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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

September 4, 2012

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KILLING THE DOLLAR
By Brandon Smith

If the past four years since the implosion of the derivatives bubble have proven anything, it is that catastrophe has the ability to drown a nation slowly like a river of molasses, rather than sweep it away like a flash flood.  That said, almost every recorded collapse of modern societies in the past century has been preceded by a primary trigger event; a moment in which the mathematical certainty of failure becomes clear.

In 2012, we still await that trigger event, which I believe will be the announcement of QE3 and the final debasement of the dollar.

This timeline appears to coincide perfectly with the breakdown of the EU, which may also see a climax event in September.  In that month, EU policymakers will return from summer holiday.  German courts will make a ruling which could put an end to any chance that the country will support a eurozone rescue fund.  The Dutch, who are anti-bailout, will vote in elections.  Greece will be attempting to renegotiate its financial lifeline.  And, the ECB will have to assess the impending chaos in Spain and Italy.

As far as the Fed’s ability to remedy the fiscal situation goes, let’s clear something up right here; the Fed has no tool kit.  Sorry, but central banks have only two options when attempting to shift the tide of the economy: They can lower interest rates to zero, and, they can print-print-print.  That is it.  We’ve had TARP, numerous bailouts, QE1 and QE2, Operation Twist, and interest rates have been kept near zero for years!  These so called solutions have been strapped like millstones around our necks and absolutely nothing has been accomplished since 2008.

Real unemployment still stands at over 20%.  The housing crisis remains an unstoppable juggernaut.  Europe is on the verge of meltdown (despite the trillions in American taxpayer dollars handed to EU banks).  The national debt continues to grow at a pace far beyond what the Obama Administration and mainstream economists (who should have been fired long ago) predicted in 2010.  There are no secret magic tricks up the sleeve of Ben Bernanke.  Central banks are perhaps the most useless institutions ever devised, unless, of course, their true purpose is to diminish the financial health of a country and siphon away its economic sovereignty.

Enter the death of the dollar.  The IMF has been consistently calling for the end of the dollar as the world’s reserve currency, and for its replacement by the SDR (Special Drawing Rights). The new president of France, Francois Hollande, has recommended the expulsion of the dollar as the go-to reserve.  China has been demanding an end to dollar primacy for years.  And so has Russia…And so has the UN… It’s not as if it’s a big secret that the dollar is on everyone’s hit list.