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Zero Hedge: China Interbank Market Freezes As Overnight Repo Explodes To 25%

20 Jun
Chinese Credit Crunch?

Chinese Credit Crunch?

Is this a black swan coming in to land?

Remember, you read it here second.

Doug Casey and the Fall of America

20 Jun

Screen Shot 2013-06-20 at 12.17.37

It’s Doug Casey day, here on the Euro Vigilante, with an excellent set of videos from the ‘Fall of America’ series.

Just to help those on mobile devices, where YouTube playlists never seem to work correctly, here are all of the ‘Doug Casey, Fall of America’ YouTube snippets that we could lay our hands on.


The Largest Criminal Entity on Earth:

The Precipice of the Greater Depression:

The Future of Freedom in America:

The End of the Nation State:

The Federal Reserve:

Sovereignty and Borders of the United States:

Class Warfare:

America Becoming a Police State:

The Charade of Nationalism:

Americans Accepting Control:

The Land of the Free:

Institutionalized Coercion:

The American Idea:

The Pope of Fraud, Ben Bernanke

26 Apr

Max Keiser and Stacy Herbert examine the recent gold crash in their usual immutable style. After the break, they speak to Andrew Maguire who discusses what he calls a ‘gold default’ in the bullion bank arena, led by many banks now starting to return cash instead of gold bullion, when clients ask for their gold.

Published on Apr 25, 2013: In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the season for CRASH as algos reading Twitter cause a hack crash in New York; ghost traders in the shadow banking system cause gold ‘slaughters’ in the precious metals markets and Joe Weisenthal seeks smoke signals from the Pope of Fraud, Ben Bernanke. In the second half of the show Max talks to Andrew Maguire about precious metals markets, manipulation and failures to deliver.

The difference between power and market

2 Mar
Chairman of the Board, British Insurance Services Corporation

The Chairman of the Board – British Insurance Services Corporation

This week, the British government’s credit rating was cut by the ratings agency Moody’s from AAA to AA1. This is laughable of course, because AA1 is still a good ‘investment’ grade rating, whereas the British government’s debt should have been reduced to junk status many years ago. However, it does have this thing called a printing press, and if push comes to shove, it will use this printing press to pay off all of its debts, as it has done already through quantitative easing, hence why British government debt is said by standard-grade economists to be ‘riskless’, at least in terms of getting your pounds back. Yes, it will be £100 pounds, or more, to buy a loaf of bread, but you will probably get your pounds back, even after the British pound bond market has collapsed.

So to have this magic ‘printing press’ for the pound sterling and still to get your credit rating cut, is therefore quite some achievement.

But what’s really interesting is the British government’s response to all of this, in the odious person of George Osborne, its Chancellor of the Exchequer.

Before we get to that, however, imagine for a moment that the British government is actually a private insurance company, and that everyone living within the British Isles freely chooses to use this particular private insurance company and its various services, such as health insurance, unemployment insurance, security insurance, and the like. Imagine that many other insurance companies are waiting in the wings to provide such voluntary services, but for some freely-chosen reasons, everyone in Britain uses the services of this one company, at least for the moment. However, also imagine that they are free to change their service provider at any time, subject perhaps to a contractual opt-out clause of giving a short-term notice to quit.

Indeed, in a future Hoppe World, this will be the general situation. There will be many large insurance companies providing general services for anyone who chooses to sign up, without worrying about where that person happens to be mainly located. Perhaps these insurance agencies will evolve from current modern-day governments, though I should imagine that this evolution will take place from those already on some form of Hoppeian path towards the future, such as the governments of Singapore, Chile, Monaco, Liechtenstein, and the like. Maybe there will even be a ‘Euro Vigilante Insurance Services’ corporation, handling your every voluntary need, but I digress.

Let’s get back to ramshackle Britain, with its single private insurance services provider, which we’ll call the British Insurance Services Corporation. Elizabeth Windsor is Chairman of the Board, David Cameron is the Chief Executive Officer, and George Osborne is the Chief Financial Officer.

In response to their corporate borrowing credit rating having been cut from AAA to AA1, would the Chief Financial Officer respond like this, when sending out a corporate letter to his customers?

“Under previous board directors, our corporation has failed you. It wasn’t my personal fault, of course, or that of my friend the CEO, but previous board officers really did fraudulently charge you too much, pay too much in salaries, pensions, and expenses, to themselves and their friends, and rack up enormous borrowed debts to fund this self-largesse. Unfortunately, our company has grown used to having such large numbers of staff, only taken on to build little empires and to justify larger powers and salaries for incompetent middle managers, but if we are to shrink our workforce, life will become more unpleasant for those of us at the top of the corporation. So here’s what we’re proposing to do, to help the company maintain itself. After a course of charging you more and providing you less, over the last few years, since our latest board of directors was elected, we’re going to start charging you even more and to provide you with even less. Indeed, we’ll want more than half your salary, and we’ll hardly give you anything back that’s worth anything. Yes, this will unfortunately destroy growth in all other sectors of the economy – except that of our company – but this is a price we’re prepared to charge you, to maintain the lifestyles of ourselves and our employees, all of whom get to vote in these directorial elections too, and as there are more of them than you, in the elections, your vote is pointless anyway. We realise, of course, that we have bled you so much over the last few decades, that even charging you to the hilt will not give us the income we desire, so we’re also going to sell more corporate debt, which we’ll expect you to buy, and you can hand the bills to your children. Fortunately, since everyone in this country accepts our corporate-produced money notes – backed thankfully by nothing – we’ll also be printing a lot more of these notes to keep ourselves topped up in champagne and caviar. Thank you for listening, not that I really care one way or the other, so long as our payroll vote is on side. Oh, and by the way, if you think all of this is unacceptable, in a few years’ time we’ll let you elect a new board of directors. They’ll follow pretty much the same policies as us, they’ll just wear a different colour of tie at press conferences. And on no account, you silly people, sign up to any other insurance providers. They’re all foreign, and therefore despicable.”

Yes, I’ve condensed it a little, and I’ve been a tiny bit colourful with the language, but this, in essence, is what George Osborne did tell us this week, via his various state-licensed media outlets.

Of course, in a real market for general insurance services, the British Insurance Services Corporation would have long ago disappeared with this arrogant attitude, unless of course it had built up and maintained a monopoly of such services, backed up by lethal force, funded through monopoly currency practices, and serviced through a gigantic propaganda machine run by a client intellectual class of tax-eaters.

Okay, from here to Hoppe World is perhaps a long journey (though you never know how quickly things can change at historical boundary points). Although it would be nice to have freely-choosable general insurance providers and independent money, this situation is currently unavailable. However, you can at least begin to move that way by acquiring more than one citizenship and by making use of gold and silver for your savings portfolio.

And particularly on the citizenship front, look out for exciting news on these web pages in the next few days.

Welcome to the Euro Vigilante!

6 Feb


For all things freedom-related in Europe, ‘Euro Vigilante’ will become your one-stop shop. Watch this space! 🙂