Rockefeller's Bubble Underway.

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"We are grateful to the Washington Post, The New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years. But, the world is now more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries." David Rockefeller - 1991
Can anyone really dispute the fact that Rockefeller's comments back in 1991 weren't prophetic? The world really did change in the 90s. What changed you ask? The list below is short, but these 3 things really did redefine global economics:
  • Establishment of the World Trade Organization in 1995.
  • Introduction of financial derivatives in the 90s that led to the Commodities Futures Modernization Act, signed into law by Bill Clinton in 2000, establishing over-the-counter derivatives as unregulated instruments.
  • The signing, again by Bill Clinton, of the Financial Services Modernization Act of 1999 that effectively repealed Glass-Steagall.
Rockefeller's message was a simple one - give us control and we will do a much better job of managing things. The idea that they could really do that is flawed at its root, but the evidence on the matter of whether or not they have attempted to do that is overwhelming. Listen to any broadcast on business matters and markets and see how much time lapses between comments about one central bank or another. We seem resolved to the idea that central bankers really are omnipotent and that they have the solutions to our economic woes.
The problem, they are not omnipotent and they haven't succeeded in producing a better world. To the contrary, they've been responsible for creating 3 market bubbles since the reins of power were turned over to them. As one who has a pretty good grasp of macroeconomics, it is obvious that we are at the threshold of entering a worldwide depression not unlike what we experienced in the 1930s. The evidence of that is pretty compelling for those who understand.

Summary

  • Crude's fall is not about supply demand - it's about exorbitant privilege.
  • Understanding why QE and fiscal stimulus are not inflationary.
  • The cause and effect of a deflationary spiral.

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