Truth or Consequences

One of the only game shows in American history to air during five different decades was Truth Or Consequences, which began on radio in 1940 and continued, off and on, for almost fifty years. It survived the switch to television in 1950 and the replacement of four different hosts along the way, airing its last episode in 1988. I have vague memories of being home sick from school and watching this show, unaware at the time that it had been airing since before my father was born.

The premise of the show was quite simple: the host would ask you a question and if you didn’t know the “truth” (provide the correct answer) then you would face the “consequences” (usually a silly and somewhat humiliating stunt). Of course, the draw of the thing was to see people have to do something stupid and mildly embarrassing, coupled with the apparently universal attraction of watching other people Win Valuable Cash Prizes!!!  But if you look past the vapid, mindless entertainment aspect, I think the premise of the title was actually quite profound.

Truth or Consequences. If you take the time to learn and understand the reality of the situation around you - the truth - you can act to avoid unpleasant consequences. Remain ignorant of the truth or ignore it, and the odds are good that something rather unpleasant awaits, as reality is certain to deliver its consequences.

Human beings have the extraordinary capability to 1. Mentally build models of the vastly complex world around us, (what I will call “reality”) and 2. Conduct ourselves and plan our activities with these models in mind (to act based on our understanding of reality). We do not have to have actually been personally mauled by a Tiger to realize, based on our mental models of the world around us, that it might not be a good idea to stick our hand through the bars of its cage and try to feed it Cheetos. We can plan, strategize, and anticipate situations that haven’t even happened yet and adapt our behavior accordingly to lessen or avoid altogether the negative consequences that we know reality can deliver.

Given that we have these capabilities, and given the fact that reality is all around us all the time, one would think that people would be fairly good at dealing with it. Alas, one would be quite wrong, because human being also have another fairly amazing capability; many of us have the ability to ignore or deny reality when those facts are uncomfortable or inconvenient to us.

My country, the United States, is in the midst of just such a denial on a grand scale- one that I am sure would look familiar to citizens in western nations around the world. We take in, via tax revenue, about 2.4 trillion dollars per year. We are spending around 3.6 trillion per year. Our current budget deficit is therefore more than 1 trillion dollars per year, added to a total current debt of over 17 trillion dollars.

According to laws already passed in our country, there are at a minimum an additional 86 trillion in unfunded liabilities which must be paid in the coming years on top of the current debt. This figure (some estimates are far higher) comes from Chris Cox and Bill Archer, one a Democrat and one a Republican, both of whom served President Bill Clinton (Democrat) on his Commission on Entitlement and Tax Reform as chief advisors (link). According to their calculations, it would take more than 8 trillion per year in tax revenue, year after year, to meet these unfunded obligations and balance this budget. You could confiscate the entire salary of every taxpayer in the US earning more than 60k per year, and would only net 5 trillion per year… so current spending levels are massively unsustainable. 

This is basic math, and it is reality. In light of this, it is interesting that the two major US political parties, the Republicans (fiscal conservatives) and the Democrats (fiscal liberals), have just reached a budget “compromise” that will supposedly set the course for our nation’s spending for the next decade or so. The fiscal liberals (Democrats who control the Senate under Majority leader Harry Reid) wanted spending to continue at current levels, and higher if possible. The opposition, however, controls the House of Representatives and according to our Constitution, this is the legislative body that has primacy in setting taxes and spending.

The fiscal conservatives, led by former vice presidential candidate and budget “hawk” Paul Ryan, just resoundingly passed a budget deal which cut spending over the next ten years. By 0.0005%. That’s five ten-thousandths of one percent. If they would have agreed to cuts 100 times greater than those in this bill, it would effectively balance the budget… in 200,000 years.

I lived in Nevada years ago, and at that time current Senate majority leader Harry Reid was a newly-elected senator from that state, so I have paid some attention to his career. He is without question one of the worst demagogues on the national scene, having no hesitancy to slander and defame his opponents in the rudest, most outrageous terms possible. He is an expert at passing legislation through chicanery, often employing outright bribes to fence-sitting senators (the ‘Cornhusker kickback’ to pass Obamacare being just one of many instances). His use of procedural trickery is legendary, “deeming” a bill already passed to avoid needing 60 votes to avoid a filibuster, for example. Along the way, he has used his position to enrich himself and his children to an almost unbelievable degree. Despite growing up poor and earning nothing but his “public servant” salary (less than 200k per year even at its peak) for all but 2 years of his adult life, he has nonetheless attained a net worth in the many millions (and so, revealingly, have his otherwise sparsely gifted children) by using his power to carve out bribes, facilitate shady deals, and enrich certain campaign donors who, in turn, enrich Harry (link). 

But Harry Reid, as slimy and conniving as he is, serves his constituents far more honorably than his supposedly conservative counterpart Paul Ryan. Reid is at least honest about his goals, as the people who vote for him know exactly what they are getting: a promise to hollow out the middle class and pay off his big money donors at the top and his union supporters and the citizen clients of the state at the bottom. In short, he is terribly destructive but he must be credited for being completely honest to his constituents about seeking that destruction.

The Republican Paul Ryan, on the other hand, is far less honorable than the lying, bribing, grifting and cheating Democrat Reid. Ryan tells his constituents that he understands the fiscal dangers ahead, knows intimately the terrible consequences of not acting boldly to reign in unchecked government spending… then once elected and entrusted to carry the banner for fiscal prudence, is unwilling to fight for meaningful reforms of any kind to the present system. He proposes and trumpets “budget cuts” that are so laughably inconsequential that his opponents must surely, in private, wonder at his sanity or speculate that perhaps someone somewhere has a few incriminating photos of the man. If so, there must also be similar photos of John Boehner, Mitch McConnell, and every other Republican “leader” who seem to largely spend their time vying with each other to see who can be the first to neuter any genuine move towards fiscal sanity, each jostling to earn a few minutes of press time to trumpet their “bipartisanship” and “reasoned compromise”. These, apparently, are acceptable descriptors for referring to the callous betrayal of one’s constituents.

Reid, on the other hand, pursues his agenda with gusto. He is so unrepentantly committed to big spending that in 2009, when his party controlled both houses of Congress and the Presidency (and thus could pass literally any bill they wanted without a single opposition vote), he refused to even have a vote on a budget, so as to ensure that the spending could be carried out literally without limit and without having to defend it to constituents.

But Paul Ryan is even worse because he and his cowardly clutch guarantee there will be no opposition to such schemes, since they promise to play that role on the campaign trail then immediately recant upon assuming office. Ryan and company ensure that Reid and his merry part of drunken sailors get nearly everything they want. Ryan and his ilk deny the American public the mere chance of a genuine opposition.

I suspect that readers in virtually every western country will recognize a similar dynamic- the “let’s do more” spenders careening along and the token opposition, so cowardly and incompetent by turns, that the spenders are guaranteed victory at almost every turn.

But remember the title of this post: Truth or Consequences. Ryan and Reid, and their counterparts throughout the western world, ignore the larger mathematical reality. They deny the self-evident truth that something which is unsustainable cannot, in fact, be sustained. Through their irresponsible and self-serving actions, they deny reality itself. These men would do well to remember that reality doesn’t care that they find it unpleasant to contemplate. Reality doesn’t give a rip that it might inconvenience them, or that they may lose reelection. It doesn’t care what their opinion is. Reality is reality.

What does all of this have to do with precious metals investing? Simple: The trend is your friend. As long as the fiscal floodgates are open, as long as currency devaluation and untrammeled spending are the norm, it would be wise to face that truth head-on… and to prepare for the consequences accordingly.

109 Comments

silver66's picture

I'll be damed--FIRST

what a day, a first here and my Leafs smoked the Blackhawks (sorry Gold dog)

TomMack's picture

LCS update

tooth (2nd)

i stopped in the local coin shop.  i didn't have much time or money..... anyway they were calling spot $19.71.  i got a little 90% uncirculated mercury dimes (common dates) for 16.50 per face dollar or $23.08/toz    they were selling silver eagles for $23.71.   the $4 premium is the highest it has been in a while.

pontiac's picture

Fourth

I saw your leafs get taken down in Pittsburg after leading 4 to 1.   The penguins won 6 to 5.  It was incredible: third period penguins had 17 shots on goal-- leafs had no (zer0) shots on goal.

silver66's picture

Pontiac

Lets stay focused on the present, not the pastwink. Yes they crapped the bed that game, but if you are a true leaf fan, you forget the past debacles and focus on the last win(cause losses are flukes and wins are based on skill)

Silver66

ag4me's picture

Which happens first?

The leafs win the cup or silver hits $100?

Silver to $100 for sure.....sorry...I'm over 40 and have never seen either...

Keep hoping though, eh?

mac's picture

Yellen and Fisher

the government's "elected" actors are under the power of the Fed while they steal all you have....

their job is keep you confused, off balance, and arguing - they are living "sleeping pills", these liars, these pretenders.

America has a problem and no one to help, not in this den of thieves....

JY896's picture

Laws of gravity

Options involving this particular aspect of reality:

  or 

There was also once this French doctor, who opposed capital punishment, especially carried out by axe/sword (nobility) or rope (commoners) in his day. He proposed a more humane and egalitarian method which ALSO utilized Newton's law of universal gravitation...

Despite the levitation tricks being displayed daily by the FedResSys enablers and the enabled, the laws of physics DO eventually assert themselves. Remember, what is propping all of this up is a confidence game, a willful suspension of disbelief -- like you said, ignoring the truth.

At some point, the cracks in the glass floor will be too large and too loud to ignore:

Lintltj5's picture

Those Leafs surprised me with

Those Leafs surprised me with that blowout win tonight. Ticked that I benched Mason Raymond on my fantasy team and he got 4 assists. Funny to mention this on thread about reality, but there is a very real (or not, depending how you look at it) $140 for the season champion.

Great post Pining! I love articles like this because they delve into more than just "why did metals do that today". The financial markets are consequences of even deeper problems, of which denial of reality and truth are at the top. Look all around in society and this denial is plain as day. People are so full of pride they they think that rules and consequences do not apply to them and that things should and will be different for them. Many of these people are even slapped in the face with reality and still deny it. They are like Pliate, always asking "Quid est veritas?, in the same mocking way. 

Things have become so easy and so unreal, that when they disappear or stop working many people are going to be in a world of hurt. 

There's a great book called Better Off, in which a college kid decides he is going to spend a year with the Amish to prove a thesis for college which states that the Amish are better off because they do not have technology. In the end he finds that its not so much that they have no technology, because they do, but that they have set limits on technology. They have asked the question "When is enough enough?". Its a great read and a true story. I have been told that there are Greek and Roman essays on the same subject of too much, as well as an essay by St. Augustine, but I have not yet found the time to look into them. Im sure they would be great food for thought.

Another book along the same lines is See You in A Hundred Years. 

BTW, I drove through Truth of Consequences once on a college road trip and bought a magnet to remember the occasion. It still sits on my fridge.

infometron's picture

Thanks pining...

4 giving new meaning to a little R&R!

sierra skier's picture

TOP 10th

Neither party represents the folks any more. They both spend far beyond our capacity to remain within our budget on their pet projects. This has been going on for decades now and shows no indication of change. Our economy is so far beyond being capable of paying off the credit cards of the past deficit spending as to be useless.

I'm certainly glad our household has managed our finances more responsibly, otherwise my wife and I would be shopping for the largest cardboard box we could find to move into.

abguy4's picture

Super work again Pining4

Super work again Pining4. Piles of hat tips in your general direction.

silver66's picture

@ag4me silver or Leafs

I am an optimist deep,deep down not delusional!!!!. Silver is hitting $100 before the Leafs win the cup. but then again they could win the cup next year. Then that would be a double win.....LOL

silver66

pontiac's picture

Law of gravity

    I was at a Christmas dinner last night and was explaining this same concept of how 99% (except us) have a vested interest in propping up tptb and believing everything is normal.  No one wants to see the fraud and deceit and there is no government to enforce the laws.  But, I said that this sentiment historically can change very rapidly and the whole facade can come tumbling down.

   The response was, "How many people have you told!!!!".  In other words, don't go telling the truth to anyone else and I won't mention it to anybody either; we can stop this sentiment change in its tracks right now!    This is what we are up against.

     I have just about resigned myself to giving up trying to convince the clueless, because the gold and silver market has only made me look like a fool in their eyes, when out of the blue I finally make a convert.  I showed Maloney's "Hidden Secrets of Money" #4 to my brother in law and he was shocked.  It has opened his eyes. 

    But I still have the issue of whether it is better to wake people up and bring the whole system crashing down or to let them have their fantasy a little bit longer.  I think that it is this normalcy bias that gives tptb the power to extend and pretend.

Wizard's picture

Superb Piece Pining

Speaks directly to normalcy bias that so permeates a good majority of the population today even in the face of overwhelming facts smacking them right in the face

Thank You

W

Wizard's picture

Something that struck me funny on a snowy Sunday

I am sure that most here understand that as the wheels get closer to coming off the bus with this wonderful economic recovery we are in the midst of. (Sarcasm) that those at the top of the food chain will begin to attack each other. With that thought in mind I present the latest statement from Brad Smith, Microsoft’s EVP of Legal and Corporate Affairs.

Labeled the American government as an “advanced persistent threat” in a December 4 post on The Official Microsoft Blog.

The term advanced persistent threat (APT) refers to an attacker, usually an organized group of malicious attackers, that should be considered harmful and dangerous — and an overall method of attack that plays a “long game.”

http://climateviewer.com/2013/12/07/microsoft-labels-us-government-cyber-criminals/

http://blogs.technet.com/b/microsoft_blog/archive/2013/12/04/protecting-customer-data-from-government-snooping.aspx

treefrog's picture

new poster child for global warming

1470225_10152172387562650_2140075768_n

yes, that's the sphinx...

yes, that's egypt...

yes, that's snow.

Occasnltrvlr's picture

The GCR

The Chaplain's recent pronouncement made me go back and re-listen to several of the Jackass's interviews.  This has me concerned.  Please, anyone weigh-in with thoughts or comments as to:

1.  Will it really happen?  (I.e., a GCR in any form, in, say, the next year.)

2.  Form?  (I.e., FOREX-type reset of rates, or wide-scale introduction of non-currency gold-backed trade notes?)

3.  Biggest beneficiaries?  (Norway?  Australia?  Panama?  Mongolia?  Turkey?  Bueller?)

Many thanks for anyone's thoughtful contributions!

murphy's picture

Wizard

as a follow up article to Microsoft. I give you IBM and Cisco and how NSA affected their foreign business.

Spicy allegations: The plaintiff claims that IBM lobbied Congress to pass legislation that allowed IBM to transfer personal data of its customers in China and other countries to the NSA in an effort to protect its intellectual property rights. In doing so, IBM jeopardized its hardware sales in China. Revelations like the “Prism” program, through which the NSA spies on other countries via US tech companies, induced China’s government and companies to suddenly curtail business with IBM. This, the plaintiff claimed, produced a 22% drop in revenues in China, including a 40% plunge in hardware sales.

The plaintiff is not only going after IBM but also after CEO Virginia Rometty and CFO Loughridge, claiming they too should be held liable for keeping stockholders in the dark about the risks of its lobbing activities and its cooperation with the NSA.

“These allegations are ludicrous and irresponsible and IBM will vigorously defend itself in court,” IBM spokesman Doug Shelton wrote Reuters in an e-mail, all evidence to the contrary.

Most of these cases get settled out of court after a few years of expensive wrangling. The plaintiffs’ lawyers get even richer. The plaintiffs themselves – the stockholders – might get a few cents a share, or nothing. But for IBM, it’s going to be expensive.

It was just the first shot. Numerous other tech companies are in the same boat. Cisco CEO John Chambers called the NSA spying scandal, and what it did to revenues in China, “challenging political dynamics in that country.” It was a problem in other countries, too. “Our top five emerging markets declined 21%,” he said, “with Brazil down 25%, Mexico down 18%, India down 18%, China down 18%, and Russia down 30%.” His industry peers had the same issues; the sudden revenues plunges were “an industry phenomenon,” he said [NSA Spying Crushes US Tech Companies in Emerging Markets].

And so class-action lawsuits too will become “an industry phenomenon.” In this manner, the true costs of the all-encompassing spy dragnet are beginning to cascade through corporate income statements – not only in lost sales but now also in legal expenses and settlements.

http://www.testosteronepit.com/home/2013/12/15/unleash-the-lawyers-mounting-costs-of-nsa-scandal-to-bleed-u.html

Turd Ferguson's picture

Can't disagree

MODERATOR

Posting this just in case EricO stops by devil

http://nypost.com/2013/12/15/how-the-west-was-lost-2/

It’s official — the government of the United States of Obama consists of boobs and bores and is led by a narcissist. It is no consolation that Great Britain joins us in racing to the bottom.

President Obama’s flirting with Denmark’s prime minister would be shameful on any occasion. That it happened at the memorial for Nelson Mandela only adds to the embarrassment.

But the “selfie” episode also symbolizes the greater global calamity of Western decline. With British prime minister David Cameron playing the role of Obama’s giggling wingman, the “look at me” moment confirms we have unserious leaders in a dangerously serious time.

Dr Jerome's picture

Reality and logic

In a lifetime of trying to figure out what makes people tick, including myself, I have concluded, as Pining eloquently points out, that even crazy people follow a strict logic in their decision making. Their reality is simply different. But if you enter into their world of convoluted reality and delusions, you will find consistency and see that each of their decisions is rational. But from the outside, it appears irrational because we have a different reality.

I believed that silver was going to break above 50 and move up to 75 in a matter of weeks back in 2011. That was my reality. So I decided to borrow on a 0% credit card and then bought silver at 45 expecting to sell at 75 and pocket some ounces for free. My plan was entirely logical. My version of truth was affirmed by the silver bear cartoons! Even after the slam from 49 down to the low 40's I tried to catch the falling knife, stubbornly holding to my reality. But I have not told my relatives what I did, knowing "they wouldn't understand." 

Today the card is paid off and I hold that $45 silver, waiting for my version of reality to coincide with actuality. Today I am happy to have that metal in my pond.

Seems like life is a struggle to find truth, create a reality that is close to truth, and make our decisions and follow through, constantly adjusting reality to new data that comes in. Perhaps the actual truth is finally merging with my premature reality of metals to the moon.

JPM being net long is new data.

By the way...anyone recognize this geek from his HS yearbook pic?

I can almost see his lip quivering...

Kerbouchard's picture

P4

Well said! 

Your comparison of Reid and Ryan dovetails with my feelings about the Mafia and Government.

The Mafia, at least, are honest in their intentions.

Edit: Dr. J, he looks like a future chopper pilot!

JY896's picture

Put away the BenShalom...

...you're scaring the children, Dr. J... :-D

Hey, at least you bought physical, not opened a long call position the day before MayDay 2011. That would have been TRULY irresponsible, delusional and just plain dumb... :-]

Compared to the overwhelming majority of society without a single ounce, you will be sitting pretty with that $49/oz stuff. Spending the opportunity cost on insurance premium is not a loss, but a business expense.

Nick Elway's picture

@pining hot springs NM @occasnl Lindsey forum

The people in Hot Springs, New Mexico so loved the Truth or Consequences show they promised to rename their town should the show broadcast from there.  And so it was.  I've stopped there many times for food, gas, or a soak.  Thanks for your great post.

@occasnl There's a forum for Lindsey discussion:

http://www.tfmetalsreport.com/comment/368162#comment-368162

As I heard it, the reverend actually said "possibly" in 90 days so he has an out.  The only particular currency revaluation  he mentioned (almost as an aside)  was China Yuan to go up 30 per cent versus the USD.  I got some Yuan currency to hold just in case.

Human Mushroom's picture

Re: The GCR

I've followed the Jackass for years, however, I stopped my subscription a couple of years ago. Jim's newsletters are fantastic in detail, but I learned that the elite's political and financial maneuverings happened over long periods of time (years). I found myself growing weary learning and understanding all the underlying details as things happened at a snails pace.

I'm of modest means, so the details wasn't really helping me much. I just needed the "big picture" overview which Jim Willie provides very generously.

I also learned of Lindsey Williams about 2 years ago as well. He also provides a "big picture" overview. He's just a messenger, passing along needed info as he gets it.

Both these gentlemen provide me with information I feel I need from two different perspectives. Lindsey get it from the head honchos playbook, and Jim gets it from the trenches. They compliment each other nicely.

As for your questions:

1. Will it really happen?

I have no doubt it will. The elite want everyone and every nation to owe massive, overwhelming debt by 2015. In other words, the company store will own everything when everybody defaults on their loans, and the elite have a plan to trigger the default by collapsing the 1.5 quadrillion derivatives market in 2015.

In the mean time, the safety net of gold and silver is being removed from the average person that isn't seeing, and doesn't want to see, the writing on the wall. It's rather ironic that gold and silver is being made more affordable for the average person right now, but they are blind to this fact by talking-heads on the idiot box. They simply ignorant, and really, they like it that way. No worries. Today is ok, so tomorrow will be, too.

The Global Currency Reset (GCR) is a birth pang of the 2015 event, which will help the existing currency system stay afloat until even more debt is accrued by everyone.

2. Form

My understanding is the the NWO will sweep in to supposedly save people from great hardship and death after the system collapse in 2015. That when a NWO currency will become available. Of course the people of the world will be slaves and serfs to the new system.

The soon to happen GCR is just a realignment of the current fiat currencies of the world's nations. The elite don't want people protecting themselves with gold and silver. People with real wealth don't make very good slaves.

Isn't also ironic that China tells it's people to own gold and silver? China knows what's coming and the leaders don't want the people to revolt. They won't need to if they are already protected with gold and silver.

On the other hand, the U.S. cronies are making sure that as few people as possible even know what gold and silver is. In fact, our own government is gearing up for war against its own people. In other words, the U.S.A. is being systematically destroyed to remove freedoms. The NWO wants obedient slaves, not freedom loving individuals with gold, silver, and guns.

The soon to happen GCR will push a vast majority of U.S. citizens into the government dependency camp.

3. Beneficiaries:

Doesn't really matter much which country may benefit. It's only a perceived benefit. The countries are still using fiat currencies and still in great debt. In 2015 the NWO should be removing all fiat currencies and issuing its own currency of some kind. That's when your gold and silver help you. The current price based on the Dollar doesn't mean much.

That's my view and understanding as provided by information derived from Lindsey Williams and Jim Willie.

I hope none of this happens. It's going to suck in a major way, even for us with gold and silver. I like being able to go to the grocery store, or the hardware store. I like Disney World. I like being able to buy gasoline for my car. As bad as the status-quo is right now with all the evil in government, I'd rather have this than what appears to be coming.

Occasnltrvlr's picture

New Meaning to the Phrase...

..."Frozen in time."

Look very carefully at the people and the vehicles.

Ironic, isn't it, Mr. Gore's cause duped by his own invention?

Nick Elway's picture

too bad eric o bought the left-right definition

Quote:

Speaks Volumes Eric Original

It really speaks volumes that you are far, far, far, right wing enough to be delusional enough to characterize guys like Nixon and McCain as "progressive a-holes", Turd. I can't believe I ever supported this website. Ever.

I miss Eric O and his canned bacon.

Whether Nixon deserved the "progressive" label or not may be debatable, but "statist" certainly fits Nixon, McCain, and Paul Ryan.

Sandiaman's picture

Looks like Boner!

Looks like Boner!

Robespierre's picture

Who are The Shills ????

Gold Promoters Are Part of the Manipulation Against Investors

shill

I have gotten a lot of emails asking who is who in trying to deliberately mislead investors. Let me state this up front. There are plenty of “shills” out there who are paid to put out bullshit to whip the public into a buying frenzy so the pros can sell the highs. EVERYmanipulation I have ever seen in the metals has been to the UPSIDE not downside, for just get the metals up and the buyers assume this is the time and rush in. Only rallies areREAL to them and declines are fake. Sell gold down, and the diehards hold until they have nothing left and they lose the house, the kids, the wife, and the dog. I do NOTbelieve Jim Sinclair is one of the Shills who is paid under the table by the bankers. We may disagree on timing and reasoning, but that is the extent of any disagreement. I believe in what goes up also goes down and I look at the entire world not just one sector or market and certainly not just the domestic economy,

The decline in gold is NATURAL and NECESSARY to set the stage for a future rally. There is a TIME and PLACE as well as PRICE for everything. As to why the pretend analysts with their shows do not quote me, the answer is very simple. They want people to ignore me and they only try to sell gold – not buy.

I have always worked behind the curtain where I have seen it all. I have had PhiBro walk across the pit and show my brokers their book to try to get me to join. I watched the manipulators get the press touting the Hunts to get everyone in so then could crush the market and had the exchange rig the margins so it was minimal to go short and required more margin to go long. I had AIG get in to see me to try to get me to join the club on the coat-tails of one of their board members Alan Walters who was a personal friend and former adviser to Lady Thatcher. I have seen it all and that is why they do not dare want me telling anyone what really is going on.

London Destroyed

I have been forced to come out in front of the curtain. I can retire and go off to some island and wait it out until I die. But I too have family and what kind of a future they face because of all this nonsense does not let me sleep beyond 3 hours at night. What I have been put through was for a reason and those who try to ignore me are only exposing their own lack of integrity or bias. I really do not care what they think of me. It means nothing to me. I just consider the source. They will one day wake up and see while they are fighting with their own egos, they risk losing all liberty because the real battle is not with me, it is the man with the tanks and guns. That will start to become very clear in 2014. All they are interested in is filling their pockets and forgetting they are playing with the risk of war and a Dark Age unless we steer this ship through the treacherous waters ahead.

So anyone who quotes economists or analysts and what they see for 2014 while refusing to mention this work, are obviously not independent and are either biased or have some other agenda.Typically you report contrasting views. I really could care less and prefer not to do interviews unless I know the person for they rarely get it right. It is what it is. They are more interested in controlling what you hear than providing an honest perspective. I never courted the media because our institutional clients who paid big bucks did want to read that same information on front page of a newspaper for free.

Do not worry about if they try to cover everyone but what you read here. It is either bias or control – the same reason Snowden did not get Man of the Year by a US magazine. Right! Like they would not do whatever Obama told them. Just look at what any so-called news show is promoting and if there is some particular outlook it will be easy to pick up. Just like Fox puts out conservative news and other support Obama. We are not dealing with independence here. It is always some agenda.

NOBODY can forecast the future on a consistent basis from a personal opinion perspective. That is just irresponsible and impractical. So placing EGO before the welfare of readers is not acceptable in the real world of analysis.

In the early 1980s, I had lunch in Geneva with the head of one of the major Swiss banks who was a client. I asked his opinion what name should I use for the company when I was to open my first European office. I assumed there was an undercurrent of anti-Americanism so I thought we should have a separate European name over there. He asked me to name one European analyst. I could not. He laughed and said there were none because if he was French, British, or German, they all were bullish their own countries. He then told me why all the major institutions relied on our firm. He said I did not care if the dollar would rise or fall. It was that lack of bias that made us the largest firm ever with more than $3 trillion under contract. Nobody has ever come close to that. That is why I was even asked to testify before Congress.

I have been behind the curtain. Met with governments from Asia to Europe. Their problem with me is I have the experience. They know that. So if you want to put out an agenda, I do not need the money, cannot be bought, been there done that, and am awaiting me exist from this insanity we call life plagued by manipulations and hidden agendas. So those who do not quote our work – it is usually because they are promoting a different outcome.

AlienEyes's picture

Ryan and Reid

I don't see it quite like that, Pining.

Reid is an arrogant naked socialist and a filthy piece of rodent excrement. (I'm trying to be nice)

Ryan is a common, garden variety, lying bastard (which is simply a prerequisite for congress) that has probably taken a major bribe. Ryan is NOT a Tea Party type except when it comes to money...which he lied about. Therefor, he is a RINO and nothing but a RINO. A low-down RINO mofo.

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Dr. J,

I think the guy is Marilyn Manson and I'm sticking to it.  smiley

atomic180's picture

Greenspan...

Greenspan...

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