Tag Archives: central banking

G20: Global Finance in Transition conference takes place in Istanbul

8 May

Hosts of the event

Interesting news emerges from within the bowels of the G20 organisation, the nascent world-government-in-waiting:

“On May 7-8, 2013, Istanbul (Turkey) will host the Global Finance in Transition conference. The event is organized by the Central Bank of the Republic of Turkey jointly with the Reinventing Bretton Woods Committee and the Russian Ministry of Finance.

Representatives of G20 finance ministries and central banks, international organizations, research institutions and businesses will take part in the conference. Head of Turkey’s Central Bank Erdem Basci, Deputy Minister of Finance of Russia Sergei Storchak and Executive Director for the Reinventing Bretton Woods Committee Marc Uzan will give the opening remarks at the conference.

Five panel discussions are planned as part of the event. They will cover the international financial architecture, in particular, changes in the flow of global investments, local bond markets and growth in emerging economies, incentives and determinants of investment and other issues. In addition it is expected that new instruments and incentives for making the global financial system safer will be suggested during the forum.”

It’s strange, of course, why the complete re-architecturing of the global financial system has been entirely missed by the mainstream media, despite being right in front of them. Alas, they have more important stories to cover, such as retiring soccer managers,  boys with pet cheetahs, and Britney Spears finding dieting tough.

Well, I suppose such frothy bubbles keeps us proles happy, but investigative journalism certainly is a lot less challenging these days than it once aspired to be.

If we see any more emerge from this apparent non-story, we’ll be sure to let you know.

Everything is in a bubble and it’s going to be pricked

4 May

Eagle Above

Another excellent CBC documentary from Canada, detailing how the  shibbolethic technocrat disciples of Keynes are sleepwalking the western world into Doug Casey’s greater depression, one round of quantitative easing at a time.

At the end of the documentary, Neil Macdonald states that it’s impossible to know whether this will end in a recovery or a reckoning. He’s playing with his audience of course, because Mr Macdonald knows there will be a reckoning, just as all Austrians know there will be a reckoning.

The central bankers are trying to keep the stagnating western economic balloon floating through the air. They are preventing the downward adjustment of prices that want to fall under the compelling force of free market gravity by pumping in gargantuan amounts of uplifting fiat currency helium:

  1. If the Basel Cabal stops pumping in the helium – as they briefly experimented with in Cyprus – this western economic balloon will implode and its basket underneath will plummet towards the Earth in a hyperdeflation to end all hyperdeflations.
  2. If the Basel Cabal keeps pumping in the helium, the balloon will swell to a point where its seams will rip apart and explode, in a global hyperinflation to end all hyperinflations. In this explosive case, nobody at all knows where the basket underneath will land. (The relatively small and isolated Weimar hyperinflation gave us Hitler. What will a hyperinflation across the entire western world give us?)

And the longer the Basel Cabal keep trying to push away this malinvestment-correcting monetary implosive/explosive event, the worse the crack-up boom will be and the longer it will last when its chaotic trigger is finally pulled by some Cyprus-style event.

As one of the documentary’s speakers says, everything is in a bubble and this bubble is going to be pricked by some random black swan event.

Just make sure you’re positioned appropriately, perhaps by using TEV’s services, when this random black swan eventually pricks the Basel Cabal’s fiat currency bubble:

CBCNational: The world’s central banks have printed unimaginable amounts of money in recent years. Neil Macdonald explores what this means for the global economy and for your financial well-being.

Shock news just in! – Western central bankers have just discovered how to rescue us all

8 Mar
An essential central banking policy tool

An essential central banking policy tool

Stop all the Bloomberg feeds, cut off all the cell phones, prevent the press from thinking with a juicy story about the failed politician’s marriage. Because the new governor of the Bank of England, the extremely well-compensated Mark Carney, has just discovered how to fix Great Britain’s economic woes. Can you guess what it is yet? Yes, you might be ahead of me on this one, but he’s going to ‘rescue’ Britain’s economy by printing more money. Who would have thunk it?

(If you can get through the Financial Times paywall, you can read about this here.)

It seems Mr Carney is going to be granted a Federal-Reserve-style mandate of ‘targeting’ both unemployment and price inflation, as opposed to just price inflation. However, since the Bank of England has failed to hit their price inflation target for quite a number of years now, who was counting anyway? This Keynesian dual-targeting of both unemployment and inflation is hilariously based on the 1958 Phillips Curve, which never really worked as a model even back in 1958 and which was repeatedly smashed on the Procrustean rocks of stagflation in the 1970s, to the point where teenage boys would laugh at economics professors who tried to teach it in the ivy league halls of the United States.

However, Keynesians never let history, lost decades, or indeed logic and the unchanging nature of the human condition, ever get in the way of a good mathematical curve, especially when completely unrelated to reality and where it can be used to justify million dollar salaries for themselves personally (once again proving the unchanging nature of the human condition).

And so, after five years of quibbling with a mere half a trillion dollars of quantitative easing, the Bank of England has finally decided to really ‘rescue’ Great Britain, just as Mr Ben Bernanke has ‘rescued‘ the United States, Mr Shinzo Abe has decided to ‘rescue‘ Japan, and Mr Mario Draghi has decided to ‘rescue‘ Euroland. It seems remarkable that they’ve all hit upon the same solution, which is to print more money. Who knew it was that easy?

So why has the Bank of England waited so long outside the western central banking party before deciding to ‘rescue’ Great Britain by flooding it with quadrillions of paper currency units? Before they drown us in yet more digital scrip, however, perhaps they ought to speak first to Mr Gideon Gono, the governor of the Reserve Bank of Zimbabwe. I’m confident he has an opinion on this crucial central banking tool.

Maybe they decided against this because money printing is the only central banking tool, and if they’re to be denied this wonder drug, they may as well just all sack themselves? Though it does seem amazing to me that you have to pay a man a million dollars a year to tell you that he’s going to swing the only golf club available in the bag. However, I suppose if he wears a suit nicely, sounds vaguely foreign, and looks ‘authoritative’ on financial news programmes, it’s cheaper than hiring Brad Pitt.  We must also remember that although money printing has never done any general society any good, it has done one group of really special people lots of good, especially over the last few years, when most of them should have been made bankrupt. These people are of course the closet friends and the shadowy shareholders of the western central banks, the über-wealthy bank-rollers of the western political classes.

For they just love money printing, especially when it is used to bail out the banks they own and operate. And they’re still über wealthy as a result, when many of them should be pushing trolleys around supermarket car parks. Though collecting supermarket trolleys is honest work, and honest work is something the über-wealthy long since gave up on. Why work when printed money can steal the production of others? Just make sure that you control the people who do the printing. You can ask any mafia gang controlling a high-quality basement counterfeiter about that. And if the money you’re printing is such high quality that it is the currency of the realm, then you can laugh all the way to the Bank of England. So long as you possess the collective morals of a cackle of hyenas.

And so, as the western world wends its weary inevitable way into a full-scale paper money collapse, singing about recovery-around-the-corner all the way down the rabbit hole, we at the Euro Vigilante have a question to ask.

Do you want to continue seeing puppet politicians take your wealth and wither your entrepreneurial spirit to keep propping up their parasitical über-wealthy friends, or would you rather that the fruit of your talent and your labour generated only wealth and benefits for you? We’re still very much in the early stages of constructing bullet-proof international corporate solutions which could help you here, but if you’d like to get in on the ground floor of our service solutions, visit this bare-bones page to contact our Swiss broker. Tell him what your needs are. In a world of lies, corporate welfare, and statism, he might be able to help you reach a world of truth, private wealth, and freedom.