Had to laugh (ho, ho, haw, haw, hee, hee, hee, heeeeeee! …. ‘thud’.) early this morning when good old BNN listed the Fed. as a ‘U.S. Gov. Agency’ … which is meant to make the average Tom ‘Dick’ and Mary assume that it is all part of the Gov., voted in and paid for by the average reeling mid and lower class slob (mostly on ‘assistance’ – which leaves the ‘middle class’ doing that elephant trick with empty jean pockets). But, just because the Fed. is a privately owned banker which is taking freedom, power and treasure for only themselves, we are not to be concerned. Cleverly perpetrated, patronizing ‘benefit traps’ are rained down upon a, distracted, weary, dumbed-down populace with fantasy like expectations (except for us gold bugs of course), drowning in easily accessed $1 trillion student loan debt alone (which one cannot get out of), massive subprime car loans, forgiven foreclosures (in a ‘play it again Sam’, pass the Scotch, err ‘Bud’) redux of the housing bubble … being echoed in the rent-to-own housing bank schemes (all thanks to an artificial ZIRP, zero based interest rates for banks).

Under the second shell lies (most cleverly disguised) real wage reduction since 1980, incrementally higher taxes, 20% unemployment, 'hidden' inflation, erosion/theft of pensions/savings, formidable and rising health care (whoops!) and entitlement costs (merely in the $40 trillion range), huge corporate earnings reductions, a momentous, debt based economy, U.S. Gov. bond/debt /stock purchases via money printing … just for starters. BUT WAIT, the bread and circuses amp up with even more amusing entertainment for all with the likes of 'Honey Boo Boo', 'The Kardashians', a rare quality serial, “Breaking Bad” (to be followed by ?) … and immensely profitable NFL games on almost every other day, subsidized by almost 50% commercial time outs, paid for by the beer swilling, bumper partied, ticket buying self-same ‘slobs’ with 10 credit cards … along with millions T.V. eyeballs of their brethren… and many of the ‘aware but fatigued’ minority … all of whom are seeking diversion from the reality of today which will only be excoriated in the third degree tomorrow.

Today, the world ‘seeks haven’ in the $US, they shout on the business channels and in the Cartel fed media. “That ought to make us all feel ‘reeeeel gud’, eh”? mumbles Jonathan Cleese, actor, comedian and ‘tall person’ who fought off the Sherriff’s men with no arms and legs in a Monty Python skit.

Tomorrow BNN will tell us why silver and gold ‘holdings’ in the US ETFs are being severely diminished. Why? Well, because everyone is getting out of ‘risky gold’ and into the $US of course, ‘Clem’… not because investors want their non existent gold delivered to them that most of them can’t get. After all, there are over 50 different claims on each ounce left, if there is any. Soon, this too shall end. But in the meanwhile, for years now, the Chinese, Indians, Russians, central banks, smart, wealthy people and others continue to buy real gold and silver with abandon. Let the U.S. Gov. increasingly borrow the printed Fed. money to buy their own bonds and debt diminished currency as the Easterners exchange US paper IOU’s for gold, silver, oil, public and private businesses, mines, water rights and land all over the globe. China just leased over 10% of the Ukraine’s best farm land for kicks. You won’t see that on TV.

As for the sideshow in Congress, it’s great! Why? Because the markets will have a ‘recovery’ to look forward to when Congress deftly, finally, decides and all the speculators and scammers can short and go long ahead of everyone else. Privileged information is for the privileged, ‘Clem’. But, what’s under the third shell? You’re not supposed to notice or ask. It’s a surprise unless you read such as KWN:

Eight King World News Blogs/Audio Interviews

1. John Embry: "This Will Create a Horrific Collapse That Will Shock the World". 2. Egon von Greyerz: "3 Disasters Now Threaten to Collapse the World Economy". 3. Jim Grant: "The Fed is a Danger to the U.S. and to the World". 4. Robert Fitzwilson: "Poker End Game - JP Morgan, Fed, U.S. Treasury, China and Gold". 5. James Turk: "Catastrophic Collapse to Unleash Unprecedented Chaos". 6. Richard Russell: "Expect Massive, Radical Change in the Future". 7. The first audio interview is with Gerald Celente...and the second audio interview is with James Grant.

[Although I post all of Eric King's interviews, I wish to go on the record as saying that I don't necessarily agree with everything that's said by some of his guests. - Ed]

Read more