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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 

Condensed Articles

May 21, 2013

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A STORY THAT WILL BE TOLD
THIS YEAR
By Richard Russell

You don’t hear much about it, but the world is slowly and ominously turning against the U.S. Dollar.  The world no longer sees the U.S. dollar as a safe store of value, what good is it?  Almost every nation holds dollars in their reserves.  And quietly, almost every nation is trying to diversify out of dollars.  For many decades, you needed dollars to buy oil.  And here we see a change that will have its place in the history books.

Nations are making deals with each other to trade in their own currencies, thereby bypassing the need for dollars.  China is one of the leaders in this “bypassing the dollar” system.  Just for your edification, go to Google and type in “China’s plan to bypass the dollar.”

With Bernanke’s program of QE2infinity, the world knows that the purchasing power of the dollar is deteriorating week by week and month by month.  Recognition of this situation is going to foment a rout out of the dollar, and if this happens interest rates will rise in order to defend the dollar.  If rates rise, this will set off a massive bond market crash.

This is the ominous “Sword of Damocles” that hangs over the U.S. economy.  With the U.S. bond market measured in the multi-trillions, a bond market crash would bring the U.S. economy to its knees.  Remember, the rate on Treasuries back in 1981 was almost 15%.  Since then, the frenzy to buy and own “safe haven” Treasuries has taken their yields down to almost zero.  The bond market controls everything, homes prices, auto loans, credit card rates, state, city and federal finances – everything!  In pressuring rates down to ridiculously low levels, Ben Bernanke has rendered the U.S. dangerously vulnerable.

 

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