Archive for the ‘economics’ Category

Fed has no gold

Friday, January 25th, 2013

Supposedly, the Federal Reserve has mountain of gold, seven thousand tonnes stashed in various places in the US.  By an astonishing coincidence, it owes banks in other nations seven thousand tonnes of gold.

The Fed owes the German government fifteen hundred tonnes of gold.  Germany asked for its gold back.  The  Fed did not want to give it.  So Germany asked for three hundred tonnes of gold back.  The fed agreed, in principle, to return three hundred tonnes of Germany’s gold – over seven years.

Why so long?

This only makes sense is the fed has considerably less than three hundred tonnes left and they hope to quietly purchase three hundred tonnes over the next  seven years using freshly printed money.  Stalling is going to create fear.  If the fed is stalling, it can only be because it has absolutely no alternative but to stall.

Recall the bank run scene in “It’s a wonderful life”.  Imagine if the bankers had said, “No problem, we have your money, but, alas, due to postal delays and that our clerks a bit slow counting it is going to take seven years.”

Kill their leaders and convert them to … progressivism

Monday, December 17th, 2012

Ann Coulter famously said “Kill their leaders and convert them to Christianity”.  Regrettably, all the versions of Christianity that once upon a time would have been capable of implementing such a program have replaced the worship of Christ the Redeemer with Jesus the community organizer.

The “Arab Spring” was the Cathedral deluding itself that it was installing progressive “Muslim” regimes in the Middle East – only to discover what was obvious to everyone else, that it was installing “progressive” Muslim regimes in the Middle East.

For a long time the Cathedral has been promoting a transformation of Islam, promoting progressive Islam, which I parody as “There is no God but Allah, and Mohammed is his prophet, and Mohammed, rightly understood, was a feminist and gay rights supporter who only commanded killing Zionists, not killing Jews as such, and furthermore opposed terrorism, except when conservatives and Jews who won’t get with the program get terrorized.”

They believe they are succeeding, but this belief is deluded.  They think that they defeated Christianity by persuasion, by the self evident truth of progressivism, and don’t realize that they crushed Christianity by theocratic state power.  (Any Christian commenters who think their Church is still doing fine, how is your church treating divorced women who want to remarry?  If your church has yielded on several major points, it will soon be yielding on several more, until Christ the Redeemer becomes Jesus the community organizer, and the Father, Son, and Holy Ghost become the spiritual force, so as not to discriminate against parishioners who believe that Jesus gay married Buddha and visits earth from time to time in a flying saucer.)

Progressives gravely underestimate the amount of violence required convert Muslims to progressivism, because they gravely underestimate the amount of violence they used to convert Christians to progressivism.

Progressives think that sincere Muslim believers are rural rednecks, people living in mountain compounds, and that is where they send the drones to blow up terrorists.  They think that people like themselves – urban, privileged, affluent, highly educated in all the correct elite schools – must be progressives and cannot possibly be terrorists, cannot possibly take religion seriously, but, in a Muslim country, that is exactly where you find the Muslims, aka “terror”. In a theocratic state, belief in the official theocratic beliefs is strongest among the products of the elite schools, and affluent people living close to the center of power, such as, for example, Barack Hussein Obama and Osama bin Laden. We are a progressive atheocracy, the Middle East is full of Muslim theocracies.

The reason that in America, the Christians tend to be in the backwoods and away from the center of power is that the official religion, progressivism, dominates and is more passionately believed, the closer you are to the center of power.  Obviously, in a theocracy, faith is centered on the capital, the government bureaucracy, the elite schools, the privileged, the powerful, the wealthy.  School attendance is church attendance at the official church.

There are moderate Muslims but there is no such thing as moderate Islam.  Moderate Muslims are Muslims who don’t take Islam seriously. And you find them in the backwoods and rural areas, in the same sort of places as in America you find Americans who don’t take progressivism seriously.

If you want to make war on “terror”, you are going to have to make war on Islam, which means you are going to have to start by blowing up the leading schools and think tanks where the children of the privileged hang out.  Progressives are losing against Islam because they are blowing up the wrong Muslims.

When Sunni Muslims are in power, they persecute Alawites in the same way they persecute Christians and Jews, since they don’t believe the Alawite claim to be Muslim.  To avoid persecution, Alawites seized power in Syria.  The Cathedral perceived this as soldiers snatching power from priests, or, as they phrased it, “undemocratic”, though Alawites are Muslim enough that the distinction between soldiers and priests is small, thus the distinction between democracy and military dictatorship is small. Alawites claim to be Shia Muslims, a claim barely tolerated by Shia Muslims and generally rejected by Sunni Muslims. Alawite ruled Syria allied itself with Shia Iran, allowing Iran to project force against Israel and hostile Sunni Muslim powers, whereupon Iran found it convenient to give credit to the Alawite claim to be Shia Muslims.  Because Iranian aid to Hezbollah and such was channeled through Syria, the Cathedral defined the Syrian regime as “terror”.

And so, the Cathedral set to overthrowing the Syrian government, intending to replace “terror” with progressive “Islam”

The Alawites fought back with unexpected ferocity, knowing that if the Sunni majority gained power, they would be enslaved, and so the war went on inconclusively.

Syrian Christians support the Alawites, and are fighting beside them, which tells me that Alawites are less dreadful than most Muslims, which is probably the reason that Sunnis don’t count them as Muslims.

Indeed, the fact that there are a reasonable number of Syrian Christians still alive tells me that Alawites are less bad than most.  America should not be fighting on the other side from middle eastern Christians.

After the murder of America’s Libyan ambassador, the Cathedral suddenly realized that in a genuinely free and fair Syrian election, an al-Qaeda franchisee would likely be elected.

Moderate, which is to say insincere, Muslims seem to be in short supply in Syria.  So now, in Syria, we have a three cornered war, the Cathedral versus the Alawites versus the Sunnis, the Cathedral versus just about everyone in Syria.

Kissinger said of the Iran Iraq war

“It’s too bad they both can’t lose.”

Whereupon Reagan proceeded to make sure they both did lose.

I hope that in the Syrian war, all three of them will lose.  Indeed, chances are, all three will lose.  The Alawites have their backs against the wall, and no alternative but to hang on to power, so in the end, will probably do so, but pay a very high price for doing so.  Everyone says that the Assad regime, which is to say Alawites, are on their last legs.  Perhaps they are, but they have been on their last legs for a long time.  The next most likely outcome is that Al Qaeda gets Syria, while progressives continue to piously pretend that progressivism is winning.

The Syrian government, which is to say the Alawites, agreed to hold free and fair elections, under supervision of China and Russia, but with the Alawites organizing the election. This was of course entirely unacceptable to the Cathedral, which wanted the Alawites to first be thoroughly removed from any power, and then elections held under the supervision of the Cathedral.

The Cathedral proposal resembles the “election” whereby it installed Aristide in Haiti. Not only are the Alawites unlikely to fall for that one, the Sunni majority are not going to fall for it either.  If the Sunnis win, there is going to be a genuinely democratic election, one man, one vote, once, and then an Al Qaeda franchisee will be in charge, while New York Times optimistically rationalizes that Al Qaeda franchisees contain moderate elements.

Derivatives did it!

Wednesday, December 12th, 2012

Bernie Madoff steals from his depositors. An evil Jew did it! Punish the evil Jew Bernie Madoff. Jon Corzine, pillar of the progressive establishment, senior financial regulator, steals from his depositors. Derivatives did it!. Poor Jon Corzine. We must punish derivatives by regulating them further. (more…)

China more capitalist than the USA

Monday, December 3rd, 2012

With the USA becoming more socialist, and China more capitalist, it was inevitable that they would cross over.

And so today we see that private property rights in China are more secure and respected than in the USA.

Which means that in a little while, the average Chinese will be richer than the average North American.

At present, Chinese cars per capita is 21% of the US, electricity per capita is 29% of the US, and most middle class goods are roughly similar, which suggests that Chinese GDP per head is somewhere around a quarter or so of US GDP per head, despite optimistic US figures to the contrary. Since Chinese GDP is rising at about 10% a year, while US GDP per head is probably falling, despite official figures supposedly showing that it is rising, individual Chinese should be richer than individual North Americans after 2026 or so, assuming both countries continue on their current paths for that long, China continuing to head towards capitalism, and the US continuing to abandon it.

Leftwards with John Corzine

Friday, November 30th, 2012

Urban Future tells us:

When the Right attains power, it is by becoming something other than itself, betraying its partisans not only incidentally and peripherally, through timidity or incompetence, but centrally and fundamentally, by practically advancing an agenda that almost perfectly negates its supposed ideological commitments. It builds that which it had promised to destroy, and further enthralls that which it had promised to liberate. Its victories mean ever less, its defeats ever more. To win is at most a lesser evil, whilst to lose opens new, unprecedented horizons of calamity, initiating previously unimagined adventures in horror.

The left theoretically wants equality, but, predictably, its unending victories cause ever more extreme and brutal inequality, as socialism somehow strangely manifests as crony capitalism. Soak the rich – except, of course, for friends of Obama. The ensuing social injustice results in louder cries to soak the rich. (more…)

The first American socialist experiment.

Friday, November 23rd, 2012

Doubtless you have all seen this before, but it needs repeating, (and it is free content, being long out of copyright)

Governor Bradford, repeatedly re-elected governor of the Puritan settlement tells us in his journal “Of Plymouth Plantation”: (more…)

Military incapacity illustrated

Wednesday, November 21st, 2012

Shortly after my post “Military Incapacity”, a few hundred Tutsi rebels evicted the “Congolese Army” (poorly equipped black Cathedral third world armed forces) and seventeen thousand “United Nations International Peace Keepers” equipped with helicopter gunships and suchlike (better equipped and not quite so black Cathedral Armed forces) from the city of Goma in the Congo.

This a straightforward conflict between a minority less inferior black race, and a majority inferior black race, with the Cathedral, naturally, backing the inferiors.  The inferiors were in the way of efficient extraction of mineral resources, in that their intolerable crime levels disrupted  productivity, hence the need to evict Cathedral forces so that order could be imposed and commerce proceed. (more…)

State capitalism

Thursday, November 15th, 2012

Google and Facebook competing for an Obama cabinet slot

Big corporations get bigger while smaller businesses disappear. Most regulation is impossible to comply with, and is intended to be impossible to comply with. You “comply” with it by getting favors from the state exempting you from compliance.

The end state of democracy

Tuesday, November 6th, 2012

President Camacho-The Economy from President Camacho

Hat tip Fosetti

Vote Cthulhu

Tuesday, October 30th, 2012

Why vote for the lesser evil

Why vote for the lesser evil?

If you vote Democrat, you vote for the branch of the Cathedral’s public relations department that specializes in moving the left edge of the Overton window leftwards

If you vote Republican, you vote for the branch of the Cathedral’s public relations department that specializes in moving the right edge of the Overton window leftwards.

A vote for Romney will slow the destruction of the private economy, but it means that private health care goes outside the Overton window, that ending population replacement goes outside the Overton window.  If Romney gets elected, advocating private health care or border control, or stopping illegals from voting will be as crazy career suicide as advocating white supremacy – as  crazy as advocating any non left policy that no longer receives support from the mainstream parties.

The left is the state, and the state is the left.  The Republican party is part of the state, and so the range of policies that it is thinkable for republicans to endorse moves ever leftwards. (more…)