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The Almighty Buck

Journal zogger's Journal: Buncomania 9

A rather vivid description of the standard operating procedure for modern high finance.

More or less what I have been saying, but I am not as afraid of any collapse as the "insider" giving the lecture in the article. Because I know the bulk of those electronic promises of future wealth called "pensions" and so on are *already gone*, already "collapsed", and there never was any intention of actually swapping them back for all the retirees so they could have living expenses.

  The whole article is about cons, so really..that was the ultimate magic beans for the milkcow con the grifters have been selling the public..and municipalities..and unions and organizations and other corporations.... "Gives us all your extra loot for decades, we'll "invest it", then we promise to pay you back later on even moar, forever and ever"! I mean, geez loweez,,, The numbers have never added up, it just cannot be done. That money/wealth is long gone. The rest is ..what to call it..chimeric wealth. Giant ponzi scheme. Sure it has paid off for some. that's how they work, they have to build the hype, so the earlier investors get back some big bucks and get all tuplip mania about it, they "sell" the con to their friends, and it snowballs from there.. only for awhile though, then they collapse once too many are "owed" more than what is coming in.

  So...there's no way it can pay off for the vast retiring boomer generation and beyond, because all ponzi schemes rely on new investors to pay the old investors, and the lie is that the money is "working for you" someplace in magical fairyland ville upstream. Once the pool of new suckers slows down, it gets harder and harder for ponzi schemes to operate, because they *don't make money* they just skim a lot and divvy some out to keep everyone faked out that it is a perpetual motion money machine.

    They'll try accounting tricks and come up with even more exotic forms of future credit, plus always the old faithful run the printing presses. Then tell people they should be robbed..err..taxed more.. all of that ...but the real wealth no longer exists, it has already been spent. It's gone.

You know the famous white van and speakers for sale con? It's famous, happened all over the country, I even saw it once in a parking lot in Stone Mountain Georgia when a friend was driving and I talked him out of it, told him straight up it was a con, freakin obvious. Oh man he had instant greed in his eyes and heart though, that blinded him to reality, so he couldn't see it. Anyway, that's the vast bulk of pensions and retirement accounts and so on today, a real impressive heavy even looks like a speaker inside, nice wood cabinet and get home, plug it in, nothing. Open it up...full of rocks. The sellers are long gone by then. Your thousand dollar speakers that you "invested" 200 in was a *box of rocks*. Because no one is going to give you real thousand buck speakers, except for a thousand bucks. There ain't no free lunch, there is no magical something for nothing, money doesn't work, money is imaginary property, people have to work, and perpetual motion-something for nothing- doesn't ever work at all.

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  • Just need to put it out there: gold supplies are finite. Gold is an important industrial metal. Economies grow, and sometimes shrink. With a relatively static money supply, the amount of money in circulation will not match the size of the economy. This is the reason behind having an elastic money supply. The idea that money, a symbol of value, must have value itself, is silly. If the symbol itself has value, it can not accurately represent abstract values of other things.

    However, this is not to imply that t

  • States like California don't have the legal right to go bankrupt, but they CAN issue their own legal tender, such as 40-year non-interest-bearing notes, etc.

    They will fix the city and state budget problems by issuing non-interest-bearing IOUs to people as a percentage of their retirement benefits. Think of it as a "claw-back" without actually having to claw it back.

    They fix the city pension problems by selling the IOUs to cities for 25 cents on the dollar. The cities can then use this bogus $$$ to pay u

    • Oops - $20 in real money to the state ... reduces pension costs by 60%.

      State pension costs are reduced by 80%, since they don't have to pay real money for the notes.

      (and I know, the "real" money is also fiat currency ... which is why you can expect everyone to jump on the bandwagon - it's all unreal to begin with).

      • I am thinking what people need with a pension..roof over the head. Well, get some place and pay if off before you retire. Utilities,,get some solar panels, etc and pay them off. Put a wood stove in, and as long as you are working, superinsulate your home so you don't *need* as much heating and cooling anyway, most houses are beyond a joke when it comes to making them efficient. . We should have cheap LED lighting by then as well, add one more solar panel for those. OK, that's covered.

        Solar is really underra

        • You don't like horses? They produce their own replacement parts, they'll start when it's too cold for your car to start, you can talk to them, they produce fertilizer, and pretty much everything is recyclable. The only problem is they take up too much space in the house, and when they do wander in, dumb people (my sister the "I know how to handle my own horse you dummy" expert) try to turn them around instead of leading them straight through and out the back door.

          We have bike paths. Why not more bridle

          • -thought about it, haven't gotten one yet. We have a donkey but he is a nuts and I can't even get a bridle on him yet...

            • You could always get a dog cart ...

              Also there was a study done in Scotland a few decades ago that showed that a couple of ox worked out better for plowing in terms of energy consumption and TCO than a tractor did. I should immagine the balance is even more in favour of the ox now. All we need to do is come up with a way to handle 100 ox at a time - maybe some sort of computer-controled servo-mechanism, complete with Yosemite Sam shouting "When I says WHOA! I means WHOA!"

              That and a few well-trained border

              • by zogger ( 617870 )

                Thought about oxen as well, but we haven't had any twin bulls yet. I know from working with them and also holstein dairy cattle, ye gadz are they strong.

                Dogcart could be doable, have three large dogs and three small ones.

"Never face facts; if you do, you'll never get up in the morning." -- Marlo Thomas