Video — The Creature from Jekyll Island (G. Edward Griffin)

This is a must watch video. If you real­ly want to know how we got here, in the finan­cial mess that we are in today, then you need to watch this video and under­stand exact­ly how we got here.

The Fed­er­al Reserve Sys­tem is the great­est scam of all his­to­ry — Because it is NOT:

  • Fed­er­al
  • a Reserve (there are no Finan­cial Reserves)
  • a Sys­tem (it is New York based — with the illu­sion of Nation­al pres­ence)

Mr Grif­fin sites sev­en rea­sons why the Fed­er­al Reserve Sys­tem shoul be abol­ished:

  • It is inca­pable of acheiv­ing it’s stat­ed objec­tives
  • It is a Car­tel — Oper­at­ing against the pub­lic inter­est
  • It is the Supreme instru­ment of Usery
  • It gen­er­ates our most unfair tax
  • It encour­ages war
  • It desta­bilis­es the econ­o­my
  • It is an instru­ment of Total­i­te­ri­an­ism

It’s long weigh­ing in at 105 min­utes — but Mr Grif­fin is a mas­ter pub­lic speak­er, a dili­gent researcher, and above all it is high­ly enter­tain­ing piece that every­one should hear.

And know this — You can watch/listen to this video much quick­er than it took Mr Grif­fin the years of painstak­ing research, or ever to read his weighty tome as the same (which is a MUST read, btw ;-)).

Split it into two parts if you must, or more, but make sure you under­stand all that is in this great, great lec­ture.

A clos­ing thougt from Mr Grif­fin:

Fed­er­al Reserve Sys­tem does not need to be audit­ed…  It needs to be abol­ished!

 

I hear you Mr Grif­fin!

Keep stackin’ — FPOW Far­leyB

© Copy­right MMXIII RagingGoldenBull.com

Howard Marks — Investing in Uncertain Times

Howard Marks (no, not the Gan­ga smug­gler) of Oak­tree Cap­i­tal has writ­ten some inter­est­ing (and haunt­ing­ly famil­iar) thoughts about invest­ing in uncer­tain times. The note are from the uni­ver­si­ty of oxford pri­vate equi­ty insti­tute pri­vate equi­ty forum 2013 on March 5.

There are some inter­est­ing ideas here about the macro set­ting of your strat­e­gy mov­ing for­ward from here. I think it would prove a use­ful exer­cise to review the points and check your own per­son­al answers. For exam­ple — Set­ting your strat­e­gy:

Do you expect pros­per­i­ty?

  • Yes -> lever­age, equi­ties, growth
  • No -> debt, val­ue, less lever­age

Which are you more con­cerned about los­ing?

  • Cap­i­tal
  • Oppor­tu­ni­ties

About you and your strat­e­gy:

  • Aggres­sive and risk bear­ing?
  • Cau­tion, con­ser­v­a­tive, risk con­trol

See the full pre­sen­ta­tion here (PDF for­mat): Howard Marks — Invest­ing in Uncer­tain Times

© Copy­right MMXIII RagingGoldenBull.com

The First and Last Too-Big-To-Fail-Bank-Liquidation in History

Sign o the times - Lehmans going under

Lehmans Liq­ui­da­tion near­ly brought down the whole glob­al finan­cial sys­tem

There are plen­ty of things to be wor­ried about at the moment. Some­times it
is like the Case of the Miss­ing Cen­tral Bank Gold is pret­ty minor in
com­par­i­son. For exam­ple, the impli­ca­tions of the Lehman Broth­ers Event
are pro­found indeed.

The Lehman Broth­ers event was very unique indeed. One of a kind. It was the first, and the last case of a mon­ster bank being liq­ui­dat­ed and the cen­tral plan­ners soon realised that they had cho­sen the wrong path here. This one bank in 2008 almost brought down the entire sys­tem. If the rumours were to be believed then we were with­in hours of the col­lapse of the entire glob­al finan­cial sys­tem.

For the first time we could see the real and dec­i­mat­ed val­ue of assets dur­ing a liq­ui­da­tion sce­nario in the 2008 envi­ron­ment. Any­one who has been close to any kind of bank­rupt­cy or debt event knows that assets are worth noth­ing and no buy­ers. Cred­it sup­ply was seiz­ing-up and it was almost time for the end.

The Cen­tral Plan­ners watched and learned. If you notice, there have been many oth­er events, banks, coun­tries, and busi­ness­es like since Octo­ber 2008. But none have been allowed to fail. It would cause too much tur­moil and desta­bilise too much infra­struc­ture. The les­son learned here is that it would be much bet­ter to just kick the can down the road. The expres­sion that we have heard so often now. Keep the illu­sion going for a bit longer. But how much longer? Days? Weeks? Years? Cen­turies? This is where we must do our think­ing — how long have we got?

Greek austerity measure start to warm up

Greek aus­ter­i­ty mea­sure start to warm up

Reflect on all that has hap­pened since — Greece, Spain, Por­tu­gal, Ire­land, Italy, Dex­ia, Bankia, AIG, Fan­ny Mae, Irish Banks, Ice­landic Banks, North­ern Rock, and the hand­ful of banks that qui­et­ly fail every Fri­day after­noon in Amer­i­ca. All bar none, have been helped — no liq­ui­da­tion for them. It would be messy.

Wit­ness Mario Draghi and his print­ing press­es, EFSF, any­thing but actu­al­ly let the prob­lems die out. So we print more mon­ey, sell more bonds, and use the mon­ey to kick the can down the road again. But one day this will come to an end.

So I feel that we will not see any more BIG LIQUIDATIONS — They are just too dan­ger­ous — Let’s just draw out a long slow death instead.

This is the proof of QE to Infin­i­ty and beyond — Pur­chase your phys­i­cal gold now while it is still in the 1,700 USD range — In a few years most peo­ple will be locked out from buy­ing (if not already) com­plete­ly — buy sil­ver too. Buy BOTH, with both hands. Now.

Oh, an by the way — start think­ing, plan­ning, and tak­ing mas­sive action now — it’s the best chance of sur­vival for us and the peo­ple we care about.

© Copy­right MMXII RagingGoldenBull.com