Culture of Ignorance – Part One

The first revolution will not be televised, that is the revolution of the mind and of consciousness. Courtesy of The Burning Platform :

“Five percent of the people think;

ten percent of the people think they think; 

and the other eighty-five percent would rather die than think.”

– Thomas Edison

The kabuki theater that passes for governance in Washington D.C. reveals the profound level of ignorance shrouding this Empire of Debt in its prolonged death throes. Ignorance of facts; ignorance of math; ignorance of history; ignorance of reality; and ignorance of how ignorant we’ve become as a nation, have set us up for an epic fall. It’s almost as if we relish wallowing in our ignorance like a fat lazy sow in a mud hole. The lords of the manor are able to retain their power, control and huge ill-gotten riches because the government educated serfs are too ignorant to recognize the self-evident contradictions in the propaganda they are inundated with by state controlled media on a daily basis.

 

“Any formal attack on ignorance is bound to fail because the masses are always ready to defend their most precious possession – their ignorance.”

– Hendrik Willem van Loon

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The Plan isn’t Working

Courtesy of Laissez Faire Club:

You didn’t want to be the guy chosen to tell Stalin that the wheat crop failed or the production quotas on trucks and cars were not met. Why?

Because despots always blame people, not systems.

In the same way, you don’t want to be the guy chosen to tell Obama that his health care websites are a disaster. But that’s what they are, and he’s managed to blame everyone but himself.

At his hilarious and embarrassing press conference on Monday, the president first assured us that “no one is madder than me” about website failures. Then, of course, he lashed out at the critics and implicitly blamed them for technical failures.

“It’s time for folks to stop rooting for its failure, because hardworking, middle-class families are rooting for its success.”

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Russell Brand on revolution: “We no longer have the luxury of tradition”

Courtesy of The Newstatesman:

When I was asked to edit an issue of the New Statesman I said yes because it was a beautiful woman asking me. I chose the subject of revolution because the New Statesman is a political magazine and imagining the overthrow of the current political system is the only way I can be enthused about politics.

When people talk about politics within the existing Westminster framework I feel a dull thud in my stomach and my eyes involuntarily glaze. Like when I’m conversing and the subject changes from me and moves on to another topic. I try to remain engaged but behind my eyes I am adrift in immediate nostalgia; “How happy I was earlier in this chat,” I instantly think.

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Eric Sprott’s Open Letter To The World Gold Council

Courtesy of Sprott Global:

Dear World Gold Council Executives;

As you very well know, the business environment for gold producers has been extremely challenging over the past few years. While demand for physical gold remains extremely strong, prices on the COMEX have fallen precipitously. This contradictory situation is the single most important obstacle to a healthy gold mining industry.

In my opinion, the massive imbalance between supply and demand is not reflected in prices because available statistics are misleading. It is not the first time that GFMS (and World Gold Council) statistics come under pressure from the investment community. In his now celebrated “The 1998 Gold Book Annual”, Frank Veneroso demonstrated the inconsistencies in GFMS gold demand data and proceeded to show how they grossly underestimated demand. The tremendous increase in the price of gold over the following years vindicated his conclusions.

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Lies, Lies and US Statistics

If you were to believe what the US government and the BLS are saying about the economic recovery, everything appears to be rosy and on the up. You maybe tempted to spend your hard earned dollars instead of saving them for a rainy day…but what if the government is lying? What if they manipulated the statistics, not only to save face but to keep the economy on life support? It would be shameful and malevolent but remember, there are lies, lies and then there are statistics. Charts are courtesy of The Hedge.

In all of the charts below, the green line represents the S&P500

Crude Oil is diverging.

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China’s Wake-Up Call from Washington

While the US government plans towards the next election, China is planning for the next 100 years and the plan…it’s golden. Courtesy of Steven Roach @ Project Syndicate

Yes, the United States dodged another bullet with a last-minute deal on the debt ceiling. But, with 90 days left to bridge the ideological and partisan divide before another crisis erupts, the fuse on America’s debt bomb is getting shorter and shorter. As a dysfunctional US government peers into the abyss, China – America’s largest foreign creditor – has much at stake.

It began so innocently. As recently as 2000, China owned only about $60 billion in US Treasuries, or roughly 2% of the outstanding US debt of $3.3 trillion held by the public. But then both countries upped the ante on America’s fiscal profligacy. US debt exploded to nearly $12 trillion ($16.7 trillion if intragovernmental holdings are included). And China’s share of America’s publicly-held debt overhang increased more than five-fold, to nearly 11% ($1.3 trillion) by July 2013. Along with roughly $700 billion in Chinese holdings of US agency debt (Fannie Mae and Freddie Mac), China’s total $2 trillion exposure to US government and quasi-government securities is massive by any standard.

China’s seemingly open-ended purchases of US government debt are at the heart of a web of codependency that binds the two economies. China does not buy Treasuries out of benevolence, or because it looks to America as a shining example of wealth and prosperity. It certainly is not attracted by the return and seemingly riskless security of US government paper – both of which are much in play in an era of zero interest rates and mounting concerns about default. Nor is sympathy at work; China does not buy Treasuries because it wants to temper the pain of America’s fiscal brinkmanship. Continue reading

Huge GMO News

Courtesy of Ocean Robbins in the Huffington Post:

It hasn’t been a good week for Monsanto and the rest of the biotech industry.

Just three days ago, Mexico banned genetically engineered corn. Citing the risk of imminent harm to the environment, a Mexican judge ruled that, effective immediately, no genetically engineered corn can be planted in the country. This means that companies like Monsanto will no longer be allowed to plant or sell their corn within the country’s borders.

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At the same time, the County Council for the island of Kauai passed a law that mandates farms to disclose pesticide use and the presence of genetically modified crops. The bill also requires a 500-foot buffer zone near medical facilities, schools and homes — among other locations. Continue reading