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Dec 9, 2011

Chomsky joins in the failed global warming apocalyptic NWO cult



From MarketOracle, Dec 09, 2011

In a recent New York Times article titled "Marching Off The Cliff" (6 December), Noam Chomsky brought together a mix and mingle of claimed facts including results from public opinion polls to advance his own climate change conspiracy theory. He wrote: "In 2009 the energy industries, backed by business lobbies, launched major campaigns that cast doubt on the near-unanimous consensus of scientists on the severity of the threat of human-induced global warming". He added: "The consensus is only 'near-unanimous' because it doesn’t include the many experts who feel that climate-change warnings don’t go far enough, and the marginal group that deny the threat’s validity altogether".

Finding very strange bedfellows given Chomsky's usual anti-imperial, anti-American pitch, he cites both Nixon and Kissinger with approval, saying: "Just about every government is taking at least halting steps to do something about the likely impending catastrophe. The U.S. is leading the way – backward. The Republican-dominated U.S. House of Representatives is now dismantling environmental measures introduced by Richard Nixon, in many respects the last liberal president".
The International Energy Agency, founded by Nixon and Kissinger in 1974 specifically to find ways of getting oil cheaper by playing off different OPEC suppliers with a divide-and-rule contract setting strategy, is also warmly cited by Chomsky. He says it is doing what it can to spread the news  - of coming doom by peddling climate change pessimism and global warming alarmism. Chomsky quotes recent alarming statements by IEA chief economist Fatih Birol, who has said that if the Kyoto Protocol is not renewed at the present Durban talks, and not extended to all nations including China and India by 2017 at the latest, it will be impossible to prevent global average temperatures from rising "by 2 degrees celsius", in the period to about 2025 or 2030. 
The key number of 2 degrees for the feared rise of temperatures is in fact a coded signal, for global warming activists, to always go further. As a special issue of the UK journal "Philosophical Transactions of the Royal Society", dramatically claimed, on the eve of the 2010 UN climate talks in Cancun, Mexico "delays in reducing emissions wll make the target of two degrees celsius -- a rise currently deemed safe by scientists -- extremely difficult or arguably impossible to achieve".
HONESTY IS NOT THE BEST STRATEGY
Although not quoted by Chomsky in his article, the war of words and numbers soon shifts to overdrive. Beyond a rise of 2 degrees all is possible.  Kevin Anderson, director of the UK's Tyndall Center for Climate Change Research puts it this way: "Most of the world is covered in oceans and take a lot longer to warm up. So what you would expect to see is a higher average temperature on land and much higher variations in some parts of the world, where there could be variations even as high as 10-15 degrees celsius", by a very flexibly estimated Doom Date of around 2060-2080. The key word "variations", instead of "rises", is to note.
Playing on the near total ignorance of average citizens as to what a growth in worldwide temperatures of "only" 5 degrees would mean, if it happened, 'climate crazies' like to go one better and further than establishment figures such as the IEA's Birol. There is no problem finding claims that temperatures could rise by double-digit amounts by 2025.  And why not tomorrow ?
In fact, sad to say (for them) temperature rises as high as 10 degrees above present averages are totally impossible, even in centuries. Changes in the range of +1.5 to - 1.5 degrees within 75 years would themselves be extreme, but perhaps possible. Basic astronomical and planetary physics even enters into the reasons why double-digit temperature rises, or falls cannot happen on this planet in a period as short as 15 years. Try a different permutation of degrees and years needed.
Chomsky either doesnt know this, or is not interested. He reveals himself as a climate shill throughout the cited article. He starts with the claim that the US Council on Foreign Relations and the Program on International Policy Attitudes "reveals that publics (sic) around the world and in the United States say their government (sic) should give global warming a higher priority and strongly support multilateral action to address it.”
This is heavy rearguard action, by Chomsky, who cannot be ignorant of what opinion polls on climate change and global warming are really showing, worldwide. They show that doubts on the intensity of climate change and the urgency of shifting to low carbon green energy are rising. In many countries there is now a straight majority of average persons who no longer believe there is a crisis, doubt the scientific credibility that we are supposedly facing a catastrophe, and fear that stampeding into green energy will only, and can only raise energy prices at a bad time for the economy and for jobs. Even worse, perhaps, the reality of anthropogenic climate change - but not through global warming - simply disappears off the radar. Only one official, politically correct cause of climate change is allowed: global warming through burning fossil fuels. This itself is a monstruous perversion of science, even the equivalent of the Lysenko genetics controversy in Stalin's era.
Without realising the irony of what he is saying, Chomsky calls the results of opinion polls showing a loss of conviction and interest in extreme climate change advocacy, in dozens of countries, "reactionary behavior". In the USA (and presumably elsewhere) Chomsky says it is yet another indicator of "the crisis of U.S. democracy in the past generation". Chomsky's claims that his democracy-deficit, in other words public opinion polls on climate change and green energy giving results he doesnt like, is due to "the propaganda offensive" by Big Energy and small, easily corrupted politicians sometimes aided by untrustworthy, egoist scientists seeking easy pickings. Together, this motley crue thwarts action in the face of what Chomsky calls "the most serious issue on the international agenda today – arguably in history". Nixon and Kissinger got it right !
THE EUROPEAN STAR PLAYER
To be sure, Chomky and other American climate shills highlight the European Union as a group of advanced industrial nations which are doing something, or at least taking what Chomsky calls "halting steps" to preventing the coming catastrophe. Only 9 months ago, we can note, many or even most of the same American shills would have been talking up Europe's lead "in low emission nuclear power", but times have changed rather fast and hard on that score.
The shills now only have offshore windfarms and solar power plants to admire. If a lot less dangerous than nuclear power they are even more expensive - making the real problem how to find ways of extracting the needed cash from the public. At a time of economic crisis and recession !
The European star player in climate-correct is now alone on the world stage. At the Durban climate talks several governments, including the home country to the first Kyoto treaty negotiations in the 1995-97 period, Japan, joined by Canada and the USA, are openly hostile to the EU stance. This stance is itself an almost certain ploy for "plausibly bowing out" - and says there must be a renewed Kyoto Protocol with legal emission limits binding on "all states". If not, the EU "could or might" abandon its present actions to fight global warming. The extension of the Kyoto Protocol to all countries demanded by the EU will not happen.
What has happened, and will go on happening is that since 2009 the ‘evil’ countries Japan, Canada and the USA have increased their CO2 emissions much more than the EU countries for one simple and basic reason that Chomsky makes a point of not mentioning: they are less deep into economic recession and stagnation, than the EU's 27 member states. That is all.
Chomsky prefers to cite claims, from establishment sources like the IEA and the USA's MIT, that global emissions of greenhouse gases of all kinds have increased faster since 2009 "than in previous periods". These previous periods, to be sure, must be carefully selected to not contradict the claim. In the case of the EU 27 it is necessary to avoid going back so extremely  far as 2005-2007, when EU emissions were growing as fast as US, Canadian or Japanese emissions, because the European economy was growing, and unemployment was falling. At the time, to be sure, the EU's courageous market-based attempt to "limit emissions" through mandatory trading of CO2 permits was in full swing.
Its impact on European emissions growth was either low or zero. Why should this miraculous system be extended to "all states" ?
WHO PAYS?
Chomsky cites the UK 'Financial Times' with disapproval for airing US claims - themselves exaggerated - that following the shale gas revolution, there will be a shale oil revolution and "within a certain period" the USA could or might become a major exporter of both gas and oil. In fact and today, the very rapid-growing production of shale gas only covers about 34% of US natural gas demand. Around 66% is from other sources - including imports of Canadian gas, which are threatened by gas needed to produce Canadian tarsand oil. No serious development of US shale oil production is possible even within 10 years.
Chomsky however, and surprisingly does not cite the same 'FT' on green energy and how it should be paid for. The 'FT' claims that immense government subsidies should continue being paid to green energy czars, who are threatened with a cut in earnings when Kyoto is not renewed and the European "experiment" in marketizing CO2 emissions permits, and a host of "derived and related climate finance products" is quietly abandoned. According to the 'FT', but not to real world facts, the spending must continue "to protect jobs" and maintain a technology edge on Chinese and Indian producers of green energy equipment - despite their industrial, technical and commercial edge on European, US and Japanese producers already being massive !
In reality, although it is painful to know, China and India are subsidizing the green energy quest in the developed countries, by producing the needed equipment cheaper, due to their own and more successful mix of green energy policy, industrial strategy, and subsidies. Chomsky prefers to imagine that penny-pinching is at work, in countries like the USA, explaining their inability to protect their own green energy industries with a wall of subsidies - not tariffs - and their strong and clear reticence to even provide "seed financing" for the long-touted Green Energy Fund for developing countries. This fund, which is unlikely to see the light of day, would supposedly fund a crash program in alternate energy development in the most affected devloping countries, like Pacific island states, and low income African countries.
The logic is psychedelic, but Chomsky avoids tuning-in. Countries using a tiny fraction of the fossil energy used in the OECD countries - for example 50 times less electricity per capita and 20 times less oil per capita - must make a Quick Shift to green energy "to save the planet". The cash needed would be called "aid" because all technology and equipment, and the experts needed to run it would be imported.
BACK TO BASICS: OIL PRICES
In fact, coming back to Fatih Birol and the IEA, we find the real reason for the haste and precipitation in shifting to green energy: oil prices will rise a lot and soon - if and only if there is global economic recovery.
The IEA, despite its founding goals set by the "liberal minded" duo of Nixon and Kissinger, has been unable to keep a lid on oil prices. Unlike gas and coal, which themselves tend to smartly rise in price when oil rises, there is simply not enough oil around, and its price rises very fast whenever there is even the slightest quiver of economic recovery in the OECD group. At the same time as he gave his dire warnings of "the 2 degree barrier", in November, Birol also presented IEA outlooks on near-term oil prices, able to rise to far above $125 a barrel, unless the global economy firmly tilted or crashed into recession. In his presentation of IEA scenarios, Birol gave more attention to those assuming the economy recovers - perhaps because a crash landing for the economy is imagining the unimagineable.
Ironically or not, high enough oil, gas, coal and uranium prices should be sufficient incentives for a realistic-paced transition to lower carbon energy, with probable highly different trajectories worldwide: in other words no single, global energy transition model, nor timetable, nor single funding process. If the economy stays down and energy prices do not rise - or fall - the transition process earns itself yet more time. The rational basis to energy transition has no need at all for climate crisis conspiracy trimmings or a panic-driven timetable for developing green energy, even if that limits book sales and speaking tour potentials for Mr Chomsky.
In fact, in an ideal world in which the IEA did not have a covert role of acting to coordinate strategic oil stocks policies of the OECD countries - in the event of Arab or other supplier boycotts - the IEA could coordinate a global energy transition programme based only on real world issues. Not fantasy.
By Andrew McKillop
Contact: xtran9@gmail.com
Former chief policy analyst, Division A Policy, DG XVII Energy, European Commission. Andrew McKillop Biographic Highlights
Andrew McKillop has more than 30 years experience in the energy, economic and finance domains. Trained at London UK’s University College, he has had specially long experience of energy policy, project administration and the development and financing of alternate energy. This included his role of in-house Expert on Policy and Programming at the DG XVII-Energy of the European Commission, Director of Information of the OAPEC technology transfer subsidiary, AREC and researcher for UN agencies including the ILO.
© 2011 Copyright Andrew McKillop - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis.Individuals should consult with their personal financial advisors.

The Euro: That Procrustean Bed...

From RT09 December, 2011
By Adrian Salbuchi 

Efforts by European leaders to shoe-horn a range of diverse countries into a rigid financial cage are doomed to fail. But that’s all part of a long-term plan for a global super-currency which can only bring more hardship to ordinary working people.
A question that more and more people are asking nowadays is, “What on Earth were the Europeans thinking when they agreed to have just one currency for all of Europe?”
In Greek mythology, Procrustes was the son of Poseidon, God of the deep blue seas. He built an iron bed of a size that suited him, and then forced everybody who passed by his abode to lie on it. If the passerby was shorter than his bed, then Procrustes would stretch him, breaking bones, tendons and sinews until the victim fitted; if he was taller, then Procrustes would chop off feet and limbs until the victim was the “right” size…
This ancient story of “one size fits all” seems to have made its 21st Century comeback when Europeans were coaxed into imposing upon themselves an oxymoron; a blatant and conceptual contradiction they call “the euro”.
This common supranational currency invented by the French and Germans, boycotted by the UK, ignored by the Swiss, managed by the Germans and accepted by the rest of Europe in blissful ignorance, has finally dropped its mask to reveal its ugly face: an impossible mechanism that only serves the elite bankers but not the working people.
It masked gross contradictions as large, far-reaching and varied as the relative sizes, strengths, profiles, styles, histories, econometrics, labor policies, pension plans, industries, and human and natural resources of the 17 eurozone nations, ranging from Germany and France at one end of the scale, to Greece, Portugal and Ireland at the other.
As we said in a recent article, the euro carries an expiry date; perhaps the eurocrats who were its midwives a decade ago expected that it would live a little longer, maybe even come of age… But they certainly knew that, sooner or later, the euro would die; that it was meant to die.
Because the euro is not an end in itself, but rather a transition, a bridge, an experiment in supranational currency earmarked for replacement by a far more ambitious and powerful global currency issued by a global central bank, controlled by a cabal of global private bankers, obeying a New World Order blueprint emanating from a private Global Power Elite.
The problem today is that what impacted Europe as a financial ripple effect in 2008 has now grown into a veritable financial tsunami threatening to swamp the whole euro system… And more big trouble lies ahead!
In fact, today’s euro-troubles are nothing more than one of many variations of sovereignty-troubles. Because when a country’s leaders irresponsibly cede a part or all of its sovereignty – whether monetary, political, financial, economic, judicial or military – it had better take a really good look at what it is doing and what the implications are for the medium and long term.
Ceding national sovereignty means that somebody else, somewhere else, will be taking decisions based on other people’s interests. Now, as long as everyone’s interests coincide, then we are OK. But as soon as the different parties’ interests diverge, then you are confronted with a power struggle. And power struggles have one simple thing in common: the more powerful win; the weaker lose.
Now, we have a huge power struggle inside the eurozone. Who do you think will win? Who will impose new policies – Germany or Greece? France or Portugal? Britain or Spain? Germany or Italy?
And that is just on the public scene. You also need to look at the more subtle, less media-highlighted private scene, which is where the real global power decisions are made.
Will the new Italian PM, Mario Monti, cater for the needs of the Italian people or for the mega-bankers’ lodge sitting on the powerful Trilateral Commission of which he himself is European chairman? The same question goes for Greek president Lucas Papademos, also a Trilateral member. The same question goes for all the governments of the EU member states where the real power brokers are the major bankers, industrialists and media moguls sitting on the Trilateral, Bilderberg, World Economic Forum and Chatham House think-tanks and private lobbies.
Global elites will do everything to keep the euro on its transitional path towards a global currency that will eventually replace both the euro and the US dollar. This entails engineering the controlled collapse of both currencies, whilst preparing the yellow brick road for a “Global Dollar” or some such new oxymoron.
The US dollar will be easy to collapse: all that is needed is for the mainstream media to yell, “The dollar is hyper-inflated!!” and the Naked Emperor Dollar will fall swiftly. The euro, in turn, will simply break up as its member nations revert to the old days of pesetas, lire, francs, escudos and drachmas…
Is the time ripe for that? Maybe not… yet. So, no doubt we will still see more “emergency treatment,” more “financial chemotherapy” to “bail out the euro” just as we’ve seen them “bail out the banks,” even though most banks and the Oxymoron Euro cannot be salvaged but just kept artificially alive, like the “Living Dead…”
So, here’s a question for Greeks, Italians, Spaniards, Portuguese, Irish, even the French and Germans: will you accept the invitation by your Procrustean Leaders in Brussels to lie down on their bed?
Adrian Salbuchi for RT
Adrian Salbuchi is a political analyst, author, speaker and radio/TV commentator in Argentina. www.asalbuchi.com.ar
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Related:

Europe Hasn't Been Saved And The Can They're Kicking Just Gets Heavier





He Chose Well


From Safehaven, Fri, Dec 9, 2011
By: Paul Tustain

David Cameron was today forced in Brussels to choose between the free market and the vanities of overreaching politicians...
Today is a very sad day. We believe that the markets are telling us that there is a horrible abscess in Europe, and that the Euro is the pus. We believe that fuelled by injustice, the infection of nationalism will now tear Europe apart - making outright enemies of Germany and Greece, France and Italy, the Netherlands and Spain.
Our European friends are today irritated by Britain's refusal to come to their drunken party. Not for the first time we are the odd man out, and being pointed at by the shallowest politician in Europe. It's OK. We can live with a little name-calling for the moment, and we look forward to quietly rebuilding our friendships with every one of you in the future. We hope it will be soon.
You are right. Our financial system contributed - in part - to the mess we are in. But you are wrong as to the reason and the solution. What happened is that over a period of years the political classes in London, New York and the smaller financial centres of Europe worked together to hold down the cost of credit. Ever since 2001 they suppressed the will of the market for higher interest rates. They did this to foster the 'feel-good factor' and to get themselves re-elected. It was the irresponsible and self-serving policy of elected representatives all over the western world, and it is without any doubt the root cause of the explosion of credit which we now have to pay for.
The result of the explosion of credit was an enormous pile of cash accumulated at the banks of the world. It represented the savings of an older generation, and there was far too much of it. It was lent very unwisely. That happens. It's life. And usually it means the creditors lose their money and gain some wisdom.
Only this time some of the creditors - particularly Germany and France - don't want to lose their money. They want to force two or three generations of Greeks, Irish, Portuguese, Italians, Spanish and Belgians to pay, pay, pay. Germany and France lent to your father, yet you become the indentured slave.
That should never be how bad money-lending is resolved. The lender should take the hit when the borrower cannot repay; it helps to focus his mind before he lends. In Britain we got rid of inter-generational debt servitude 200 years ago, and it is not progress to return to it.
As it happens in Britain we have the same deep insolvency problem to resolve, but it is going to be resolved in a different way. Our government is going to have to print to eliminate the debt - just watch. There is going to be a storm and Sterling will be murdered. Interest rates are going to climb sharply as world markets demand the return of their rightful position as the setters of the cost of money. Those rate hikes and concomitant inflation are going to eliminate twenty five years of savings, and twenty five years of a silly, credit-fuelled house price bubble. By the time it ends the creditors will have paid in full. Houses will be again affordable by anyone with a half decent job. Retirement at 55 will have been consigned to the dustbin. Student loans will have inflated to irrelevance, and Britain will again be a great deal fairer than it currently is.
In Europe you will doubtless laugh quietly as this storm hits us. But you will have no reason to make war on us, and you won't want to, because your strength will be all used up making war on each other. We do not believe that 1,000 years of carefully constructed and often hard fought mutual independence should be sacrificed on the altar of a bad monetary union. We do not believe the people of Europe will want it when nationalist tensions materialise. We think that Europe's political class is making a monumental error in order to hold on to something which carries their political credibility. We think they will fail and that Europe will suffer dreadfully for it.
It is a black day, because contrary to your belief we love Europe. We also love our free market and the way it exposes the vanities of overreaching politicians. Today you forced David Cameron to choose between the two, and he chose well.

Author: Paul Tustain

Paul Tustain
Founder & CEO
BullionVault
Paul Tustain is founder & CEO of BullionVault, the world's largest store of privately-owned investment gold bullion.
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events - and must be verified elsewhere - should you choose to act on it.
Copyright © 2004-2011 Bullion Vault
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Related:

European and American Banking Implosion Imminent


Europe Divides, Elite Reels?


Morgan Monetary Piracy

From Goldseek9 December 2011 

By George Smith

When a major fractional-reserve breakdown occurred in 1907, Thomas Woodrow Wilson, then president of Princeton, endeared himself to the banking movement by declaring that "all this trouble could be averted if we appointed a committee of six or seven public-spirited men like J. P. Morgan to handle the affairs of our country." [Griffin, p. 448] Colonel Edward Mandell House, a close Morgan associate who served as shadow president when Wilson was elected to the White House, became the "unseen guardian angel of the [banking] bill" that emerged in 1913. [Griffin, p. 459]

Originally drafted at a secret meeting of banking elites at Morgan's hunting lodge on Jekyll Island, Georgia in November, 1910, the Glass-Owen Bill, as it was finally called, overwhelmingly passed the House and Senate on December 22, 1913 and was signed into law by Wilson the following day. [Griffin, p. 468]

The Fed began operations in November, 1914, with Morgan men occupying key positions. The new law gave the bankers what they wanted: a monopoly of the note issue. Commercial banks could only issue demand deposits redeemable in Fed notes or nominally in gold. National banks were compelled to join the System but had the legal option of becoming state banks, which were not required to join though many state banks chose to do so in 1917 when federal regulations were relaxed. [Rothbard. p. 112]

Critically, gold coin and bullion were moved further away from the public when member banks shipped their gold to the Fed in exchange for reserves. [Rothbard, p. 119]

The inflationary potential of the system is revealed by its structure: The Fed inflated by pyramiding on its gold, member banks by pyramiding on its reserves at the Fed, and nonmembers by pyramiding on its deposits at member banks. Furthermore, after a few years the Fed began withdrawing fully-backed U.S. Treasury gold certificates from circulation and substituting Federal Reserve Notes instead. With Fed notes requiring only 40 percent backing of gold certificates, more gold was available on which to pyramid reserves.

Also, with the advent of the Fed, reserve requirements for demand deposits were cut approximately in half, moving from a 21.1 percent average under the National Banking System to 11.6 percent, then lower still to 9.8 percent in June, 1917, after the U.S. had joined the war. Reserve requirements for time deposits dropped from the same 21.1 percent average to 5 percent, then 3 percent in 1917. Commercial banks developed a policy of shifting borrowers into time deposits to inflate even further. [Rothbard, pp. 238-239] 

Thus, the country now had a government-privileged central bank called the Federal Reserve. By hoarding gold as its pyramidal base, the Fed was weaning the public from the use of gold coins, which would make them easier to confiscate later on. Through the Fed, member banks would be inflating at a uniform rate to avoid trouble with redemption demands.

Did this new system bring the big bankers in line, as it was supposed to? Did the Federal Reserve Act provide "a circulating medium absolutely safe," as the Report of the Comptroller of the Currency of 1914 stated?

Did the people running the banking cartel, almost all of whom were Morgan men, create a better world for most Americans?

Drawing on data from the National Bureau of Economic Research, [Ron] Paul shows that at least 18 "mathematically impossible" recessions have occurred since the Fed's creation.

The "Great" War

The ones who profited from World War I had little in common with the men who fought it. The fighting was left mostly to young conscripts, many millions of whom were killed or wounded. The ones who profited knew their way around Washington.

If monetary control had resided with the market instead of government, the war would not have been fought. Or if it had started, it would've ended much sooner. Sound money had to die before men could die in such large numbers.

When war got underway in August, 1914 the European belligerents immediately stopped redeeming their currencies in gold and started issuing debt. Needing a lucrative market for their bonds, England and France selected the House of Morgan in the U.S. to act as their sales agent. The money acquired from bond sales reverted back to Morgan to purchase war materials, rewarding him with commissions on both the sales and the acquisitions. Furthermore, many of the companies with which Morgan did business were part of the vast Morgan domain. The pacifist Morgan, who said, "Nobody could hate war more than I do," was raking in huge profits keeping the Allied war machines cranking out death and destruction overseas.

As G. Edward Griffin writes, referencing Ron Chernow's work on the House of Morgan,
Morgan offices at 23 Wall Street were mobbed by brokers and manufacturers seeking to cut a deal. The bank had to post guards at every door and at the partners' homes as well. Each month, Morgan presided over purchases which were equal to the gross national product of the entire world just one generation before. [Griffin, p. 236]
"The United States became the arsenal of the Entente [Ralph Raico writes]. Bound now by financial as well as sentimental ties to England, much of American big business worked in one way or another for the Allied cause. . . The Wall Street Journal and other organs of the business elite were noisily pro-British at every turn . . . ."

For Wall Street, peace was not an option. With the possibility of Allied bonds going into default, investors would incur a loss amounting to $1.5 billion. Commissions would be lost as well as the profits from selling war materials. The Treasury could make direct grants to the Allies but only if the U.S. abandoned its "neutrality" and entered the war. [Griffin, p. 239] Following Wilson's address to Congress, it did so officially on April 6, 1917.

The Morgan cash flow was thus saved. The U.S. extended the Allies credits – which reverted back to Morgan to pay off loans – income taxes surged, especially on the wealthy, and the Fed inflated. Between 1915 and 1920 the money supply and prices roughly doubled. Federal deficits were running a billion dollars a month by 1918, exceeding the annual federal budget before the war. . . .

Trusting government instead of the market

On March 12, 1933 President Roosevelt delivered his first fireside chat and told the American people the new dollar, which they could no longer redeem for gold coin, was money they could trust. "This currency is not fiat currency," he insisted. "It is issued only on adequate security – and every good bank has an abundance of such security."

He told his audience their confidence in the "readjustment of our financial system" was the most important element in its success – even, he said, "more important than gold." "Have faith," he pleaded. Do "not be stampeded by rumors or guesses."

On April 5, 1933 he issued Executive Order 6102, in which he told Americans that a month hence they would be prosecuted as felons if they still had gold coins in their possession. . . .

Alan Greenspan noted that in the two decades following the abandonment of the gold standard in 1933,
the consumer price index in the United States nearly doubled. And, in the four decades after that, prices quintupled. Monetary policy, unleashed from the constraint of domestic gold convertibility, had allowed a persistent overissuance of money. [Dec. 19, 2002]
In other words, with the dollar no longer defined as a weight of gold or other metal, the Fed's "monetary policy" depreciated its purchasing power by 91 percent in 60 years, from 1933-1993.
 As recently as a decade ago, central bankers, having witnessed more than a half-century of chronic inflation, appeared to confirm that a fiat currency was inherently subject to excess.
Central bankers merely "witnessed" the "half-century of chronic inflation" that followed their "monetary policy." 

Sixty years ago Garet Garrett wrote:
There is a long history of monetary experience. It tells us that government is at heart a counterfeiter and therefore cannot be trusted to control money, and that this is true of both autocratic and popular government. The record has been cumulative since the invention of money. Nevertheless it is not believed. [my emphasis]
It's as if "monetary delusions are, by some strange law of folly, recurring and incurable," he says. When sound money was in use its supply was limited - by nature and economic law, not by government planners. For that reason the state abolished it and stuck us with a money they can create at will. The state's money removes the idea of limited means, and since it's controlled by the state, it removes the idea of limiting the state. Given the federal influence on education, media, and just about everything, should we be surprised no one is on center stage calling the government a counterfeiter?

If there is to be a ruling elite, let them rise to their positions naturally, as entrepreneurs on a free market. Only in such an environment will those on top be on permanent probation, as it were, forever subject to the market's approval, because the customers who put them there always have the option of removing them when they fail to deliver.

The preceding, including links, is extracted from my new Kindle book, The Jolly Roger Dollar: An introduction to monetary piracy.  Download a free sample.

Breaking: Bomb Explodes At Italian Revenue Collection Agency In Rome, One Wounded

(Now it is getting interesting):


From ZeroHedge12/09/2011


Who thought violent reprisals by "the people" are only contained to Greece. Following news earlier this week of an attempt to take the life of the Deutsche Bank CEO using an explosive package, Il Sole 24 Ore now reports that a parcel bomb has exploded in front of Equitalia - the country's revenue collection agency - in Rome. Google translated: "A parcel bomb exploded in front of Equital in Rome Ardeatina area. The police arrived on site and is investigating the Digos. The parcel was delivered by mail and during the explosion injured the hand of the director of the office." So is the European "Unabomber" the advent of the populist response against the encroaching take over of sovereignty by a small group of bureaucrats and bankers, and how long until someone dies and the class warfare moves from the drawing board to Europe's main street?

Climate FAIL from A to Z presented at Durban

By Marc Morano  –  Climate Depot

Below is the Introduction to the report. Full report is available here. (PDF)

INTRODUCTION:
Many of the proponents of man-made global warming are now claiming that climate change is worse than they predicted. According to an October 18, 2011 Daily Climate article, global warming activists claim that the “evidence builds that scientists underplay climate impacts” and “if anything, global climate disruption is likely to be significantly worse than has been suggested.”


But this exclusive Climate Depot exhaustive A-Z Climate Reality Check report on the scientific reality of the failure of man-made global warming shatters any such illusions that the climate is “worse than we thought.” As the real world evidence mounts that global warming claims are failing, the climate activists have ramped up predictions of future climate change impacts to declare that it “worse than we thought.” But a prediction or projection of 50-100 years into the future is not “evidence.” Recent scientific data and developments reveal that Mother Nature is playing a cruel joke on the promoters of man-made climate fears.

The scientific reality is that on virtually every claim — from A-Z — the claims of the promoters of man-made climate fears are failing, and in many instances the claims are moving in the opposite direction. The global warming movement is suffering the scientific death of a thousand cuts. This Climate Depot special report categorizes and indexes the full range of climate developments in a handy A-Z reference guide. The A-Z report includes key facts, peer-reviewed studies and the latest data and developments with links for further reading, on an exhaustive range of man-made global warming claims.


The Antarctic sea ice extent has been at or near record extent in the past few summers and the ice is expanding, the Arctic has rebounded in recent years since the low point in 2007, polar bears are thriving, sea level is not showing acceleration and is actuallydroppingCholera and Malaria are failing to follow global warming predictions, MountKilimanjaro melt fears are being made a mockery by gains in snow cover, globaltemperatures have been holding steady for a decade or more and many scientists are predicting global cooling is ahead, deaths due to extreme weather are radically declining,global tropical cyclone activity is near historic lows, the frequency of major U.S. hurricanes has declined, the oceans are missing their predicted heat content, big tornados have dramatically declined since the 1970s, droughts are not historically unusual nor caused by mankind, there is no evidence we are currently having unusual weather,scandals continue to rock the climate fear movement, the UN IPCC has been exposed as being a hotbed of environmental activists, former Vice President Al Gore is now under siege by his fellow global warming activists for attempting to link every bad weather event to man-made global warming and scientists from around the world continue to dissent from man-made climate fears at a rapid pace.

Climate Depot’s new A-Z report reveals that the great man-made global warming catastrophe that was predicted – has been cancelled.

In addition to the scientific collapse of anthropogenic global warming fears, the political collapse has been just as stunning. President Obama has been criticized by former Vice President Al Gore for failing to do enough when it comes to climate change legislation. The now defunct and “scientifically meaningless” Congressional climate bill failedbecause the Democrats realized it was political suicide. The new political expediency in Washington is global warming skepticism. The UN global warming treaty process lay in shambles. See: Democrat Walter Russell Mead analyzes Gore: Gore steered the green movement ‘into a tsunami of defeat that…will loom as one of the greatest failures of civil society in all time.’

Proponents of anthropogenic climate change have been reduced to making outlandish claims of a mythical 97% or 98% consensus. See: Global Warming: A ’98% Consensus Of Nothing’: ‘Only shameless activists or statistically ignorant claim that survey of 77 anonymous scientists’ is proof of 98% ‘consensus’. Once esteemed science groups like the National Academy of Sciences (NAS) have now corrupted and have used taxpayer money to lobby for the passage of climate bills. See: Ralph Cicerone’s Shame: NAS Urges Carbon Tax, Becomes Advocacy Group — ‘political appointees heading politicized scientific institutions that are virtually 100% dependent on gov’t funding’ & NAS Pres. Ralph Cicerone Turns Science Org. into political advocacy group: $6 million NAS study is used to lobby for global warming bill & MIT’s Richard Lindzen: ‘Cicerone of NAS is saying that regardless of evidence the answer is predetermined. If gov’t wants carbon control, that is the answer that the NAS will provide’

Movement ‘was bound to fail’


A movement that had Al Gore – one of the most divisive political figures – as the face of the movement, was bound to fail. A movement that utilized the scandal ridden United Nations – which is massively distrusted by the American people – as the repository of science, was doomed to fail. Gore and the UN IPCC are now reduced to pointing to every storm, flood, hurricane or tornado as proof of man-made global warming. The UN has been reduced to blaming man-made global warming for prostitution. See: Climate Astrology — ‘It Has Been Foretold’ of Extreme Weather: ‘UN IPCC science has a status similar to interpretations of Nostradamus and the Mayan calendars’ & Climate Astrology borrows from the past: ‘Before That Witch Moved Into The Neighborhood, We Never Had Bad Weather Or Disease’
But a scientific moment of clarity is now prevailing: The UN and the U.S. Congress do not have the power to legislate, tax or regulate the weather. See: Princeton University Physicist Dr. Will Happer: ‘The idea that Congress can stop climate change is just hilarious’ – Warns of ‘climate change cult’ – July 8, 2009 – Prominent scientists continue to challenge the alleged “consensus.” See: Nobel Prize-Winning Physicist Who Endorsed Obama Dissents! Dr. Ivar Giaever Resigns from American Physical Society Over Group’s Promotion of Man-Made Global Warming

‘Climate change is governed by hundreds of factors, or variables’


The idea that CO2, a trace essential gas in the atmosphere that humans exhale form their mouth, is the main climate driver is now being challenged by peer-reviewed studies, data and scientists from around the globe. It is not simply, the sun or CO2 when looking at global temperatures, it is the Sun, volcanoes, tilt of the Earth’s axis, water vapor, methane, clouds, ocean cycles, plate tectonics, albedo, atmospheric dust, Atmospheric Circulation, cosmic rays, particulates like Carbon Soot, forests and land use, etc. Climate change is governed by hundreds of factors, or variables, not just CO2.

Professor Emeritus of Biogeography Philip Stott of the University of London explained the crux of the entire global warming debate when he rebutted the notion that CO2 is the main climate driver.
“As I have said, over and over again, the fundamental point has always been this: climate change is governed by hundreds of factors, or variables, and the very idea that we can manage climate change predictably by understanding and manipulating at the margins one politically-selected factor (CO2), is as misguided as it gets,” Stott wrote.

Even the global warming activists at RealClimate.org admitted to this key climate reality in a September 20, 2008 article. “The actual temperature rise is an emergent property resulting from interactions among hundreds of factors,” RealClimate.org explained.

The global warming movement continues to lose scientists, many formerly with the UN IPCC. See: More Than 1000 International Scientists Dissent Over Man-Made Global Warming Claims – Challenge UN IPCC & Gore

The future does not look bright for global warming activists as more scandals continue to rock the movement. See: Climate Depot’s Exclusive Round Up of Climategate 2.0 – Read about the most comprehensive report on the latest global warming scandal – Even warmists are lamenting that Climate 2.o may be ‘devastating’: ‘These [emails] sound worse than I thought at first – their impact will be devastating’

MIT climate scientist Dr. Richard Lindzen has observed that “Ordinary people see through man-made climate fears — but educated people are very vulnerable.”


A-Z Climate Reality Check (Editor’s Note: This A-Z report will be regularly updated and will serve as a handy reference guide to man-made global warming claims.)
Full PDF report is available here.

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Related:

UN Calls For Eco-Fascist World Government At Durban Summit

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