The Big Short – FLNWO #32
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The Big Short purports to tell the story of the housing bubble of the last decade and the subsequent global financial collapse…and it actually isn’t as terrible as you might think. Join James on this week’s edition of Film, Literature and the New World Order as we talk to Robert Wenzel of EconomicPolicyJournal.com about what The Big Short gets right and what it leaves out.
For those with limited bandwidth, CLICK HERE to download a smaller, lower file size version of this episode.
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SHOW NOTES:
EconomicPolicyJournal.com
The Big Short: An Almost Great Movie
The Fed Flunks: My Speech at the New York Federal Reserve Bank
Last month’s episode and comments: The Manchurian Candidate
Next month: The Moon Is A Harsh Mistress
Filed in: Film, Literature & The New World Order
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Thank you gain for a great FLNWO. Although relatively broad in scope, the ongoing accounting problems of the Military Industrial Complex broadly, which annually reports trillions in unaccounted for expenditures, does point to what Catherine Austin Fitts has outlined as evidence of highly compartmentalized research into space, weapons, and propulsion technologies for interstellar travel, aka, “the secret space programâ€. These projects extend beyond the black projects of DARPA and get to the heart of the “solutions†question (an ongoing topic at the Corbett Report), as they have been actively researching and utilizing zero point energy technologies for decades. The Fed’s role (and the BIS role more generally) in the finance of these projects through various monetary policies is a worthwhile area to research and discuss within the Corbett Report Community.
I made myself a zero point time machine from an old diesel generator and a random flux warp valve from an ancient Pye TV. I power it using Colgate extra white toothpaste as it seems to work better than the rest. And leaves a fresh minty taste with every jump.
Hey, for a moment there I thought I was at the Daily Kos.
Had me looking for the tip jar.
Gotta love that mint.
I don’t buy that “It is all the Fed’s fault†argument for a second.
The bankers were doing super risky lending based on asset price speculation + fraudulent selling of repackaged bad loans, labelled aaa by the banksters’ rating agencies + betting against the papers they themselves sold.
All this “The Fed did it†is an unsubstantiated argument, basically to take the blame off the banksters.
The role that the Fed has in this is that the top tier super banksters own the Fed and the regulators and therefore can save themselves when their fraudulent speculation schemes go wrong and prevent prosecutions (too big to jail) and prevent regulation against such fraudulent speculation schemes.
Of course the so called Economists did not warn against any crisis because they do not know anything about the real world. Neoclassical economics, which is the mainstream, is basically a ludicrous ideology aimed at preventing any regulation and promoting Manchester capitalism.
Austrian economics is actually worse, but that is a different topic.
The Fed is the institutional fountainhead of leverage excess, Paul. The weapon of cause is the Fed, the effect is the spawn banking establishment of minion toadies worshipping the good goddess save-us Yellen.
It’s abundantly clear in explicit detail for anyone to easily grasp in The Creature From Jekyll Island, not to mention James’ own amply articulated video review of same bane. If you’ve missed it you really should check it out.
So overwhelming is its substantiation as the master systemic instrument of Ponzi debt issuance dominating member banks that no guesswork about pyramidical authoritarian causation of the monotonous boom-bust cycling of its mass victims is permitted. Just not allowed, I’m afraid.
Today’s so-called economists mostly just run political resistance to any model that disables the systemic assault on equity and autonomy. The Austrians do have their issues but their principle of sound currency being fundamental to all equitable trade is, above all, just common sense.
As I regularly tell my kids before they rush off to school in the morning, ‘remember, kids, ..death to the Fed!” They just laugh and say ‘oh, daddy’, it’s not the Fed’s fault’.
Silly little kids, eh, Paul?
I don’t understand why Martin Armstrong is ignored with his excellent computer model of the business cycle and his extremely accurate predictions for the last 20 yrs.
An interesting tidbit on “Futures Trading” of commodities like corn or cotton or oil.
Perhaps only 5 cents of every dollar traded on the exchanges goes towards an actual physical delivery of that commodity.
QUOTE
“How much of what is traded actually gets delivered?”
“It is estimated that typically four percent or less is actually delivered. A contract may be bought and sold many times before the delivery date as businesses attempt to manage their risk. This is what accounts for the large volume traded, though relatively little is delivered, since the basic purpose of a futures contract is to provide price-change protection. (See hedging.)”
http://www.infinitytrading.com/tool/frequently-asked-questions
TomT
Was/is it the Banksters or the Fed?
Who’s the Fed?
Also, where’s Jekyll Island?