A Fairy Tale

Once upon a time, in a land far away, a silver haired fox, err… prince, named “Crooked Willy” dispatched with haste and a purse, rescued two valiant maidens from the altar of another bankrupt, but evil empire. All media was consumed in the heroic deed as the Prince returned to the kingdom of “Castles in the Sky”. The peasants, with increased taxes staring them in the maw, lower wages, higher rents and decreasing increases in unemployment, knew not of the booty paid out to save the princesses of Gore. They were too busy taking advantage of the “cash for old hags” upon a financed purchase of a healthy young, imported draft horse. The new lead ducat currency was simultaneously being cranked out at a breathtaking rate and pumped into the accumulating artificial money supply. To discourage faith and investment in real currency, gold, the bean counters of the kingdom pressed on with their ill-fated scheme of issuing much vaunted paper certificates, hopelessly levered on what little gold holdings they had…for most had been secretly sold off many times over…and no peasant had ever seen the vaulted treasury for over 50 years.

Meanwhile, down in the bowels of the kingdom, much grist for the propaganda mill (MOPE) was accumulating to smother any indications of the coming famine which the good Prince Sinclair had been moping about for years. It seems the peasant’s perceptions of reality were being toyed with by “the boys” even though fewer of those self same unwashed could pay taxes required desperately for increasing expenditures of the realm, already perched upon a mountain of debt. The result of this is apparently that the losses become geometric in scale with the backdrop of business activity dropping at an increasing rate. No matter, corporations can just borrow money by issuing bonds to pay higher dividends on less earnings. With all that new, devaluing money being circuitously fed into the markets, they just have to go up.

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