Courtesy Jim Willies Hat Trick Letter..

"Don't say WE. Say the US government. I do not consider myself part of the problem. Americans have to learn that the government is not US. It is an entity that has its own interests, its own life, its own agenda. It views citizens as milk cows, or perhaps even beef cows, strictly as a means to its ends." ~ Doug Casey (maverick gold investor)... USGovt interests & agenda include harbor for a giant private syndicate with deep involvement in banking, bond fraud, crude oil, weapons, narcotics, news media, and recently the pharmaceuticals

"It was the English bankers who were all about forcing the colonists onto a Gold/Silver standard, but Benjamin Franklin knew that the overseas trade would leave no physical money for the colonies to conduct domestic commerce with. It was probably the TRUE cause of the American Revolution! ... which was actually a rebellion against the banksters!"
~ Bix Weir (Road to Roota)

"Interventionism does WORK very well, for those who aspire to or who already have and do not want to give up political POWER. In fact, it is a prerequisite for gaining such power in the first place." ~ Ludwig von Mises

"I wish free money was really free, and that there was a painless way to move from severe recession and high leverage to robust and sustainable economic growth, but there is no shortcut." ~ Thomas Hoenig (Kansas City Fed President, ideological rival to Bernanke)

"JPMorgan took a short position so enormous that it was oversized relative to the global coal market, and second quarter losses reportedly were in the hundreds of millions of dollars. The commodities division is not the only area in which JPMorgan is vulnerable. Credit derivatives, interest rate derivatives, and currency trading are vulnerable to leveraged hidden bets."
~ Janet Travakoli (in Huffington Post)

"Being gold investors is like having a midsized sailboat with a long centerboard, where we tilt our sails into the monetary winds. Those winds will blow harder with each predictable QE cyclone, after each initiative fails, until the USTreasury bubble hits the wall." ~ the Jackass

GOLDEN POTPOURRI
◄See the Special Report entitled "Monetary Alchemists: Many Faces of Ruin" for the August Hat Trick Letter. Cries of Ponzi Scheme, systemic failure, and inflationary depression are coming from respected corners. Eliot Spitzer calls the USFed activities an outright Ponzi Scheme. Bond fraud and financial decay are its hallmarks. Dylan Ratigan makes an effective mockery of the bankers with props in a tragic comedy setting. Doug Casey provides some meat on the bones of breakdown and default, as he described many frightening consequences that seem assured to occur. They go beyond economics. William Pesek gives warning that the system is failing and the people are losing faith in the monetary system. Doug Noland of the Prudent Bear identifies the USTreasury Bond bubble, as the climax of asset bubbles over 25 years. Egon von Greyerz of Matterhorn Asset Mgmt offered a bold assessment. He makes a stern warning about the end of days. He adamantly proclaims no Double Dip recession will take place, but rather a slide into the abyss, better described as a hyper-inflationary depression. The Jackass concurs. With choices of rabid monetary inflation versus painful austerity spending programs, the United States will choose inflation without a blink of the eye, without a hint of hesitation. He points to the accelerating debts as feeding an identifiable Ponzi Scheme in the USTreasurys. He describes the financial foundation as precarious and lethal, and the slight deflation in progress a prerequisite for hyper-inflation, a point in full agreement. He anticipates the Quantitative Easing response will accelerate in the US and worldwide all together in harmonious policy, a process never seen before. He calls the American sovereign debt situation much worse than the European version, which has been exploited by the US Admin as a diversion. These respected men refer to what the Jackass has described as systemic failure for over two years.

Contrast the above financial denizens to a cast of clown charlatans who fail to understand money or capitalism. Their viewpoints lack substance. Their failures are in the open. Yet they remain in charge of the monetary stores. They sing in unison songs of reckless stupidity, lacking any thread of capitalism or capital formation, surely not legitimate income sources. They promote fascism instead. They remain fixated on empty notions like inflation expectations, when industry should come into focus. Witness the head clowns in economist suits, the main money alchemists, the destroyers of economies. Modern Western economists are the whores to the bankers. A grand experiment continues, with complete destruction and ruin assured, maybe the master plan. The important banker posts are filled by lackeys of low stature who follow orders from the watch tower. The field engineers print and dispense phony money, making sure to channel it through Wall Street. They manage inflation, and preside over the resultant wreckage. These fools are experimenting with the entire USEconomy, unable to observe the damage that liberal free money off the Printing Pre$$ inflicts.

USFed Chairman Bernanke serves as a bank industry facilitator, seen in the dozens of liquidity funds that actually have replaced the banking sector itself. Ben serves as a Congressional ombudsman, seen in the endless parade of meetings where he justifies his heresy before fawning and feisty representatives and senators. Rising costs and falling asset prices lay the groundwork for another powerful round of Quantitative Easing, the movement of the inflation engine into second gear. The tipping point of both USEconomic depression and Price Hyper-Inflation is near.