Financial Sense Blog

The public relations propaganda campaign to convince the ignorant masses that Sandy’s impact on our economy will be minor and ultimately positive, as rebuilding boosts GDP, has begun. I’ve been hearing it on the corporate radio, seeing it on corporate TV and reading it in the corporate newspapers.

Over the past decades financial markets have been inundated by an avalanche of liquidity and the financial sector has grown into its current gigantic proportions. This growth of the financial sector has been built on the expansion of debt. Now that debt expansion has reached its limit, the boom has turned into a bust.

A nasty Golden Harp could soon have its cords plucked, with the resonance working to shake loose the bankster cover of improper illicit duplicitous and probably highly illegal usage of Allocated Gold Accounts.

Total global debt is around $200Tn. World GDP is less than $70Tn (300% global debt to global GDP). Advanced economies have a higher percent of total Debt/GDP then developing countries. So the crux of the problem lies with Japan, most of the EU and the USA.

One of the lessons of medieval history (I’m listening to one of those recorded lecture series on the subject this week) is that Europe wasn’t always made up of today’s familiar countries.

The choice of the word “unadulterated” is not accidental. There were many different kinds of gold standard, including what we now call the Classical Gold Standard, the Gold Bullion Standard, and the Gold Exchange Standard. Each contained flaws; each was adulterated.

Our leaders want a weaker dollar and a stronger Chinese renminbi (RMB). That’s our assessment based on recent comments by President Obama, presidential hopeful Romney and Federal Reserve (Fed) Chair Bernanke.

Especially on a day where a large chunk of the eastern half of the United States is without power, you may want to re-evaluate just how dependent and complacent you are regarding the health and stability of the world around you. You may also want to start thinking for yourself regarding what money is, and—more importantly—what it is not.

Nigeria has 37 billion barrels of crude oil reserve and is Africa's largest oil producer. The country also boasts 187 trillion cubic feet of proven natural gas reserves, the ninth-largest reserve in the world.

I have never been a fan of Stephen Harper. But recently his increasing focus on end-running democracy and selling out Canadian resources to the communist Chinese government without debate or due process, have truly taken a turn for the sinister.