We Interrupt Your Weekend For This Special Bulletin

133

Our old friend, The Golden Jackass, reached out last week and suggested that he had some information and analysis that couldn't wait for the next, three-day weekend podcast. Thus this special audio for your weekend listening pleasure.

So what did Jim want to discuss? Primarily the fracturing global bond and equity markets and how the BIS has been preparing for a "debt jubilee" and gold price revaluation for decades.

I've learned that whenever The Jackass has a lot on his mind, it's best to just sit back and let him pontificate with as few interruptions as possible...and that's what we tried to do here. So, sit back and take it all in. There's a lot of information in these 57 minutes and it will require your full consideration.

TF

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Joseph WarrenNed Braden
Mar 5, 2018 - 4:26pm

Re: I am shocked, shocked !

" To hear of impropriety by our public servants at our prestigious Federal Reserve ... "

Well actually they work for a private banking cartel, but you likely already know that. As Greenspan said, they are not accountable to the U.S. government or the public.

Mickey
Mar 5, 2018 - 1:23pm

diff between deficit and debt

teh govt budgets a deficit but does not have to account for entitlements and interest, among a few other things.

so the deficit is a different number than the debt increase.

so in FYR 9/30/16, Obamas last full year he claimed only a 597 billion deficit while debt went up 1.2 trillion. But all they talk about is deficit. John williams bring out the GAAP accrual losses of 4-6 trillion.

over 34 years the debt increase has exceeded the deficit in the aggregate by 8 trillion.

This is like when I bought a new set of golf clubs and paid 2500 for it but told my wife it was 1,000--if I can get away with the BS fine, but I know I spent 2500. Custom fitted Callaways incl 64 degree wedge.

thats why the CBO want to go to govt gaap accounting as the only method used by the govt.

In 2015, teh CBO presented an alternative fiscal scenario which was a 10 year projection much more than the WH wanted so the WH told CBO it could not present alternative scenarios anymore.

in effect, the only thing CBO is allowed to to is check the math of the WH budget and STFU anount other scenarios which are still too optimistic.

thats why this all crashes and burns--

oh, bill clintons biggest lie was we had a surplus, although he too lied a lot. They all do. Clinton also took the assets in soc sec and medicare trusts and used the assets to cut teh general fund deficit More BS. No accountability

note-this is a bi partisan effort.

Summary: I do not care about the deficit as much as the debt increase which is cash flow, however, if the CFRB says the deficit is going to double then debt is not going down, it too will double.

Compwiz4uonesong
Mar 5, 2018 - 12:23pm

Onesong: NY Fed & Bank Meetings

I don’t have a subscription to the Journal to read it all but I wonder if it is noted that the Fed is actually owned by the Wall Street Banks who also appoint six of the nine members of each Bank's board of directors? https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve...

abundance
Mar 5, 2018 - 12:02pm

mickey, a dumb question

what's the difference between deficit and debt?

Mickey
Mar 5, 2018 - 11:39am

research to read

1) Catherine Fitts --the state of America's Pension Funds

https://www.globalresearch.ca/the-state-of-americas-pension-funds/5630374

2) Committee for a responsible Budget

https://www.crfb.org/papers/updating-us-budget-outlook

does a decent job on their latest work but still does not recognize the treasuries held by Soc Sec and Medicare trusts as us debt not the unfunded portion.

their latest work says permanent 1 trillion deficits going to 2.4 tril in10 years but forgets to mention that for 33 years debt has increased more than the deficit with obummers lie being that the last 2 years of his adm the deficits totaled 1.2 tril while debt went up 2.4 tril--

these guys and gals holding public offices have lying in their dna.

They are fiduciaries and the way to stop it is not with a slap on the wrist if it gets that far but start sending them to prison for a long time.

Mickey
Mar 5, 2018 - 11:27am

CalPERS

Just two years ago Jerry Brown was "beaming" about how well CA was doing financially.

A lie.

A BIG BTW-Oroville dam issues? lack of maintenance since the state did not have money so they cut out that spending. What else has CA not done it should have? Like the Fram commercial; you can pay me now or pay me (more) later. its all BS.

That many people wanted to believe.

I am just about done studying these things-I know the direction and that's why I am in metals.

All these so called experts in guns? How many of them have ever fired a gun let alone owned one.

And also ask anybody if they have ever held a gold 1 oz coin before they say gold is a relic.

People like to talk about and pretend they are experts in things they do not understand.

That's mostly Congress and local state and city legislators --they have no clue on finance and economics yet they are self professed experts on that and all the social issues.

If they are so friggin good, then why are we in deep shit with finances and why do we have so much social unrest and problems. Why is the Chicago and Balt issues not resolved--if they wanted to solve it they could.

Angry Chef
Mar 5, 2018 - 10:54am

CalPERS on the Brink of Insolvency

We're all aware of the situation the pension funds such as CALPERS are in. Mickey and Dave Kranzler have kept us all informed. The pension funds are just a microcosom of TEOTGKEAWKI.

https://www.armstrongeconomics.com/world-news/pension-crisis/calpers-on-...

Default would seem to be the only solution. Or you take the Gold & Silver and revalue higher and write off the bad debt. Maybe that's what The Morgues stack will be used for.

AGXIIKMickey
Mar 5, 2018 - 10:47am

Jamie Dimon is transported

In a golden sedan chair carried by 8 burly Ethiopians on loan from the Bank of Haile Selassie, guarded by heavily armed members of the Israeli Mossad with F 18s flying high cover. This is true because I read it on the internet.

gotta have at least on laugh monday after this twat sends his monkeys to mess with gold and silver.

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NW VIEW
Mar 5, 2018 - 10:18am

Today's Green Line ....

tells us that "All is well" and the wheels on the bus have not fallen off, having all things held in check, as we anticipate that crash which will surely come:

https://www.kitco.com/charts/livegold.html

lakedweller2
Mar 5, 2018 - 10:17am

Taxi Study

Somebody needs to tell those guys and the Wall Street Journal that the Fed and the Banks are Private. There is no government in the study. They need to study taxi travel betweeen gov agencies and Fed and include the Trump hotel.

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