mechanisms.
When it comes to the economy, we believe the outstanding, or pre-eminent dominant social theme is "the Western world faces an economic crisis but with a steady hand at the top from wise central bankers and with citizens willing to take the tough medicine of austerity all will be well."
But is this so? The Great Recession as it is now called, has spawned numerous cliches in the mainstream media, many of them medical terminology – as the powers-that-be struggle to maintain control of the message. Thus far we would argue they are holding, but barely. And if the larger global economy continues to unravel, we would guess that the more optimistic messages themselves will come under increasing strain.
What is the messaging? The West, and especially the spendthrift European PIGS, are likened to patients with pathologies and the cure, of course, is seen as one of discipline and "getting back to the basics" of thrift and saving. This perspective is commingled, of course, in this day and age, between the state and the individual, so that there is unfortunately no clear distinction. Greece, for instance, is portrayed as a nation of spendthrifts and its government merely representative of the larger problem.
Currently, as we stated above, the viewpoints of many citizens of the West when it comes to the economic crisis are colored by mainstream reporting. (How could they not be?) But this does not mean the reporting is in any sense accurate. In fact, the Bell's perspective, and one that seems to have touched a nerve within the blogosphere, is that the powers-that-be attempt to maintain control of civil society via fear-based promotions that are in a sense marketed by an elite-dominated mainstream media.
These promotions of necessity provide an authoritarian solution that has previously been put in place, often some sort of UN-oriented "fix" via that organization's myriad dysfunctional agencies or affiliations. However, there are also global solutions available via "non-governmental organizations" and quasi-independent bureaucracies set up to enforce treaties, trade agreements, etc. As we regularly point out, people are induced to give up power and control over their lives via these fear-based promotions and thus become more amenable to the command-and-control enterprises that are conveniently provided.
Over time, we've placed one more overlay on our perspective. We concluded after a good deal of study of historical elements that the history of humankind is in large part one of effective communication. Those who wish to control society – and there have been elites trying to do this since the rise of city states – depend on the creation of various memes (and the conflicts that result from such belief systems). These memes (religious, political and military, etc.) generally tell a story that organizes society to the benefit of its leaders.
But once in a while, especially in modern history, communicative technology begins to outpace the themes that the powers-that-be have inculcated. An alternative message begins to circulate and people begin to question not just what they are told day-to-day but even their fundamental or core societal beliefs. These beliefs may have to do with the inevitability of state control, the competence of current leadership, the reality of deities or a deity and many more. It is hard for people to question their core programming but we would argue that during an era of significant communication upheaval, such questioning occurs.
The precursor for such questioning is the availability and information and points of view that have not been available previously due to elite suppression. This may have happened, as the Bell has pointed out during the era of the Gutenberg press (spawning the Renaissance, Reformation, etc.) and it is perhaps happening now as well during the era of the Internet. The process, we would argue, could be so far advanced in the modern era (having moved far faster that we expected) that it may not be reversible. While it would be easy for us here at the Bell to remain agnostic about elite promotions, we have taken up the challenge of trying to analyze the results of the collision between the Internet and elite dominant social themes as we have analyzed them.
We are trying to do what we suggest investors do in the 21st century, which is to evaluate whether elite memes remain believable (and thus viable tools for social organization) or whether they are beginning to crumble. What has been the result? The Internet is a most democratic place; the ever-increasing streams of traffic to the Bell would indicate that our perspectives on the economic crisis are, if not popular, at least compelling to a certain stratum of electronic readership.
We are not surprised, of course. We think such a historical perspective is a compelling one and is far more viable long-term than historical perspectives that emphasize sociopolitical trends, the "great man" theory of history etc. No, for us and for those feedbackers who stop by here (and educate us every day) modern history especially is a struggle between a powerful, monied, familial elite that uses an intergenerational toolkit to help control society and new technologies that broadcast information antithetical to elite theses.
So let us now return to the question we asked at the beginning of this article: Whether what is going on is part of a larger plan or the crumbling of a plan. Having decided NOT to be agnostic, we will answer tentatively, as we have before, that the elite plan insofar as the economy is concerned is "crumbling." There is no way that the powers-that-be in our estimation do not understand fully the ramifications of the fiat-money, central banking boom-bust system that has been foisted on the West over the past 40 years. But we think, as we have stated before, that the elite miscalculated the impact of the inevitable results.
Not for us is the prevailing point of view among the Internet's "conspiracy" sites that the powers-that-be are infallible or all-powerful. Enormous amounts of money and the ability to control governments (which we too perceive the elite has) are great advantages but the invisible hand of the marketplace itself is even stronger than elite control. This is yet a third overlay of analysis that we have offered and a most important one. If one concludes that the free-market itself is overwhelming the elite promotional agenda then further complexities arise and additional judgments have to be made.
It is our humble opinion that a market backlash against the West's central banking economy when combined with the truth-telling of the Internet is causing a historical rupture in terms of elite planning. We think it may even cause the elite to take a step back at some point, and to abandon what would seem their plans and timelines regarding ever-more-centralized Western governance.
We do not believe at this point that the elite is in control of events. It is a fact that the powers-that-be were panicked by the swirl of radicalism and discontent caused by the Great Depression. It is our perspective that World War II was possibly, in part, an elite solution to the discontent caused by the failure of the elite's central banking-oriented economy. But we do not believe that the elite is capable at this moment of fomenting another world war.
The wealthiest, elite families apparently seek control, not more "money." Control, in fact, is an organizational force that likely guides their actions. But they are confronted today by forces beyond their control. The market itself is undermining the West's central-banking (boom-and-bust) economy. And the truth-telling of the Internet is undermining the credibility of the system itself and the rationale for its configuration. In both Europe and America the same question arises: How can tiny groups of men (central bankers) predict the volume and rate of money necessary for complex economies? In fact, they cannot. Central banking is a form of price fixing that ultimately causes queues, scarcity, rationing and economic ruination.
Sometimes those in charge of this perverse system can "re-stimulate" by printing yet more money but not in this case. In this case, as we have argued previously many times, the bust is a generic one. Fiat money itself – and especially the reserve currency of the dollar – has been compromised. Inevitably, some sort of new economic and monetary system is going to arise. We have argued that it may well be gold based, or gold-and-silver-based and we see no reason to revise our perspective.
In the CNBC article excerpted above, we can see questions continue to percolate about what really is happening during this Great Recession. In fact, in America especially, unemployment is estimated at 20 percent or more. (We think it is even higher.) In Europe, the economic crisis has not abated and frustrations are building over "austerity" measures in Greece and elsewhere. Countries like Spain are taking desperate measures to prop up bond markets. Here is what the UK Telegraph had to say on the matter just yesterday:
Spain uses social security fund to prop up the bond market ... Spain is putting all its eggs into one basket, and if it carries on like this, we may start to see a lot of Basques and Catalans crowding into one exit. The state pension fund – the €64bn Fondo de Reserva, known as the 'hucha de las pensiones' – is buying Spanish sovereign debt at a vertiginous pace. The financial daily Cinco Dias reports that the share of the Fondo's total portfolio invested in Spanish government bonds rose from below 50pc in 2007 to 76pc in 2009. ... Evidently, Spanish savers are underpinning Madrid's Treasury auctions, whether they like or not. It is they who are mopping up the debt along with the European Central Bank as foreign creditors stay away. The Bank of New York Mellon said that its iFlow data on bonds reveal that foreign demand for Spanish debt has "dried up" again after a brief recovery in July. There has also been some "net selling" of French bonds. ... We will hear more of that Gallic sub-plot over the next year.
In America the situation does not seem much better. While it is always difficult to divine Federal Reserve intentions, we began arguing well over a year ago (long before it was popular) that the Fed was losing credibility and that it would come under significant pressure in terms of its operations. We would argue this has indeed happened and that the result is increasingly one of stagnation. The Fed, and Ben Bernanke himself, are afraid to take bold steps because of the pressure of the attacks that are underway. The Fed as an institution is somewhat paralyzed at this point. Yesterday an interesting article was issued in the US Philadelphia Bulletin on this matter, as follows:
The Federal Reserve's Historic Announcement ... Mark it down. At 2:15 p.m. on Tuesday, August 10, 2010, the U.S. Federal Reserve made a historic announcement. It signaled that the central bank was going to "preserve the size of its balance sheet." The announcement didn't sound all that dramatic, but don't be fooled. In the two subsequent days, the stock market fell over 300 points, and the price of gold rose $20. The Fed's balance sheet, which historically consisted of nearly 100 percent U.S. Treasury securities, has grown in size from about $850 billion to a towering $2.3 trillion (or $2,300 billion) currently. In the middle of the financial crisis two years ago, the Fed expanded its holding of securities by purchasing lower-quality, mortgage-backed debt securities primarily from our nation's domestic banking system. The need for this balance sheet expansion was to provide massive liquidity for our entire financial system. ...
The political class in Washington will see the Fed's announcement as a potential gold mine. They will no doubt attempt to mine it for all it's worth. The significantly rising risk is that the accumulation of future government debt attended to this process will result in hyperinflation rather than a garden-variety, modest inflation. Hyperinflation occurs when there is a total collapse of confidence in a currency. A central bank that is willing to simply print money out of thin air to finance unlimited amounts of debt will eventually undermine the confidence in the currency being managed as lenders eventually seize on the realization that they will never be paid back in anything other than worthless paper. The road to hell is indeed paved with good intentions.
In this article we have presented an argument that the current economic system is not rebounding as the mainstream media has advertised. The twin forces of the Internet and the free-market itself have provided a powerful countervailing force to "recovery" (or even claims or recovery) – and we expect this state of affairs to continue. The power elite that has evidently and obviously organized the current Western economic system has a stake in its survival; we would argue that while a certain amount of chaos is appreciated by the elite as it strives for evermore financial consolidation, the kind of chaos that now threatens the system is beyond what was expected.
What can the elite do? A world war would doubtless kick-start the Western world's monetary engine (as books like General Smedley Butler's "War Is a Racket" explain) but in the nuclear age such a war is difficult to mount. The unraveling of the current system may eventually give rise to calls for a new economic system, but this is not the 20th century. A convocation of wise men will only fuel the current anger and disdain that many have for the current central banking economy. The alternative, as we see it, is to take piecemeal steps toward "something else" – and this the elite may be trying to do through the IMF and its SDRs. But even here, there has already been considerable speculation as to what the IMF powers-that-be have in mind. Where has the speculation occurred – on the Internet of course.
Conclusion: The apparent tools of the elite – war, economic chaos and dominant social themes – are increasingly of questionable value in the 21st century. We do not argue that such tools are useless or that the elite will not succeed in maintaining the control it already has. But we do submit that things are not getting any better and that they may even get worse. If they do, the ramifications could be as meaningful as anything that happened 500 years ago with the advent of the Gutenberg press. This is what we think people should be paying attention to. The next few years – even the next few months – could be a critical time for Western economies and even for the larger elite configuration of society itself.
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Posted by Weeble on 08/30/10 07:43 AM
I believe David to be Goliath.
Click to view link
I also believe that Bill Ross, if he added the illogical Phi (the Golden ratio) into his mathematical calculations, would get a resultant Fibonacci-like curve to his conclusions that would send him back to the drawing board. His presence here is welcomed and necessary for all to see shrill morph into skill. A sort of case in point on self control.
Here it is Bill Ross: you imagine that plus 1 minus 1 equals zero, and that the magic occurs in varying degrees between the two. Very "double entry accounting of you". If you take the absolute value (negativity removal) of these 2 numbers, your calculations now build on each other. 1 plus 1 equals 2. Do it again, now you have 3. See Phi, then imagine Phi is behind it. It is the magic that is nature, Mother Nature. If we can see logic in an illogical concept, then we are well on the road to realizing we are all prime numbers. I am sure you can concur with that, Bill Ross, being an math whiz and an engineer. It is as easy as 1, 2, 3, 5. Do not look within prime numbers, but outside prime numbers.
I may be a Jack Of All Trades (and Master Of None), but I feel I am more like AmanThatDoesn'tFitIn. Logical mixed with illogical, possible mixed with impossible, fear mixed with hope.
Click to view link
I just hope that Plastiki picks up 5 rolling stones, and starts to laugh his head off.
Oh, and DB, thanks for the ultimate Kudos (wit, real wit). I am already laughing my head off at my automatic writings. They don't come from me, but from everyONE. And are you wondering why I picked Robert Service? The Steve Forbes thread and the Matiwane feedback was a complete accident, yet necessary to prove anything can be twisted and tied into a thought to make a nice wrapped gift. Down periscope.
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Posted by AmanfromMars on 08/30/10 03:58 AM
Oops, Sorry. That last paragraph posted by AmanfromMars on 8/30/2010 2:39:40 AM should read .....
"Err, is that irony or sarcasm, DB, or both and something else, for it is beautifully ambiguous .... which is one sticky, sweet gem of a sublime honey trap to armour and protect and equip any SMART Spidery Web? There's a hell of a lot being taught and practically given away for free here and the young, just like all in youth, have a lot to learn about Life and its Drivers in LOVE, and ideally from those who are Older and Bolder and IMPassionately XSSXXXXPerienced."
And I just love your laid back and practical style, Greg Colvin, which is a perfect accompaniment to the Daily Bell's ..... progressive humanity and proactive humility?
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Posted by Greg Colvin on 08/30/10 02:42 AM
I'm an engineer too. Shrill rhetoric goes nowhere with me. And I don't find his logic very good either: mostly redefined words and tautologies. And when he goes to all-caps... But he's a grownup, and can do what he wants. Most likely I'll skip his posts in favor of the many more cogently argued ones I find here. Thanks.
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Posted by AmanfromMars on 08/30/10 02:39 AM
"DBs last reply was as follows:
"All right, wait a minute. The Internet is a new factor and one that is actually undermining elite control. So NOW when the elite attempts to rapidly consolidate authority it is activating or reinforcing the very forces that are in opposition. It is like a failing feedback loop. Very good. The faster they go, the more they hurt themselves. A significant point and quite subtle. Why couldn't you write that Weeble?"
Although that is getting very close to the paradox, I think it is not quite there. DB's emphasis was on the elite doing something wrong, when in fact what I m trying to say is that they are doing something that is now out of their control. Up till now, they controlled the Western world. They did not control Cuba, Afghanistan, Iraq, and Iran, as their central banks did not play the elite game and were showing them up.
Now that the noose is tighter, the world domination paradox will kick in. But it is a natural phenomenon or control mechanism of the planet. Earth. We are part of it, whether we believe it or not. We can be active or passive players, but we are players (as Lila indicated)." .... Posted by Weeble on 8/29/2010 9:30:43 PM
It is wise to consider and accept that whereas all that that is shared above is true enough, it is now all under the perfectly unnatural control of alternative forces with irregular and unconventional IntelAIgents .... akin to and in consort with Foreign and/or Alien Virtual Machine Memes into MkUltraSensitive Critical Mass Remote Neuro-Linguistic Programming of Earthed and Grounded Slave Control Units, with AI and a Simple Text Base allowing for Easy Universal Transcription/XSSXXXX Coding into All Possible Tongues/Languages/Consciousness Streams.
In such as would be then BE the Present AIReality and a Daliesque SurReality, would Past and Previous Power Elite Controllers [QuBit Players in Great Games indeed] Seed their Continuance and Relevance by Virtue of a Proxy Champion they would choose to Feed with their Needs ..... thus to Enigmatically Lead with the Paradoxes being Followed .... in what are then, and now, Self Sustaining, Positively Reinforcing, Mutually Beneficial FeedBack Loops.
"I hope you don't think I have lost my marbles on this issue. I think we have a little more knowledge for our toolkit now. And I hope Plastiki understands. This exercise was for him." .... Posted by Weeble on 8/29/2010 11:49:28 PM
I think we have all knowledge in our toolkit now, Weeble, and it is a certain advantageous-to-the-opposition-and-competition madness to imagine it delusional. And thanks, Weeble, and all here who are bold enough to think outside of the confining box of the traditional and status quo mentality, and who are hosting the Daily Bell's success in their feedback loops, which are expanding our limited horizons with the selfless input of other enlightened and enlightening Sees.
Am I right in assuming that Plastiki is a call on David de Rothschild, who I would venture, if he understands even half of what is actually going on here in this thread, can easily be considered as a Leading Top Gun/Dog, and Fit for Future Good and Great Game Purpose ...... Power Elite Play?
"Sure they read every word." .... Reply from the Daily Bell.
Err, is that irony or sarcasm, DB, or both and something else, for it is beautifully ambiguous .... which are ? There's a hell of a lot being taught and practically given away for free here and the young, just like all in youth, have a lot to learn about Life and its Drivers in LOVE, and ideally from those who are Older and Bolder and IMPassionately XSSXXXXPerienced.
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Posted by Greg Colvin on 08/30/10 01:33 AM
@Bill Ross
I thought I might be a candidate for your peaceful army, but then I read a little further in your post and even followed your link. It seems that, as a disabled person dependent on social services, you hold me to be a Ruler, a predator and a leech. I suspect you will get more recruits if you quit with the insults and shouting.
Reply from The Daily Bell
Bill is apparently an engineer and his rhetoric, while logical, can become quite shrill at times. You might try to look past it if you can.
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Posted by Weeble on 08/29/10 11:49 PM
"Why did it take you 16 posts and thousands of words?"
Because I really and truly did not know what I was looking at until everyone was drawn in and we all played a game of Kerplunk. I hope you don't think I have lost my marbles on this issue. I think we have a little more knowledge for our toolkit now. And I hope Plastiki understands. This exercise was for him.
Reply from The Daily Bell
Sure they read every word.
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Posted by Weeble on 08/29/10 10:40 PM
Remember Reagan when he said "well" with a long drawl and his head tilted slightly? Weeeelll, If you think I believe the over 1000 words I wrote. Yes. Is it true? Who knows. To believe or not to believe, that is the question.
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Posted by Weeble on 08/29/10 10:13 PM
Reply from the Daily Bell:
"Now that the noose is tighter, the world domination paradox will kick in. But it is a natural phenomenon or control mechanism of the planet. Earth. We are part of it, whether we believe it or not. We can be active or passive players, but we are players (as Lila indicated)."
You think this is clear? "World domination paradox?" What is that?
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No-one can control the Earth except the Earth itself.
It is commendable and necessary that the Daily Bell does what it does. It is a natural progression.
The amplitude of the Earth is reaching its negative peak, will now cruise nicely to zero, then reach its positive peak in the future.
I know, "really out there now!"
Reply from The Daily Bell
What? We used the term first? If we did, it was within a certain context. But it certainly sounds like jargon. Like your previous explanation, above, much better. Witty. Real wit.
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Posted by Weeble on 08/29/10 09:45 PM
The paradox is that in order to control the world, you need to have self control, but by achieving self control, you will not want to control the world.
The power elite evidently do not have this quality. Prove me wrong, Plastiki. Your time is coming soon, and he needs to hand it off to you. Put a word in Daddy's ear. Do the right thing. You know what to do. Crash it and walk away. We'll be OK.
Did you know that if you spin a globe at 60 cycles per minute, it looks like a heartbeat. The USA is the auricle and Europe is the ventricle. The average heart rate is 72 beats per minute, so rotating a globe @ 60 beats per minute will be quite relaxing to watch. You actually don't even need to do anything except spin it with your finger a few times, then imagine it spinning from that point on.
While staring at the globe, you may begin to think about how each one of us is actually a part of this world. We already know what to do, and we want it now. Oh, and it does not involve violence.
Reply from The Daily Bell
The paradox is that in order to control the world, you need to have self control, but by achieving self control, you will not want to control the world.
Well that is well done. Why did it take you 16 posts and thousands of words?
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Posted by Weeble on 08/29/10 09:40 PM
LAST NIGHT'S FEEDBACK
Now that I laid the feedback conversation out on my monitor, deleted off topic feedbacks, then screened it past myself a few times, like seeing streaming green on black 0s, 1s and their qubits in the Matrix, something interesting happened. I noticed that Mary Boud was the precipitator of this conversation (now seemingly defunct, so it will not be noticed by too many people).
I have to apologize to Mary Boud. I should have looked at her feedback that prompted the "why the rush?" response.
There are at least 2 sides to the paradox. Physical (logical / tangible), and metaphysical (sorry, cannot explain what that really means). (Please do not groan, DB.)
"ObamaChange" was permission to blindly proceed full speed ahead, as the public bought it lock, stock and barrel, like JFK revisited (I wish he had made it through). 911 was the posse that needed to be outrun, and World Domination was the Holy Grail that needed to be reached. Suddenly, they perceived they had to go for the gusto now, as 911 awareness was scaring them.
The power elite do not realize we are all connected (even with them), but they DO realize that we (the masses) live by "feeling more than thinking." That has been their "competitive advantage", which has degraded into a mere "technological advantage". They try their darnedest to keep us close to being animals, by keeping us busy, causing us problems and changing right from wrong. We are deluded away from our true feelings and neglect to think, as we are too busy with tangibles and our problems.
DB and I have had quite the tug of war over logic, history, economics and my spastic renditions of what could loosely be called "constructive feedbacking". Most of you do not know the half of it, right DB? This is where a connection point can be made. This paradox combines tangible mechanical "how it was done" with the metaphysical "All for one, and one for all". (Yeah, the 3 Musketeers; that was the best I could do!)
Bill Ross, God bless him, keeps saying funny things. I thought he said that HIS brain was as big as a planet, but later, I realized he was joking about saying MY brain being was as big as a planet. All I did was notice a seed planted by Mary Boud, that everyone else grew with me. I didn't know what the seed would grow to be, but predicted right from the get-go, it would not be what I, or anyone expected. AmanfromMars threw in the twist to make that prediction true.
End part 1
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Posted by Weeble on 08/29/10 09:30 PM
Late last night / early this AM, a strange thing happened. I posted the following piece, but the Bell site said "thankyou for your feedback", then my internet crashed. How odd.
I waited a token few minutes, but the internet did not come back up. My connection to the JonDoMatrix is very finicky, so I waited for the green vertical streaming to appear again (really, it does actually look like that. No, I am not Neo...).
After a while, I checked one last time before beddie byes and it was back up and running. Since it was 2:15 AM, I just posted the conclusion, as I wanted to get it off my chest.
I would always get into trouble in math and physics for not showing my premise and work up, so here it is in full living colour. I will split it up into 2 parts to make it through OK.
Before I get into it, I need to mention that DB and his group are having tremendous difficulty in seeing this paradox.
DBs last reply was as follows:
"All right, wait a minute. The Internet is a new factor and one that is actually undermining elite control. So NOW when the elite attempts to rapidly consolidate authority it is activating or reinforcing the very forces that are in opposition. It is like a failing feedback loop. Very good. The faster they go, the more they hurt themselves. A significant point and quite subtle. Why couldn't you write that Weeble?"
Although that is getting very close to the paradox, I think it is not quite there. DB's emphasis was on the elite doing something wrong, when in fact what I m trying to say is that they are doing something that is now out of their control. Up till now, they controlled the Western world. They did not control Cuba, Afghanistan, Iraq, and Iran, as their central banks did not play the elite game and were showing them up.
Now that the noose is tighter, the world domination paradox will kick in. But it is a natural phenomenon or control mechanism of the planet. Earth. We are part of it, whether we believe it or not. We can be active or passive players, but we are players (as Lila indicated).
Reply from The Daily Bell
"Now that the noose is tighter, the world domination paradox will kick in. But it is a natural phenomenon or control mechanism of the planet. Earth. We are part of it, whether we believe it or not. We can be active or passive players, but we are players (as Lila indicated)."
You think this is clear? "World domination paradox?" What is that?
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Posted by Farang on 08/29/10 02:37 AM
Have nice day, the world isn't ending, just American Hegemony.
Reply from The Daily Bell
This post was radically edited. We are not going to accuse individual people of having an "army of assassins." However, the thrust of the post is correct. The CIA especially serves as a kind of Praetorian Guard for the elite in our view. It is not merely a "national security" device but an instrument of control - designed at least partially to keep the political system moving forward to its logical conclusion. (The FBI is seemingly aimed more at keeping the civilian population docile and cowed.) But even the CIA is having increasing problems as its methodologies are exposed and its black ops become common Internet fodder.
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Posted by Farang on 08/29/10 02:23 AM
May I be allowed to respond here specifically to some points you raised?
"Not for us is the prevailing point of view among the Internet's "conspiracy" sites that the powers-that-be are infallible or all-powerful.
[well, are ALL of these "conspiracy sites" saying that? Most? Some? Which ones? I know of no "conspiracy sites" alleging the "Elite" are "infallible" or "all-knowing", We are saying they are CRIMINAL and obvious "in-your-face" about it, so could you be specific in your accusation and provide link(s)? thank you, farang]
Enormous amounts of money and the ability to control governments (which we too perceive the elite has[you perceive correctly]) are great advantages but the invisible hand of the marketplace itself is even stronger than elite control.
[agreed]
This is yet a third overlay of analysis that we have offered and a most important one. If one concludes that the free-market itself is overwhelming the elite promotional agenda then further complexities arise and additional judgments have to be made.
[agreed]
It is our humble opinion that a market backlash against the West's central banking economy when combined with the truth-telling of the Internet is causing a historical rupture in terms of elite planning. We think it may even cause the elite to take a step back at some point, and to abandon what would seem their plans and timelines regarding ever-more-centralized Western governance.
[agreed, and I would like to add a conjecture: it seems to be coming to a head because the top "Elite" conspirator is coming to the end of his mortal days and his wish for Total Control is slipping away, and he grows more desperate to see it happen...placing pressure on his minions: D.R. farang]
We do not believe at this point that the elite is in control of events.
[absolutely correct]
It is a fact that the powers-that-be were panicked by the swirl of radicalism and discontent caused by the Great Depression. It is our perspective that World War II was possibly, in part, an elite solution to the discontent caused by the failure of the elite's central banking-oriented economy.[see: Iran] But we do not believe that the elite is capable at this moment of fomenting another world war.
[but they are trying desperately]
The wealthiest, elite families apparently seek control, not more "money." Control, in fact, is an organizational force that likely guides their actions. [D.R.]
But they are confronted today by forces beyond their control. The market itself is undermining the West's central-banking (boom-and-bust) economy. And the truth-telling of the Internet is undermining the credibility of the system itself and the rationale for its configuration.
[which is why he has his CFR minions pushing for internet control, and invasion of Iran.....]
In both Europe and America the same question arises: How can tiny groups of men (central bankers) predict the volume and rate of money necessary for complex economies? In fact, they cannot. Central banking is a form of price fixing that ultimately causes queues, scarcity, rationing and economic ruination.
[yell it from the rooftops]
Reply from The Daily Bell
"[well, are ALL of these "conspiracy sites" saying that? Most? Some? Which ones? I know of no "conspiracy sites" alleging the "Elite" are "infallible" or "all-knowing", We are saying they are CRIMINAL and obvious "in-your-face" about it, so could you be specific in your accusation and provide link(s)? thank you, farang]"
You know you have a point. A decade ago when we began writing on these issues the meme of the "Infallible Illuminati" was widespread on the Internet. It was a gigantic fear-based promotion. Actually, the thrust of your argument is correct as more and more can see that the promotional elements of the elite are blowing up - and that as they do so, the control begins to slip away. But we would still argue that some of the biggest "alternative" websites are more interested in fear-mongering than analysis. In other words, we have a suspicion that even some of the largest alternative news sites are in a sense supporting elite fear-based promotions. We are certainly not in a position to say whether this is intentional.
A good recent example of the "Infallible Illuminati" promotion would be the past year's Supriem Rockefeller promotion - which in our opinion was cooked up by bored intel agents who wanted a "good laugh." Anyway, type it into Google and you'll find nearly 20,000 cites.
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Posted by Weeble on 08/29/10 02:15 AM
The paradox is that in order to control the world, you need to have self control, but by achieving self control, you will not want to control the world. The power elite evidently do not have this quality. (Prove me wrong, Plastiki). How do I know this? Ask Luis.
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Posted by Tobyw on 08/28/10 11:49 PM
Money put into circulation can be taken back out by selling assets or by raising bank reserves requirements. Money spent by government cannot be taken back.
Bernanke is the foremost monetarist. I trust his judgment over that of gold bugs with their fixed money supply " fixed at least until government cheats.
War is not good for the economy because although goods and services are produced, it does not create any goods or services that are of much value to the population in general " barring a useful victory. Much the same as paying people for digging holes, then moving them.
As far as the size of the Fed's balance sheet, that's how you put money into circulation, you buy back paper or buy assets " money out, assets in. to take money out, you sell assets.
The big monetary items we need are savings and balanced budget (plus just a little inflation to help spending and job creation). Since the economy is not equal throughout the country, then a balanced budget equals deflation in depressed areas). Compare recession frequency and duration before and after 1933.
In my amateur opinion.
-T
Reply from The Daily Bell
"The big monetary items we need are savings and balanced budget (plus just a little inflation to help spending and job creation)."
You are an admirer of Ben Bernanke. But he is not alone in all this. Are you also an admirer of Barney Frank, Nancy Pelosi and other Republicans and Democrats who need to be involved in these affairs? Might it be better to let the market decide?
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Posted by Pandorama on 08/28/10 07:51 PM
OK, I'll 'byte'...:) What is "Brownian"? Gordon Brown??
Brownian Motion??....or...this ?? I have never heard if this term before... Thanks
Click to view link
Reply from The Daily Bell
Ellen Brown - see this thread, above.
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Posted by Coolsaint on 08/28/10 03:58 PM
Good article . The human race lead by americans have before them the opportunity to send the Banking Cabal and the Elite to the place they belong , the SEWER . However , because of rampant ignorance and stupidity combined with prejudice of all kinds ,the american public will hand control and victory to the ELITE , thinking all along that god and america are great .
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Posted by Pandorama on 08/28/10 03:36 PM
Interested if the Daily Bell has any comments on 'The Secrets of Oz'
Click to view link
Reply from The Daily Bell
Believe it to be Brownian. We are not Brownian.
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Posted by Sasha Verma on 08/28/10 01:30 PM
May I add something to your most worthy article. I am an Egyptologist and in my study of the rise and fall of O of Old Kingdom Culture it is quite apparent that elites not only try but ensure the domination of the masses- in Egypt it was done through a the concept of Ma'at, which worked to the advantage of the king and the elite. Similarly now the elite use the concept of spending- because as they would argue this keeps one in a job!
Reply from The Daily Bell
Yes, old Egypt doubtless provides a fascinating study of how religion interacts with the state.
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Posted by Mark Gayhardt on 08/28/10 01:13 PM
This is the most precise, thoughtful, in depth article in a long time. Hope the word gets passed on...especially to Boobus Americanus.
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