Furthest Right

It won’t be good when we all buy a clue

There are some very smart, truly ruthless people who get that Amerika is on fire. Aaron Clarey explained the process above. The nicer ones will tell you quietly and privately that our economy is dying of leprosy. They are making their discreet plans and subtly edging their way towards the exit.

They aren’t quite ready to yell “Fire!” yet. They’d rather have you believe it’s just unseasonably warm because of El Nino and Global Climate Change. But what happens when the slower ones catch on? At that point the resulting confusion should be more amusing than Father’s Day in Mobile.

You’ve heard of Bitcoin, but probably haven’t read up on SETLCoin. SETLCoin is how Goldman Sachs firewalls itself off from the economy upon which it feeds like a vampire. I’ll fill you in on the details.

On November 19, the United States Patent & Trademark Office (USPTO) published Goldman, Sachs & Co.’s patent application 20150332395 or “Cryptographic Currency For Securities Settlement.” Described are “ […] methods for settling securities in financial markets using distributed, peer-to-peer, and cryptographic techniques ” using a cryptocurrency named SETLcoin. The application lists Paul Walker and Phil J. Venables as the inventors of the technology.

Paul Walker is the co-head of technology at Goldman and a member of the Board of Directors of the Depository Trust and Clearing Corporation (DTCC). According to Nathaniel Popper’s book “Digital Gold” and his adaptation for American Banker, “When Goldman Sachs Began Flirting with Bitcoin,” Walker led a panel to educate the banks clients about virtual currencies. Popper writes that Walker, “indicated that the bank was taking a hard look at how the blockchain might be used to change basic things about how banks do business.”

Maybe a few of the Sheeple have elected to awaken and are fearing the wolf that is gorging on their economic future. The DOW is off 400 points to start off our brave new trading year, and the Chinese stock exchange had to shut down automated trading after 7 minutes.* The same guys patenting their backdoor currencies tell us to pay these omens no mind.

It’s more drama than data. Mid-east geopolitical conflict driving a lot of today’s moves. Stocks & bond yields down. Gold & dollar up. — Jeffrey Kleintop (@JeffreyKleintop) January 4, 2016

Jeffrey Kleintop may be accurate. It could go right back up the rest of the month. It may be that every other currency on the globe sucks compared to the dollar and it may be that we remain the finest battle charger in line for the glue factory. As long as the US of A can export the impacts inflationary bubbles in the form of our currency, we get to have our cake and eat it too. However, the reasons we saw the sell-off may be more durable and more profound. It could be that an awful lot of rubes have figured out how worthless their assets have become and are now in a race to cash them out while somebody else still thinks they have some intrinsic worth.

Would it be “Mad Max?” Would it be “1984?” To quote one idiot on YouTube, it could even turn into “Marshal Law!”** Well no. At first, it will turn into Argentina instead. Things will just gradually stop working. It will fall apart at the rate at which entropy functions. You just lose functionality 1 system, 1 machine, and 1 location at a time. But this isn’t fun. My opening paragraph promised a good, amusing wreck. What I’ve described above is worse than watching a 500 mile NASCAR race and not seeing a single Redneck hauled off on a stretcher.

The fun starts when people no longer believe that things will all work out OK. Amerika is a faith-based economy. They laugh at me for believing in Jeebus Da Sky Fairy, but then tell me that The US Dollar is the world’s reserve currency and therefore does not have to be intelligently managed or adequately collateralized to be an effective store of value. When Thomas logically disbelieved in The Holy Ghost, Jesus could put up rather than shut up. He was totally prepared to let Thomas see the nail holes in his hands. Am I an apostate for holding Paul Krugman or Janet Yellin to a similar skeptical standard?

The real collapse and secular version of gory scenes from The Revelation will occur when about 300 million people decide the US Dollar is only is as good as the full faith and credit of the United States Government. At that point they ask themselves if they would logically trust either George W. Bush or Barack Obama. How you answer both of these questions should allow you to make a logical estimate of how long it is before Amerika dies in the ditch like the banana republic it is increasingly becoming.

None of us know the hour or even the day upon which the male bovine scatology gets completely disbelieved. But we do have a pretty good idea of the timescale. The timescale is not much longer. The milestone event that future historians believe constitutes the official fall of The United States of America will undoubtedly occur during most of our adult lifetimes.

* – That doesn’t ever happen because people are doing too well.
** -My hands and face are not big enough to adequately facepalm this. The term is Martial Law.

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